RMCA vs SPY
RMCA vs SPY
Rockefeller California Municipal Bond ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY delivered stronger 1-year returns. SPY offers more diversification with 503 holdings.
Side-by-Side Comparison
| Metric | RMCA | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.55% | 0.09% | |
| AUM | $19M | $789.1B | |
| Dividend Yield | 4.72% | 1.01% | |
| Holdings | 65 | 505 | |
| YTD Return | +2.09% | +13.79% | |
| 1Y Return | +7.38% | +23.66% | |
| 3Y Return (annualized) | - | +21.40% | |
| 5Y Return (annualized) | - | +13.37% | |
| Volatility (annualized) | 5.0% | 15.3% | |
| Max Drawdown | -6.3% | -56.5% | |
| Fund Family | Rockefeller Capital Management | State Street Investment Management | |
| Category | Tax Preferred | Equity | |
| Inception | Aug 12, 2024 | Jan 22, 1993 |
RMCA vs SPY Performance
Rockefeller California Municipal Bond ETF (RMCA) is a ETF from Rockefeller Capital Management and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Over the past year RMCA returned +7.38% while SPY returned +23.66%. Year to date, RMCA is up 2.09% versus a gain of 13.79% for SPY.
Risk: Volatility and Drawdowns
SPY has been the more volatile fund, with annualized monthly volatility of 15.3% compared with 5.0% for RMCA. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -6.3% for RMCA and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.45. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
RMCA charges 0.55% per year while SPY charges 0.09%. On a $10,000 position that is $55 vs $9 annually, a gap of $46 per year that compounds over a long holding period. On income, RMCA currently yields 4.72% against 1.01% for SPY.
Holdings Overlap
RMCA and SPY share 0 holdings out of 523 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, RMCA or SPY?
RMCA has an expense ratio of 0.55% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $46 per year of difference.
Which performed better, RMCA or SPY?
Over the past year RMCA returned +7.38% vs +23.66% for SPY, so SPY leads on 1-year performance. Over the longest common window we track (2 years), RMCA annualized +2.08% vs +8.85% for SPY. Past performance does not guarantee future results.
Which is riskier, RMCA or SPY?
SPY has been the more volatile fund at 15.3% annualized versus 5.0% for RMCA. Worst drawdown: RMCA -6.3% vs SPY -56.5%.
Should I hold both RMCA and SPY?
RMCA and SPY have a monthly-return correlation of 0.45, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between RMCA and SPY?
RMCA and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 523 unique securities.
Which pays a higher dividend, RMCA or SPY?
RMCA yields 4.72% while SPY yields 1.01%, so RMCA currently pays the higher dividend yield.
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