RMI vs SCHD
RiverNorth Opportunistic Municipal Income Fund, Inc. vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. SCHD offers more diversification with 100 holdings.
Side-by-Side Comparison
| Metric | RMI | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 3.34% | 0.06% | |
| AUM | $101M | $103.7B | |
| Dividend Yield | 6.81% | 3.31% | |
| Holdings | 100 | 104 | |
| YTD Return | +13.19% | +25.62% | |
| 1Y Return | +18.85% | +32.62% | |
| 3Y Return (annualized) | +6.51% | +15.58% | |
| 5Y Return (annualized) | -0.05% | +9.63% | |
| Volatility (annualized) | 15.7% | 13.6% | |
| Max Drawdown | -32.7% | -33.4% | |
| Fund Family | RiverNorth | Charles Schwab Asset Management | |
| Category | Tax Preferred | Equity | |
| Inception | Oct 25, 2018 | Oct 20, 2011 |
RMI vs SCHD Performance
RiverNorth Opportunistic Municipal Income Fund, Inc. (RMI) is a ETF from RiverNorth and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year RMI returned +18.85% while SCHD returned +32.62%. Year to date, RMI is up 13.19% versus a gain of 25.62% for SCHD.
Over three years, RMI compounded at +6.51% per year against +15.58% for SCHD; over five years the annualized figures are -0.05% and +9.63% respectively. Across the full 8-year window we track, SCHD has the edge at +11.47% annualized vs +2.37%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RMI has been the more volatile fund, with annualized monthly volatility of 15.7% compared with 13.6% for SCHD. 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 -32.7% for RMI and -33.4% for SCHD. 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 0.47. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
RMI charges 3.34% per year while SCHD charges 0.06%. On a $10,000 position that is $334 vs $6 annually, a gap of $328 per year that compounds over a long holding period. On income, RMI currently yields 6.81% against 3.31% for SCHD.
Holdings Overlap
RMI and SCHD share 0 holdings out of 150 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, RMI or SCHD?
RMI has an expense ratio of 3.34% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $328 per year of difference.
Which performed better, RMI or SCHD?
Over the past year RMI returned +18.85% vs +32.62% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (8 years), RMI annualized +2.37% vs +11.47% for SCHD. Past performance does not guarantee future results.
Which is riskier, RMI or SCHD?
RMI has been the more volatile fund at 15.7% annualized versus 13.6% for SCHD. Worst drawdown: RMI -32.7% vs SCHD -33.4%.
Should I hold both RMI and SCHD?
RMI and SCHD have a monthly-return correlation of 0.47, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between RMI and SCHD?
RMI and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 150 unique securities.
Which pays a higher dividend, RMI or SCHD?
RMI yields 6.81% while SCHD yields 3.31%, so RMI currently pays the higher dividend yield.
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