RMI vs SCHD
RiverNorth Opportunistic Municipal Income Fund, Inc. vs Schwab US Dividend Equity ETF
Which is better, RMI or SCHD?
Municipal Bond against Large Cap Value.
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y, 5Y and the full window. SCHD is less concentrated, with 41.8% of the fund in its ten largest positions against 52.6%.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | RMI | SCHD |
|---|---|---|
| Expense Ratio | 3.34% | 0.06%Best |
| AUM | $99M | $112.1B |
| Dividend Yield | 6.91% | 3.00% |
| Holdings | 100 | 103 |
| YTD Return | +6.61% | +23.68%Best |
| 1Y Return | +7.58% | +28.36%Best |
| 3Y Return (annualized) | +7.04% | +16.20%Best |
| 5Y Return (annualized) | -1.57% | +10.07%Best |
| Volatility (annualized) | 15.7%Best | 16.5% |
| Max Drawdown | -32.7%Best | -33.4% |
| $10,000 over 5 years | $9,239 | $16,156Best |
| Top 10 Weight | 52.6% | 41.8%Best |
| Fund Family | RiverNorth | Charles Schwab Asset Management |
| Category | Tax Preferred | Equity |
| Style | Municipal Bond | Large Cap Value |
| Inception | Oct 25, 2018 | Oct 20, 2011 |
Volatility and max drawdown are measured over the window both funds cover: Oct 26, 2018 to Sep 22, 2026 (7.9 years).
RMI vs SCHD growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view covers the 7.9 years both funds cover.
RMI vs SCHD Performance
RiverNorth Opportunistic Municipal Income Fund, Inc. (RMI) is an ETF from RiverNorth and Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management. Over the past year RMI returned +7.58% while SCHD returned +28.36%. Year to date, RMI is up 6.61% versus a gain of 23.68% for SCHD.
Over three years, RMI compounded at +7.04% per year against +16.20% for SCHD; over five years the annualized figures are -1.57% and +10.07% respectively. Across the full 8-year window we track, SCHD has the edge at +12.32% annualized vs +1.57%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 16.5% compared with 15.7% for RMI. 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 what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.47. They move together some of the time, and apart the rest.
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 6.91% against 3.00% for SCHD.
Holdings Overlap
We hold position weights for 50 holdings in RMI and 100 in SCHD, totalling 99.8% and 100.0% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 153 days apart, RMI as of Mar 31, 2026 and SCHD as of Aug 31, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 50 positions we hold weights for in RMI and 100 in SCHD, against full books of 100 and 103.
What only one of them owns
Our book lists 99 positions for SCHD that do not appear in our book for RMI (99.9% of the fund), and 49 for RMI that do not appear in SCHD (99.8%).
Some of those will be the same company recorded under a different code in one of the two books, so the real difference in what you would own is no larger than this and may be smaller. We do not name the individual positions here for that reason.
You are not choosing between two funds in isolation.
Whichever of RMI and SCHD you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
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, by $328 a year on a $10,000 investment.
Which performed better, RMI or SCHD?
Over the past year RMI returned +7.58% vs +28.36% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (8 years), RMI annualized +1.57% vs +12.32% for SCHD. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, RMI or SCHD?
SCHD has been the more volatile fund at 16.5% annualized versus 15.7% for RMI. 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 their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, RMI or SCHD?
RMI yields 6.91% while SCHD yields 3.00%, so RMI currently pays the higher dividend yield.
Is SCHD better than RMI?
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y, 5Y and the full window. SCHD is less concentrated, with 41.8% of the fund in its ten largest positions against 52.6%. Which one suits a particular account depends on what it is for. This is information, not a recommendation.