RMM vs VOO
RiverNorth Managed Duration Municipal Income Fund, Inc. vs Vanguard S&P 500 ETF
Quick Verdict
VOO has a lower expense ratio. VOO delivered stronger 1-year returns. VOO offers more diversification with 509 holdings.
Side-by-Side Comparison
| Metric | RMM | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 6.83% | 0.03% | |
| AUM | $299M | $997.4B | |
| Dividend Yield | 6.96% | 1.08% | |
| Holdings | 112 | 509 | |
| YTD Return | +8.91% | +12.68% | |
| 1Y Return | +14.44% | +21.87% | |
| 3Y Return (annualized) | +5.68% | +22.06% | |
| 5Y Return (annualized) | -0.80% | +12.95% | |
| Volatility (annualized) | 35.2% | 14.1% | |
| Max Drawdown | -83.8% | -34.3% | |
| Fund Family | RiverNorth | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Jul 25, 2019 | Sep 7, 2010 |
RMM vs VOO Performance
RiverNorth Managed Duration Municipal Income Fund, Inc. (RMM) is a ETF from RiverNorth and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year RMM returned +14.44% while VOO returned +21.87%. Year to date, RMM is up 8.91% versus a gain of 12.68% for VOO.
Over three years, RMM compounded at +5.68% per year against +22.06% for VOO; over five years the annualized figures are -0.80% and +12.95% respectively. Across the full 16-year window we track, VOO has the edge at +13.47% annualized vs -6.46%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RMM has been the more volatile fund, with annualized monthly volatility of 35.2% compared with 14.1% for VOO. 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 -83.8% for RMM and -34.3% for VOO. 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 0.38. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
RMM charges 6.83% per year while VOO charges 0.03%. On a $10,000 position that is $683 vs $3 annually, a gap of $680 per year that compounds over a long holding period. On income, RMM currently yields 6.96% against 1.08% for VOO.
Holdings Overlap
RMM and VOO share 0 holdings out of 563 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, RMM or VOO?
RMM has an expense ratio of 6.83% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $680 per year of difference.
Which performed better, RMM or VOO?
Over the past year RMM returned +14.44% vs +21.87% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (16 years), RMM annualized -6.46% vs +13.47% for VOO. Past performance does not guarantee future results.
Which is riskier, RMM or VOO?
RMM has been the more volatile fund at 35.2% annualized versus 14.1% for VOO. Worst drawdown: RMM -83.8% vs VOO -34.3%.
Should I hold both RMM and VOO?
RMM and VOO have a monthly-return correlation of 0.38, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between RMM and VOO?
RMM and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 563 unique securities.
Which pays a higher dividend, RMM or VOO?
RMM yields 6.96% while VOO yields 1.08%, so RMM currently pays the higher dividend yield.
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