RMMZ vs SCHD
RiverNorth Managed Duration Municipal Income Fund II, 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 104 holdings.
Side-by-Side Comparison
| Metric | RMMZ | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 6.81% | 0.06% | |
| AUM | $135M | $108.7B | |
| Dividend Yield | 5.75% | 3.13% | |
| Holdings | 100 | 104 | |
| YTD Return | +5.28% | +28.70% | |
| 1Y Return | +6.50% | +32.27% | |
| 3Y Return (annualized) | +5.13% | +17.27% | |
| 5Y Return (annualized) | - | +10.23% | |
| Volatility (annualized) | 16.8% | 13.7% | |
| Max Drawdown | -27.1% | -33.4% | |
| Fund Family | RiverNorth | Charles Schwab Asset Management | |
| Category | Tax Preferred | Equity | |
| Inception | Feb 10, 2022 | Oct 20, 2011 |
RMMZ vs SCHD Performance
RiverNorth Managed Duration Municipal Income Fund II, Inc (RMMZ) is a ETF from RiverNorth and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year RMMZ returned +6.50% while SCHD returned +32.27%. Year to date, RMMZ is up 5.28% versus a gain of 28.70% for SCHD.
Over three years, RMMZ compounded at +5.13% per year against +17.27% for SCHD. Across the full 5-year window we track, SCHD has the edge at +11.63% annualized vs +1.68%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RMMZ has been the more volatile fund, with annualized monthly volatility of 16.8% compared with 13.7% 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 -27.1% for RMMZ 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 0.56. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
RMMZ charges 6.81% per year while SCHD charges 0.06%. On a $10,000 position that is $681 vs $6 annually, a gap of $675 per year that compounds over a long holding period. On income, RMMZ currently yields 5.75% against 3.13% for SCHD.
Holdings Overlap
RMMZ and SCHD share 0 holdings out of 152 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, RMMZ or SCHD?
RMMZ has an expense ratio of 6.81% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $675 per year of difference.
Which performed better, RMMZ or SCHD?
Over the past year RMMZ returned +6.50% vs +32.27% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (5 years), RMMZ annualized +1.68% vs +11.63% for SCHD. Past performance does not guarantee future results.
Which is riskier, RMMZ or SCHD?
RMMZ has been the more volatile fund at 16.8% annualized versus 13.7% for SCHD. Worst drawdown: RMMZ -27.1% vs SCHD -33.4%.
Should I hold both RMMZ and SCHD?
RMMZ and SCHD have a monthly-return correlation of 0.56, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between RMMZ and SCHD?
RMMZ and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 152 unique securities.
Which pays a higher dividend, RMMZ or SCHD?
RMMZ yields 5.75% while SCHD yields 3.13%, so RMMZ currently pays the higher dividend yield.
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