RMMZ vs SCHD
RiverNorth Managed Duration Municipal Income Fund II, Inc vs Schwab US Dividend Equity ETF
Which is better, RMMZ or SCHD?
Municipal Bond against Large Cap Value.
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y and the full window.
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 | RMMZ | SCHD |
|---|---|---|
| Expense Ratio | 6.81% | 0.06%Best |
| AUM | $120M | $108.9B |
| Dividend Yield | 6.39% | 3.00% |
| Holdings | 103 | 206 |
| YTD Return | -5.25% | +20.89%Best |
| 1Y Return | -5.06% | +23.87%Best |
| 3Y Return (annualized) | +5.39% | +16.31%Best |
| 5Y Return (annualized) | - | +9.25% |
| Volatility (annualized) | 17.3% | 15.1%Best |
| Max Drawdown | -27.1% | -16.1%Best |
| $10,000 over 4.6 years | $9,709 | $14,890Best |
| Fund Family | RiverNorth | Charles Schwab Asset Management |
| Category | Tax Preferred | Equity |
| Style | Municipal Bond | Large Cap Value |
| Inception | Feb 10, 2022 | Oct 20, 2011 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 4.6 years row, are measured over the window both funds cover: Feb 11, 2022 to Oct 5, 2026 (4.6 years).
RMMZ 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 4.6 years both funds cover.
RMMZ vs SCHD Performance
RiverNorth Managed Duration Municipal Income Fund II, Inc (RMMZ) is an ETF from RiverNorth and Schwab US Dividend Equity ETF (SCHD) is an ETF from Charles Schwab Asset Management. Over the past year RMMZ returned -5.06% while SCHD returned +23.87%. Year to date, RMMZ is down 5.25% versus a gain of 20.89% for SCHD.
Over three years, RMMZ compounded at +5.39% per year against +16.31% for SCHD.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
RMMZ has been the more volatile fund, with annualized monthly volatility of 17.3% compared with 15.1% 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 -16.1% 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 0.60. They move together some of the time, and apart the rest.
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 6.39% against 3.00% for SCHD.
Holdings Overlap
We hold position weights for 50 holdings in RMMZ and 99 in SCHD, totalling 109.2% 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 73 days apart, RMMZ as of Jun 30, 2026 and SCHD as of Sep 11, 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 RMMZ and 99 in SCHD, against full books of 103 and 206.
You are not choosing between two funds in isolation.
Whichever of RMMZ 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, RMMZ or SCHD?
RMMZ has an expense ratio of 6.81% while SCHD charges 0.06%. SCHD is the cheaper option, by $675 a year on a $10,000 investment.
Which performed better, RMMZ or SCHD?
Over the past year RMMZ returned -5.06% vs +23.87% for SCHD, so SCHD leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, RMMZ or SCHD?
RMMZ has been the more volatile fund at 17.3% annualized versus 15.1% for SCHD. Worst drawdown: RMMZ -27.1% vs SCHD -16.1%.
Should I hold both RMMZ and SCHD?
RMMZ and SCHD have a monthly-return correlation of 0.60, 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, RMMZ or SCHD?
RMMZ yields 6.39% while SCHD yields 3.00%, so RMMZ currently pays the higher dividend yield.
Is SCHD better than RMMZ?
SCHD has a lower expense ratio. SCHD led over 1Y, 3Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.