RMMZ vs VOO
RiverNorth Managed Duration Municipal Income Fund II, 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 | RMMZ | VOO | Winner |
|---|---|---|---|
| Expense Ratio | 6.81% | 0.03% | |
| AUM | $135M | $997.4B | |
| Dividend Yield | 5.75% | 1.08% | |
| Holdings | 100 | 509 | |
| YTD Return | +5.28% | +12.68% | |
| 1Y Return | +6.50% | +21.87% | |
| 3Y Return (annualized) | +5.13% | +22.06% | |
| 5Y Return (annualized) | - | +12.95% | |
| Volatility (annualized) | 16.8% | 14.1% | |
| Max Drawdown | -27.1% | -34.3% | |
| Fund Family | RiverNorth | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Feb 10, 2022 | Sep 7, 2010 |
RMMZ vs VOO Performance
RiverNorth Managed Duration Municipal Income Fund II, Inc (RMMZ) is a ETF from RiverNorth and Vanguard S&P 500 ETF (VOO) is a ETF from Vanguard (US). Over the past year RMMZ returned +6.50% while VOO returned +21.87%. Year to date, RMMZ is up 5.28% versus a gain of 12.68% for VOO.
Over three years, RMMZ compounded at +5.13% per year against +22.06% for VOO. Across the full 5-year window we track, VOO has the edge at +13.47% 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 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 -27.1% for RMMZ 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 0.67. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
RMMZ charges 6.81% per year while VOO charges 0.03%. On a $10,000 position that is $681 vs $3 annually, a gap of $678 per year that compounds over a long holding period. On income, RMMZ currently yields 5.75% against 1.08% for VOO.
Holdings Overlap
RMMZ and VOO share 0 holdings out of 557 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 VOO?
RMMZ has an expense ratio of 6.81% while VOO charges 0.03%. VOO is the cheaper option. On a $10,000 investment, that is $678 per year of difference.
Which performed better, RMMZ or VOO?
Over the past year RMMZ returned +6.50% vs +21.87% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (5 years), RMMZ annualized +1.68% vs +13.47% for VOO. Past performance does not guarantee future results.
Which is riskier, RMMZ or VOO?
RMMZ has been the more volatile fund at 16.8% annualized versus 14.1% for VOO. Worst drawdown: RMMZ -27.1% vs VOO -34.3%.
Should I hold both RMMZ and VOO?
RMMZ and VOO have a monthly-return correlation of 0.67, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between RMMZ and VOO?
RMMZ and VOO share 0 common holdings with a 0.0% weight overlap. Combined, they hold 557 unique securities.
Which pays a higher dividend, RMMZ or VOO?
RMMZ yields 5.75% while VOO yields 1.08%, so RMMZ currently pays the higher dividend yield.
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