Skip to content
etf.net

Launched · SEC filings

RJ Eagle Municipal Income ETF

RJMINYSE ArcaRaymond JamesC

$24.87−0.13 (−0.50%)

As of Nov 10, 2026, 10:51 AM ET

C49/ 100

Rank 51 of 63 in Other Municipal Bond

C49/100Rank 51 of 63inOther Municipal Bond
Intraday session: down, 14 prints from 25.00 to 24.87. Range 24.86 to 25.00. Use the arrow keys to read each point.24.8524.9024.9324.9524.9810 AM12 PM2 PM4 PM
Expense ratio
0.41%
Fund size
$46M
1Y total return
+1.2%
Yield · Last 12 months
3.28%
Holdings
129
Avg volume · 30D
15K sh
52W range
low $23.77high $26.09
Launched
Filings
SEC EDGAR

The ETF.net RJMI Grade

C

Score 49 out of 100

Category
Other Municipal Bond⁠
Rank
51 of 63
Six-pillar profile for RJMI. Scores out of 100: Cost 18, Risk 45, Mission 98, Tradability 37, Holdings 64, Durability 12. Strongest: Mission (98). Weakest: Durability (12). Leans toward Mission.

Score 49 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.

  • Cost

    The fund’s net expense ratio, ranked against its category.
    F18 out of 100
    Rank 52 of 63

  • Mission

    Whether the fund did what it promised, tested against its stated mandate.
    A98 out of 100
    Rank 13 of 59

  • Risk

    How the fund held up when markets fell: downside volatility, drawdowns and tail loss.
    C45 out of 100
    Rank 43 of 63

  • Tradability

    How easy the fund is to trade: daily volume, and how far its price strays from net asset value.
    D37 out of 100
    Rank 45 of 63

  • Holdings

    How concentrated the fund is, and how complete and current its disclosed holdings are.
    B64 out of 100
    Rank 26 of 63

  • Durability

    Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.
    F12 out of 100
    Rank 62 of 63

Our read on RJMI

ETF.net Research

In short

CA 2025 debut from Raymond James: a national muni bond ETF built bond by bond, aimed at income exempt from federal tax. The trade-off is price, in a corner of the market where the index giants charge three basis points.

Stated mandate

The fund seeks to invest at least 80% of its assets in a diversified portfolio of debt securities whose interest is exempt from federal income tax, as determined by issuer bond counsel.

Why people hold it

  • Explicit mandate: at least 80% of assets in bonds whose interest is exempt from federal income tax, as determined by issuer bond counsel. The portfolio has stuck closely to that label.
  • Diversified and national by design, not a single-state sleeve like NYF, so the tax-exempt exposure spreads across many issuers.
  • No benchmark to clone. It doesn't share a declared index with the category's big trackers, so the manager picks bonds rather than replicate a list.

Worth knowing

  • 0.41% a year sits above the typical muni ETF and many times the 0.03% at VTEB and SCMB. In a low-coupon category, fees take a visible bite out of tax-free income.
  • It opened in October 2025 with a small asset base and light trading, so bid-ask spreads can run wider than at the category's household names.
  • Payouts have arrived irregularly rather than on the fixed monthly rhythm many muni funds keep.

RJMI Performance

Launched Oct 2, 2025

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

Not enough history yet.Not enough history yet.Not enough history yet.
RJMI$10,117
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,339
Nov 7, 2025 to Nov 9, 2026. RJMI $10,117. SPY $11,339. Use the arrow keys to read each point.$10,000$11,000Nov 2025May 2026Nov 2026

Nov 7, 2025 – Nov 9, 2026

Returns run to the Nov 9, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.

Trailing total return for RJMI. Periods over one year show the average yearly return.
PeriodRJMI
Year to date+0.5%
1 month+4.1%
3 months+0.1%
1 year+1.2%
3 yearsFund is under 3 years oldper yearNo data
5 yearsFund is under 5 years oldper yearNo data
10 yearsFund is under 10 years oldper yearNo data

With distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for RJMI
YearReturn barRJMI
2026 YTD+0.5%
2025+2.8%

Since listing, Oct 2, 2025

RJMI in the news

RJMI Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Nov 9, 2026.
3.28%Last 12 months
Payout per share
$0.82Last 12 months
Last payment
$0.07 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution history

2025–2026

One bar per payment. 13 payments from 2025 to 2026 YTD. Oct 31, 2025 $0.04; Nov 28, 2025 $0.05; Dec 31, 2025 $0.06; Jan 30, 2026 $0.06; Feb 27, 2026 $0.06; Mar 31, 2026 $0.08; Apr 30, 2026 $0.07; May 29, 2026 $0.07; Jun 30, 2026 $0.07; Jul 31, 2026 $0.08; Aug 31, 2026 $0.07; Sep 30, 2026 $0.08; Oct 30, 2026 $0.07. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Oct 30, 2026Nov 2, 2026$0.07
Sep 30, 2026Oct 1, 2026$0.08
Aug 31, 2026Sep 1, 2026$0.07
Jul 31, 2026Aug 3, 2026$0.08
Jun 30, 2026Jul 1, 2026$0.07
May 29, 2026Jun 1, 2026$0.07
Apr 30, 2026May 1, 2026$0.07
Mar 31, 2026Apr 1, 2026$0.08
Feb 27, 2026Mar 2, 2026$0.06
Jan 30, 2026Feb 2, 2026$0.06
Dec 31, 2025Jan 2, 2026$0.06
Nov 28, 2025Dec 1, 2025$0.05

See all 13 payments⁠

$10,000 in RJMI 1 year ago paid $321 in dividends.⁠

RJMI Risk

Risk pillarC45 out of 100Rank 43 of 63 in Other Municipal Bond
How much the fund’s monthly returns vary, scaled to a year.
7.1%
Annualised · 12 months to Oct 2026
How it’s calculated: standard deviation

The sample standard deviation of monthly total returns, multiplied by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.

Return above 3-month US Treasury bills per unit of volatility.
−0.52
vs 3-month T-bills · 12 months to Oct 2026
How it’s calculated: Sharpe ratio

Subtract each month’s Treasury-bill return from the fund’s monthly total return.

Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.

Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.

The largest fall from a peak to the low that followed.
−7.1%
13 months · trough Sep 2026
How it’s calculated: maximum drawdown

The largest percentage decline from an earlier peak, using total returns with reinvested distributions.

Uses up to five years through the last close, with at least 12 months required.

How strongly the fund’s returns move with its asset-class index.
0.15
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

FMP measures it over up to five years of monthly returns.

RJMI Cost

Compare RJMI and VTEB

Overpaying vs VTEB, tied cheapest in Other Municipal Bond

$7,643

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

  • RJMI 0.41%

    $8,281

  • VTEB 0.03% Tied cheapest

    $638

$10,000
30 years

Cost over time

  • RJMI 0.41%
  • VTEB 0.03%
  • Overpaying
One line per fund, from year 0 to year 30. Use the arrow keys to read each point.$0$2K$4K$6K$8K$10K051015202530RJMI $8,281VTEB $638

Year by year

YearRJMIVTEBOverpaying
10$741$55$686
20$2,860$216$2,644
30$8,281$638$7,643

Other funds in Other Municipal Bond

See others