Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
Rockefeller New York Municipal Bond ETF
$23.01+0.10 (+0.46%)
- 0.55%
- $30M
- −2.5%
- 4.64%
- 0M sh
- $22.88
- low $22.71high $24.99
The ETF.net RMNY Grade
D
Score 39 out of 100
- 55 of 63
Score 39 of 100 falls in the D 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.F7 out of 100Rank 58 of 63Mission
Whether the fund did what it promised, tested against its stated mandate.A95 out of 100Rank 18 of 59Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C42 out of 100Rank 44 of 63Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.F19 out of 100Rank 57 of 63Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.D32 out of 100Rank 57 of 63Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.F16 out of 100Rank 60 of 63
Our read on RMNY
DA New York-only muni bond fund run by a live manager instead of an index. Rockefeller hand-picks the bonds, chasing income that skips both the federal and the New York state tax bill, and pays it out monthly.
The Fund seeks income exempt from federal and New York state income taxes. It is actively managed and invests primarily in New York municipal bonds.
Why people hold it
- Narrow by design: the prospectus targets income exempt from federal and New York state income taxes, invested primarily in New York municipal bonds.
- Active, not indexed. The manager can move across issuers, maturities and credit tiers rather than holding whatever a benchmark prescribes.
- What is on the label is what is in the portfolio: holdings line up closely with the stated New York muni mandate.
- Income arrives monthly rather than quarterly.
Worth knowing
- Active costs real money: 0.55% a year against a 0.30% muni-fund median, and far above index New York rivals such as NYF at 0.09%.
- A small, thinly traded fund, so bid-ask spreads can run wider than the giant national muni ETFs.
- Launched in 2024, so the live record is short, and a single-state book ties you to one state's issuers and tax rules.
RMNY Holdings
- Bonds
- 97
- 26%
- City of New York NY 2.25% 04/01/2042
RMNY Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
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RMNY$9,752
Returns run to the Oct 12, 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.
| Period | RMNY |
|---|---|
| Year to date | −3.3% |
| 1 month | −2.8% |
| 3 months | −6.2% |
| 1 year | −2.5% |
| 3 years | — |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | RMNY |
|---|---|---|
| 2026 YTD | −3.3% | |
| 2025 | +2.3% | |
| 2024 | +0.9% |
RMNY in the news
RMNY Dividends
- 4.64%
- $1.06
- $0.09 per share
- Monthly
Distribution history
RMNY Risk
- 5.5%
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.
- −0.77
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.
- −7.4%
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.
- 0.17
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
RMNY Cost
0.55%
RMNY0.55%
- The middle half of Other Municipal Bond funds
- Median 0.30%
57 of the 63 Other Municipal Bond funds charge less.
Other funds in Other Municipal Bond
- CRMCARockefeller California Municipal Bond ETFExpense ratio 0.55%1 year return −3.4%
- DLTAXNomura Tax-Free USA ETFExpense ratio 0.39%1 year return —
- DMBNDState Street Nuveen Municipal Bond ETFExpense ratio 0.40%1 year return −2.7%
- DJCALJPMorgan California Tax Free Bond ETFExpense ratio 0.44%1 year return —
- DJTNYJPMorgan New York Tax Free Bond ETFExpense ratio 0.43%1 year return —