Category Review
Municipal bond funds are down for the year after a third-quarter selloff erased the first-half gain
Rareview Tax Advantaged Income ETF
$18.79+0.16 (+0.85%)
- 5.24%
- $15M
- −8.2%
- 5.54%
- 0M sh
- $18.73
- low $18.36high $22.18
The ETF.net RTAI Grade
F
Score 23 out of 100
- 62 of 63
Score 23 of 100 falls in the F 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.F0 out of 100Rank 63 of 63Mission
Whether the fund did what it promised, tested against its stated mandate.C45 out of 100Rank 58 of 59Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D34 out of 100Rank 61 of 63Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D30 out of 100Rank 50 of 63Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.F19 out of 100Rank 63 of 63Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.F19 out of 100Rank 59 of 63
Our read on RTAI
FRTAI hunts federally tax-exempt monthly income with an active hand, benchmarked to the Bloomberg Municipal Bond Index instead of tracking it. The trade-off is a 4.72% expense ratio in a corner of the market where the median is 0.30%.
The Fund seeks total return with an emphasis on current income, with a substantial portion intended to be exempt from federal income taxes.
Why people hold it
- Pays monthly, and the mandate targets current income with a substantial portion intended to be exempt from federal income taxes.
- Run against the Bloomberg Municipal Bond Index rather than pinned to it: the stated goal is total return with income as the emphasis.
- Trading since 2020, so there is a multi-year live record behind it rather than a back-test.
Worth knowing
- The 4.72% expense ratio sits far above the roughly 0.30% muni-ETF median, a high hurdle for tax-exempt income to clear.
- A small, thinly traded fund, so spreads and any premium or discount to net asset value matter more here than in the category's giants.
- Index rivals like VTEB, MUB and SCMB blanket the muni market for a few basis points, leaving RTAI among the costlier builds in its peer group.
RTAI Holdings
- Bonds
- 13
- 98%
- MHD
Sectors
- Financials100.0%
Geography
- United States100.00%
RTAI Performance
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.
RTAI$9,177
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 | RTAI |
|---|---|
| Year to date | −8.6% |
| 1 month | −6.6% |
| 3 months | −12.0% |
| 1 year | −8.2% |
| 3 years | +6.2% |
| 5 years | −3.2% |
| 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 | RTAI |
|---|---|---|
| 2026 YTD | −8.6% | |
| 2025 | +5.5% | |
| 2024 | +7.2% | |
| 2023 | +4.3% | |
| 2022 | −22.6% | |
| 2021 | +10.6% | |
| 2020 | +4.8% |
RTAI in the news
RTAI Dividends
- 5.54%
- $1.03
- $0.09 per share
- Monthly
Distribution history
RTAI Risk
- 12.8%
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.
- 0.22
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.
- −33.5%
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.
- 2.18
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
RTAI Cost
5.24%
RTAI5.24%
- The middle half of Other Municipal Bond funds
- Median 0.30%
Every other Other Municipal Bond fund charges less.
Other funds in Other Municipal Bond
- DJTNYJPMorgan New York Tax Free Bond ETFExpense ratio 0.43%1 year return —
- DXMPTVanEck CEF Muni Income ETFExpense ratio 3.40%1 year return −7.3%
- DNMBSimplify National Muni Bond ETFExpense ratio 0.52%1 year return −5.0%
- DFECMFirst Eagle Core Municipal ETFExpense ratio 0.40%1 year return —
- FYYYMAmplify ETF Trust - Amplify Municipal CEF High Income ETFExpense ratio 2.78%1 year return —