RMNY vs VCRM: Grades, Fees and Holdings Compared

Rockefeller New York Municipal Bond ETF

RMNYCNYSE Arca

Vanguard Core Tax-Exempt Bond E

VCRMACboe

Overlap

No data

Expense ratio

VCRM −0.43pt a year

RMNY0.55%VCRM0.12%

Avg volume · 30D

VCRM 163.1×the volume

RMNY4.47KVCRM730K

RMNY vs VCRM Performance

Nov 7, 2025 – Nov 9, 2026

+1.3%RMNY+2.3%VCRM

Expense ratio: RMNY 0.55%; VCRM 0.12%, better
Fund size: RMNY $31M; VCRM $2.2B
1Y total return: RMNY +1.3%; VCRM +2.3%, better
Yield (12M): RMNY 4.40%, better; VCRM 3.75%
Holdings: RMNY 99; VCRM 2595
Avg volume (30D): RMNY 4.47K sh; VCRM 730K sh, better
NAV per share: RMNY $23.88; VCRM $74.68
52W range

ETF.net Grade

Pillar letters and Scores for RMNY, VCRM, with each pillar’s weight
Pillar	RMNY	VCRM
Cost30% weight	F7	A89Higher
Mission25% weight	A96	A100Higher
Risk15% weight	C46	A72Higher
Tradability15% weight	D26	A82Higher
Holdings10% weight	D29	A81Higher
Durability5% weight	F15	A74Higher

Rank among Other Municipal Bond funds

How we build Categories ›

Same Category. RMNY and VCRM are both graded against the same 63 Other Municipal Bond funds, so their Grades compare head to head.

Other Municipal Bond⁠

Category · 63 funds

See all 63 ›

VCRM ranks 2nd and RMNY 55th of 63 funds in the Other Municipal Bond Category.

Rank 1AVTEBVanguard Tax-Exempt Bond ETFScore 89
Rank 2AVCRMVanguard Core Tax-Exempt Bond EScore 86
Rank 3AMUBiShares National Muni Bond ETFScore 85
Rank 55CRMCARockefeller California Municipal Bond ETFScore 40
Rank 55CRMNYRockefeller New York Municipal Bond ETFScore 40
Rank 57DMBNDState Street Nuveen Municipal Bond ETFScore 37

Our read on each fund

ETF.net Research

RMNYCRockefeller New York Municipal Bond ETF

VCRMAVanguard Core Tax-Exempt Bond E

In short

RMNY A 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.

VCRM Vanguard's active answer in a mostly-index category: managers working the whole muni curve for 0.12% a year, under half the muni ETF median fee. Monthly income, exempt from federal personal income taxes.

Stated mandate

RMNY 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.

VCRM The fund seeks total return through current income exempt from federal personal income taxes and capital appreciation.

Why people hold it

RMNY 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.

VCRM Active management priced at 0.12% a year, less than half the 0.30% median for muni ETFs.
Run by Vanguard's Fixed Income Group, with all-curve exposure to primarily high-quality investment-grade munis spread across sectors, states and credit tiers.prnewswire.com
Pays monthly, with income the fund seeks to keep exempt from federal personal income taxes.vanguard.com
Sticks tightly to its stated mandate and grades among the strongest implementations in its muni peer group.

Worth knowing

RMNY 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.

VCRM You pay up for the manager: index peers VTEB and SCMB run at 0.03%, a quarter of VCRM's 0.12%.
Launched in November 2024, so there is only a short record to judge the active mandate on.
All-curve exposure puts longer maturities in the mix, so prices move with rates. And the exemption is federal: state treatment of a national muni fund depends on where you live.prnewswire.com

Full RMNY profile⁠

Full VCRM profile⁠

RMNY vs VCRM Holdings

How RMNY and VCRM differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Countryby domicile96.0%
Sector3 Sectors98.9%
Asset classBonds100%

Sector

Sector weights in RMNY and VCRM, widest gap first
Sector	Gap	RMNY	VCRM
Corporate	RMNY +1.1 points	1.1%	0.0%
Municipal	VCRM +0.8 points	98.9%	99.7%
Securitized	VCRM +0.3 points	0.0%	0.3%

Country, concentration and asset class

Country by domicile

Country weights in RMNY and VCRM, widest gap first
Country	More in RMNYMore in VCRM	Gap	RMNY	VCRM
United States		VCRM +4.0 points	95.8%	99.8%
Puerto Rico		RMNY +4.0 points	4.2%	0.2%

Concentration

Weight in the 10 largest Holdings

RMNY24.9%
VCRM8.8%

Securities held

RMNY94
VCRM2,433

Asset class

RMNY: Bonds
VCRM: Bonds

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. RMNY holds 94 securities, VCRM 2,433.

All RMNY holdings⁠All 2,586 VCRM holdings⁠

How we measure overlap

Each holding counts at its smaller weight in the two funds, summed over the full Holdings. Sector, country and asset class use the same rule on each fund’s split. Cash, FX and derivative lines stay out of the counts. Two bond funds get no overlap figure.

RMNY vs VCRM Cost

Overpaying RMNY vs VCRM

$8,384

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

RMNY 0.55%
$10,904
VCRM 0.12%
$2,520

Amount$10,000

Years30 years

Cost over time

RMNY 0.55%
VCRM 0.12%
Overpaying

Year by year

Year	RMNY	VCRM	Overpaying
10	$988	$220	$768
20	$3,790	$859	$2,931
30	$10,904	$2,520	$8,384

Expense ratio

0.55%RMNY
0.12%VCRM, cheaper

VCRM0.12%RMNY0.55%

0.03%4.59%

Middle half of Other Municipal Bond funds
Median 0.30%

VCRM 8th cheapest of 63 funds

RMNY 58th cheapest of 63 funds

RMNY vs VCRM Dividends

Last 12 months to Nov 9, 2026

Yield (12M): RMNY 4.40%, better; VCRM 3.75%
Payout (12M): RMNY $1.05; VCRM $2.80
Last payment: RMNY $0.09; VCRM $0.21
Ex-dividend: RMNY Oct 29, 2026; VCRM Nov 2, 2026
Paid on: RMNY Oct 30, 2026; VCRM Nov 4, 2026
Frequency: RMNY Monthly; VCRM Monthly

Distribution history

Per share, 2024 to 2026, same scale for both

RMNYMonthly · 26 paymentsAll RMNY payments⁠

VCRMMonthly · 23 paymentsAll VCRM payments⁠

RMNY vs VCRM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: RMNY 5.9%since Sep 2024VCRM 5.6%since Dec 2024
Return per unit of riskSharpe ratio, 3 years: RMNY −0.47since Sep 2024VCRM −0.32since Dec 2024
Worst fallMax drawdown, 5 years: RMNY −7.4%since Aug 2024VCRM −6.3%since Nov 2024
Market sensitivityBeta, 5 years: RMNY 0.17VCRM 0.17; Market = 1

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