RMOP vs VCRM: Grades, Fees and Holdings Compared

Rockefeller Opportunistic Municipal Bond ETF

RMOPCNYSE Arca

Vanguard Core Tax-Exempt Bond E

VCRMACboe

Overlap

No data

Expense ratio

VCRM −0.68pt a year

RMOP0.80%VCRM0.12%

Avg volume · 30D

VCRM 4.3×the volume

RMOP159KVCRM679K

RMOP vs VCRM Performance

Oct 31, 2025 – Oct 30, 2026

+0.9%RMOP+1.1%VCRM

Expense ratio: RMOP 0.80%; VCRM 0.12%, better
Fund size: RMOP $473M; VCRM $2.2B
1Y total return: RMOP +0.9%; VCRM +1.1%, better
Yield (12M): RMOP 5.32%, better; VCRM 3.81%
Holdings: RMOP 363; VCRM 2588
Avg volume (30D): RMOP 159K sh; VCRM 679K sh, better
NAV per share: RMOP $24.00; VCRM $73.95
52W range

ETF.net Grade

Pillar letters and Scores for RMOP, VCRM, with each pillar’s weight
Pillar	RMOP	VCRM
Cost30% weight	F5	A89Higher
Mission25% weight	A97	A100Higher
Risk15% weight	B55	B68Higher
Tradability15% weight	A70	A80Higher
Holdings10% weight	C53	A81Higher
Durability5% weight	C48	A74Higher

Rank among Other Municipal Bond funds

How we build Categories ›

Same Category. RMOP 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 4th and RMOP 45th of 63 funds in the Other Municipal Bond Category.

Rank 1AVTEBVanguard Tax-Exempt Bond ETFScore 88
Rank 2AMUBiShares National Muni Bond ETFScore 86
Rank 2ASCMBSchwab Municipal Bond ETFScore 86
Rank 4AVCRMVanguard Core Tax-Exempt Bond EScore 85
Rank 5ATFIState Street SPDR Nuveen ICE Municipal Bond ETFScore 82
Rank 45CJMSIJPMorgan Sustainable Municipal Income ETFScore 51
Rank 45CRMOPRockefeller Opportunistic Municipal Bond ETFScore 51
Rank 45CTAXMBondBloxx IR+M Tax-Aware ETF for Massachusetts ResidentsScore 51

Our read on each fund

ETF.net Research

RMOPCRockefeller Opportunistic Municipal Bond ETF

VCRMAVanguard Core Tax-Exempt Bond E

In short

RMOP Not an index tracker: RMOP is an actively run muni portfolio that leans into the high-yield end of the market, hunting mispriced bonds for monthly federally tax-exempt income. The fee is 0.80%.

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

RMOP The Fund seeks current income exempt from federal income tax and long-term capital appreciation.

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

Why people hold it

RMOP Run by three managers who came over from Invesco together in 2024 after two decades investing side by side, covering both high-yield and high-grade munis in one mandate.rockco.com
Tax-exempt by design: at least 80% of net assets go to bonds whose interest is exempt from federal income tax, and the portfolio has stayed tight to that stated mandate.yahoo.com
Income arrives monthly, not quarterly, and the fund trades with moderate volume for an actively managed muni product.

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

RMOP The 0.80% fee sits above the muni category median, and far above broad index options like VTEB at 0.03% and MUB at 0.05%. Security selection has to carry that gap.
Non-diversified, with a benchmark blended 60% toward high-yield munis. Single positions can run large and lower-rated munis trade thinly, so swings run hotter than a broad index.yahoo.com rockco.com
Launched in August 2024, so the track record is short and covers only one stretch of the rate cycle.

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 RMOP profile⁠

Full VCRM profile⁠

RMOP vs VCRM Holdings

How RMOP and VCRM differ

No overlap figure

Two bond funds rarely hold the same issues.

Level by level

Asset classFixed Income100%
Countryby domicile99.8%

Sector

No Sector split for RMOP and VCRM.

Country, concentration and asset class

Country by domicile

Country weights in RMOP and VCRM, widest gap first
Country	More in RMOPMore in VCRM	RMOP	VCRM
United States	VCRM +0.2 points	99.6%	99.8%
Puerto Rico	RMOP +0.2 points	0.4%	0.2%

Concentration

Weight in the 10 largest Holdings

RMOP20.0%
VCRM8.8%

Securities held

RMOP348
VCRM2,426

Asset class

RMOP: Fixed Income
VCRM: Fixed Income

Holdings

Two bond funds rarely hold the same issues, so this page lists no shared Holdings. RMOP holds 348 securities, VCRM 2,426.

All RMOP holdings⁠All 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.

RMOP vs VCRM Cost

Overpaying RMOP vs VCRM

$12,826

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

RMOP 0.80%
$15,346
VCRM 0.12%
$2,520

Amount$10,000

Years30 years

Cost over time

RMOP 0.80%
VCRM 0.12%
Overpaying

Year by year

Year	RMOP	VCRM	Overpaying
10	$1,422	$220	$1,202
20	$5,393	$859	$4,534
30	$15,346	$2,520	$12,826

Expense ratio

0.80%RMOP
0.12%VCRM, cheaper

VCRM0.12%RMOP0.80%

0.03%4.59%

Middle half of Other Municipal Bond funds
Median 0.30%

VCRM 8th cheapest of 63 funds

RMOP 60th cheapest of 63 funds

RMOP vs VCRM Dividends

Last 12 months to Oct 30, 2026

Yield (12M): RMOP 5.32%, better; VCRM 3.81%
Payout (12M): RMOP $1.28; VCRM $2.82
Last payment: RMOP $0.11; VCRM $0.21
Ex-dividend: RMOP Oct 29, 2026; VCRM Oct 1, 2026
Paid on: RMOP Oct 30, 2026; VCRM Oct 5, 2026
Frequency: RMOP Monthly; VCRM Monthly

Distribution history

Per share, 2024 to 2026, same scale for both

RMOPMonthly · 26 paymentsAll RMOP payments⁠

VCRMMonthly · 22 paymentsAll VCRM payments⁠

RMOP vs VCRM Risk

Fall from peak · 5 years

This chart needs five years of history for both funds.

Risk facts

VolatilityStd dev, 3 years: RMOP 6.8%since Sep 2024VCRM 5.6%since Dec 2024
Return per unit of riskSharpe ratio, 3 years: RMOP −0.17since Sep 2024VCRM −0.32since Dec 2024
Worst fallMax drawdown, 5 years: RMOP −8.1%since Aug 2024VCRM −6.3%since Nov 2024
Market sensitivityBeta, 5 years: RMOP 0.21VCRM 0.17; Market = 1

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