Aspiriant Risk-Managed Municipal Bond Fund (RMMBX)
| Fund Assets | 1.28B |
| Expense Ratio | 0.47% |
| Min. Investment | $0.00 |
| Turnover | 23.00% |
| Dividend (ttm) | 0.26 |
| Dividend Yield | 2.79% |
| Dividend Growth | -22.62% |
| Payout Frequency | Quarterly |
| Ex-Dividend Date | Dec 23, 2025 |
| Previous Close | 9.39 |
| YTD Return | 1.29% |
| 1-Year Return | 3.55% |
| 5-Year Return | 4.75% |
| 52-Week Low | 8.74 |
| 52-Week High | 9.40 |
| Beta (5Y) | 0.26 |
| Holdings | 977 |
| Inception Date | Jul 1, 2015 |
About RMMBX
The Aspiriant Risk-Managed Municipal Bond Fund is an actively managed mutual fund focused on generating a total return through income exempt from regular federal income taxes, complemented by opportunities for capital appreciation. Its primary function is to invest at least 80% of its assets in municipal bonds issued by U.S. states, local governments, their agencies, and U.S. territories, with an emphasis on risk management strategies. The fund features a flexible mandate, allowing investments across all types of municipal securities, including general obligation and revenue bonds of varying maturities and credit qualities—ranging from high-yield (below investment grade) to investment-grade instruments. In addition, it may utilize derivatives and pooled investment vehicles for hedging or exposure management. With quarterly dividend distributions and a substantial, diversified portfolio—comprising over 900 holdings—the fund serves investors seeking stable tax-exempt income while aiming to mitigate downside risk in the municipal bond market. Its strategic allocation and active management underpin its role as a tool for diversification and risk-adjusted yield within fixed income portfolios, particularly for those prioritizing federal tax-exempt income and broad municipal sector exposure.
Performance
RMMBX had a total return of 3.55% in the past year, including dividends. Since the fund's inception, the average annual return has been 6.15%.
Equivalent Funds
These are funds that follow the same index from the other major fund companies.
| Symbol | Provider | Name | Expense Ratio |
|---|---|---|---|
| FHUGX | Fidelity | Fidelity Advisor Municipal Income Fund - Class A | 0.77% |
| FROGX | Fidelity | Fidelity Advisor Municipal Income Fund - Class I | 0.52% |
| VWLTX | Vanguard | Vanguard Long-Term Tax-Exempt Fund | 0.17% |
| FUENX | Fidelity | Fidelity Flex Municipal Income Fund | n/a |
| VWAHX | Vanguard | Vanguard High-Yield Tax-Exempt Fund | 0.17% |
Top 10 Holdings
21.48% of assets| Name | Symbol | Weight |
|---|---|---|
| Mackay Municipal Opportunities Fund Lp Open-End | n/a | 8.56% |
| iShares National Muni Bond ETF | MUB | 5.91% |
| BlackRock Liquidity Funds - MuniCash | MCSXX | 2.63% |
| Mackay Municipal Credit Opportunities Fund Lp | n/a | 2.12% |
| JPMorgan Prime Money Market Fund | JINXX | 0.48% |
| NEW YORK N Y 5.25% | NY.NYC 5.25 03.01.2053 | 0.38% |
| ILLINOIS FIN AUTH REV 5.25% | IL.ILSGEN 5.25 05.15.2048 | 0.37% |
| NEW JERSEY ST TRANSN TR FD AUTH 5% | NJ.NJSTRN 5 06.15.2048 | 0.36% |
| PUERTO RICO SALES TAX FING CORP SALES TAX REV 5% | PR.PRCGEN 5 07.01.2058 | 0.34% |
| METROPOLITAN ATLANTA RAPID TRAN AUTH GA SALES TAX REV 4% | GA.METTRN 4 07.01.2035 | 0.33% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Dec 23, 2025 | $0.0074 | Dec 23, 2025 |
| Sep 26, 2025 | $0.085 | Sep 26, 2025 |
| Jun 26, 2025 | $0.085 | Jun 26, 2025 |
| Mar 27, 2025 | $0.085 | Mar 27, 2025 |
| Dec 23, 2024 | $0.0916 | Dec 23, 2024 |
| Sep 27, 2024 | $0.0825 | Sep 27, 2024 |