Aspiriant Risk-Managed Municipal Bond (RMMBX)

Fund Assets	1.24B
Expense Ratio	0.46%
Min. Investment	$0.00
Turnover	23.00%
Dividend (ttm)	0.26
Dividend Yield	2.99%
Dividend Growth	-24.29%
Payout Frequency	Quarterly
Ex-Dividend Date	Sep 28, 2026

Previous Close	8.78
YTD Return	-4.46%
1-Year Return	-3.66%
5-Year Return	-2.91%
52-Week Low	8.67
52-Week High	9.45
Beta (5Y)	0.25
Holdings	1031
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.

• Fund Family: Aspiriant
• Category: Muni National Interm
• Performance Rating: High
• Risk Rating: Average
• Stock Exchange: Nasdaq
• Ticker Symbol: RMMBX
• Index: Bloomberg Municipal Bond TR

Performance

RMMBX had a total return of -3.66% in the past year, including dividends. Since the fund's inception, the average annual return has been 1.66%.

Equivalent Funds

These are funds that follow the same index from the other major fund companies.

Symbol	Provider	Name	Expense Ratio
FLUVX	Fidelity	Fidelity Advisor Municipal Income M	0.75%
FKISX	Fidelity	Fidelity Advisor Municipal Income C	1.50%
FROGX	Fidelity	Fidelity Advisor Municipal Income I	0.50%
FUENX	Fidelity	Fidelity Flex Municipal Income Fund	n/a
FHIGX	Fidelity	Fidelity Municipal Income Fund	0.43%

Top 10 Holdings

19.13% of assets

Name	Symbol	Weight
Mackay Municipal Opportunities Fund LP, Class A	n/a	8.20%
JPMorgan Prime Money Market Inst	JINXX	2.78%
iShares National Muni Bond ETF	MUB	2.69%
Mackay Municipal Credit Opportunities Fund LP, Class A	n/a	2.05%
BlackRock Liquidity MuniCash Instl	MCSXX	1.73%
City of New York NY - City of New York, Series FISCAL 2024 C	NY.NYC 5.25 03.01.2053	0.36%
Illinois Finance Authority, Series 2023A	IL.ILSGEN 5.25 05.15.2048	0.35%
New Jersey Transportation Trust Fund Authority	NJ.NJSTRN 5 06.15.2048	0.33%
Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue - Puerto Rico Sales Tax Financing Corp. Sales Tax	PR.PRCGEN 5 07.01.2058	0.33%
Texas Public Finance Authority	TX.TXSGEN 4 02.01.2037	0.31%

Dividend History

Ex-Dividend	Amount	Pay Date
Sep 28, 2026	$0.085	Sep 28, 2026
Jun 26, 2026	$0.085	Jun 26, 2026
Mar 27, 2026	$0.085	Mar 27, 2026
Dec 23, 2025	$0.0074	Dec 23, 2025
Sep 26, 2025	$0.085	Sep 26, 2025
Jun 26, 2025	$0.085	Jun 26, 2025

Data Sources: Tiingo, Twelve Data, and more

Historical data is provided by Tiingo. Delayed stock pricing data is provided by Twelve Data. Several fund data points are also provided by Finnhub.

Last checked:

Oct 16, 2026

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