RJMI ETF: What Is It? A Complete Guide to Returns, Expense Ratio, Holdings, and Alternative ETFs
The RJ Eagle Municipal Income ETF (RJ), known as the RJMI ETF, actively selects US municipal bonds in pursuit of tax-advantaged income. Investors should also review its distribution history and changes in payout frequency, along with the interest rate outlook and the fee differences among similar municipal bond ETFs.
SubscribeWhat Is the RJ Eagle Municipal Income ETF (RJ)?
This product is an actively managed US municipal bond ETF. It focuses on municipal bonds that pay interest exempt from regular federal income tax, and it considers both the income stream and changes in capital value.
It is suited to investors who understand credit selection and interest rate sensitivity in US municipal bonds and who are weighing the balance between income and volatility.
The ETF is managed by Eagle Asset Management using an active (actively managed) approach.
How Does the RJ Eagle Municipal Income ETF (RJ) Invest?
| Item | Details |
|---|---|
| Tracked Index | Not applicable, active municipal bond selection |
| Management Style | Active municipal bond management |
| Rebalancing Frequency | Adjusted at the manager's discretion |
| Dividend Frequency | Has a distribution history (irregular frequency, no fixed schedule should be assumed) |
| Expense Ratio | 0.41% |
The fund mainly invests in municipal bonds issued by US local governments and related agencies. The manager reviews market conditions and issuers' financial positions, and builds the portfolio by considering credit quality, maturity structure, issuer diversification, and the relative appeal of after-tax expected returns.
- Active credit selection
- Diversification across municipal bond maturity ranges
- Bond comparison from an after-tax income perspective
Size and Costs of the RJ Eagle Municipal Income ETF (RJ) (AUM and Management Fee)
Assets under management (AUM) stand at $41.7M, and the expense ratio is 0.41% per year.
Because trading conditions for the RJMI ETF can change, investors should check the bid-ask spread, trading volume, and the fee burden relative to similar municipal bond ETFs.
Performance and Trends of the RJ Eagle Municipal Income ETF (RJ)
1-Year Price Performance
Dividend & Yield
52-Week Price RangeThe performance of the RJMI ETF can vary with municipal bond yields, credit conditions, and maturity structure. When expectations of falling interest rates grow, the environment can be favorable for the prices of bonds with duration, but greater rate volatility can also lead to larger valuation swings.
Fund flows into municipal bond ETFs are influenced by demand for tax-advantaged income, the market's interest rate outlook, and perceptions of issuer credit risk. Because management approaches and trading conditions differ by product, investors comparing similar products should review fees, asset base, and quoted prices together.
Strengths and Weaknesses of the RJ Eagle Municipal Income ETF (RJ)
While active municipal bond selection and maturity diversification are strengths, changes in interest rates and issuer credit conditions, as well as trading conditions, require ongoing monitoring.
💪 Key Strengths
⚠️ Points of Caution
Alternative ETFs and Related Products to the RJ Eagle Municipal Income ETF (RJ)
In the comparison table, the VTEB ETF is a municipal bond option with a low fee burden and a broad asset base. The MUB ETF offers a similar national municipal bond scope, and the JMUB ETF is a candidate for comparing active management. The CGMU ETF and the CMF ETF differ in manager and regional exposure, so fees, diversification direction, and trading conditions should be reviewed together. The RJMI ETF can be compared mainly on a preference for credit selection and maturity range management.
Peer Comparison ETFs| Ticker | Name | Price | Change | AUM | Total Expense Ratio | Dividend Yield | 1Y |
|---|---|---|---|---|---|---|---|
 MUB | iShares National Muni Bond ETF | $103.43 | +0.2% | $53.8B | 0.05% | 3.3% | -3.8% |
 VTEB | Vanguard Tax-Exempt Bond ETF | $48.51 | +0.2% | $51.8B | 0.03% | 3.5% | -4.0% |
 JMUB | JPMorgan Municipal ETF | $48.67 | +0.1% | $8.8B | 0.18% | 3.52% | -4.0% |
 CGMU | Capital Group Municipal Income ETF | $26.62 | +0.1% | $7.3B | 0.27% | 3.47% | -3.2% |
 CMF | iShares California Muni Bond ETF | $55.38 | +0.1% | $5.3B | 0.08% | 3.04% | -3.9% |
Top Holdings| Ticker | Name | Weight | Price | Change | Market Cap | P/E | Dividend Yield |
|---|---|---|---|---|---|---|---|
 NYT | New York Times Co | 0.06% | $69.58 | +0.2% | $11.2B | 29.0 | 1.29% |
| UAL | United Airlines Holdings Inc | 0.03% | $97.93 | -4.0% | $31.8B | 8.9 | - |
 MAIN | Main Street Capital Corp | 0.03% | $53.51 | -1.1% | $5.0B | 10.8 | 7.77% |
 CPBI | Central Plains Bancshares Inc | 0.03% | $20.73 | -0.1% | $86.5M | 17.6 | - |
 NJR | New Jersey Resources Corp | 0.01% | $53.16 | -0.9% | $5.4B | 14.7 | 3.62% |
Investor Checkpoints for the RJ Eagle Municipal Income ETF (RJ)
Before investing, check the interest rate sensitivity of municipal bonds, issuer credit risk, and trading conditions together. Even with a distribution history, the frequency may not be fixed, so rather than assuming an income stream, it is necessary to review the product based on its prospectus and market conditions.
| Checkpoint | What to Check | Current Status |
|---|---|---|
| Management Style | Check the approach to active credit selection and maturity range management. | Active management |
| Distribution History | Check the distribution history and the possibility of changes in frequency. | Has a distribution history (irregular frequency, no fixed schedule should be assumed) |
| Trading Conditions | Check the bid-ask spread and trading volume. | Needs checking before trading |
| Tax Treatment | Check the scope of federal taxation and state-of-residence taxation. | Needs checking for individual circumstances |
Municipal bond prices can be sensitive to interest rate levels and changes in rate expectations, and credit risk can also rise when issuers' financial conditions worsen. In addition, an ETF's market price can differ from its net asset value, so quoted prices and liquidity conditions should be checked when trading.
The RJMI ETF is a product that seeks tax-advantaged income and changes in capital value together through active municipal bond management. In making investment decisions, do not assume a fixed distribution schedule. Instead, take an approach that comprehensively reviews interest rate sensitivity, the credit selection method, trading conditions, and cost differences versus similar ETFs.
SubscribeDisclaimer: This content is for informational purposes only and does not constitute investment advice. All investment responsibility lies with the investor.
This article reflects information as of August 16, 2026.
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