Rockefeller New York Municipal Bond ETF
RMNY
New York Stock Exchange Arca- -
USD
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- -
Capital Structure
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 45 Rockefeller Plaza, 5th Floor New York NY United States of America 10111
- IPO Date
- Aug 13, 2024
- Website
- rockefelleretfs.com
- Similar Companies
- Business
- Rockefeller New York Municipal Bond ETF (RMNY) is an actively managed exchange-traded fund that seeks to provide income exempt from U.S. federal and New York state income taxes by investing primarily in New York municipal bonds and related debt securities. The fund, which launched on August 12, 2024, and trades on NYSE Arca, normally invests at least 80% of its net assets plus borrowings for investment purposes in debt securities whose interest is exempt from regular federal and New York income taxes, as opined by bond counsel at issuance; this includes a portfolio of approximately 50-77 holdings featuring investment-grade and high-yield municipal bonds across various maturities, such as New York State Dormitory Authority revenue bonds, Suffolk Regional Off-Track Betting Corp. revenue bonds, Onondaga Civic Development Corp. revenue bonds, New York City bonds, Port Authority of New York & New Jersey bonds, and Westchester County Local Development Corp. revenue bonds, with an average weighted coupon of around 5.27%, effective duration focused on long-term holdings (predominantly 10-30+ years), and top 10 holdings comprising roughly 34-41% of assets. RMNY employs a value-oriented, credit-intensive process leveraging relative value bottom-up fundamental credit analysis to capitalize on municipal market inefficiencies, aiming for high levels of tax-free income and yield-driven total return across market cycles, with a net expense ratio of 0.55% and assets under management of approximately $4.9-16.8 million. RMNY operates within the municipal bond segment of the fixed income market, targeting investors resident in New York seeking tax-exempt income, including high-net-worth individuals, institutions, and financial advisors; its geographic focus centers on New York State issuers, though it may include out-of-state debt exempt from both federal and New York taxes, with up to 25% potentially in below investment-grade (BB+ or lower) municipal bonds. The ETF is issued by Tidal Trust III under Tidal Investments LLC as advisor and Tidal ETF Services LLC as administrator, with sub-advisory and portfolio management provided by Rockefeller Asset Management, the asset management division of Rockefeller Capital Management; Rockefeller Capital Management, founded in 2018 and headquartered at Rockefeller Plaza in New York City with over 40 U.S. offices and a London presence, traces its heritage to the 1882 Rockefeller family office. Recent developments include the August 2024 launch of RMNY alongside sibling ETFs Rockefeller Opportunistic Municipal Bond ETF (RMOP) and Rockefeller California Municipal Bond ETF (RMCA), expanding Rockefeller Asset Management's opportunistic municipal high-yield capabilities; this followed the June 2024 hiring of veteran portfolio managers Scott Cottier, Mark DeMitry, and Michael Camarella from Invesco, where they oversaw over $25 billion in assets, to lead these strategies. In September 2025, Rockefeller Asset Management marked the one-year anniversary of its municipal ETF suite (including RMNY) with noted performance and growth; the firm continued ETF expansion in 2024-2025, launching additional active products such as Rockefeller Global Equity ETF (RGEF) in October 2024 and a SMID cap ETF earlier that year, building on its $4.5 billion global equity platform. No major acquisitions, funding rounds, or reorganizations specific to RMNY have been reported in the last 1-2 years.