RiverNorth Flexible Municipal Income Fund II (RFMZ) Total Return Calculator
$10,000 since Feb 2021, with and without reinvesting · data through Oct 2026
Since Feb 2021, $10,000 became $9,025 reinvested (-1.8% a year), or $8,899 taking the dividends as cash, $2,921 of it paid out along the way.
RFMZ became
$9,025
S&P 500: $21,450
Return a year
-1.8%
S&P 500: 14.4%
Payouts reinvested
$3,555
bought more shares
Worst drop
-36.7%
S&P 500: -23.9%
$10,000, Feb 2021 to Oct 2026
Payouts reinvested · S&P 500 reinvested
| Year | RFMZ total return | Paid out | S&P 500 |
|---|---|---|---|
| 2026 (part) | +1.9% | $574 | +11.7% |
| 2025 | +2.2% | $690 | +17.7% |
| 2024 | +10.1% | $643 | +24.9% |
| 2023 | +4.5% | $593 | +26.2% |
| 2022 | −26.4% | $608 | −18.2% |
| 2021 (part) | +2.2% | $447 | +26.5% |
"Paid out" is what your holding received that year. Month-end prices; no costs or taxes.
Key facts: RFMZ total return
Data as of · Source: SmarterDividends data
- $10,000 invested in RiverNorth Flexible Municipal Income Fund II (RFMZ) at the end of Feb 2021, with dividends reinvested, was worth $9,025 at the end of Oct 2026: -1.8% a year, against $21,450 (14.4% a year) in the S&P 500.
- Over the 5 years to Oct 2026, RFMZ returned -2.6% a year with dividends reinvested (S&P 500: 12.0%).
- Taking RFMZ's dividends as cash instead of reinvesting them, the same $10,000 ended at $8,899, including $2,921 of cash received; reinvesting added $126.
- RFMZ's best calendar year in that time was 2024 (10.1%) and its worst 2022 (-26.4%), with dividends reinvested.
Cite this page
SmarterDividends, "RiverNorth Flexible Municipal Income Fund II (RFMZ) Total Return Calculator," updated Nov 5, 2026, https://smarterdividends.com/stocks/RFMZ/total-return
RFMZ total return questions
What is RFMZ's total return since Feb 2021?
-10% in total, or -1.8% a year, through Oct 2026 with dividends reinvested. The share price alone fell 40%.
What was RFMZ's worst year?
2022, at -26.4% with dividends reinvested (S&P 500: -18.2%). Its deepest fall from a peak, on month-end values, was -36.7%.
How is total return calculated here?
From month-end prices: the adjusted price counts every dividend reinvested in the month it was paid; the plain price doesn't. The S&P 500 is SPY with its dividends reinvested. No trading costs or taxes.