Eaton Vance California Municipal Income (CEV) vs RiverNorth Flexible Municipal Income Fund (RFM)
Head-to-head comparison of performance, valuation, growth, profitability and dividends. Prices delayed 15 minutes; data as of Oct 8, 2026.
Summary
Eaton Vance California Municipal Income (CEV) has outperformed RiverNorth Flexible Municipal Income Fund (RFM) over the past year, gaining 1.9% versus a loss of 10.5%. Over five years, CEV leads with a -25.3% price change compared with -45.6% for RFM. RiverNorth Flexible Municipal Income Fund is the larger company by market cap ($78.6 million vs $71.5 million), about 1.1 times the size.
On valuation, RiverNorth Flexible Municipal Income Fund trades at a lower trailing P/E (7.2x vs 9.8x for Eaton Vance California Municipal Income). Eaton Vance California Municipal Income pays a dividend yielding 5.91%, while RiverNorth Flexible Municipal Income Fund does not currently pay one.
Summary generated from market data by MetaCap's automated system. Methodology
Relative performance
Percent change in share price from the first common trading day shown; excludes dividends.
Head-to-head
| Metric | CEV | RFM |
|---|---|---|
| Share price | $10.16 | $12.85 |
| Market cap | $71.46M | $78.57M |
| 1-day change | -0.78% | -0.62% |
| YTD return | +1.20% | -8.02% |
| 1-year return | +1.91% | -10.45% |
| 5-year return | -25.29% | -45.64% |
| P/E ratio (TTM) | 9.77 | 7.22 |
| EPS (TTM) | $1.04 | $1.78 |
| Dividend yield | 5.91% | 8.23% |
| Annual dividend | $0.60 | $0.00 |
| 52-week high | $10.84 | $15.03 |
| 52-week low | $9.77 | $12.52 |
| Distance from 52-week high | -6.27% | -14.50% |
| Average volume | 28.99K | 16.17K |
| Shares outstanding | 7.03M | 6.11M |
| Sector | Finance | Finance |
| Industry | Finance/Investors Services | Finance/Investors Services |
Highlighted cells mark the higher value for growth, returns, margins and yield, and the lower value for P/E ratios. Highlighting is a mechanical comparison, not a recommendation.
Key differences
- CEV has outperformed RFM by 12.4 percentage points over the past year.
- Eaton Vance California Municipal Income trades at a higher earnings multiple (9.8x vs 7.2x trailing P/E).
- RiverNorth Flexible Municipal Income Fund offers a meaningfully higher dividend yield (8.23% vs 5.91%).
CEV vs RFM FAQ
Which is bigger, Eaton Vance California Municipal Income or RiverNorth Flexible Municipal Income Fund?
RiverNorth Flexible Municipal Income Fund (RFM) is larger, with a market capitalization of $78.57M compared with $71.46M for Eaton Vance California Municipal Income (CEV).
Which stock has performed better over the past year, CEV or RFM?
CEV returned +1.91% over the past 12 months, compared with -10.45% for RFM (price return, excluding dividends). Past performance does not predict future results.
Which has the lower P/E ratio, CEV or RFM?
RFM has the lower trailing P/E at 7.2, versus 9.8 for CEV. A lower P/E is not by itself a sign of a better investment; it can reflect slower expected growth or higher risk.
Which pays a higher dividend, Eaton Vance California Municipal Income or RiverNorth Flexible Municipal Income Fund?
RiverNorth Flexible Municipal Income Fund has the higher yield at 8.23%, compared with 5.91% for Eaton Vance California Municipal Income.
Are Eaton Vance California Municipal Income and RiverNorth Flexible Municipal Income Fund in the same industry?
Yes. Both are classified in the Finance/Investors Services industry within the Finance sector.