RMSIX — Easterly RocMuni Short Term Municipal Bond Fund
Data updated: 2026-01-29
RMSIX — Easterly RocMuni Short Term Municipal Bond Fund. Intermediate Municipal - National Bond · $42.71M AUM. Holdings, fees, performance and SEC filings.
RMSIX Fund Overview
RMSIX — Easterly RocMuni Short Term Municipal Bond Fund is a US mutual fund managed by James Alpha Funds Trust, categorised as Intermediate Municipal - National Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: James Alpha Funds Trust
- Category: Intermediate Municipal - National Bond
- Assets under management: $42.71M
- 1-year return: 3.9%
- Ticker: RMSIX
- SEC CIK: 0001829774
- SEC series ID: S000084512
- Share class ID: C000248911
RMSIX Investment Objective and Strategy
Easterly RocMuni Short Term Municipal Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by James Alpha Funds Trust.
Investment objective
The Easterly ROCMuni Short Term Municipal Bond Fund?s (the ?Short Term Fund? or ?Fund?) primary investment objective is to provide current income exempt from regular federal income tax.
Principal investment strategy
Under normal market conditions, the Fund will invest at least 80% of its net assets (plus borrowings for investment purposes) in municipal debt securities, the income from which is exempt from federal regular individual income tax. The Fund may invest in all types of municipal bonds that are exempt from federal income tax, but may not invest more than 15% of its net assets in securities that produce income subject to the federal alternative minimum tax (the ?AMT?). The Adviser?s security selection process focuses primarily on tax free income-producing securities across sectors and industries. The Fund?s investments in debt securities may have fixed or variable principal payments. The Fund?s investments may have varied interest rate payment and reset terms, including fixed and floating rates, contingent, deferred, payment in kind and auction rate features.
These various features are evaluated in the Adviser?s selection process in the context of certain factors, such as current economic conditions and the current composition of the portfolio. From time to time the Fund may focus its investments in the securities of issuers in the same economic sector, with such focus occurring when a particular sector offers the most opportunities for value. The Fund may invest in debt securities with any maturity or duration. Under normal market conditions, the Fund seeks to maintain a dollar-weighted average effective portfolio maturity of three (3) years or less; however, it can buy securities that have short, intermediate or long maturities. A substantial percentage (i.e., as much as market opportunities will permit) of the securities the Fund buys may be ?callable,?
meaning that the issuer can redeem them before their maturity date. Because of events affecting the bond markets and interest rate changes, the effective portfolio maturity might not meet that target for temporary periods. The Fund will not invest more than 10% of its total assets in securities that are rated below investment grade (sometimes referred to as ?junk bonds?) by a nationally recognized statistical rating organization, such as S&P Global Ratings, or, if unrated, assigned a comparable rating by the Adviser. The Fund also will not invest more than 20% of its total assets in securities rated below the top three investment grade categories. For unrated securities, the Adviser may internally assign ratings to those securities in investment-grade or below-investment-grade categories similar to those of nationally recognized statistical rating organizations, after assessing their credit quality and other factors typically utilized by the nationally recognized statistical rating organizations, such as probability of default calculations.
There can be no assurance, nor is it intended, that the Adviser?s credit analysis process is consistent or comparable with the credit analysis process used by a nationally recognized statistical rating organization. The Fund will not invest more than 10% of its total assets in securities that are unrated by a nationally recognized statistical rating organization, which includes private placement and restricted securities that are unrated. However, this limitation does not apply to an unrated security that the Adviser, in its discretion, determines to be comparable to another security (i) that has substantially similar characteristics, (ii) that is comparable in priority and security (if applicable), (iii) that is issued by the same issuer or guaranteed by the same guarantor, and (iv) that is rated by a nationally recognized statistical rating organization.
In selecting investments for the Fund, the portfolio managers look for high current income; favorable credit characteristics (e.g., willingness and ability to make payments, credit history, etc.); a wide range of issuers including different municipalities, agencies, sectors and revenue sources (e.g., property tax receipts, sales tax receipts, etc.); unrated bonds or securities of smaller issuers that might be overlooked by other investors, which are typically bonds that are non-rated and trade on secondary markets; and special situations that may offer high current income or opportunities for value because such issuers are facing distressed financial or operating circumstances, but the bonds may additionally have specifically pledged security interest or other credit enhancements which deem them attractive to the portfolio managers.
The portfolio managers may consider selling a security if any of these factors no longer apply, but are not required to do so. In selecting securities for the Fund, the Adviser employs a bottom-up research approach with an emphasis on analyzing the stand-alone credit, including financials, bond covenants, management team, and underlying asset value. The above factors are generally applied uniformly to all bond types being evaluated, as the Fund?s strategy seeks to identify the best value opportunities regardless of bond type. The Fund is a non-diversified fund which means that it may invest more of its assets in fewer issuers than ?diversified? mutual funds and, as a result, each position will have a greater impact on the Fund?s returns than would be the case for a ?diversified? mutual fund.
RMSIX Holdings
Top 10 holdings of Easterly RocMuni Short Term Municipal Bond Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Illinois Fin Auth | 4.45% |
| Bexar Cnty Tex Hosp Dist | 3.65% |
| Miami-Dade Cnty Fla | 3.63% |
| Chicago Ill Brd Ed | 3.04% |
| Kenton Cnty Ky Arpt Brd | 2.98% |
| Manhattan Ill | 2.93% |
| Metropolitan Transn Auth N Y | 2.39% |
| Chicago Ill O Hare Intl Arpt | 2.37% |
| San Diego Cnty Calif Regl Arpt Auth | 2.34% |
| Bbh | 2.33% |
RMSIX Portfolio Allocation
Asset-class allocation of Easterly RocMuni Short Term Municipal Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 96.5% |
| Cash & Equivalents | 2.3% |
RMSIX Performance
Total returns for RMSIX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 3.9% |
RMSIX Risk Information
Risk metrics for RMSIX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 1.0%
RMSIX Costs and Fees
RMSIX costs about $70 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.70%
- Gross expense ratio: 0.98%
- Portfolio turnover: 99%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
RMSIX Cashflows
Over the 12 months to 2025-11, Easterly RocMuni Short Term Municipal Bond Fund had net outflows of $20.12M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2025-11 | $206.42K |
| 2025-10 | $489.37K |
| 2025-09 | −$23.03M |
| 2025-08 | −$3.33M |
| 2025-07 | $186.65K |
| 2025-06 | −$11.85M |
RMSIX Debt Constituents
Largest debt holdings of Easterly RocMuni Short Term Municipal Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| Illinois Fin Auth | 4.45% |
| Bexar Cnty Tex Hosp Dist | 3.65% |
| Miami-Dade Cnty Fla | 3.63% |
| Chicago Ill Brd Ed | 3.04% |
| Kenton Cnty Ky Arpt Brd | 2.98% |
| Manhattan Ill | 2.93% |
| Metropolitan Transn Auth N Y | 2.39% |
| Chicago Ill O Hare Intl Arpt | 2.37% |
| San Diego Cnty Calif Regl Arpt Auth | 2.34% |
| San Diego Cnty Calif Regl Arpt Auth | 2.08% |
RMSIX Prospectus and SEC Filings
Official Easterly RocMuni Short Term Municipal Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2025-12-29
- Prospectus (485BPOS) — filed 2024-10-04
- Prospectus supplement (497) — filed 2025-01-03
- Portfolio holdings (N-PORT) — filed 2026-01-29
- Portfolio holdings (N-PORT) — filed 2025-10-30
- Portfolio holdings (N-PORT) — filed 2025-07-28
- Annual census (N-CEN) — filed 2025-11-14
Related Funds
Other Intermediate Municipal - National Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.