COMP <GO>

PMM vs RMMZ // RETURN ON INVESTED CAPITAL (ROIC)

Franklin Managed Municipal Income Trust (NYSE) VS. RiverNorth Managed Duration Municipal Income Fund II Inc. (NYSE) • 15-METRIC TALLY: PMM 2 — RMMZ 0

■ METRIC PARITY

PMM — Franklin Managed Municipal Income Trust ROARABLE C- • RQD 59/100

LAST: $6.18 (+1.31%) • MKT CAP: $301.2M

DES <GO> FA <GO> 10-K RED <GO>

roic

—

RMMZ — RiverNorth Managed Duration Municipal Income Fund II Inc. ROARABLE D+ • RQD 57/100

LAST: $14.01 (+2.34%) • MKT CAP: $276.6M

DES <GO> FA <GO> 10-K RED <GO>

roic

—

15-METRIC INSTITUTIONAL SIDE-BY-SIDE SCORECARD (PMM VS. RMMZ) EMERALD CELL = QUANTITATIVE EDGE

INSTITUTIONAL METRIC	PMM	RMMZ	SPREAD (A - B)	ADVANTAGE	DEDICATED URL
Gross Profit Margin	—	—	—	TIE	/gross-margins <GO>
Return on Invested Capital (ROIC) ACTIVE	—	—	—	TIE	/roic <GO>
EV/EBITDA & P/E Valuation	—	—	—	TIE	/valuation <GO>
Free Cash Flow Yield	—	—	—	TIE	/fcf-yield <GO>
Operating Margin	—	—	—	TIE	/operating-margins <GO>
Net Profit Margin	—	—	—	TIE	/net-margins <GO>
Revenue Growth (YoY)	—	—	—	TIE	/revenue-growth <GO>
Dividend Yield & FCF Payout Safety	0.00%	0.00%	0.00	TIE	/dividend-safety <GO>
Altman Z-Score & Debt/Equity	—	—	—	TIE	/balance-sheet <GO>
Piotroski F-Score Quality	—	—	—	TIE	/piotroski-score <GO>
Options Implied Move & Put/Call Skew	—	—	—	TIE	/options-implied-move <GO>
RSI-14 & 200D SMA Momentum	71.5	56.5	+15.04	PMM	/rsi-technicals <GO>
10Y Yield & FRED Macro Beta	—	—	—	TIE	/macro-sensitivity <GO>
Forward P/E Multiple	—	—	—	TIE	/forward-pe <GO>
Enterprise Scale & Market Cap	$301.2M	$276.6M	$24.7M	PMM	/market-cap <GO>

5-YEAR HISTORICAL XBRL REVENUE & MARGIN TRAJECTORY SEC FORM 10-K FY

FISCAL YEAR	PMM REV	RMMZ REV	PMM GROSS %	RMMZ GROSS %	PMM FCF	RMMZ FCF
INSPECT INDIVIDUAL XBRL MODELS AT PMM FA <GO> AND RMMZ FA <GO>.

FRED MACRO REGIME CORRELATION COMPARISON PEARSON r

PMM // BETA —

RMMZ // BETA —