My understanding is that an RMS meter won't be accurate if there are harmonics present.
Unfortunately, the term "True RMS" has lost credibility due to bottom feeder meter mfrs just using it as a "marketing term". My rule of thumb is that if you spent less than $500 for a meter, trying to read harmonic current with it is a waste of time. I used to say $1,000, but people here have pointed out some good meters from Fluke that are around $500 (can't remember the numbers now). I had a Fluke 77 for years that was great at seeing RMS current coming from soft starters and SCR controllers that had chopped sine waves, but it didn't see harmonic currents worth a damn. I didn't know that until I got a Fluke 438 scope meter and compared them. The 77 showed me what a panel meter showed me which I believe was fundamental current (60Hz) only, the 438 showed me about 40% more current in higher order harmonics, which is likely seen by the bi-metal thermal trip devices inside of the breaker.
In days gone by, you may have only needed to think about harmonics when you had more than 30% of you total current being non-linear loads, which wasn't very often. But now, virtually EVERYTHING we install is a non-linear load, defined as anything with a power supply or drive. So when lighting was incandescent or had magnetic ballasts, that was linear, now we have CFL, LED, HID with solid state ballasts, computer power supplies, UPSs, VFDs, ECMs, servos, DC power supplies etc etc. ALL of those are now non-linear devices that create harmonics. Get used to having to deal with this...