- ISIN
- US78249R1564
- Issuer
- Russell
- Inception Date
- May 31, 2015
- Category
- High Yield Muni
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
RTHAX Performance Chart
Russell Investments Tax-Exempt High Yield Bond Fund (RTHAX) is up 2.7% since the beginning of the year. RTHAX is currently trading at $10 per share. Investors who bought $1,000 worth of RTHAX shares 5 years ago would now be looking at an investment worth $1,032.
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Returns By Period
Russell Investments Tax-Exempt High Yield Bond Fund (RTHAX) has returned 2.67% so far this year and 6.99% over the past 12 months.
Russell Investments Tax-Exempt High Yield Bond Fund
- 1D
- 0.10%
- 1M
- 0.86%
- YTD
- 2.67%
- 6M
- 2.77%
- 1Y
- 6.99%
- 3Y*
- 4.49%
- 5Y*
- 0.63%
- 10Y*
- 2.93%
Benchmark (S&P 500 Index)
- 1D
- -2.64%
- 1M
- 0.25%
- YTD
- 7.86%
- 6M
- 7.47%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
RTHAX Monthly Returns History
Based on dividend-adjusted daily data since Jan 4, 2016, RTHAX's average daily return is +0.01%, while the average monthly return is +0.29%. At this rate, an investment would double in approximately 19.9 years.
Historically, 67% of months were positive and 33% were negative. The best month was Nov 2023 with a return of +7.5%, while the worst month was Mar 2020 at -9.3%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.
On a daily basis, RTHAX closed higher 41% of trading days. The best single day was Mar 25, 2020 with a return of +4.1%, while the worst single day was Mar 19, 2020 at -4.3%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.83% | 1.40% | -2.23% | 1.55% | 0.59% | 0.55% | 2.67% | ||||||
| 2025 | 0.61% | 1.09% | -1.70% | -1.59% | -0.27% | 0.59% | -1.44% | 0.69% | 2.82% | 1.28% | 0.23% | -0.13% | 2.11% |
| 2024 | 0.41% | 0.48% | 0.53% | -1.40% | 0.57% | 2.32% | 0.90% | 0.78% | 1.19% | -1.58% | 2.20% | -1.92% | 4.49% |
| 2023 | 4.12% | -2.74% | 1.66% | 0.46% | -0.52% | 1.21% | 0.41% | -1.53% | -3.41% | -2.20% | 7.46% | 3.13% | 7.78% |
| 2022 | -2.56% | -0.99% | -3.46% | -4.00% | 1.24% | -3.58% | 3.70% | -2.50% | -5.51% | -1.74% | 5.96% | -0.52% | -13.62% |
| 2021 | 1.90% | -1.11% | 0.95% | 1.29% | 0.92% | 0.93% | 0.84% | -0.46% | -0.90% | -0.40% | 1.30% | 0.19% | 5.54% |
Benchmark Metrics
Russell Investments Tax-Exempt High Yield Bond Fund has an annualized alpha of 5.47%, beta of 0.06, and R2 of 0.07 versus S&P 500 Index. Calculated based on daily prices since January 05, 2016.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (22.89%) than losses (18.01%) - typical of diversified or defensive assets.
- Beta of 0.06 may look defensive, but with R2 of 0.07 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.07 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 5.47%
- Beta
- 0.06
- R²
- 0.07
- Upside Capture
- 22.89%
- Downside Capture
- 18.01%
Expense Ratio
RTHAX has an expense ratio of 0.89%, placing it in the medium range.
Return for Risk
Risk / Return Rank
RTHAX ranks 68 for risk / return — better than 68% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Russell Investments Tax-Exempt High Yield Bond Fund (RTHAX) and compare them to S&P 500 Index.
| RTHAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.66 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.60 | — | — |
| Martin ratioReturn relative to average drawdown | 8.54 | — | — |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Russell Investments Tax-Exempt High Yield Bond Fund provided a 4.21% dividend yield over the last twelve months, with an annual payout of $0.41 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.41 | $0.35 | $0.40 | $0.39 | $0.34 | $0.32 | $0.34 | $0.42 | $0.40 | $0.36 | $0.41 |
Dividend yield | 4.21% | 3.60% | 4.02% | 3.97% | 3.64% | 2.80% | 3.10% | 3.83% | 3.86% | 3.44% | 4.06% |
Monthly Dividends
The table displays the monthly dividend distributions for Russell Investments Tax-Exempt High Yield Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.08 | $0.03 | $0.04 | $0.04 | $0.03 | $0.22 | ||||||
| 2025 | $0.00 | $0.02 | $0.03 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.35 |
| 2024 | $0.00 | $0.02 | $0.02 | $0.03 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.02 | $0.04 | $0.09 | $0.40 |
| 2023 | $0.00 | $0.02 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.03 | $0.04 | $0.08 | $0.39 |
| 2022 | $0.00 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.07 | $0.34 |
| 2021 | $0.00 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.05 | $0.32 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Russell Investments Tax-Exempt High Yield Bond Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Russell Investments Tax-Exempt High Yield Bond Fund was 18.89%, occurring on Oct 25, 2022. Recovery took 822 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -18.89%Oct 2022 | 1y 2mo | 3y 3mo | 4y 6moJul 2021 - Feb 2026 |
COVID crash2020 | -16.29%Mar 2020 | 18d | 9mo 20d | 10mo 8dMar 2020 - Jan 2021 |
2016 pullback2016 | -6.55%Dec 2016 | 1mo 29d | 7mo 21d | 9mo 20dOct 2016 - Jul 2017 |
2026 pullback2026 | -2.74%Mar 2026 | 25d | 2mo 7d | 3mo 2dMar 2026 - Jun 2026 |
Rate-hike selloffLate 2018 | -2.39%Nov 2018 | 2mo 11d | 3mo 7d | 5mo 18dAug 2018 - Feb 2019 |
Drawdown Indicators
| RTHAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.89% | -9.10% | -9.79% |
Max Drawdown (1Y)Largest decline over 1 year | -2.74% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -7.56% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -18.89% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -18.89% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.97% | +2.97% |
Average DrawdownAverage peak-to-trough decline | -3.73% | -1.13% | -2.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | — | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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