AHMFX vs. RWMIX
AHMFX (American High-Income Municipal Bond Fund Class F-2) and RWMIX (Redwood Managed Municipal Income Fund) are both High Yield Muni funds. Over the past 5 years, AHMFX returned 1.36%/yr vs -1.68%/yr for RWMIX. Their 0.61 correlation means they have sometimes moved together and sometimes differently. AHMFX charges 0.42%/yr vs 1.00%/yr for RWMIX.
Performance
AHMFX vs. RWMIX - Performance Comparison
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Returns By Period
In the year-to-date period, AHMFX achieves a 1.26% return, which is significantly higher than RWMIX's -1.16% return.
AHMFX
- 1D
- -0.20%
- 1M
- -2.06%
- 6M
- 0.60%
- YTD
- 1.26%
- 1Y
- 6.46%
- 3Y*
- 5.69%
- 5Y*
- 1.36%
- 10Y*
- 3.19%
- ALL TIME*
- 5.92%
RWMIX
- 1D
- -0.16%
- 1M
- -1.86%
- 6M
- -1.77%
- YTD
- -1.16%
- 1Y
- 1.36%
- 3Y*
- 1.35%
- 5Y*
- -1.68%
- 10Y*
- —
- ALL TIME*
- 1.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
AHMFX vs. RWMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AHMFX American High-Income Municipal Bond Fund Class F-2 | 1.26% | 6.03% | 6.45% | 7.04% | -12.44% | 5.49% | 4.61% | 9.12% | 1.80% | 3.84% |
RWMIX Redwood Managed Municipal Income Fund | -1.16% | -2.18% | 2.69% | 3.77% | -9.56% | 4.28% | 0.13% | 10.09% | 0.30% | 3.08% |
Correlation
The correlation between AHMFX and RWMIX is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.71 |
Correlation (3Y) Balances recent behavior with more history. | 0.60 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.60 |
Correlation (All Time) Calculated using the full available price history since Jun 12, 2017 | 0.61 |
The correlation between AHMFX and RWMIX shifts across timeframes, from 0.60 (5 years) to 0.71 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
AHMFX vs. RWMIX — Risk / Return Rank
AHMFX
RWMIX
AHMFX vs. RWMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American High-Income Municipal Bond Fund Class F-2 (AHMFX) and Redwood Managed Municipal Income Fund (RWMIX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| AHMFX | RWMIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.71 | ||
| Sortino ratioReturn per unit of downside risk | +2.78 | ||
| Omega ratioGain probability vs. loss probability | 1.53 | 1.13 | +0.40 |
| Calmar ratioReturn relative to maximum drawdown | 2.53 | 0.46 | +2.08 |
| Martin ratioReturn relative to average drawdown | 8.74 | 1.11 | +7.64 |
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Drawdowns
AHMFX vs. RWMIX - Drawdown Comparison
The maximum AHMFX drawdown since its inception was -17.65%, which is greater than RWMIX's maximum drawdown of -12.90%. Use the drawdown chart below to compare losses from any high point for AHMFX and RWMIX.
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Drawdown Indicators
| AHMFX | RWMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.65% | -12.90% | -4.75% |
Max Drawdown (1Y)Largest decline over 1 year | -2.76% | -3.03% | +0.27% |
Max Drawdown (3Y)Largest decline over 3 years | -5.68% | -8.09% | +2.41% |
Max Drawdown (5Y)Largest decline over 5 years | -17.65% | -12.90% | -4.75% |
Max Drawdown (10Y)Largest decline over 10 years | -17.65% | — | — |
Current DrawdownCurrent decline from peak | -2.06% | -8.19% | +6.13% |
Average DrawdownAverage peak-to-trough decline | -2.35% | -4.74% | +2.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.80% | 1.24% | -0.44% |
Volatility
AHMFX vs. RWMIX - Volatility Comparison
American High-Income Municipal Bond Fund Class F-2 (AHMFX) and Redwood Managed Municipal Income Fund (RWMIX) have volatilities of 0.93% and 0.94%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AHMFX | RWMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.93% | 0.94% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.39% | 1.89% | +0.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.08% | 2.28% | +0.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.88% | 3.95% | +0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.55% | 3.51% | +1.04% |
AHMFX vs. RWMIX - Expense Ratio Comparison
AHMFX has a 0.42% expense ratio, which is lower than RWMIX's 1.00% expense ratio.
Dividends
AHMFX vs. RWMIX - Dividend Comparison
AHMFX's dividend yield for the trailing twelve months is around 3.81%, less than RWMIX's 4.03% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
AHMFX American High-Income Municipal Bond Fund Class F-2 | 3.81% | 5.58% | 4.04% | 2.97% | 2.71% | 3.44% | 3.60% | 3.68% | 3.88% | 4.19% | 3.74% | 4.19% |
RWMIX Redwood Managed Municipal Income Fund | 4.03% | 2.67% | 4.08% | 2.80% | 1.02% | 6.80% | 2.16% | 3.36% | 2.13% | 2.06% | 0.00% | 0.00% |
Frequently Asked Questions
AHMFX and RWMIX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RWMIX has higher volatility (0.94%) compared to AHMFX (0.93%). In terms of maximum drawdown, AHMFX dropped -17.65% vs RWMIX's -12.90%.
AHMFX currently has the higher Sharpe Ratio (2.31 vs 0.60), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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