AXSIX vs. RCTIX

Last updated Jun 23, 2026

AXSIX (Axonic Strategic Income Fund) and RCTIX (River Canyon Total Return Bond Fund) are both mutual funds - AXSIX is a Multisector Bonds fund managed by Axonic, while RCTIX is a Short-Term Bond fund managed by River Canyon. Over the past 5 years, AXSIX returned 3.75%/yr vs 4.50%/yr for RCTIX. At a 0.41 correlation, their price movements are largely independent. AXSIX charges 1.00%/yr vs 0.89%/yr for RCTIX.

Performance

AXSIX vs. RCTIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Axonic Strategic Income Fund (AXSIX) and River Canyon Total Return Bond Fund (RCTIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AXSIX achieves a 1.94% return, which is significantly higher than RCTIX's 0.92% return.

AXSIX

• 1D: 0.11%
• 1M: 0.75%
• YTD: 1.94%
• 6M: 1.94%
• 1Y: 5.78%
• 3Y*: 7.33%
• 5Y*: 3.75%
• 10Y*: —

RCTIX

• 1D: 0.10%
• 1M: 0.71%
• YTD: 0.92%
• 6M: 1.17%
• 1Y: 4.72%
• 3Y*: 7.47%
• 5Y*: 4.50%
• 10Y*: 5.57%

*Multi-year figures are annualized to reflect compound growth (CAGR)

AXSIX vs. RCTIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
AXSIX Axonic Strategic Income Fund	1.94%	6.71%	8.30%	7.54%	-6.81%	5.91%	-0.16%
RCTIX River Canyon Total Return Bond Fund	0.92%	7.75%	7.49%	10.02%	-4.07%	4.26%	6.42%

Correlation

The correlation between AXSIX and RCTIX is 0.63, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.63
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.48
Correlation (All Time) Calculated using the full available price history since Jan 2, 2020	0.41

Over the past year, AXSIX and RCTIX have become more correlated (0.63) than their long-term average of 0.41, meaning their price movements have been converging.

Return for Risk

AXSIX vs. RCTIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

AXSIX

AXSIX Risk / Return Rank: 90
AXSIX Sharpe Ratio Rank: 79
AXSIX Sortino Ratio Rank: 96
AXSIX Omega Ratio Rank: 92
AXSIX Calmar Ratio Rank: 93
AXSIX Martin Ratio Rank: 92

RCTIX

RCTIX Risk / Return Rank: 73
RCTIX Sharpe Ratio Rank: 60
RCTIX Sortino Ratio Rank: 68
RCTIX Omega Ratio Rank: 71
RCTIX Calmar Ratio Rank: 88
RCTIX Martin Ratio Rank: 76

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

AXSIX vs. RCTIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Axonic Strategic Income Fund (AXSIX) and River Canyon Total Return Bond Fund (RCTIX). 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.

	AXSIX	RCTIX	Difference
Sharpe ratio: Return per unit of total volatility	2.40	2.10	+0.30
Sortino ratio: Return per unit of downside risk	5.12	3.12	+1.99
Omega ratio: Gain probability vs. loss probability	1.66	1.43	+0.24
Calmar ratio: Return relative to maximum drawdown	4.76	4.04	+0.72
Martin ratio: Return relative to average drawdown	17.40	13.38	+4.02

AXSIX vs. RCTIX - Sharpe Ratio Comparison

The current AXSIX Sharpe Ratio is 2.40, which is comparable to the RCTIX Sharpe Ratio of 2.10. The chart below compares the historical Sharpe Ratios of AXSIX and RCTIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

AXSIX vs. RCTIX - Drawdown Comparison

The maximum AXSIX drawdown since its inception was -12.55%, which is greater than RCTIX's maximum drawdown of -10.89%. Use the drawdown chart below to compare losses from any high point for AXSIX and RCTIX.

Drawdown Indicators

	AXSIX	RCTIX	Difference
Max Drawdown Largest peak-to-trough decline	-12.55%	-10.89%	-1.66%
Max Drawdown (1Y) Largest decline over 1 year	-1.22%	-1.20%	-0.02%
Max Drawdown (3Y) Largest decline over 3 years	-1.22%	-1.48%	+0.26%
Max Drawdown (5Y) Largest decline over 5 years	-6.87%	-6.17%	-0.70%
Max Drawdown (10Y) Largest decline over 10 years	—	-10.89%	—
Current Drawdown Current decline from peak	-0.11%	-0.20%	+0.09%
Average Drawdown Average peak-to-trough decline	-1.95%	-1.08%	-0.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.33%	0.36%	-0.03%

Volatility

AXSIX vs. RCTIX - Volatility Comparison

The current volatility for Axonic Strategic Income Fund (AXSIX) is 0.74%, while River Canyon Total Return Bond Fund (RCTIX) has a volatility of 0.78%. This indicates that AXSIX experiences smaller price fluctuations and is considered to be less risky than RCTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AXSIX	RCTIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.74%	0.78%	-0.04%
Volatility (6M) Calculated over the trailing 6-month period	1.65%	1.84%	-0.19%
Volatility (1Y) Calculated over the trailing 1-year period	2.42%	2.32%	+0.10%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.19%	2.50%	-0.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.69%	3.74%	-0.05%

AXSIX vs. RCTIX - Expense Ratio Comparison

AXSIX has a 1.00% expense ratio, which is higher than RCTIX's 0.89% expense ratio.

Dividends

AXSIX vs. RCTIX - Dividend Comparison

AXSIX's dividend yield for the trailing twelve months is around 6.21%, less than RCTIX's 7.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
AXSIX Axonic Strategic Income Fund	6.21%	6.39%	6.52%	6.24%	3.89%	6.70%	2.04%	0.00%	0.00%	0.00%	0.00%
RCTIX River Canyon Total Return Bond Fund	7.26%	7.31%	7.89%	8.50%	5.98%	3.02%	5.97%	4.97%	3.30%	4.89%	2.16%

Frequently Asked Questions

Can I hold both AXSIX and RCTIX in my portfolio?

AXSIX and RCTIX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AXSIX or RCTIX?

RCTIX has higher volatility (0.78%) compared to AXSIX (0.74%). In terms of maximum drawdown, AXSIX dropped -12.55% vs RCTIX's -10.89%.

Which has better risk-adjusted returns?

AXSIX currently has the higher Sharpe Ratio (2.40 vs 2.10), 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.