HIMYX vs. RWMIX
Compare and contrast key facts about Pioneer High Income Municipal Fund (HIMYX) and Redwood Managed Municipal Income Fund (RWMIX).
HIMYX is managed by Amundi. It was launched on Oct 15, 2006. RWMIX is managed by Redwood. It was launched on Mar 8, 2017.
Performance
HIMYX vs. RWMIX - Performance Comparison
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HIMYX vs. RWMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
HIMYX Pioneer High Income Municipal Fund | -0.90% | -1.50% | 6.07% | 3.64% | -13.08% | 6.69% | 1.85% | 9.56% | 4.15% | 3.26% |
RWMIX Redwood Managed Municipal Income Fund | 0.01% | -2.18% | 2.69% | 3.77% | -9.56% | 4.28% | 0.13% | 10.09% | 0.30% | 3.08% |
Returns By Period
In the year-to-date period, HIMYX achieves a -0.90% return, which is significantly lower than RWMIX's 0.01% return.
HIMYX
- 1D
- 0.37%
- 1M
- -2.66%
- YTD
- -0.90%
- 6M
- -2.34%
- 1Y
- -2.72%
- 3Y*
- 1.70%
- 5Y*
- -0.43%
- 10Y*
- 2.19%
RWMIX
- 1D
- 0.00%
- 1M
- -1.59%
- YTD
- 0.01%
- 6M
- 0.93%
- 1Y
- -1.68%
- 3Y*
- 0.91%
- 5Y*
- -0.60%
- 10Y*
- —
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HIMYX vs. RWMIX - Expense Ratio Comparison
HIMYX has a 0.55% expense ratio, which is lower than RWMIX's 1.00% expense ratio.
Return for Risk
HIMYX vs. RWMIX — Risk / Return Rank
HIMYX
RWMIX
HIMYX vs. RWMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Pioneer High Income Municipal Fund (HIMYX) 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.
| HIMYX | RWMIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.27 | -0.32 | +0.05 |
Sortino ratioReturn per unit of downside risk | -0.34 | -0.33 | -0.01 |
Omega ratioGain probability vs. loss probability | 0.94 | 0.90 | +0.04 |
Calmar ratioReturn relative to maximum drawdown | -0.19 | -0.12 | -0.07 |
Martin ratioReturn relative to average drawdown | -0.38 | -0.18 | -0.19 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| HIMYX | RWMIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.27 | -0.32 | +0.05 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.08 | -0.15 | +0.08 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.44 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.52 | 0.37 | +0.15 |
Correlation
The correlation between HIMYX and RWMIX is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
HIMYX vs. RWMIX - Dividend Comparison
HIMYX's dividend yield for the trailing twelve months is around 8.24%, more than RWMIX's 3.58% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HIMYX Pioneer High Income Municipal Fund | 8.24% | 8.63% | 5.32% | 4.97% | 3.88% | 3.71% | 3.96% | 5.35% | 5.20% | 5.00% | 5.66% | 5.65% |
RWMIX Redwood Managed Municipal Income Fund | 3.58% | 2.67% | 4.08% | 2.80% | 1.02% | 6.80% | 2.16% | 3.36% | 2.13% | 2.06% | 0.00% | 0.00% |
Drawdowns
HIMYX vs. RWMIX - Drawdown Comparison
The maximum HIMYX drawdown since its inception was -35.00%, which is greater than RWMIX's maximum drawdown of -12.90%. Use the drawdown chart below to compare losses from any high point for HIMYX and RWMIX.
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Drawdown Indicators
| HIMYX | RWMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.00% | -12.90% | -22.10% |
Max Drawdown (1Y)Largest decline over 1 year | -6.96% | -5.56% | -1.40% |
Max Drawdown (5Y)Largest decline over 5 years | -19.32% | -12.90% | -6.42% |
Max Drawdown (10Y)Largest decline over 10 years | -19.32% | — | — |
Current DrawdownCurrent decline from peak | -6.73% | -7.10% | +0.37% |
Average DrawdownAverage peak-to-trough decline | -5.66% | -4.65% | -1.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.50% | 3.76% | -0.26% |
Volatility
HIMYX vs. RWMIX - Volatility Comparison
Pioneer High Income Municipal Fund (HIMYX) has a higher volatility of 1.41% compared to Redwood Managed Municipal Income Fund (RWMIX) at 1.06%. This indicates that HIMYX's price experiences larger fluctuations and is considered to be riskier than RWMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| HIMYX | RWMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.41% | 1.06% | +0.35% |
Volatility (6M)Calculated over the trailing 6-month period | 4.32% | 1.56% | +2.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.39% | 3.88% | +4.51% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.62% | 3.92% | +1.70% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.04% | 3.54% | +1.50% |