ISHYX vs. RWMIX
Compare and contrast key facts about Invesco Short Duration High Yield Municipal Fund (ISHYX) and Redwood Managed Municipal Income Fund (RWMIX).
ISHYX is managed by Invesco. It was launched on Sep 29, 2015. RWMIX is managed by Redwood. It was launched on Mar 8, 2017.
Performance
ISHYX vs. RWMIX - Performance Comparison
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ISHYX vs. RWMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
ISHYX Invesco Short Duration High Yield Municipal Fund | 0.35% | 3.92% | 6.43% | 3.58% | -8.99% | 5.96% | -0.31% | 7.84% | 2.27% | 3.68% |
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, ISHYX achieves a 0.35% return, which is significantly higher than RWMIX's 0.01% return.
ISHYX
- 1D
- 0.21%
- 1M
- -1.37%
- YTD
- 0.35%
- 6M
- 2.07%
- 1Y
- 3.52%
- 3Y*
- 4.22%
- 5Y*
- 1.70%
- 10Y*
- 2.86%
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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ISHYX vs. RWMIX - Expense Ratio Comparison
ISHYX has a 0.59% expense ratio, which is lower than RWMIX's 1.00% expense ratio.
Return for Risk
ISHYX vs. RWMIX — Risk / Return Rank
ISHYX
RWMIX
ISHYX vs. RWMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Invesco Short Duration High Yield Municipal Fund (ISHYX) 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.
| ISHYX | RWMIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.00 | -0.32 | +1.32 |
Sortino ratioReturn per unit of downside risk | 1.35 | -0.33 | +1.68 |
Omega ratioGain probability vs. loss probability | 1.28 | 0.90 | +0.39 |
Calmar ratioReturn relative to maximum drawdown | 1.24 | -0.12 | +1.36 |
Martin ratioReturn relative to average drawdown | 3.93 | -0.18 | +4.11 |
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
| ISHYX | RWMIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.00 | -0.32 | +1.32 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.56 | -0.15 | +0.71 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.86 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.91 | 0.37 | +0.54 |
Correlation
The correlation between ISHYX and RWMIX is 0.52, 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
ISHYX vs. RWMIX - Dividend Comparison
ISHYX's dividend yield for the trailing twelve months is around 4.29%, more than RWMIX's 3.58% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
ISHYX Invesco Short Duration High Yield Municipal Fund | 4.29% | 4.65% | 4.40% | 3.38% | 3.99% | 3.58% | 3.58% | 3.45% | 3.59% | 3.51% | 3.60% |
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% |
Drawdowns
ISHYX vs. RWMIX - Drawdown Comparison
The maximum ISHYX drawdown since its inception was -13.64%, which is greater than RWMIX's maximum drawdown of -12.90%. Use the drawdown chart below to compare losses from any high point for ISHYX and RWMIX.
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Drawdown Indicators
| ISHYX | RWMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -13.64% | -12.90% | -0.74% |
Max Drawdown (1Y)Largest decline over 1 year | -3.79% | -5.56% | +1.77% |
Max Drawdown (5Y)Largest decline over 5 years | -12.03% | -12.90% | +0.87% |
Max Drawdown (10Y)Largest decline over 10 years | -13.64% | — | — |
Current DrawdownCurrent decline from peak | -1.58% | -7.10% | +5.52% |
Average DrawdownAverage peak-to-trough decline | -2.68% | -4.65% | +1.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.20% | 3.76% | -2.56% |
Volatility
ISHYX vs. RWMIX - Volatility Comparison
The current volatility for Invesco Short Duration High Yield Municipal Fund (ISHYX) is 0.73%, while Redwood Managed Municipal Income Fund (RWMIX) has a volatility of 1.06%. This indicates that ISHYX experiences smaller price fluctuations and is considered to be less risky 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
| ISHYX | RWMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.73% | 1.06% | -0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 1.41% | 1.56% | -0.15% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.82% | 3.88% | -0.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.06% | 3.92% | -0.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.32% | 3.54% | -0.22% |