KCCIX vs. RFAYX

Last updated Jun 5, 2026

KCCIX (Knights of Columbus Core Bond Fund) and RFAYX (Russell Investments Investment Grade Bond Fund) are both Intermediate Core Bond funds. Over the past 10 years, KCCIX returned 1.70%/yr vs 1.57%/yr for RFAYX. Their correlation of 0.94 suggests significant overlap in exposure. KCCIX charges 0.71%/yr vs 0.32%/yr for RFAYX.

Performance

KCCIX vs. RFAYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Knights of Columbus Core Bond Fund (KCCIX) and Russell Investments Investment Grade Bond Fund (RFAYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KCCIX achieves a 0.43% return, which is significantly higher than RFAYX's 0.16% return. Over the past 10 years, KCCIX has outperformed RFAYX with an annualized return of 1.70%, while RFAYX has yielded a comparatively lower 1.57% annualized return.

KCCIX

• 1D: -0.11%
• 1M: 0.23%
• YTD: 0.43%
• 6M: 0.43%
• 1Y: 4.69%
• 3Y*: 3.90%
• 5Y*: -0.24%
• 10Y*: 1.70%

RFAYX

• 1D: -0.22%
• 1M: 0.07%
• YTD: 0.16%
• 6M: 0.28%
• 1Y: 4.56%
• 3Y*: 3.89%
• 5Y*: -0.39%
• 10Y*: 1.57%

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

KCCIX vs. RFAYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KCCIX Knights of Columbus Core Bond Fund	0.43%	6.94%	1.50%	4.99%	-14.30%	-0.58%	7.21%	9.78%	-0.72%	4.55%
RFAYX Russell Investments Investment Grade Bond Fund	0.16%	7.47%	1.57%	4.85%	-14.80%	-1.09%	9.10%	9.03%	-0.56%	3.57%

Correlation

The correlation between KCCIX and RFAYX is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.94

The correlation between KCCIX and RFAYX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

KCCIX vs. RFAYX — Risk / Return Rank

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

KCCIX

KCCIX Risk / Return Rank: 28
KCCIX Sharpe Ratio Rank: 26
KCCIX Sortino Ratio Rank: 27
KCCIX Omega Ratio Rank: 26
KCCIX Calmar Ratio Rank: 32
KCCIX Martin Ratio Rank: 26

RFAYX

RFAYX Risk / Return Rank: 26
RFAYX Sharpe Ratio Rank: 26
RFAYX Sortino Ratio Rank: 29
RFAYX Omega Ratio Rank: 25
RFAYX Calmar Ratio Rank: 28
RFAYX Martin Ratio Rank: 24

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.

KCCIX vs. RFAYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Knights of Columbus Core Bond Fund (KCCIX) and Russell Investments Investment Grade Bond Fund (RFAYX). 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.

	KCCIX	RFAYX	Difference
Sharpe ratio: Return per unit of total volatility	1.44	1.43	+0.01
Sortino ratio: Return per unit of downside risk	2.14	2.16	-0.02
Omega ratio: Gain probability vs. loss probability	1.26	1.25	+0.01
Calmar ratio: Return relative to maximum drawdown	2.06	1.91	+0.14
Martin ratio: Return relative to average drawdown	6.13	5.69	+0.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KCCIX vs. RFAYX - Sharpe Ratio Comparison

The current KCCIX Sharpe Ratio is 1.44, which is comparable to the RFAYX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of KCCIX and RFAYX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KCCIX	RFAYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.44	1.43	+0.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.04	-0.07	+0.02
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	0.32	+0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.75	-0.32

Drawdowns

KCCIX vs. RFAYX - Drawdown Comparison

The maximum KCCIX drawdown since its inception was -18.52%, smaller than the maximum RFAYX drawdown of -19.61%. Use the drawdown chart below to compare losses from any high point for KCCIX and RFAYX.

Drawdown Indicators

	KCCIX	RFAYX	Difference
Max Drawdown Largest peak-to-trough decline	-18.52%	-19.61%	+1.09%
Max Drawdown (1Y) Largest decline over 1 year	-2.59%	-2.73%	+0.14%
Max Drawdown (3Y) Largest decline over 3 years	-5.84%	-6.32%	+0.48%
Max Drawdown (5Y) Largest decline over 5 years	-18.52%	-19.61%	+1.09%
Max Drawdown (10Y) Largest decline over 10 years	-18.52%	-19.61%	+1.09%
Current Drawdown Current decline from peak	-3.12%	-4.21%	+1.09%
Average Drawdown Average peak-to-trough decline	-4.80%	-2.98%	-1.82%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.87%	0.91%	-0.04%

Volatility

KCCIX vs. RFAYX - Volatility Comparison

The current volatility for Knights of Columbus Core Bond Fund (KCCIX) is 1.18%, while Russell Investments Investment Grade Bond Fund (RFAYX) has a volatility of 1.26%. This indicates that KCCIX experiences smaller price fluctuations and is considered to be less risky than RFAYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KCCIX	RFAYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.18%	1.26%	-0.08%
Volatility (6M) Calculated over the trailing 6-month period	2.66%	2.52%	+0.14%
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	3.65%	+0.04%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.55%	5.90%	-0.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.69%	4.90%	-0.21%

KCCIX vs. RFAYX - Expense Ratio Comparison

KCCIX has a 0.71% expense ratio, which is higher than RFAYX's 0.32% expense ratio.

Dividends

KCCIX vs. RFAYX - Dividend Comparison

KCCIX's dividend yield for the trailing twelve months is around 4.03%, less than RFAYX's 5.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KCCIX Knights of Columbus Core Bond Fund	4.03%	3.95%	3.73%	3.23%	2.80%	2.19%	3.19%	2.97%	2.96%	2.63%	2.41%	0.00%
RFAYX Russell Investments Investment Grade Bond Fund	5.44%	5.19%	4.74%	3.71%	1.25%	2.50%	5.27%	3.46%	2.67%	1.57%	5.45%	4.09%

Frequently Asked Questions

Can I hold both KCCIX and RFAYX in my portfolio?

With a correlation of 0.95, KCCIX and RFAYX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, KCCIX or RFAYX?

RFAYX has higher volatility (1.26%) compared to KCCIX (1.18%). In terms of maximum drawdown, KCCIX dropped -18.52% vs RFAYX's -19.61%.

Which has better risk-adjusted returns?

KCCIX currently has the higher Sharpe Ratio (1.44 vs 1.43), 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.