REMSX vs. REAYX

Last updated Jun 5, 2026

REMSX (Russell Investments Emerging Markets Fund) and REAYX (Russell Investments Equity Income Fund) are both mutual funds - REMSX is a Emerging Markets Diversified fund managed by Russell, while REAYX is a Large Cap Value Equities fund managed by Russell. Over the past 5 years, REMSX returned 7.47%/yr vs 9.40%/yr for REAYX. A 0.61 correlation means they provide meaningful diversification when combined. REMSX charges 1.19%/yr vs 0.66%/yr for REAYX.

Performance

REMSX vs. REAYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Russell Investments Emerging Markets Fund (REMSX) and Russell Investments Equity Income Fund (REAYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, REMSX achieves a 29.25% return, which is significantly higher than REAYX's 10.99% return.

REMSX

• 1D: -0.99%
• 1M: 7.90%
• YTD: 29.25%
• 6M: 31.12%
• 1Y: 55.68%
• 3Y*: 24.75%
• 5Y*: 7.47%
• 10Y*: 9.68%

REAYX

• 1D: -0.28%
• 1M: 2.07%
• YTD: 10.99%
• 6M: 11.99%
• 1Y: 23.52%
• 3Y*: 16.45%
• 5Y*: 9.40%
• 10Y*: —

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

REMSX vs. REAYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
REMSX Russell Investments Emerging Markets Fund	29.25%	33.98%	8.16%	8.37%	-22.59%	0.75%	9.85%	19.11%	-16.74%	22.14%
REAYX Russell Investments Equity Income Fund	10.99%	14.66%	11.90%	12.50%	-8.86%	27.01%	9.06%	29.57%	-8.60%	13.19%

Correlation

The correlation between REMSX and REAYX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.41
Correlation (3Y) Calculated over the trailing 3-year period	0.47
Correlation (5Y) Calculated over the trailing 5-year period	0.55
Correlation (All Time) Calculated using the full available price history since Mar 2, 2017	0.61

The correlation between REMSX and REAYX shifts across timeframes, from 0.41 (1 year) to 0.61 (all time), reflecting how their relationship changes across market environments.

Return for Risk

REMSX vs. REAYX — Risk / Return Rank

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

REMSX

REMSX Risk / Return Rank: 89
REMSX Sharpe Ratio Rank: 95
REMSX Sortino Ratio Rank: 88
REMSX Omega Ratio Rank: 87
REMSX Calmar Ratio Rank: 87
REMSX Martin Ratio Rank: 88

REAYX

REAYX Risk / Return Rank: 68
REAYX Sharpe Ratio Rank: 63
REAYX Sortino Ratio Rank: 66
REAYX Omega Ratio Rank: 58
REAYX Calmar Ratio Rank: 79
REAYX Martin Ratio Rank: 72

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.

REMSX vs. REAYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Russell Investments Emerging Markets Fund (REMSX) and Russell Investments Equity Income Fund (REAYX). 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.

	REMSX	REAYX	Difference
Sharpe ratio: Return per unit of total volatility	3.35	2.29	+1.06
Sortino ratio: Return per unit of downside risk	4.25	3.33	+0.91
Omega ratio: Gain probability vs. loss probability	1.61	1.41	+0.20
Calmar ratio: Return relative to maximum drawdown	4.15	3.49	+0.66
Martin ratio: Return relative to average drawdown	16.39	13.41	+2.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

REMSX vs. REAYX - Sharpe Ratio Comparison

The current REMSX Sharpe Ratio is 3.35, which is higher than the REAYX Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of REMSX and REAYX, 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

	REMSX	REAYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.35	2.29	+1.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.56	-0.11
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.61	-0.33

Drawdowns

REMSX vs. REAYX - Drawdown Comparison

The maximum REMSX drawdown since its inception was -66.80%, which is greater than REAYX's maximum drawdown of -36.87%. Use the drawdown chart below to compare losses from any high point for REMSX and REAYX.

Drawdown Indicators

	REMSX	REAYX	Difference
Max Drawdown Largest peak-to-trough decline	-66.80%	-36.87%	-29.93%
Max Drawdown (1Y) Largest decline over 1 year	-13.87%	-6.66%	-7.21%
Max Drawdown (3Y) Largest decline over 3 years	-16.56%	-20.66%	+4.10%
Max Drawdown (5Y) Largest decline over 5 years	-37.33%	-20.66%	-16.67%
Max Drawdown (10Y) Largest decline over 10 years	-41.09%	—	—
Current Drawdown Current decline from peak	-0.99%	-0.28%	-0.71%
Average Drawdown Average peak-to-trough decline	-19.34%	-4.93%	-14.41%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.51%	1.73%	+1.78%

Volatility

REMSX vs. REAYX - Volatility Comparison

Russell Investments Emerging Markets Fund (REMSX) has a higher volatility of 7.39% compared to Russell Investments Equity Income Fund (REAYX) at 2.66%. This indicates that REMSX's price experiences larger fluctuations and is considered to be riskier than REAYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	REMSX	REAYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.39%	2.66%	+4.73%
Volatility (6M) Calculated over the trailing 6-month period	14.70%	7.48%	+7.22%
Volatility (1Y) Calculated over the trailing 1-year period	17.19%	10.16%	+7.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.52%	16.75%	-0.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.34%	18.55%	-1.21%

REMSX vs. REAYX - Expense Ratio Comparison

REMSX has a 1.19% expense ratio, which is higher than REAYX's 0.66% expense ratio.

Dividends

REMSX vs. REAYX - Dividend Comparison

REMSX's dividend yield for the trailing twelve months is around 1.52%, less than REAYX's 13.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
REAYX Russell Investments Equity Income Fund	13.54%	15.24%	15.38%	13.55%	19.72%	10.47%	3.61%	1.86%	45.26%	14.47%	0.00%	0.00%
REMSX Russell Investments Emerging Markets Fund	1.52%	1.97%	2.58%	2.42%	2.17%	14.04%	0.59%	2.51%	4.57%	1.10%	1.08%	0.13%

Frequently Asked Questions

Can I hold both REMSX and REAYX in my portfolio?

REMSX and REAYX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, REMSX or REAYX?

REMSX has higher volatility (7.39%) compared to REAYX (2.66%). In terms of maximum drawdown, REMSX dropped -66.80% vs REAYX's -36.87%.

Which has better risk-adjusted returns?

REMSX currently has the higher Sharpe Ratio (3.35 vs 2.29), 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.