RGCYX vs. ICMUX
RGCYX (Russell Investments Opportunistic Credit Fund) and ICMUX (Intrepid Income Fund) are both Multisector Bonds funds. Over the past 10 years, RGCYX returned 4.46%/yr vs 5.82%/yr for ICMUX. At a 0.45 correlation, their price movements are largely independent. RGCYX charges 0.71%/yr vs 0.91%/yr for ICMUX.
Performance
RGCYX vs. ICMUX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with RGCYX having a 2.17% return and ICMUX slightly higher at 2.20%. Over the past 10 years, RGCYX has underperformed ICMUX with an annualized return of 4.46%, while ICMUX has yielded a comparatively higher 5.82% annualized return.
RGCYX
- 1D
- -0.12%
- 1M
- 0.89%
- YTD
- 2.17%
- 6M
- 2.29%
- 1Y
- 7.00%
- 3Y*
- 8.52%
- 5Y*
- 3.29%
- 10Y*
- 4.46%
ICMUX
- 1D
- -0.11%
- 1M
- 0.14%
- YTD
- 2.20%
- 6M
- 2.58%
- 1Y
- 7.55%
- 3Y*
- 9.54%
- 5Y*
- 6.20%
- 10Y*
- 5.82%
RGCYX vs. ICMUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RGCYX Russell Investments Opportunistic Credit Fund | 2.17% | 8.69% | 7.34% | 11.22% | -11.40% | 2.71% | 3.73% | 11.98% | -3.22% | 9.84% |
ICMUX Intrepid Income Fund | 2.20% | 8.16% | 10.43% | 10.90% | -3.17% | 10.02% | 8.77% | 4.65% | 0.53% | 3.79% |
Correlation
The correlation between RGCYX and ICMUX 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 | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.56 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.47 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2011 | 0.45 |
The correlation between RGCYX and ICMUX shifts across timeframes, from 0.45 (all time) to 0.63 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
RGCYX vs. ICMUX — Risk / Return Rank
RGCYX
ICMUX
RGCYX vs. ICMUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Russell Investments Opportunistic Credit Fund (RGCYX) and Intrepid Income Fund (ICMUX). 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.
| RGCYX | ICMUX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.74 | ||
| Sortino ratioReturn per unit of downside risk | -1.51 | ||
| Omega ratioGain probability vs. loss probability | 1.70 | 1.98 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 3.54 | 5.65 | -2.12 |
| Martin ratioReturn relative to average drawdown | 15.19 | 19.71 | -4.52 |
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Drawdowns
RGCYX vs. ICMUX - Drawdown Comparison
The maximum RGCYX drawdown since its inception was -19.48%, which is greater than ICMUX's maximum drawdown of -8.77%. Use the drawdown chart below to compare losses from any high point for RGCYX and ICMUX.
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Drawdown Indicators
| RGCYX | ICMUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.48% | -8.77% | -10.71% |
Max Drawdown (1Y)Largest decline over 1 year | -2.02% | -1.34% | -0.68% |
Max Drawdown (3Y)Largest decline over 3 years | -2.75% | -3.11% | +0.36% |
Max Drawdown (5Y)Largest decline over 5 years | -16.72% | -5.64% | -11.08% |
Max Drawdown (10Y)Largest decline over 10 years | -19.48% | -8.77% | -10.71% |
Current DrawdownCurrent decline from peak | -0.12% | -0.22% | +0.10% |
Average DrawdownAverage peak-to-trough decline | -2.81% | -0.74% | -2.07% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.47% | 0.38% | +0.09% |
Volatility
RGCYX vs. ICMUX - Volatility Comparison
Russell Investments Opportunistic Credit Fund (RGCYX) has a higher volatility of 0.59% compared to Intrepid Income Fund (ICMUX) at 0.53%. This indicates that RGCYX's price experiences larger fluctuations and is considered to be riskier than ICMUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RGCYX | ICMUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.59% | 0.53% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 1.85% | 1.43% | +0.42% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.26% | 1.94% | +0.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.46% | 2.66% | +0.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.17% | 2.58% | +1.59% |
RGCYX vs. ICMUX - Expense Ratio Comparison
RGCYX has a 0.71% expense ratio, which is lower than ICMUX's 0.91% expense ratio.
Dividends
RGCYX vs. ICMUX - Dividend Comparison
RGCYX's dividend yield for the trailing twelve months is around 5.85%, less than ICMUX's 7.56% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ICMUX Intrepid Income Fund | 7.56% | 7.96% | 7.85% | 9.10% | 8.17% | 5.99% | 5.56% | 3.35% | 3.07% | 2.86% | 3.01% | 3.53% |
RGCYX Russell Investments Opportunistic Credit Fund | 5.85% | 5.77% | 5.35% | 4.83% | 4.78% | 4.60% | 3.85% | 6.91% | 5.89% | 4.53% | 4.61% | 4.21% |
Frequently Asked Questions
RGCYX and ICMUX 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.
RGCYX has higher volatility (0.59%) compared to ICMUX (0.53%). In terms of maximum drawdown, RGCYX dropped -19.48% vs ICMUX's -8.77%.
ICMUX currently has the higher Sharpe Ratio (3.92 vs 3.17), 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.
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