RLVSX vs. RFAYX
Compare and contrast key facts about Russell Investments Tax-Exempt Bond Fund (RLVSX) and Russell Investments Investment Grade Bond Fund (RFAYX).
RLVSX is managed by Russell. It was launched on Sep 4, 1985. RFAYX is managed by Russell. It was launched on Mar 29, 2000.
Performance
RLVSX vs. RFAYX - Performance Comparison
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RLVSX vs. RFAYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RLVSX Russell Investments Tax-Exempt Bond Fund | -0.09% | 4.26% | 1.76% | 6.11% | -7.58% | 2.03% | 4.05% | 7.38% | 1.45% | 4.69% |
RFAYX Russell Investments Investment Grade Bond Fund | -0.40% | 7.47% | 1.57% | 4.85% | -14.80% | -1.09% | 9.10% | 9.03% | -0.56% | 3.57% |
Returns By Period
In the year-to-date period, RLVSX achieves a -0.09% return, which is significantly higher than RFAYX's -0.40% return. Over the past 10 years, RLVSX has outperformed RFAYX with an annualized return of 2.17%, while RFAYX has yielded a comparatively lower 1.62% annualized return.
RLVSX
- 1D
- 0.14%
- 1M
- -2.03%
- YTD
- -0.09%
- 6M
- 1.26%
- 1Y
- 3.85%
- 3Y*
- 3.24%
- 5Y*
- 1.17%
- 10Y*
- 2.17%
RFAYX
- 1D
- 0.44%
- 1M
- -2.12%
- YTD
- -0.40%
- 6M
- 0.60%
- 1Y
- 4.09%
- 3Y*
- 3.35%
- 5Y*
- -0.15%
- 10Y*
- 1.62%
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RLVSX vs. RFAYX - Expense Ratio Comparison
RLVSX has a 0.53% expense ratio, which is higher than RFAYX's 0.32% expense ratio.
Return for Risk
RLVSX vs. RFAYX — Risk / Return Rank
RLVSX
RFAYX
RLVSX vs. RFAYX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Russell Investments Tax-Exempt Bond Fund (RLVSX) 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.
| RLVSX | RFAYX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.96 | 1.04 | -0.07 |
Sortino ratioReturn per unit of downside risk | 1.27 | 1.49 | -0.22 |
Omega ratioGain probability vs. loss probability | 1.36 | 1.18 | +0.17 |
Calmar ratioReturn relative to maximum drawdown | 1.02 | 1.74 | -0.72 |
Martin ratioReturn relative to average drawdown | 4.00 | 5.27 | -1.26 |
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
| RLVSX | RFAYX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.96 | 1.04 | -0.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.38 | -0.03 | +0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | 0.33 | +0.32 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.95 | 0.75 | +0.20 |
Correlation
The correlation between RLVSX and RFAYX 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
RLVSX vs. RFAYX - Dividend Comparison
RLVSX's dividend yield for the trailing twelve months is around 3.55%, less than RFAYX's 5.35% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RLVSX Russell Investments Tax-Exempt Bond Fund | 3.55% | 3.18% | 3.57% | 3.20% | 2.73% | 2.06% | 2.58% | 3.08% | 2.89% | 2.65% | 2.64% | 2.80% |
RFAYX Russell Investments Investment Grade Bond Fund | 5.35% | 5.19% | 4.74% | 3.71% | 1.25% | 2.50% | 5.27% | 3.46% | 2.67% | 1.57% | 5.45% | 4.09% |
Drawdowns
RLVSX vs. RFAYX - Drawdown Comparison
The maximum RLVSX drawdown since its inception was -11.77%, smaller than the maximum RFAYX drawdown of -19.61%. Use the drawdown chart below to compare losses from any high point for RLVSX and RFAYX.
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Drawdown Indicators
| RLVSX | RFAYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.77% | -19.61% | +7.84% |
Max Drawdown (1Y)Largest decline over 1 year | -4.11% | -2.82% | -1.29% |
Max Drawdown (5Y)Largest decline over 5 years | -11.77% | -19.61% | +7.84% |
Max Drawdown (10Y)Largest decline over 10 years | -11.77% | -19.61% | +7.84% |
Current DrawdownCurrent decline from peak | -2.03% | -4.74% | +2.71% |
Average DrawdownAverage peak-to-trough decline | -1.53% | -2.97% | +1.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 0.93% | +0.12% |
Volatility
RLVSX vs. RFAYX - Volatility Comparison
The current volatility for Russell Investments Tax-Exempt Bond Fund (RLVSX) is 0.75%, while Russell Investments Investment Grade Bond Fund (RFAYX) has a volatility of 1.43%. This indicates that RLVSX 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.
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Volatility by Period
| RLVSX | RFAYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 1.43% | -0.68% |
Volatility (6M)Calculated over the trailing 6-month period | 1.10% | 2.36% | -1.26% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.27% | 4.13% | +0.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.08% | 5.88% | -2.80% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.32% | 4.89% | -1.57% |