RLVSX vs. RFCYX
RLVSX (Russell Investments Tax-Exempt Bond Fund) and RFCYX (Russell Investments Strategic Bond Fund) are both mutual funds - RLVSX is a Municipal Bonds fund managed by Russell, while RFCYX is a Intermediate Core-Plus Bond fund managed by Russell. Over the past 10 years, RLVSX returned 2.17%/yr vs 1.62%/yr for RFCYX. At a 0.48 correlation, their price movements are largely independent. RLVSX charges 0.53%/yr vs 0.45%/yr for RFCYX.
Performance
RLVSX vs. RFCYX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, RLVSX achieves a 1.86% return, which is significantly higher than RFCYX's 0.21% return. Over the past 10 years, RLVSX has outperformed RFCYX with an annualized return of 2.17%, while RFCYX has yielded a comparatively lower 1.62% annualized return.
RLVSX
- 1D
- 0.00%
- 1M
- 1.30%
- YTD
- 1.86%
- 6M
- 2.00%
- 1Y
- 5.95%
- 3Y*
- 3.77%
- 5Y*
- 1.26%
- 10Y*
- 2.17%
RFCYX
- 1D
- -0.22%
- 1M
- 0.69%
- YTD
- 0.21%
- 6M
- 0.32%
- 1Y
- 4.23%
- 3Y*
- 3.86%
- 5Y*
- -0.35%
- 10Y*
- 1.62%
RLVSX vs. RFCYX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RLVSX Russell Investments Tax-Exempt Bond Fund | 1.86% | 4.26% | 1.76% | 6.11% | -7.58% | 2.03% | 4.05% | 7.38% | 1.45% | 4.69% |
RFCYX Russell Investments Strategic Bond Fund | 0.21% | 7.55% | 1.11% | 4.92% | -14.07% | -1.55% | 8.98% | 9.57% | -0.54% | 4.04% |
Correlation
The correlation between RLVSX and RFCYX is 0.54, 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 | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.56 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.44 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jun 22, 2005 | 0.48 |
The correlation between RLVSX and RFCYX shifts across timeframes, from 0.42 (10 years) to 0.56 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
RLVSX vs. RFCYX — Risk / Return Rank
RLVSX
RFCYX
RLVSX vs. RFCYX - 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 Strategic Bond Fund (RFCYX). 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.
| RLVSX | RFCYX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.24 | ||
| Sortino ratioReturn per unit of downside risk | +3.34 | ||
| Omega ratioGain probability vs. loss probability | 1.96 | 1.21 | +0.75 |
| Calmar ratioReturn relative to maximum drawdown | 2.80 | 1.53 | +1.27 |
| Martin ratioReturn relative to average drawdown | 9.89 | 4.21 | +5.68 |
Loading charts...
Drawdowns
RLVSX vs. RFCYX - Drawdown Comparison
The maximum RLVSX drawdown since its inception was -11.77%, smaller than the maximum RFCYX drawdown of -19.34%. Use the drawdown chart below to compare losses from any high point for RLVSX and RFCYX.
Loading charts...
Drawdown Indicators
| RLVSX | RFCYX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.77% | -19.34% | +7.57% |
Max Drawdown (1Y)Largest decline over 1 year | -2.17% | -2.92% | +0.75% |
Max Drawdown (3Y)Largest decline over 3 years | -4.22% | -6.33% | +2.11% |
Max Drawdown (5Y)Largest decline over 5 years | -11.77% | -19.34% | +7.57% |
Max Drawdown (10Y)Largest decline over 10 years | -11.77% | -19.34% | +7.57% |
Current DrawdownCurrent decline from peak | -0.13% | -3.70% | +3.57% |
Average DrawdownAverage peak-to-trough decline | -1.53% | -3.38% | +1.85% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 1.06% | -0.45% |
Volatility
RLVSX vs. RFCYX - Volatility Comparison
The current volatility for Russell Investments Tax-Exempt Bond Fund (RLVSX) is 0.49%, while Russell Investments Strategic Bond Fund (RFCYX) has a volatility of 1.08%. This indicates that RLVSX experiences smaller price fluctuations and is considered to be less risky than RFCYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| RLVSX | RFCYX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.49% | 1.08% | -0.59% |
Volatility (6M)Calculated over the trailing 6-month period | 1.39% | 2.78% | -1.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.78% | 3.79% | -2.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.10% | 5.97% | -2.87% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.33% | 5.01% | -1.68% |
RLVSX vs. RFCYX - Expense Ratio Comparison
RLVSX has a 0.53% expense ratio, which is higher than RFCYX's 0.45% expense ratio.
Dividends
RLVSX vs. RFCYX - Dividend Comparison
RLVSX's dividend yield for the trailing twelve months is around 3.51%, less than RFCYX's 5.24% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
RFCYX Russell Investments Strategic Bond Fund | 5.24% | 5.18% | 4.89% | 2.77% | 2.77% | 2.13% | 7.15% | 3.70% | 2.41% | 1.29% | 4.92% | 4.06% |
RLVSX Russell Investments Tax-Exempt Bond Fund | 3.51% | 3.18% | 3.57% | 3.20% | 2.73% | 2.06% | 2.58% | 3.08% | 2.89% | 2.65% | 2.64% | 2.80% |
Frequently Asked Questions
RLVSX and RFCYX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RFCYX has higher volatility (1.08%) compared to RLVSX (0.49%). In terms of maximum drawdown, RLVSX dropped -11.77% vs RFCYX's -19.34%.
RLVSX currently has the higher Sharpe Ratio (3.43 vs 1.18), 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.
Find the right allocation for RLVSX and RFCYX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer