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RLVSX vs. RFCYX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

Performance

RLVSX vs. RFCYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Russell Investments Tax-Exempt Bond Fund (RLVSX) and Russell Investments Strategic Bond Fund (RFCYX). The values are adjusted to include any dividend payments, if applicable.

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

RLVSX vs. RFCYX - Yearly Performance Comparison


2026 (YTD)202520242023202220212020201920182017
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.

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Return for Risk

RLVSX vs. RFCYX — Risk / Return Rank

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

RLVSX
RLVSX Risk / Return Rank: 8080
Overall Rank
RLVSX Sharpe Ratio Rank: 9797
Sharpe Ratio Rank
RLVSX Sortino Ratio Rank: 9696
Sortino Ratio Rank
RLVSX Omega Ratio Rank: 9797
Omega Ratio Rank
RLVSX Calmar Ratio Rank: 5858
Calmar Ratio Rank
RLVSX Martin Ratio Rank: 5151
Martin Ratio Rank

RFCYX
RFCYX Risk / Return Rank: 2020
Overall Rank
RFCYX Sharpe Ratio Rank: 2020
Sharpe Ratio Rank
RFCYX Sortino Ratio Rank: 2121
Sortino Ratio Rank
RFCYX Omega Ratio Rank: 1919
Omega Ratio Rank
RFCYX Calmar Ratio Rank: 2121
Calmar Ratio Rank
RFCYX Martin Ratio Rank: 1717
Martin Ratio Rank
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.

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.


RLVSXRFCYXDifference
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

RLVSX vs. RFCYX - Sharpe Ratio Comparison

The current RLVSX Sharpe Ratio is 3.43, which is higher than the RFCYX Sharpe Ratio of 1.18. The chart below compares the historical Sharpe Ratios of RLVSX and RFCYX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.


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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.


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Drawdown Indicators


RLVSXRFCYXDifference

Max Drawdown

Largest 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 Drawdown

Current decline from peak

-0.13%

-3.70%

+3.57%

Average Drawdown

Average peak-to-trough decline

-1.53%

-3.38%

+1.85%

Ulcer Index

Depth 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.


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Volatility by Period


RLVSXRFCYXDifference

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.


PositionTTM20252024202320222021202020192018201720162015
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.

Portfolio Optimizer

Find the right allocation for RLVSX and RFCYX

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