RMGSX vs. REAYX

Last updated Jun 5, 2026

RMGSX (Russell Investments Multi-Asset Growth Strategy Fund) and REAYX (Russell Investments Equity Income Fund) are both mutual funds - RMGSX is a Global Allocation fund managed by Russell, while REAYX is a Large Cap Value Equities fund managed by Russell. Over the past 5 years, RMGSX returned 5.94%/yr vs 9.40%/yr for REAYX. A 0.77 correlation means they provide meaningful diversification when combined. RMGSX charges 0.91%/yr vs 0.66%/yr for REAYX.

Performance

RMGSX vs. REAYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Russell Investments Multi-Asset Growth Strategy Fund (RMGSX) 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, RMGSX achieves a 7.70% return, which is significantly lower than REAYX's 10.99% return.

RMGSX

• 1D: -0.31%
• 1M: 1.44%
• YTD: 7.70%
• 6M: 8.40%
• 1Y: 18.57%
• 3Y*: 13.83%
• 5Y*: 5.94%
• 10Y*: —

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)

RMGSX vs. REAYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RMGSX Russell Investments Multi-Asset Growth Strategy Fund	7.70%	17.38%	8.76%	15.26%	-14.73%	7.88%	3.14%	9.22%	-4.92%	5.43%
REAYX Russell Investments Equity Income Fund	10.99%	14.66%	11.90%	12.50%	-8.86%	27.01%	9.06%	29.57%	-8.60%	15.02%

Correlation

The correlation between RMGSX and REAYX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.75
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (All Time) Calculated using the full available price history since Apr 5, 2017	0.77

The correlation between RMGSX and REAYX has been stable across timeframes, ranging from 0.74 to 0.81 - a consistent structural relationship.

Return for Risk

RMGSX vs. REAYX — Risk / Return Rank

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

RMGSX

RMGSX Risk / Return Rank: 72
RMGSX Sharpe Ratio Rank: 80
RMGSX Sortino Ratio Rank: 78
RMGSX Omega Ratio Rank: 77
RMGSX Calmar Ratio Rank: 58
RMGSX Martin Ratio Rank: 66

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.

RMGSX vs. REAYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Russell Investments Multi-Asset Growth Strategy Fund (RMGSX) 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.

	RMGSX	REAYX	Difference
Sharpe ratio: Return per unit of total volatility	2.57	2.29	+0.27
Sortino ratio: Return per unit of downside risk	3.66	3.33	+0.32
Omega ratio: Gain probability vs. loss probability	1.49	1.41	+0.08
Calmar ratio: Return relative to maximum drawdown	2.83	3.49	-0.66
Martin ratio: Return relative to average drawdown	12.34	13.41	-1.07
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RMGSX vs. REAYX - Sharpe Ratio Comparison

The current RMGSX Sharpe Ratio is 2.57, which is comparable to the REAYX Sharpe Ratio of 2.29. The chart below compares the historical Sharpe Ratios of RMGSX 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

	RMGSX	REAYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.57	2.29	+0.27
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.58	0.56	+0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	0.61	-0.07

Drawdowns

RMGSX vs. REAYX - Drawdown Comparison

The maximum RMGSX drawdown since its inception was -24.93%, smaller than the maximum REAYX drawdown of -36.87%. Use the drawdown chart below to compare losses from any high point for RMGSX and REAYX.

Drawdown Indicators

	RMGSX	REAYX	Difference
Max Drawdown Largest peak-to-trough decline	-24.93%	-36.87%	+11.94%
Max Drawdown (1Y) Largest decline over 1 year	-6.73%	-6.66%	-0.07%
Max Drawdown (3Y) Largest decline over 3 years	-8.85%	-20.66%	+11.81%
Max Drawdown (5Y) Largest decline over 5 years	-23.47%	-20.66%	-2.81%
Current Drawdown Current decline from peak	-0.31%	-0.28%	-0.03%
Average Drawdown Average peak-to-trough decline	-4.18%	-4.93%	+0.75%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.54%	1.73%	-0.19%

Volatility

RMGSX vs. REAYX - Volatility Comparison

The current volatility for Russell Investments Multi-Asset Growth Strategy Fund (RMGSX) is 2.21%, while Russell Investments Equity Income Fund (REAYX) has a volatility of 2.66%. This indicates that RMGSX experiences smaller price fluctuations and is considered to be less risky than REAYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RMGSX	REAYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.21%	2.66%	-0.45%
Volatility (6M) Calculated over the trailing 6-month period	5.93%	7.48%	-1.55%
Volatility (1Y) Calculated over the trailing 1-year period	7.43%	10.16%	-2.73%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.30%	16.75%	-6.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.27%	18.55%	-8.28%

RMGSX vs. REAYX - Expense Ratio Comparison

RMGSX has a 0.91% expense ratio, which is higher than REAYX's 0.66% expense ratio.

Dividends

RMGSX vs. REAYX - Dividend Comparison

RMGSX's dividend yield for the trailing twelve months is around 3.97%, less than REAYX's 13.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
RMGSX Russell Investments Multi-Asset Growth Strategy Fund	3.97%	4.32%	3.60%	3.48%	0.76%	6.27%	0.80%	3.35%	2.46%	1.33%

Frequently Asked Questions

Can I hold both RMGSX and REAYX in my portfolio?

RMGSX and REAYX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RMGSX or REAYX?

REAYX has higher volatility (2.66%) compared to RMGSX (2.21%). In terms of maximum drawdown, RMGSX dropped -24.93% vs REAYX's -36.87%.

Which has better risk-adjusted returns?

RMGSX currently has the higher Sharpe Ratio (2.57 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.