RMLVX vs. RFAYX

Last updated Jun 5, 2026

RMLVX (Russell Investments LifePoints Moderate Strategy Fund) and RFAYX (Russell Investments Investment Grade Bond Fund) are both mutual funds - RMLVX is a Diversified Portfolio fund managed by Russell, while RFAYX is a Intermediate Core Bond fund managed by Russell. Over the past 10 years, RMLVX returned 4.28%/yr vs 1.57%/yr for RFAYX. At a 0.15 correlation, their price movements are largely independent. RMLVX charges 0.74%/yr vs 0.32%/yr for RFAYX.

Performance

RMLVX vs. RFAYX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Russell Investments LifePoints Moderate Strategy Fund (RMLVX) and Russell Investments Investment Grade Bond Fund (RFAYX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RMLVX achieves a 4.50% return, which is significantly higher than RFAYX's 0.16% return. Over the past 10 years, RMLVX has outperformed RFAYX with an annualized return of 4.28%, while RFAYX has yielded a comparatively lower 1.57% annualized return.

RMLVX

• 1D: -0.47%
• 1M: 1.14%
• YTD: 4.50%
• 6M: 4.79%
• 1Y: 12.88%
• 3Y*: 9.43%
• 5Y*: 3.44%
• 10Y*: 4.28%

RFAYX

• 1D: -0.22%
• 1M: 0.07%
• YTD: 0.16%
• 6M: 0.28%
• 1Y: 4.56%
• 3Y*: 3.89%
• 5Y*: -0.39%
• 10Y*: 1.57%

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

RMLVX vs. RFAYX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RMLVX Russell Investments LifePoints Moderate Strategy Fund	4.50%	11.85%	6.00%	10.66%	-15.32%	8.08%	3.06%	10.54%	-4.74%	8.24%
RFAYX Russell Investments Investment Grade Bond Fund	0.16%	7.47%	1.57%	4.85%	-14.80%	-1.09%	9.10%	9.03%	-0.56%	3.57%

Correlation

The correlation between RMLVX and RFAYX is 0.62, 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	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (10Y) Calculated over the trailing 10-year period	0.32
Correlation (All Time) Calculated using the full available price history since Jan 3, 2001	0.15

Over the past year, RMLVX and RFAYX have become more correlated (0.62) than their long-term average of 0.15, meaning their price movements have been converging.

Return for Risk

RMLVX vs. RFAYX — Risk / Return Rank

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

RMLVX

RMLVX Risk / Return Rank: 61
RMLVX Sharpe Ratio Rank: 64
RMLVX Sortino Ratio Rank: 68
RMLVX Omega Ratio Rank: 68
RMLVX Calmar Ratio Rank: 47
RMLVX Martin Ratio Rank: 59

RFAYX

RFAYX Risk / Return Rank: 26
RFAYX Sharpe Ratio Rank: 26
RFAYX Sortino Ratio Rank: 29
RFAYX Omega Ratio Rank: 25
RFAYX Calmar Ratio Rank: 28
RFAYX Martin Ratio Rank: 24

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.

RMLVX vs. RFAYX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Russell Investments LifePoints Moderate Strategy Fund (RMLVX) 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.

	RMLVX	RFAYX	Difference
Sharpe ratio: Return per unit of total volatility	2.30	1.43	+0.87
Sortino ratio: Return per unit of downside risk	3.34	2.16	+1.18
Omega ratio: Gain probability vs. loss probability	1.44	1.25	+0.19
Calmar ratio: Return relative to maximum drawdown	2.54	1.91	+0.63
Martin ratio: Return relative to average drawdown	11.23	5.69	+5.53
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RMLVX vs. RFAYX - Sharpe Ratio Comparison

The current RMLVX Sharpe Ratio is 2.30, which is higher than the RFAYX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of RMLVX and RFAYX, 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

	RMLVX	RFAYX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.30	1.43	+0.87
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.43	-0.07	+0.50
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.32	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.75	-0.46

Drawdowns

RMLVX vs. RFAYX - Drawdown Comparison

The maximum RMLVX drawdown since its inception was -40.56%, which is greater than RFAYX's maximum drawdown of -19.61%. Use the drawdown chart below to compare losses from any high point for RMLVX and RFAYX.

Drawdown Indicators

	RMLVX	RFAYX	Difference
Max Drawdown Largest peak-to-trough decline	-40.56%	-19.61%	-20.95%
Max Drawdown (1Y) Largest decline over 1 year	-5.28%	-2.73%	-2.55%
Max Drawdown (3Y) Largest decline over 3 years	-7.63%	-6.32%	-1.31%
Max Drawdown (5Y) Largest decline over 5 years	-20.83%	-19.61%	-1.22%
Max Drawdown (10Y) Largest decline over 10 years	-20.83%	-19.61%	-1.22%
Current Drawdown Current decline from peak	-0.47%	-4.21%	+3.74%
Average Drawdown Average peak-to-trough decline	-6.13%	-2.98%	-3.15%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.19%	0.91%	+0.28%

Volatility

RMLVX vs. RFAYX - Volatility Comparison

Russell Investments LifePoints Moderate Strategy Fund (RMLVX) has a higher volatility of 2.07% compared to Russell Investments Investment Grade Bond Fund (RFAYX) at 1.26%. This indicates that RMLVX's price experiences larger fluctuations and is considered to be riskier than RFAYX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RMLVX	RFAYX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.07%	1.26%	+0.81%
Volatility (6M) Calculated over the trailing 6-month period	4.74%	2.52%	+2.22%
Volatility (1Y) Calculated over the trailing 1-year period	5.84%	3.65%	+2.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.98%	5.90%	+2.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	7.73%	4.90%	+2.83%

RMLVX vs. RFAYX - Expense Ratio Comparison

RMLVX has a 0.74% expense ratio, which is higher than RFAYX's 0.32% expense ratio.

Dividends

RMLVX vs. RFAYX - Dividend Comparison

RMLVX's dividend yield for the trailing twelve months is around 3.02%, less than RFAYX's 5.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RFAYX Russell Investments Investment Grade Bond Fund	5.44%	5.19%	4.74%	3.71%	1.25%	2.50%	5.27%	3.46%	2.67%	1.57%	5.45%	4.09%
RMLVX Russell Investments LifePoints Moderate Strategy Fund	3.02%	3.10%	1.75%	1.24%	3.84%	10.02%	1.07%	3.80%	4.46%	3.06%	8.20%	14.07%

Frequently Asked Questions

Can I hold both RMLVX and RFAYX in my portfolio?

RMLVX and RFAYX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RMLVX or RFAYX?

RMLVX has higher volatility (2.07%) compared to RFAYX (1.26%). In terms of maximum drawdown, RMLVX dropped -40.56% vs RFAYX's -19.61%.

Which has better risk-adjusted returns?

RMLVX currently has the higher Sharpe Ratio (2.30 vs 1.43), 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.