RTHAX vs. HIMFX
RTHAX (Russell Investments Tax-Exempt High Yield Bond Fund) and HIMFX (American High-Income Municipal Bond Fund Class F-3) are both High Yield Muni funds. Over the past 5 years, RTHAX returned 0.14%/yr vs 1.24%/yr for HIMFX. Their 0.80 correlation means they have sometimes moved together and sometimes differently. RTHAX charges 0.89%/yr vs 0.31%/yr for HIMFX.
Performance
RTHAX vs. HIMFX - Performance Comparison
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Returns By Period
In the year-to-date period, RTHAX achieves a 1.73% return, which is significantly higher than HIMFX's 1.32% return.
RTHAX
- 1D
- 0.00%
- 1M
- -1.74%
- 6M
- 0.84%
- YTD
- 1.73%
- 1Y
- 6.16%
- 3Y*
- 4.28%
- 5Y*
- 0.14%
- 10Y*
- 2.62%
- ALL TIME*
- 3.13%
HIMFX
- 1D
- 0.00%
- 1M
- -2.06%
- 6M
- 0.65%
- YTD
- 1.32%
- 1Y
- 6.50%
- 3Y*
- 5.65%
- 5Y*
- 1.24%
- 10Y*
- —
- ALL TIME*
- 3.73%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
RTHAX vs. HIMFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RTHAX Russell Investments Tax-Exempt High Yield Bond Fund | 1.73% | 2.11% | 4.49% | 7.78% | -13.62% | 5.54% | 3.84% | 10.18% | 3.20% | 7.33% |
HIMFX American High-Income Municipal Bond Fund Class F-3 | 1.32% | 4.69% | 6.23% | 7.89% | -12.36% | 5.60% | 4.74% | 8.92% | 1.91% | 8.22% |
Correlation
The correlation between RTHAX and HIMFX is 0.71, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.71 |
Correlation (3Y) Balances recent behavior with more history. | 0.81 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.86 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017 | 0.80 |
The correlation between RTHAX and HIMFX shifts across timeframes, from 0.71 (1 year) to 0.86 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
RTHAX vs. HIMFX — Risk / Return Rank
RTHAX
HIMFX
RTHAX vs. HIMFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Russell Investments Tax-Exempt High Yield Bond Fund (RTHAX) and American High-Income Municipal Bond Fund Class F-3 (HIMFX). 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.
| RTHAX | HIMFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.03 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.56 | 1.50 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | 2.27 | 2.39 | -0.12 |
| Martin ratioReturn relative to average drawdown | 8.77 | 8.17 | +0.60 |
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Drawdowns
RTHAX vs. HIMFX - Drawdown Comparison
The maximum RTHAX drawdown since its inception was -18.89%, which is greater than HIMFX's maximum drawdown of -17.57%. Use the drawdown chart below to compare losses from any high point for RTHAX and HIMFX.
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Drawdown Indicators
| RTHAX | HIMFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.89% | -17.57% | -1.32% |
Max Drawdown (1Y)Largest decline over 1 year | -2.74% | -2.76% | +0.02% |
Max Drawdown (3Y)Largest decline over 3 years | -7.07% | -6.14% | -0.93% |
Max Drawdown (5Y)Largest decline over 5 years | -18.80% | -17.48% | -1.32% |
Max Drawdown (10Y)Largest decline over 10 years | -18.89% | — | — |
Current DrawdownCurrent decline from peak | -1.74% | -2.06% | +0.32% |
Average DrawdownAverage peak-to-trough decline | -3.68% | -3.12% | -0.56% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.71% | 0.81% | -0.10% |
Volatility
RTHAX vs. HIMFX - Volatility Comparison
Russell Investments Tax-Exempt High Yield Bond Fund (RTHAX) has a higher volatility of 1.03% compared to American High-Income Municipal Bond Fund Class F-3 (HIMFX) at 0.91%. This indicates that RTHAX's price experiences larger fluctuations and is considered to be riskier than HIMFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RTHAX | HIMFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 0.91% | +0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.29% | 2.36% | -0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.81% | 3.01% | -0.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.14% | 4.85% | +0.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.99% | 4.57% | +0.42% |
RTHAX vs. HIMFX - Expense Ratio Comparison
RTHAX has a 0.89% expense ratio, which is higher than HIMFX's 0.31% expense ratio.
Dividends
RTHAX vs. HIMFX - Dividend Comparison
RTHAX's dividend yield for the trailing twelve months is around 3.90%, which matches HIMFX's 3.92% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
HIMFX American High-Income Municipal Bond Fund Class F-3 | 3.92% | 4.32% | 3.83% | 3.71% | 2.80% | 3.54% | 3.73% | 3.49% | 3.99% | 3.61% | 0.00% |
RTHAX Russell Investments Tax-Exempt High Yield Bond Fund | 3.90% | 3.60% | 4.02% | 3.97% | 3.64% | 2.80% | 3.10% | 3.83% | 3.86% | 3.44% | 4.06% |
Frequently Asked Questions
RTHAX and HIMFX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RTHAX has higher volatility (1.03%) compared to HIMFX (0.91%). In terms of maximum drawdown, RTHAX dropped -18.89% vs HIMFX's -17.57%.
RTHAX currently has the higher Sharpe Ratio (2.22 vs 2.19), 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.
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