RTIYX vs. RLVSX

Last updated Jun 4, 2026

RTIYX (Russell Investments Multifactor International Equity Fund) and RLVSX (Russell Investments Tax-Exempt Bond Fund) are both mutual funds - RTIYX is a Foreign Large Cap Equities fund managed by Russell, while RLVSX is a Municipal Bonds fund managed by Russell. Over the past 10 years, RTIYX returned 8.71%/yr vs 2.25%/yr for RLVSX. At a 0.00 correlation, their price movements are largely independent. RTIYX charges 0.44%/yr vs 0.53%/yr for RLVSX.

Performance

RTIYX vs. RLVSX - Performance Comparison

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

Returns By Period

In the year-to-date period, RTIYX achieves a 9.11% return, which is significantly higher than RLVSX's 1.53% return. Over the past 10 years, RTIYX has outperformed RLVSX with an annualized return of 8.71%, while RLVSX has yielded a comparatively lower 2.25% annualized return.

RTIYX

• 1D: 0.51%
• 1M: 3.35%
• YTD: 9.11%
• 6M: 11.71%
• 1Y: 21.66%
• 3Y*: 17.14%
• 5Y*: 8.60%
• 10Y*: 8.71%

RLVSX

• 1D: 0.19%
• 1M: 0.61%
• YTD: 1.53%
• 6M: 1.83%
• 1Y: 6.16%
• 3Y*: 3.85%
• 5Y*: 1.24%
• 10Y*: 2.25%

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

RTIYX vs. RLVSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RTIYX Russell Investments Multifactor International Equity Fund	9.11%	31.04%	4.69%	16.46%	-13.13%	14.05%	2.64%	20.19%	-14.91%	25.14%
RLVSX Russell Investments Tax-Exempt Bond Fund	1.53%	4.26%	1.76%	6.11%	-7.58%	2.03%	4.05%	7.38%	1.45%	4.69%

Correlation

The correlation between RTIYX and RLVSX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.30
Correlation (3Y) Calculated over the trailing 3-year period	0.22
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (10Y) Calculated over the trailing 10-year period	0.05
Correlation (All Time) Calculated using the full available price history since Jan 5, 2015	0.00

Over the past year, RTIYX and RLVSX have become more correlated (0.30) than their long-term average of 0.00, meaning their price movements have been converging.

Return for Risk

RTIYX vs. RLVSX — Risk / Return Rank

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

RTIYX

RTIYX Risk / Return Rank: 29
RTIYX Sharpe Ratio Rank: 29
RTIYX Sortino Ratio Rank: 28
RTIYX Omega Ratio Rank: 28
RTIYX Calmar Ratio Rank: 29
RTIYX Martin Ratio Rank: 34

RLVSX

RLVSX Risk / Return Rank: 78
RLVSX Sharpe Ratio Rank: 96
RLVSX Sortino Ratio Rank: 95
RLVSX Omega Ratio Rank: 97
RLVSX Calmar Ratio Rank: 55
RLVSX Martin Ratio Rank: 48

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.

RTIYX vs. RLVSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Russell Investments Multifactor International Equity Fund (RTIYX) and Russell Investments Tax-Exempt Bond Fund (RLVSX). 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.

	RTIYX	RLVSX	Difference
Sharpe ratio: Return per unit of total volatility	1.55	3.47	-1.92
Sortino ratio: Return per unit of downside risk	2.22	5.18	-2.97
Omega ratio: Gain probability vs. loss probability	1.28	1.99	-0.71
Calmar ratio: Return relative to maximum drawdown	2.01	2.83	-0.82
Martin ratio: Return relative to average drawdown	7.55	10.07	-2.52
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RTIYX vs. RLVSX - Sharpe Ratio Comparison

The current RTIYX Sharpe Ratio is 1.55, which is lower than the RLVSX Sharpe Ratio of 3.47. The chart below compares the historical Sharpe Ratios of RTIYX and RLVSX, 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

	RTIYX	RLVSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.55	3.47	-1.92
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.40	+0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.53	0.68	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.97	-0.52

Drawdowns

RTIYX vs. RLVSX - Drawdown Comparison

The maximum RTIYX drawdown since its inception was -38.06%, which is greater than RLVSX's maximum drawdown of -11.77%. Use the drawdown chart below to compare losses from any high point for RTIYX and RLVSX.

Drawdown Indicators

	RTIYX	RLVSX	Difference
Max Drawdown Largest peak-to-trough decline	-38.06%	-11.77%	-26.29%
Max Drawdown (1Y) Largest decline over 1 year	-10.42%	-2.17%	-8.25%
Max Drawdown (3Y) Largest decline over 3 years	-12.67%	-4.22%	-8.45%
Max Drawdown (5Y) Largest decline over 5 years	-28.03%	-11.77%	-16.26%
Max Drawdown (10Y) Largest decline over 10 years	-38.06%	-11.77%	-26.29%
Current Drawdown Current decline from peak	-0.86%	-0.44%	-0.42%
Average Drawdown Average peak-to-trough decline	-7.86%	-1.53%	-6.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.77%	0.61%	+2.16%

Volatility

RTIYX vs. RLVSX - Volatility Comparison

Russell Investments Multifactor International Equity Fund (RTIYX) has a higher volatility of 4.37% compared to Russell Investments Tax-Exempt Bond Fund (RLVSX) at 0.70%. This indicates that RTIYX's price experiences larger fluctuations and is considered to be riskier than RLVSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RTIYX	RLVSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.37%	0.70%	+3.67%
Volatility (6M) Calculated over the trailing 6-month period	11.19%	1.38%	+9.81%
Volatility (1Y) Calculated over the trailing 1-year period	13.53%	1.77%	+11.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.68%	3.10%	+12.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.36%	3.33%	+13.03%

RTIYX vs. RLVSX - Expense Ratio Comparison

RTIYX has a 0.44% expense ratio, which is lower than RLVSX's 0.53% expense ratio.

Dividends

RTIYX vs. RLVSX - Dividend Comparison

RTIYX's dividend yield for the trailing twelve months is around 2.01%, less than RLVSX's 3.52% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RLVSX Russell Investments Tax-Exempt Bond Fund	3.52%	3.18%	3.57%	3.20%	2.73%	2.06%	2.58%	3.08%	2.89%	2.65%	2.64%	2.80%
RTIYX Russell Investments Multifactor International Equity Fund	2.01%	2.19%	5.35%	3.42%	2.25%	6.39%	2.11%	5.46%	3.50%	2.64%	2.39%	2.94%

Frequently Asked Questions

Can I hold both RTIYX and RLVSX in my portfolio?

RTIYX and RLVSX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RTIYX or RLVSX?

RTIYX has higher volatility (4.37%) compared to RLVSX (0.70%). In terms of maximum drawdown, RTIYX dropped -38.06% vs RLVSX's -11.77%.

Which has better risk-adjusted returns?

RLVSX currently has the higher Sharpe Ratio (3.47 vs 1.55), 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.