RWIIX vs. RWDIX

Last updated Jun 24, 2026

RWIIX (Redwood AlphaFactor Tactical International Fund) and RWDIX (Redwood Managed Volatility Fund) are both mutual funds - RWIIX is a Foreign Large Cap Equities fund managed by Redwood, while RWDIX is a Nontraditional Bonds fund managed by Redwood. Over the past 5 years, RWIIX returned 1.58%/yr vs 0.19%/yr for RWDIX. At a 0.44 correlation, their price movements are largely independent. RWIIX charges 1.22%/yr vs 1.56%/yr for RWDIX.

Performance

RWIIX vs. RWDIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Redwood AlphaFactor Tactical International Fund (RWIIX) and Redwood Managed Volatility Fund (RWDIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RWIIX achieves a 7.48% return, which is significantly higher than RWDIX's 1.32% return.

RWIIX

• 1D: -0.14%
• 1M: -0.50%
• YTD: 7.48%
• 6M: 7.64%
• 1Y: 20.25%
• 3Y*: 4.78%
• 5Y*: 1.58%
• 10Y*: —

RWDIX

• 1D: -0.09%
• 1M: 0.36%
• YTD: 1.32%
• 6M: 1.50%
• 1Y: 5.31%
• 3Y*: 5.06%
• 5Y*: 0.19%
• 10Y*: 1.85%

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

RWIIX vs. RWDIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RWIIX Redwood AlphaFactor Tactical International Fund	7.48%	7.87%	-6.03%	9.07%	-11.57%	10.68%	14.57%	4.58%	-2.46%	0.62%
RWDIX Redwood Managed Volatility Fund	1.32%	4.75%	6.63%	1.04%	-11.18%	0.52%	-1.93%	9.04%	-2.60%	0.44%

Correlation

The correlation between RWIIX and RWDIX is 0.55, 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	0.55
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.49
Correlation (All Time) Calculated using the full available price history since Dec 26, 2017	0.44

The correlation between RWIIX and RWDIX shifts across timeframes, from 0.44 (all time) to 0.55 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

RWIIX vs. RWDIX — Risk / Return Rank

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

RWIIX

RWIIX Risk / Return Rank: 46
RWIIX Sharpe Ratio Rank: 43
RWIIX Sortino Ratio Rank: 39
RWIIX Omega Ratio Rank: 46
RWIIX Calmar Ratio Rank: 63
RWIIX Martin Ratio Rank: 37

RWDIX

RWDIX Risk / Return Rank: 79
RWDIX Sharpe Ratio Rank: 84
RWDIX Sortino Ratio Rank: 87
RWDIX Omega Ratio Rank: 87
RWDIX Calmar Ratio Rank: 60
RWDIX Martin Ratio Rank: 76

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.

RWIIX vs. RWDIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Redwood AlphaFactor Tactical International Fund (RWIIX) and Redwood Managed Volatility Fund (RWDIX). 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.

	RWIIX	RWDIX	Difference
Sharpe ratio: Return per unit of total volatility	1.77	2.52	-0.75
Sortino ratio: Return per unit of downside risk	2.44	3.88	-1.45
Omega ratio: Gain probability vs. loss probability	1.34	1.56	-0.22
Calmar ratio: Return relative to maximum drawdown	2.93	2.85	+0.08
Martin ratio: Return relative to average drawdown	7.65	13.40	-5.74

RWIIX vs. RWDIX - Sharpe Ratio Comparison

The current RWIIX Sharpe Ratio is 1.77, which is comparable to the RWDIX Sharpe Ratio of 2.52. The chart below compares the historical Sharpe Ratios of RWIIX and RWDIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

RWIIX vs. RWDIX - Drawdown Comparison

The maximum RWIIX drawdown since its inception was -20.34%, which is greater than RWDIX's maximum drawdown of -16.69%. Use the drawdown chart below to compare losses from any high point for RWIIX and RWDIX.

Drawdown Indicators

	RWIIX	RWDIX	Difference
Max Drawdown Largest peak-to-trough decline	-20.34%	-16.69%	-3.65%
Max Drawdown (1Y) Largest decline over 1 year	-6.94%	-1.95%	-4.99%
Max Drawdown (3Y) Largest decline over 3 years	-20.34%	-4.96%	-15.38%
Max Drawdown (5Y) Largest decline over 5 years	-20.34%	-16.10%	-4.24%
Max Drawdown (10Y) Largest decline over 10 years	—	-16.69%	—
Current Drawdown Current decline from peak	-2.38%	-0.46%	-1.92%
Average Drawdown Average peak-to-trough decline	-7.78%	-4.40%	-3.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	0.41%	+2.24%

Volatility

RWIIX vs. RWDIX - Volatility Comparison

Redwood AlphaFactor Tactical International Fund (RWIIX) has a higher volatility of 4.12% compared to Redwood Managed Volatility Fund (RWDIX) at 0.60%. This indicates that RWIIX's price experiences larger fluctuations and is considered to be riskier than RWDIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RWIIX	RWDIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.12%	0.60%	+3.52%
Volatility (6M) Calculated over the trailing 6-month period	9.08%	1.78%	+7.30%
Volatility (1Y) Calculated over the trailing 1-year period	11.52%	2.20%	+9.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.63%	4.70%	+6.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.95%	4.29%	+6.66%

RWIIX vs. RWDIX - Expense Ratio Comparison

RWIIX has a 1.22% expense ratio, which is lower than RWDIX's 1.56% expense ratio.

Dividends

RWIIX vs. RWDIX - Dividend Comparison

RWIIX's dividend yield for the trailing twelve months is around 8.13%, more than RWDIX's 4.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
RWDIX Redwood Managed Volatility Fund	4.97%	4.90%	5.82%	7.60%	0.47%	6.36%	5.42%	3.59%	2.59%	5.52%	5.14%	1.17%
RWIIX Redwood AlphaFactor Tactical International Fund	8.13%	8.74%	0.00%	6.82%	1.72%	14.15%	6.51%	1.84%	0.86%	0.02%	0.00%	0.00%

Frequently Asked Questions

Can I hold both RWIIX and RWDIX in my portfolio?

RWIIX and RWDIX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RWIIX or RWDIX?

RWIIX has higher volatility (4.12%) compared to RWDIX (0.60%). In terms of maximum drawdown, RWIIX dropped -20.34% vs RWDIX's -16.69%.

Which has better risk-adjusted returns?

RWDIX currently has the higher Sharpe Ratio (2.52 vs 1.77), 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.