RWMIX vs. RWSIX

Last updated Apr 1, 2026

Compare and contrast key facts about Redwood Managed Municipal Income Fund (RWMIX) and Redwood Systematic Macro Trend ("SMarT") Fund (RWSIX).

RWMIX is managed by Redwood. It was launched on Mar 8, 2017. RWSIX is managed by Redwood. It was launched on Nov 1, 2017.

Performance

RWMIX vs. RWSIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Redwood Managed Municipal Income Fund (RWMIX) and Redwood Systematic Macro Trend ("SMarT") Fund (RWSIX). The values are adjusted to include any dividend payments, if applicable.

RWMIX vs. RWSIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RWMIX Redwood Managed Municipal Income Fund	0.01%	-2.18%	2.69%	3.77%	-9.56%	4.28%	0.13%	10.09%	0.30%	1.65%
RWSIX Redwood Systematic Macro Trend ("SMarT") Fund	-1.83%	-2.43%	-0.64%	8.92%	-6.10%	18.37%	22.40%	11.18%	-3.55%	-6.27%

Returns By Period

In the year-to-date period, RWMIX achieves a 0.01% return, which is significantly higher than RWSIX's -1.83% return.

RWMIX

• 1D: -0.01%
• 1M: -1.88%
• YTD: 0.01%
• 6M: 0.93%
• 1Y: -1.25%
• 3Y*: 0.91%
• 5Y*: -0.57%
• 10Y*: —

RWSIX

• 1D: 0.00%
• 1M: -8.37%
• YTD: -1.83%
• 6M: -1.31%
• 1Y: -1.07%
• 3Y*: -0.39%
• 5Y*: 1.20%
• 10Y*: —

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

RWMIX vs. RWSIX - Expense Ratio Comparison

RWMIX has a 1.00% expense ratio, which is lower than RWSIX's 1.30% expense ratio.

RWSIX

Redwood Systematic Macro Trend ("SMarT") Fund

RWMIX

Redwood Managed Municipal Income Fund

Return for Risk

RWMIX vs. RWSIX — Risk / Return Rank

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

RWMIX

RWMIX Risk / Return Rank: 3
RWMIX Sharpe Ratio Rank: 3
RWMIX Sortino Ratio Rank: 2
RWMIX Omega Ratio Rank: 1
RWMIX Calmar Ratio Rank: 4
RWMIX Martin Ratio Rank: 5

RWSIX

RWSIX Risk / Return Rank: 4
RWSIX Sharpe Ratio Rank: 4
RWSIX Sortino Ratio Rank: 4
RWSIX Omega Ratio Rank: 4
RWSIX Calmar Ratio Rank: 4
RWSIX Martin Ratio Rank: 4

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.

RWMIX vs. RWSIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Redwood Managed Municipal Income Fund (RWMIX) and Redwood Systematic Macro Trend ("SMarT") Fund (RWSIX). 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.

	RWMIX	RWSIX	Difference
Sharpe ratio Return per unit of total volatility	-0.25	-0.08	-0.16
Sortino ratio Return per unit of downside risk	-0.25	-0.03	-0.22
Omega ratio Gain probability vs. loss probability	0.92	1.00	-0.07
Calmar ratio Return relative to maximum drawdown	-0.18	-0.22	+0.05
Martin ratio Return relative to average drawdown	-0.26	-0.48	+0.22
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RWMIX vs. RWSIX - Sharpe Ratio Comparison

The current RWMIX Sharpe Ratio is -0.25, which is lower than the RWSIX Sharpe Ratio of -0.08. The chart below compares the historical Sharpe Ratios of RWMIX and RWSIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	RWMIX	RWSIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.25	-0.08	-0.16
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.15	0.10	-0.25
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.35	+0.02

Correlation

The correlation between RWMIX and RWSIX is 0.08, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

RWMIX vs. RWSIX - Dividend Comparison

RWMIX's dividend yield for the trailing twelve months is around 3.58%, less than RWSIX's 4.59% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
RWMIX Redwood Managed Municipal Income Fund	3.58%	2.67%	4.08%	2.80%	1.02%	6.80%	2.16%	3.36%	2.13%	2.06%
RWSIX Redwood Systematic Macro Trend ("SMarT") Fund	4.59%	4.51%	0.00%	10.35%	3.41%	7.81%	7.78%	3.05%	2.51%	0.63%

Drawdowns

RWMIX vs. RWSIX - Drawdown Comparison

The maximum RWMIX drawdown since its inception was -12.90%, smaller than the maximum RWSIX drawdown of -24.90%. Use the drawdown chart below to compare losses from any high point for RWMIX and RWSIX.

Drawdown Indicators

	RWMIX	RWSIX	Difference
Max Drawdown Largest peak-to-trough decline	-12.90%	-24.90%	+12.00%
Max Drawdown (1Y) Largest decline over 1 year	-5.56%	-9.68%	+4.12%
Max Drawdown (5Y) Largest decline over 5 years	-12.90%	-24.90%	+12.00%
Current Drawdown Current decline from peak	-7.10%	-18.29%	+11.19%
Average Drawdown Average peak-to-trough decline	-4.65%	-6.72%	+2.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.76%	4.44%	-0.68%

Volatility

RWMIX vs. RWSIX - Volatility Comparison

The current volatility for Redwood Managed Municipal Income Fund (RWMIX) is 1.08%, while Redwood Systematic Macro Trend ("SMarT") Fund (RWSIX) has a volatility of 4.46%. This indicates that RWMIX experiences smaller price fluctuations and is considered to be less risky than RWSIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RWMIX	RWSIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	4.46%	-3.38%
Volatility (6M) Calculated over the trailing 6-month period	1.56%	7.43%	-5.87%
Volatility (1Y) Calculated over the trailing 1-year period	3.89%	11.44%	-7.55%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.92%	12.09%	-8.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.54%	12.26%	-8.72%