TMNIX vs. RWMIX

Last updated Apr 1, 2026

Compare and contrast key facts about Counterpoint Tactical Municipal Fund (TMNIX) and Redwood Managed Municipal Income Fund (RWMIX).

TMNIX is managed by Counterpoint Mutual Funds. It was launched on Jun 10, 2018. RWMIX is managed by Redwood. It was launched on Mar 8, 2017.

Performance

TMNIX vs. RWMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Counterpoint Tactical Municipal Fund (TMNIX) and Redwood Managed Municipal Income Fund (RWMIX). The values are adjusted to include any dividend payments, if applicable.

TMNIX vs. RWMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
TMNIX Counterpoint Tactical Municipal Fund	-0.24%	2.56%	3.92%	6.85%	-3.12%	2.96%	6.73%	8.70%	0.12%
RWMIX Redwood Managed Municipal Income Fund	0.01%	-2.18%	2.69%	3.77%	-9.56%	4.28%	0.13%	10.09%	0.14%

Returns By Period

In the year-to-date period, TMNIX achieves a -0.24% return, which is significantly lower than RWMIX's 0.01% return.

TMNIX

• 1D: 0.03%
• 1M: -2.18%
• YTD: -0.24%
• 6M: 0.90%
• 1Y: 3.88%
• 3Y*: 3.41%
• 5Y*: 2.37%
• 10Y*: —

RWMIX

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

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

TMNIX vs. RWMIX - Expense Ratio Comparison

Both TMNIX and RWMIX have an expense ratio of 1.00%.

TMNIX

Counterpoint Tactical Municipal Fund

RWMIX

Redwood Managed Municipal Income Fund

Return for Risk

TMNIX vs. RWMIX — Risk / Return Rank

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

TMNIX

TMNIX Risk / Return Rank: 83
TMNIX Sharpe Ratio Rank: 86
TMNIX Sortino Ratio Rank: 90
TMNIX Omega Ratio Rank: 92
TMNIX Calmar Ratio Rank: 77
TMNIX Martin Ratio Rank: 69

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

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.

TMNIX vs. RWMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Counterpoint Tactical Municipal Fund (TMNIX) and Redwood Managed Municipal Income Fund (RWMIX). 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.

	TMNIX	RWMIX	Difference
Sharpe ratio Return per unit of total volatility	1.71	-0.25	+1.96
Sortino ratio Return per unit of downside risk	2.55	-0.25	+2.79
Omega ratio Gain probability vs. loss probability	1.44	0.92	+0.52
Calmar ratio Return relative to maximum drawdown	1.82	-0.18	+2.00
Martin ratio Return relative to average drawdown	6.57	-0.26	+6.83
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TMNIX vs. RWMIX - Sharpe Ratio Comparison

The current TMNIX Sharpe Ratio is 1.71, which is higher than the RWMIX Sharpe Ratio of -0.25. The chart below compares the historical Sharpe Ratios of TMNIX and RWMIX, 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

	TMNIX	RWMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.71	-0.25	+1.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.79	-0.15	+0.94
Sharpe Ratio (All Time) Calculated using the full available price history	1.35	0.37	+0.98

Correlation

The correlation between TMNIX and RWMIX is 0.65, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

TMNIX vs. RWMIX - Dividend Comparison

TMNIX's dividend yield for the trailing twelve months is around 3.07%, less than RWMIX's 3.58% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
TMNIX Counterpoint Tactical Municipal Fund	3.07%	2.79%	3.31%	3.40%	0.36%	4.39%	2.36%	3.69%	1.10%	0.00%
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%

Drawdowns

TMNIX vs. RWMIX - Drawdown Comparison

The maximum TMNIX drawdown since its inception was -4.63%, smaller than the maximum RWMIX drawdown of -12.90%. Use the drawdown chart below to compare losses from any high point for TMNIX and RWMIX.

Drawdown Indicators

	TMNIX	RWMIX	Difference
Max Drawdown Largest peak-to-trough decline	-4.63%	-12.90%	+8.27%
Max Drawdown (1Y) Largest decline over 1 year	-2.21%	-5.56%	+3.35%
Max Drawdown (5Y) Largest decline over 5 years	-4.63%	-12.90%	+8.27%
Current Drawdown Current decline from peak	-2.18%	-7.10%	+4.92%
Average Drawdown Average peak-to-trough decline	-1.48%	-4.65%	+3.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.61%	3.76%	-3.15%

Volatility

TMNIX vs. RWMIX - Volatility Comparison

Counterpoint Tactical Municipal Fund (TMNIX) and Redwood Managed Municipal Income Fund (RWMIX) have volatilities of 1.10% and 1.08%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TMNIX	RWMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.10%	1.08%	+0.02%
Volatility (6M) Calculated over the trailing 6-month period	1.69%	1.56%	+0.13%
Volatility (1Y) Calculated over the trailing 1-year period	2.35%	3.89%	-1.54%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.00%	3.92%	-0.92%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.68%	3.54%	-0.86%