Fund Evaluator:
Russell Inv Strategic Bond Y (RFCYX)
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Best Performing in Intermediate Core-Plus Bond Over the Last Year
| 4.1% | Diamond Hill Core Plus Bond Y (DHNYX) |
| 3.9% | Diamond Hill Core Plus Bond I (DHNIX) |
| 3.7% | Diamond Hill Core Plus Bond Investor (DHNAX) |
| 3.5% | Weitz Core Plus Income Investor (WCPNX) |
| 3.4% | Nuveen Core Plus Bond I (TCBHX) |
Fund Details
Russell Inv Strategic Bond Y Overview
Russell Inv Strategic Bond Y (RFCYX) is an actively managed Taxable Bond Intermediate Core-Plus Bond fund. Russell launched the fund in 2005.
The investment seeks to provide total return. The fund has a non-fundamental policy to invest, under normal circumstances, at least 80% of the value of its net assets plus borrowings for investment purposes in bonds. Russell Investment Management, LLC provides or oversees the provision of all investment advisory and portfolio management services for the fund.
About Russell Inv Strategic Bond Y (RFCYX)
There are 3 members of the management team with an average tenure of 1.24 years: Keith Brakebill (2025), Brian Pringle (2025), Riti Samanta (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. Russell Inv Strategic Bond Y has 1102 securities in its portfolio. The top 10 holdings constitute 42.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Russell Inv Strategic Bond Y is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Russell Inv Strategic Bond Y has 6.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 82.9% (76.4% domestic bond, 6.5% foreign bond and 0.0% convertible bond). Russell Inv Strategic Bond Y has 17.1% of the portfolio in cash.
Assets Under Management
The fund has $271 million in total assets, which is below the $1 billion average for the Intermediate Core-Plus Bond category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
RFCYX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Russell Inv Strategic Bond Y expense ratio is average compared to funds in the Intermediate Core-Plus Bond category. Russell Inv Strategic Bond Y has an expense ratio of 0.42%, which is 46% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Russell Inv Strategic Bond Y has a portfolio turnover rate of 56%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 181% for the Intermediate Core-Plus Bond category.
Recently, in the month of July 2026, Russell Inv Strategic Bond Y returned -1.5%, which earned it a grade of F, as the Intermediate Core-Plus Bond category had an average return of -1.3%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Russell Inv Strategic Bond Y has a trailing yield of 5.29%, which is above the 4.36% category average. The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Russell Inv Strategic Bond Y Grades
Year to date, the fund has returned -0.8%, 0.2 percentage points worse than the category, which translates into a grade of D. The fund has returned 2.6% over the past year (grade of D), 3.6% over the past three years (grade of F) and -1.0% per year over the past five years (grade of F) and 1.3% per year over the past 10 years (grade of F).
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RFCYX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| RFCYX Return (NAV) | -1.5% | -0.8% | 2.6% | 3.6% | -1.0% | 1.3% |
| RFCYX Grade | F | C | D | F | F | F |
| +/- Category | -0.1% | -0.0% | -0.2% | -0.5% | -0.8% | -0.5% |
| Intermediate Core-Plus Bond Avg | -1.3% | -0.7% | 2.7% | 4.2% | -0.2% | 1.8% |
| RFCYX Tax Cost Ratio | na | na | 2.1% | 1.9% | 1.5% | 1.4% |
RFCYX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| RFCYX Return (NAV) | -0.8% | 7.6% | 1.1% | 4.4% | -14.1% | -1.6% | 9.0% | 9.6% | -0.5% | 4.0% | 3.4% |
| RFCYX Grade | D | B | F | F | D | F | B | B | B | D | D |
| +/- Category | -0.2% | 0.2% | -1.2% | -1.7% | -0.7% | -1.0% | 0.4% | 0.4% | 0.4% | -0.4% | -0.9% |
| Intermediate Core-Plus Bond Avg | -0.6% | 7.3% | 2.3% | 6.1% | -13.4% | -0.6% | 8.6% | 9.1% | -0.9% | 4.4% | 4.3% |
| Risk Measures | |
| Standard Deviation: | 5.9% |
| Total Risk Index: | 0.48 - Below Average |
| Category Risk Index: | 1.04 - Above Average |
| Category Risk Grade: | D (68% Rank) |
| Beta: | 1.03 |
| R-Squared: | 99% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 5.3% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $2358 Mil |
| Fund Total Assets: | $ 272 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 56% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 1.5 years | |||
| Average Tenure: 1.2 years | |||
| Managers (Year): Pringle Brian (2025), Samanta Riti (2025), Brakebill Keith (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 1102 |
| % in Top 10 Holdings: | 42.2% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 6.5% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 76.4% |
| Foreign Bond: | 6.5% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 17.1% |
Purchase Information
| Fund Family: | Russell |
| Phone Number: | 800-787-7354 |
| Website: | www.russell.com |
| Status: | Open |
| Inception Date: | June 22, 2005 |
| Min. Initial Purchase: | $10,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.42% ( Rating : Avg ) |
| Category Average Expense Ratio (%): | 0.78% |
| Share Class: | Russell Inv Strategic Bond Y |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
