Fund Evaluator:
Russell Inv Opportunistic Credit Y (RGCYX)
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Best Performing in Multisector Bond Over the Last Year
| 8.2% | Fidelity Advisor Strategic Income Z (FIWDX) |
| 8.0% | Morningstar Multisector Bond (MSTMX) |
| 6.6% | Russell Inv Opportunistic Credit Y (RGCYX) |
| 6.5% | Russell Inv Opportunistic Credit M (RGOTX) |
| 6.1% | Thrivent Multisector Bond S (IIINX) |
Fund Details
Russell Inv Opportunistic Credit Y Overview
Russell Inv Opportunistic Credit Y (RGCYX) is an actively managed Taxable Bond Multisector Bond fund. Russell launched the fund in 2010.
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 credit-related investments. The fund is advised by RIM and multiple money managers unaffiliated with RIM pursuant to a multi-manager approach.
About Russell Inv Opportunistic Credit Y (RGCYX)
There are 2 members of the management team with an average tenure of 1.45 years: Brian Pringle (2025), Riti Samanta (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 5 primary benchmarks: Bloomberg US Universal TR USD index with a weighting of 100%, ICE BofA Dv Mkts HY Constnd TR HUSD index with a weighting of 50%, JPM EMBI Global Diversified TR USD index with a weighting of 20%, Bloomberg US Treasury Bill 1-3 M TR USD index with a weighting of 20% and Bloomberg US Corp Bond TR USD index with a weighting of 10%. Russell Inv Opportunistic Credit Y has 1525 securities in its portfolio. The top 10 holdings constitute 3.5% 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 Opportunistic Credit Y is part of the Fixed Income global asset class and is within the Taxable Bond fund group. Russell Inv Opportunistic Credit Y has 32.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.1%. There is 0.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 87.0% (55.4% domestic bond, 31.6% foreign bond and 0.6% convertible bond). Russell Inv Opportunistic Credit Y has 11.5% of the portfolio in cash.
Assets Under Management
The fund has $99 million in total assets, which is below the $1 billion average for the Multisector 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.
RGCYX 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 Opportunistic Credit Y expense ratio is above average compared to funds in the Multisector Bond category. Russell Inv Opportunistic Credit Y has an expense ratio of 0.62%, which is 35% lower than its category average, making the fund expense ratio grade a B. 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 Opportunistic Credit Y has a portfolio turnover rate of 75%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 162% for the Multisector Bond category.
Recently, in the month of June 2026, Russell Inv Opportunistic Credit Y returned 0.5%, which earned it a grade of A, as the Multisector Bond category had an average return of 0.2%. 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 Opportunistic Credit Y has a trailing yield of 5.84%, which is above the 5.25% 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 Opportunistic Credit Y Grades
Year to date, the fund has returned 2.4%, 0.8 percentage points better than the category, which translates into a grade of A. The fund has returned 6.6% over the past year (grade of A), 8.5% over the past three years (grade of A) and 3.3% per year over the past five years (grade of A) and 4.2% per year over the past 10 years (grade of B).
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RGCYX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| RGCYX Return (NAV) | 0.5% | 2.6% | 6.6% | 8.5% | 3.3% | 4.2% |
| RGCYX Grade | A | A | A | A | A | B |
| +/- Category | 0.3% | 0.7% | 1.3% | 1.6% | 0.7% | 0.5% |
| Multisector Bond Avg | 0.2% | 1.9% | 5.3% | 6.9% | 2.6% | 3.7% |
| RGCYX Tax Cost Ratio | na | na | 2.4% | 2.3% | 2.1% | 2.0% |
RGCYX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| RGCYX Return (NAV) | 2.4% | 8.7% | 7.3% | 11.2% | -11.4% | 2.7% | 3.7% | 11.0% | -3.2% | 9.8% | 11.5% |
| RGCYX Grade | A | B | A | A | C | C | F | C | D | A | A |
| +/- Category | 0.8% | 0.6% | 1.6% | 2.8% | -1.3% | 0.5% | -2.6% | 0.7% | -1.3% | 3.2% | 4.0% |
| Multisector Bond Avg | 1.6% | 8.1% | 5.7% | 8.4% | -10.1% | 2.2% | 6.4% | 10.3% | -1.9% | 6.6% | 7.5% |
| Risk Measures | |
| Standard Deviation: | 3.7% |
| Total Risk Index: | 0.31 - Low |
| Category Risk Index: | 0.84 - Below Average |
| Category Risk Grade: | B (21% Rank) |
| Beta: | 0.60 |
| R-Squared: | 79% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | High Quality Limited Sensitivity |
| Yield: | 5.8% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | Annually |
| Total Assets: | $852 Mil |
| Fund Total Assets: | $ 99 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 75% |
Management Team
| Number of Managers: 2 | |||
| Longest Tenure: 1.5 years | |||
| Average Tenure: 1.5 years | |||
| Managers (Year): Pringle Brian (2025), Samanta Riti (2025) | |||
Portfolio Composition (as of 5/31/26)
| # of Holdings: | 1525 |
| % in Top 10 Holdings: | 3.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 32.1% |
Portfolio Allocation |
|
| Domestic Stock: | 0.1% |
| Foreign Stock: | 0.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 55.4% |
| Foreign Bond: | 31.6% |
| Convertible Bond: | 0.6% |
| Other: | 0.3% |
| Cash: | 11.5% |
Purchase Information
| Fund Family: | Russell |
| Phone Number: | 800-787-7354 |
| Website: | www.russell.com |
| Status: | Open |
| Inception Date: | September 30, 2010 |
| 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 (%): | 0.62% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.95% |
| Share Class: | Russell Inv Opportunistic Credit Y |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
