Fund Evaluator:

Russell Inv Tax-Managed Real Assets M Overview

Russell Inv Tax-Managed Real Assets M (RTXMX) is an actively managed International Equity Global Small/Mid Stock fund. Russell launched the fund in 2019.

The investment seeks to provide long term capital growth on an after-tax basis. The fund has a non-fundamental policy to invest, under normal circumstances, at least 80% of its net assets plus borrowings for investment purposes in investments related to real assets and real asset companies. It seeks to realize capital growth while considering shareholder tax consequences arising from its portfolio management activities.

About Russell Inv Tax-Managed Real Assets M (RTXMX)

There are 1 members of the management team with an average tenure of 7.15 years: Patrick Nikodem (2019). Management tenure is more important for actively managed funds than passive index funds.

The fund has 4 primary benchmarks: MSCI World NR USD index with a weighting of 100%, FTSE Nareit Equity REITs TR USD index with a weighting of 40%, S&P Global Infrastructure TR USD index with a weighting of 30% and S&P Global Natural Resources TR USD index with a weighting of 30%. Russell Inv Tax-Managed Real Assets M has 438 securities in its portfolio. The top 10 holdings constitute 23.7% 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 Tax-Managed Real Assets M is part of the Equity global asset class and is within the International Equity fund group. Russell Inv Tax-Managed Real Assets M has 33.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 62.9%. There is 33.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Russell Inv Tax-Managed Real Assets M has 3.6% of the portfolio in cash.

Assets Under Management

The fund has $489 million in total assets, which is below the $892 million average for the Global Small/Mid Stock 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.

RTXMX 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 Tax-Managed Real Assets M expense ratio is high compared to funds in the Global Small/Mid Stock category. Russell Inv Tax-Managed Real Assets M has an expense ratio of 0.97%, which is 23% 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 Tax-Managed Real Assets M has a portfolio turnover rate of 44%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 57% for the Global Small/Mid Stock category.

Recently, in the month of July 2026, Russell Inv Tax-Managed Real Assets M returned 2.3%, which earned it a grade of B, as the Global Small/Mid Stock category had an average return of -2.0%. 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 Tax-Managed Real Assets M has a trailing yield of 2.74%, which is above the 1.34% category average. The fund normally distributes its income 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 Tax-Managed Real Assets M Grades

Year to date, the fund has returned 17.4%, 6.5 percentage points better than the category, which translates into a grade of A. The fund has returned 27.6% over the past year (grade of A), 11.2% over the past three years (grade of B) and 6.9% per year over the past five years (grade of A).

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