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MFS New Discovery Value Fund Class A (NDVAX) Sharpe Ratio: 1.02

Mutual Fund · Currency in USD · Last updated Jul 11, 2026

The MFS New Discovery Fund seeks capital appreciation by investing in small-cap companies with significant growth potential across various market environments, focusing on emerging, high-quality durable, and out-of-favor industries.

NDVAX's Sharpe Ratio of 1.02 indicates that for each unit of volatility, it generates 1.02 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jul 11, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets. For how to read this number and when it can mislead, see Sharpe Ratio Explained.

NDVAX Sharpe Ratio Rank

NDVAX Sharpe Ratio Rank: 23.123
Below Average

NDVAX ranks above 23.1% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating below-average returns relative to volatility. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Returns may not adequately compensate for volatility taken
  • Consider smaller allocation given below-average risk-adjusted profile
  • Explore higher-ranked investments with better consistency
  • Assess whether the volatility profile aligns with your portfolio goals

NDVAX Sharpe Ratio Market Positioning

The chart shows NDVAX's Sharpe Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 1.07 or lower
  • Yellow zone (middle 50%): 1.07 to 1.95
  • Green zone (top 25%): 1.95 or higher
  • Top 1%: 3.92+
  • Median: 1.59 — half of all investments score higher

How it compares to other similar mutual funds

The table compares MFS New Discovery Value Fund Class A's Sharpe Ratio with other mutual funds in the Small Cap Value Equities category across multiple time periods, showing how NDVAX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jul 11, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
AVALXAegis Value Fund2.66
MMEYXVictory Integrity Discovery Fund2.35
ICISXVY Columbia Small Cap Value II Portfolio2.29
TSLTXTransamerica Small Cap Value2.29
BSCMXBrandes Small Cap Value Fund2.26
WSCVXWalthausen Small Cap Value Fund2.24
TASCXThird Avenue Small Cap Value Fund2.16
TASVXPGIM Quant Solutions Small-Cap Value Fund2.16
HRTVXHeartland Value Fund2.15
ADKSXAdirondack Small Cap Fund2.12
NDVAXMFS New Discovery Value Fund Class A1.02

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows NDVAX's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when NDVAX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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Sharpe Ratio Calculator

How does NDVAX fit in your portfolio?

Add your other holdings to see your portfolio's Sharpe Ratio and find out.

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