CIF vs. CPMPX
Compare and contrast key facts about MFS Intermediate High Income Fund (CIF) and Changing Parameters Fund (CPMPX).
CIF is a passively managed fund by MFS that tracks the performance of the Barclays U.S. High-Yield Corporate 2% Issuer Capped Index. It was launched on Jul 21, 1988. CPMPX is managed by Changing Parameters. It was launched on Oct 2, 2006.
Performance
CIF vs. CPMPX - Performance Comparison
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CIF vs. CPMPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CIF MFS Intermediate High Income Fund | -1.00% | 8.97% | 11.42% | 11.85% | -32.24% | 17.80% | 0.27% | 43.26% | -19.93% | 25.66% |
CPMPX Changing Parameters Fund | 0.09% | 6.65% | -3.47% | 8.13% | -0.22% | 3.86% | 13.43% | 6.82% | -1.19% | 5.29% |
Returns By Period
In the year-to-date period, CIF achieves a -1.00% return, which is significantly lower than CPMPX's 0.09% return. Over the past 10 years, CIF has outperformed CPMPX with an annualized return of 6.30%, while CPMPX has yielded a comparatively lower 4.32% annualized return.
CIF
- 1D
- 1.24%
- 1M
- -2.38%
- YTD
- -1.00%
- 6M
- -2.74%
- 1Y
- 7.01%
- 3Y*
- 10.01%
- 5Y*
- 1.03%
- 10Y*
- 6.30%
CPMPX
- 1D
- 0.00%
- 1M
- -0.75%
- YTD
- 0.09%
- 6M
- 1.15%
- 1Y
- 6.44%
- 3Y*
- 3.14%
- 5Y*
- 2.64%
- 10Y*
- 4.32%
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CIF vs. CPMPX - Expense Ratio Comparison
CIF has a 1.50% expense ratio, which is lower than CPMPX's 2.90% expense ratio.
Return for Risk
CIF vs. CPMPX — Risk / Return Rank
CIF
CPMPX
CIF vs. CPMPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS Intermediate High Income Fund (CIF) and Changing Parameters Fund (CPMPX). 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.
| CIF | CPMPX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.52 | 3.37 | -2.85 |
Sortino ratioReturn per unit of downside risk | 0.79 | 5.48 | -4.69 |
Omega ratioGain probability vs. loss probability | 1.12 | 1.89 | -0.77 |
Calmar ratioReturn relative to maximum drawdown | 0.66 | 4.84 | -4.18 |
Martin ratioReturn relative to average drawdown | 2.43 | 18.86 | -16.43 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CIF | CPMPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.52 | 3.37 | -2.85 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.06 | 0.69 | -0.63 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | 1.38 | -1.06 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.16 | 1.10 | -0.94 |
Correlation
The correlation between CIF and CPMPX is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
CIF vs. CPMPX - Dividend Comparison
CIF's dividend yield for the trailing twelve months is around 10.82%, more than CPMPX's 3.82% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CIF MFS Intermediate High Income Fund | 10.82% | 10.46% | 10.23% | 10.02% | 11.22% | 8.40% | 9.01% | 8.63% | 11.71% | 9.16% | 9.91% | 10.05% |
CPMPX Changing Parameters Fund | 3.82% | 3.83% | 0.00% | 4.26% | 5.03% | 4.24% | 6.94% | 2.85% | 1.71% | 3.32% | 2.25% | 1.51% |
Drawdowns
CIF vs. CPMPX - Drawdown Comparison
The maximum CIF drawdown since its inception was -69.23%, which is greater than CPMPX's maximum drawdown of -8.87%. Use the drawdown chart below to compare losses from any high point for CIF and CPMPX.
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Drawdown Indicators
| CIF | CPMPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -69.23% | -8.87% | -60.36% |
Max Drawdown (1Y)Largest decline over 1 year | -9.68% | -1.31% | -8.37% |
Max Drawdown (5Y)Largest decline over 5 years | -44.92% | -8.13% | -36.79% |
Max Drawdown (10Y)Largest decline over 10 years | -45.24% | -8.13% | -37.11% |
Current DrawdownCurrent decline from peak | -22.34% | -1.83% | -20.51% |
Average DrawdownAverage peak-to-trough decline | -17.80% | -1.87% | -15.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.63% | 0.34% | +2.29% |
Volatility
CIF vs. CPMPX - Volatility Comparison
MFS Intermediate High Income Fund (CIF) has a higher volatility of 5.34% compared to Changing Parameters Fund (CPMPX) at 0.70%. This indicates that CIF's price experiences larger fluctuations and is considered to be riskier than CPMPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CIF | CPMPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.34% | 0.70% | +4.64% |
Volatility (6M)Calculated over the trailing 6-month period | 7.96% | 1.38% | +6.58% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.45% | 1.90% | +11.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.86% | 3.83% | +13.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.43% | 3.13% | +16.30% |