CMGIX vs. MADVX

Last updated Aug 5, 2026

CMGIX (BlackRock Mid-Cap Growth Equity Portfolio) and MADVX (BlackRock Equity Dividend Fund Institutional Shares) are both mutual funds - CMGIX is a Mid Cap Growth Equities fund managed by BlackRock, while MADVX is a Large Cap Value Equities fund actively managed by BlackRock. Over the past 10 years, CMGIX returned 12.04%/yr vs 11.92%/yr for MADVX. Their 0.70 correlation means they have sometimes moved together and sometimes differently. CMGIX charges 0.80%/yr vs 0.71%/yr for MADVX.

Performance

CMGIX vs. MADVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BlackRock Mid-Cap Growth Equity Portfolio (CMGIX) and BlackRock Equity Dividend Fund Institutional Shares (MADVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CMGIX achieves a 9.80% return, which is significantly lower than MADVX's 17.98% return. Both investments have delivered pretty close results over the past 10 years, with CMGIX having a 12.04% annualized return and MADVX not far behind at 11.92%.

CMGIX

• 1D: 2.27%
• 1M: -2.69%
• 6M: 9.68%
• YTD: 9.80%
• 1Y: 5.24%
• 3Y*: 10.70%
• 5Y*: -0.02%
• 10Y*: 12.04%
• ALL TIME*: 9.73%

MADVX

• 1D: 1.38%
• 1M: 3.05%
• 6M: 12.88%
• YTD: 17.98%
• 1Y: 29.84%
• 3Y*: 17.18%
• 5Y*: 11.66%
• 10Y*: 11.92%
• ALL TIME*: 10.19%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
CMGIX BlackRock Mid-Cap Growth Equity Portfolio	$0.00	$0.00	$0.00
MADVX BlackRock Equity Dividend Fund Institutional Shares	$0.00	$0.00	$0.00

CMGIX vs. MADVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CMGIX BlackRock Mid-Cap Growth Equity Portfolio	9.80%	0.49%	12.44%	28.24%	-37.36%	14.51%	46.13%	36.19%	2.88%	34.59%
MADVX BlackRock Equity Dividend Fund Institutional Shares	17.98%	21.70%	6.98%	12.71%	-3.97%	20.13%	4.03%	27.58%	-7.15%	16.31%

Correlation

The correlation between CMGIX and MADVX is 0.59, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.59
Correlation (3Y) Balances recent behavior with more history.	0.60
Correlation (5Y) Shows whether the relationship held over a longer period.	0.65
Correlation (10Y) Provides a long-term view across more market conditions.	0.63
Correlation (All Time) Calculated using the full available price history since Dec 27, 1996	0.70

The correlation between CMGIX and MADVX shifts across timeframes, from 0.59 (1 year) to 0.70 (all time), reflecting how their relationship changes across market environments.

Return for Risk

CMGIX vs. MADVX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

CMGIX

CMGIX Risk / Return Rank: 9
CMGIX Sharpe Ratio Rank: 8
CMGIX Sortino Ratio Rank: 9
CMGIX Omega Ratio Rank: 8
CMGIX Calmar Ratio Rank: 10
CMGIX Martin Ratio Rank: 10

MADVX

MADVX Risk / Return Rank: 92
MADVX Sharpe Ratio Rank: 96
MADVX Sortino Ratio Rank: 94
MADVX Omega Ratio Rank: 91
MADVX Calmar Ratio Rank: 89
MADVX Martin Ratio Rank: 93

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

CMGIX vs. MADVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BlackRock Mid-Cap Growth Equity Portfolio (CMGIX) and BlackRock Equity Dividend Fund Institutional Shares (MADVX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	CMGIX	MADVX	Difference
Sharpe ratio: Return per unit of total volatility	0.34	2.65	-2.31
Sortino ratio: Return per unit of downside risk	0.64	3.66	-3.02
Omega ratio: Gain probability vs. loss probability	1.07	1.47	-0.40
Calmar ratio: Return relative to maximum drawdown	0.52	3.47	-2.95
Martin ratio: Return relative to average drawdown	1.52	14.87	-13.34

CMGIX vs. MADVX - Sharpe Ratio Comparison

The current CMGIX Sharpe Ratio is 0.34, which is lower than the MADVX Sharpe Ratio of 2.65. The chart below compares the historical Sharpe Ratios of CMGIX and MADVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

CMGIX vs. MADVX - Drawdown Comparison

The maximum CMGIX drawdown since its inception was -73.85%, which is greater than MADVX's maximum drawdown of -50.00%. Use the drawdown chart below to compare losses from any high point for CMGIX and MADVX.

Drawdown Indicators

	CMGIX	MADVX	Difference
Max Drawdown Largest peak-to-trough decline	-73.85%	-50.00%	-23.85%
Max Drawdown (1Y) Largest decline over 1 year	-14.90%	-9.01%	-5.89%
Max Drawdown (3Y) Largest decline over 3 years	-29.77%	-15.22%	-14.55%
Max Drawdown (5Y) Largest decline over 5 years	-45.96%	-18.05%	-27.91%
Max Drawdown (10Y) Largest decline over 10 years	-45.96%	-35.94%	-10.02%
Current Drawdown Current decline from peak	-6.89%	0.00%	-6.89%
Average Drawdown Average peak-to-trough decline	-28.53%	-5.27%	-23.26%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.09%	2.10%	+2.99%

Volatility

CMGIX vs. MADVX - Volatility Comparison

BlackRock Mid-Cap Growth Equity Portfolio (CMGIX) has a higher volatility of 6.75% compared to BlackRock Equity Dividend Fund Institutional Shares (MADVX) at 3.45%. This indicates that CMGIX's price experiences larger fluctuations and is considered to be riskier than MADVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CMGIX	MADVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.75%	3.45%	+3.30%
Volatility (6M) Calculated over the trailing 6-month period	18.48%	9.51%	+8.97%
Volatility (1Y) Calculated over the trailing 1-year period	22.84%	11.81%	+11.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.38%	14.22%	+11.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.57%	16.31%	+7.26%

CMGIX vs. MADVX - Expense Ratio Comparison

CMGIX has a 0.80% expense ratio, which is higher than MADVX's 0.71% expense ratio.

Dividends

CMGIX vs. MADVX - Dividend Comparison

CMGIX's dividend yield for the trailing twelve months is around 32.65%, more than MADVX's 13.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CMGIX BlackRock Mid-Cap Growth Equity Portfolio	32.65%	21.20%	0.00%	0.00%	0.00%	4.94%	0.00%	0.39%	4.72%	3.31%	0.00%	2.57%
MADVX BlackRock Equity Dividend Fund Institutional Shares	13.81%	10.23%	8.58%	7.08%	13.50%	12.15%	6.35%	13.15%	14.04%	14.38%	7.98%	18.44%

Frequently Asked Questions

Can I hold both CMGIX and MADVX in my portfolio?

CMGIX and MADVX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CMGIX or MADVX?

CMGIX has higher volatility (6.75%) compared to MADVX (3.45%). In terms of maximum drawdown, CMGIX dropped -73.85% vs MADVX's -50.00%.

Which has better risk-adjusted returns?

MADVX currently has the higher Sharpe Ratio (2.65 vs 0.34), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.