CXH vs. SPY
Compare and contrast key facts about MFS Investment Grade Municipal Trust (CXH) and State Street SPDR S&P 500 ETF (SPY).
SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
CXH vs. SPY - Performance Comparison
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CXH vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CXH MFS Investment Grade Municipal Trust | 2.28% | 4.39% | 9.77% | 10.39% | -27.91% | 10.50% | 5.37% | 16.63% | -4.89% | 8.75% |
SPY State Street SPDR S&P 500 ETF | -3.65% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, CXH achieves a 2.28% return, which is significantly higher than SPY's -3.65% return. Over the past 10 years, CXH has underperformed SPY with an annualized return of 2.22%, while SPY has yielded a comparatively higher 14.06% annualized return.
CXH
- 1D
- 0.50%
- 1M
- -2.03%
- YTD
- 2.28%
- 6M
- 4.66%
- 1Y
- 6.43%
- 3Y*
- 7.26%
- 5Y*
- 0.24%
- 10Y*
- 2.22%
SPY
- 1D
- 0.75%
- 1M
- -4.28%
- YTD
- -3.65%
- 6M
- -1.42%
- 1Y
- 18.14%
- 3Y*
- 18.48%
- 5Y*
- 11.86%
- 10Y*
- 14.06%
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Return for Risk
CXH vs. SPY — Risk / Return Rank
CXH
SPY
CXH vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS Investment Grade Municipal Trust (CXH) and State Street SPDR S&P 500 ETF (SPY). 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.
| CXH | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.87 | 0.96 | -0.09 |
Sortino ratioReturn per unit of downside risk | 1.24 | 1.49 | -0.25 |
Omega ratioGain probability vs. loss probability | 1.18 | 1.23 | -0.05 |
Calmar ratioReturn relative to maximum drawdown | 1.03 | 1.53 | -0.50 |
Martin ratioReturn relative to average drawdown | 2.26 | 7.27 | -5.00 |
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
| CXH | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.87 | 0.96 | -0.09 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.70 | -0.67 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.17 | 0.79 | -0.61 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.35 | 0.56 | -0.22 |
Correlation
The correlation between CXH and SPY is 0.09, 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
CXH vs. SPY - Dividend Comparison
CXH's dividend yield for the trailing twelve months is around 4.92%, more than SPY's 1.13% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CXH MFS Investment Grade Municipal Trust | 4.92% | 4.70% | 3.84% | 3.63% | 4.75% | 4.77% | 4.77% | 4.63% | 5.28% | 4.90% | 5.19% | 5.14% |
SPY State Street SPDR S&P 500 ETF | 1.13% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
CXH vs. SPY - Drawdown Comparison
The maximum CXH drawdown since its inception was -49.06%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for CXH and SPY.
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Drawdown Indicators
| CXH | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -49.06% | -55.19% | +6.13% |
Max Drawdown (1Y)Largest decline over 1 year | -6.43% | -12.05% | +5.62% |
Max Drawdown (5Y)Largest decline over 5 years | -34.69% | -24.50% | -10.19% |
Max Drawdown (10Y)Largest decline over 10 years | -34.69% | -33.72% | -0.97% |
Current DrawdownCurrent decline from peak | -7.49% | -5.53% | -1.96% |
Average DrawdownAverage peak-to-trough decline | -7.59% | -9.09% | +1.50% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.93% | 2.54% | +0.39% |
Volatility
CXH vs. SPY - Volatility Comparison
The current volatility for MFS Investment Grade Municipal Trust (CXH) is 3.59%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.35%. This indicates that CXH experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CXH | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.59% | 5.35% | -1.76% |
Volatility (6M)Calculated over the trailing 6-month period | 4.68% | 9.50% | -4.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.44% | 19.06% | -11.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.91% | 17.06% | -7.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.89% | 17.92% | -5.03% |