GWMIX vs. MBDFX
GWMIX (AMG GW&K Municipal Bond Fund) and MBDFX (AMG GW&K Core Bond ESG Fund) are both mutual funds - GWMIX is a Municipal Bonds fund managed by AMG, while MBDFX is a Intermediate Core Bond fund managed by AMG. Over the past 10 years, GWMIX returned 2.29%/yr vs 1.29%/yr for MBDFX. At a 0.49 correlation, their price movements are largely independent. GWMIX charges 0.39%/yr vs 0.56%/yr for MBDFX.
Performance
GWMIX vs. MBDFX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, GWMIX achieves a 1.18% return, which is significantly higher than MBDFX's 0.17% return. Over the past 10 years, GWMIX has outperformed MBDFX with an annualized return of 2.29%, while MBDFX has yielded a comparatively lower 1.29% annualized return.
GWMIX
- 1D
- 0.09%
- 1M
- 1.57%
- YTD
- 1.18%
- 6M
- 1.44%
- 1Y
- 7.11%
- 3Y*
- 3.55%
- 5Y*
- 1.68%
- 10Y*
- 2.29%
MBDFX
- 1D
- 0.22%
- 1M
- 0.89%
- YTD
- 0.17%
- 6M
- 0.28%
- 1Y
- 4.42%
- 3Y*
- 3.91%
- 5Y*
- -0.58%
- 10Y*
- 1.29%
GWMIX vs. MBDFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
GWMIX AMG GW&K Municipal Bond Fund | 1.18% | 5.52% | 0.04% | 6.04% | -7.45% | 4.19% | 4.70% | 7.91% | 0.87% | 4.80% |
MBDFX AMG GW&K Core Bond ESG Fund | 0.17% | 7.29% | 1.24% | 5.73% | -13.85% | -3.34% | 7.33% | 9.70% | -1.11% | 3.88% |
Correlation
The correlation between GWMIX and MBDFX is 0.53, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.53 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.60 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.54 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.51 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2010 | 0.49 |
The correlation between GWMIX and MBDFX shifts across timeframes, from 0.49 (all time) to 0.60 (3 years), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
GWMIX vs. MBDFX — Risk / Return Rank
GWMIX
MBDFX
GWMIX vs. MBDFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for AMG GW&K Municipal Bond Fund (GWMIX) and AMG GW&K Core Bond ESG Fund (MBDFX). 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.
| GWMIX | MBDFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.49 | ||
| Sortino ratioReturn per unit of downside risk | +1.99 | ||
| Omega ratioGain probability vs. loss probability | 1.66 | 1.21 | +0.46 |
| Calmar ratioReturn relative to maximum drawdown | 1.85 | 1.37 | +0.47 |
| Martin ratioReturn relative to average drawdown | 5.59 | 3.73 | +1.86 |
Loading charts...
Drawdowns
GWMIX vs. MBDFX - Drawdown Comparison
The maximum GWMIX drawdown since its inception was -12.27%, smaller than the maximum MBDFX drawdown of -20.66%. Use the drawdown chart below to compare losses from any high point for GWMIX and MBDFX.
Loading charts...
Drawdown Indicators
| GWMIX | MBDFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -12.27% | -20.66% | +8.39% |
Max Drawdown (1Y)Largest decline over 1 year | -3.89% | -3.25% | -0.64% |
Max Drawdown (3Y)Largest decline over 3 years | -5.41% | -6.99% | +1.58% |
Max Drawdown (5Y)Largest decline over 5 years | -12.27% | -20.54% | +8.27% |
Max Drawdown (10Y)Largest decline over 10 years | -12.27% | -20.66% | +8.39% |
Current DrawdownCurrent decline from peak | -1.43% | -4.30% | +2.87% |
Average DrawdownAverage peak-to-trough decline | -1.97% | -3.96% | +1.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.28% | 1.19% | +0.09% |
Volatility
GWMIX vs. MBDFX - Volatility Comparison
The current volatility for AMG GW&K Municipal Bond Fund (GWMIX) is 0.72%, while AMG GW&K Core Bond ESG Fund (MBDFX) has a volatility of 1.19%. This indicates that GWMIX experiences smaller price fluctuations and is considered to be less risky than MBDFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| GWMIX | MBDFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | 1.19% | -0.47% |
Volatility (6M)Calculated over the trailing 6-month period | 2.23% | 2.86% | -0.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.70% | 3.83% | -1.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.13% | 6.16% | -2.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.00% | 5.06% | -1.06% |
GWMIX vs. MBDFX - Expense Ratio Comparison
GWMIX has a 0.39% expense ratio, which is lower than MBDFX's 0.56% expense ratio.
Dividends
GWMIX vs. MBDFX - Dividend Comparison
GWMIX's dividend yield for the trailing twelve months is around 2.71%, less than MBDFX's 3.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GWMIX AMG GW&K Municipal Bond Fund | 2.71% | 2.86% | 2.60% | 2.11% | 1.89% | 5.75% | 1.82% | 2.19% | 1.88% | 1.64% | 3.38% | 3.01% |
MBDFX AMG GW&K Core Bond ESG Fund | 3.46% | 3.66% | 3.50% | 2.92% | 2.16% | 2.35% | 1.84% | 2.40% | 2.30% | 2.10% | 2.06% | 4.17% |
Frequently Asked Questions
GWMIX and MBDFX have a correlation of 0.53, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MBDFX has higher volatility (1.19%) compared to GWMIX (0.72%). In terms of maximum drawdown, GWMIX dropped -12.27% vs MBDFX's -20.66%.
GWMIX currently has the higher Sharpe Ratio (2.66 vs 1.17), 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.
Find the right allocation for GWMIX and MBDFX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer