MACAX vs. MAGKX

Last updated Aug 6, 2026

MACAX (Mutual of America Conservative Allocation Fund) and MAGKX (Mutual of America Small Cap Growth Fund) are both mutual funds - MACAX is a Diversified Portfolio fund managed by Mutual of America, while MAGKX is a Small Cap Growth Equities fund managed by Mutual of America. Over the past 5 years, MACAX returned 3.63%/yr vs 3.97%/yr for MAGKX. Their 0.73 correlation means they have sometimes moved together and sometimes differently. MACAX charges 0.08%/yr vs 0.83%/yr for MAGKX.

Performance

MACAX vs. MAGKX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Mutual of America Conservative Allocation Fund (MACAX) and Mutual of America Small Cap Growth Fund (MAGKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MACAX achieves a 5.82% return, which is significantly lower than MAGKX's 22.50% return.

MACAX

• 1D: 0.90%
• 1M: 0.81%
• 6M: 4.85%
• YTD: 5.82%
• 1Y: 10.77%
• 3Y*: 9.14%
• 5Y*: 3.63%
• 10Y*: —
• ALL TIME*: 51.38%

MAGKX

• 1D: 2.60%
• 1M: -0.06%
• 6M: 18.89%
• YTD: 22.50%
• 1Y: 31.42%
• 3Y*: 14.26%
• 5Y*: 3.97%
• 10Y*: —
• ALL TIME*: 51.99%

*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)
MACAX Mutual of America Conservative Allocation Fund	$0.00	$0.00	$0.00
MAGKX Mutual of America Small Cap Growth Fund	$0.00	$0.00	$0.00

MACAX vs. MAGKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MACAX Mutual of America Conservative Allocation Fund	5.82%	11.09%	6.84%	8.97%	-12.93%	5.77%	897.64%
MAGKX Mutual of America Small Cap Growth Fund	22.50%	8.45%	9.91%	15.22%	-28.37%	9.68%	1,100.68%

Correlation

The correlation between MACAX and MAGKX is 0.75, 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.	0.75
Correlation (3Y) Balances recent behavior with more history.	0.74
Correlation (5Y) Shows whether the relationship held over a longer period.	0.75
Correlation (All Time) Calculated using the full available price history since Jun 26, 2020	0.73

The correlation between MACAX and MAGKX has been stable across timeframes, ranging from 0.73 to 0.75 - a consistent structural relationship.

Return for Risk

MACAX vs. MAGKX — Risk / Return Rank

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

MACAX

MACAX Risk / Return Rank: 69
MACAX Sharpe Ratio Rank: 61
MACAX Sortino Ratio Rank: 72
MACAX Omega Ratio Rank: 63
MACAX Calmar Ratio Rank: 66
MACAX Martin Ratio Rank: 82

MAGKX

MAGKX Risk / Return Rank: 66
MAGKX Sharpe Ratio Rank: 55
MAGKX Sortino Ratio Rank: 59
MAGKX Omega Ratio Rank: 46
MAGKX Calmar Ratio Rank: 88
MAGKX Martin Ratio Rank: 84

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.

MACAX vs. MAGKX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mutual of America Conservative Allocation Fund (MACAX) and Mutual of America Small Cap Growth Fund (MAGKX). 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.

	MACAX	MAGKX	Difference
Sharpe ratio: Return per unit of total volatility	1.77	1.69	+0.08
Sortino ratio: Return per unit of downside risk	2.71	2.49	+0.22
Omega ratio: Gain probability vs. loss probability	1.33	1.29	+0.04
Calmar ratio: Return relative to maximum drawdown	2.55	3.59	-1.04
Martin ratio: Return relative to average drawdown	11.64	12.05	-0.41

MACAX vs. MAGKX - Sharpe Ratio Comparison

The current MACAX Sharpe Ratio is 1.77, which is comparable to the MAGKX Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of MACAX and MAGKX, 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

MACAX vs. MAGKX - Drawdown Comparison

The maximum MACAX drawdown since its inception was -17.36%, smaller than the maximum MAGKX drawdown of -41.67%. Use the drawdown chart below to compare losses from any high point for MACAX and MAGKX.

Drawdown Indicators

	MACAX	MAGKX	Difference
Max Drawdown Largest peak-to-trough decline	-17.36%	-41.67%	+24.31%
Max Drawdown (1Y) Largest decline over 1 year	-4.63%	-9.81%	+5.18%
Max Drawdown (3Y) Largest decline over 3 years	-6.38%	-24.90%	+18.52%
Max Drawdown (5Y) Largest decline over 5 years	-17.36%	-41.67%	+24.31%
Current Drawdown Current decline from peak	0.00%	-2.16%	+2.16%
Average Drawdown Average peak-to-trough decline	-4.17%	-19.39%	+15.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.97%	2.80%	-1.83%

Volatility

MACAX vs. MAGKX - Volatility Comparison

The current volatility for Mutual of America Conservative Allocation Fund (MACAX) is 2.04%, while Mutual of America Small Cap Growth Fund (MAGKX) has a volatility of 6.36%. This indicates that MACAX experiences smaller price fluctuations and is considered to be less risky than MAGKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MACAX	MAGKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.04%	6.36%	-4.32%
Volatility (6M) Calculated over the trailing 6-month period	5.43%	15.71%	-10.28%
Volatility (1Y) Calculated over the trailing 1-year period	6.70%	20.95%	-14.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.91%	27.73%	-18.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	389.09%	380.32%	+8.77%

MACAX vs. MAGKX - Expense Ratio Comparison

MACAX has a 0.08% expense ratio, which is lower than MAGKX's 0.83% expense ratio.

Dividends

MACAX vs. MAGKX - Dividend Comparison

MACAX's dividend yield for the trailing twelve months is around 6.78%, more than MAGKX's 0.77% yield.

Position	TTM	2025	2024	2023	2022	2021
MACAX Mutual of America Conservative Allocation Fund	6.78%	7.19%	4.33%	1.83%	7.35%	4.06%
MAGKX Mutual of America Small Cap Growth Fund	0.77%	0.94%	1.62%	0.00%	5.47%	17.84%

Frequently Asked Questions

Can I hold both MACAX and MAGKX in my portfolio?

MACAX and MAGKX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MACAX or MAGKX?

MAGKX has higher volatility (6.36%) compared to MACAX (2.04%). In terms of maximum drawdown, MACAX dropped -17.36% vs MAGKX's -41.67%.

Which has better risk-adjusted returns?

MACAX currently has the higher Sharpe Ratio (1.77 vs 1.69), 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.