MACAX vs. MAVKX

Last updated Jun 4, 2026

MACAX (Mutual of America Conservative Allocation Fund) and MAVKX (Mutual of America Small Cap Value Fund) are both mutual funds - MACAX is a Diversified Portfolio fund managed by Mutual of America, while MAVKX is a Small Cap Value Equities fund managed by Mutual of America. Over the past 5 years, MACAX returned 3.76%/yr vs 4.84%/yr for MAVKX. A 0.68 correlation means they provide meaningful diversification when combined. MACAX charges 0.08%/yr vs 0.82%/yr for MAVKX.

Performance

MACAX vs. MAVKX - 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 Value Fund (MAVKX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MACAX achieves a 4.90% return, which is significantly lower than MAVKX's 13.92% return.

MACAX

• 1D: 0.16%
• 1M: 2.48%
• YTD: 4.90%
• 6M: 5.14%
• 1Y: 13.17%
• 3Y*: 9.09%
• 5Y*: 3.76%
• 10Y*: —

MAVKX

• 1D: 1.13%
• 1M: 3.15%
• YTD: 13.92%
• 6M: 11.97%
• 1Y: 24.21%
• 3Y*: 11.30%
• 5Y*: 4.84%
• 10Y*: —

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

MACAX vs. MAVKX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MACAX Mutual of America Conservative Allocation Fund	4.90%	11.09%	6.84%	8.97%	-12.93%	5.77%	897.64%
MAVKX Mutual of America Small Cap Value Fund	13.92%	2.04%	10.56%	7.14%	-9.93%	31.43%	1,157.01%

Correlation

The correlation between MACAX and MAVKX is 0.70, 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	0.70
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jun 29, 2020	0.68

The correlation between MACAX and MAVKX has been stable across timeframes, ranging from 0.67 to 0.70 - a consistent structural relationship.

Return for Risk

MACAX vs. MAVKX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MACAX

MACAX Risk / Return Rank: 78
MACAX Sharpe Ratio Rank: 77
MACAX Sortino Ratio Rank: 84
MACAX Omega Ratio Rank: 77
MACAX Calmar Ratio Rank: 69
MACAX Martin Ratio Rank: 83

MAVKX

MAVKX Risk / Return Rank: 46
MAVKX Sharpe Ratio Rank: 37
MAVKX Sortino Ratio Rank: 38
MAVKX Omega Ratio Rank: 34
MAVKX Calmar Ratio Rank: 66
MAVKX Martin Ratio Rank: 53

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MACAX vs. MAVKX - 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 Value Fund (MAVKX). 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.

	MACAX	MAVKX	Difference
Sharpe ratio: Return per unit of total volatility	2.55	1.77	+0.78
Sortino ratio: Return per unit of downside risk	3.96	2.60	+1.36
Omega ratio: Gain probability vs. loss probability	1.50	1.31	+0.19
Calmar ratio: Return relative to maximum drawdown	3.23	3.15	+0.08
Martin ratio: Return relative to average drawdown	15.64	10.85	+4.79
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MACAX vs. MAVKX - Sharpe Ratio Comparison

The current MACAX Sharpe Ratio is 2.55, which is higher than the MAVKX Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of MACAX and MAVKX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MACAX	MAVKX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.55	1.77	+0.78
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.25	+0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.16	0.00

Drawdowns

MACAX vs. MAVKX - Drawdown Comparison

The maximum MACAX drawdown since its inception was -17.36%, smaller than the maximum MAVKX drawdown of -44.74%. Use the drawdown chart below to compare losses from any high point for MACAX and MAVKX.

Drawdown Indicators

	MACAX	MAVKX	Difference
Max Drawdown Largest peak-to-trough decline	-17.36%	-44.74%	+27.38%
Max Drawdown (1Y) Largest decline over 1 year	-4.63%	-9.34%	+4.71%
Max Drawdown (3Y) Largest decline over 3 years	-6.65%	-25.00%	+18.35%
Max Drawdown (5Y) Largest decline over 5 years	-17.36%	-25.00%	+7.64%
Current Drawdown Current decline from peak	0.00%	-0.31%	+0.31%
Average Drawdown Average peak-to-trough decline	-4.29%	-9.07%	+4.78%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.91%	2.65%	-1.74%

Volatility

MACAX vs. MAVKX - Volatility Comparison

The current volatility for Mutual of America Conservative Allocation Fund (MACAX) is 1.97%, while Mutual of America Small Cap Value Fund (MAVKX) has a volatility of 4.55%. This indicates that MACAX experiences smaller price fluctuations and is considered to be less risky than MAVKX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MACAX	MAVKX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.97%	4.55%	-2.58%
Volatility (6M) Calculated over the trailing 6-month period	4.86%	11.72%	-6.86%
Volatility (1Y) Calculated over the trailing 1-year period	5.86%	16.62%	-10.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.82%	21.71%	-12.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	395.52%	382.55%	+12.97%

MACAX vs. MAVKX - Expense Ratio Comparison

MACAX has a 0.08% expense ratio, which is lower than MAVKX's 0.82% expense ratio.

Dividends

MACAX vs. MAVKX - Dividend Comparison

MACAX's dividend yield for the trailing twelve months is around 6.86%, more than MAVKX's 4.51% yield.

Position	TTM	2025	2024	2023	2022	2021
MACAX Mutual of America Conservative Allocation Fund	6.86%	7.19%	4.33%	1.83%	7.35%	4.06%
MAVKX Mutual of America Small Cap Value Fund	4.51%	5.14%	5.56%	4.59%	10.13%	6.98%

Frequently Asked Questions

Can I hold both MACAX and MAVKX in my portfolio?

MACAX and MAVKX have a correlation of 0.70, 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 MAVKX?

MAVKX has higher volatility (4.55%) compared to MACAX (1.97%). In terms of maximum drawdown, MACAX dropped -17.36% vs MAVKX's -44.74%.

Which has better risk-adjusted returns?

MACAX currently has the higher Sharpe Ratio (2.55 vs 1.77), 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.