MAMEX vs. GWSAX

Last updated Apr 1, 2026

Compare and contrast key facts about Mutual of America Mid-Cap Equity Index Fund (MAMEX) and Gabelli Focused Growth and Income Fund (GWSAX).

MAMEX is managed by Mutual of America. It was launched on Nov 29, 2021. GWSAX is managed by Gabelli. It was launched on Dec 31, 2002.

Performance

MAMEX vs. GWSAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Mutual of America Mid-Cap Equity Index Fund (MAMEX) and Gabelli Focused Growth and Income Fund (GWSAX). The values are adjusted to include any dividend payments, if applicable.

MAMEX vs. GWSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MAMEX Mutual of America Mid-Cap Equity Index Fund	-0.45%	7.40%	13.08%	13.99%	-13.59%	23.35%	925.33%
GWSAX Gabelli Focused Growth and Income Fund	5.16%	2.11%	13.19%	11.90%	-13.71%	27.12%	8.30%

Returns By Period

In the year-to-date period, MAMEX achieves a -0.45% return, which is significantly lower than GWSAX's 5.16% return.

MAMEX

• 1D: -2.44%
• 1M: -8.80%
• YTD: -0.45%
• 6M: 1.26%
• 1Y: 13.94%
• 3Y*: 10.08%
• 5Y*: 5.30%
• 10Y*: —

GWSAX

• 1D: 0.34%
• 1M: -2.74%
• YTD: 5.16%
• 6M: 5.55%
• 1Y: 5.47%
• 3Y*: 10.31%
• 5Y*: 6.27%
• 10Y*: 6.00%

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

MAMEX vs. GWSAX - Expense Ratio Comparison

MAMEX has a 0.16% expense ratio, which is lower than GWSAX's 1.25% expense ratio.

GWSAX

Gabelli Focused Growth and Income Fund

MAMEX

Mutual of America Mid-Cap Equity Index Fund

Return for Risk

MAMEX vs. GWSAX — Risk / Return Rank

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

MAMEX

MAMEX Risk / Return Rank: 24
MAMEX Sharpe Ratio Rank: 29
MAMEX Sortino Ratio Rank: 33
MAMEX Omega Ratio Rank: 31
MAMEX Calmar Ratio Rank: 13
MAMEX Martin Ratio Rank: 14

GWSAX

GWSAX Risk / Return Rank: 12
GWSAX Sharpe Ratio Rank: 13
GWSAX Sortino Ratio Rank: 12
GWSAX Omega Ratio Rank: 14
GWSAX Calmar Ratio Rank: 11
GWSAX Martin Ratio Rank: 11

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.

MAMEX vs. GWSAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mutual of America Mid-Cap Equity Index Fund (MAMEX) and Gabelli Focused Growth and Income Fund (GWSAX). 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.

	MAMEX	GWSAX	Difference
Sharpe ratio Return per unit of total volatility	0.72	0.34	+0.38
Sortino ratio Return per unit of downside risk	1.18	0.54	+0.64
Omega ratio Gain probability vs. loss probability	1.16	1.09	+0.08
Calmar ratio Return relative to maximum drawdown	0.35	0.28	+0.07
Martin ratio Return relative to average drawdown	1.45	0.88	+0.57
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MAMEX vs. GWSAX - Sharpe Ratio Comparison

The current MAMEX Sharpe Ratio is 0.72, which is higher than the GWSAX Sharpe Ratio of 0.34. The chart below compares the historical Sharpe Ratios of MAMEX and GWSAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MAMEX	GWSAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.72	0.34	+0.38
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.27	0.41	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.30	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.34	-0.18

Correlation

The correlation between MAMEX and GWSAX is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MAMEX vs. GWSAX - Dividend Comparison

MAMEX's dividend yield for the trailing twelve months is around 11.90%, more than GWSAX's 4.96% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
MAMEX Mutual of America Mid-Cap Equity Index Fund	11.90%	11.85%	9.07%	7.67%	14.01%	12.96%	0.00%	0.00%	0.00%	0.00%	0.00%
GWSAX Gabelli Focused Growth and Income Fund	4.96%	5.11%	4.39%	4.57%	5.00%	3.90%	0.00%	0.00%	0.09%	0.49%	1.16%

Drawdowns

MAMEX vs. GWSAX - Drawdown Comparison

The maximum MAMEX drawdown since its inception was -42.17%, smaller than the maximum GWSAX drawdown of -55.75%. Use the drawdown chart below to compare losses from any high point for MAMEX and GWSAX.

Drawdown Indicators

	MAMEX	GWSAX	Difference
Max Drawdown Largest peak-to-trough decline	-42.17%	-55.75%	+13.58%
Max Drawdown (1Y) Largest decline over 1 year	-14.16%	-13.17%	-0.99%
Max Drawdown (5Y) Largest decline over 5 years	-24.39%	-18.91%	-5.48%
Max Drawdown (10Y) Largest decline over 10 years	—	-50.67%	—
Current Drawdown Current decline from peak	-8.84%	-3.58%	-5.26%
Average Drawdown Average peak-to-trough decline	-7.68%	-9.32%	+1.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.14%	4.42%	-0.28%

Volatility

MAMEX vs. GWSAX - Volatility Comparison

Mutual of America Mid-Cap Equity Index Fund (MAMEX) has a higher volatility of 4.62% compared to Gabelli Focused Growth and Income Fund (GWSAX) at 3.12%. This indicates that MAMEX's price experiences larger fluctuations and is considered to be riskier than GWSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAMEX	GWSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.62%	3.12%	+1.50%
Volatility (6M) Calculated over the trailing 6-month period	11.83%	7.14%	+4.69%
Volatility (1Y) Calculated over the trailing 1-year period	21.79%	16.10%	+5.69%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.02%	15.43%	+6.59%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	389.19%	20.06%	+369.13%