MAVKX vs. MACAX

Last updated Jun 23, 2026

MAVKX (Mutual of America Small Cap Value Fund) and MACAX (Mutual of America Conservative Allocation Fund) are both mutual funds - MAVKX is a Small Cap Value Equities fund managed by Mutual of America, while MACAX is a Diversified Portfolio fund managed by Mutual of America. Over the past 5 years, MAVKX returned 5.46%/yr vs 3.70%/yr for MACAX. A 0.68 correlation means they provide meaningful diversification when combined. MAVKX charges 0.82%/yr vs 0.08%/yr for MACAX.

Performance

MAVKX vs. MACAX - Performance Comparison

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

Returns By Period

In the year-to-date period, MAVKX achieves a 17.05% return, which is significantly higher than MACAX's 4.56% return.

MAVKX

• 1D: 1.17%
• 1M: 3.65%
• YTD: 17.05%
• 6M: 13.81%
• 1Y: 27.71%
• 3Y*: 11.16%
• 5Y*: 5.46%
• 10Y*: —

MACAX

• 1D: 0.57%
• 1M: 0.81%
• YTD: 4.56%
• 6M: 4.39%
• 1Y: 12.42%
• 3Y*: 8.87%
• 5Y*: 3.70%
• 10Y*: —

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

MAVKX vs. MACAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MAVKX Mutual of America Small Cap Value Fund	17.05%	2.04%	10.56%	7.14%	-9.93%	31.43%	1,133.94%
MACAX Mutual of America Conservative Allocation Fund	4.56%	11.09%	6.84%	8.97%	-12.93%	5.77%	897.64%

Correlation

The correlation between MAVKX and MACAX is 0.73, 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	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.68
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jun 26, 2020	0.68

The correlation between MAVKX and MACAX has been stable across timeframes, ranging from 0.68 to 0.73 - a consistent structural relationship.

Return for Risk

MAVKX vs. MACAX — Risk / Return Rank

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

MAVKX

MAVKX Risk / Return Rank: 56
MAVKX Sharpe Ratio Rank: 47
MAVKX Sortino Ratio Rank: 51
MAVKX Omega Ratio Rank: 42
MAVKX Calmar Ratio Rank: 77
MAVKX Martin Ratio Rank: 63

MACAX

MACAX Risk / Return Rank: 74
MACAX Sharpe Ratio Rank: 70
MACAX Sortino Ratio Rank: 79
MACAX Omega Ratio Rank: 73
MACAX Calmar Ratio Rank: 66
MACAX Martin Ratio Rank: 82

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.

MAVKX vs. MACAX - Risk-Adjusted Trends Comparison

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

	MAVKX	MACAX	Difference
Sharpe ratio: Return per unit of total volatility	1.87	2.24	-0.37
Sortino ratio: Return per unit of downside risk	2.75	3.43	-0.68
Omega ratio: Gain probability vs. loss probability	1.32	1.44	-0.11
Calmar ratio: Return relative to maximum drawdown	3.32	3.00	+0.32
Martin ratio: Return relative to average drawdown	11.56	14.17	-2.61

MAVKX vs. MACAX - Sharpe Ratio Comparison

The current MAVKX Sharpe Ratio is 1.87, which is comparable to the MACAX Sharpe Ratio of 2.24. The chart below compares the historical Sharpe Ratios of MAVKX and MACAX, 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

MAVKX vs. MACAX - Drawdown Comparison

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

Drawdown Indicators

	MAVKX	MACAX	Difference
Max Drawdown Largest peak-to-trough decline	-44.74%	-17.36%	-27.38%
Max Drawdown (1Y) Largest decline over 1 year	-9.34%	-4.63%	-4.71%
Max Drawdown (3Y) Largest decline over 3 years	-25.00%	-6.65%	-18.35%
Max Drawdown (5Y) Largest decline over 5 years	-25.00%	-17.36%	-7.64%
Current Drawdown Current decline from peak	0.00%	-0.32%	+0.32%
Average Drawdown Average peak-to-trough decline	-8.99%	-4.25%	-4.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	0.94%	+1.71%

Volatility

MAVKX vs. MACAX - Volatility Comparison

Mutual of America Small Cap Value Fund (MAVKX) has a higher volatility of 4.16% compared to Mutual of America Conservative Allocation Fund (MACAX) at 2.38%. This indicates that MAVKX's price experiences larger fluctuations and is considered to be riskier than MACAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MAVKX	MACAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.16%	2.38%	+1.78%
Volatility (6M) Calculated over the trailing 6-month period	11.78%	5.14%	+6.64%
Volatility (1Y) Calculated over the trailing 1-year period	16.59%	6.19%	+10.40%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.73%	8.86%	+12.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	380.84%	393.59%	-12.75%

MAVKX vs. MACAX - Expense Ratio Comparison

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

Dividends

MAVKX vs. MACAX - Dividend Comparison

MAVKX's dividend yield for the trailing twelve months is around 4.39%, less than MACAX's 6.88% yield.

Position	TTM	2025	2024	2023	2022	2021
MACAX Mutual of America Conservative Allocation Fund	6.88%	7.19%	4.33%	1.83%	7.35%	4.06%
MAVKX Mutual of America Small Cap Value Fund	4.39%	5.14%	5.56%	4.59%	10.13%	6.98%

Frequently Asked Questions

Can I hold both MAVKX and MACAX in my portfolio?

MAVKX and MACAX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MAVKX or MACAX?

MAVKX has higher volatility (4.16%) compared to MACAX (2.38%). In terms of maximum drawdown, MAVKX dropped -44.74% vs MACAX's -17.36%.

Which has better risk-adjusted returns?

MACAX currently has the higher Sharpe Ratio (2.24 vs 1.87), 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.