MCBDX vs. MOGAX

Last updated Jun 5, 2026

MCBDX (MassMutual Core Bond Fund) and MOGAX (MassMutual 60/40 Allocation Fund) are both mutual funds - MCBDX is a Intermediate Core Bond fund managed by MassMutual, while MOGAX is a Diversified Portfolio fund managed by MassMutual. At a 0.01 correlation, their price movements are largely independent. MCBDX charges 0.52%/yr vs 0.61%/yr for MOGAX.

Performance

MCBDX vs. MOGAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MassMutual Core Bond Fund (MCBDX) and MassMutual 60/40 Allocation Fund (MOGAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MCBDX

• 1D: -0.11%
• 1M: 0.35%
• YTD: 0.74%
• 6M: 1.03%
• 1Y: 6.06%
• 3Y*: 4.86%
• 5Y*: 6.67%
• 10Y*: 5.39%

MOGAX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MCBDX vs. MOGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MCBDX MassMutual Core Bond Fund	0.74%	8.03%	1.13%	6.64%	-15.29%	38.26%	8.42%	9.62%	-0.48%	4.60%
MOGAX MassMutual 60/40 Allocation Fund	0.00%	10.54%	8.82%	14.26%	-22.35%	13.74%	12.03%	24.58%	-8.02%	14.54%

Correlation

The correlation between MCBDX and MOGAX is 0.24, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.24
Correlation (3Y) Calculated over the trailing 3-year period	0.45
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (10Y) Calculated over the trailing 10-year period	0.15
Correlation (All Time) Calculated using the full available price history since Jun 21, 2011	0.01

Over the past year, MCBDX and MOGAX have become more correlated (0.24) than their long-term average of 0.01, meaning their price movements have been converging.

Return for Risk

MCBDX vs. MOGAX — Risk / Return Rank

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

MCBDX

MCBDX Risk / Return Rank: 38
MCBDX Sharpe Ratio Rank: 37
MCBDX Sortino Ratio Rank: 41
MCBDX Omega Ratio Rank: 37
MCBDX Calmar Ratio Rank: 39
MCBDX Martin Ratio Rank: 36

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.

MCBDX vs. MOGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MassMutual Core Bond Fund (MCBDX) and MassMutual 60/40 Allocation Fund (MOGAX). 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.

	MCBDX	MOGAX	Difference
Sharpe ratio: Return per unit of total volatility	1.73	—	—
Sortino ratio: Return per unit of downside risk	2.64	—	—
Omega ratio: Gain probability vs. loss probability	1.32	—	—
Calmar ratio: Return relative to maximum drawdown	2.32	—	—
Martin ratio: Return relative to average drawdown	7.79	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MCBDX	MOGAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.73	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.33	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	—	—

Drawdowns

Drawdown Indicators

	MCBDX	MOGAX	Difference
Max Drawdown Largest peak-to-trough decline	-22.01%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-2.87%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-5.34%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-22.01%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-22.01%	—	—
Current Drawdown Current decline from peak	-4.25%	—	—
Average Drawdown Average peak-to-trough decline	-3.53%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	—	—

Volatility

Volatility by Period

	MCBDX	MOGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.35%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.77%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.87%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.10%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.44%	—	—

MCBDX vs. MOGAX - Expense Ratio Comparison

MCBDX has a 0.52% expense ratio, which is lower than MOGAX's 0.61% expense ratio.

Dividends

MCBDX vs. MOGAX - Dividend Comparison

MCBDX's dividend yield for the trailing twelve months is around 4.48%, more than MOGAX's 3.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MCBDX MassMutual Core Bond Fund	4.48%	4.50%	1.93%	4.62%	3.83%	31.12%	5.98%	3.35%	3.32%	2.96%	3.29%	1.43%
MOGAX MassMutual 60/40 Allocation Fund	3.65%	3.65%	6.23%	3.93%	1.84%	13.14%	3.65%	13.70%	15.46%	1.02%	1.55%	3.52%

Frequently Asked Questions

Can I hold both MCBDX and MOGAX in my portfolio?

MCBDX and MOGAX have a correlation of 0.24, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.