MCFIX vs. EINFX
MCFIX (Mercer Core Fixed Income Fund) and EINFX (Elfun Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, MCFIX returned -0.77%/yr vs -1.29%/yr for EINFX. Their correlation of 0.91 means they have usually moved in the same direction. MCFIX charges 0.16%/yr vs 0.29%/yr for EINFX.
Performance
MCFIX vs. EINFX - Performance Comparison
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Returns By Period
In the year-to-date period, MCFIX achieves a -2.67% return, which is significantly lower than EINFX's -1.31% return.
MCFIX
- 1D
- -0.23%
- 1M
- -1.47%
- 6M
- -2.34%
- YTD
- -2.67%
- 1Y
- -0.19%
- 3Y*
- 3.37%
- 5Y*
- -0.77%
- 10Y*
- —
- ALL TIME*
- 0.56%
EINFX
- 1D
- -0.32%
- 1M
- -1.45%
- 6M
- -1.39%
- YTD
- -1.31%
- 1Y
- 1.10%
- 3Y*
- 2.76%
- 5Y*
- -1.29%
- 10Y*
- 1.06%
- ALL TIME*
- 3.70%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
EINFX Elfun Income Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
MCFIX vs. EINFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
MCFIX Mercer Core Fixed Income Fund | -2.67% | 6.64% | 2.02% | 6.47% | -13.69% | -1.05% | 4.75% | 3.31% |
EINFX Elfun Income Fund | -1.31% | 7.35% | -0.73% | 4.75% | -13.82% | -1.57% | 7.81% | 6.01% |
Correlation
The correlation between MCFIX and EINFX is 0.87, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.87 |
Correlation (3Y) Balances recent behavior with more history. | 0.89 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.93 |
Correlation (All Time) Calculated using the full available price history since Apr 12, 2019 | 0.91 |
The correlation between MCFIX and EINFX has been stable across timeframes, ranging from 0.87 to 0.93 - a consistent structural relationship.
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Return for Risk
MCFIX vs. EINFX — Risk / Return Rank
MCFIX
EINFX
MCFIX vs. EINFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Mercer Core Fixed Income Fund (MCFIX) and Elfun Income Fund (EINFX). 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.
| MCFIX | EINFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.56 | ||
| Sortino ratioReturn per unit of downside risk | -0.81 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 1.09 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | 0.60 | -0.66 |
| Martin ratioReturn relative to average drawdown | -0.12 | 1.45 | -1.57 |
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Drawdowns
MCFIX vs. EINFX - Drawdown Comparison
The maximum MCFIX drawdown since its inception was -21.68%, which is greater than EINFX's maximum drawdown of -19.78%. Use the drawdown chart below to compare losses from any high point for MCFIX and EINFX.
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Drawdown Indicators
| MCFIX | EINFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.68% | -19.78% | -1.90% |
Max Drawdown (1Y)Largest decline over 1 year | -4.08% | -3.40% | -0.68% |
Max Drawdown (3Y)Largest decline over 3 years | -5.27% | -6.96% | +1.69% |
Max Drawdown (5Y)Largest decline over 5 years | -18.64% | -19.72% | +1.08% |
Max Drawdown (10Y)Largest decline over 10 years | — | -19.78% | — |
Current DrawdownCurrent decline from peak | -7.57% | -6.54% | -1.03% |
Average DrawdownAverage peak-to-trough decline | -8.49% | -3.58% | -4.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.74% | 1.41% | +0.33% |
Volatility
MCFIX vs. EINFX - Volatility Comparison
Mercer Core Fixed Income Fund (MCFIX) has a higher volatility of 1.04% compared to Elfun Income Fund (EINFX) at 0.97%. This indicates that MCFIX's price experiences larger fluctuations and is considered to be riskier than EINFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCFIX | EINFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.04% | 0.97% | +0.07% |
Volatility (6M)Calculated over the trailing 6-month period | 2.94% | 3.13% | -0.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.01% | 4.03% | -0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.05% | 6.51% | -0.46% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.07% | 5.24% | +0.83% |
MCFIX vs. EINFX - Expense Ratio Comparison
MCFIX has a 0.16% expense ratio, which is lower than EINFX's 0.29% expense ratio.
Dividends
MCFIX vs. EINFX - Dividend Comparison
MCFIX's dividend yield for the trailing twelve months is around 4.38%, more than EINFX's 3.58% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EINFX Elfun Income Fund | 3.58% | 3.84% | 3.04% | 2.76% | 4.09% | 3.31% | 3.15% | 2.78% | 2.88% | 2.42% | 3.34% | 2.87% |
MCFIX Mercer Core Fixed Income Fund | 4.38% | 3.89% | 4.54% | 3.68% | 3.31% | 2.45% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MCFIX and EINFX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MCFIX has higher volatility (1.04%) compared to EINFX (0.97%). In terms of maximum drawdown, MCFIX dropped -21.68% vs EINFX's -19.78%.
EINFX currently has the higher Sharpe Ratio (0.51 vs -0.05), 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.
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