MCFTX vs. V

Last updated Jun 4, 2026

MCFTX (MFS California Municipal Bond Fund) is Municipal Bonds fund managed by MFS, while V (Visa Inc.) is a stock. Over the past 10 years, MCFTX returned 2.10%/yr vs 15.41%/yr for V. At a correlation of -0.06, they often move in opposite directions.

Performance

MCFTX vs. V - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS California Municipal Bond Fund (MCFTX) and Visa Inc. (V). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MCFTX achieves a 2.06% return, which is significantly higher than V's -10.55% return. Over the past 10 years, MCFTX has underperformed V with an annualized return of 2.10%, while V has yielded a comparatively higher 15.41% annualized return.

MCFTX

• 1D: 0.18%
• 1M: 1.04%
• YTD: 2.06%
• 6M: 2.37%
• 1Y: 8.35%
• 3Y*: 4.10%
• 5Y*: 0.46%
• 10Y*: 2.10%

V

• 1D: -1.55%
• 1M: -4.22%
• YTD: -10.55%
• 6M: -4.83%
• 1Y: -13.94%
• 3Y*: 11.79%
• 5Y*: 7.10%
• 10Y*: 15.41%

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

MCFTX vs. V - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MCFTX MFS California Municipal Bond Fund	2.06%	4.06%	2.46%	6.33%	-12.26%	2.95%	4.02%	8.58%	0.96%	6.17%
V Visa Inc.	-10.55%	11.76%	22.32%	26.31%	-3.40%	-0.31%	17.12%	43.33%	16.49%	47.18%

Correlation

The correlation between MCFTX and V is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.12
Correlation (3Y) Calculated over the trailing 3-year period	0.09
Correlation (5Y) Calculated over the trailing 5-year period	0.08
Correlation (10Y) Calculated over the trailing 10-year period	0.03
Correlation (All Time) Calculated using the full available price history since Mar 20, 2008	-0.06

The correlation between MCFTX and V shifts across timeframes, from -0.06 (all time) to 0.12 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MCFTX vs. V — Risk / Return Rank

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

MCFTX

MCFTX Risk / Return Rank: 60
MCFTX Sharpe Ratio Rank: 61
MCFTX Sortino Ratio Rank: 73
MCFTX Omega Ratio Rank: 84
MCFTX Calmar Ratio Rank: 42
MCFTX Martin Ratio Rank: 41

V

V Risk / Return Rank: 14
V Sharpe Ratio Rank: 14
V Sortino Ratio Rank: 14
V Omega Ratio Rank: 14
V Calmar Ratio Rank: 15
V 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.

MCFTX vs. V - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS California Municipal Bond Fund (MCFTX) and Visa Inc. (V). 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.

	MCFTX	V	Difference
Sharpe ratio: Return per unit of total volatility	2.31	-0.63	+2.95
Sortino ratio: Return per unit of downside risk	3.58	-0.79	+4.38
Omega ratio: Gain probability vs. loss probability	1.57	0.90	+0.67
Calmar ratio: Return relative to maximum drawdown	2.48	-0.69	+3.17
Martin ratio: Return relative to average drawdown	8.73	-1.28	+10.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MCFTX vs. V - Sharpe Ratio Comparison

The current MCFTX Sharpe Ratio is 2.31, which is higher than the V Sharpe Ratio of -0.63. The chart below compares the historical Sharpe Ratios of MCFTX and V, 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

	MCFTX	V	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.31	-0.63	+2.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.09	0.31	-0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	0.63	-0.19
Sharpe Ratio (All Time) Calculated using the full available price history	1.04	0.68	+0.36

Drawdowns

MCFTX vs. V - Drawdown Comparison

The maximum MCFTX drawdown since its inception was -18.59%, smaller than the maximum V drawdown of -51.90%. Use the drawdown chart below to compare losses from any high point for MCFTX and V.

Drawdown Indicators

	MCFTX	V	Difference
Max Drawdown Largest peak-to-trough decline	-18.59%	-51.90%	+33.31%
Max Drawdown (1Y) Largest decline over 1 year	-3.38%	-20.38%	+17.00%
Max Drawdown (3Y) Largest decline over 3 years	-7.05%	-20.38%	+13.33%
Max Drawdown (5Y) Largest decline over 5 years	-18.46%	-28.60%	+10.14%
Max Drawdown (10Y) Largest decline over 10 years	-18.46%	-36.36%	+17.90%
Current Drawdown Current decline from peak	-0.15%	-15.66%	+15.51%
Average Drawdown Average peak-to-trough decline	-2.69%	-8.26%	+5.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	10.94%	-9.98%

Volatility

MCFTX vs. V - Volatility Comparison

The current volatility for MFS California Municipal Bond Fund (MCFTX) is 1.44%, while Visa Inc. (V) has a volatility of 5.20%. This indicates that MCFTX experiences smaller price fluctuations and is considered to be less risky than V based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MCFTX	V	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.44%	5.20%	-3.76%
Volatility (6M) Calculated over the trailing 6-month period	2.68%	17.26%	-14.58%
Volatility (1Y) Calculated over the trailing 1-year period	3.65%	22.11%	-18.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.90%	22.77%	-17.87%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.74%	24.45%	-19.71%

Dividends

MCFTX vs. V - Dividend Comparison

MCFTX's dividend yield for the trailing twelve months is around 3.54%, more than V's 0.83% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MCFTX MFS California Municipal Bond Fund	3.54%	4.63%	3.15%	2.81%	2.17%	2.27%	2.60%	3.23%	3.47%	3.62%	3.59%	3.92%
V Visa Inc.	0.83%	0.70%	0.68%	0.72%	0.76%	0.62%	0.56%	0.56%	0.67%	0.61%	0.75%	0.64%

Frequently Asked Questions

Can I hold both MCFTX and V in my portfolio?

MCFTX and V have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MCFTX or V?

V has higher volatility (5.20%) compared to MCFTX (1.44%). In terms of maximum drawdown, MCFTX dropped -18.59% vs V's -51.90%.

Which has better risk-adjusted returns?

MCFTX currently has the higher Sharpe Ratio (2.31 vs -0.63), 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.