MCSFX vs. VCMDX

Last updated Jun 4, 2026

MCSFX (MFS Commodity Strategy Fund) and VCMDX (Vanguard Commodity Strategy Fund Admiral Shares) are both Commodities funds. Over the past 5 years, MCSFX returned 10.77%/yr vs 12.17%/yr for VCMDX. With a 0.97 correlation, they move nearly in lockstep. MCSFX charges 1.89%/yr vs 0.20%/yr for VCMDX.

Performance

MCSFX vs. VCMDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Commodity Strategy Fund (MCSFX) and Vanguard Commodity Strategy Fund Admiral Shares (VCMDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MCSFX achieves a 24.44% return, which is significantly higher than VCMDX's 22.84% return.

MCSFX

• 1D: 0.45%
• 1M: -2.18%
• YTD: 24.44%
• 6M: 24.59%
• 1Y: 38.29%
• 3Y*: 16.16%
• 5Y*: 10.77%
• 10Y*: —

VCMDX

• 1D: 0.35%
• 1M: -2.11%
• YTD: 22.84%
• 6M: 22.83%
• 1Y: 35.30%
• 3Y*: 15.74%
• 5Y*: 12.17%
• 10Y*: —

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

MCSFX vs. VCMDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
MCSFX MFS Commodity Strategy Fund	24.44%	17.09%	4.32%	-7.25%	12.27%	26.40%	-1.34%	1.08%
VCMDX Vanguard Commodity Strategy Fund Admiral Shares	22.84%	18.20%	5.27%	-7.45%	13.83%	34.82%	5.07%	2.74%

Correlation

The correlation between MCSFX and VCMDX is 0.98 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.98
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (All Time) Calculated using the full available price history since Jun 27, 2019	0.97

The correlation between MCSFX and VCMDX has been stable across timeframes, ranging from 0.97 to 0.98 - a consistent structural relationship.

Return for Risk

MCSFX vs. VCMDX — Risk / Return Rank

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

MCSFX

MCSFX Risk / Return Rank: 72
MCSFX Sharpe Ratio Rank: 71
MCSFX Sortino Ratio Rank: 54
MCSFX Omega Ratio Rank: 63
MCSFX Calmar Ratio Rank: 91
MCSFX Martin Ratio Rank: 80

VCMDX

VCMDX Risk / Return Rank: 70
VCMDX Sharpe Ratio Rank: 68
VCMDX Sortino Ratio Rank: 53
VCMDX Omega Ratio Rank: 59
VCMDX Calmar Ratio Rank: 92
VCMDX Martin Ratio Rank: 80

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.

MCSFX vs. VCMDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Commodity Strategy Fund (MCSFX) and Vanguard Commodity Strategy Fund Admiral Shares (VCMDX). 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.

	MCSFX	VCMDX	Difference
Sharpe ratio: Return per unit of total volatility	2.47	2.41	+0.06
Sortino ratio: Return per unit of downside risk	3.10	3.06	+0.05
Omega ratio: Gain probability vs. loss probability	1.44	1.43	+0.02
Calmar ratio: Return relative to maximum drawdown	4.74	4.92	-0.18
Martin ratio: Return relative to average drawdown	14.99	15.03	-0.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MCSFX vs. VCMDX - Sharpe Ratio Comparison

The current MCSFX Sharpe Ratio is 2.47, which is comparable to the VCMDX Sharpe Ratio of 2.41. The chart below compares the historical Sharpe Ratios of MCSFX and VCMDX, 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

	MCSFX	VCMDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.47	2.41	+0.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.77	-0.46
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.85	-0.53

Drawdowns

MCSFX vs. VCMDX - Drawdown Comparison

The maximum MCSFX drawdown since its inception was -37.16%, which is greater than VCMDX's maximum drawdown of -26.67%. Use the drawdown chart below to compare losses from any high point for MCSFX and VCMDX.

Drawdown Indicators

	MCSFX	VCMDX	Difference
Max Drawdown Largest peak-to-trough decline	-37.16%	-26.67%	-10.49%
Max Drawdown (1Y) Largest decline over 1 year	-8.19%	-7.25%	-0.94%
Max Drawdown (3Y) Largest decline over 3 years	-9.60%	-9.90%	+0.30%
Max Drawdown (5Y) Largest decline over 5 years	-37.16%	-25.45%	-11.71%
Current Drawdown Current decline from peak	-3.03%	-3.45%	+0.42%
Average Drawdown Average peak-to-trough decline	-18.29%	-10.86%	-7.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.59%	2.37%	+0.22%

Volatility

MCSFX vs. VCMDX - Volatility Comparison

The current volatility for MFS Commodity Strategy Fund (MCSFX) is 4.74%, while Vanguard Commodity Strategy Fund Admiral Shares (VCMDX) has a volatility of 5.03%. This indicates that MCSFX experiences smaller price fluctuations and is considered to be less risky than VCMDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MCSFX	VCMDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.74%	5.03%	-0.29%
Volatility (6M) Calculated over the trailing 6-month period	13.69%	12.68%	+1.01%
Volatility (1Y) Calculated over the trailing 1-year period	15.87%	14.90%	+0.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.15%	15.86%	+18.29%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.57%	15.39%	+14.18%

MCSFX vs. VCMDX - Expense Ratio Comparison

MCSFX has a 1.89% expense ratio, which is higher than VCMDX's 0.20% expense ratio.

Dividends

MCSFX vs. VCMDX - Dividend Comparison

MCSFX's dividend yield for the trailing twelve months is around 12.09%, less than VCMDX's 12.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019
MCSFX MFS Commodity Strategy Fund	12.09%	15.05%	2.25%	1.04%	26.24%	54.80%	0.15%	0.86%
VCMDX Vanguard Commodity Strategy Fund Admiral Shares	12.38%	15.21%	2.19%	2.50%	14.21%	30.56%	0.50%	0.60%

Frequently Asked Questions

Can I hold both MCSFX and VCMDX in my portfolio?

With a correlation of 0.98, MCSFX and VCMDX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MCSFX or VCMDX?

VCMDX has higher volatility (5.03%) compared to MCSFX (4.74%). In terms of maximum drawdown, MCSFX dropped -37.16% vs VCMDX's -26.67%.

Which has better risk-adjusted returns?

MCSFX currently has the higher Sharpe Ratio (2.47 vs 2.41), 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.