MCSIX vs. VTIVX

Last updated Jun 23, 2026

MCSIX (MFS Commodity Strategy Fund) and VTIVX (Vanguard Target Retirement 2045 Fund) are both mutual funds - MCSIX is a Commodities fund managed by MFS, while VTIVX is a Target Retirement Date fund managed by Vanguard. Over the past 10 years, MCSIX returned 6.36%/yr vs 11.37%/yr for VTIVX. At a 0.30 correlation, their price movements are largely independent. MCSIX charges 0.90%/yr vs 0.08%/yr for VTIVX.

Performance

MCSIX vs. VTIVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Commodity Strategy Fund (MCSIX) and Vanguard Target Retirement 2045 Fund (VTIVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MCSIX achieves a 16.30% return, which is significantly higher than VTIVX's 10.59% return. Over the past 10 years, MCSIX has underperformed VTIVX with an annualized return of 6.36%, while VTIVX has yielded a comparatively higher 11.37% annualized return.

MCSIX

• 1D: -0.94%
• 1M: -6.65%
• YTD: 16.30%
• 6M: 16.30%
• 1Y: 24.45%
• 3Y*: 12.68%
• 5Y*: 10.85%
• 10Y*: 6.36%

VTIVX

• 1D: 1.05%
• 1M: 1.64%
• YTD: 10.59%
• 6M: 10.49%
• 1Y: 25.45%
• 3Y*: 17.27%
• 5Y*: 9.70%
• 10Y*: 11.37%

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

MCSIX vs. VTIVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MCSIX MFS Commodity Strategy Fund	16.30%	18.47%	5.08%	-6.13%	13.40%	27.55%	-0.02%	7.79%	-12.79%	3.65%
VTIVX Vanguard Target Retirement 2045 Fund	10.59%	20.01%	13.68%	19.72%	-17.38%	16.16%	16.31%	24.94%	-7.89%	19.16%

Correlation

The correlation between MCSIX and VTIVX is 0.03, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.16
Correlation (5Y) Calculated over the trailing 5-year period	0.22
Correlation (10Y) Calculated over the trailing 10-year period	0.27
Correlation (All Time) Calculated using the full available price history since Jun 2, 2010	0.30

Over the past year, the correlation between MCSIX and VTIVX has dropped to 0.03 - well below their long-term average of 0.30, suggesting their price drivers have been diverging.

Return for Risk

MCSIX vs. VTIVX — Risk / Return Rank

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

MCSIX

MCSIX Risk / Return Rank: 36
MCSIX Sharpe Ratio Rank: 31
MCSIX Sortino Ratio Rank: 27
MCSIX Omega Ratio Rank: 31
MCSIX Calmar Ratio Rank: 48
MCSIX Martin Ratio Rank: 42

VTIVX

VTIVX Risk / Return Rank: 69
VTIVX Sharpe Ratio Rank: 71
VTIVX Sortino Ratio Rank: 67
VTIVX Omega Ratio Rank: 67
VTIVX Calmar Ratio Rank: 68
VTIVX Martin Ratio Rank: 74

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.

MCSIX vs. VTIVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Commodity Strategy Fund (MCSIX) and Vanguard Target Retirement 2045 Fund (VTIVX). 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.

	MCSIX	VTIVX	Difference
Sharpe ratio: Return per unit of total volatility	1.50	2.25	-0.76
Sortino ratio: Return per unit of downside risk	2.00	3.11	-1.11
Omega ratio: Gain probability vs. loss probability	1.27	1.42	-0.14
Calmar ratio: Return relative to maximum drawdown	2.53	3.03	-0.50
Martin ratio: Return relative to average drawdown	8.48	13.09	-4.62

MCSIX vs. VTIVX - Sharpe Ratio Comparison

The current MCSIX Sharpe Ratio is 1.50, which is lower than the VTIVX Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of MCSIX and VTIVX, 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

MCSIX vs. VTIVX - Drawdown Comparison

The maximum MCSIX drawdown since its inception was -64.20%, which is greater than VTIVX's maximum drawdown of -51.69%. Use the drawdown chart below to compare losses from any high point for MCSIX and VTIVX.

Drawdown Indicators

	MCSIX	VTIVX	Difference
Max Drawdown Largest peak-to-trough decline	-64.20%	-51.69%	-12.51%
Max Drawdown (1Y) Largest decline over 1 year	-9.46%	-8.30%	-1.16%
Max Drawdown (3Y) Largest decline over 3 years	-9.74%	-13.40%	+3.66%
Max Drawdown (5Y) Largest decline over 5 years	-37.61%	-25.10%	-12.51%
Max Drawdown (10Y) Largest decline over 10 years	-37.61%	-31.42%	-6.19%
Current Drawdown Current decline from peak	-9.46%	-0.44%	-9.02%
Average Drawdown Average peak-to-trough decline	-33.19%	-6.32%	-26.87%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.93%	1.91%	+1.02%

Volatility

MCSIX vs. VTIVX - Volatility Comparison

The current volatility for MFS Commodity Strategy Fund (MCSIX) is 3.76%, while Vanguard Target Retirement 2045 Fund (VTIVX) has a volatility of 4.52%. This indicates that MCSIX experiences smaller price fluctuations and is considered to be less risky than VTIVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MCSIX	VTIVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.76%	4.52%	-0.76%
Volatility (6M) Calculated over the trailing 6-month period	13.76%	9.25%	+4.51%
Volatility (1Y) Calculated over the trailing 1-year period	15.98%	11.14%	+4.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	34.61%	13.60%	+21.01%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.02%	14.83%	+11.19%

MCSIX vs. VTIVX - Expense Ratio Comparison

MCSIX has a 0.90% expense ratio, which is higher than VTIVX's 0.08% expense ratio.

Dividends

MCSIX vs. VTIVX - Dividend Comparison

MCSIX's dividend yield for the trailing twelve months is around 13.79%, more than VTIVX's 2.26% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MCSIX MFS Commodity Strategy Fund	13.79%	16.04%	3.30%	2.21%	27.42%	56.01%	0.88%	1.87%	3.50%	3.14%	0.61%	0.47%
VTIVX Vanguard Target Retirement 2045 Fund	2.26%	2.50%	2.36%	2.27%	2.75%	15.40%	1.90%	2.23%	2.52%	0.04%	2.47%	3.29%

Frequently Asked Questions

Can I hold both MCSIX and VTIVX in my portfolio?

MCSIX and VTIVX have a correlation of 0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MCSIX or VTIVX?

VTIVX has higher volatility (4.52%) compared to MCSIX (3.76%). In terms of maximum drawdown, MCSIX dropped -64.20% vs VTIVX's -51.69%.

Which has better risk-adjusted returns?

VTIVX currently has the higher Sharpe Ratio (2.25 vs 1.50), 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.