MCVIX vs. PVMIX

Last updated Jun 6, 2026

MCVIX (MFS Mid Cap Value Fund Class I) and PVMIX (Principal MidCap Value Fund I) are both Mid Cap Value Equities funds. Over the past 10 years, MCVIX returned 10.00%/yr vs 12.58%/yr for PVMIX. With a 0.97 correlation, they move nearly in lockstep. MCVIX charges 0.72%/yr vs 0.69%/yr for PVMIX.

Performance

MCVIX vs. PVMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Mid Cap Value Fund Class I (MCVIX) and Principal MidCap Value Fund I (PVMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MCVIX achieves a 9.59% return, which is significantly lower than PVMIX's 13.14% return. Over the past 10 years, MCVIX has underperformed PVMIX with an annualized return of 10.00%, while PVMIX has yielded a comparatively higher 12.58% annualized return.

MCVIX

• 1D: 0.80%
• 1M: 1.48%
• YTD: 9.59%
• 6M: 9.45%
• 1Y: 18.96%
• 3Y*: 14.27%
• 5Y*: 7.94%
• 10Y*: 10.00%

PVMIX

• 1D: 0.46%
• 1M: 1.28%
• YTD: 13.14%
• 6M: 12.64%
• 1Y: 20.66%
• 3Y*: 21.46%
• 5Y*: 11.81%
• 10Y*: 12.58%

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

MCVIX vs. PVMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MCVIX MFS Mid Cap Value Fund Class I	9.59%	6.33%	13.88%	12.80%	-8.74%	30.79%	4.27%	30.87%	-11.48%	13.67%
PVMIX Principal MidCap Value Fund I	13.14%	6.09%	33.38%	11.04%	-5.95%	30.97%	6.50%	26.69%	-11.07%	14.63%

Correlation

The correlation between MCVIX and PVMIX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Dec 31, 2003	0.97

The correlation between MCVIX and PVMIX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

MCVIX vs. PVMIX — Risk / Return Rank

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

MCVIX

MCVIX Risk / Return Rank: 28
MCVIX Sharpe Ratio Rank: 27
MCVIX Sortino Ratio Rank: 28
MCVIX Omega Ratio Rank: 25
MCVIX Calmar Ratio Rank: 31
MCVIX Martin Ratio Rank: 31

PVMIX

PVMIX Risk / Return Rank: 45
PVMIX Sharpe Ratio Rank: 39
PVMIX Sortino Ratio Rank: 42
PVMIX Omega Ratio Rank: 36
PVMIX Calmar Ratio Rank: 57
PVMIX Martin Ratio Rank: 50

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.

MCVIX vs. PVMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Mid Cap Value Fund Class I (MCVIX) and Principal MidCap Value Fund I (PVMIX). 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.

	MCVIX	PVMIX	Difference
Sharpe ratio: Return per unit of total volatility	1.40	1.76	-0.35
Sortino ratio: Return per unit of downside risk	2.10	2.61	-0.52
Omega ratio: Gain probability vs. loss probability	1.25	1.31	-0.06
Calmar ratio: Return relative to maximum drawdown	2.00	2.79	-0.79
Martin ratio: Return relative to average drawdown	6.87	9.92	-3.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MCVIX vs. PVMIX - Sharpe Ratio Comparison

The current MCVIX Sharpe Ratio is 1.40, which is comparable to the PVMIX Sharpe Ratio of 1.76. The chart below compares the historical Sharpe Ratios of MCVIX and PVMIX, 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

	MCVIX	PVMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.40	1.76	-0.35
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.46	0.65	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	0.66	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.54	-0.05

Drawdowns

MCVIX vs. PVMIX - Drawdown Comparison

The maximum MCVIX drawdown since its inception was -59.64%, which is greater than PVMIX's maximum drawdown of -56.76%. Use the drawdown chart below to compare losses from any high point for MCVIX and PVMIX.

Drawdown Indicators

	MCVIX	PVMIX	Difference
Max Drawdown Largest peak-to-trough decline	-59.64%	-56.76%	-2.88%
Max Drawdown (1Y) Largest decline over 1 year	-9.38%	-7.37%	-2.01%
Max Drawdown (3Y) Largest decline over 3 years	-21.01%	-16.78%	-4.23%
Max Drawdown (5Y) Largest decline over 5 years	-21.01%	-17.05%	-3.96%
Max Drawdown (10Y) Largest decline over 10 years	-42.79%	-41.34%	-1.45%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.89%	-6.83%	-1.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.73%	2.07%	+0.66%

Volatility

MCVIX vs. PVMIX - Volatility Comparison

MFS Mid Cap Value Fund Class I (MCVIX) has a higher volatility of 3.39% compared to Principal MidCap Value Fund I (PVMIX) at 2.95%. This indicates that MCVIX's price experiences larger fluctuations and is considered to be riskier than PVMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MCVIX	PVMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.39%	2.95%	+0.44%
Volatility (6M) Calculated over the trailing 6-month period	9.71%	8.47%	+1.24%
Volatility (1Y) Calculated over the trailing 1-year period	13.37%	11.74%	+1.63%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.25%	18.25%	-1.00%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.26%	19.21%	+0.05%

MCVIX vs. PVMIX - Expense Ratio Comparison

MCVIX has a 0.72% expense ratio, which is higher than PVMIX's 0.69% expense ratio.

Dividends

MCVIX vs. PVMIX - Dividend Comparison

MCVIX's dividend yield for the trailing twelve months is around 7.45%, more than PVMIX's 6.38% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MCVIX MFS Mid Cap Value Fund Class I	7.45%	8.16%	10.88%	2.88%	5.32%	5.78%	0.99%	2.20%	6.49%	3.53%	0.06%	4.74%
PVMIX Principal MidCap Value Fund I	6.38%	7.22%	33.98%	4.63%	7.12%	11.44%	1.38%	5.11%	13.23%	6.92%	1.58%	11.19%

Frequently Asked Questions

Can I hold both MCVIX and PVMIX in my portfolio?

With a correlation of 0.94, MCVIX and PVMIX 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, MCVIX or PVMIX?

MCVIX has higher volatility (3.39%) compared to PVMIX (2.95%). In terms of maximum drawdown, MCVIX dropped -59.64% vs PVMIX's -56.76%.

Which has better risk-adjusted returns?

PVMIX currently has the higher Sharpe Ratio (1.76 vs 1.40), 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.