MDDAX vs. MSTDX

Last updated Jun 4, 2026

MDDAX (MassMutual Diversified Value Fund) and MSTDX (MassMutual Short Duration Bond Fund) are both mutual funds - MDDAX is a Large Cap Value Equities fund managed by MassMutual, while MSTDX is a Short-Term Bond fund managed by MassMutual. Over the past 10 years, MDDAX returned 11.93%/yr vs 2.08%/yr for MSTDX. At a correlation of -0.06, they often move in opposite directions. MDDAX charges 1.12%/yr vs 0.51%/yr for MSTDX.

Performance

MDDAX vs. MSTDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MassMutual Diversified Value Fund (MDDAX) and MassMutual Short Duration Bond Fund (MSTDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MDDAX achieves a 9.86% return, which is significantly higher than MSTDX's 0.84% return. Over the past 10 years, MDDAX has outperformed MSTDX with an annualized return of 11.93%, while MSTDX has yielded a comparatively lower 2.08% annualized return.

MDDAX

• 1D: 0.44%
• 1M: 3.75%
• YTD: 9.86%
• 6M: 10.88%
• 1Y: 25.16%
• 3Y*: 18.38%
• 5Y*: 10.52%
• 10Y*: 11.93%

MSTDX

• 1D: 0.00%
• 1M: 0.11%
• YTD: 0.84%
• 6M: 1.36%
• 1Y: 4.51%
• 3Y*: 5.62%
• 5Y*: 1.36%
• 10Y*: 2.08%

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

MDDAX vs. MSTDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MDDAX MassMutual Diversified Value Fund	9.86%	16.56%	16.62%	8.97%	-2.70%	28.07%	-1.14%	32.34%	-8.88%	15.88%
MSTDX MassMutual Short Duration Bond Fund	0.84%	6.18%	6.38%	5.88%	-11.19%	1.79%	2.29%	4.49%	1.68%	2.61%

Correlation

The correlation between MDDAX and MSTDX is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.18
Correlation (3Y) Calculated over the trailing 3-year period	0.14
Correlation (5Y) Calculated over the trailing 5-year period	0.15
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since Oct 20, 2004	-0.06

The correlation between MDDAX and MSTDX shifts across timeframes, from -0.06 (all time) to 0.18 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MDDAX vs. MSTDX — Risk / Return Rank

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

MDDAX

MDDAX Risk / Return Rank: 70
MDDAX Sharpe Ratio Rank: 69
MDDAX Sortino Ratio Rank: 71
MDDAX Omega Ratio Rank: 58
MDDAX Calmar Ratio Rank: 81
MDDAX Martin Ratio Rank: 69

MSTDX

MSTDX Risk / Return Rank: 87
MSTDX Sharpe Ratio Rank: 73
MSTDX Sortino Ratio Rank: 93
MSTDX Omega Ratio Rank: 90
MSTDX Calmar Ratio Rank: 87
MSTDX Martin Ratio Rank: 89

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.

MDDAX vs. MSTDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MassMutual Diversified Value Fund (MDDAX) and MassMutual Short Duration Bond Fund (MSTDX). 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.

	MDDAX	MSTDX	Difference
Sharpe ratio: Return per unit of total volatility	2.42	2.49	-0.07
Sortino ratio: Return per unit of downside risk	3.52	4.74	-1.22
Omega ratio: Gain probability vs. loss probability	1.42	1.66	-0.23
Calmar ratio: Return relative to maximum drawdown	3.73	4.26	-0.53
Martin ratio: Return relative to average drawdown	13.27	17.86	-4.59
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MDDAX vs. MSTDX - Sharpe Ratio Comparison

The current MDDAX Sharpe Ratio is 2.42, which is comparable to the MSTDX Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of MDDAX and MSTDX, 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

	MDDAX	MSTDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.42	2.49	-0.07
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.59	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.64	1.01	-0.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	1.25	-0.82

Drawdowns

MDDAX vs. MSTDX - Drawdown Comparison

The maximum MDDAX drawdown since its inception was -63.45%, which is greater than MSTDX's maximum drawdown of -13.31%. Use the drawdown chart below to compare losses from any high point for MDDAX and MSTDX.

Drawdown Indicators

	MDDAX	MSTDX	Difference
Max Drawdown Largest peak-to-trough decline	-63.45%	-13.31%	-50.14%
Max Drawdown (1Y) Largest decline over 1 year	-6.99%	-1.06%	-5.93%
Max Drawdown (3Y) Largest decline over 3 years	-14.14%	-1.06%	-13.08%
Max Drawdown (5Y) Largest decline over 5 years	-24.00%	-13.31%	-10.69%
Max Drawdown (10Y) Largest decline over 10 years	-38.72%	-13.31%	-25.41%
Current Drawdown Current decline from peak	0.00%	-0.11%	+0.11%
Average Drawdown Average peak-to-trough decline	-11.17%	-1.43%	-9.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.96%	0.25%	+1.71%

Volatility

MDDAX vs. MSTDX - Volatility Comparison

MassMutual Diversified Value Fund (MDDAX) has a higher volatility of 2.85% compared to MassMutual Short Duration Bond Fund (MSTDX) at 0.65%. This indicates that MDDAX's price experiences larger fluctuations and is considered to be riskier than MSTDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MDDAX	MSTDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.85%	0.65%	+2.20%
Volatility (6M) Calculated over the trailing 6-month period	7.89%	1.37%	+6.52%
Volatility (1Y) Calculated over the trailing 1-year period	10.77%	1.82%	+8.95%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.95%	2.33%	+14.62%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.72%	2.06%	+16.66%

MDDAX vs. MSTDX - Expense Ratio Comparison

MDDAX has a 1.12% expense ratio, which is higher than MSTDX's 0.51% expense ratio.

Dividends

MDDAX vs. MSTDX - Dividend Comparison

MDDAX's dividend yield for the trailing twelve months is around 29.53%, more than MSTDX's 4.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MDDAX MassMutual Diversified Value Fund	29.53%	32.44%	40.33%	4.62%	12.85%	12.66%	1.64%	11.68%	18.94%	37.06%	5.94%	1.22%
MSTDX MassMutual Short Duration Bond Fund	4.44%	4.36%	2.63%	2.48%	1.46%	1.90%	4.44%	3.35%	3.82%	2.51%	2.36%	2.57%

Frequently Asked Questions

Can I hold both MDDAX and MSTDX in my portfolio?

MDDAX and MSTDX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MDDAX or MSTDX?

MDDAX has higher volatility (2.85%) compared to MSTDX (0.65%). In terms of maximum drawdown, MDDAX dropped -63.45% vs MSTDX's -13.31%.

Which has better risk-adjusted returns?

MSTDX currently has the higher Sharpe Ratio (2.49 vs 2.42), 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.