MDVAX vs. MGFAX
MDVAX (MassMutual Diversified Bond Fund) and MGFAX (MassMutual Global Fund) are both mutual funds - MDVAX is a Intermediate Core-Plus Bond fund managed by MassMutual, while MGFAX is a Global Equities fund managed by MassMutual. Over the past 10 years, MDVAX returned 1.99%/yr vs 11.14%/yr for MGFAX. Their -0.04 correlation means they have often moved in opposite directions in the past. MDVAX charges 1.07%/yr vs 1.41%/yr for MGFAX.
Performance
MDVAX vs. MGFAX - Performance Comparison
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Returns By Period
In the year-to-date period, MDVAX achieves a 2.33% return, which is significantly higher than MGFAX's 1.52% return. Over the past 10 years, MDVAX has underperformed MGFAX with an annualized return of 1.99%, while MGFAX has yielded a comparatively higher 11.14% annualized return.
MDVAX
- 1D
- 0.12%
- 1M
- -0.70%
- 6M
- 1.66%
- YTD
- 2.33%
- 1Y
- 5.36%
- 3Y*
- 5.74%
- 5Y*
- -0.11%
- 10Y*
- 1.99%
- ALL TIME*
- 3.12%
MGFAX
- 1D
- 0.55%
- 1M
- -4.53%
- 6M
- 1.24%
- YTD
- 1.52%
- 1Y
- 9.83%
- 3Y*
- 11.88%
- 5Y*
- 4.84%
- 10Y*
- 11.14%
- ALL TIME*
- 7.44%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MDVAX vs. MGFAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MDVAX MassMutual Diversified Bond Fund | 2.33% | 8.40% | 2.47% | 5.81% | -17.01% | 1.95% | 8.08% | 10.12% | -1.55% | 4.52% |
MGFAX MassMutual Global Fund | 1.52% | 14.37% | 15.01% | 33.87% | -32.08% | 19.60% | 27.18% | 30.67% | -14.19% | 35.30% |
Correlation
The correlation between MDVAX and MGFAX is 0.37, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.37 |
Correlation (3Y) Balances recent behavior with more history. | 0.25 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.24 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.13 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 2004 | -0.04 |
The correlation between MDVAX and MGFAX shifts across timeframes, from -0.04 (all time) to 0.37 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MDVAX vs. MGFAX — Risk / Return Rank
MDVAX
MGFAX
MDVAX vs. MGFAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MassMutual Diversified Bond Fund (MDVAX) and MassMutual Global Fund (MGFAX). 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.
| MDVAX | MGFAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.65 | ||
| Sortino ratioReturn per unit of downside risk | +2.69 | ||
| Omega ratioGain probability vs. loss probability | 1.42 | 1.09 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 2.82 | 0.47 | +2.35 |
| Martin ratioReturn relative to average drawdown | 11.79 | 1.63 | +10.16 |
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Drawdowns
MDVAX vs. MGFAX - Drawdown Comparison
The maximum MDVAX drawdown since its inception was -23.02%, smaller than the maximum MGFAX drawdown of -62.06%. Use the drawdown chart below to compare losses from any high point for MDVAX and MGFAX.
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Drawdown Indicators
| MDVAX | MGFAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.02% | -62.06% | +39.04% |
Max Drawdown (1Y)Largest decline over 1 year | -2.21% | -16.38% | +14.17% |
Max Drawdown (3Y)Largest decline over 3 years | -4.87% | -23.61% | +18.74% |
Max Drawdown (5Y)Largest decline over 5 years | -23.02% | -46.09% | +23.07% |
Max Drawdown (10Y)Largest decline over 10 years | -23.02% | -46.09% | +23.07% |
Current DrawdownCurrent decline from peak | -3.63% | -7.99% | +4.36% |
Average DrawdownAverage peak-to-trough decline | -3.47% | -13.52% | +10.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.53% | 4.75% | -4.22% |
Volatility
MDVAX vs. MGFAX - Volatility Comparison
The current volatility for MassMutual Diversified Bond Fund (MDVAX) is 0.57%, while MassMutual Global Fund (MGFAX) has a volatility of 5.16%. This indicates that MDVAX experiences smaller price fluctuations and is considered to be less risky than MGFAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MDVAX | MGFAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.57% | 5.16% | -4.59% |
Volatility (6M)Calculated over the trailing 6-month period | 2.15% | 15.50% | -13.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.02% | 18.32% | -15.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.45% | 33.72% | -27.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.26% | 27.58% | -22.32% |
MDVAX vs. MGFAX - Expense Ratio Comparison
MDVAX has a 1.07% expense ratio, which is lower than MGFAX's 1.41% expense ratio.
Dividends
MDVAX vs. MGFAX - Dividend Comparison
MDVAX's dividend yield for the trailing twelve months is around 3.80%, less than MGFAX's 43.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MDVAX MassMutual Diversified Bond Fund | 3.80% | 3.91% | 2.45% | 4.87% | 3.76% | 4.06% | 7.20% | 2.90% | 2.86% | 2.64% | 2.11% | 0.53% |
MGFAX MassMutual Global Fund | 43.01% | 43.66% | 16.85% | 30.43% | 28.11% | 15.89% | 5.05% | 0.36% | 27.78% | 12.10% | 3.75% | 8.25% |
Frequently Asked Questions
MDVAX and MGFAX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MGFAX has higher volatility (5.16%) compared to MDVAX (0.57%). In terms of maximum drawdown, MDVAX dropped -23.02% vs MGFAX's -62.06%.
MDVAX currently has the higher Sharpe Ratio (2.08 vs 0.42), 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.
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