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MEDIX vs. ICLO
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MEDIX vs. ICLO

Last updated Jun 24, 2026

MEDIX (MFS Emerging Markets Debt Fund) and ICLO (Invesco Aaa CLO Floating Rate Note ETF) are both funds - MEDIX is a Emerging Markets Bonds fund managed by MFS, while ICLO is a CLO fund actively managed by Invesco. Over the past 3 years, MEDIX returned 9.00%/yr vs 6.60%/yr for ICLO. At a 0.09 correlation, their price movements are largely independent. MEDIX charges 0.81%/yr vs 0.26%/yr for ICLO.

Performance

MEDIX vs. ICLO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Emerging Markets Debt Fund (MEDIX) and Invesco Aaa CLO Floating Rate Note ETF (ICLO). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MEDIX achieves a 2.54% return, which is significantly higher than ICLO's 2.36% return.

MEDIX

1D
-0.23%
1M
1.57%
YTD
2.54%
6M
3.17%
1Y
11.37%
3Y*
9.00%
5Y*
2.08%
10Y*
3.66%

ICLO

1D
-0.02%
1M
0.59%
YTD
2.36%
6M
2.45%
1Y
5.40%
3Y*
6.60%
5Y*
—
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

MEDIX vs. ICLO - Yearly Performance Comparison

2026 (YTD)2025202420232022
MEDIX
MFS Emerging Markets Debt Fund		2.54%12.48%5.92%9.42%-0.53%
ICLO
Invesco Aaa CLO Floating Rate Note ETF		2.36%5.27%7.05%8.90%0.38%

Correlation

The correlation between MEDIX and ICLO is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.12

Correlation (3Y)
Calculated over the trailing 3-year period

0.08

Correlation (All Time)
Calculated using the full available price history since Dec 9, 2022

0.09

Compare stocks, funds, or ETFs

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MFS Emerging Markets Debt Fund

Invesco Aaa CLO Floating Rate Note ETF

Often compared with MEDIX:
MEDIX vs. TEDNXMEDIX vs. JAAAMEDIX vs. VOOMEDIX vs. VEGBXMEDIX vs. EIDOXMEDIX vs. VTIPXMEDIX vs. AGEYX
Often compared with ICLO:
ICLO vs. JAAAICLO vs. CLOAICLO vs. CLOIICLO vs. VMFXXICLO vs. BKLNICLO vs. PAAAICLO vs. TFLR

Return for Risk

MEDIX vs. ICLO — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MEDIX
MEDIX Risk / Return Rank: 8181
Overall Rank
MEDIX Sharpe Ratio Rank: 9393
Sharpe Ratio Rank
MEDIX Sortino Ratio Rank: 9595
Sortino Ratio Rank
MEDIX Omega Ratio Rank: 9090
Omega Ratio Rank
MEDIX Calmar Ratio Rank: 5959
Calmar Ratio Rank
MEDIX Martin Ratio Rank: 6767
Martin Ratio Rank
ICLO
ICLO Risk / Return Rank: 9797
Overall Rank
ICLO Sharpe Ratio Rank: 9696
Sharpe Ratio Rank
ICLO Sortino Ratio Rank: 9797
Sortino Ratio Rank
ICLO Omega Ratio Rank: 9797
Omega Ratio Rank
ICLO Calmar Ratio Rank: 9898
Calmar Ratio Rank
ICLO Martin Ratio Rank: 9898
Martin Ratio Rank
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.

MEDIX vs. ICLO - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Emerging Markets Debt Fund (MEDIX) and Invesco Aaa CLO Floating Rate Note ETF (ICLO). 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.

MEDIXICLODifference
Sharpe ratioReturn per unit of total volatility
2.93
3.92

-1.00

Sortino ratioReturn per unit of downside risk
4.82
6.57

-1.75

Omega ratioGain probability vs. loss probability

1.61

1.92

-0.32

Calmar ratioReturn relative to maximum drawdown

2.82

15.43

-12.61

Martin ratioReturn relative to average drawdown

12.28

64.24

-51.95

MEDIX vs. ICLO - Sharpe Ratio Comparison

The current MEDIX Sharpe Ratio is 2.93, which is comparable to the ICLO Sharpe Ratio of 3.92. The chart below compares the historical Sharpe Ratios of MEDIX and ICLO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

MEDIX vs. ICLO - Drawdown Comparison

The maximum MEDIX drawdown since its inception was -35.31%, which is greater than ICLO's maximum drawdown of -3.47%. Use the drawdown chart below to compare losses from any high point for MEDIX and ICLO.

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Drawdown Indicators

MEDIXICLODifference

Max Drawdown

Largest peak-to-trough decline

-35.31%

-3.47%

-31.84%

Max Drawdown (1Y)

Largest decline over 1 year

-4.12%

-0.35%

-3.77%

Max Drawdown (3Y)

Largest decline over 3 years

-7.48%

-3.47%

-4.01%

Max Drawdown (5Y)

Largest decline over 5 years

-27.40%

—

—

Max Drawdown (10Y)

Largest decline over 10 years

-27.40%

—

—

Current Drawdown

Current decline from peak

-0.47%

-0.11%

-0.36%

Average Drawdown

Average peak-to-trough decline

-4.44%

-0.06%

-4.38%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.94%

0.08%

+0.86%

Volatility

MEDIX vs. ICLO - Volatility Comparison

MFS Emerging Markets Debt Fund (MEDIX) has a higher volatility of 1.13% compared to Invesco Aaa CLO Floating Rate Note ETF (ICLO) at 0.52%. This indicates that MEDIX's price experiences larger fluctuations and is considered to be riskier than ICLO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MEDIXICLODifference

Volatility (1M)

Calculated over the trailing 1-month period

1.13%

0.52%

+0.61%

Volatility (6M)

Calculated over the trailing 6-month period

3.28%

0.88%

+2.40%

Volatility (1Y)

Calculated over the trailing 1-year period

3.97%

1.38%

+2.59%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

5.90%

2.42%

+3.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

5.87%

2.42%

+3.45%

MEDIX vs. ICLO - Expense Ratio Comparison

MEDIX has a 0.81% expense ratio, which is higher than ICLO's 0.26% expense ratio.

Dividends

MEDIX vs. ICLO - Dividend Comparison

MEDIX's dividend yield for the trailing twelve months is around 5.04%, which matches ICLO's 5.02% yield.

PositionTTM20252024202320222021202020192018201720162015
ICLO
Invesco Aaa CLO Floating Rate Note ETF		5.02%5.49%6.51%7.01%0.00%0.00%0.00%0.00%0.00%0.00%0.00%0.00%
MEDIX
MFS Emerging Markets Debt Fund		5.04%5.22%5.68%4.90%5.51%4.33%4.07%4.59%4.87%4.46%4.86%5.25%

Frequently Asked Questions

MEDIX and ICLO have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MEDIX has higher volatility (1.13%) compared to ICLO (0.52%). In terms of maximum drawdown, MEDIX dropped -35.31% vs ICLO's -3.47%.

ICLO currently has the higher Sharpe Ratio (3.92 vs 2.93), 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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