MEIAX vs. MFIOX

Last updated Jun 23, 2026

MEIAX (MFS Value Fund) and MFIOX (MFS Income Fund) are both mutual funds - MEIAX is a Large Cap Value Equities fund managed by MFS, while MFIOX is a Intermediate Core-Plus Bond fund managed by MFS. Over the past 10 years, MEIAX returned 9.88%/yr vs 2.72%/yr for MFIOX. At a 0.04 correlation, their price movements are largely independent. MEIAX charges 0.80%/yr vs 0.73%/yr for MFIOX.

Performance

MEIAX vs. MFIOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Value Fund (MEIAX) and MFS Income Fund (MFIOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MEIAX achieves a 6.36% return, which is significantly higher than MFIOX's 0.63% return. Over the past 10 years, MEIAX has outperformed MFIOX with an annualized return of 9.88%, while MFIOX has yielded a comparatively lower 2.72% annualized return.

MEIAX

• 1D: -0.26%
• 1M: 1.30%
• YTD: 6.36%
• 6M: 5.64%
• 1Y: 15.73%
• 3Y*: 12.65%
• 5Y*: 8.76%
• 10Y*: 9.88%

MFIOX

• 1D: 0.17%
• 1M: 0.92%
• YTD: 0.63%
• 6M: 1.01%
• 1Y: 5.31%
• 3Y*: 5.05%
• 5Y*: 0.55%
• 10Y*: 2.72%

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

MEIAX vs. MFIOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MEIAX MFS Value Fund	6.36%	12.97%	11.60%	7.92%	-6.25%	25.11%	3.71%	29.73%	-10.11%	16.97%
MFIOX MFS Income Fund	0.63%	7.37%	2.66%	7.46%	-14.14%	-0.28%	9.47%	11.36%	-2.38%	5.73%

Correlation

The correlation between MEIAX and MFIOX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.25
Correlation (5Y) Calculated over the trailing 5-year period	0.20
Correlation (10Y) Calculated over the trailing 10-year period	0.08
Correlation (All Time) Calculated using the full available price history since Dec 29, 1995	0.04

Over the past year, MEIAX and MFIOX have become more correlated (0.31) than their long-term average of 0.04, meaning their price movements have been converging.

Return for Risk

MEIAX vs. MFIOX — Risk / Return Rank

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

MEIAX

MEIAX Risk / Return Rank: 34
MEIAX Sharpe Ratio Rank: 31
MEIAX Sortino Ratio Rank: 32
MEIAX Omega Ratio Rank: 28
MEIAX Calmar Ratio Rank: 42
MEIAX Martin Ratio Rank: 39

MFIOX

MFIOX Risk / Return Rank: 30
MFIOX Sharpe Ratio Rank: 30
MFIOX Sortino Ratio Rank: 33
MFIOX Omega Ratio Rank: 31
MFIOX Calmar Ratio Rank: 29
MFIOX Martin Ratio Rank: 26

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.

MEIAX vs. MFIOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Value Fund (MEIAX) and MFS Income Fund (MFIOX). 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.

	MEIAX	MFIOX	Difference
Sharpe ratio: Return per unit of total volatility	1.49	1.47	+0.02
Sortino ratio: Return per unit of downside risk	2.17	2.22	-0.05
Omega ratio: Gain probability vs. loss probability	1.26	1.27	-0.01
Calmar ratio: Return relative to maximum drawdown	2.34	1.89	+0.45
Martin ratio: Return relative to average drawdown	8.04	5.80	+2.24

MEIAX vs. MFIOX - Sharpe Ratio Comparison

The current MEIAX Sharpe Ratio is 1.49, which is comparable to the MFIOX Sharpe Ratio of 1.47. The chart below compares the historical Sharpe Ratios of MEIAX and MFIOX, 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

MEIAX vs. MFIOX - Drawdown Comparison

The maximum MEIAX drawdown since its inception was -52.85%, which is greater than MFIOX's maximum drawdown of -19.07%. Use the drawdown chart below to compare losses from any high point for MEIAX and MFIOX.

Drawdown Indicators

	MEIAX	MFIOX	Difference
Max Drawdown Largest peak-to-trough decline	-52.85%	-19.07%	-33.78%
Max Drawdown (1Y) Largest decline over 1 year	-6.78%	-2.81%	-3.97%
Max Drawdown (3Y) Largest decline over 3 years	-13.26%	-5.88%	-7.38%
Max Drawdown (5Y) Largest decline over 5 years	-17.72%	-19.07%	+1.35%
Max Drawdown (10Y) Largest decline over 10 years	-36.71%	-19.07%	-17.64%
Current Drawdown Current decline from peak	-1.42%	-0.97%	-0.45%
Average Drawdown Average peak-to-trough decline	-6.53%	-2.18%	-4.35%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.97%	0.92%	+1.05%

Volatility

MEIAX vs. MFIOX - Volatility Comparison

MFS Value Fund (MEIAX) has a higher volatility of 3.21% compared to MFS Income Fund (MFIOX) at 1.14%. This indicates that MEIAX's price experiences larger fluctuations and is considered to be riskier than MFIOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MEIAX	MFIOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.21%	1.14%	+2.07%
Volatility (6M) Calculated over the trailing 6-month period	7.89%	2.69%	+5.20%
Volatility (1Y) Calculated over the trailing 1-year period	10.65%	3.63%	+7.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.94%	5.52%	+8.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.56%	4.88%	+11.68%

MEIAX vs. MFIOX - Expense Ratio Comparison

MEIAX has a 0.80% expense ratio, which is higher than MFIOX's 0.73% expense ratio.

Dividends

MEIAX vs. MFIOX - Dividend Comparison

MEIAX's dividend yield for the trailing twelve months is around 8.96%, more than MFIOX's 4.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MEIAX MFS Value Fund	8.96%	9.34%	9.10%	8.21%	7.36%	3.10%	2.42%	2.97%	3.36%	3.87%	2.84%	5.73%
MFIOX MFS Income Fund	4.70%	4.70%	5.04%	4.72%	2.24%	3.29%	2.80%	3.04%	3.07%	3.26%	3.61%	4.35%

Frequently Asked Questions

Can I hold both MEIAX and MFIOX in my portfolio?

MEIAX and MFIOX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MEIAX or MFIOX?

MEIAX has higher volatility (3.21%) compared to MFIOX (1.14%). In terms of maximum drawdown, MEIAX dropped -52.85% vs MFIOX's -19.07%.

Which has better risk-adjusted returns?

MEIAX currently has the higher Sharpe Ratio (1.49 vs 1.47), 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.