MFALX vs. MEIAX
MFALX (MFS Alabama Municipal Bond Fund) and MEIAX (MFS Value Fund) are both mutual funds - MFALX is a Municipal Bonds fund managed by MFS, while MEIAX is a Large Cap Value Equities fund managed by MFS. Over the past 10 years, MFALX returned 1.66%/yr vs 10.21%/yr for MEIAX. At a correlation of -0.06, they often move in opposite directions. MFALX charges 0.90%/yr vs 0.80%/yr for MEIAX.
Performance
MFALX vs. MEIAX - Performance Comparison
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Returns By Period
In the year-to-date period, MFALX achieves a 2.10% return, which is significantly lower than MEIAX's 6.76% return. Over the past 10 years, MFALX has underperformed MEIAX with an annualized return of 1.66%, while MEIAX has yielded a comparatively higher 10.21% annualized return.
MFALX
- 1D
- 0.00%
- 1M
- 2.00%
- YTD
- 2.10%
- 6M
- 2.49%
- 1Y
- 7.63%
- 3Y*
- 3.75%
- 5Y*
- 0.42%
- 10Y*
- 1.66%
MEIAX
- 1D
- 0.38%
- 1M
- 1.69%
- YTD
- 6.76%
- 6M
- 5.94%
- 1Y
- 15.25%
- 3Y*
- 13.46%
- 5Y*
- 8.52%
- 10Y*
- 10.21%
MFALX vs. MEIAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MFALX MFS Alabama Municipal Bond Fund | 2.10% | 4.49% | 1.31% | 5.87% | -11.27% | 1.87% | 4.05% | 7.24% | 1.04% | 4.49% |
MEIAX MFS Value Fund | 6.76% | 12.97% | 11.60% | 7.92% | -6.25% | 25.11% | 3.71% | 29.73% | -10.11% | 16.97% |
Correlation
The correlation between MFALX and MEIAX is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.09 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.00 |
Correlation (All Time) Calculated using the full available price history since Dec 29, 1995 | -0.06 |
The correlation between MFALX and MEIAX shifts across timeframes, from -0.06 (all time) to 0.17 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MFALX vs. MEIAX — Risk / Return Rank
MFALX
MEIAX
MFALX vs. MEIAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS Alabama Municipal Bond Fund (MFALX) and MFS Value Fund (MEIAX). 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.
| MFALX | MEIAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.88 | ||
| Sortino ratioReturn per unit of downside risk | +1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.59 | 1.27 | +0.32 |
| Calmar ratioReturn relative to maximum drawdown | 2.40 | 2.40 | +0.01 |
| Martin ratioReturn relative to average drawdown | 8.30 | 8.22 | +0.08 |
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Drawdowns
MFALX vs. MEIAX - Drawdown Comparison
The maximum MFALX drawdown since its inception was -16.68%, smaller than the maximum MEIAX drawdown of -52.85%. Use the drawdown chart below to compare losses from any high point for MFALX and MEIAX.
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Drawdown Indicators
| MFALX | MEIAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.68% | -52.85% | +36.17% |
Max Drawdown (1Y)Largest decline over 1 year | -3.24% | -6.78% | +3.54% |
Max Drawdown (3Y)Largest decline over 3 years | -7.01% | -13.26% | +6.25% |
Max Drawdown (5Y)Largest decline over 5 years | -16.68% | -17.72% | +1.04% |
Max Drawdown (10Y)Largest decline over 10 years | -16.68% | -36.71% | +20.03% |
Current DrawdownCurrent decline from peak | -0.13% | -1.04% | +0.91% |
Average DrawdownAverage peak-to-trough decline | -1.94% | -6.53% | +4.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.94% | 1.97% | -1.03% |
Volatility
MFALX vs. MEIAX - Volatility Comparison
The current volatility for MFS Alabama Municipal Bond Fund (MFALX) is 0.81%, while MFS Value Fund (MEIAX) has a volatility of 3.22%. This indicates that MFALX experiences smaller price fluctuations and is considered to be less risky than MEIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MFALX | MEIAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.81% | 3.22% | -2.41% |
Volatility (6M)Calculated over the trailing 6-month period | 2.42% | 7.89% | -5.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.24% | 10.67% | -7.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.61% | 13.92% | -9.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.35% | 16.56% | -12.21% |
MFALX vs. MEIAX - Expense Ratio Comparison
MFALX has a 0.90% expense ratio, which is higher than MEIAX's 0.80% expense ratio.
Dividends
MFALX vs. MEIAX - Dividend Comparison
MFALX's dividend yield for the trailing twelve months is around 3.20%, less than MEIAX's 8.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MEIAX MFS Value Fund | 8.93% | 9.34% | 9.10% | 8.21% | 7.36% | 3.10% | 2.42% | 2.97% | 3.36% | 3.87% | 2.84% | 5.73% |
MFALX MFS Alabama Municipal Bond Fund | 3.20% | 4.22% | 2.79% | 2.34% | 1.62% | 1.57% | 2.21% | 2.92% | 3.32% | 3.39% | 3.59% | 3.89% |
Frequently Asked Questions
MFALX and MEIAX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MEIAX has higher volatility (3.22%) compared to MFALX (0.81%). In terms of maximum drawdown, MFALX dropped -16.68% vs MEIAX's -52.85%.
MFALX currently has the higher Sharpe Ratio (2.41 vs 1.52), 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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