MFALX vs. MITTX
MFALX (MFS Alabama Municipal Bond Fund) and MITTX (MFS Massachusetts Investors Trust) are both mutual funds - MFALX is a Municipal Bonds fund managed by MFS, while MITTX is a Large Cap Blend Equities fund managed by MFS. Over the past 10 years, MFALX returned 1.49%/yr vs 13.25%/yr for MITTX. Their -0.00 correlation means they have often moved in opposite directions in the past. MFALX charges 0.90%/yr vs 0.70%/yr for MITTX.
Performance
MFALX vs. MITTX - Performance Comparison
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Returns By Period
In the year-to-date period, MFALX achieves a 0.43% return, which is significantly lower than MITTX's 8.24% return. Over the past 10 years, MFALX has underperformed MITTX with an annualized return of 1.49%, while MITTX has yielded a comparatively higher 13.25% annualized return.
MFALX
- 1D
- -0.32%
- 1M
- -2.31%
- 6M
- -0.16%
- YTD
- 0.43%
- 1Y
- 5.75%
- 3Y*
- 3.24%
- 5Y*
- -0.11%
- 10Y*
- 1.49%
- ALL TIME*
- 4.41%
MITTX
- 1D
- 1.66%
- 1M
- 1.10%
- 6M
- 5.46%
- YTD
- 8.24%
- 1Y
- 15.92%
- 3Y*
- 15.27%
- 5Y*
- 9.15%
- 10Y*
- 13.25%
- ALL TIME*
- 7.50%
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 |
MFALX vs. MITTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MFALX MFS Alabama Municipal Bond Fund | 0.43% | 4.49% | 1.31% | 5.87% | -11.27% | 1.87% | 4.05% | 7.24% | 1.04% | 4.49% |
MITTX MFS Massachusetts Investors Trust | 8.24% | 13.67% | 19.69% | 19.26% | -16.27% | 26.73% | 18.72% | 31.92% | -5.56% | 23.55% |
Correlation
The correlation between MFALX and MITTX is 0.20, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.20 |
Correlation (3Y) Balances recent behavior with more history. | 0.14 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.12 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.03 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 1990 | -0.00 |
The correlation between MFALX and MITTX shifts across timeframes, from -0.00 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MFALX vs. MITTX — Risk / Return Rank
MFALX
MITTX
MFALX vs. MITTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS Alabama Municipal Bond Fund (MFALX) and MFS Massachusetts Investors Trust (MITTX). 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 | MITTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.93 | ||
| Sortino ratioReturn per unit of downside risk | +1.47 | ||
| Omega ratioGain probability vs. loss probability | 1.49 | 1.21 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.13 | 1.44 | +0.69 |
| Martin ratioReturn relative to average drawdown | 7.22 | 6.05 | +1.18 |
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Drawdowns
MFALX vs. MITTX - Drawdown Comparison
The maximum MFALX drawdown since its inception was -16.68%, smaller than the maximum MITTX drawdown of -49.54%. Use the drawdown chart below to compare losses from any high point for MFALX and MITTX.
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Drawdown Indicators
| MFALX | MITTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.68% | -49.54% | +32.86% |
Max Drawdown (1Y)Largest decline over 1 year | -3.24% | -9.76% | +6.52% |
Max Drawdown (3Y)Largest decline over 3 years | -6.10% | -16.10% | +10.00% |
Max Drawdown (5Y)Largest decline over 5 years | -16.60% | -23.27% | +6.67% |
Max Drawdown (10Y)Largest decline over 10 years | -16.68% | -33.45% | +16.77% |
Current DrawdownCurrent decline from peak | -2.31% | -1.11% | -1.20% |
Average DrawdownAverage peak-to-trough decline | -1.94% | -10.51% | +8.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 2.32% | -1.37% |
Volatility
MFALX vs. MITTX - Volatility Comparison
The current volatility for MFS Alabama Municipal Bond Fund (MFALX) is 1.05%, while MFS Massachusetts Investors Trust (MITTX) has a volatility of 3.18%. This indicates that MFALX experiences smaller price fluctuations and is considered to be less risky than MITTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MFALX | MITTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 3.18% | -2.13% |
Volatility (6M)Calculated over the trailing 6-month period | 2.64% | 9.44% | -6.80% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.30% | 12.09% | -8.79% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.63% | 15.79% | -11.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.36% | 17.18% | -12.82% |
MFALX vs. MITTX - Expense Ratio Comparison
MFALX has a 0.90% expense ratio, which is higher than MITTX's 0.70% expense ratio.
Dividends
MFALX vs. MITTX - Dividend Comparison
MFALX's dividend yield for the trailing twelve months is around 3.00%, less than MITTX's 11.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MFALX MFS Alabama Municipal Bond Fund | 3.00% | 4.22% | 2.79% | 2.34% | 1.62% | 1.57% | 2.21% | 2.92% | 3.32% | 3.39% | 3.59% | 3.89% |
MITTX MFS Massachusetts Investors Trust | 11.01% | 14.33% | 14.47% | 10.96% | 9.35% | 8.66% | 8.14% | 7.58% | 13.49% | 7.27% | 5.55% | 6.02% |
Frequently Asked Questions
MFALX and MITTX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MITTX has higher volatility (3.18%) compared to MFALX (1.05%). In terms of maximum drawdown, MFALX dropped -16.68% vs MITTX's -49.54%.
MFALX currently has the higher Sharpe Ratio (2.10 vs 1.16), 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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