MFFIX vs. VTIVX

Last updated Jun 3, 2026

MFFIX (MFS Lifetime 2050 Fund) and VTIVX (Vanguard Target Retirement 2045 Fund) are both Target Retirement Date funds. Over the past 10 years, MFFIX returned 11.14%/yr vs 11.32%/yr for VTIVX. With a 0.98 correlation, they move nearly in lockstep. MFFIX charges 0.00%/yr vs 0.08%/yr for VTIVX.

Performance

MFFIX vs. VTIVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Lifetime 2050 Fund (MFFIX) and Vanguard Target Retirement 2045 Fund (VTIVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MFFIX achieves a 10.06% return, which is significantly lower than VTIVX's 10.74% return. Both investments have delivered pretty close results over the past 10 years, with MFFIX having a 11.14% annualized return and VTIVX not far ahead at 11.32%.

MFFIX

• 1D: 0.15%
• 1M: 2.91%
• YTD: 10.06%
• 6M: 11.20%
• 1Y: 21.50%
• 3Y*: 16.75%
• 5Y*: 8.86%
• 10Y*: 11.14%

VTIVX

• 1D: 0.26%
• 1M: 4.06%
• YTD: 10.74%
• 6M: 11.95%
• 1Y: 25.85%
• 3Y*: 18.36%
• 5Y*: 9.46%
• 10Y*: 11.32%

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

MFFIX vs. VTIVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MFFIX MFS Lifetime 2050 Fund	10.06%	16.35%	13.21%	16.81%	-15.69%	20.44%	13.24%	26.79%	-7.94%	21.21%
VTIVX Vanguard Target Retirement 2045 Fund	10.74%	20.01%	13.68%	19.72%	-17.38%	16.16%	16.31%	24.94%	-7.89%	19.16%

Correlation

The correlation between MFFIX and VTIVX is 0.96 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.96
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.98
Correlation (All Time) Calculated using the full available price history since Sep 16, 2010	0.98

The correlation between MFFIX and VTIVX has been stable across timeframes, ranging from 0.96 to 0.98 - a consistent structural relationship.

Return for Risk

MFFIX vs. VTIVX — Risk / Return Rank

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

MFFIX

MFFIX Risk / Return Rank: 51
MFFIX Sharpe Ratio Rank: 52
MFFIX Sortino Ratio Rank: 50
MFFIX Omega Ratio Rank: 50
MFFIX Calmar Ratio Rank: 48
MFFIX Martin Ratio Rank: 56

VTIVX

VTIVX Risk / Return Rank: 72
VTIVX Sharpe Ratio Rank: 76
VTIVX Sortino Ratio Rank: 72
VTIVX Omega Ratio Rank: 70
VTIVX Calmar Ratio Rank: 68
VTIVX Martin Ratio Rank: 75

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.

MFFIX vs. VTIVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Lifetime 2050 Fund (MFFIX) and Vanguard Target Retirement 2045 Fund (VTIVX). 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.

	MFFIX	VTIVX	Difference
Sharpe ratio Return per unit of total volatility	2.12	2.53	-0.41
Sortino ratio Return per unit of downside risk	3.00	3.52	-0.53
Omega ratio Gain probability vs. loss probability	1.39	1.47	-0.08
Calmar ratio Return relative to maximum drawdown	2.65	3.19	-0.54
Martin ratio Return relative to average drawdown	11.29	14.14	-2.85
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MFFIX vs. VTIVX - Sharpe Ratio Comparison

The current MFFIX Sharpe Ratio is 2.12, which is comparable to the VTIVX Sharpe Ratio of 2.53. The chart below compares the historical Sharpe Ratios of MFFIX and VTIVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MFFIX	VTIVX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.12	2.53	-0.41
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.64	0.70	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	0.77	-0.02
Sharpe Ratio (All Time) Calculated using the full available price history	0.72	0.55	+0.17

Drawdowns

MFFIX vs. VTIVX - Drawdown Comparison

The maximum MFFIX drawdown since its inception was -32.80%, smaller than the maximum VTIVX drawdown of -51.69%. Use the drawdown chart below to compare losses from any high point for MFFIX and VTIVX.

Drawdown Indicators

	MFFIX	VTIVX	Difference
Max Drawdown Largest peak-to-trough decline	-32.80%	-51.69%	+18.89%
Max Drawdown (1Y) Largest decline over 1 year	-8.31%	-8.30%	-0.01%
Max Drawdown (3Y) Largest decline over 3 years	-14.51%	-13.40%	-1.11%
Max Drawdown (5Y) Largest decline over 5 years	-23.17%	-25.10%	+1.93%
Max Drawdown (10Y) Largest decline over 10 years	-32.80%	-31.42%	-1.38%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.97%	-6.33%	+2.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.95%	1.87%	+0.08%

Volatility

MFFIX vs. VTIVX - Volatility Comparison

The current volatility for MFS Lifetime 2050 Fund (MFFIX) is 2.86%, while Vanguard Target Retirement 2045 Fund (VTIVX) has a volatility of 3.18%. This indicates that MFFIX experiences smaller price fluctuations and is considered to be less risky than VTIVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MFFIX	VTIVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.86%	3.18%	-0.32%
Volatility (6M) Calculated over the trailing 6-month period	8.22%	8.38%	-0.16%
Volatility (1Y) Calculated over the trailing 1-year period	10.50%	10.52%	-0.02%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	13.97%	13.49%	+0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.95%	14.79%	+0.16%

MFFIX vs. VTIVX - Expense Ratio Comparison

MFFIX has a 0.00% expense ratio, which is lower than VTIVX's 0.08% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

MFFIX vs. VTIVX - Dividend Comparison

MFFIX's dividend yield for the trailing twelve months is around 6.87%, more than VTIVX's 2.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MFFIX MFS Lifetime 2050 Fund	6.87%	7.56%	4.81%	3.51%	6.38%	9.06%	2.37%	4.34%	3.88%	3.10%	3.90%	1.76%
VTIVX Vanguard Target Retirement 2045 Fund	2.25%	2.50%	2.36%	2.27%	2.75%	15.40%	1.90%	2.23%	2.52%	0.04%	2.47%	3.29%

Frequently Asked Questions

Can I hold both MFFIX and VTIVX in my portfolio?

With a correlation of 0.96, MFFIX and VTIVX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MFFIX or VTIVX?

VTIVX has higher volatility (3.18%) compared to MFFIX (2.86%). In terms of maximum drawdown, MFFIX dropped -32.80% vs VTIVX's -51.69%.

Which has better risk-adjusted returns?

VTIVX currently has the higher Sharpe Ratio (2.53 vs 2.12), 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.