MFGSX vs. MIGFX

Last updated Jun 4, 2026

MFGSX (MFS Government Securities Fund) and MIGFX (MFS Massachusetts Investors Growth Stock Fund) are both mutual funds - MFGSX is a Government Bonds fund managed by MFS, while MIGFX is a Large Cap Growth Equities fund managed by MFS. Over the past 10 years, MFGSX returned 0.56%/yr vs 14.65%/yr for MIGFX. At a correlation of -0.02, they often move in opposite directions. MFGSX charges 0.76%/yr vs 0.70%/yr for MIGFX.

Performance

MFGSX vs. MIGFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Government Securities Fund (MFGSX) and MFS Massachusetts Investors Growth Stock Fund (MIGFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MFGSX achieves a -0.15% return, which is significantly higher than MIGFX's -0.34% return. Over the past 10 years, MFGSX has underperformed MIGFX with an annualized return of 0.56%, while MIGFX has yielded a comparatively higher 14.65% annualized return.

MFGSX

• 1D: 0.00%
• 1M: 0.30%
• YTD: -0.15%
• 6M: -0.33%
• 1Y: 4.32%
• 3Y*: 2.53%
• 5Y*: -0.79%
• 10Y*: 0.56%

MIGFX

• 1D: -0.62%
• 1M: 3.14%
• YTD: -0.34%
• 6M: 0.15%
• 1Y: 9.70%
• 3Y*: 15.64%
• 5Y*: 10.07%
• 10Y*: 14.65%

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

MFGSX vs. MIGFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MFGSX MFS Government Securities Fund	-0.15%	6.62%	-0.16%	3.28%	-12.54%	-2.18%	6.25%	6.20%	0.27%	1.93%
MIGFX MFS Massachusetts Investors Growth Stock Fund	-0.34%	9.97%	27.25%	24.13%	-19.20%	26.06%	22.55%	39.89%	0.81%	28.68%

Correlation

The correlation between MFGSX and MIGFX is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.20
Correlation (3Y) Calculated over the trailing 3-year period	0.18
Correlation (5Y) Calculated over the trailing 5-year period	0.14
Correlation (10Y) Calculated over the trailing 10-year period	-0.00
Correlation (All Time) Calculated using the full available price history since Jul 26, 1984	-0.02

The correlation between MFGSX and MIGFX shifts across timeframes, from -0.02 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MFGSX vs. MIGFX — Risk / Return Rank

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

MFGSX

MFGSX Risk / Return Rank: 14
MFGSX Sharpe Ratio Rank: 15
MFGSX Sortino Ratio Rank: 15
MFGSX Omega Ratio Rank: 14
MFGSX Calmar Ratio Rank: 14
MFGSX Martin Ratio Rank: 14

MIGFX

MIGFX Risk / Return Rank: 9
MIGFX Sharpe Ratio Rank: 11
MIGFX Sortino Ratio Rank: 10
MIGFX Omega Ratio Rank: 10
MIGFX Calmar Ratio Rank: 8
MIGFX Martin Ratio Rank: 8

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.

MFGSX vs. MIGFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Government Securities Fund (MFGSX) and MFS Massachusetts Investors Growth Stock Fund (MIGFX). 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.

	MFGSX	MIGFX	Difference
Sharpe ratio: Return per unit of total volatility	1.06	0.83	+0.23
Sortino ratio: Return per unit of downside risk	1.57	1.22	+0.35
Omega ratio: Gain probability vs. loss probability	1.19	1.15	+0.04
Calmar ratio: Return relative to maximum drawdown	1.28	0.76	+0.51
Martin ratio: Return relative to average drawdown	3.88	2.55	+1.33
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MFGSX vs. MIGFX - Sharpe Ratio Comparison

The current MFGSX Sharpe Ratio is 1.06, which is comparable to the MIGFX Sharpe Ratio of 0.83. The chart below compares the historical Sharpe Ratios of MFGSX and MIGFX, 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

	MFGSX	MIGFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.06	0.83	+0.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.13	0.58	-0.71
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.12	0.81	-0.69
Sharpe Ratio (All Time) Calculated using the full available price history	0.81	0.39	+0.42

Drawdowns

MFGSX vs. MIGFX - Drawdown Comparison

The maximum MFGSX drawdown since its inception was -19.50%, smaller than the maximum MIGFX drawdown of -61.83%. Use the drawdown chart below to compare losses from any high point for MFGSX and MIGFX.

Drawdown Indicators

	MFGSX	MIGFX	Difference
Max Drawdown Largest peak-to-trough decline	-19.50%	-61.83%	+42.33%
Max Drawdown (1Y) Largest decline over 1 year	-3.39%	-13.77%	+10.38%
Max Drawdown (3Y) Largest decline over 3 years	-6.92%	-18.68%	+11.76%
Max Drawdown (5Y) Largest decline over 5 years	-18.14%	-26.67%	+8.53%
Max Drawdown (10Y) Largest decline over 10 years	-19.50%	-32.42%	+12.92%
Current Drawdown Current decline from peak	-6.92%	-2.40%	-4.52%
Average Drawdown Average peak-to-trough decline	-3.31%	-18.96%	+15.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.11%	4.11%	-3.00%

Volatility

MFGSX vs. MIGFX - Volatility Comparison

The current volatility for MFS Government Securities Fund (MFGSX) is 1.45%, while MFS Massachusetts Investors Growth Stock Fund (MIGFX) has a volatility of 3.42%. This indicates that MFGSX experiences smaller price fluctuations and is considered to be less risky than MIGFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MFGSX	MIGFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.45%	3.42%	-1.97%
Volatility (6M) Calculated over the trailing 6-month period	2.93%	9.84%	-6.91%
Volatility (1Y) Calculated over the trailing 1-year period	4.10%	12.68%	-8.58%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.92%	17.52%	-11.60%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.78%	18.21%	-13.43%

MFGSX vs. MIGFX - Expense Ratio Comparison

MFGSX has a 0.76% expense ratio, which is higher than MIGFX's 0.70% expense ratio.

Dividends

MFGSX vs. MIGFX - Dividend Comparison

MFGSX's dividend yield for the trailing twelve months is around 3.56%, less than MIGFX's 11.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MFGSX MFS Government Securities Fund	3.56%	3.47%	3.13%	2.51%	1.19%	1.03%	1.83%	2.11%	2.32%	2.43%	2.31%	2.16%
MIGFX MFS Massachusetts Investors Growth Stock Fund	11.43%	11.39%	17.15%	4.11%	4.49%	10.47%	7.43%	7.39%	10.76%	6.87%	5.12%	6.51%

Frequently Asked Questions

Can I hold both MFGSX and MIGFX in my portfolio?

MFGSX and MIGFX 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.

Which is riskier, MFGSX or MIGFX?

MIGFX has higher volatility (3.42%) compared to MFGSX (1.45%). In terms of maximum drawdown, MFGSX dropped -19.50% vs MIGFX's -61.83%.

Which has better risk-adjusted returns?

MFGSX currently has the higher Sharpe Ratio (1.06 vs 0.83), 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.