MFHVX vs. MFHIX

Last updated Aug 5, 2026

MFHVX (MetLife Opportunistic High Yield Fund) and MFHIX (MetLife Opportunistic High Yield Fund Institutional Class) are both High Yield Bonds funds from MetLife. Over the past 5 years, MFHVX returned 4.23%/yr vs 5.89%/yr for MFHIX. Their correlation of 0.90 means they have usually moved in the same direction. MFHVX charges 1.43%/yr vs 0.75%/yr for MFHIX.

Performance

MFHVX vs. MFHIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MetLife Opportunistic High Yield Fund (MFHVX) and MetLife Opportunistic High Yield Fund Institutional Class (MFHIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with MFHVX having a 4.56% return and MFHIX slightly higher at 4.58%.

MFHVX

• 1D: 0.37%
• 1M: 1.11%
• 6M: 3.16%
• YTD: 4.56%
• 1Y: 6.08%
• 3Y*: 8.23%
• 5Y*: 4.23%
• 10Y*: —
• ALL TIME*: 5.93%

MFHIX

• 1D: 0.37%
• 1M: 1.13%
• 6M: 3.15%
• YTD: 4.58%
• 1Y: 6.20%
• 3Y*: 8.43%
• 5Y*: 5.89%
• 10Y*: —
• ALL TIME*: 7.12%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MFHIX MetLife Opportunistic High Yield Fund Institutional Class	$0.00	$0.00	$0.00
MFHVX MetLife Opportunistic High Yield Fund	$0.00	$0.00	$0.00

MFHVX vs. MFHIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MFHVX MetLife Opportunistic High Yield Fund	4.56%	4.56%	9.72%	14.09%	-12.06%	10.53%	6.88%	12.81%	-3.06%
MFHIX MetLife Opportunistic High Yield Fund Institutional Class	4.58%	4.82%	10.10%	14.35%	-5.59%	10.67%	7.24%	13.00%	-3.06%

Correlation

The correlation between MFHVX and MFHIX is 0.83, meaning they have usually moved in the same direction, including during past declines.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.83
Correlation (3Y) Balances recent behavior with more history.	0.83
Correlation (5Y) Shows whether the relationship held over a longer period.	0.89
Correlation (All Time) Calculated using the full available price history since Dec 3, 2018	0.90

The correlation between MFHVX and MFHIX has been stable across timeframes, ranging from 0.83 to 0.90 - a consistent structural relationship.

Return for Risk

MFHVX vs. MFHIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MFHVX

MFHVX Risk / Return Rank: 78
MFHVX Sharpe Ratio Rank: 91
MFHVX Sortino Ratio Rank: 90
MFHVX Omega Ratio Rank: 92
MFHVX Calmar Ratio Rank: 74
MFHVX Martin Ratio Rank: 43

MFHIX

MFHIX Risk / Return Rank: 78
MFHIX Sharpe Ratio Rank: 90
MFHIX Sortino Ratio Rank: 91
MFHIX Omega Ratio Rank: 92
MFHIX Calmar Ratio Rank: 72
MFHIX Martin Ratio Rank: 44

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MFHVX vs. MFHIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MetLife Opportunistic High Yield Fund (MFHVX) and MetLife Opportunistic High Yield Fund Institutional Class (MFHIX). 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.

	MFHVX	MFHIX	Difference
Sharpe ratio: Return per unit of total volatility	2.35	2.38	-0.03
Sortino ratio: Return per unit of downside risk	3.40	3.50	-0.09
Omega ratio: Gain probability vs. loss probability	1.49	1.49	0.00
Calmar ratio: Return relative to maximum drawdown	2.63	2.66	-0.03
Martin ratio: Return relative to average drawdown	6.67	7.18	-0.51

MFHVX vs. MFHIX - Sharpe Ratio Comparison

The current MFHVX Sharpe Ratio is 2.35, which is comparable to the MFHIX Sharpe Ratio of 2.38. The chart below compares the historical Sharpe Ratios of MFHVX and MFHIX, 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

MFHVX vs. MFHIX - Drawdown Comparison

The maximum MFHVX drawdown since its inception was -20.95%, roughly equal to the maximum MFHIX drawdown of -21.02%. Use the drawdown chart below to compare losses from any high point for MFHVX and MFHIX.

Drawdown Indicators

	MFHVX	MFHIX	Difference
Max Drawdown Largest peak-to-trough decline	-20.95%	-21.02%	+0.07%
Max Drawdown (1Y) Largest decline over 1 year	-2.43%	-2.45%	+0.02%
Max Drawdown (3Y) Largest decline over 3 years	-5.14%	-5.09%	-0.05%
Max Drawdown (5Y) Largest decline over 5 years	-13.54%	-12.02%	-1.52%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-3.01%	-2.02%	-0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.95%	0.90%	+0.05%

Volatility

MFHVX vs. MFHIX - Volatility Comparison

MetLife Opportunistic High Yield Fund (MFHVX) and MetLife Opportunistic High Yield Fund Institutional Class (MFHIX) have volatilities of 0.58% and 0.61%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MFHVX	MFHIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.58%	0.61%	-0.03%
Volatility (6M) Calculated over the trailing 6-month period	2.04%	2.05%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	2.73%	2.74%	-0.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.47%	4.58%	-1.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.38%	5.02%	-0.64%

MFHVX vs. MFHIX - Expense Ratio Comparison

MFHVX has a 1.43% expense ratio, which is higher than MFHIX's 0.75% expense ratio.

Dividends

MFHVX vs. MFHIX - Dividend Comparison

MFHVX's dividend yield for the trailing twelve months is around 9.07%, less than MFHIX's 9.31% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
MFHIX MetLife Opportunistic High Yield Fund Institutional Class	9.31%	9.64%	9.20%	9.89%	16.17%	8.68%	7.52%	8.78%	0.04%
MFHVX MetLife Opportunistic High Yield Fund	9.07%	9.41%	8.98%	9.66%	8.95%	8.44%	7.30%	8.61%	0.04%

Frequently Asked Questions

Can I hold both MFHVX and MFHIX in my portfolio?

MFHVX and MFHIX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MFHVX or MFHIX?

MFHIX has higher volatility (0.61%) compared to MFHVX (0.58%). In terms of maximum drawdown, MFHVX dropped -20.95% vs MFHIX's -21.02%.

Which has better risk-adjusted returns?

MFHIX currently has the higher Sharpe Ratio (2.38 vs 2.35), 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.