MFIOX vs. MHOIX
MFIOX (MFS Income Fund) and MHOIX (MFS Global High Yield Fund) are both mutual funds - MFIOX is a Intermediate Core-Plus Bond fund managed by MFS, while MHOIX is a High Yield Bonds fund managed by MFS. Over the past 10 years, MFIOX returned 2.72%/yr vs 4.88%/yr for MHOIX. At a 0.49 correlation, their price movements are largely independent. MFIOX charges 0.73%/yr vs 0.81%/yr for MHOIX.
Performance
MFIOX vs. MHOIX - Performance Comparison
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Returns By Period
In the year-to-date period, MFIOX achieves a 0.63% return, which is significantly lower than MHOIX's 1.35% return. Over the past 10 years, MFIOX has underperformed MHOIX with an annualized return of 2.72%, while MHOIX has yielded a comparatively higher 4.88% annualized return.
MFIOX
- 1D
- 0.17%
- 1M
- 0.92%
- YTD
- 0.63%
- 6M
- 1.01%
- 1Y
- 5.31%
- 3Y*
- 5.05%
- 5Y*
- 0.55%
- 10Y*
- 2.72%
MHOIX
- 1D
- 0.00%
- 1M
- 0.62%
- YTD
- 1.35%
- 6M
- 1.95%
- 1Y
- 6.72%
- 3Y*
- 8.24%
- 5Y*
- 3.63%
- 10Y*
- 4.88%
MFIOX vs. MHOIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MFIOX MFS Income Fund | 0.63% | 7.37% | 2.66% | 7.46% | -14.14% | -0.28% | 9.47% | 11.36% | -2.38% | 5.73% |
MHOIX MFS Global High Yield Fund | 1.35% | 8.54% | 7.55% | 11.97% | -10.72% | 2.97% | 4.28% | 14.28% | -2.83% | 7.36% |
Correlation
The correlation between MFIOX and MHOIX is 0.51, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.51 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.52 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.45 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 1998 | 0.49 |
The correlation between MFIOX and MHOIX has been stable across timeframes, ranging from 0.45 to 0.54 - a consistent structural relationship.
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Return for Risk
MFIOX vs. MHOIX — Risk / Return Rank
MFIOX
MHOIX
MFIOX vs. MHOIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS Income Fund (MFIOX) and MFS Global High Yield Fund (MHOIX). 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.
| MFIOX | MHOIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.79 | ||
| Sortino ratioReturn per unit of downside risk | -1.61 | ||
| Omega ratioGain probability vs. loss probability | 1.27 | 1.56 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 1.89 | 2.97 | -1.08 |
| Martin ratioReturn relative to average drawdown | 5.80 | 14.29 | -8.49 |
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Drawdowns
MFIOX vs. MHOIX - Drawdown Comparison
The maximum MFIOX drawdown since its inception was -19.07%, smaller than the maximum MHOIX drawdown of -40.07%. Use the drawdown chart below to compare losses from any high point for MFIOX and MHOIX.
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Drawdown Indicators
| MFIOX | MHOIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -19.07% | -40.07% | +21.00% |
Max Drawdown (1Y)Largest decline over 1 year | -2.81% | -2.27% | -0.54% |
Max Drawdown (3Y)Largest decline over 3 years | -5.88% | -3.63% | -2.25% |
Max Drawdown (5Y)Largest decline over 5 years | -19.07% | -16.50% | -2.57% |
Max Drawdown (10Y)Largest decline over 10 years | -19.07% | -19.76% | +0.69% |
Current DrawdownCurrent decline from peak | -0.97% | -0.18% | -0.79% |
Average DrawdownAverage peak-to-trough decline | -2.18% | -3.39% | +1.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.47% | +0.45% |
Volatility
MFIOX vs. MHOIX - Volatility Comparison
MFS Income Fund (MFIOX) has a higher volatility of 1.14% compared to MFS Global High Yield Fund (MHOIX) at 0.83%. This indicates that MFIOX's price experiences larger fluctuations and is considered to be riskier than MHOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MFIOX | MHOIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.14% | 0.83% | +0.31% |
Volatility (6M)Calculated over the trailing 6-month period | 2.69% | 2.30% | +0.39% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.63% | 2.98% | +0.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.52% | 4.91% | +0.61% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.88% | 5.06% | -0.18% |
MFIOX vs. MHOIX - Expense Ratio Comparison
MFIOX has a 0.73% expense ratio, which is lower than MHOIX's 0.81% expense ratio.
Dividends
MFIOX vs. MHOIX - Dividend Comparison
MFIOX's dividend yield for the trailing twelve months is around 4.70%, less than MHOIX's 5.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MFIOX MFS Income Fund | 4.70% | 4.70% | 5.04% | 4.72% | 2.24% | 3.29% | 2.80% | 3.04% | 3.07% | 3.26% | 3.61% | 4.35% |
MHOIX MFS Global High Yield Fund | 5.26% | 5.27% | 4.68% | 4.03% | 7.71% | 5.57% | 4.45% | 4.79% | 4.96% | 4.99% | 5.84% | 7.64% |
Frequently Asked Questions
MFIOX and MHOIX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MFIOX has higher volatility (1.14%) compared to MHOIX (0.83%). In terms of maximum drawdown, MFIOX dropped -19.07% vs MHOIX's -40.07%.
MHOIX currently has the higher Sharpe Ratio (2.26 vs 1.47), 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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