MFRFX vs. SGOIX

Last updated Jun 4, 2026

MFRFX (MFS Research Fund) and SGOIX (First Eagle Overseas Fund Class I) are both Large Cap Blend Equities funds. Over the past 10 years, MFRFX returned 13.14%/yr vs 8.61%/yr for SGOIX. At a 0.48 correlation, their price movements are largely independent. MFRFX charges 0.78%/yr vs 0.88%/yr for SGOIX.

Performance

MFRFX vs. SGOIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Research Fund (MFRFX) and First Eagle Overseas Fund Class I (SGOIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MFRFX achieves a 7.13% return, which is significantly lower than SGOIX's 10.73% return. Over the past 10 years, MFRFX has outperformed SGOIX with an annualized return of 13.14%, while SGOIX has yielded a comparatively lower 8.61% annualized return.

MFRFX

• 1D: -0.05%
• 1M: 3.78%
• YTD: 7.13%
• 6M: 7.31%
• 1Y: 19.90%
• 3Y*: 17.25%
• 5Y*: 10.15%
• 10Y*: 13.14%

SGOIX

• 1D: 0.41%
• 1M: 3.52%
• YTD: 10.73%
• 6M: 13.21%
• 1Y: 30.10%
• 3Y*: 19.37%
• 5Y*: 10.33%
• 10Y*: 8.61%

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

MFRFX vs. SGOIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MFRFX MFS Research Fund	7.13%	12.80%	18.77%	22.49%	-17.21%	24.66%	16.63%	33.13%	-4.51%	23.31%
SGOIX First Eagle Overseas Fund Class I	10.73%	39.06%	6.45%	10.73%	-7.86%	5.25%	7.25%	17.90%	-9.95%	14.38%

Correlation

The correlation between MFRFX and SGOIX is 0.61, 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	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.67
Correlation (All Time) Calculated using the full available price history since Jan 5, 1999	0.48

The correlation between MFRFX and SGOIX shifts across timeframes, from 0.48 (all time) to 0.67 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

MFRFX vs. SGOIX — Risk / Return Rank

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

MFRFX

MFRFX Risk / Return Rank: 37
MFRFX Sharpe Ratio Rank: 37
MFRFX Sortino Ratio Rank: 35
MFRFX Omega Ratio Rank: 37
MFRFX Calmar Ratio Rank: 33
MFRFX Martin Ratio Rank: 44

SGOIX

SGOIX Risk / Return Rank: 57
SGOIX Sharpe Ratio Rank: 71
SGOIX Sortino Ratio Rank: 58
SGOIX Omega Ratio Rank: 68
SGOIX Calmar Ratio Rank: 48
SGOIX Martin Ratio Rank: 42

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.

MFRFX vs. SGOIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Research Fund (MFRFX) and First Eagle Overseas Fund Class I (SGOIX). 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.

	MFRFX	SGOIX	Difference
Sharpe ratio: Return per unit of total volatility	1.77	2.45	-0.69
Sortino ratio: Return per unit of downside risk	2.46	3.21	-0.75
Omega ratio: Gain probability vs. loss probability	1.32	1.46	-0.14
Calmar ratio: Return relative to maximum drawdown	2.14	2.63	-0.49
Martin ratio: Return relative to average drawdown	9.26	9.00	+0.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MFRFX vs. SGOIX - Sharpe Ratio Comparison

The current MFRFX Sharpe Ratio is 1.77, which is comparable to the SGOIX Sharpe Ratio of 2.45. The chart below compares the historical Sharpe Ratios of MFRFX and SGOIX, 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

	MFRFX	SGOIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.77	2.45	-0.69
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.87	-0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	0.76	-0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.44	0.89	-0.45

Drawdowns

MFRFX vs. SGOIX - Drawdown Comparison

The maximum MFRFX drawdown since its inception was -56.15%, which is greater than SGOIX's maximum drawdown of -35.54%. Use the drawdown chart below to compare losses from any high point for MFRFX and SGOIX.

Drawdown Indicators

	MFRFX	SGOIX	Difference
Max Drawdown Largest peak-to-trough decline	-56.15%	-35.54%	-20.61%
Max Drawdown (1Y) Largest decline over 1 year	-9.63%	-11.35%	+1.72%
Max Drawdown (3Y) Largest decline over 3 years	-19.19%	-11.35%	-7.84%
Max Drawdown (5Y) Largest decline over 5 years	-23.37%	-21.39%	-1.98%
Max Drawdown (10Y) Largest decline over 10 years	-33.52%	-24.79%	-8.73%
Current Drawdown Current decline from peak	-0.05%	-2.83%	+2.78%
Average Drawdown Average peak-to-trough decline	-14.45%	-4.57%	-9.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.22%	3.31%	-1.09%

Volatility

MFRFX vs. SGOIX - Volatility Comparison

The current volatility for MFS Research Fund (MFRFX) is 2.58%, while First Eagle Overseas Fund Class I (SGOIX) has a volatility of 3.39%. This indicates that MFRFX experiences smaller price fluctuations and is considered to be less risky than SGOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MFRFX	SGOIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.58%	3.39%	-0.81%
Volatility (6M) Calculated over the trailing 6-month period	8.91%	10.23%	-1.32%
Volatility (1Y) Calculated over the trailing 1-year period	11.69%	12.22%	-0.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.56%	11.90%	+4.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.60%	11.42%	+6.18%

MFRFX vs. SGOIX - Expense Ratio Comparison

MFRFX has a 0.78% expense ratio, which is lower than SGOIX's 0.88% expense ratio.

Dividends

MFRFX vs. SGOIX - Dividend Comparison

MFRFX's dividend yield for the trailing twelve months is around 15.02%, more than SGOIX's 7.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MFRFX MFS Research Fund	15.02%	16.09%	10.04%	6.68%	7.56%	5.43%	5.09%	3.68%	12.52%	8.80%	4.63%	6.98%
SGOIX First Eagle Overseas Fund Class I	7.64%	8.45%	8.49%	2.45%	3.81%	5.92%	0.47%	5.70%	3.36%	3.59%	3.80%	1.58%

Frequently Asked Questions

Can I hold both MFRFX and SGOIX in my portfolio?

MFRFX and SGOIX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MFRFX or SGOIX?

SGOIX has higher volatility (3.39%) compared to MFRFX (2.58%). In terms of maximum drawdown, MFRFX dropped -56.15% vs SGOIX's -35.54%.

Which has better risk-adjusted returns?

SGOIX currently has the higher Sharpe Ratio (2.45 vs 1.77), 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.