MFSCX vs. SPYI

Last updated Apr 1, 2026

Compare and contrast key facts about MFS South Carolina Municipal Bond Fund (MFSCX) and NEOS S&P 500 High Income ETF (SPYI).

MFSCX is managed by MFS. It was launched on Oct 30, 1984. SPYI is an actively managed fund by Neos. It was launched on Aug 29, 2022.

Performance

MFSCX vs. SPYI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS South Carolina Municipal Bond Fund (MFSCX) and NEOS S&P 500 High Income ETF (SPYI). The values are adjusted to include any dividend payments, if applicable.

MFSCX vs. SPYI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022
MFSCX MFS South Carolina Municipal Bond Fund	-0.80%	4.22%	1.97%	5.59%	-0.88%
SPYI NEOS S&P 500 High Income ETF	-3.13%	16.67%	19.03%	18.09%	-2.44%

Returns By Period

In the year-to-date period, MFSCX achieves a -0.80% return, which is significantly higher than SPYI's -3.13% return.

MFSCX

• 1D: 0.18%
• 1M: -2.94%
• YTD: -0.80%
• 6M: 0.81%
• 1Y: 3.43%
• 3Y*: 2.72%
• 5Y*: 0.20%
• 10Y*: 1.49%

SPYI

• 1D: 2.91%
• 1M: -4.27%
• YTD: -3.13%
• 6M: 0.26%
• 1Y: 16.35%
• 3Y*: 14.25%
• 5Y*: —
• 10Y*: —

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

MFSCX vs. SPYI - Expense Ratio Comparison

MFSCX has a 0.84% expense ratio, which is higher than SPYI's 0.68% expense ratio.

MFSCX

MFS South Carolina Municipal Bond Fund

SPYI

NEOS S&P 500 High Income ETF

Return for Risk

MFSCX vs. SPYI — Risk / Return Rank

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

MFSCX

MFSCX Risk / Return Rank: 32
MFSCX Sharpe Ratio Rank: 32
MFSCX Sortino Ratio Rank: 26
MFSCX Omega Ratio Rank: 48
MFSCX Calmar Ratio Rank: 29
MFSCX Martin Ratio Rank: 22

SPYI

SPYI Risk / Return Rank: 69
SPYI Sharpe Ratio Rank: 61
SPYI Sortino Ratio Rank: 64
SPYI Omega Ratio Rank: 73
SPYI Calmar Ratio Rank: 66
SPYI Martin Ratio Rank: 81

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.

MFSCX vs. SPYI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS South Carolina Municipal Bond Fund (MFSCX) and NEOS S&P 500 High Income ETF (SPYI). 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.

	MFSCX	SPYI	Difference
Sharpe ratio Return per unit of total volatility	0.75	1.01	-0.26
Sortino ratio Return per unit of downside risk	1.04	1.53	-0.50
Omega ratio Gain probability vs. loss probability	1.20	1.26	-0.05
Calmar ratio Return relative to maximum drawdown	0.85	1.55	-0.70
Martin ratio Return relative to average drawdown	2.43	8.15	-5.72
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MFSCX vs. SPYI - Sharpe Ratio Comparison

The current MFSCX Sharpe Ratio is 0.75, which is comparable to the SPYI Sharpe Ratio of 1.01. The chart below compares the historical Sharpe Ratios of MFSCX and SPYI, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MFSCX	SPYI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.75	1.01	-0.26
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.36	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.07	1.00	+0.08

Correlation

The correlation between MFSCX and SPYI is 0.09, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

MFSCX vs. SPYI - Dividend Comparison

MFSCX's dividend yield for the trailing twelve months is around 3.45%, less than SPYI's 12.50% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MFSCX MFS South Carolina Municipal Bond Fund	3.45%	4.42%	2.86%	2.31%	1.61%	1.60%	2.20%	3.00%	3.13%	3.06%	3.16%	3.19%
SPYI NEOS S&P 500 High Income ETF	12.50%	11.70%	12.04%	12.01%	4.10%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Drawdowns

MFSCX vs. SPYI - Drawdown Comparison

The maximum MFSCX drawdown since its inception was -16.34%, roughly equal to the maximum SPYI drawdown of -16.47%. Use the drawdown chart below to compare losses from any high point for MFSCX and SPYI.

Drawdown Indicators

	MFSCX	SPYI	Difference
Max Drawdown Largest peak-to-trough decline	-16.34%	-16.47%	+0.13%
Max Drawdown (1Y) Largest decline over 1 year	-5.51%	-11.02%	+5.51%
Max Drawdown (5Y) Largest decline over 5 years	-16.34%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-16.34%	—	—
Current Drawdown Current decline from peak	-2.94%	-5.03%	+2.09%
Average Drawdown Average peak-to-trough decline	-2.19%	-1.86%	-0.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.92%	2.09%	-0.17%

Volatility

MFSCX vs. SPYI - Volatility Comparison

The current volatility for MFS South Carolina Municipal Bond Fund (MFSCX) is 1.30%, while NEOS S&P 500 High Income ETF (SPYI) has a volatility of 5.08%. This indicates that MFSCX experiences smaller price fluctuations and is considered to be less risky than SPYI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MFSCX	SPYI	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.30%	5.08%	-3.78%
Volatility (6M) Calculated over the trailing 6-month period	1.98%	8.27%	-6.29%
Volatility (1Y) Calculated over the trailing 1-year period	5.73%	16.22%	-10.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.47%	13.12%	-8.65%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.12%	13.12%	-9.00%