MFSG vs. MFSM

Last updated Jun 23, 2026

MFSG (MFS Active Growth ETF) and MFSM (MFS Active Intermediate Muni Bond ETF) are both exchange-traded funds - MFSG is a Large Cap Growth Equities fund actively managed by MFS, while MFSM is a Municipal Bonds fund actively managed by MFS. Both are actively managed. Over the past year, MFSG returned 20.82% vs 7.16% for MFSM. At a 0.19 correlation, their price movements are largely independent. MFSG charges 0.49%/yr vs 0.34%/yr for MFSM.

Performance

MFSG vs. MFSM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Active Growth ETF (MFSG) and MFS Active Intermediate Muni Bond ETF (MFSM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MFSG achieves a 6.80% return, which is significantly higher than MFSM's 2.07% return.

MFSG

• 1D: -1.37%
• 1M: 0.70%
• YTD: 6.80%
• 6M: 6.76%
• 1Y: 20.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —

MFSM

• 1D: 0.02%
• 1M: 1.48%
• YTD: 2.07%
• 6M: 2.49%
• 1Y: 7.16%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MFSG vs. MFSM - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MFSG MFS Active Growth ETF	6.80%	14.51%	-2.99%
MFSM MFS Active Intermediate Muni Bond ETF	2.07%	5.25%	-1.14%

Correlation

The correlation between MFSG and MFSM is 0.28, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.28
Correlation (All Time) Calculated using the full available price history since Dec 5, 2024	0.19

Return for Risk

MFSG vs. MFSM — Risk / Return Rank

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

MFSG

MFSG Risk / Return Rank: 32
MFSG Sharpe Ratio Rank: 36
MFSG Sortino Ratio Rank: 34
MFSG Omega Ratio Rank: 34
MFSG Calmar Ratio Rank: 27
MFSG Martin Ratio Rank: 32

MFSM

MFSM Risk / Return Rank: 77
MFSM Sharpe Ratio Rank: 87
MFSM Sortino Ratio Rank: 92
MFSM Omega Ratio Rank: 92
MFSM Calmar Ratio Rank: 57
MFSM Martin Ratio Rank: 58

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.

MFSG vs. MFSM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Active Growth ETF (MFSG) and MFS Active Intermediate Muni Bond ETF (MFSM). 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.

	MFSG	MFSM	Difference
Sharpe ratio: Return per unit of total volatility	1.23	2.75	-1.52
Sortino ratio: Return per unit of downside risk	1.74	4.20	-2.46
Omega ratio: Gain probability vs. loss probability	1.22	1.59	-0.37
Calmar ratio: Return relative to maximum drawdown	1.30	2.72	-1.42
Martin ratio: Return relative to average drawdown	4.46	9.99	-5.53

MFSG vs. MFSM - Sharpe Ratio Comparison

The current MFSG Sharpe Ratio is 1.23, which is lower than the MFSM Sharpe Ratio of 2.75. The chart below compares the historical Sharpe Ratios of MFSG and MFSM, 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

MFSG vs. MFSM - Drawdown Comparison

The maximum MFSG drawdown since its inception was -23.24%, which is greater than MFSM's maximum drawdown of -3.86%. Use the drawdown chart below to compare losses from any high point for MFSG and MFSM.

Drawdown Indicators

	MFSG	MFSM	Difference
Max Drawdown Largest peak-to-trough decline	-23.24%	-3.86%	-19.38%
Max Drawdown (1Y) Largest decline over 1 year	-16.15%	-2.65%	-13.50%
Current Drawdown Current decline from peak	-1.69%	-0.18%	-1.51%
Average Drawdown Average peak-to-trough decline	-4.60%	-0.86%	-3.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.68%	0.72%	+3.96%

Volatility

MFSG vs. MFSM - Volatility Comparison

MFS Active Growth ETF (MFSG) has a higher volatility of 6.70% compared to MFS Active Intermediate Muni Bond ETF (MFSM) at 0.71%. This indicates that MFSG's price experiences larger fluctuations and is considered to be riskier than MFSM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MFSG	MFSM	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.70%	0.71%	+5.99%
Volatility (6M) Calculated over the trailing 6-month period	13.64%	2.01%	+11.63%
Volatility (1Y) Calculated over the trailing 1-year period	17.05%	2.62%	+14.43%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.93%	3.41%	+18.52%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.93%	3.41%	+18.52%

MFSG vs. MFSM - Expense Ratio Comparison

MFSG has a 0.49% expense ratio, which is higher than MFSM's 0.34% expense ratio.

Dividends

MFSG vs. MFSM - Dividend Comparison

MFSG's dividend yield for the trailing twelve months is around 0.07%, less than MFSM's 3.54% yield.

Position	TTM	2025	2024
MFSG MFS Active Growth ETF	0.07%	0.08%	0.00%
MFSM MFS Active Intermediate Muni Bond ETF	3.54%	3.53%	0.23%

Frequently Asked Questions

Can I hold both MFSG and MFSM in my portfolio?

MFSG and MFSM have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MFSG or MFSM?

MFSG has higher volatility (6.70%) compared to MFSM (0.71%). In terms of maximum drawdown, MFSG dropped -23.24% vs MFSM's -3.86%.

Which ETF is better, MFSG or MFSM?

On 1-year performance, MFSG leads with 20.82% vs 7.16% for MFSM. On fees, MFSM is cheaper at 0.34% per year. On volatility, MFSM has been the lower-risk option at 0.71%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MFSG or MFSM?

Over the 1-year period, MFSG has performed better with a 20.82% return vs 7.16%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MFSG or MFSM?

MFSM is cheaper with a 0.34% expense ratio, compared with 0.49% for MFSG.

Which ETF pays a higher dividend yield, MFSG or MFSM?

MFSM has the higher dividend yield at 3.54%, compared with 0.07% for MFSG.

What is the main difference between MFSG and MFSM?

MFSG is categorized as Large Cap Growth Equities, while MFSM is Municipal Bonds. Their fees differ too: 0.49% for MFSG and 0.34% for MFSM.

Which has better risk-adjusted returns?

MFSM currently has the higher Sharpe Ratio (2.75 vs 1.23), 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.