MFSMX vs. USIG
MFSMX (MFS Maryland Municipal Bond Fund) and USIG (iShares Broad USD Investment Grade Corporate Bond ETF) are both funds - MFSMX is a Municipal Bonds fund managed by MFS, while USIG is a Corporate Bonds fund tracking the ICE BofA US Corporate. Over the past 10 years, MFSMX returned 1.94%/yr vs 2.63%/yr for USIG. At a 0.38 correlation, their price movements are largely independent. MFSMX charges 0.83%/yr vs 0.04%/yr for USIG.
Performance
MFSMX vs. USIG - Performance Comparison
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Returns By Period
In the year-to-date period, MFSMX achieves a 1.76% return, which is significantly higher than USIG's 0.56% return. Over the past 10 years, MFSMX has underperformed USIG with an annualized return of 1.94%, while USIG has yielded a comparatively higher 2.63% annualized return.
MFSMX
- 1D
- 0.30%
- 1M
- 0.98%
- YTD
- 1.76%
- 6M
- 2.14%
- 1Y
- 7.81%
- 3Y*
- 3.95%
- 5Y*
- 0.70%
- 10Y*
- 1.94%
USIG
- 1D
- -0.23%
- 1M
- 0.56%
- YTD
- 0.56%
- 6M
- 0.37%
- 1Y
- 6.04%
- 3Y*
- 5.46%
- 5Y*
- 0.72%
- 10Y*
- 2.63%
MFSMX vs. USIG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MFSMX MFS Maryland Municipal Bond Fund | 1.76% | 4.70% | 1.68% | 5.96% | -10.48% | 2.55% | 3.98% | 6.65% | 1.29% | 4.40% |
USIG iShares Broad USD Investment Grade Corporate Bond ETF | 0.56% | 7.86% | 2.56% | 8.71% | -15.30% | -1.34% | 9.44% | 13.99% | -2.21% | 5.75% |
Correlation
The correlation between MFSMX and USIG is 0.50, 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 | 0.50 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.48 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.42 |
Correlation (All Time) Calculated using the full available price history since Jan 12, 2007 | 0.38 |
The correlation between MFSMX and USIG shifts across timeframes, from 0.38 (all time) to 0.54 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MFSMX vs. USIG — Risk / Return Rank
MFSMX
USIG
MFSMX vs. USIG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS Maryland Municipal Bond Fund (MFSMX) and iShares Broad USD Investment Grade Corporate Bond ETF (USIG). 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.
| MFSMX | USIG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.99 | ||
| Sortino ratioReturn per unit of downside risk | +1.75 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.26 | +0.33 |
| Calmar ratioReturn relative to maximum drawdown | 2.54 | 2.17 | +0.36 |
| Martin ratioReturn relative to average drawdown | 9.05 | 7.07 | +1.98 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MFSMX | USIG | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.46 | 1.47 | +0.99 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.16 | 0.11 | +0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.39 | +0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.17 | 0.54 | +0.64 |
Drawdowns
MFSMX vs. USIG - Drawdown Comparison
The maximum MFSMX drawdown since its inception was -15.71%, smaller than the maximum USIG drawdown of -22.21%. Use the drawdown chart below to compare losses from any high point for MFSMX and USIG.
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Drawdown Indicators
| MFSMX | USIG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.71% | -22.21% | +6.50% |
Max Drawdown (1Y)Largest decline over 1 year | -3.05% | -2.79% | -0.26% |
Max Drawdown (3Y)Largest decline over 3 years | -6.64% | -6.10% | -0.54% |
Max Drawdown (5Y)Largest decline over 5 years | -15.37% | -21.45% | +6.08% |
Max Drawdown (10Y)Largest decline over 10 years | -15.37% | -21.45% | +6.08% |
Current DrawdownCurrent decline from peak | -0.06% | -0.97% | +0.91% |
Average DrawdownAverage peak-to-trough decline | -2.19% | -3.42% | +1.23% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 0.86% | -0.01% |
Volatility
MFSMX vs. USIG - Volatility Comparison
MFS Maryland Municipal Bond Fund (MFSMX) and iShares Broad USD Investment Grade Corporate Bond ETF (USIG) have volatilities of 1.29% and 1.27%, 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.
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Volatility by Period
| MFSMX | USIG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.29% | 1.27% | +0.02% |
Volatility (6M)Calculated over the trailing 6-month period | 2.39% | 3.04% | -0.65% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.16% | 4.13% | -0.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.32% | 6.82% | -2.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.14% | 6.82% | -2.68% |
MFSMX vs. USIG - Expense Ratio Comparison
MFSMX has a 0.83% expense ratio, which is higher than USIG's 0.04% expense ratio.
Dividends
MFSMX vs. USIG - Dividend Comparison
MFSMX's dividend yield for the trailing twelve months is around 3.21%, less than USIG's 4.74% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MFSMX MFS Maryland Municipal Bond Fund | 3.21% | 4.22% | 2.86% | 2.52% | 1.78% | 1.89% | 2.49% | 3.25% | 3.35% | 3.47% | 3.50% | 3.69% |
USIG iShares Broad USD Investment Grade Corporate Bond ETF | 4.74% | 4.62% | 4.51% | 3.94% | 3.14% | 2.33% | 2.82% | 3.37% | 3.44% | 3.03% | 2.87% | 3.24% |
Frequently Asked Questions
MFSMX and USIG have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MFSMX has higher volatility (1.29%) compared to USIG (1.27%). In terms of maximum drawdown, MFSMX dropped -15.71% vs USIG's -22.21%.
MFSMX currently has the higher Sharpe Ratio (2.46 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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