MFSSX vs. VMATX
MFSSX (MFS Massachusetts Municipal Bond Fund) and VMATX (Vanguard Massachusetts Tax-Exempt Fund) are both Municipal Bonds funds. Over the past 10 years, MFSSX returned 1.78%/yr vs 2.38%/yr for VMATX. Their correlation of 0.84 suggests significant overlap in exposure. MFSSX charges 0.83%/yr vs 0.13%/yr for VMATX.
Performance
MFSSX vs. VMATX - Performance Comparison
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Returns By Period
In the year-to-date period, MFSSX achieves a 2.16% return, which is significantly higher than VMATX's 1.93% return. Over the past 10 years, MFSSX has underperformed VMATX with an annualized return of 1.78%, while VMATX has yielded a comparatively higher 2.38% annualized return.
MFSSX
- 1D
- 0.10%
- 1M
- 1.97%
- YTD
- 2.16%
- 6M
- 2.54%
- 1Y
- 7.42%
- 3Y*
- 3.79%
- 5Y*
- 0.50%
- 10Y*
- 1.78%
VMATX
- 1D
- 0.00%
- 1M
- 1.81%
- YTD
- 1.93%
- 6M
- 2.34%
- 1Y
- 8.20%
- 3Y*
- 4.61%
- 5Y*
- 1.11%
- 10Y*
- 2.38%
MFSSX vs. VMATX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MFSSX MFS Massachusetts Municipal Bond Fund | 2.16% | 4.04% | 1.94% | 5.59% | -10.79% | 2.02% | 3.71% | 7.56% | 0.77% | 4.86% |
VMATX Vanguard Massachusetts Tax-Exempt Fund | 1.93% | 4.96% | 2.53% | 7.19% | -10.79% | 1.65% | 6.47% | 8.93% | 0.47% | 6.02% |
Correlation
The correlation between MFSSX and VMATX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.92 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.93 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Dec 9, 1998 | 0.84 |
The correlation between MFSSX and VMATX has been stable across timeframes, ranging from 0.84 to 0.93 - a consistent structural relationship.
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Return for Risk
MFSSX vs. VMATX — Risk / Return Rank
MFSSX
VMATX
MFSSX vs. VMATX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS Massachusetts Municipal Bond Fund (MFSSX) and Vanguard Massachusetts Tax-Exempt Fund (VMATX). 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.
| MFSSX | VMATX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | +0.04 | ||
| Omega ratioGain probability vs. loss probability | 1.67 | 1.65 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 2.74 | 2.50 | +0.24 |
| Martin ratioReturn relative to average drawdown | 9.86 | 8.81 | +1.05 |
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Drawdowns
MFSSX vs. VMATX - Drawdown Comparison
The maximum MFSSX drawdown since its inception was -17.05%, which is greater than VMATX's maximum drawdown of -15.91%. Use the drawdown chart below to compare losses from any high point for MFSSX and VMATX.
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Drawdown Indicators
| MFSSX | VMATX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.05% | -15.91% | -1.14% |
Max Drawdown (1Y)Largest decline over 1 year | -2.72% | -3.30% | +0.58% |
Max Drawdown (3Y)Largest decline over 3 years | -6.64% | -6.68% | +0.04% |
Max Drawdown (5Y)Largest decline over 5 years | -16.13% | -15.91% | -0.22% |
Max Drawdown (10Y)Largest decline over 10 years | -16.13% | -15.91% | -0.22% |
Current DrawdownCurrent decline from peak | 0.00% | -0.35% | +0.35% |
Average DrawdownAverage peak-to-trough decline | -2.40% | -2.10% | -0.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.75% | 0.93% | -0.18% |
Volatility
MFSSX vs. VMATX - Volatility Comparison
MFS Massachusetts Municipal Bond Fund (MFSSX) and Vanguard Massachusetts Tax-Exempt Fund (VMATX) have volatilities of 0.80% and 0.79%, 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
| MFSSX | VMATX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.80% | 0.79% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 2.14% | 2.41% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.85% | 3.14% | -0.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.23% | 4.66% | -0.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.35% | 4.64% | -0.29% |
MFSSX vs. VMATX - Expense Ratio Comparison
MFSSX has a 0.83% expense ratio, which is higher than VMATX's 0.13% expense ratio.
Dividends
MFSSX vs. VMATX - Dividend Comparison
MFSSX's dividend yield for the trailing twelve months is around 3.21%, less than VMATX's 3.61% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MFSSX MFS Massachusetts Municipal Bond Fund | 3.21% | 4.20% | 2.81% | 2.43% | 1.84% | 1.91% | 2.44% | 3.27% | 3.42% | 3.74% | 3.64% | 3.70% |
VMATX Vanguard Massachusetts Tax-Exempt Fund | 3.61% | 4.46% | 3.98% | 3.06% | 2.69% | 2.26% | 3.22% | 3.63% | 3.07% | 2.91% | 3.55% | 3.22% |
Frequently Asked Questions
MFSSX and VMATX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MFSSX has higher volatility (0.80%) compared to VMATX (0.79%). In terms of maximum drawdown, MFSSX dropped -17.05% vs VMATX's -15.91%.
VMATX currently has the higher Sharpe Ratio (2.62 vs 2.61), 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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