MGBLX vs. VTIIX

Last updated Aug 1, 2026

MGBLX (MFS Global Opportunistic Bond Fund Class R2) and VTIIX (Vanguard Total International Bond II Index Fund Investor Class) are both Global Bonds funds - MGBLX tracks the Bloomberg Global Aggregate Index (USD Hedged) while VTIIX tracks the Bloomberg Global Aggregate ex-USD Float Adjusted RIC Capped Index Hedged. Both are passively managed. Over the past 5 years, MGBLX returned -0.02%/yr vs -0.10%/yr for VTIIX. Their 0.79 correlation means they have sometimes moved together and sometimes differently. MGBLX charges 1.19%/yr vs 0.11%/yr for VTIIX.

Performance

MGBLX vs. VTIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Global Opportunistic Bond Fund Class R2 (MGBLX) and Vanguard Total International Bond II Index Fund Investor Class (VTIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MGBLX achieves a -0.55% return, which is significantly lower than VTIIX's 0.20% return.

MGBLX

• 1D: 0.00%
• 1M: -1.35%
• 6M: -1.06%
• YTD: -0.55%
• 1Y: 1.65%
• 3Y*: 3.71%
• 5Y*: -0.02%
• 10Y*: 1.27%
• ALL TIME*: 1.37%

VTIIX

• 1D: 0.00%
• 1M: -0.80%
• 6M: -0.25%
• YTD: 0.20%
• 1Y: 1.22%
• 3Y*: 3.89%
• 5Y*: -0.10%
• 10Y*: —
• ALL TIME*: 0.14%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MGBLX MFS Global Opportunistic Bond Fund Class R2	$0.00	$0.00	$0.00
VTIIX Vanguard Total International Bond II Index Fund Investor Class	$0.00	$0.00	$0.00

MGBLX vs. VTIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MGBLX MFS Global Opportunistic Bond Fund Class R2	-0.55%	5.38%	1.81%	7.69%	-11.57%	-0.88%
VTIIX Vanguard Total International Bond II Index Fund Investor Class	0.20%	2.95%	3.82%	8.72%	-13.03%	-0.52%

Correlation

The correlation between MGBLX and VTIIX is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.78
Correlation (3Y) Balances recent behavior with more history.	0.82
Correlation (5Y) Shows whether the relationship held over a longer period.	0.79
Correlation (All Time) Calculated using the full available price history since Mar 2, 2021	0.79

The correlation between MGBLX and VTIIX has been stable across timeframes, ranging from 0.78 to 0.82 - a consistent structural relationship.

Return for Risk

MGBLX vs. VTIIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MGBLX

MGBLX Risk / Return Rank: 13
MGBLX Sharpe Ratio Rank: 14
MGBLX Sortino Ratio Rank: 14
MGBLX Omega Ratio Rank: 14
MGBLX Calmar Ratio Rank: 12
MGBLX Martin Ratio Rank: 12

VTIIX

VTIIX Risk / Return Rank: 10
VTIIX Sharpe Ratio Rank: 11
VTIIX Sortino Ratio Rank: 10
VTIIX Omega Ratio Rank: 10
VTIIX Calmar Ratio Rank: 10
VTIIX Martin Ratio Rank: 9

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MGBLX vs. VTIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Global Opportunistic Bond Fund Class R2 (MGBLX) and Vanguard Total International Bond II Index Fund Investor Class (VTIIX). 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.

	MGBLX	VTIIX	Difference
Sharpe ratio: Return per unit of total volatility	0.63	0.41	+0.22
Sortino ratio: Return per unit of downside risk	0.95	0.61	+0.34
Omega ratio: Gain probability vs. loss probability	1.11	1.07	+0.04
Calmar ratio: Return relative to maximum drawdown	0.66	0.45	+0.21
Martin ratio: Return relative to average drawdown	1.76	1.14	+0.62

MGBLX vs. VTIIX - Sharpe Ratio Comparison

The current MGBLX Sharpe Ratio is 0.63, which is higher than the VTIIX Sharpe Ratio of 0.41. The chart below compares the historical Sharpe Ratios of MGBLX and VTIIX, 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

MGBLX vs. VTIIX - Drawdown Comparison

The maximum MGBLX drawdown since its inception was -18.71%, which is greater than VTIIX's maximum drawdown of -15.95%. Use the drawdown chart below to compare losses from any high point for MGBLX and VTIIX.

Drawdown Indicators

	MGBLX	VTIIX	Difference
Max Drawdown Largest peak-to-trough decline	-18.71%	-15.95%	-2.76%
Max Drawdown (1Y) Largest decline over 1 year	-3.25%	-2.94%	-0.31%
Max Drawdown (3Y) Largest decline over 3 years	-4.72%	-2.94%	-1.78%
Max Drawdown (5Y) Largest decline over 5 years	-17.10%	-15.95%	-1.15%
Max Drawdown (10Y) Largest decline over 10 years	-18.71%	—	—
Current Drawdown Current decline from peak	-2.29%	-1.70%	-0.59%
Average Drawdown Average peak-to-trough decline	-6.51%	-5.90%	-0.61%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.22%	1.16%	+0.06%

Volatility

MGBLX vs. VTIIX - Volatility Comparison

MFS Global Opportunistic Bond Fund Class R2 (MGBLX) has a higher volatility of 0.91% compared to Vanguard Total International Bond II Index Fund Investor Class (VTIIX) at 0.81%. This indicates that MGBLX's price experiences larger fluctuations and is considered to be riskier than VTIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGBLX	VTIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.91%	0.81%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	2.70%	2.77%	-0.07%
Volatility (1Y) Calculated over the trailing 1-year period	3.43%	3.23%	+0.20%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.32%	4.55%	-0.23%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.64%	4.41%	+0.23%

MGBLX vs. VTIIX - Expense Ratio Comparison

MGBLX has a 1.19% expense ratio, which is higher than VTIIX's 0.11% expense ratio.

Dividends

MGBLX vs. VTIIX - Dividend Comparison

MGBLX's dividend yield for the trailing twelve months is around 4.06%, less than VTIIX's 4.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MGBLX MFS Global Opportunistic Bond Fund Class R2	4.06%	4.01%	2.53%	1.55%	2.99%	4.72%	3.15%	1.81%	1.66%	1.08%	1.15%	1.63%
VTIIX Vanguard Total International Bond II Index Fund Investor Class	4.13%	4.21%	4.46%	4.16%	0.89%	0.58%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MGBLX and VTIIX in my portfolio?

MGBLX and VTIIX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGBLX or VTIIX?

MGBLX has higher volatility (0.91%) compared to VTIIX (0.81%). In terms of maximum drawdown, MGBLX dropped -18.71% vs VTIIX's -15.95%.

Which has better risk-adjusted returns?

MGBLX currently has the higher Sharpe Ratio (0.63 vs 0.41), 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.