MGF vs. DFFGX
MGF (MFS Government Markets Income Trust) and DFFGX (DFA Short-Term Government Portfolio) are both Government Bonds funds. Over the past 10 years, MGF returned 1.11%/yr vs 1.21%/yr for DFFGX. Their 0.09 correlation means their historical movements had little consistent relationship. MGF charges 0.02%/yr vs 0.18%/yr for DFFGX.
Performance
MGF vs. DFFGX - Performance Comparison
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Returns By Period
In the year-to-date period, MGF achieves a -2.79% return, which is significantly lower than DFFGX's 1.79% return. Over the past 10 years, MGF has underperformed DFFGX with an annualized return of 1.11%, while DFFGX has yielded a comparatively higher 1.21% annualized return.
MGF
- 1D
- 0.00%
- 1M
- -1.39%
- 6M
- -3.88%
- YTD
- -2.79%
- 1Y
- -1.49%
- 3Y*
- 3.13%
- 5Y*
- -1.39%
- 10Y*
- 1.11%
- ALL TIME*
- 2.22%
DFFGX
- 1D
- 0.00%
- 1M
- 0.20%
- 6M
- 1.48%
- YTD
- 1.79%
- 1Y
- 3.51%
- 3Y*
- 4.13%
- 5Y*
- 1.83%
- 10Y*
- 1.21%
- ALL TIME*
- 24.61%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $174.87K | $200.97K | $288.87K |
MGF vs. DFFGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MGF MFS Government Markets Income Trust | -2.79% | 6.24% | 4.17% | 3.78% | -15.81% | -0.22% | 7.80% | 10.32% | 1.33% | 2.62% |
DFFGX DFA Short-Term Government Portfolio | 1.79% | 3.12% | 5.29% | 5.01% | -4.41% | -1.27% | 0.39% | 2.52% | 1.17% | 0.51% |
Correlation
The correlation between MGF and DFFGX is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.06 |
Correlation (3Y) Balances recent behavior with more history. | -0.02 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.12 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.09 |
Correlation (All Time) Calculated using the full available price history since May 20, 1987 | 0.09 |
The correlation between MGF and DFFGX shifts across timeframes, from -0.02 (3 years) to 0.12 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MGF vs. DFFGX — Risk / Return Rank
MGF
DFFGX
MGF vs. DFFGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS Government Markets Income Trust (MGF) and DFA Short-Term Government Portfolio (DFFGX). 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.
| MGF | DFFGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -4.48 | ||
| Sortino ratioReturn per unit of downside risk | -7.84 | ||
| Omega ratioGain probability vs. loss probability | 0.99 | 3.47 | -2.48 |
| Calmar ratioReturn relative to maximum drawdown | -0.19 | 11.83 | -12.02 |
| Martin ratioReturn relative to average drawdown | -0.36 | 74.15 | -74.51 |
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Drawdowns
MGF vs. DFFGX - Drawdown Comparison
The maximum MGF drawdown since its inception was -35.74%, which is greater than DFFGX's maximum drawdown of -6.49%. Use the drawdown chart below to compare losses from any high point for MGF and DFFGX.
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Drawdown Indicators
| MGF | DFFGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -35.74% | -6.49% | -29.25% |
Max Drawdown (1Y)Largest decline over 1 year | -6.13% | -0.30% | -5.83% |
Max Drawdown (3Y)Largest decline over 3 years | -8.69% | -1.19% | -7.50% |
Max Drawdown (5Y)Largest decline over 5 years | -22.88% | -6.49% | -16.39% |
Max Drawdown (10Y)Largest decline over 10 years | -22.88% | -6.49% | -16.39% |
Current DrawdownCurrent decline from peak | -7.49% | 0.00% | -7.49% |
Average DrawdownAverage peak-to-trough decline | -10.86% | -0.76% | -10.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.26% | 0.05% | +3.21% |
Volatility
MGF vs. DFFGX - Volatility Comparison
MFS Government Markets Income Trust (MGF) has a higher volatility of 2.50% compared to DFA Short-Term Government Portfolio (DFFGX) at 0.34%. This indicates that MGF's price experiences larger fluctuations and is considered to be riskier than DFFGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGF | DFFGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.50% | 0.34% | +2.16% |
Volatility (6M)Calculated over the trailing 6-month period | 8.39% | 0.70% | +7.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.48% | 0.81% | +9.67% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 11.40% | 1.84% | +9.56% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.23% | 1.55% | +8.68% |
MGF vs. DFFGX - Expense Ratio Comparison
MGF has a 0.02% expense ratio, which is lower than DFFGX's 0.18% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
MGF vs. DFFGX - Dividend Comparison
MGF's dividend yield for the trailing twelve months is around 8.17%, more than DFFGX's 3.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DFFGX DFA Short-Term Government Portfolio | 3.77% | 2.98% | 4.87% | 3.57% | 1.85% | 0.15% | 0.29% | 1.83% | 1.53% | 1.18% | 0.99% | 1.27% |
MGF MFS Government Markets Income Trust | 8.17% | 7.65% | 7.81% | 7.82% | 8.45% | 7.71% | 7.58% | 7.50% | 7.81% | 7.92% | 8.09% | 8.05% |
Frequently Asked Questions
MGF and DFFGX have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MGF has higher volatility (2.50%) compared to DFFGX (0.34%). In terms of maximum drawdown, MGF dropped -35.74% vs DFFGX's -6.49%.
DFFGX currently has the higher Sharpe Ratio (4.37 vs -0.11), 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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