MGFAX vs. MDVAX
MGFAX (MassMutual Global Fund) and MDVAX (MassMutual Diversified Bond Fund) are both mutual funds - MGFAX is a Global Equities fund managed by MassMutual, while MDVAX is a Intermediate Core-Plus Bond fund managed by MassMutual. Over the past 10 years, MGFAX returned 11.40%/yr vs 2.01%/yr for MDVAX. Their -0.04 correlation means they have often moved in opposite directions in the past. MGFAX charges 1.41%/yr vs 1.07%/yr for MDVAX.
Performance
MGFAX vs. MDVAX - Performance Comparison
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Returns By Period
In the year-to-date period, MGFAX achieves a 3.17% return, which is significantly higher than MDVAX's 2.33% return. Over the past 10 years, MGFAX has outperformed MDVAX with an annualized return of 11.40%, while MDVAX has yielded a comparatively lower 2.01% annualized return.
MGFAX
- 1D
- 1.63%
- 1M
- -2.98%
- 6M
- 2.60%
- YTD
- 3.17%
- 1Y
- 11.62%
- 3Y*
- 12.74%
- 5Y*
- 5.18%
- 10Y*
- 11.40%
- ALL TIME*
- 7.52%
MDVAX
- 1D
- 0.00%
- 1M
- -0.70%
- 6M
- 1.78%
- YTD
- 2.33%
- 1Y
- 5.36%
- 3Y*
- 5.91%
- 5Y*
- -0.11%
- 10Y*
- 2.01%
- ALL TIME*
- 3.12%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MGFAX vs. MDVAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MGFAX MassMutual Global Fund | 3.17% | 14.37% | 15.01% | 33.87% | -32.08% | 19.60% | 27.18% | 30.67% | -14.19% | 35.30% |
MDVAX MassMutual Diversified Bond Fund | 2.33% | 8.40% | 2.47% | 5.81% | -17.01% | 1.95% | 8.08% | 10.12% | -1.55% | 4.52% |
Correlation
The correlation between MGFAX and MDVAX is 0.38, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.38 |
Correlation (3Y) Balances recent behavior with more history. | 0.24 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.24 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.12 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 2004 | -0.04 |
The correlation between MGFAX and MDVAX shifts across timeframes, from -0.04 (all time) to 0.38 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MGFAX vs. MDVAX — Risk / Return Rank
MGFAX
MDVAX
MGFAX vs. MDVAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MassMutual Global Fund (MGFAX) and MassMutual Diversified Bond Fund (MDVAX). 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.
| MGFAX | MDVAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.42 | ||
| Sortino ratioReturn per unit of downside risk | -2.34 | ||
| Omega ratioGain probability vs. loss probability | 1.11 | 1.40 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 0.61 | 2.66 | -2.05 |
| Martin ratioReturn relative to average drawdown | 2.11 | 11.08 | -8.97 |
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Drawdowns
MGFAX vs. MDVAX - Drawdown Comparison
The maximum MGFAX drawdown since its inception was -62.06%, which is greater than MDVAX's maximum drawdown of -23.02%. Use the drawdown chart below to compare losses from any high point for MGFAX and MDVAX.
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Drawdown Indicators
| MGFAX | MDVAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.06% | -23.02% | -39.04% |
Max Drawdown (1Y)Largest decline over 1 year | -16.38% | -2.21% | -14.17% |
Max Drawdown (3Y)Largest decline over 3 years | -23.61% | -4.87% | -18.74% |
Max Drawdown (5Y)Largest decline over 5 years | -46.09% | -23.02% | -23.07% |
Max Drawdown (10Y)Largest decline over 10 years | -46.09% | -23.02% | -23.07% |
Current DrawdownCurrent decline from peak | -6.49% | -3.63% | -2.86% |
Average DrawdownAverage peak-to-trough decline | -13.52% | -3.47% | -10.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.77% | 0.53% | +4.24% |
Volatility
MGFAX vs. MDVAX - Volatility Comparison
MassMutual Global Fund (MGFAX) has a higher volatility of 5.50% compared to MassMutual Diversified Bond Fund (MDVAX) at 0.56%. This indicates that MGFAX's price experiences larger fluctuations and is considered to be riskier than MDVAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGFAX | MDVAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.50% | 0.56% | +4.94% |
Volatility (6M)Calculated over the trailing 6-month period | 15.58% | 2.15% | +13.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.39% | 3.01% | +15.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.71% | 6.45% | +27.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 27.59% | 5.26% | +22.33% |
MGFAX vs. MDVAX - Expense Ratio Comparison
MGFAX has a 1.41% expense ratio, which is higher than MDVAX's 1.07% expense ratio.
Dividends
MGFAX vs. MDVAX - Dividend Comparison
MGFAX's dividend yield for the trailing twelve months is around 42.32%, more than MDVAX's 3.80% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MDVAX MassMutual Diversified Bond Fund | 3.80% | 3.91% | 2.45% | 4.87% | 3.76% | 4.06% | 7.20% | 2.90% | 2.86% | 2.64% | 2.11% | 0.53% |
MGFAX MassMutual Global Fund | 42.32% | 43.66% | 16.85% | 30.43% | 28.11% | 15.89% | 5.05% | 0.36% | 27.78% | 12.10% | 3.75% | 8.25% |
Frequently Asked Questions
MGFAX and MDVAX have a correlation of 0.38, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MGFAX has higher volatility (5.50%) compared to MDVAX (0.56%). In terms of maximum drawdown, MGFAX dropped -62.06% vs MDVAX's -23.02%.
MDVAX currently has the higher Sharpe Ratio (1.97 vs 0.55), 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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