MGFIX vs. MBDFX

Last updated Jun 4, 2026

MGFIX (AMG GW&K ESG Bond Fund) and MBDFX (AMG GW&K Core Bond ESG Fund) are both mutual funds - MGFIX is a Intermediate Core-Plus Bond fund managed by AMG, while MBDFX is a Intermediate Core Bond fund managed by AMG. Over the past 10 years, MGFIX returned 1.39%/yr vs 1.27%/yr for MBDFX. Their correlation of 0.81 suggests significant overlap in exposure. MGFIX charges 0.68%/yr vs 0.56%/yr for MBDFX.

Performance

MGFIX vs. MBDFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in AMG GW&K ESG Bond Fund (MGFIX) and AMG GW&K Core Bond ESG Fund (MBDFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MGFIX achieves a 0.44% return, which is significantly higher than MBDFX's -0.05% return. Over the past 10 years, MGFIX has outperformed MBDFX with an annualized return of 1.39%, while MBDFX has yielded a comparatively lower 1.27% annualized return.

MGFIX

• 1D: 0.09%
• 1M: 0.68%
• YTD: 0.44%
• 6M: 0.33%
• 1Y: 5.52%
• 3Y*: 4.30%
• 5Y*: 0.05%
• 10Y*: 1.39%

MBDFX

• 1D: 0.00%
• 1M: 0.56%
• YTD: -0.05%
• 6M: -0.28%
• 1Y: 5.01%
• 3Y*: 3.84%
• 5Y*: -0.46%
• 10Y*: 1.27%

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

MGFIX vs. MBDFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGFIX AMG GW&K ESG Bond Fund	0.44%	7.26%	1.50%	6.69%	-13.17%	-9.68%	7.34%	11.11%	-1.82%	6.78%
MBDFX AMG GW&K Core Bond ESG Fund	-0.05%	7.29%	1.24%	5.73%	-13.85%	-3.34%	7.33%	9.70%	-1.11%	3.88%

Correlation

The correlation between MGFIX and MBDFX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.97
Correlation (3Y) Calculated over the trailing 3-year period	0.98
Correlation (5Y) Calculated over the trailing 5-year period	0.98
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since May 3, 1993	0.81

The correlation between MGFIX and MBDFX shifts across timeframes, from 0.81 (all time) to 0.98 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

MGFIX vs. MBDFX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MGFIX

MGFIX Risk / Return Rank: 26
MGFIX Sharpe Ratio Rank: 28
MGFIX Sortino Ratio Rank: 29
MGFIX Omega Ratio Rank: 26
MGFIX Calmar Ratio Rank: 26
MGFIX Martin Ratio Rank: 23

MBDFX

MBDFX Risk / Return Rank: 19
MBDFX Sharpe Ratio Rank: 21
MBDFX Sortino Ratio Rank: 21
MBDFX Omega Ratio Rank: 20
MBDFX Calmar Ratio Rank: 18
MBDFX Martin Ratio Rank: 16

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MGFIX vs. MBDFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for AMG GW&K ESG Bond Fund (MGFIX) and AMG GW&K Core Bond ESG Fund (MBDFX). 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.

	MGFIX	MBDFX	Difference
Sharpe ratio: Return per unit of total volatility	1.52	1.31	+0.21
Sortino ratio: Return per unit of downside risk	2.23	1.92	+0.31
Omega ratio: Gain probability vs. loss probability	1.27	1.23	+0.03
Calmar ratio: Return relative to maximum drawdown	1.92	1.56	+0.36
Martin ratio: Return relative to average drawdown	5.81	4.52	+1.29
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MGFIX vs. MBDFX - Sharpe Ratio Comparison

The current MGFIX Sharpe Ratio is 1.52, which is comparable to the MBDFX Sharpe Ratio of 1.31. The chart below compares the historical Sharpe Ratios of MGFIX and MBDFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MGFIX	MBDFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.52	1.31	+0.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	-0.07	+0.08
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.27	0.25	+0.01
Sharpe Ratio (All Time) Calculated using the full available price history	0.85	0.48	+0.37

Drawdowns

MGFIX vs. MBDFX - Drawdown Comparison

The maximum MGFIX drawdown since its inception was -25.03%, which is greater than MBDFX's maximum drawdown of -20.66%. Use the drawdown chart below to compare losses from any high point for MGFIX and MBDFX.

Drawdown Indicators

	MGFIX	MBDFX	Difference
Max Drawdown Largest peak-to-trough decline	-25.03%	-20.66%	-4.37%
Max Drawdown (1Y) Largest decline over 1 year	-2.93%	-3.25%	+0.32%
Max Drawdown (3Y) Largest decline over 3 years	-6.75%	-6.99%	+0.24%
Max Drawdown (5Y) Largest decline over 5 years	-19.68%	-20.54%	+0.86%
Max Drawdown (10Y) Largest decline over 10 years	-25.03%	-20.66%	-4.37%
Current Drawdown Current decline from peak	-8.50%	-4.51%	-3.99%
Average Drawdown Average peak-to-trough decline	-4.81%	-3.96%	-0.85%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.96%	1.11%	-0.15%

Volatility

MGFIX vs. MBDFX - Volatility Comparison

AMG GW&K ESG Bond Fund (MGFIX) and AMG GW&K Core Bond ESG Fund (MBDFX) have volatilities of 1.36% and 1.35%, 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.

Volatility by Period

	MGFIX	MBDFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.36%	1.35%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	2.71%	2.79%	-0.08%
Volatility (1Y) Calculated over the trailing 1-year period	3.70%	3.87%	-0.17%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.76%	6.15%	-0.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.24%	5.06%	+0.18%

MGFIX vs. MBDFX - Expense Ratio Comparison

MGFIX has a 0.68% expense ratio, which is higher than MBDFX's 0.56% expense ratio.

Dividends

MGFIX vs. MBDFX - Dividend Comparison

MGFIX's dividend yield for the trailing twelve months is around 4.07%, more than MBDFX's 3.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MBDFX AMG GW&K Core Bond ESG Fund	3.47%	3.66%	3.50%	2.92%	2.16%	2.35%	1.84%	2.40%	2.30%	2.10%	2.06%	4.17%
MGFIX AMG GW&K ESG Bond Fund	4.07%	3.85%	3.56%	2.94%	2.41%	2.21%	3.38%	4.20%	3.89%	3.81%	4.96%	4.17%

Frequently Asked Questions

Can I hold both MGFIX and MBDFX in my portfolio?

With a correlation of 0.97, MGFIX and MBDFX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MGFIX or MBDFX?

MGFIX has higher volatility (1.36%) compared to MBDFX (1.35%). In terms of maximum drawdown, MGFIX dropped -25.03% vs MBDFX's -20.66%.

Which has better risk-adjusted returns?

MGFIX currently has the higher Sharpe Ratio (1.52 vs 1.31), 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.