MGIAX vs. FEQIX

Last updated Aug 4, 2026

MGIAX (MFS International Intrinsic Value Fund) and FEQIX (Fidelity Equity-Income Fund) are both mutual funds - MGIAX is a Foreign Large Cap Equities fund managed by MFS, while FEQIX is a Large Cap Value Equities fund actively managed by Fidelity. Over the past 10 years, MGIAX returned 9.87%/yr vs 12.06%/yr for FEQIX. Their 0.65 correlation means they have sometimes moved together and sometimes differently. MGIAX charges 0.96%/yr vs 0.57%/yr for FEQIX.

Performance

MGIAX vs. FEQIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS International Intrinsic Value Fund (MGIAX) and Fidelity Equity-Income Fund (FEQIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MGIAX achieves a 8.00% return, which is significantly lower than FEQIX's 13.60% return. Over the past 10 years, MGIAX has underperformed FEQIX with an annualized return of 9.87%, while FEQIX has yielded a comparatively higher 12.06% annualized return.

MGIAX

• 1D: -0.86%
• 1M: 2.15%
• 6M: 3.00%
• YTD: 8.00%
• 1Y: 21.60%
• 3Y*: 16.55%
• 5Y*: 7.38%
• 10Y*: 9.87%
• ALL TIME*: 8.71%

FEQIX

• 1D: 0.50%
• 1M: 1.70%
• 6M: 8.89%
• YTD: 13.60%
• 1Y: 24.30%
• 3Y*: 17.37%
• 5Y*: 11.70%
• 10Y*: 12.06%
• ALL TIME*: 8.42%

*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)
FEQIX Fidelity Equity-Income Fund	$0.00	$0.00	$0.00
MGIAX MFS International Intrinsic Value Fund	$0.00	$0.00	$0.00

MGIAX vs. FEQIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGIAX MFS International Intrinsic Value Fund	8.00%	32.75%	7.07%	17.76%	-23.24%	10.25%	20.16%	25.57%	-9.22%	26.82%
FEQIX Fidelity Equity-Income Fund	13.60%	18.96%	15.34%	10.62%	-5.10%	24.49%	6.77%	27.90%	-8.46%	12.80%

Correlation

The correlation between MGIAX and FEQIX is 0.68, 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.	0.68
Correlation (3Y) Balances recent behavior with more history.	0.66
Correlation (5Y) Shows whether the relationship held over a longer period.	0.69
Correlation (10Y) Provides a long-term view across more market conditions.	0.68
Correlation (All Time) Calculated using the full available price history since Oct 24, 1995	0.65

The correlation between MGIAX and FEQIX has been stable across timeframes, ranging from 0.65 to 0.69 - a consistent structural relationship.

Return for Risk

MGIAX vs. FEQIX — Risk / Return Rank

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

MGIAX

MGIAX Risk / Return Rank: 42
MGIAX Sharpe Ratio Rank: 49
MGIAX Sortino Ratio Rank: 46
MGIAX Omega Ratio Rank: 44
MGIAX Calmar Ratio Rank: 38
MGIAX Martin Ratio Rank: 35

FEQIX

FEQIX Risk / Return Rank: 91
FEQIX Sharpe Ratio Rank: 93
FEQIX Sortino Ratio Rank: 91
FEQIX Omega Ratio Rank: 87
FEQIX Calmar Ratio Rank: 91
FEQIX Martin Ratio Rank: 94

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.

MGIAX vs. FEQIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS International Intrinsic Value Fund (MGIAX) and Fidelity Equity-Income Fund (FEQIX). 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.

	MGIAX	FEQIX	Difference
Sharpe ratio: Return per unit of total volatility	1.44	2.42	-0.98
Sortino ratio: Return per unit of downside risk	2.03	3.47	-1.45
Omega ratio: Gain probability vs. loss probability	1.25	1.44	-0.19
Calmar ratio: Return relative to maximum drawdown	1.69	3.59	-1.90
Martin ratio: Return relative to average drawdown	5.54	14.73	-9.19

MGIAX vs. FEQIX - Sharpe Ratio Comparison

The current MGIAX Sharpe Ratio is 1.44, which is lower than the FEQIX Sharpe Ratio of 2.42. The chart below compares the historical Sharpe Ratios of MGIAX and FEQIX, 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

MGIAX vs. FEQIX - Drawdown Comparison

The maximum MGIAX drawdown since its inception was -51.94%, smaller than the maximum FEQIX drawdown of -62.38%. Use the drawdown chart below to compare losses from any high point for MGIAX and FEQIX.

Drawdown Indicators

	MGIAX	FEQIX	Difference
Max Drawdown Largest peak-to-trough decline	-51.94%	-62.38%	+10.44%
Max Drawdown (1Y) Largest decline over 1 year	-12.43%	-6.48%	-5.95%
Max Drawdown (3Y) Largest decline over 3 years	-13.57%	-13.18%	-0.39%
Max Drawdown (5Y) Largest decline over 5 years	-37.13%	-17.20%	-19.93%
Max Drawdown (10Y) Largest decline over 10 years	-37.13%	-33.12%	-4.01%
Current Drawdown Current decline from peak	-1.59%	0.00%	-1.59%
Average Drawdown Average peak-to-trough decline	-8.61%	-7.98%	-0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.79%	1.58%	+2.21%

Volatility

MGIAX vs. FEQIX - Volatility Comparison

MFS International Intrinsic Value Fund (MGIAX) has a higher volatility of 3.99% compared to Fidelity Equity-Income Fund (FEQIX) at 2.70%. This indicates that MGIAX's price experiences larger fluctuations and is considered to be riskier than FEQIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGIAX	FEQIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.99%	2.70%	+1.29%
Volatility (6M) Calculated over the trailing 6-month period	12.23%	7.35%	+4.88%
Volatility (1Y) Calculated over the trailing 1-year period	14.65%	9.66%	+4.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.85%	13.38%	+3.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.55%	15.40%	+0.15%

MGIAX vs. FEQIX - Expense Ratio Comparison

MGIAX has a 0.96% expense ratio, which is higher than FEQIX's 0.57% expense ratio.

Dividends

MGIAX vs. FEQIX - Dividend Comparison

MGIAX's dividend yield for the trailing twelve months is around 7.67%, more than FEQIX's 4.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FEQIX Fidelity Equity-Income Fund	4.42%	4.67%	5.51%	4.26%	4.56%	9.90%	3.38%	7.16%	9.76%	6.29%	4.28%	12.17%
MGIAX MFS International Intrinsic Value Fund	7.67%	8.28%	12.79%	11.81%	14.57%	7.59%	5.30%	3.89%	4.41%	2.48%	1.62%	3.10%

Frequently Asked Questions

Can I hold both MGIAX and FEQIX in my portfolio?

MGIAX and FEQIX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGIAX or FEQIX?

MGIAX has higher volatility (3.99%) compared to FEQIX (2.70%). In terms of maximum drawdown, MGIAX dropped -51.94% vs FEQIX's -62.38%.

Which has better risk-adjusted returns?

FEQIX currently has the higher Sharpe Ratio (2.42 vs 1.44), 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.