MGIAX vs. HEFA
MGIAX (MFS International Intrinsic Value Fund) and HEFA (iShares Currency Hedged MSCI EAFE ETF) are both Foreign Large Cap Equities funds. Over the past 10 years, MGIAX returned 9.87%/yr vs 12.79%/yr for HEFA. Their 0.76 correlation means they have sometimes moved together and sometimes differently. MGIAX charges 0.96%/yr vs 0.35%/yr for HEFA.
Performance
MGIAX vs. HEFA - Performance Comparison
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Returns By Period
In the year-to-date period, MGIAX achieves a 8.00% return, which is significantly lower than HEFA's 14.45% return. Over the past 10 years, MGIAX has underperformed HEFA with an annualized return of 9.87%, while HEFA has yielded a comparatively higher 12.79% 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%
HEFA
- 1D
- 0.40%
- 1M
- 0.61%
- 6M
- 9.27%
- YTD
- 14.45%
- 1Y
- 30.94%
- 3Y*
- 19.80%
- 5Y*
- 14.04%
- 10Y*
- 12.79%
- ALL TIME*
- 10.84%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $19.94M | $30.84M | $25.49M | |
| $0.00 | $0.00 | $0.00 |
MGIAX vs. HEFA - 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% |
HEFA iShares Currency Hedged MSCI EAFE ETF | 14.45% | 24.58% | 13.71% | 20.33% | -4.86% | 19.59% | 2.09% | 27.63% | -9.33% | 16.67% |
Correlation
The correlation between MGIAX and HEFA is 0.80, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.80 |
Correlation (3Y) Balances recent behavior with more history. | 0.79 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.80 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.77 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2014 | 0.76 |
The correlation between MGIAX and HEFA has been stable across timeframes, ranging from 0.76 to 0.80 - a consistent structural relationship.
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Return for Risk
MGIAX vs. HEFA — Risk / Return Rank
MGIAX
HEFA
MGIAX vs. HEFA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS International Intrinsic Value Fund (MGIAX) and iShares Currency Hedged MSCI EAFE ETF (HEFA). 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 | HEFA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.95 | ||
| Sortino ratioReturn per unit of downside risk | -1.26 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.44 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 1.69 | 3.27 | -1.57 |
| Martin ratioReturn relative to average drawdown | 5.54 | 13.64 | -8.10 |
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Drawdowns
MGIAX vs. HEFA - Drawdown Comparison
The maximum MGIAX drawdown since its inception was -51.94%, which is greater than HEFA's maximum drawdown of -32.39%. Use the drawdown chart below to compare losses from any high point for MGIAX and HEFA.
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Drawdown Indicators
| MGIAX | HEFA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.94% | -32.39% | -19.55% |
Max Drawdown (1Y)Largest decline over 1 year | -12.43% | -9.52% | -2.91% |
Max Drawdown (3Y)Largest decline over 3 years | -13.57% | -14.28% | +0.71% |
Max Drawdown (5Y)Largest decline over 5 years | -37.13% | -14.79% | -22.34% |
Max Drawdown (10Y)Largest decline over 10 years | -37.13% | -32.39% | -4.74% |
Current DrawdownCurrent decline from peak | -1.59% | -0.35% | -1.24% |
Average DrawdownAverage peak-to-trough decline | -8.61% | -4.13% | -4.48% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.79% | 2.27% | +1.52% |
Volatility
MGIAX vs. HEFA - Volatility Comparison
MFS International Intrinsic Value Fund (MGIAX) has a higher volatility of 3.99% compared to iShares Currency Hedged MSCI EAFE ETF (HEFA) at 3.48%. This indicates that MGIAX's price experiences larger fluctuations and is considered to be riskier than HEFA based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGIAX | HEFA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.99% | 3.48% | +0.51% |
Volatility (6M)Calculated over the trailing 6-month period | 12.23% | 10.86% | +1.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.65% | 13.02% | +1.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.85% | 13.85% | +3.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.55% | 15.67% | -0.12% |
MGIAX vs. HEFA - Expense Ratio Comparison
MGIAX has a 0.96% expense ratio, which is higher than HEFA's 0.35% expense ratio.
Dividends
MGIAX vs. HEFA - Dividend Comparison
MGIAX's dividend yield for the trailing twelve months is around 7.67%, more than HEFA's 4.01% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HEFA iShares Currency Hedged MSCI EAFE ETF | 4.01% | 4.40% | 3.09% | 3.02% | 25.14% | 3.06% | 2.10% | 7.56% | 4.58% | 2.55% | 3.17% | 3.54% |
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
MGIAX and HEFA have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MGIAX has higher volatility (3.99%) compared to HEFA (3.48%). In terms of maximum drawdown, MGIAX dropped -51.94% vs HEFA's -32.39%.
HEFA currently has the higher Sharpe Ratio (2.39 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.
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