MGINX vs. SCMTX
MGINX (DWS Global Macro Fund) and SCMTX (DWS Intermediate Tax-Free Fund) are both mutual funds - MGINX is a Tactical Allocation fund managed by DWS, while SCMTX is a Municipal Bonds fund managed by DWS. Over the past 10 years, MGINX returned 5.65%/yr vs 1.81%/yr for SCMTX. Their -0.05 correlation means they have often moved in opposite directions in the past. MGINX charges 0.79%/yr vs 0.48%/yr for SCMTX.
Performance
MGINX vs. SCMTX - Performance Comparison
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Returns By Period
In the year-to-date period, MGINX achieves a 3.41% return, which is significantly higher than SCMTX's 0.09% return. Over the past 10 years, MGINX has outperformed SCMTX with an annualized return of 5.65%, while SCMTX has yielded a comparatively lower 1.81% annualized return.
MGINX
- 1D
- 0.26%
- 1M
- 0.26%
- 6M
- 0.92%
- YTD
- 3.41%
- 1Y
- 10.97%
- 3Y*
- 7.89%
- 5Y*
- 4.62%
- 10Y*
- 5.65%
- ALL TIME*
- 7.97%
SCMTX
- 1D
- -0.09%
- 1M
- -1.58%
- 6M
- -0.92%
- YTD
- 0.09%
- 1Y
- 4.04%
- 3Y*
- 2.95%
- 5Y*
- 0.40%
- 10Y*
- 1.81%
- ALL TIME*
- 4.32%
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 |
MGINX vs. SCMTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MGINX DWS Global Macro Fund | 3.41% | 14.73% | 3.56% | 9.15% | -6.87% | 6.36% | 2.26% | 12.61% | 0.33% | 13.65% |
SCMTX DWS Intermediate Tax-Free Fund | 0.09% | 4.51% | 1.71% | 5.08% | -8.21% | 1.21% | 5.34% | 8.27% | 0.73% | 3.55% |
Correlation
The correlation between MGINX and SCMTX 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. | 0.35 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.26 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.11 |
Correlation (All Time) Calculated using the full available price history since May 15, 1995 | -0.05 |
The correlation between MGINX and SCMTX shifts across timeframes, from -0.05 (all time) to 0.38 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MGINX vs. SCMTX — Risk / Return Rank
MGINX
SCMTX
MGINX vs. SCMTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for DWS Global Macro Fund (MGINX) and DWS Intermediate Tax-Free Fund (SCMTX). 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.
| MGINX | SCMTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.45 | ||
| Sortino ratioReturn per unit of downside risk | -0.82 | ||
| Omega ratioGain probability vs. loss probability | 1.25 | 1.43 | -0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.51 | 1.49 | +0.02 |
| Martin ratioReturn relative to average drawdown | 4.80 | 4.00 | +0.80 |
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Drawdowns
MGINX vs. SCMTX - Drawdown Comparison
The maximum MGINX drawdown since its inception was -63.39%, which is greater than SCMTX's maximum drawdown of -12.59%. Use the drawdown chart below to compare losses from any high point for MGINX and SCMTX.
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Drawdown Indicators
| MGINX | SCMTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -63.39% | -12.59% | -50.80% |
Max Drawdown (1Y)Largest decline over 1 year | -7.41% | -2.94% | -4.47% |
Max Drawdown (3Y)Largest decline over 3 years | -7.41% | -4.26% | -3.15% |
Max Drawdown (5Y)Largest decline over 5 years | -12.16% | -12.59% | +0.43% |
Max Drawdown (10Y)Largest decline over 10 years | -15.12% | -12.59% | -2.53% |
Current DrawdownCurrent decline from peak | -2.36% | -2.15% | -0.21% |
Average DrawdownAverage peak-to-trough decline | -13.71% | -1.45% | -12.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.32% | 1.09% | +1.23% |
Volatility
MGINX vs. SCMTX - Volatility Comparison
DWS Global Macro Fund (MGINX) has a higher volatility of 2.19% compared to DWS Intermediate Tax-Free Fund (SCMTX) at 0.93%. This indicates that MGINX's price experiences larger fluctuations and is considered to be riskier than SCMTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGINX | SCMTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.19% | 0.93% | +1.26% |
Volatility (6M)Calculated over the trailing 6-month period | 6.94% | 1.97% | +4.97% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.08% | 2.38% | +5.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.96% | 3.12% | +3.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 7.17% | 3.31% | +3.86% |
MGINX vs. SCMTX - Expense Ratio Comparison
MGINX has a 0.79% expense ratio, which is higher than SCMTX's 0.48% expense ratio.
Dividends
MGINX vs. SCMTX - Dividend Comparison
MGINX's dividend yield for the trailing twelve months is around 1.78%, less than SCMTX's 3.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MGINX DWS Global Macro Fund | 1.78% | 1.82% | 2.15% | 2.88% | 4.76% | 1.20% | 0.81% | 3.23% | 6.82% | 0.00% | 0.00% | 0.00% |
SCMTX DWS Intermediate Tax-Free Fund | 3.07% | 3.26% | 2.90% | 2.16% | 1.70% | 2.22% | 3.65% | 5.20% | 2.95% | 2.64% | 2.56% | 2.53% |
Frequently Asked Questions
MGINX and SCMTX 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.
MGINX has higher volatility (2.19%) compared to SCMTX (0.93%). In terms of maximum drawdown, MGINX dropped -63.39% vs SCMTX's -12.59%.
SCMTX currently has the higher Sharpe Ratio (1.84 vs 1.38), 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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