MGRAX vs. DODFX

Last updated Jun 13, 2026

MGRAX (MFS International Growth Fund) and DODFX (Dodge & Cox International Stock Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, MGRAX returned 9.77%/yr vs 11.25%/yr for DODFX. Their correlation of 0.89 suggests significant overlap in exposure. MGRAX charges 1.06%/yr vs 0.61%/yr for DODFX.

Performance

MGRAX vs. DODFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS International Growth Fund (MGRAX) and Dodge & Cox International Stock Fund (DODFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MGRAX achieves a 1.38% return, which is significantly lower than DODFX's 11.48% return. Over the past 10 years, MGRAX has underperformed DODFX with an annualized return of 9.77%, while DODFX has yielded a comparatively higher 11.25% annualized return.

MGRAX

• 1D: 2.57%
• 1M: 1.83%
• YTD: 1.38%
• 6M: 2.05%
• 1Y: 7.63%
• 3Y*: 11.04%
• 5Y*: 5.33%
• 10Y*: 9.77%

DODFX

• 1D: 2.97%
• 1M: 3.44%
• YTD: 11.48%
• 6M: 13.39%
• 1Y: 28.75%
• 3Y*: 19.81%
• 5Y*: 10.83%
• 10Y*: 11.25%

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

MGRAX vs. DODFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGRAX MFS International Growth Fund	1.38%	20.73%	8.82%	14.54%	-15.31%	9.20%	15.45%	26.83%	-9.09%	32.15%
DODFX Dodge & Cox International Stock Fund	11.48%	38.77%	3.74%	16.70%	-6.78%	10.99%	5.15%	22.79%	-18.01%	23.95%

Correlation

The correlation between MGRAX and DODFX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Apr 30, 2001	0.89

The correlation between MGRAX and DODFX has been stable across timeframes, ranging from 0.84 to 0.89 - a consistent structural relationship.

Return for Risk

MGRAX vs. DODFX — Risk / Return Rank

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

MGRAX

MGRAX Risk / Return Rank: 8
MGRAX Sharpe Ratio Rank: 8
MGRAX Sortino Ratio Rank: 8
MGRAX Omega Ratio Rank: 8
MGRAX Calmar Ratio Rank: 8
MGRAX Martin Ratio Rank: 9

DODFX

DODFX Risk / Return Rank: 67
DODFX Sharpe Ratio Rank: 73
DODFX Sortino Ratio Rank: 68
DODFX Omega Ratio Rank: 71
DODFX Calmar Ratio Rank: 63
DODFX Martin Ratio Rank: 59

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.

MGRAX vs. DODFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS International Growth Fund (MGRAX) and Dodge & Cox International Stock Fund (DODFX). 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.

	MGRAX	DODFX	Difference
Sharpe ratio: Return per unit of total volatility	0.46	1.99	-1.54
Sortino ratio: Return per unit of downside risk	0.73	2.71	-1.98
Omega ratio: Gain probability vs. loss probability	1.09	1.37	-0.28
Calmar ratio: Return relative to maximum drawdown	0.51	2.49	-1.97
Martin ratio: Return relative to average drawdown	1.67	9.40	-7.73

MGRAX vs. DODFX - Sharpe Ratio Comparison

The current MGRAX Sharpe Ratio is 0.46, which is lower than the DODFX Sharpe Ratio of 1.99. The chart below compares the historical Sharpe Ratios of MGRAX and DODFX, 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

MGRAX vs. DODFX - Drawdown Comparison

The maximum MGRAX drawdown since its inception was -55.29%, smaller than the maximum DODFX drawdown of -63.23%. Use the drawdown chart below to compare losses from any high point for MGRAX and DODFX.

Drawdown Indicators

	MGRAX	DODFX	Difference
Max Drawdown Largest peak-to-trough decline	-55.29%	-63.23%	+7.94%
Max Drawdown (1Y) Largest decline over 1 year	-12.42%	-11.14%	-1.28%
Max Drawdown (3Y) Largest decline over 3 years	-13.66%	-14.41%	+0.75%
Max Drawdown (5Y) Largest decline over 5 years	-30.58%	-24.52%	-6.06%
Max Drawdown (10Y) Largest decline over 10 years	-30.58%	-44.61%	+14.03%
Current Drawdown Current decline from peak	-5.27%	-1.13%	-4.14%
Average Drawdown Average peak-to-trough decline	-10.85%	-11.65%	+0.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.80%	2.94%	+0.86%

Volatility

MGRAX vs. DODFX - Volatility Comparison

MFS International Growth Fund (MGRAX) and Dodge & Cox International Stock Fund (DODFX) have volatilities of 5.54% and 5.81%, 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

	MGRAX	DODFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.54%	5.81%	-0.27%
Volatility (6M) Calculated over the trailing 6-month period	11.63%	11.91%	-0.28%
Volatility (1Y) Calculated over the trailing 1-year period	13.96%	13.89%	+0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.69%	16.03%	-0.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.76%	18.23%	-2.47%

MGRAX vs. DODFX - Expense Ratio Comparison

MGRAX has a 1.06% expense ratio, which is higher than DODFX's 0.61% expense ratio.

Dividends

MGRAX vs. DODFX - Dividend Comparison

MGRAX's dividend yield for the trailing twelve months is around 5.28%, more than DODFX's 4.53% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DODFX Dodge & Cox International Stock Fund	4.53%	5.05%	2.25%	2.29%	2.23%	2.49%	4.21%	3.93%	2.93%	1.93%	3.66%	2.30%
MGRAX MFS International Growth Fund	5.28%	5.35%	5.99%	2.56%	2.69%	6.62%	0.56%	1.42%	3.82%	2.26%	1.01%	1.06%

Frequently Asked Questions

Can I hold both MGRAX and DODFX in my portfolio?

MGRAX and DODFX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGRAX or DODFX?

DODFX has higher volatility (5.81%) compared to MGRAX (5.54%). In terms of maximum drawdown, MGRAX dropped -55.29% vs DODFX's -63.23%.

Which has better risk-adjusted returns?

DODFX currently has the higher Sharpe Ratio (1.99 vs 0.46), 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.