MGRAX vs. MIEIX
MGRAX (MFS International Growth Fund) and MIEIX (MFS International Equity Fund Class R6) are both Foreign Large Cap Equities funds from MFS. Over the past 10 years, MGRAX returned 9.38%/yr vs 10.23%/yr for MIEIX. Their 0.96 correlation means they have historically moved very closely together. MGRAX charges 1.06%/yr vs 0.64%/yr for MIEIX.
Performance
MGRAX vs. MIEIX - Performance Comparison
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Returns By Period
In the year-to-date period, MGRAX achieves a 3.75% return, which is significantly lower than MIEIX's 8.70% return. Over the past 10 years, MGRAX has underperformed MIEIX with an annualized return of 9.38%, while MIEIX has yielded a comparatively higher 10.23% annualized return.
MGRAX
- 1D
- 0.51%
- 1M
- 0.58%
- 6M
- 0.72%
- YTD
- 3.75%
- 1Y
- 9.63%
- 3Y*
- 11.75%
- 5Y*
- 5.85%
- 10Y*
- 9.38%
- ALL TIME*
- 6.54%
MIEIX
- 1D
- 0.23%
- 1M
- 3.69%
- 6M
- 7.22%
- YTD
- 8.70%
- 1Y
- 16.42%
- 3Y*
- 13.61%
- 5Y*
- 8.04%
- 10Y*
- 10.23%
- ALL TIME*
- 8.23%
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 |
MGRAX vs. MIEIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MGRAX MFS International Growth Fund | 3.75% | 20.73% | 8.82% | 14.54% | -15.31% | 9.20% | 15.45% | 26.83% | -9.09% | 32.15% |
MIEIX MFS International Equity Fund Class R6 | 8.70% | 23.22% | 4.13% | 19.06% | -14.82% | 15.13% | 11.11% | 28.42% | -10.66% | 28.01% |
Correlation
The correlation between MGRAX and MIEIX is 0.92, 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. | 0.92 |
Correlation (3Y) Balances recent behavior with more history. | 0.94 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Jan 30, 1996 | 0.96 |
The correlation between MGRAX and MIEIX has been stable across timeframes, ranging from 0.92 to 0.96 - a consistent structural relationship.
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Return for Risk
MGRAX vs. MIEIX — Risk / Return Rank
MGRAX
MIEIX
MGRAX vs. MIEIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS International Growth Fund (MGRAX) and MFS International Equity Fund Class R6 (MIEIX). 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 | MIEIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.58 | ||
| Sortino ratioReturn per unit of downside risk | -0.79 | ||
| Omega ratioGain probability vs. loss probability | 1.15 | 1.25 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | 0.89 | 1.60 | -0.71 |
| Martin ratioReturn relative to average drawdown | 2.68 | 5.79 | -3.11 |
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Drawdowns
MGRAX vs. MIEIX - Drawdown Comparison
The maximum MGRAX drawdown since its inception was -55.29%, roughly equal to the maximum MIEIX drawdown of -53.13%. Use the drawdown chart below to compare losses from any high point for MGRAX and MIEIX.
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Drawdown Indicators
| MGRAX | MIEIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.29% | -53.13% | -2.16% |
Max Drawdown (1Y)Largest decline over 1 year | -12.42% | -11.26% | -1.16% |
Max Drawdown (3Y)Largest decline over 3 years | -13.32% | -13.43% | +0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -30.58% | -28.07% | -2.51% |
Max Drawdown (10Y)Largest decline over 10 years | -30.58% | -31.35% | +0.77% |
Current DrawdownCurrent decline from peak | -3.05% | 0.00% | -3.05% |
Average DrawdownAverage peak-to-trough decline | -10.82% | -8.93% | -1.89% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.13% | 3.10% | +1.03% |
Volatility
MGRAX vs. MIEIX - Volatility Comparison
MFS International Growth Fund (MGRAX) has a higher volatility of 3.80% compared to MFS International Equity Fund Class R6 (MIEIX) at 3.39%. This indicates that MGRAX's price experiences larger fluctuations and is considered to be riskier than MIEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGRAX | MIEIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.80% | 3.39% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 12.06% | 10.92% | +1.14% |
Volatility (1Y)Calculated over the trailing 1-year period | 14.18% | 13.25% | +0.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.75% | 15.39% | +0.36% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 15.57% | 15.67% | -0.10% |
MGRAX vs. MIEIX - Expense Ratio Comparison
MGRAX has a 1.06% expense ratio, which is higher than MIEIX's 0.64% expense ratio.
Dividends
MGRAX vs. MIEIX - Dividend Comparison
MGRAX's dividend yield for the trailing twelve months is around 5.16%, more than MIEIX's 2.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MGRAX MFS International Growth Fund | 5.16% | 5.35% | 5.99% | 2.56% | 2.69% | 6.62% | 0.56% | 1.42% | 3.82% | 2.26% | 1.01% | 1.06% |
MIEIX MFS International Equity Fund Class R6 | 2.46% | 2.68% | 1.47% | 1.67% | 1.26% | 5.40% | 1.00% | 3.12% | 1.63% | 1.85% | 1.78% | 1.71% |
Frequently Asked Questions
With a correlation of 0.92, MGRAX and MIEIX 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.
MGRAX has higher volatility (3.80%) compared to MIEIX (3.39%). In terms of maximum drawdown, MGRAX dropped -55.29% vs MIEIX's -53.13%.
MIEIX currently has the higher Sharpe Ratio (1.36 vs 0.78), 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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