MGRVX vs. JMST

Last updated Aug 4, 2026

MGRVX (MFS International Growth Fund Class R4) and JMST (JPMorgan Ultra-Short Municipal Income ETF) are both funds - MGRVX is a Foreign Large Cap Equities fund managed by MFS, while JMST is a Ultrashort Bond fund actively managed by JPMorgan. Over the past 5 years, MGRVX returned 6.16%/yr vs 2.32%/yr for JMST. Their 0.10 correlation means their historical movements had little consistent relationship. MGRVX charges 0.83%/yr vs 0.18%/yr for JMST.

Performance

MGRVX vs. JMST - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS International Growth Fund Class R4 (MGRVX) and JPMorgan Ultra-Short Municipal Income ETF (JMST). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MGRVX achieves a 3.37% return, which is significantly higher than JMST's 1.30% return.

MGRVX

• 1D: -0.41%
• 1M: 0.08%
• 6M: -0.30%
• YTD: 3.37%
• 1Y: 10.78%
• 3Y*: 11.06%
• 5Y*: 6.16%
• 10Y*: 9.63%
• ALL TIME*: 8.09%

JMST

• 1D: 0.08%
• 1M: 0.04%
• 6M: 0.97%
• YTD: 1.30%
• 1Y: 2.53%
• 3Y*: 3.29%
• 5Y*: 2.32%
• 10Y*: —
• ALL TIME*: 2.14%

*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)
JMST JPMorgan Ultra-Short Municipal Income ETF	$53.93M	$50.59M	$58.90M
MGRVX MFS International Growth Fund Class R4	$0.00	$0.00	$0.00

MGRVX vs. JMST - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MGRVX MFS International Growth Fund Class R4	3.37%	21.04%	9.10%	14.82%	-15.10%	9.50%	15.70%	27.19%	-5.02%
JMST JPMorgan Ultra-Short Municipal Income ETF	1.30%	3.35%	3.31%	3.56%	0.07%	0.31%	2.00%	2.09%	0.70%

Correlation

The correlation between MGRVX and JMST is 0.28, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.28
Correlation (3Y) Balances recent behavior with more history.	0.14
Correlation (5Y) Shows whether the relationship held over a longer period.	0.15
Correlation (All Time) Calculated using the full available price history since Oct 18, 2018	0.10

The correlation between MGRVX and JMST shifts across timeframes, from 0.10 (all time) to 0.28 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MGRVX vs. JMST — Risk / Return Rank

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

MGRVX

MGRVX Risk / Return Rank: 16
MGRVX Sharpe Ratio Rank: 16
MGRVX Sortino Ratio Rank: 16
MGRVX Omega Ratio Rank: 17
MGRVX Calmar Ratio Rank: 14
MGRVX Martin Ratio Rank: 16

JMST

JMST Risk / Return Rank: 98
JMST Sharpe Ratio Rank: 98
JMST Sortino Ratio Rank: 98
JMST Omega Ratio Rank: 98
JMST Calmar Ratio Rank: 98
JMST Martin Ratio Rank: 98

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.

MGRVX vs. JMST - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS International Growth Fund Class R4 (MGRVX) and JPMorgan Ultra-Short Municipal Income ETF (JMST). 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.

	MGRVX	JMST	Difference
Sharpe ratio: Return per unit of total volatility	0.69	4.04	-3.34
Sortino ratio: Return per unit of downside risk	1.04	6.47	-5.43
Omega ratio: Gain probability vs. loss probability	1.13	2.07	-0.94
Calmar ratio: Return relative to maximum drawdown	0.79	9.96	-9.17
Martin ratio: Return relative to average drawdown	2.38	50.98	-48.59

MGRVX vs. JMST - Sharpe Ratio Comparison

The current MGRVX Sharpe Ratio is 0.69, which is lower than the JMST Sharpe Ratio of 4.04. The chart below compares the historical Sharpe Ratios of MGRVX and JMST, 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

MGRVX vs. JMST - Drawdown Comparison

The maximum MGRVX drawdown since its inception was -36.30%, which is greater than JMST's maximum drawdown of -2.41%. Use the drawdown chart below to compare losses from any high point for MGRVX and JMST.

Drawdown Indicators

	MGRVX	JMST	Difference
Max Drawdown Largest peak-to-trough decline	-36.30%	-2.41%	-33.89%
Max Drawdown (1Y) Largest decline over 1 year	-12.40%	-0.25%	-12.15%
Max Drawdown (3Y) Largest decline over 3 years	-13.26%	-0.71%	-12.55%
Max Drawdown (5Y) Largest decline over 5 years	-30.56%	-1.15%	-29.41%
Max Drawdown (10Y) Largest decline over 10 years	-30.56%	—	—
Current Drawdown Current decline from peak	-3.44%	0.00%	-3.44%
Average Drawdown Average peak-to-trough decline	-6.63%	-0.12%	-6.51%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.10%	0.05%	+4.05%

Volatility

MGRVX vs. JMST - Volatility Comparison

MFS International Growth Fund Class R4 (MGRVX) has a higher volatility of 3.95% compared to JPMorgan Ultra-Short Municipal Income ETF (JMST) at 0.22%. This indicates that MGRVX's price experiences larger fluctuations and is considered to be riskier than JMST based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGRVX	JMST	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.95%	0.22%	+3.73%
Volatility (6M) Calculated over the trailing 6-month period	12.16%	0.44%	+11.72%
Volatility (1Y) Calculated over the trailing 1-year period	14.19%	0.63%	+13.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.78%	0.83%	+14.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.59%	1.13%	+14.46%

MGRVX vs. JMST - Expense Ratio Comparison

MGRVX has a 0.83% expense ratio, which is higher than JMST's 0.18% expense ratio.

Dividends

MGRVX vs. JMST - Dividend Comparison

MGRVX's dividend yield for the trailing twelve months is around 5.32%, more than JMST's 2.61% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
JMST JPMorgan Ultra-Short Municipal Income ETF	2.61%	2.84%	3.32%	3.09%	1.10%	0.27%	0.87%	1.63%	0.28%	0.00%	0.00%	0.00%
MGRVX MFS International Growth Fund Class R4	5.32%	5.50%	6.21%	2.73%	2.94%	6.84%	0.72%	1.48%	4.10%	2.53%	1.22%	1.15%

Frequently Asked Questions

Can I hold both MGRVX and JMST in my portfolio?

MGRVX and JMST have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGRVX or JMST?

MGRVX has higher volatility (3.95%) compared to JMST (0.22%). In terms of maximum drawdown, MGRVX dropped -36.30% vs JMST's -2.41%.

Which has better risk-adjusted returns?

JMST currently has the higher Sharpe Ratio (4.04 vs 0.69), 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.