MGTIX vs. FXAIX

Last updated Aug 1, 2026

MGTIX (MFS Massachusetts Investors Growth Stock Fund) and FXAIX (Fidelity 500 Index Fund) are both mutual funds - MGTIX is a Large Cap Growth Equities fund managed by MFS, while FXAIX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, MGTIX returned 14.31%/yr vs 15.00%/yr for FXAIX. Their correlation of 0.95 means they have usually moved in the same direction. MGTIX charges 0.45%/yr vs 0.02%/yr for FXAIX.

Performance

MGTIX vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Massachusetts Investors Growth Stock Fund (MGTIX) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MGTIX achieves a -1.65% return, which is significantly lower than FXAIX's 9.35% return. Both investments have delivered pretty close results over the past 10 years, with MGTIX having a 14.31% annualized return and FXAIX not far ahead at 15.00%.

MGTIX

• 1D: 1.32%
• 1M: 0.92%
• 6M: -0.92%
• YTD: -1.65%
• 1Y: 3.92%
• 3Y*: 13.14%
• 5Y*: 8.36%
• 10Y*: 14.31%
• ALL TIME*: 9.49%

FXAIX

• 1D: 1.66%
• 1M: -0.56%
• 6M: 7.79%
• YTD: 9.35%
• 1Y: 20.63%
• 3Y*: 19.03%
• 5Y*: 12.68%
• 10Y*: 15.00%
• ALL TIME*: 13.89%

*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)
FXAIX Fidelity 500 Index Fund	$0.00	$0.00	$0.00
MGTIX MFS Massachusetts Investors Growth Stock Fund	$0.00	$0.00	$0.00

MGTIX vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGTIX MFS Massachusetts Investors Growth Stock Fund	-1.65%	10.23%	27.38%	24.40%	-18.99%	26.41%	22.84%	40.17%	1.07%	28.97%
FXAIX Fidelity 500 Index Fund	9.35%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.42%	31.48%	-4.43%	21.82%

Correlation

The correlation between MGTIX and FXAIX is 0.88, 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.	0.88
Correlation (3Y) Balances recent behavior with more history.	0.92
Correlation (5Y) Shows whether the relationship held over a longer period.	0.94
Correlation (10Y) Provides a long-term view across more market conditions.	0.94
Correlation (All Time) Calculated using the full available price history since May 4, 2011	0.95

The correlation between MGTIX and FXAIX has been stable across timeframes, ranging from 0.88 to 0.95 - a consistent structural relationship.

Return for Risk

MGTIX vs. FXAIX — Risk / Return Rank

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

MGTIX

MGTIX Risk / Return Rank: 6
MGTIX Sharpe Ratio Rank: 6
MGTIX Sortino Ratio Rank: 6
MGTIX Omega Ratio Rank: 6
MGTIX Calmar Ratio Rank: 6
MGTIX Martin Ratio Rank: 6

FXAIX

FXAIX Risk / Return Rank: 64
FXAIX Sharpe Ratio Rank: 61
FXAIX Sortino Ratio Rank: 58
FXAIX Omega Ratio Rank: 59
FXAIX Calmar Ratio Rank: 65
FXAIX Martin Ratio Rank: 76

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.

MGTIX vs. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Massachusetts Investors Growth Stock Fund (MGTIX) and Fidelity 500 Index Fund (FXAIX). 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.

	MGTIX	FXAIX	Difference
Sharpe ratio: Return per unit of total volatility	0.14	1.43	-1.29
Sortino ratio: Return per unit of downside risk	0.29	2.00	-1.71
Omega ratio: Gain probability vs. loss probability	1.03	1.26	-0.22
Calmar ratio: Return relative to maximum drawdown	0.14	2.06	-1.93
Martin ratio: Return relative to average drawdown	0.42	8.86	-8.45

MGTIX vs. FXAIX - Sharpe Ratio Comparison

The current MGTIX Sharpe Ratio is 0.14, which is lower than the FXAIX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of MGTIX and FXAIX, 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

MGTIX vs. FXAIX - Drawdown Comparison

The maximum MGTIX drawdown since its inception was -60.05%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for MGTIX and FXAIX.

Drawdown Indicators

	MGTIX	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-60.05%	-33.79%	-26.26%
Max Drawdown (1Y) Largest decline over 1 year	-13.71%	-8.89%	-4.82%
Max Drawdown (3Y) Largest decline over 3 years	-18.65%	-18.76%	+0.11%
Max Drawdown (5Y) Largest decline over 5 years	-26.52%	-24.50%	-2.02%
Max Drawdown (10Y) Largest decline over 10 years	-32.42%	-33.79%	+1.37%
Current Drawdown Current decline from peak	-3.70%	-2.11%	-1.59%
Average Drawdown Average peak-to-trough decline	-17.06%	-3.77%	-13.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.52%	2.07%	+2.45%

Volatility

MGTIX vs. FXAIX - Volatility Comparison

The current volatility for MFS Massachusetts Investors Growth Stock Fund (MGTIX) is 3.26%, while Fidelity 500 Index Fund (FXAIX) has a volatility of 3.44%. This indicates that MGTIX experiences smaller price fluctuations and is considered to be less risky than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGTIX	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.26%	3.44%	-0.18%
Volatility (6M) Calculated over the trailing 6-month period	10.73%	10.09%	+0.64%
Volatility (1Y) Calculated over the trailing 1-year period	13.36%	12.86%	+0.50%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.61%	17.03%	+0.58%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.19%	18.07%	+0.12%

MGTIX vs. FXAIX - Expense Ratio Comparison

MGTIX has a 0.45% expense ratio, which is higher than FXAIX's 0.02% expense ratio.

Dividends

MGTIX vs. FXAIX - Dividend Comparison

MGTIX's dividend yield for the trailing twelve months is around 10.50%, more than FXAIX's 1.07% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FXAIX Fidelity 500 Index Fund	1.07%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%
MGTIX MFS Massachusetts Investors Growth Stock Fund	10.50%	11.08%	16.84%	4.17%	4.59%	10.30%	7.43%	7.38%	10.72%	6.83%	5.00%	6.61%

Frequently Asked Questions

Can I hold both MGTIX and FXAIX in my portfolio?

MGTIX and FXAIX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGTIX or FXAIX?

FXAIX has higher volatility (3.44%) compared to MGTIX (3.26%). In terms of maximum drawdown, MGTIX dropped -60.05% vs FXAIX's -33.79%.

Which has better risk-adjusted returns?

FXAIX currently has the higher Sharpe Ratio (1.43 vs 0.14), 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.