MHOIX vs. CRDOX

Last updated Jul 15, 2026

MHOIX (MFS Global High Yield Fund) and CRDOX (Six Circles Credit Opportunities Fund) are both High Yield Bonds funds. Over the past 5 years, MHOIX returned 3.58%/yr vs 3.14%/yr for CRDOX. A 0.75 correlation means they provide meaningful diversification when combined. MHOIX charges 0.81%/yr vs 0.29%/yr for CRDOX.

Performance

MHOIX vs. CRDOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Global High Yield Fund (MHOIX) and Six Circles Credit Opportunities Fund (CRDOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MHOIX achieves a 1.80% return, which is significantly lower than CRDOX's 2.45% return.

MHOIX

• 1D: 0.00%
• 1M: 0.27%
• 6M: 1.45%
• YTD: 1.80%
• 1Y: 5.94%
• 3Y*: 8.09%
• 5Y*: 3.58%
• 10Y*: 4.66%

CRDOX

• 1D: -0.11%
• 1M: 0.30%
• 6M: 2.00%
• YTD: 2.45%
• 1Y: 6.99%
• 3Y*: 7.67%
• 5Y*: 3.14%
• 10Y*: —

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

MHOIX vs. CRDOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MHOIX MFS Global High Yield Fund	1.80%	8.54%	7.55%	11.97%	-10.72%	2.97%	2.21%
CRDOX Six Circles Credit Opportunities Fund	2.45%	7.48%	8.69%	8.06%	-10.62%	2.66%	1.71%

Correlation

The correlation between MHOIX and CRDOX is 0.64, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.64
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.77
Correlation (All Time) Calculated using the full available price history since Nov 23, 2020	0.75

The correlation between MHOIX and CRDOX shifts across timeframes, from 0.64 (1 year) to 0.77 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MHOIX vs. CRDOX — Risk / Return Rank

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

MHOIX

MHOIX Risk / Return Rank: 84
MHOIX Sharpe Ratio Rank: 81
MHOIX Sortino Ratio Rank: 88
MHOIX Omega Ratio Rank: 88
MHOIX Calmar Ratio Rank: 75
MHOIX Martin Ratio Rank: 89

CRDOX

CRDOX Risk / Return Rank: 86
CRDOX Sharpe Ratio Rank: 91
CRDOX Sortino Ratio Rank: 93
CRDOX Omega Ratio Rank: 92
CRDOX Calmar Ratio Rank: 72
CRDOX Martin Ratio Rank: 82

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.

MHOIX vs. CRDOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Global High Yield Fund (MHOIX) and Six Circles Credit Opportunities Fund (CRDOX). 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.

	MHOIX	CRDOX	Difference
Sharpe ratio: Return per unit of total volatility	2.09	2.47	-0.38
Sortino ratio: Return per unit of downside risk	3.51	3.97	-0.46
Omega ratio: Gain probability vs. loss probability	1.51	1.59	-0.08
Calmar ratio: Return relative to maximum drawdown	2.71	2.61	+0.11
Martin ratio: Return relative to average drawdown	13.07	11.52	+1.55

MHOIX vs. CRDOX - Sharpe Ratio Comparison

The current MHOIX Sharpe Ratio is 2.09, which is comparable to the CRDOX Sharpe Ratio of 2.47. The chart below compares the historical Sharpe Ratios of MHOIX and CRDOX, 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

MHOIX vs. CRDOX - Drawdown Comparison

The maximum MHOIX drawdown since its inception was -40.07%, which is greater than CRDOX's maximum drawdown of -15.92%. Use the drawdown chart below to compare losses from any high point for MHOIX and CRDOX.

Drawdown Indicators

	MHOIX	CRDOX	Difference
Max Drawdown Largest peak-to-trough decline	-40.07%	-15.92%	-24.15%
Max Drawdown (1Y) Largest decline over 1 year	-2.27%	-2.70%	+0.43%
Max Drawdown (3Y) Largest decline over 3 years	-3.63%	-4.66%	+1.03%
Max Drawdown (5Y) Largest decline over 5 years	-16.50%	-15.92%	-0.58%
Max Drawdown (10Y) Largest decline over 10 years	-19.76%	—	—
Current Drawdown Current decline from peak	-0.18%	-0.33%	+0.15%
Average Drawdown Average peak-to-trough decline	-3.38%	-3.46%	+0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.47%	0.61%	-0.14%

Volatility

MHOIX vs. CRDOX - Volatility Comparison

MFS Global High Yield Fund (MHOIX) and Six Circles Credit Opportunities Fund (CRDOX) have volatilities of 0.64% and 0.63%, 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

	MHOIX	CRDOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.64%	0.63%	+0.01%
Volatility (6M) Calculated over the trailing 6-month period	2.32%	2.33%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	2.95%	2.86%	+0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.92%	4.16%	+0.76%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.03%	4.00%	+1.03%

MHOIX vs. CRDOX - Expense Ratio Comparison

MHOIX has a 0.81% expense ratio, which is higher than CRDOX's 0.29% expense ratio.

Dividends

MHOIX vs. CRDOX - Dividend Comparison

MHOIX's dividend yield for the trailing twelve months is around 5.25%, less than CRDOX's 6.57% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CRDOX Six Circles Credit Opportunities Fund	6.57%	5.18%	6.96%	6.86%	5.82%	2.73%	0.33%	0.00%	0.00%	0.00%	0.00%	0.00%
MHOIX MFS Global High Yield Fund	5.25%	5.27%	4.68%	4.03%	7.71%	5.57%	4.45%	4.79%	4.96%	4.99%	5.84%	7.64%

Frequently Asked Questions

Can I hold both MHOIX and CRDOX in my portfolio?

MHOIX and CRDOX have a correlation of 0.64, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MHOIX or CRDOX?

MHOIX has higher volatility (0.64%) compared to CRDOX (0.63%). In terms of maximum drawdown, MHOIX dropped -40.07% vs CRDOX's -15.92%.

Which has better risk-adjusted returns?

CRDOX currently has the higher Sharpe Ratio (2.47 vs 2.09), 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.