MIDLX vs. USHY
MIDLX (MFS International New Discovery Fund Class R6) and USHY (iShares Broad USD High Yield Corporate Bond ETF) are both funds - MIDLX is a Foreign Small & Mid Cap Equities fund tracking the MSCI All Country World ex-US Small Mid Cap Index, while USHY is a High Yield Bonds fund tracking the ICE BofA US High Yield Constrained Index. Both are passively managed. Over the past 5 years, MIDLX returned 2.83%/yr vs 4.16%/yr for USHY. A 0.62 correlation means they provide meaningful diversification when combined. MIDLX charges 0.91%/yr vs 0.15%/yr for USHY.
Performance
MIDLX vs. USHY - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MIDLX achieves a 3.83% return, which is significantly higher than USHY's 1.29% return.
MIDLX
- 1D
- -2.35%
- 1M
- -3.37%
- YTD
- 3.83%
- 6M
- 4.94%
- 1Y
- 7.50%
- 3Y*
- 9.96%
- 5Y*
- 2.83%
- 10Y*
- 6.41%
USHY
- 1D
- 0.08%
- 1M
- -0.14%
- YTD
- 1.29%
- 6M
- 1.85%
- 1Y
- 6.84%
- 3Y*
- 8.79%
- 5Y*
- 4.16%
- 10Y*
- —
MIDLX vs. USHY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MIDLX MFS International New Discovery Fund Class R6 | 3.83% | 17.03% | 3.33% | 13.21% | -18.52% | 5.17% | 10.15% | 24.97% | -10.29% | 4.41% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 1.29% | 8.81% | 8.45% | 12.73% | -11.18% | 5.02% | 6.17% | 14.24% | -2.41% | 0.16% |
Correlation
The correlation between MIDLX and USHY is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.61 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.64 |
Correlation (All Time) Calculated using the full available price history since Oct 27, 2017 | 0.62 |
The correlation between MIDLX and USHY has been stable across timeframes, ranging from 0.61 to 0.64 - a consistent structural relationship.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MIDLX vs. USHY — Risk / Return Rank
MIDLX
USHY
MIDLX vs. USHY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS International New Discovery Fund Class R6 (MIDLX) and iShares Broad USD High Yield Corporate Bond ETF (USHY). 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.
| MIDLX | USHY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.23 | ||
| Sortino ratioReturn per unit of downside risk | -1.83 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.36 | -0.24 |
| Calmar ratioReturn relative to maximum drawdown | 0.64 | 2.83 | -2.19 |
| Martin ratioReturn relative to average drawdown | 2.20 | 12.68 | -10.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading charts...
Sharpe Ratios by Period
| MIDLX | USHY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.64 | 1.88 | -1.23 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.21 | 0.57 | -0.35 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.46 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.57 | 0.58 | 0.00 |
Drawdowns
MIDLX vs. USHY - Drawdown Comparison
The maximum MIDLX drawdown since its inception was -34.70%, which is greater than USHY's maximum drawdown of -22.44%. Use the drawdown chart below to compare losses from any high point for MIDLX and USHY.
Loading charts...
Drawdown Indicators
| MIDLX | USHY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -34.70% | -22.44% | -12.26% |
Max Drawdown (1Y)Largest decline over 1 year | -11.75% | -2.43% | -9.32% |
Max Drawdown (3Y)Largest decline over 3 years | -13.15% | -4.66% | -8.49% |
Max Drawdown (5Y)Largest decline over 5 years | -33.58% | -15.56% | -18.02% |
Max Drawdown (10Y)Largest decline over 10 years | -34.70% | — | — |
Current DrawdownCurrent decline from peak | -4.51% | -0.41% | -4.10% |
Average DrawdownAverage peak-to-trough decline | -6.92% | -2.66% | -4.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.42% | 0.54% | +2.88% |
Volatility
MIDLX vs. USHY - Volatility Comparison
MFS International New Discovery Fund Class R6 (MIDLX) has a higher volatility of 3.57% compared to iShares Broad USD High Yield Corporate Bond ETF (USHY) at 1.13%. This indicates that MIDLX's price experiences larger fluctuations and is considered to be riskier than USHY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MIDLX | USHY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.57% | 1.13% | +2.44% |
Volatility (6M)Calculated over the trailing 6-month period | 9.79% | 2.95% | +6.84% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.73% | 3.67% | +8.06% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.24% | 7.34% | +5.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.02% | 8.25% | +5.77% |
MIDLX vs. USHY - Expense Ratio Comparison
MIDLX has a 0.91% expense ratio, which is higher than USHY's 0.15% expense ratio.
Dividends
MIDLX vs. USHY - Dividend Comparison
MIDLX's dividend yield for the trailing twelve months is around 3.25%, less than USHY's 6.93% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MIDLX MFS International New Discovery Fund Class R6 | 3.25% | 3.37% | 10.08% | 4.21% | 5.85% | 5.19% | 4.03% | 4.36% | 6.82% | 1.63% | 1.09% | 1.25% |
USHY iShares Broad USD High Yield Corporate Bond ETF | 6.93% | 6.79% | 6.89% | 6.63% | 6.08% | 5.07% | 5.30% | 5.92% | 6.30% | 0.73% | 0.00% | 0.00% |
Frequently Asked Questions
MIDLX and USHY have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MIDLX has higher volatility (3.57%) compared to USHY (1.13%). In terms of maximum drawdown, MIDLX dropped -34.70% vs USHY's -22.44%.
USHY currently has the higher Sharpe Ratio (1.88 vs 0.64), 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.
Find the right allocation for MIDLX and USHY
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer