MIEIX vs. TIIEX

Last updated Jun 4, 2026

MIEIX (MFS International Equity Fund Class R6) and TIIEX (TIAA-CREF International Equity Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, MIEIX returned 9.82%/yr vs 8.42%/yr for TIIEX. Their correlation of 0.91 suggests significant overlap in exposure. MIEIX charges 0.68%/yr vs 0.46%/yr for TIIEX.

Performance

MIEIX vs. TIIEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS International Equity Fund Class R6 (MIEIX) and TIAA-CREF International Equity Fund (TIIEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MIEIX achieves a 3.25% return, which is significantly lower than TIIEX's 7.50% return. Over the past 10 years, MIEIX has outperformed TIIEX with an annualized return of 9.82%, while TIIEX has yielded a comparatively lower 8.42% annualized return.

MIEIX

• 1D: 0.17%
• 1M: 3.66%
• YTD: 3.25%
• 6M: 5.80%
• 1Y: 10.30%
• 3Y*: 12.08%
• 5Y*: 7.26%
• 10Y*: 9.82%

TIIEX

• 1D: 0.54%
• 1M: 4.77%
• YTD: 7.50%
• 6M: 9.07%
• 1Y: 24.35%
• 3Y*: 16.67%
• 5Y*: 7.52%
• 10Y*: 8.42%

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

MIEIX vs. TIIEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MIEIX MFS International Equity Fund Class R6	3.25%	23.22%	4.13%	19.06%	-14.82%	15.13%	11.11%	28.42%	-10.66%	28.01%
TIIEX TIAA-CREF International Equity Fund	7.50%	33.20%	4.00%	16.91%	-17.33%	10.81%	15.81%	23.20%	-23.48%	31.49%

Correlation

The correlation between MIEIX and TIIEX is 0.89, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jun 15, 1999	0.91

The correlation between MIEIX and TIIEX has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

Return for Risk

MIEIX vs. TIIEX — Risk / Return Rank

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

MIEIX

MIEIX Risk / Return Rank: 9
MIEIX Sharpe Ratio Rank: 9
MIEIX Sortino Ratio Rank: 9
MIEIX Omega Ratio Rank: 9
MIEIX Calmar Ratio Rank: 8
MIEIX Martin Ratio Rank: 10

TIIEX

TIIEX Risk / Return Rank: 23
TIIEX Sharpe Ratio Rank: 23
TIIEX Sortino Ratio Rank: 22
TIIEX Omega Ratio Rank: 23
TIIEX Calmar Ratio Rank: 23
TIIEX Martin Ratio Rank: 25

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.

MIEIX vs. TIIEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS International Equity Fund Class R6 (MIEIX) and TIAA-CREF International Equity Fund (TIIEX). 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.

	MIEIX	TIIEX	Difference
Sharpe ratio: Return per unit of total volatility	0.73	1.37	-0.64
Sortino ratio: Return per unit of downside risk	1.11	1.97	-0.86
Omega ratio: Gain probability vs. loss probability	1.14	1.25	-0.11
Calmar ratio: Return relative to maximum drawdown	0.85	1.78	-0.92
Martin ratio: Return relative to average drawdown	3.00	6.17	-3.17
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MIEIX vs. TIIEX - Sharpe Ratio Comparison

The current MIEIX Sharpe Ratio is 0.73, which is lower than the TIIEX Sharpe Ratio of 1.37. The chart below compares the historical Sharpe Ratios of MIEIX and TIIEX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MIEIX	TIIEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.73	1.37	-0.64
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.48	0.44	+0.04
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.47	+0.15
Sharpe Ratio (All Time) Calculated using the full available price history	0.46	0.29	+0.17

Drawdowns

MIEIX vs. TIIEX - Drawdown Comparison

The maximum MIEIX drawdown since its inception was -53.13%, smaller than the maximum TIIEX drawdown of -64.69%. Use the drawdown chart below to compare losses from any high point for MIEIX and TIIEX.

Drawdown Indicators

	MIEIX	TIIEX	Difference
Max Drawdown Largest peak-to-trough decline	-53.13%	-64.69%	+11.56%
Max Drawdown (1Y) Largest decline over 1 year	-11.26%	-13.24%	+1.98%
Max Drawdown (3Y) Largest decline over 3 years	-13.43%	-15.60%	+2.17%
Max Drawdown (5Y) Largest decline over 5 years	-28.07%	-32.07%	+4.00%
Max Drawdown (10Y) Largest decline over 10 years	-31.35%	-42.07%	+10.72%
Current Drawdown Current decline from peak	-1.48%	-2.25%	+0.77%
Average Drawdown Average peak-to-trough decline	-8.98%	-20.21%	+11.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.19%	3.80%	-0.61%

Volatility

MIEIX vs. TIIEX - Volatility Comparison

The current volatility for MFS International Equity Fund Class R6 (MIEIX) is 3.45%, while TIAA-CREF International Equity Fund (TIIEX) has a volatility of 5.45%. This indicates that MIEIX experiences smaller price fluctuations and is considered to be less risky than TIIEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MIEIX	TIIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	5.45%	-2.00%
Volatility (6M) Calculated over the trailing 6-month period	10.21%	14.13%	-3.92%
Volatility (1Y) Calculated over the trailing 1-year period	13.17%	17.13%	-3.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.34%	17.31%	-1.97%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	15.94%	18.09%	-2.15%

MIEIX vs. TIIEX - Expense Ratio Comparison

MIEIX has a 0.68% expense ratio, which is higher than TIIEX's 0.46% expense ratio.

Dividends

MIEIX vs. TIIEX - Dividend Comparison

MIEIX's dividend yield for the trailing twelve months is around 2.59%, less than TIIEX's 10.90% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MIEIX MFS International Equity Fund Class R6	2.59%	2.68%	1.47%	1.67%	1.26%	5.40%	1.00%	3.12%	1.63%	1.85%	1.78%	1.71%
TIIEX TIAA-CREF International Equity Fund	10.90%	11.72%	2.56%	2.66%	2.22%	2.84%	1.21%	1.67%	7.72%	1.29%	1.51%	1.28%

Frequently Asked Questions

Can I hold both MIEIX and TIIEX in my portfolio?

MIEIX and TIIEX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MIEIX or TIIEX?

TIIEX has higher volatility (5.45%) compared to MIEIX (3.45%). In terms of maximum drawdown, MIEIX dropped -53.13% vs TIIEX's -64.69%.

Which has better risk-adjusted returns?

TIIEX currently has the higher Sharpe Ratio (1.37 vs 0.73), 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.