MIEYX vs. DLBMX

Last updated Jun 6, 2026

MIEYX (MM S&P 500 Index Fund) and DLBMX (MassMutual Small Cap Opportunities Fund) are both mutual funds - MIEYX is a S&P 500 fund tracking the S&P 500 Index, while DLBMX is a Small Cap Blend Equities fund managed by MassMutual. Over the past 10 years, MIEYX returned 14.51%/yr vs 14.19%/yr for DLBMX. Their correlation of 0.82 suggests significant overlap in exposure. MIEYX charges 0.46%/yr vs 1.20%/yr for DLBMX.

Performance

MIEYX vs. DLBMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MM S&P 500 Index Fund (MIEYX) and MassMutual Small Cap Opportunities Fund (DLBMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MIEYX achieves a 11.10% return, which is significantly lower than DLBMX's 12.90% return. Both investments have delivered pretty close results over the past 10 years, with MIEYX having a 14.51% annualized return and DLBMX not far behind at 14.19%.

MIEYX

• 1D: 0.39%
• 1M: 3.05%
• YTD: 11.10%
• 6M: 10.70%
• 1Y: 28.63%
• 3Y*: 22.11%
• 5Y*: 13.41%
• 10Y*: 14.51%

DLBMX

• 1D: 0.98%
• 1M: 0.98%
• YTD: 12.90%
• 6M: 10.49%
• 1Y: 23.11%
• 3Y*: 16.14%
• 5Y*: 13.58%
• 10Y*: 14.19%

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

MIEYX vs. DLBMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MIEYX MM S&P 500 Index Fund	11.10%	17.27%	24.36%	25.76%	-18.63%	28.02%	17.87%	30.98%	-5.26%	18.90%
DLBMX MassMutual Small Cap Opportunities Fund	12.90%	8.07%	12.30%	17.43%	-16.19%	64.90%	19.75%	25.54%	-11.14%	13.90%

Correlation

The correlation between MIEYX and DLBMX is 0.74, 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	0.74
Correlation (3Y) Calculated over the trailing 3-year period	0.76
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since Jul 14, 1998	0.82

The correlation between MIEYX and DLBMX has been stable across timeframes, ranging from 0.74 to 0.82 - a consistent structural relationship.

Return for Risk

MIEYX vs. DLBMX — Risk / Return Rank

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

MIEYX

MIEYX Risk / Return Rank: 69
MIEYX Sharpe Ratio Rank: 68
MIEYX Sortino Ratio Rank: 62
MIEYX Omega Ratio Rank: 63
MIEYX Calmar Ratio Rank: 71
MIEYX Martin Ratio Rank: 81

DLBMX

DLBMX Risk / Return Rank: 26
DLBMX Sharpe Ratio Rank: 24
DLBMX Sortino Ratio Rank: 25
DLBMX Omega Ratio Rank: 23
DLBMX Calmar Ratio Rank: 28
DLBMX Martin Ratio Rank: 33

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.

MIEYX vs. DLBMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MM S&P 500 Index Fund (MIEYX) and MassMutual Small Cap Opportunities Fund (DLBMX). 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.

	MIEYX	DLBMX	Difference
Sharpe ratio: Return per unit of total volatility	2.35	1.34	+1.01
Sortino ratio: Return per unit of downside risk	3.21	1.98	+1.23
Omega ratio: Gain probability vs. loss probability	1.43	1.24	+0.19
Calmar ratio: Return relative to maximum drawdown	3.14	1.86	+1.28
Martin ratio: Return relative to average drawdown	14.61	7.15	+7.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MIEYX vs. DLBMX - Sharpe Ratio Comparison

The current MIEYX Sharpe Ratio is 2.35, which is higher than the DLBMX Sharpe Ratio of 1.34. The chart below compares the historical Sharpe Ratios of MIEYX and DLBMX, 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

	MIEYX	DLBMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	1.34	+1.01
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.43	+0.10
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	0.51	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	0.43	-0.03

Drawdowns

MIEYX vs. DLBMX - Drawdown Comparison

The maximum MIEYX drawdown since its inception was -55.63%, smaller than the maximum DLBMX drawdown of -65.12%. Use the drawdown chart below to compare losses from any high point for MIEYX and DLBMX.

Drawdown Indicators

	MIEYX	DLBMX	Difference
Max Drawdown Largest peak-to-trough decline	-55.63%	-65.12%	+9.49%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-12.42%	+3.50%
Max Drawdown (3Y) Largest decline over 3 years	-36.63%	-24.84%	-11.79%
Max Drawdown (5Y) Largest decline over 5 years	-36.63%	-29.39%	-7.24%
Max Drawdown (10Y) Largest decline over 10 years	-36.63%	-42.55%	+5.92%
Current Drawdown Current decline from peak	-2.74%	-0.16%	-2.58%
Average Drawdown Average peak-to-trough decline	-12.57%	-10.21%	-2.36%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	3.23%	-1.32%

Volatility

MIEYX vs. DLBMX - Volatility Comparison

The current volatility for MM S&P 500 Index Fund (MIEYX) is 2.87%, while MassMutual Small Cap Opportunities Fund (DLBMX) has a volatility of 5.09%. This indicates that MIEYX experiences smaller price fluctuations and is considered to be less risky than DLBMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MIEYX	DLBMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.87%	5.09%	-2.22%
Volatility (6M) Calculated over the trailing 6-month period	9.00%	12.81%	-3.81%
Volatility (1Y) Calculated over the trailing 1-year period	11.91%	17.27%	-5.36%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.50%	31.68%	-6.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.56%	28.18%	-5.62%

MIEYX vs. DLBMX - Expense Ratio Comparison

MIEYX has a 0.46% expense ratio, which is lower than DLBMX's 1.20% expense ratio.

Dividends

MIEYX vs. DLBMX - Dividend Comparison

MIEYX's dividend yield for the trailing twelve months is around 15.87%, more than DLBMX's 8.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DLBMX MassMutual Small Cap Opportunities Fund	8.96%	10.11%	9.33%	4.73%	0.88%	35.42%	7.82%	0.46%	11.94%	13.55%	3.14%	11.15%
MIEYX MM S&P 500 Index Fund	15.87%	17.63%	32.89%	7.13%	33.24%	13.29%	16.29%	6.38%	19.14%	21.81%	4.19%	2.29%

Frequently Asked Questions

Can I hold both MIEYX and DLBMX in my portfolio?

MIEYX and DLBMX have a correlation of 0.74, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MIEYX or DLBMX?

DLBMX has higher volatility (5.09%) compared to MIEYX (2.87%). In terms of maximum drawdown, MIEYX dropped -55.63% vs DLBMX's -65.12%.

Which has better risk-adjusted returns?

MIEYX currently has the higher Sharpe Ratio (2.35 vs 1.34), 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.