MIEYX vs. MSTDX

Last updated Jun 6, 2026

MIEYX (MM S&P 500 Index Fund) and MSTDX (MassMutual Short Duration Bond Fund) are both mutual funds - MIEYX is a S&P 500 fund tracking the S&P 500 Index, while MSTDX is a Short-Term Bond fund managed by MassMutual. Over the past 10 years, MIEYX returned 14.51%/yr vs 2.08%/yr for MSTDX. At a correlation of -0.08, they often move in opposite directions. MIEYX charges 0.46%/yr vs 0.51%/yr for MSTDX.

Performance

MIEYX vs. MSTDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MM S&P 500 Index Fund (MIEYX) and MassMutual Short Duration Bond Fund (MSTDX). 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 higher than MSTDX's 0.84% return. Over the past 10 years, MIEYX has outperformed MSTDX with an annualized return of 14.51%, while MSTDX has yielded a comparatively lower 2.08% annualized return.

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%

MSTDX

• 1D: 0.00%
• 1M: -0.10%
• YTD: 0.84%
• 6M: 1.47%
• 1Y: 4.40%
• 3Y*: 5.62%
• 5Y*: 1.36%
• 10Y*: 2.08%

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

MIEYX vs. MSTDX - 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%
MSTDX MassMutual Short Duration Bond Fund	0.84%	6.18%	6.38%	5.88%	-11.19%	1.79%	2.29%	4.49%	1.68%	2.61%

Correlation

The correlation between MIEYX and MSTDX is 0.22, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.22
Correlation (3Y) Calculated over the trailing 3-year period	0.17
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (10Y) Calculated over the trailing 10-year period	0.11
Correlation (All Time) Calculated using the full available price history since Mar 2, 1998	-0.08

The correlation between MIEYX and MSTDX shifts across timeframes, from -0.08 (all time) to 0.22 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MIEYX vs. MSTDX — 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

MSTDX

MSTDX Risk / Return Rank: 87
MSTDX Sharpe Ratio Rank: 74
MSTDX Sortino Ratio Rank: 93
MSTDX Omega Ratio Rank: 90
MSTDX Calmar Ratio Rank: 87
MSTDX Martin Ratio Rank: 90

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. MSTDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MM S&P 500 Index Fund (MIEYX) and MassMutual Short Duration Bond Fund (MSTDX). 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	MSTDX	Difference
Sharpe ratio: Return per unit of total volatility	2.35	2.43	-0.08
Sortino ratio: Return per unit of downside risk	3.21	4.62	-1.41
Omega ratio: Gain probability vs. loss probability	1.43	1.64	-0.22
Calmar ratio: Return relative to maximum drawdown	3.14	4.15	-1.01
Martin ratio: Return relative to average drawdown	14.61	17.40	-2.79
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. MSTDX - Sharpe Ratio Comparison

The current MIEYX Sharpe Ratio is 2.35, which is comparable to the MSTDX Sharpe Ratio of 2.43. The chart below compares the historical Sharpe Ratios of MIEYX and MSTDX, 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	MSTDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.35	2.43	-0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.58	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.65	1.01	-0.37
Sharpe Ratio (All Time) Calculated using the full available price history	0.40	1.24	-0.85

Drawdowns

MIEYX vs. MSTDX - Drawdown Comparison

The maximum MIEYX drawdown since its inception was -55.63%, which is greater than MSTDX's maximum drawdown of -13.31%. Use the drawdown chart below to compare losses from any high point for MIEYX and MSTDX.

Drawdown Indicators

	MIEYX	MSTDX	Difference
Max Drawdown Largest peak-to-trough decline	-55.63%	-13.31%	-42.32%
Max Drawdown (1Y) Largest decline over 1 year	-8.92%	-1.06%	-7.86%
Max Drawdown (3Y) Largest decline over 3 years	-36.63%	-1.06%	-35.57%
Max Drawdown (5Y) Largest decline over 5 years	-36.63%	-13.31%	-23.32%
Max Drawdown (10Y) Largest decline over 10 years	-36.63%	-13.31%	-23.32%
Current Drawdown Current decline from peak	-2.74%	-0.11%	-2.63%
Average Drawdown Average peak-to-trough decline	-12.57%	-1.43%	-11.14%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	0.25%	+1.66%

Volatility

MIEYX vs. MSTDX - Volatility Comparison

MM S&P 500 Index Fund (MIEYX) has a higher volatility of 2.87% compared to MassMutual Short Duration Bond Fund (MSTDX) at 0.63%. This indicates that MIEYX's price experiences larger fluctuations and is considered to be riskier than MSTDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MIEYX	MSTDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.87%	0.63%	+2.24%
Volatility (6M) Calculated over the trailing 6-month period	9.00%	1.36%	+7.64%
Volatility (1Y) Calculated over the trailing 1-year period	11.91%	1.82%	+10.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.50%	2.33%	+23.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.56%	2.06%	+20.50%

MIEYX vs. MSTDX - Expense Ratio Comparison

MIEYX has a 0.46% expense ratio, which is lower than MSTDX's 0.51% expense ratio.

Dividends

MIEYX vs. MSTDX - Dividend Comparison

MIEYX's dividend yield for the trailing twelve months is around 15.87%, more than MSTDX's 4.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
MSTDX MassMutual Short Duration Bond Fund	4.44%	4.36%	2.63%	2.48%	1.46%	1.90%	4.44%	3.35%	3.82%	2.51%	2.36%	2.57%

Frequently Asked Questions

Can I hold both MIEYX and MSTDX in my portfolio?

MIEYX and MSTDX have a correlation of 0.22, 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 MSTDX?

MIEYX has higher volatility (2.87%) compared to MSTDX (0.63%). In terms of maximum drawdown, MIEYX dropped -55.63% vs MSTDX's -13.31%.

Which has better risk-adjusted returns?

MSTDX currently has the higher Sharpe Ratio (2.43 vs 2.35), 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.