MIFIX vs. CFICX

Last updated Jun 4, 2026

MIFIX (Miller Intermediate Bond Fund) and CFICX (Calvert Income Fund) are both Corporate Bonds funds. Over the past 10 years, MIFIX returned 5.23%/yr vs 3.01%/yr for CFICX. At a 0.18 correlation, their price movements are largely independent. MIFIX charges 0.99%/yr vs 0.92%/yr for CFICX.

Performance

MIFIX vs. CFICX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Miller Intermediate Bond Fund (MIFIX) and Calvert Income Fund (CFICX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MIFIX achieves a 5.40% return, which is significantly higher than CFICX's 0.59% return. Over the past 10 years, MIFIX has outperformed CFICX with an annualized return of 5.23%, while CFICX has yielded a comparatively lower 3.01% annualized return.

MIFIX

• 1D: 0.29%
• 1M: 2.77%
• YTD: 5.40%
• 6M: 5.61%
• 1Y: 10.90%
• 3Y*: 8.33%
• 5Y*: 3.88%
• 10Y*: 5.23%

CFICX

• 1D: 0.07%
• 1M: 0.64%
• YTD: 0.59%
• 6M: 0.73%
• 1Y: 6.37%
• 3Y*: 6.12%
• 5Y*: 1.05%
• 10Y*: 3.01%

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

MIFIX vs. CFICX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MIFIX Miller Intermediate Bond Fund	5.40%	7.11%	7.31%	6.88%	-7.72%	4.32%	14.22%	9.79%	-1.91%	3.10%
CFICX Calvert Income Fund	0.59%	8.94%	4.11%	7.61%	-16.07%	1.71%	8.26%	14.75%	-3.36%	6.57%

Correlation

The correlation between MIFIX and CFICX is 0.42, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.42
Correlation (3Y) Calculated over the trailing 3-year period	0.33
Correlation (5Y) Calculated over the trailing 5-year period	0.29
Correlation (10Y) Calculated over the trailing 10-year period	0.17
Correlation (All Time) Calculated using the full available price history since Jan 5, 2015	0.18

Over the past year, MIFIX and CFICX have become more correlated (0.42) than their long-term average of 0.18, meaning their price movements have been converging.

Return for Risk

MIFIX vs. CFICX — Risk / Return Rank

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

MIFIX

MIFIX Risk / Return Rank: 92
MIFIX Sharpe Ratio Rank: 97
MIFIX Sortino Ratio Rank: 98
MIFIX Omega Ratio Rank: 95
MIFIX Calmar Ratio Rank: 86
MIFIX Martin Ratio Rank: 87

CFICX

CFICX Risk / Return Rank: 35
CFICX Sharpe Ratio Rank: 36
CFICX Sortino Ratio Rank: 40
CFICX Omega Ratio Rank: 37
CFICX Calmar Ratio Rank: 30
CFICX Martin Ratio Rank: 30

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.

MIFIX vs. CFICX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Miller Intermediate Bond Fund (MIFIX) and Calvert Income Fund (CFICX). 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.

	MIFIX	CFICX	Difference
Sharpe ratio: Return per unit of total volatility	3.69	1.73	+1.95
Sortino ratio: Return per unit of downside risk	6.02	2.65	+3.37
Omega ratio: Gain probability vs. loss probability	1.77	1.32	+0.45
Calmar ratio: Return relative to maximum drawdown	4.16	2.07	+2.09
Martin ratio: Return relative to average drawdown	16.72	6.95	+9.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MIFIX vs. CFICX - Sharpe Ratio Comparison

The current MIFIX Sharpe Ratio is 3.69, which is higher than the CFICX Sharpe Ratio of 1.73. The chart below compares the historical Sharpe Ratios of MIFIX and CFICX, 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

	MIFIX	CFICX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.69	1.73	+1.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.19	+0.59
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.97	0.58	+0.39
Sharpe Ratio (All Time) Calculated using the full available price history	1.00	1.01	-0.01

Drawdowns

MIFIX vs. CFICX - Drawdown Comparison

The maximum MIFIX drawdown since its inception was -15.58%, smaller than the maximum CFICX drawdown of -21.28%. Use the drawdown chart below to compare losses from any high point for MIFIX and CFICX.

Drawdown Indicators

	MIFIX	CFICX	Difference
Max Drawdown Largest peak-to-trough decline	-15.58%	-21.28%	+5.70%
Max Drawdown (1Y) Largest decline over 1 year	-2.68%	-3.08%	+0.40%
Max Drawdown (3Y) Largest decline over 3 years	-5.39%	-6.11%	+0.72%
Max Drawdown (5Y) Largest decline over 5 years	-11.87%	-21.28%	+9.41%
Max Drawdown (10Y) Largest decline over 10 years	-15.58%	-21.28%	+5.70%
Current Drawdown Current decline from peak	0.00%	-1.08%	+1.08%
Average Drawdown Average peak-to-trough decline	-2.06%	-3.46%	+1.40%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.67%	0.92%	-0.25%

Volatility

MIFIX vs. CFICX - Volatility Comparison

The current volatility for Miller Intermediate Bond Fund (MIFIX) is 1.15%, while Calvert Income Fund (CFICX) has a volatility of 1.50%. This indicates that MIFIX experiences smaller price fluctuations and is considered to be less risky than CFICX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MIFIX	CFICX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.15%	1.50%	-0.35%
Volatility (6M) Calculated over the trailing 6-month period	2.19%	2.82%	-0.63%
Volatility (1Y) Calculated over the trailing 1-year period	3.02%	3.69%	-0.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.01%	5.64%	-0.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.41%	5.22%	+0.19%

MIFIX vs. CFICX - Expense Ratio Comparison

MIFIX has a 0.99% expense ratio, which is higher than CFICX's 0.92% expense ratio.

Dividends

MIFIX vs. CFICX - Dividend Comparison

MIFIX's dividend yield for the trailing twelve months is around 3.96%, less than CFICX's 4.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CFICX Calvert Income Fund	4.74%	4.86%	4.91%	4.05%	3.22%	2.70%	2.96%	3.25%	3.60%	2.96%	3.23%	2.87%
MIFIX Miller Intermediate Bond Fund	3.96%	4.59%	4.08%	3.60%	3.62%	5.87%	5.16%	2.36%	5.16%	3.90%	1.48%	1.78%

Frequently Asked Questions

Can I hold both MIFIX and CFICX in my portfolio?

MIFIX and CFICX have a correlation of 0.42, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MIFIX or CFICX?

CFICX has higher volatility (1.50%) compared to MIFIX (1.15%). In terms of maximum drawdown, MIFIX dropped -15.58% vs CFICX's -21.28%.

Which has better risk-adjusted returns?

MIFIX currently has the higher Sharpe Ratio (3.69 vs 1.73), 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.