MIOFX vs. ANDIX

Last updated Jun 4, 2026

MIOFX (Marsico International Opportunities Fund) and ANDIX (AQR International Defensive Style Fund) are both Foreign Large Cap Equities funds. A 0.78 correlation means they provide meaningful diversification when combined. MIOFX charges 1.50%/yr vs 0.55%/yr for ANDIX.

Performance

MIOFX vs. ANDIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Marsico International Opportunities Fund (MIOFX) and AQR International Defensive Style Fund (ANDIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MIOFX

• 1D: 0.33%
• 1M: 8.98%
• YTD: 12.35%
• 6M: 13.75%
• 1Y: 22.77%
• 3Y*: 27.67%
• 5Y*: 11.68%
• 10Y*: 12.27%

ANDIX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MIOFX vs. ANDIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MIOFX Marsico International Opportunities Fund	12.35%	28.54%	36.31%	17.96%	-23.71%	4.93%	20.59%	31.39%	-18.18%	44.09%
ANDIX AQR International Defensive Style Fund	5.63%	21.41%	2.83%	12.06%	-14.26%	7.59%	8.43%	18.39%	-10.35%	22.86%

Correlation

The correlation between MIOFX and ANDIX is 0.52, 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	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.64
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jul 10, 2012	0.78

Over the past year, the correlation between MIOFX and ANDIX has dropped to 0.52 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.

Return for Risk

MIOFX vs. ANDIX — Risk / Return Rank

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

MIOFX

MIOFX Risk / Return Rank: 18
MIOFX Sharpe Ratio Rank: 18
MIOFX Sortino Ratio Rank: 19
MIOFX Omega Ratio Rank: 18
MIOFX Calmar Ratio Rank: 18
MIOFX Martin Ratio Rank: 18

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.

MIOFX vs. ANDIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Marsico International Opportunities Fund (MIOFX) and AQR International Defensive Style Fund (ANDIX). 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.

	MIOFX	ANDIX	Difference
Sharpe ratio: Return per unit of total volatility	1.19	—	—
Sortino ratio: Return per unit of downside risk	1.81	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	1.53	—	—
Martin ratio: Return relative to average drawdown	4.96	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MIOFX	ANDIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.19	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	—	—

Drawdowns

Drawdown Indicators

	MIOFX	ANDIX	Difference
Max Drawdown Largest peak-to-trough decline	-63.83%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-15.37%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-17.52%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-38.75%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-38.75%	—	—
Current Drawdown Current decline from peak	0.00%	—	—
Average Drawdown Average peak-to-trough decline	-17.13%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	4.73%	—	—

Volatility

Volatility by Period

	MIOFX	ANDIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.66%	—	—
Volatility (6M) Calculated over the trailing 6-month period	16.45%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	19.70%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.88%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.68%	—	—

MIOFX vs. ANDIX - Expense Ratio Comparison

MIOFX has a 1.50% expense ratio, which is higher than ANDIX's 0.55% expense ratio.

Dividends

MIOFX vs. ANDIX - Dividend Comparison

MIOFX's dividend yield for the trailing twelve months is around 4.22%, less than ANDIX's 70.16% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ANDIX AQR International Defensive Style Fund	70.16%	4.74%	2.29%	3.02%	2.00%	2.53%	1.73%	2.51%	2.40%	3.30%	1.47%	2.09%
MIOFX Marsico International Opportunities Fund	4.22%	4.75%	4.95%	0.38%	0.17%	13.41%	2.44%	4.20%	9.36%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MIOFX and ANDIX in my portfolio?

MIOFX and ANDIX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.