MIOFX vs. MXXIX

Last updated Jun 4, 2026

MIOFX (Marsico International Opportunities Fund) and MXXIX (Marsico Midcap Growth Focus Fund) are both mutual funds - MIOFX is a Foreign Large Cap Equities fund managed by Marsico Investment Fund, while MXXIX is a Mid Cap Growth Equities fund managed by Marsico Investment Fund. Over the past 10 years, MIOFX returned 12.27%/yr vs 16.96%/yr for MXXIX. A 0.73 correlation means they provide meaningful diversification when combined. MIOFX charges 1.50%/yr vs 1.33%/yr for MXXIX.

Performance

MIOFX vs. MXXIX - Performance Comparison

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

Returns By Period

In the year-to-date period, MIOFX achieves a 12.35% return, which is significantly lower than MXXIX's 14.82% return. Over the past 10 years, MIOFX has underperformed MXXIX with an annualized return of 12.27%, while MXXIX has yielded a comparatively higher 16.96% annualized return.

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%

MXXIX

• 1D: 0.52%
• 1M: 4.24%
• YTD: 14.82%
• 6M: 16.03%
• 1Y: 29.18%
• 3Y*: 32.53%
• 5Y*: 13.43%
• 10Y*: 16.96%

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

MIOFX vs. MXXIX - 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%
MXXIX Marsico Midcap Growth Focus Fund	14.82%	26.09%	42.95%	21.71%	-31.84%	12.04%	45.34%	29.88%	1.76%	30.05%

Correlation

The correlation between MIOFX and MXXIX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.80
Correlation (10Y) Calculated over the trailing 10-year period	0.75
Correlation (All Time) Calculated using the full available price history since Jul 3, 2000	0.73

The correlation between MIOFX and MXXIX has been stable across timeframes, ranging from 0.73 to 0.82 - a consistent structural relationship.

Return for Risk

MIOFX vs. MXXIX — 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

MXXIX

MXXIX Risk / Return Rank: 33
MXXIX Sharpe Ratio Rank: 30
MXXIX Sortino Ratio Rank: 29
MXXIX Omega Ratio Rank: 27
MXXIX Calmar Ratio Rank: 37
MXXIX Martin Ratio Rank: 41

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. MXXIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Marsico International Opportunities Fund (MIOFX) and Marsico Midcap Growth Focus Fund (MXXIX). 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	MXXIX	Difference
Sharpe ratio: Return per unit of total volatility	1.19	1.57	-0.37
Sortino ratio: Return per unit of downside risk	1.81	2.22	-0.41
Omega ratio: Gain probability vs. loss probability	1.22	1.27	-0.05
Calmar ratio: Return relative to maximum drawdown	1.53	2.31	-0.79
Martin ratio: Return relative to average drawdown	4.96	8.77	-3.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MIOFX vs. MXXIX - Sharpe Ratio Comparison

The current MIOFX Sharpe Ratio is 1.19, which is comparable to the MXXIX Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of MIOFX and MXXIX, 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

	MIOFX	MXXIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.19	1.57	-0.37
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	0.59	0.00
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.66	0.78	-0.12
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.41	-0.06

Drawdowns

MIOFX vs. MXXIX - Drawdown Comparison

The maximum MIOFX drawdown since its inception was -63.83%, roughly equal to the maximum MXXIX drawdown of -62.49%. Use the drawdown chart below to compare losses from any high point for MIOFX and MXXIX.

Drawdown Indicators

	MIOFX	MXXIX	Difference
Max Drawdown Largest peak-to-trough decline	-63.83%	-62.49%	-1.34%
Max Drawdown (1Y) Largest decline over 1 year	-15.37%	-13.07%	-2.30%
Max Drawdown (3Y) Largest decline over 3 years	-17.52%	-20.05%	+2.53%
Max Drawdown (5Y) Largest decline over 5 years	-38.75%	-40.59%	+1.84%
Max Drawdown (10Y) Largest decline over 10 years	-38.75%	-40.59%	+1.84%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-17.13%	-18.37%	+1.24%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.73%	3.44%	+1.29%

Volatility

MIOFX vs. MXXIX - Volatility Comparison

Marsico International Opportunities Fund (MIOFX) has a higher volatility of 7.66% compared to Marsico Midcap Growth Focus Fund (MXXIX) at 6.28%. This indicates that MIOFX's price experiences larger fluctuations and is considered to be riskier than MXXIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MIOFX	MXXIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.66%	6.28%	+1.38%
Volatility (6M) Calculated over the trailing 6-month period	16.45%	15.46%	+0.99%
Volatility (1Y) Calculated over the trailing 1-year period	19.70%	19.29%	+0.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.88%	22.77%	-2.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.68%	21.81%	-3.13%

MIOFX vs. MXXIX - Expense Ratio Comparison

MIOFX has a 1.50% expense ratio, which is higher than MXXIX's 1.33% expense ratio.

Dividends

MIOFX vs. MXXIX - Dividend Comparison

MIOFX's dividend yield for the trailing twelve months is around 4.22%, less than MXXIX's 10.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
MIOFX Marsico International Opportunities Fund	4.22%	4.75%	4.95%	0.38%	0.17%	13.41%	2.44%	4.20%	9.36%
MXXIX Marsico Midcap Growth Focus Fund	10.40%	11.95%	9.18%	1.24%	0.00%	14.22%	2.83%	3.26%	5.37%

Frequently Asked Questions

Can I hold both MIOFX and MXXIX in my portfolio?

MIOFX and MXXIX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MIOFX or MXXIX?

MIOFX has higher volatility (7.66%) compared to MXXIX (6.28%). In terms of maximum drawdown, MIOFX dropped -63.83% vs MXXIX's -62.49%.

Which has better risk-adjusted returns?

MXXIX currently has the higher Sharpe Ratio (1.57 vs 1.19), 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.