MLFIX vs. MIEIX

Last updated Jun 4, 2026

MLFIX (MFS Lifetime 2040 Fund) and MIEIX (MFS International Equity Fund Class R6) are both mutual funds - MLFIX is a Target Retirement Date fund managed by MFS, while MIEIX is a Foreign Large Cap Equities fund managed by MFS. Over the past 10 years, MLFIX returned 10.57%/yr vs 9.82%/yr for MIEIX. Their correlation of 0.85 suggests significant overlap in exposure. MLFIX charges 0.00%/yr vs 0.68%/yr for MIEIX.

Performance

MLFIX vs. MIEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Lifetime 2040 Fund (MLFIX) and MFS International Equity Fund Class R6 (MIEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLFIX achieves a 8.82% return, which is significantly higher than MIEIX's 3.25% return. Over the past 10 years, MLFIX has outperformed MIEIX with an annualized return of 10.57%, while MIEIX has yielded a comparatively lower 9.82% annualized return.

MLFIX

• 1D: 0.36%
• 1M: 3.15%
• YTD: 8.82%
• 6M: 9.41%
• 1Y: 19.05%
• 3Y*: 15.51%
• 5Y*: 8.23%
• 10Y*: 10.57%

MIEIX

• 1D: 0.17%
• 1M: 3.66%
• YTD: 3.25%
• 6M: 5.80%
• 1Y: 10.30%
• 3Y*: 12.08%
• 5Y*: 7.26%
• 10Y*: 9.82%

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

MLFIX vs. MIEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLFIX MFS Lifetime 2040 Fund	8.82%	15.08%	12.35%	16.29%	-15.32%	18.94%	13.13%	26.08%	-7.51%	20.79%
MIEIX MFS International Equity Fund Class R6	3.25%	23.22%	4.13%	19.06%	-14.82%	15.13%	11.11%	28.42%	-10.66%	28.01%

Correlation

The correlation between MLFIX and MIEIX is 0.83, 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	0.83
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.84
Correlation (All Time) Calculated using the full available price history since Sep 30, 2005	0.85

The correlation between MLFIX and MIEIX has been stable across timeframes, ranging from 0.81 to 0.85 - a consistent structural relationship.

Return for Risk

MLFIX vs. MIEIX — Risk / Return Rank

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

MLFIX

MLFIX Risk / Return Rank: 52
MLFIX Sharpe Ratio Rank: 52
MLFIX Sortino Ratio Rank: 51
MLFIX Omega Ratio Rank: 51
MLFIX Calmar Ratio Rank: 48
MLFIX Martin Ratio Rank: 57

MIEIX

MIEIX Risk / Return Rank: 9
MIEIX Sharpe Ratio Rank: 9
MIEIX Sortino Ratio Rank: 9
MIEIX Omega Ratio Rank: 9
MIEIX Calmar Ratio Rank: 8
MIEIX Martin Ratio Rank: 10

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.

MLFIX vs. MIEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Lifetime 2040 Fund (MLFIX) and MFS International Equity Fund Class R6 (MIEIX). 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.

	MLFIX	MIEIX	Difference
Sharpe ratio: Return per unit of total volatility	2.13	0.73	+1.40
Sortino ratio: Return per unit of downside risk	3.04	1.11	+1.93
Omega ratio: Gain probability vs. loss probability	1.39	1.14	+0.26
Calmar ratio: Return relative to maximum drawdown	2.66	0.85	+1.81
Martin ratio: Return relative to average drawdown	11.47	3.00	+8.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MLFIX vs. MIEIX - Sharpe Ratio Comparison

The current MLFIX Sharpe Ratio is 2.13, which is higher than the MIEIX Sharpe Ratio of 0.73. The chart below compares the historical Sharpe Ratios of MLFIX and MIEIX, 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

	MLFIX	MIEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	0.73	+1.40
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.48	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	0.62	+0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.46	+0.01

Drawdowns

MLFIX vs. MIEIX - Drawdown Comparison

The maximum MLFIX drawdown since its inception was -54.99%, roughly equal to the maximum MIEIX drawdown of -53.13%. Use the drawdown chart below to compare losses from any high point for MLFIX and MIEIX.

Drawdown Indicators

	MLFIX	MIEIX	Difference
Max Drawdown Largest peak-to-trough decline	-54.99%	-53.13%	-1.86%
Max Drawdown (1Y) Largest decline over 1 year	-7.29%	-11.26%	+3.97%
Max Drawdown (3Y) Largest decline over 3 years	-12.76%	-13.43%	+0.67%
Max Drawdown (5Y) Largest decline over 5 years	-22.37%	-28.07%	+5.70%
Max Drawdown (10Y) Largest decline over 10 years	-31.66%	-31.35%	-0.31%
Current Drawdown Current decline from peak	0.00%	-1.48%	+1.48%
Average Drawdown Average peak-to-trough decline	-7.06%	-8.98%	+1.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	3.19%	-1.50%

Volatility

MLFIX vs. MIEIX - Volatility Comparison

The current volatility for MFS Lifetime 2040 Fund (MLFIX) is 2.51%, while MFS International Equity Fund Class R6 (MIEIX) has a volatility of 3.45%. This indicates that MLFIX experiences smaller price fluctuations and is considered to be less risky than MIEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLFIX	MIEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.51%	3.45%	-0.94%
Volatility (6M) Calculated over the trailing 6-month period	7.15%	10.21%	-3.06%
Volatility (1Y) Calculated over the trailing 1-year period	9.12%	13.17%	-4.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.65%	15.34%	-2.69%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.94%	15.94%	-2.00%

MLFIX vs. MIEIX - Expense Ratio Comparison

MLFIX has a 0.00% expense ratio, which is lower than MIEIX's 0.68% expense ratio.

Dividends

MLFIX vs. MIEIX - Dividend Comparison

MLFIX's dividend yield for the trailing twelve months is around 7.15%, more than MIEIX's 2.59% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MIEIX MFS International Equity Fund Class R6	2.59%	2.68%	1.47%	1.67%	1.26%	5.40%	1.00%	3.12%	1.63%	1.85%	1.78%	1.71%
MLFIX MFS Lifetime 2040 Fund	7.15%	7.79%	5.41%	3.58%	6.61%	8.92%	3.07%	5.79%	6.06%	3.56%	6.91%	2.20%

Frequently Asked Questions

Can I hold both MLFIX and MIEIX in my portfolio?

MLFIX and MIEIX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MLFIX or MIEIX?

MIEIX has higher volatility (3.45%) compared to MLFIX (2.51%). In terms of maximum drawdown, MLFIX dropped -54.99% vs MIEIX's -53.13%.

Which has better risk-adjusted returns?

MLFIX currently has the higher Sharpe Ratio (2.13 vs 0.73), 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.