MLFIX vs. MITTX

Last updated Jun 4, 2026

MLFIX (MFS Lifetime 2040 Fund) and MITTX (MFS Massachusetts Investors Trust) are both mutual funds - MLFIX is a Target Retirement Date fund managed by MFS, while MITTX is a Large Cap Blend Equities fund managed by MFS. Over the past 10 years, MLFIX returned 10.57%/yr vs 13.61%/yr for MITTX. Their correlation of 0.94 suggests significant overlap in exposure. MLFIX charges 0.00%/yr vs 0.70%/yr for MITTX.

Performance

MLFIX vs. MITTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Lifetime 2040 Fund (MLFIX) and MFS Massachusetts Investors Trust (MITTX). 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 MITTX's 8.10% return. Over the past 10 years, MLFIX has underperformed MITTX with an annualized return of 10.57%, while MITTX has yielded a comparatively higher 13.61% 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%

MITTX

• 1D: 0.08%
• 1M: 3.36%
• YTD: 8.10%
• 6M: 8.84%
• 1Y: 20.83%
• 3Y*: 17.69%
• 5Y*: 10.36%
• 10Y*: 13.61%

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

MLFIX vs. MITTX - 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%
MITTX MFS Massachusetts Investors Trust	8.10%	13.67%	19.69%	19.26%	-16.27%	26.73%	18.72%	31.92%	-5.56%	23.55%

Correlation

The correlation between MLFIX and MITTX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.93
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Sep 30, 2005	0.94

The correlation between MLFIX and MITTX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

MLFIX vs. MITTX — 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

MITTX

MITTX Risk / Return Rank: 40
MITTX Sharpe Ratio Rank: 42
MITTX Sortino Ratio Rank: 39
MITTX Omega Ratio Rank: 41
MITTX Calmar Ratio Rank: 33
MITTX Martin Ratio Rank: 45

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. MITTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Lifetime 2040 Fund (MLFIX) and MFS Massachusetts Investors Trust (MITTX). 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	MITTX	Difference
Sharpe ratio: Return per unit of total volatility	2.13	1.89	+0.24
Sortino ratio: Return per unit of downside risk	3.04	2.62	+0.41
Omega ratio: Gain probability vs. loss probability	1.39	1.34	+0.05
Calmar ratio: Return relative to maximum drawdown	2.66	2.17	+0.49
Martin ratio: Return relative to average drawdown	11.47	9.43	+2.04
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. MITTX - Sharpe Ratio Comparison

The current MLFIX Sharpe Ratio is 2.13, which is comparable to the MITTX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of MLFIX and MITTX, 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	MITTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	1.89	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.65	0.66	-0.01
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.76	0.79	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.48	0.43	+0.04

Drawdowns

MLFIX vs. MITTX - Drawdown Comparison

The maximum MLFIX drawdown since its inception was -54.99%, which is greater than MITTX's maximum drawdown of -49.54%. Use the drawdown chart below to compare losses from any high point for MLFIX and MITTX.

Drawdown Indicators

	MLFIX	MITTX	Difference
Max Drawdown Largest peak-to-trough decline	-54.99%	-49.54%	-5.45%
Max Drawdown (1Y) Largest decline over 1 year	-7.29%	-9.76%	+2.47%
Max Drawdown (3Y) Largest decline over 3 years	-12.76%	-16.10%	+3.34%
Max Drawdown (5Y) Largest decline over 5 years	-22.37%	-23.27%	+0.90%
Max Drawdown (10Y) Largest decline over 10 years	-31.66%	-33.45%	+1.79%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-7.06%	-10.54%	+3.48%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	2.24%	-0.55%

Volatility

MLFIX vs. MITTX - Volatility Comparison

MFS Lifetime 2040 Fund (MLFIX) and MFS Massachusetts Investors Trust (MITTX) have volatilities of 2.51% and 2.44%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLFIX	MITTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.51%	2.44%	+0.07%
Volatility (6M) Calculated over the trailing 6-month period	7.15%	8.56%	-1.41%
Volatility (1Y) Calculated over the trailing 1-year period	9.12%	11.21%	-2.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.65%	15.68%	-3.03%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	13.94%	17.21%	-3.27%

MLFIX vs. MITTX - Expense Ratio Comparison

MLFIX has a 0.00% expense ratio, which is lower than MITTX's 0.70% expense ratio.

Dividends

MLFIX vs. MITTX - Dividend Comparison

MLFIX's dividend yield for the trailing twelve months is around 7.15%, less than MITTX's 13.25% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MITTX MFS Massachusetts Investors Trust	13.25%	14.33%	14.47%	10.96%	9.35%	8.66%	8.14%	7.58%	13.49%	7.27%	5.55%	6.02%
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 MITTX in my portfolio?

With a correlation of 0.90, MLFIX and MITTX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MLFIX or MITTX?

MLFIX has higher volatility (2.51%) compared to MITTX (2.44%). In terms of maximum drawdown, MLFIX dropped -54.99% vs MITTX's -49.54%.

Which has better risk-adjusted returns?

MLFIX currently has the higher Sharpe Ratio (2.13 vs 1.89), 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.