MLVHX vs. PAGDX

Last updated Jun 24, 2026

MLVHX (MFS Low Volatility Equity Fund) and PAGDX (Permanent Portfolio Aggressive Growth Fund Class A) are both Large Cap Blend Equities funds. Over the past 5 years, MLVHX returned 7.43%/yr vs 18.19%/yr for PAGDX. A 0.68 correlation means they provide meaningful diversification when combined. MLVHX charges 0.67%/yr vs 1.46%/yr for PAGDX.

Performance

MLVHX vs. PAGDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Low Volatility Equity Fund (MLVHX) and Permanent Portfolio Aggressive Growth Fund Class A (PAGDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLVHX achieves a 1.41% return, which is significantly lower than PAGDX's 10.47% return.

MLVHX

• 1D: -0.11%
• 1M: -1.32%
• YTD: 1.41%
• 6M: 0.67%
• 1Y: 8.19%
• 3Y*: 10.95%
• 5Y*: 7.43%
• 10Y*: 10.63%

PAGDX

• 1D: -1.38%
• 1M: 1.31%
• YTD: 10.47%
• 6M: 7.92%
• 1Y: 34.02%
• 3Y*: 36.82%
• 5Y*: 18.19%
• 10Y*: —

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

MLVHX vs. PAGDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLVHX MFS Low Volatility Equity Fund	1.41%	9.96%	13.91%	12.40%	-10.84%	25.42%	11.63%	27.17%	-1.22%	16.17%
PAGDX Permanent Portfolio Aggressive Growth Fund Class A	10.47%	36.58%	44.15%	38.39%	-26.25%	24.53%	37.32%	40.01%	-12.62%	19.29%

Correlation

The correlation between MLVHX and PAGDX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.53
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017	0.68

Over the past year, the correlation between MLVHX and PAGDX has dropped to 0.47 - well below their long-term average of 0.68, suggesting their price drivers have been diverging.

Return for Risk

MLVHX vs. PAGDX — Risk / Return Rank

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

MLVHX

MLVHX Risk / Return Rank: 14
MLVHX Sharpe Ratio Rank: 15
MLVHX Sortino Ratio Rank: 15
MLVHX Omega Ratio Rank: 13
MLVHX Calmar Ratio Rank: 13
MLVHX Martin Ratio Rank: 14

PAGDX

PAGDX Risk / Return Rank: 63
PAGDX Sharpe Ratio Rank: 51
PAGDX Sortino Ratio Rank: 46
PAGDX Omega Ratio Rank: 46
PAGDX Calmar Ratio Rank: 85
PAGDX Martin Ratio Rank: 85

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.

MLVHX vs. PAGDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Low Volatility Equity Fund (MLVHX) and Permanent Portfolio Aggressive Growth Fund Class A (PAGDX). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	MLVHX	PAGDX	Difference
Sharpe ratio: Return per unit of total volatility	0.99	1.96	-0.97
Sortino ratio: Return per unit of downside risk	1.50	2.63	-1.13
Omega ratio: Gain probability vs. loss probability	1.17	1.34	-0.17
Calmar ratio: Return relative to maximum drawdown	1.15	3.83	-2.68
Martin ratio: Return relative to average drawdown	3.65	14.88	-11.23

MLVHX vs. PAGDX - Sharpe Ratio Comparison

The current MLVHX Sharpe Ratio is 0.99, which is lower than the PAGDX Sharpe Ratio of 1.96. The chart below compares the historical Sharpe Ratios of MLVHX and PAGDX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MLVHX vs. PAGDX - Drawdown Comparison

The maximum MLVHX drawdown since its inception was -34.14%, smaller than the maximum PAGDX drawdown of -38.03%. Use the drawdown chart below to compare losses from any high point for MLVHX and PAGDX.

Drawdown Indicators

	MLVHX	PAGDX	Difference
Max Drawdown Largest peak-to-trough decline	-34.14%	-38.03%	+3.89%
Max Drawdown (1Y) Largest decline over 1 year	-8.30%	-9.16%	+0.86%
Max Drawdown (3Y) Largest decline over 3 years	-20.92%	-26.37%	+5.45%
Max Drawdown (5Y) Largest decline over 5 years	-20.92%	-36.66%	+15.74%
Max Drawdown (10Y) Largest decline over 10 years	-34.14%	—	—
Current Drawdown Current decline from peak	-4.47%	-4.93%	+0.46%
Average Drawdown Average peak-to-trough decline	-3.89%	-7.34%	+3.45%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.61%	2.35%	+0.26%

Volatility

MLVHX vs. PAGDX - Volatility Comparison

The current volatility for MFS Low Volatility Equity Fund (MLVHX) is 2.72%, while Permanent Portfolio Aggressive Growth Fund Class A (PAGDX) has a volatility of 7.11%. This indicates that MLVHX experiences smaller price fluctuations and is considered to be less risky than PAGDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLVHX	PAGDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.72%	7.11%	-4.39%
Volatility (6M) Calculated over the trailing 6-month period	7.12%	13.64%	-6.52%
Volatility (1Y) Calculated over the trailing 1-year period	9.64%	17.96%	-8.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.24%	24.57%	-9.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.24%	24.97%	-8.73%

MLVHX vs. PAGDX - Expense Ratio Comparison

MLVHX has a 0.67% expense ratio, which is lower than PAGDX's 1.46% expense ratio.

Dividends

MLVHX vs. PAGDX - Dividend Comparison

MLVHX's dividend yield for the trailing twelve months is around 15.19%, more than PAGDX's 0.03% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLVHX MFS Low Volatility Equity Fund	15.19%	15.40%	13.51%	6.47%	13.00%	5.33%	1.25%	1.17%	4.99%	2.23%	1.19%	1.90%
PAGDX Permanent Portfolio Aggressive Growth Fund Class A	0.03%	0.03%	5.48%	2.59%	7.53%	6.80%	14.94%	16.97%	12.25%	8.50%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MLVHX and PAGDX in my portfolio?

MLVHX and PAGDX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MLVHX or PAGDX?

PAGDX has higher volatility (7.11%) compared to MLVHX (2.72%). In terms of maximum drawdown, MLVHX dropped -34.14% vs PAGDX's -38.03%.

Which has better risk-adjusted returns?

PAGDX currently has the higher Sharpe Ratio (1.96 vs 0.99), 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.