MMGEX vs. ETEGX

Last updated Jun 24, 2026

MMGEX (MassMutual Small Cap Growth Equity Fund) and ETEGX (Eaton Vance Small-Cap Fund) are both Small Cap Growth Equities funds. Over the past 10 years, MMGEX returned 16.34%/yr vs 9.03%/yr for ETEGX. Their correlation of 0.91 suggests significant overlap in exposure. MMGEX charges 1.41%/yr vs 1.21%/yr for ETEGX.

Performance

MMGEX vs. ETEGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MassMutual Small Cap Growth Equity Fund (MMGEX) and Eaton Vance Small-Cap Fund (ETEGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MMGEX achieves a 28.07% return, which is significantly higher than ETEGX's 5.54% return. Over the past 10 years, MMGEX has outperformed ETEGX with an annualized return of 16.34%, while ETEGX has yielded a comparatively lower 9.03% annualized return.

MMGEX

• 1D: 1.39%
• 1M: 7.23%
• YTD: 28.07%
• 6M: 24.87%
• 1Y: 45.52%
• 3Y*: 21.26%
• 5Y*: 7.12%
• 10Y*: 16.34%

ETEGX

• 1D: -0.28%
• 1M: 4.06%
• YTD: 5.54%
• 6M: 3.22%
• 1Y: 2.32%
• 3Y*: 6.37%
• 5Y*: 2.69%
• 10Y*: 9.03%

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

MMGEX vs. ETEGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MMGEX MassMutual Small Cap Growth Equity Fund	28.07%	10.66%	14.79%	16.35%	-26.21%	8.52%	40.08%	61.40%	-5.46%	24.28%
ETEGX Eaton Vance Small-Cap Fund	5.54%	-6.20%	14.65%	11.28%	-15.52%	21.45%	12.73%	27.57%	-6.00%	14.87%

Correlation

The correlation between MMGEX and ETEGX is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Apr 30, 1999	0.91

The correlation between MMGEX and ETEGX shifts across timeframes, from 0.75 (1 year) to 0.91 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MMGEX vs. ETEGX — Risk / Return Rank

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

MMGEX

MMGEX Risk / Return Rank: 76
MMGEX Sharpe Ratio Rank: 74
MMGEX Sortino Ratio Rank: 66
MMGEX Omega Ratio Rank: 58
MMGEX Calmar Ratio Rank: 91
MMGEX Martin Ratio Rank: 93

ETEGX

ETEGX Risk / Return Rank: 4
ETEGX Sharpe Ratio Rank: 4
ETEGX Sortino Ratio Rank: 5
ETEGX Omega Ratio Rank: 4
ETEGX Calmar Ratio Rank: 5
ETEGX Martin Ratio Rank: 4

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.

MMGEX vs. ETEGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MassMutual Small Cap Growth Equity Fund (MMGEX) and Eaton Vance Small-Cap Fund (ETEGX). 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.

	MMGEX	ETEGX	Difference
Sharpe ratio: Return per unit of total volatility	2.30	0.24	+2.06
Sortino ratio: Return per unit of downside risk	3.09	0.49	+2.61
Omega ratio: Gain probability vs. loss probability	1.39	1.05	+0.34
Calmar ratio: Return relative to maximum drawdown	4.53	0.30	+4.23
Martin ratio: Return relative to average drawdown	18.33	0.67	+17.66

MMGEX vs. ETEGX - Sharpe Ratio Comparison

The current MMGEX Sharpe Ratio is 2.30, which is higher than the ETEGX Sharpe Ratio of 0.24. The chart below compares the historical Sharpe Ratios of MMGEX and ETEGX, 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

MMGEX vs. ETEGX - Drawdown Comparison

The maximum MMGEX drawdown since its inception was -63.65%, smaller than the maximum ETEGX drawdown of -67.58%. Use the drawdown chart below to compare losses from any high point for MMGEX and ETEGX.

Drawdown Indicators

	MMGEX	ETEGX	Difference
Max Drawdown Largest peak-to-trough decline	-63.65%	-67.58%	+3.93%
Max Drawdown (1Y) Largest decline over 1 year	-10.47%	-13.05%	+2.58%
Max Drawdown (3Y) Largest decline over 3 years	-27.79%	-19.98%	-7.81%
Max Drawdown (5Y) Largest decline over 5 years	-51.21%	-24.30%	-26.91%
Max Drawdown (10Y) Largest decline over 10 years	-51.21%	-36.66%	-14.55%
Current Drawdown Current decline from peak	0.00%	-6.81%	+6.81%
Average Drawdown Average peak-to-trough decline	-23.39%	-22.74%	-0.65%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	5.89%	-3.31%

Volatility

MMGEX vs. ETEGX - Volatility Comparison

MassMutual Small Cap Growth Equity Fund (MMGEX) has a higher volatility of 7.05% compared to Eaton Vance Small-Cap Fund (ETEGX) at 4.54%. This indicates that MMGEX's price experiences larger fluctuations and is considered to be riskier than ETEGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MMGEX	ETEGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.05%	4.54%	+2.51%
Volatility (6M) Calculated over the trailing 6-month period	16.15%	11.40%	+4.75%
Volatility (1Y) Calculated over the trailing 1-year period	20.61%	16.28%	+4.33%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.53%	18.79%	+13.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.06%	19.87%	+9.19%

MMGEX vs. ETEGX - Expense Ratio Comparison

MMGEX has a 1.41% expense ratio, which is higher than ETEGX's 1.21% expense ratio.

Dividends

MMGEX vs. ETEGX - Dividend Comparison

MMGEX's dividend yield for the trailing twelve months is around 29.62%, more than ETEGX's 7.80% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
ETEGX Eaton Vance Small-Cap Fund	7.80%	8.23%	5.13%	0.68%	3.22%	13.87%	1.06%	7.19%	12.29%	11.02%	13.88%	23.25%
MMGEX MassMutual Small Cap Growth Equity Fund	29.62%	37.94%	8.94%	0.00%	0.00%	44.40%	10.36%	32.83%	29.40%	6.91%	0.00%	33.83%

Frequently Asked Questions

Can I hold both MMGEX and ETEGX in my portfolio?

MMGEX and ETEGX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MMGEX or ETEGX?

MMGEX has higher volatility (7.05%) compared to ETEGX (4.54%). In terms of maximum drawdown, MMGEX dropped -63.65% vs ETEGX's -67.58%.

Which has better risk-adjusted returns?

MMGEX currently has the higher Sharpe Ratio (2.30 vs 0.24), 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.