MMGEX vs. MSTDX

Last updated Jun 24, 2026

MMGEX (MassMutual Small Cap Growth Equity Fund) and MSTDX (MassMutual Short Duration Bond Fund) are both mutual funds - MMGEX is a Small Cap Growth Equities fund managed by MassMutual, while MSTDX is a Short-Term Bond fund managed by MassMutual. Over the past 10 years, MMGEX returned 16.34%/yr vs 2.02%/yr for MSTDX. At a correlation of -0.08, they often move in opposite directions. MMGEX charges 1.41%/yr vs 0.51%/yr for MSTDX.

Performance

MMGEX vs. MSTDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MassMutual Small Cap Growth Equity Fund (MMGEX) and MassMutual Short Duration Bond Fund (MSTDX). 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 MSTDX's 0.63% return. Over the past 10 years, MMGEX has outperformed MSTDX with an annualized return of 16.34%, while MSTDX has yielded a comparatively lower 2.02% 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%

MSTDX

• 1D: -0.11%
• 1M: 0.22%
• YTD: 0.63%
• 6M: 1.24%
• 1Y: 3.95%
• 3Y*: 5.62%
• 5Y*: 1.27%
• 10Y*: 2.02%

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

MMGEX vs. MSTDX - 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%
MSTDX MassMutual Short Duration Bond Fund	0.63%	6.18%	6.38%	5.88%	-11.19%	1.79%	2.29%	4.49%	1.68%	2.61%

Correlation

The correlation between MMGEX and MSTDX is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.15
Correlation (5Y) Calculated over the trailing 5-year period	0.17
Correlation (10Y) Calculated over the trailing 10-year period	0.11
Correlation (All Time) Calculated using the full available price history since Apr 30, 1999	-0.08

The correlation between MMGEX and MSTDX shifts across timeframes, from -0.08 (all time) to 0.17 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MMGEX vs. MSTDX — 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

MSTDX

MSTDX Risk / Return Rank: 84
MSTDX Sharpe Ratio Rank: 69
MSTDX Sortino Ratio Rank: 90
MSTDX Omega Ratio Rank: 88
MSTDX Calmar Ratio Rank: 85
MSTDX Martin Ratio Rank: 89

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. MSTDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MassMutual Small Cap Growth Equity Fund (MMGEX) and MassMutual Short Duration Bond Fund (MSTDX). 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	MSTDX	Difference
Sharpe ratio: Return per unit of total volatility	2.30	2.22	+0.08
Sortino ratio: Return per unit of downside risk	3.09	4.12	-1.03
Omega ratio: Gain probability vs. loss probability	1.39	1.58	-0.19
Calmar ratio: Return relative to maximum drawdown	4.53	3.84	+0.69
Martin ratio: Return relative to average drawdown	18.33	15.91	+2.42

MMGEX vs. MSTDX - Sharpe Ratio Comparison

The current MMGEX Sharpe Ratio is 2.30, which is comparable to the MSTDX Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of MMGEX and MSTDX, 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. MSTDX - Drawdown Comparison

The maximum MMGEX drawdown since its inception was -63.65%, which is greater than MSTDX's maximum drawdown of -13.31%. Use the drawdown chart below to compare losses from any high point for MMGEX and MSTDX.

Drawdown Indicators

	MMGEX	MSTDX	Difference
Max Drawdown Largest peak-to-trough decline	-63.65%	-13.31%	-50.34%
Max Drawdown (1Y) Largest decline over 1 year	-10.47%	-1.06%	-9.41%
Max Drawdown (3Y) Largest decline over 3 years	-27.79%	-1.06%	-26.73%
Max Drawdown (5Y) Largest decline over 5 years	-51.21%	-13.31%	-37.90%
Max Drawdown (10Y) Largest decline over 10 years	-51.21%	-13.31%	-37.90%
Current Drawdown Current decline from peak	0.00%	-0.32%	+0.32%
Average Drawdown Average peak-to-trough decline	-23.39%	-1.42%	-21.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	0.26%	+2.32%

Volatility

MMGEX vs. MSTDX - Volatility Comparison

MassMutual Small Cap Growth Equity Fund (MMGEX) has a higher volatility of 7.05% compared to MassMutual Short Duration Bond Fund (MSTDX) at 0.64%. This indicates that MMGEX's price experiences larger fluctuations and is considered to be riskier than MSTDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MMGEX	MSTDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.05%	0.64%	+6.41%
Volatility (6M) Calculated over the trailing 6-month period	16.15%	1.40%	+14.75%
Volatility (1Y) Calculated over the trailing 1-year period	20.61%	1.84%	+18.77%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	32.53%	2.34%	+30.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	29.06%	2.06%	+27.00%

MMGEX vs. MSTDX - Expense Ratio Comparison

MMGEX has a 1.41% expense ratio, which is higher than MSTDX's 0.51% expense ratio.

Dividends

MMGEX vs. MSTDX - Dividend Comparison

MMGEX's dividend yield for the trailing twelve months is around 29.62%, more than MSTDX's 4.45% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
MSTDX MassMutual Short Duration Bond Fund	4.45%	4.36%	2.63%	2.48%	1.46%	1.90%	4.44%	3.35%	3.82%	2.51%	2.36%	2.57%

Frequently Asked Questions

Can I hold both MMGEX and MSTDX in my portfolio?

MMGEX and MSTDX have a correlation of 0.16, 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 MSTDX?

MMGEX has higher volatility (7.05%) compared to MSTDX (0.64%). In terms of maximum drawdown, MMGEX dropped -63.65% vs MSTDX's -13.31%.

Which has better risk-adjusted returns?

MMGEX currently has the higher Sharpe Ratio (2.30 vs 2.22), 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.