MMIBX vs. DODIX
MMIBX (MFS Municipal Income Fund) and DODIX (Dodge & Cox Income Fund) are both mutual funds - MMIBX is a Municipal Bonds fund managed by MFS, while DODIX is a Intermediate Core-Plus Bond fund actively managed by Dodge & Cox. Over the past 10 years, MMIBX returned 1.28%/yr vs 2.63%/yr for DODIX. Their 0.51 correlation means they have sometimes moved together and sometimes differently. MMIBX charges 1.45%/yr vs 0.41%/yr for DODIX.
Performance
MMIBX vs. DODIX - Performance Comparison
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Returns By Period
In the year-to-date period, MMIBX achieves a 0.39% return, which is significantly higher than DODIX's -0.46% return. Over the past 10 years, MMIBX has underperformed DODIX with an annualized return of 1.28%, while DODIX has yielded a comparatively higher 2.63% annualized return.
MMIBX
- 1D
- -0.25%
- 1M
- -1.94%
- 6M
- -0.11%
- YTD
- 0.39%
- 1Y
- 4.98%
- 3Y*
- 3.02%
- 5Y*
- -0.45%
- 10Y*
- 1.28%
- ALL TIME*
- 2.94%
DODIX
- 1D
- 0.00%
- 1M
- -1.18%
- 6M
- -0.77%
- YTD
- -0.46%
- 1Y
- 2.62%
- 3Y*
- 4.70%
- 5Y*
- 0.78%
- 10Y*
- 2.63%
- ALL TIME*
- 5.83%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MMIBX vs. DODIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MMIBX MFS Municipal Income Fund | 0.39% | 3.56% | 2.42% | 5.45% | -12.27% | 2.35% | 3.28% | 7.40% | 0.38% | 5.00% |
DODIX Dodge & Cox Income Fund | -0.46% | 8.32% | 2.25% | 7.69% | -11.42% | -0.92% | 9.46% | 9.73% | -0.31% | 4.36% |
Correlation
The correlation between MMIBX and DODIX is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.55 |
Correlation (3Y) Balances recent behavior with more history. | 0.63 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.58 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.51 |
Correlation (All Time) Calculated using the full available price history since Dec 30, 1988 | 0.51 |
The correlation between MMIBX and DODIX shifts across timeframes, from 0.51 (all time) to 0.63 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MMIBX vs. DODIX — Risk / Return Rank
MMIBX
DODIX
MMIBX vs. DODIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS Municipal Income Fund (MMIBX) and Dodge & Cox Income Fund (DODIX). 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.
| MMIBX | DODIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.07 | ||
| Sortino ratioReturn per unit of downside risk | +1.67 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.15 | +0.31 |
| Calmar ratioReturn relative to maximum drawdown | 2.02 | 1.11 | +0.91 |
| Martin ratioReturn relative to average drawdown | 6.80 | 2.77 | +4.04 |
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Drawdowns
MMIBX vs. DODIX - Drawdown Comparison
The maximum MMIBX drawdown since its inception was -17.40%, roughly equal to the maximum DODIX drawdown of -16.89%. Use the drawdown chart below to compare losses from any high point for MMIBX and DODIX.
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Drawdown Indicators
| MMIBX | DODIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.40% | -16.89% | -0.51% |
Max Drawdown (1Y)Largest decline over 1 year | -3.01% | -3.17% | +0.16% |
Max Drawdown (3Y)Largest decline over 3 years | -6.27% | -5.29% | -0.98% |
Max Drawdown (5Y)Largest decline over 5 years | -17.19% | -16.89% | -0.30% |
Max Drawdown (10Y)Largest decline over 10 years | -17.19% | -16.89% | -0.30% |
Current DrawdownCurrent decline from peak | -2.21% | -2.58% | +0.37% |
Average DrawdownAverage peak-to-trough decline | -2.80% | -1.50% | -1.30% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.89% | 1.27% | -0.38% |
Volatility
MMIBX vs. DODIX - Volatility Comparison
The current volatility for MFS Municipal Income Fund (MMIBX) is 0.98%, while Dodge & Cox Income Fund (DODIX) has a volatility of 1.10%. This indicates that MMIBX experiences smaller price fluctuations and is considered to be less risky than DODIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MMIBX | DODIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.98% | 1.10% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 2.51% | 3.20% | -0.69% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.14% | 4.08% | -0.94% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.43% | 5.59% | -1.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.35% | 4.47% | -0.12% |
MMIBX vs. DODIX - Expense Ratio Comparison
MMIBX has a 1.45% expense ratio, which is higher than DODIX's 0.41% expense ratio.
Dividends
MMIBX vs. DODIX - Dividend Comparison
MMIBX's dividend yield for the trailing twelve months is around 2.76%, less than DODIX's 4.35% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
DODIX Dodge & Cox Income Fund | 4.35% | 4.23% | 4.24% | 3.86% | 2.19% | 3.23% | 4.66% | 3.63% | 3.43% | 3.03% | 3.25% | 3.09% |
MMIBX MFS Municipal Income Fund | 2.76% | 3.81% | 2.51% | 2.05% | 1.42% | 1.45% | 1.86% | 2.45% | 2.68% | 2.67% | 2.87% | 2.98% |
Frequently Asked Questions
MMIBX and DODIX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
DODIX has higher volatility (1.10%) compared to MMIBX (0.98%). In terms of maximum drawdown, MMIBX dropped -17.40% vs DODIX's -16.89%.
MMIBX currently has the higher Sharpe Ratio (1.94 vs 0.87), 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.
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