MNWIX vs. SAOAX

Last updated Apr 1, 2026

Compare and contrast key facts about MFS Managed Wealth Fund (MNWIX) and Guggenheim Alpha Opportunity Fund (SAOAX).

MNWIX is managed by BlackRock. It was launched on Jun 26, 2014. SAOAX is managed by Guggenheim. It was launched on Jul 6, 2003.

Performance

MNWIX vs. SAOAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Managed Wealth Fund (MNWIX) and Guggenheim Alpha Opportunity Fund (SAOAX). The values are adjusted to include any dividend payments, if applicable.

MNWIX vs. SAOAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MNWIX MFS Managed Wealth Fund	-4.50%	7.71%	6.42%	5.41%	-2.15%	1.35%	3.11%	8.70%	2.10%	6.70%
SAOAX Guggenheim Alpha Opportunity Fund	10.14%	-2.00%	10.49%	8.81%	-8.66%	14.38%	0.17%	-2.26%	-11.25%	7.48%

Returns By Period

In the year-to-date period, MNWIX achieves a -4.50% return, which is significantly lower than SAOAX's 10.14% return. Over the past 10 years, MNWIX has outperformed SAOAX with an annualized return of 3.33%, while SAOAX has yielded a comparatively lower 2.89% annualized return.

MNWIX

• 1D: 0.08%
• 1M: -4.58%
• YTD: -4.50%
• 6M: -4.07%
• 1Y: 0.76%
• 3Y*: 4.67%
• 5Y*: 3.04%
• 10Y*: 3.33%

SAOAX

• 1D: -0.44%
• 1M: 0.00%
• YTD: 10.14%
• 6M: 11.36%
• 1Y: 4.23%
• 3Y*: 7.96%
• 5Y*: 4.58%
• 10Y*: 2.89%

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

MNWIX vs. SAOAX - Expense Ratio Comparison

MNWIX has a 0.67% expense ratio, which is lower than SAOAX's 1.76% expense ratio.

SAOAX

Guggenheim Alpha Opportunity Fund

MNWIX

MFS Managed Wealth Fund

Return for Risk

MNWIX vs. SAOAX — Risk / Return Rank

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

MNWIX

MNWIX Risk / Return Rank: 7
MNWIX Sharpe Ratio Rank: 7
MNWIX Sortino Ratio Rank: 6
MNWIX Omega Ratio Rank: 6
MNWIX Calmar Ratio Rank: 8
MNWIX Martin Ratio Rank: 8

SAOAX

SAOAX Risk / Return Rank: 23
SAOAX Sharpe Ratio Rank: 6
SAOAX Sortino Ratio Rank: 14
SAOAX Omega Ratio Rank: 74
SAOAX Calmar Ratio Rank: 9
SAOAX Martin Ratio Rank: 10

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.

MNWIX vs. SAOAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Managed Wealth Fund (MNWIX) and Guggenheim Alpha Opportunity Fund (SAOAX). 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.

	MNWIX	SAOAX	Difference
Sharpe ratio Return per unit of total volatility	0.12	0.10	+0.02
Sortino ratio Return per unit of downside risk	0.20	0.66	-0.46
Omega ratio Gain probability vs. loss probability	1.03	1.28	-0.25
Calmar ratio Return relative to maximum drawdown	0.08	0.15	-0.07
Martin ratio Return relative to average drawdown	0.33	0.73	-0.40
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MNWIX vs. SAOAX - Sharpe Ratio Comparison

The current MNWIX Sharpe Ratio is 0.12, which is comparable to the SAOAX Sharpe Ratio of 0.10. The chart below compares the historical Sharpe Ratios of MNWIX and SAOAX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MNWIX	SAOAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.12	0.10	+0.02
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.81	0.16	+0.65
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.89	0.14	+0.76
Sharpe Ratio (All Time) Calculated using the full available price history	0.76	0.30	+0.47

Correlation

The correlation between MNWIX and SAOAX is 0.27, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

MNWIX vs. SAOAX - Dividend Comparison

MNWIX's dividend yield for the trailing twelve months is around 0.79%, more than SAOAX's 0.65% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MNWIX MFS Managed Wealth Fund	0.79%	0.76%	1.13%	0.78%	0.70%	0.13%	0.24%	0.54%	0.42%	0.94%	2.65%	1.19%
SAOAX Guggenheim Alpha Opportunity Fund	0.65%	0.71%	1.06%	0.62%	0.72%	0.82%	1.22%	0.92%	1.17%	7.07%	0.03%	0.00%

Drawdowns

MNWIX vs. SAOAX - Drawdown Comparison

The maximum MNWIX drawdown since its inception was -5.57%, smaller than the maximum SAOAX drawdown of -52.28%. Use the drawdown chart below to compare losses from any high point for MNWIX and SAOAX.

Drawdown Indicators

	MNWIX	SAOAX	Difference
Max Drawdown Largest peak-to-trough decline	-5.57%	-52.28%	+46.71%
Max Drawdown (1Y) Largest decline over 1 year	-5.57%	-35.08%	+29.51%
Max Drawdown (5Y) Largest decline over 5 years	-5.57%	-35.90%	+30.33%
Max Drawdown (10Y) Largest decline over 10 years	-5.57%	-35.90%	+30.33%
Current Drawdown Current decline from peak	-5.50%	-0.47%	-5.03%
Average Drawdown Average peak-to-trough decline	-1.13%	-8.77%	+7.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.32%	6.97%	-5.65%

Volatility

MNWIX vs. SAOAX - Volatility Comparison

The current volatility for MFS Managed Wealth Fund (MNWIX) is 1.95%, while Guggenheim Alpha Opportunity Fund (SAOAX) has a volatility of 2.82%. This indicates that MNWIX experiences smaller price fluctuations and is considered to be less risky than SAOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MNWIX	SAOAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.95%	2.82%	-0.87%
Volatility (6M) Calculated over the trailing 6-month period	4.10%	6.04%	-1.94%
Volatility (1Y) Calculated over the trailing 1-year period	5.68%	61.36%	-55.68%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.79%	28.68%	-24.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.74%	21.13%	-17.39%