MOGAX vs. AVEFX

Last updated Jun 4, 2026

MOGAX (MassMutual 60/40 Allocation Fund) and AVEFX (Ave Maria Bond Fund) are both Diversified Portfolio funds. A 0.72 correlation means they provide meaningful diversification when combined. MOGAX charges 0.61%/yr vs 0.41%/yr for AVEFX.

Performance

MOGAX vs. AVEFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MassMutual 60/40 Allocation Fund (MOGAX) and Ave Maria Bond Fund (AVEFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MOGAX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVEFX

• 1D: 0.08%
• 1M: -0.42%
• YTD: 1.45%
• 6M: 1.42%
• 1Y: 4.53%
• 3Y*: 5.73%
• 5Y*: 2.86%
• 10Y*: 3.86%

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

MOGAX vs. AVEFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MOGAX MassMutual 60/40 Allocation Fund	0.00%	10.54%	8.82%	14.26%	-22.35%	13.74%	12.03%	24.58%	-8.02%	14.54%
AVEFX Ave Maria Bond Fund	1.45%	5.63%	5.71%	5.16%	-2.84%	4.38%	5.60%	8.30%	0.41%	4.16%

Correlation

The correlation between MOGAX and AVEFX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.60
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jun 21, 2011	0.72

Over the past year, the correlation between MOGAX and AVEFX has dropped to 0.33 - well below their long-term average of 0.72, suggesting their price drivers have been diverging.

Return for Risk

MOGAX vs. AVEFX — Risk / Return Rank

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

AVEFX

AVEFX Risk / Return Rank: 29
AVEFX Sharpe Ratio Rank: 33
AVEFX Sortino Ratio Rank: 36
AVEFX Omega Ratio Rank: 32
AVEFX Calmar Ratio Rank: 25
AVEFX Martin Ratio Rank: 19

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.

MOGAX vs. AVEFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MassMutual 60/40 Allocation Fund (MOGAX) and Ave Maria Bond Fund (AVEFX). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MOGAX	AVEFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.64	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.70	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.97	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	1.10	—

Drawdowns

Drawdown Indicators

	MOGAX	AVEFX	Difference
Max Drawdown Largest peak-to-trough decline	—	-10.24%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-2.58%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-2.82%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-7.70%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-10.24%	—
Current Drawdown Current decline from peak	—	-2.11%	—
Average Drawdown Average peak-to-trough decline	—	-0.97%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.95%	—

Volatility

Volatility by Period

	MOGAX	AVEFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.83%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.26%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	2.93%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	4.13%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	4.02%	—

MOGAX vs. AVEFX - Expense Ratio Comparison

MOGAX has a 0.61% expense ratio, which is higher than AVEFX's 0.41% expense ratio.

Dividends

MOGAX vs. AVEFX - Dividend Comparison

MOGAX's dividend yield for the trailing twelve months is around 3.65%, more than AVEFX's 3.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AVEFX Ave Maria Bond Fund	3.47%	3.51%	2.94%	2.47%	3.59%	2.32%	2.43%	3.31%	3.21%	2.04%	2.94%	1.89%
MOGAX MassMutual 60/40 Allocation Fund	3.65%	3.65%	6.23%	3.93%	1.84%	13.14%	3.65%	13.70%	15.46%	1.02%	1.55%	3.52%

Frequently Asked Questions

Can I hold both MOGAX and AVEFX in my portfolio?

MOGAX and AVEFX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.