MOSAX vs. MGFAX

Last updated Aug 1, 2026

MOSAX (MassMutual Overseas Fund) and MGFAX (MassMutual Global Fund) are both mutual funds - MOSAX is a Foreign Large Cap Equities fund managed by MassMutual, while MGFAX is a Global Equities fund managed by MassMutual. Over the past 10 years, MOSAX returned 8.81%/yr vs 11.14%/yr for MGFAX. Their correlation of 0.87 means they have usually moved in the same direction. MOSAX charges 1.34%/yr vs 1.41%/yr for MGFAX.

Performance

MOSAX vs. MGFAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MassMutual Overseas Fund (MOSAX) and MassMutual Global Fund (MGFAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MOSAX achieves a 7.72% return, which is significantly higher than MGFAX's 1.52% return. Over the past 10 years, MOSAX has underperformed MGFAX with an annualized return of 8.81%, while MGFAX has yielded a comparatively higher 11.14% annualized return.

MOSAX

• 1D: 1.77%
• 1M: 3.60%
• 6M: 5.86%
• YTD: 7.72%
• 1Y: 17.42%
• 3Y*: 10.64%
• 5Y*: 6.73%
• 10Y*: 8.81%
• ALL TIME*: 5.52%

MGFAX

• 1D: 0.55%
• 1M: -4.53%
• 6M: 1.24%
• YTD: 1.52%
• 1Y: 9.83%
• 3Y*: 11.88%
• 5Y*: 4.84%
• 10Y*: 11.14%
• ALL TIME*: 7.44%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MGFAX MassMutual Global Fund	$0.00	$0.00	$0.00
MOSAX MassMutual Overseas Fund	$0.00	$0.00	$0.00

MOSAX vs. MGFAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MOSAX MassMutual Overseas Fund	7.72%	25.48%	0.12%	18.26%	-15.35%	12.61%	8.51%	28.26%	-16.78%	26.44%
MGFAX MassMutual Global Fund	1.52%	14.37%	15.01%	33.87%	-32.08%	19.60%	27.18%	30.67%	-14.19%	35.30%

Correlation

The correlation between MOSAX and MGFAX is 0.70, 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.	0.70
Correlation (3Y) Balances recent behavior with more history.	0.71
Correlation (5Y) Shows whether the relationship held over a longer period.	0.76
Correlation (10Y) Provides a long-term view across more market conditions.	0.79
Correlation (All Time) Calculated using the full available price history since Dec 31, 2004	0.87

The correlation between MOSAX and MGFAX shifts across timeframes, from 0.70 (1 year) to 0.87 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MOSAX vs. MGFAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MOSAX

MOSAX Risk / Return Rank: 32
MOSAX Sharpe Ratio Rank: 33
MOSAX Sortino Ratio Rank: 34
MOSAX Omega Ratio Rank: 32
MOSAX Calmar Ratio Rank: 29
MOSAX Martin Ratio Rank: 30

MGFAX

MGFAX Risk / Return Rank: 11
MGFAX Sharpe Ratio Rank: 11
MGFAX Sortino Ratio Rank: 11
MGFAX Omega Ratio Rank: 11
MGFAX Calmar Ratio Rank: 10
MGFAX Martin Ratio Rank: 12

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MOSAX vs. MGFAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MassMutual Overseas Fund (MOSAX) and MassMutual Global Fund (MGFAX). 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.

	MOSAX	MGFAX	Difference
Sharpe ratio: Return per unit of total volatility	1.10	0.42	+0.67
Sortino ratio: Return per unit of downside risk	1.61	0.70	+0.91
Omega ratio: Gain probability vs. loss probability	1.20	1.09	+0.11
Calmar ratio: Return relative to maximum drawdown	1.31	0.47	+0.84
Martin ratio: Return relative to average drawdown	4.58	1.63	+2.95

MOSAX vs. MGFAX - Sharpe Ratio Comparison

The current MOSAX Sharpe Ratio is 1.10, which is higher than the MGFAX Sharpe Ratio of 0.42. The chart below compares the historical Sharpe Ratios of MOSAX and MGFAX, 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

MOSAX vs. MGFAX - Drawdown Comparison

The maximum MOSAX drawdown since its inception was -58.43%, smaller than the maximum MGFAX drawdown of -62.06%. Use the drawdown chart below to compare losses from any high point for MOSAX and MGFAX.

Drawdown Indicators

	MOSAX	MGFAX	Difference
Max Drawdown Largest peak-to-trough decline	-58.43%	-62.06%	+3.63%
Max Drawdown (1Y) Largest decline over 1 year	-11.74%	-16.38%	+4.64%
Max Drawdown (3Y) Largest decline over 3 years	-14.33%	-23.61%	+9.28%
Max Drawdown (5Y) Largest decline over 5 years	-33.69%	-46.09%	+12.40%
Max Drawdown (10Y) Largest decline over 10 years	-36.75%	-46.09%	+9.34%
Current Drawdown Current decline from peak	0.00%	-7.99%	+7.99%
Average Drawdown Average peak-to-trough decline	-11.55%	-13.52%	+1.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.36%	4.75%	-1.39%

Volatility

MOSAX vs. MGFAX - Volatility Comparison

The current volatility for MassMutual Overseas Fund (MOSAX) is 4.02%, while MassMutual Global Fund (MGFAX) has a volatility of 5.16%. This indicates that MOSAX experiences smaller price fluctuations and is considered to be less risky than MGFAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MOSAX	MGFAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.02%	5.16%	-1.14%
Volatility (6M) Calculated over the trailing 6-month period	11.68%	15.50%	-3.82%
Volatility (1Y) Calculated over the trailing 1-year period	14.09%	18.32%	-4.23%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.70%	33.72%	-16.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.88%	27.58%	-9.70%

MOSAX vs. MGFAX - Expense Ratio Comparison

MOSAX has a 1.34% expense ratio, which is lower than MGFAX's 1.41% expense ratio.

Dividends

MOSAX vs. MGFAX - Dividend Comparison

MOSAX's dividend yield for the trailing twelve months is around 16.90%, less than MGFAX's 43.01% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MGFAX MassMutual Global Fund	43.01%	43.66%	16.85%	30.43%	28.11%	15.89%	5.05%	0.36%	27.78%	12.10%	3.75%	8.25%
MOSAX MassMutual Overseas Fund	16.90%	18.21%	6.02%	2.24%	9.26%	9.64%	1.78%	5.10%	12.16%	1.42%	1.71%	3.12%

Frequently Asked Questions

Can I hold both MOSAX and MGFAX in my portfolio?

MOSAX and MGFAX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MOSAX or MGFAX?

MGFAX has higher volatility (5.16%) compared to MOSAX (4.02%). In terms of maximum drawdown, MOSAX dropped -58.43% vs MGFAX's -62.06%.

Which has better risk-adjusted returns?

MOSAX currently has the higher Sharpe Ratio (1.10 vs 0.42), 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.