MOWIX vs. MWNIX

Last updated Jun 5, 2026

MOWIX (Moerus Worldwide Value Fund) and MWNIX (MFS International New Discovery Fund) are both Foreign Small & Mid Cap Equities funds. Over the past 5 years, MOWIX returned 17.81%/yr vs 2.67%/yr for MWNIX. A 0.70 correlation means they provide meaningful diversification when combined. MOWIX charges 1.40%/yr vs 1.03%/yr for MWNIX.

Performance

MOWIX vs. MWNIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Moerus Worldwide Value Fund (MOWIX) and MFS International New Discovery Fund (MWNIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MOWIX achieves a 8.57% return, which is significantly higher than MWNIX's 6.00% return.

MOWIX

• 1D: -1.75%
• 1M: -1.28%
• YTD: 8.57%
• 6M: 9.14%
• 1Y: 33.40%
• 3Y*: 27.49%
• 5Y*: 17.81%
• 10Y*: —

MWNIX

• 1D: -0.81%
• 1M: 1.25%
• YTD: 6.00%
• 6M: 6.37%
• 1Y: 9.70%
• 3Y*: 9.82%
• 5Y*: 2.67%
• 10Y*: 6.25%

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

MOWIX vs. MWNIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MOWIX Moerus Worldwide Value Fund	8.57%	40.23%	15.96%	24.97%	6.40%	18.28%	-10.06%	15.29%	-19.47%	18.59%
MWNIX MFS International New Discovery Fund	6.00%	16.88%	0.90%	13.03%	-18.63%	5.06%	9.98%	22.85%	-10.41%	30.58%

Correlation

The correlation between MOWIX and MWNIX is 0.73, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.73
Correlation (3Y) Calculated over the trailing 3-year period	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.70

The correlation between MOWIX and MWNIX has been stable across timeframes, ranging from 0.70 to 0.73 - a consistent structural relationship.

Return for Risk

MOWIX vs. MWNIX — Risk / Return Rank

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

MOWIX

MOWIX Risk / Return Rank: 54
MOWIX Sharpe Ratio Rank: 55
MOWIX Sortino Ratio Rank: 47
MOWIX Omega Ratio Rank: 49
MOWIX Calmar Ratio Rank: 67
MOWIX Martin Ratio Rank: 50

MWNIX

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

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.

MOWIX vs. MWNIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Moerus Worldwide Value Fund (MOWIX) and MFS International New Discovery Fund (MWNIX). 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.

	MOWIX	MWNIX	Difference
Sharpe ratio: Return per unit of total volatility	2.18	0.90	+1.28
Sortino ratio: Return per unit of downside risk	2.88	1.35	+1.53
Omega ratio: Gain probability vs. loss probability	1.38	1.17	+0.21
Calmar ratio: Return relative to maximum drawdown	3.15	0.88	+2.27
Martin ratio: Return relative to average drawdown	10.12	3.02	+7.10
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MOWIX vs. MWNIX - Sharpe Ratio Comparison

The current MOWIX Sharpe Ratio is 2.18, which is higher than the MWNIX Sharpe Ratio of 0.90. The chart below compares the historical Sharpe Ratios of MOWIX and MWNIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MOWIX	MWNIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	0.90	+1.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.08	0.20	+0.87
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.45	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.66	0.58	+0.08

Drawdowns

MOWIX vs. MWNIX - Drawdown Comparison

The maximum MOWIX drawdown since its inception was -53.13%, smaller than the maximum MWNIX drawdown of -58.38%. Use the drawdown chart below to compare losses from any high point for MOWIX and MWNIX.

Drawdown Indicators

	MOWIX	MWNIX	Difference
Max Drawdown Largest peak-to-trough decline	-53.13%	-58.38%	+5.25%
Max Drawdown (1Y) Largest decline over 1 year	-10.71%	-11.78%	+1.07%
Max Drawdown (3Y) Largest decline over 3 years	-14.54%	-15.12%	+0.58%
Max Drawdown (5Y) Largest decline over 5 years	-22.11%	-33.67%	+11.56%
Max Drawdown (10Y) Largest decline over 10 years	—	-34.72%	—
Current Drawdown Current decline from peak	-5.80%	-2.49%	-3.31%
Average Drawdown Average peak-to-trough decline	-10.40%	-9.57%	-0.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.32%	3.42%	-0.10%

Volatility

MOWIX vs. MWNIX - Volatility Comparison

Moerus Worldwide Value Fund (MOWIX) has a higher volatility of 4.43% compared to MFS International New Discovery Fund (MWNIX) at 3.60%. This indicates that MOWIX's price experiences larger fluctuations and is considered to be riskier than MWNIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MOWIX	MWNIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.43%	3.60%	+0.83%
Volatility (6M) Calculated over the trailing 6-month period	12.50%	9.51%	+2.99%
Volatility (1Y) Calculated over the trailing 1-year period	15.48%	11.52%	+3.96%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.61%	13.18%	+3.43%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.18%	13.99%	+3.19%

MOWIX vs. MWNIX - Expense Ratio Comparison

MOWIX has a 1.40% expense ratio, which is higher than MWNIX's 1.03% expense ratio.

Dividends

MOWIX vs. MWNIX - Dividend Comparison

MOWIX's dividend yield for the trailing twelve months is around 9.60%, more than MWNIX's 3.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MOWIX Moerus Worldwide Value Fund	9.60%	10.42%	4.65%	4.98%	0.55%	5.32%	0.72%	1.32%	1.93%	0.86%	0.00%	0.00%
MWNIX MFS International New Discovery Fund	3.05%	3.24%	7.61%	4.05%	5.68%	5.06%	3.90%	2.67%	6.68%	1.63%	1.09%	1.12%

Frequently Asked Questions

Can I hold both MOWIX and MWNIX in my portfolio?

MOWIX and MWNIX have a correlation of 0.73, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MOWIX or MWNIX?

MOWIX has higher volatility (4.43%) compared to MWNIX (3.60%). In terms of maximum drawdown, MOWIX dropped -53.13% vs MWNIX's -58.38%.

Which has better risk-adjusted returns?

MOWIX currently has the higher Sharpe Ratio (2.18 vs 0.90), 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.