MPHQX vs. MCFIX
MPHQX (BlackRock Total Return Fund Class K) and MCFIX (Mercer Core Fixed Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, MPHQX returned -0.13%/yr vs -0.73%/yr for MCFIX. Their correlation of 0.88 means they have usually moved in the same direction. MPHQX charges 0.37%/yr vs 0.16%/yr for MCFIX.
Performance
MPHQX vs. MCFIX - Performance Comparison
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Returns By Period
In the year-to-date period, MPHQX achieves a -0.40% return, which is significantly higher than MCFIX's -2.44% return.
MPHQX
- 1D
- 0.00%
- 1M
- -1.51%
- 6M
- -0.86%
- YTD
- -0.40%
- 1Y
- 2.63%
- 3Y*
- 4.17%
- 5Y*
- -0.13%
- 10Y*
- 1.88%
- ALL TIME*
- 2.57%
MCFIX
- 1D
- 0.00%
- 1M
- -1.25%
- 6M
- -2.33%
- YTD
- -2.44%
- 1Y
- 0.03%
- 3Y*
- 3.26%
- 5Y*
- -0.73%
- 10Y*
- —
- ALL TIME*
- 0.60%
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 |
MPHQX vs. MCFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
MPHQX BlackRock Total Return Fund Class K | -0.40% | 8.21% | 1.92% | 6.04% | -14.14% | -0.68% | 9.10% | 6.46% |
MCFIX Mercer Core Fixed Income Fund | -2.44% | 6.64% | 2.02% | 6.47% | -13.69% | -1.05% | 4.75% | 3.31% |
Correlation
The correlation between MPHQX and MCFIX is 0.82, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.82 |
Correlation (3Y) Balances recent behavior with more history. | 0.85 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Apr 12, 2019 | 0.88 |
The correlation between MPHQX and MCFIX has been stable across timeframes, ranging from 0.82 to 0.90 - a consistent structural relationship.
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Return for Risk
MPHQX vs. MCFIX — Risk / Return Rank
MPHQX
MCFIX
MPHQX vs. MCFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for BlackRock Total Return Fund Class K (MPHQX) and Mercer Core Fixed Income Fund (MCFIX). 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.
| MPHQX | MCFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.84 | ||
| Sortino ratioReturn per unit of downside risk | +1.14 | ||
| Omega ratioGain probability vs. loss probability | 1.16 | 1.00 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 0.91 | 0.01 | +0.90 |
| Martin ratioReturn relative to average drawdown | 2.06 | 0.02 | +2.04 |
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Drawdowns
MPHQX vs. MCFIX - Drawdown Comparison
The maximum MPHQX drawdown since its inception was -21.68%, roughly equal to the maximum MCFIX drawdown of -21.68%. Use the drawdown chart below to compare losses from any high point for MPHQX and MCFIX.
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Drawdown Indicators
| MPHQX | MCFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -21.68% | -21.68% | 0.00% |
Max Drawdown (1Y)Largest decline over 1 year | -4.28% | -4.08% | -0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -5.79% | -5.27% | -0.52% |
Max Drawdown (5Y)Largest decline over 5 years | -19.28% | -18.72% | -0.56% |
Max Drawdown (10Y)Largest decline over 10 years | -19.28% | — | — |
Current DrawdownCurrent decline from peak | -3.51% | -7.35% | +3.84% |
Average DrawdownAverage peak-to-trough decline | -3.79% | -8.49% | +4.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.89% | 1.72% | +0.17% |
Volatility
MPHQX vs. MCFIX - Volatility Comparison
BlackRock Total Return Fund Class K (MPHQX) and Mercer Core Fixed Income Fund (MCFIX) have volatilities of 1.00% and 1.03%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MPHQX | MCFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.00% | 1.03% | -0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 3.69% | 2.93% | +0.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.60% | 4.01% | +0.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.30% | 6.05% | +0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.15% | 6.07% | -0.92% |
MPHQX vs. MCFIX - Expense Ratio Comparison
MPHQX has a 0.37% expense ratio, which is higher than MCFIX's 0.16% expense ratio.
Dividends
MPHQX vs. MCFIX - Dividend Comparison
MPHQX's dividend yield for the trailing twelve months is around 4.42%, more than MCFIX's 4.37% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MCFIX Mercer Core Fixed Income Fund | 4.37% | 3.89% | 4.54% | 3.68% | 3.31% | 2.45% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MPHQX BlackRock Total Return Fund Class K | 4.42% | 4.89% | 5.01% | 4.19% | 3.09% | 2.58% | 6.30% | 3.24% | 3.40% | 3.21% | 2.89% | 3.49% |
Frequently Asked Questions
MPHQX and MCFIX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MCFIX has higher volatility (1.03%) compared to MPHQX (1.00%). In terms of maximum drawdown, MPHQX dropped -21.68% vs MCFIX's -21.68%.
MPHQX currently has the higher Sharpe Ratio (0.85 vs 0.01), 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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