MPSAX vs. MOGAX

Last updated Jun 23, 2026

MPSAX (MassMutual Inflation-Protected and Income Fund) and MOGAX (MassMutual 60/40 Allocation Fund) are both mutual funds - MPSAX is a Inflation-Protected Bonds fund managed by MassMutual, while MOGAX is a Diversified Portfolio fund managed by MassMutual. At a 0.02 correlation, their price movements are largely independent. MPSAX charges 1.02%/yr vs 0.61%/yr for MOGAX.

Performance

MPSAX vs. MOGAX - Performance Comparison

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

Returns By Period

MPSAX

• 1D: 0.11%
• 1M: 0.32%
• YTD: 0.82%
• 6M: 1.21%
• 1Y: 2.77%
• 3Y*: 2.93%
• 5Y*: 2.72%
• 10Y*: 3.37%

MOGAX

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

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

MPSAX vs. MOGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MPSAX MassMutual Inflation-Protected and Income Fund	0.82%	5.50%	-0.02%	4.93%	-13.72%	20.31%	10.79%	7.67%	-1.86%	2.86%
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%

Correlation

The correlation between MPSAX and MOGAX is 0.15, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.15
Correlation (3Y) Calculated over the trailing 3-year period	0.40
Correlation (5Y) Calculated over the trailing 5-year period	0.31
Correlation (10Y) Calculated over the trailing 10-year period	0.16
Correlation (All Time) Calculated using the full available price history since Jun 20, 2011	0.02

The correlation between MPSAX and MOGAX shifts across timeframes, from 0.02 (all time) to 0.40 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

MPSAX vs. MOGAX — Risk / Return Rank

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

MPSAX

MPSAX Risk / Return Rank: 13
MPSAX Sharpe Ratio Rank: 11
MPSAX Sortino Ratio Rank: 11
MPSAX Omega Ratio Rank: 10
MPSAX Calmar Ratio Rank: 18
MPSAX Martin Ratio Rank: 13

MOGAX

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

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.

MPSAX vs. MOGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MassMutual Inflation-Protected and Income Fund (MPSAX) and MassMutual 60/40 Allocation Fund (MOGAX). 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.

	MPSAX	MOGAX	Difference
Sharpe ratio: Return per unit of total volatility	0.85	—	—
Sortino ratio: Return per unit of downside risk	1.27	—	—
Omega ratio: Gain probability vs. loss probability	1.15	—	—
Calmar ratio: Return relative to maximum drawdown	1.42	—	—
Martin ratio: Return relative to average drawdown	3.38	—	—

Drawdowns

Drawdown Indicators

	MPSAX	MOGAX	Difference
Max Drawdown Largest peak-to-trough decline	-19.35%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-2.04%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-4.01%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.35%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-19.35%	—	—
Current Drawdown Current decline from peak	-8.65%	—	—
Average Drawdown Average peak-to-trough decline	-6.19%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	0.86%	—	—

Volatility

Volatility by Period

	MPSAX	MOGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.18%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.44%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.42%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	11.76%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.97%	—	—

MPSAX vs. MOGAX - Expense Ratio Comparison

MPSAX has a 1.02% expense ratio, which is higher than MOGAX's 0.61% expense ratio.

Dividends

MPSAX vs. MOGAX - Dividend Comparison

MPSAX's dividend yield for the trailing twelve months is around 3.43%, less than MOGAX's 3.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
MPSAX MassMutual Inflation-Protected and Income Fund	3.43%	3.51%	1.44%	2.47%	3.34%	18.54%	5.13%	1.59%	2.68%	2.34%	2.23%	0.61%

Frequently Asked Questions

Can I hold both MPSAX and MOGAX in my portfolio?

MPSAX and MOGAX have a correlation of 0.15, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.