MSILX vs. MAHIX
MSILX (iMGP International Fund) and MAHIX (iMGP High Income Alternatives Fund) are both mutual funds - MSILX is a Foreign Large Cap Equities fund managed by iMGP, while MAHIX is a Nontraditional Bonds fund managed by iMGP. Over the past 5 years, MSILX returned 5.90%/yr vs 4.71%/yr for MAHIX. Their 0.60 correlation means they have sometimes moved together and sometimes differently. MSILX charges 1.05%/yr vs 0.98%/yr for MAHIX.
Performance
MSILX vs. MAHIX - Performance Comparison
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Returns By Period
In the year-to-date period, MSILX achieves a 7.93% return, which is significantly higher than MAHIX's 2.21% return.
MSILX
- 1D
- 2.79%
- 1M
- -0.91%
- 6M
- 3.37%
- YTD
- 7.93%
- 1Y
- 19.77%
- 3Y*
- 11.59%
- 5Y*
- 5.90%
- 10Y*
- 6.97%
- ALL TIME*
- 7.06%
MAHIX
- 1D
- 0.10%
- 1M
- -0.20%
- 6M
- 1.72%
- YTD
- 2.21%
- 1Y
- 5.81%
- 3Y*
- 7.96%
- 5Y*
- 4.71%
- 10Y*
- —
- ALL TIME*
- 4.97%
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 |
MSILX vs. MAHIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MSILX iMGP International Fund | 7.93% | 30.20% | -0.58% | 17.41% | -21.57% | 11.82% | 5.03% | 29.53% | -14.96% |
MAHIX iMGP High Income Alternatives Fund | 2.21% | 7.37% | 8.84% | 12.32% | -7.05% | 5.48% | 5.63% | 8.37% | -2.98% |
Correlation
The correlation between MSILX and MAHIX is 0.66, 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. | 0.66 |
Correlation (3Y) Balances recent behavior with more history. | 0.53 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.58 |
Correlation (All Time) Calculated using the full available price history since Oct 5, 2018 | 0.60 |
The correlation between MSILX and MAHIX shifts across timeframes, from 0.53 (3 years) to 0.66 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MSILX vs. MAHIX — Risk / Return Rank
MSILX
MAHIX
MSILX vs. MAHIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for iMGP International Fund (MSILX) and iMGP High Income Alternatives Fund (MAHIX). 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.
| MSILX | MAHIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.76 | ||
| Sortino ratioReturn per unit of downside risk | -2.79 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 1.61 | -0.42 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | 3.48 | -2.13 |
| Martin ratioReturn relative to average drawdown | 4.94 | 16.90 | -11.96 |
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Drawdowns
MSILX vs. MAHIX - Drawdown Comparison
The maximum MSILX drawdown since its inception was -60.45%, which is greater than MAHIX's maximum drawdown of -20.00%. Use the drawdown chart below to compare losses from any high point for MSILX and MAHIX.
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Drawdown Indicators
| MSILX | MAHIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.45% | -20.00% | -40.45% |
Max Drawdown (1Y)Largest decline over 1 year | -12.70% | -1.71% | -10.99% |
Max Drawdown (3Y)Largest decline over 3 years | -15.73% | -2.97% | -12.76% |
Max Drawdown (5Y)Largest decline over 5 years | -34.92% | -9.52% | -25.40% |
Max Drawdown (10Y)Largest decline over 10 years | -45.23% | — | — |
Current DrawdownCurrent decline from peak | -1.44% | -0.30% | -1.14% |
Average DrawdownAverage peak-to-trough decline | -15.72% | -1.68% | -14.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.48% | 0.35% | +3.13% |
Volatility
MSILX vs. MAHIX - Volatility Comparison
iMGP International Fund (MSILX) has a higher volatility of 5.04% compared to iMGP High Income Alternatives Fund (MAHIX) at 0.61%. This indicates that MSILX's price experiences larger fluctuations and is considered to be riskier than MAHIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSILX | MAHIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.04% | 0.61% | +4.43% |
Volatility (6M)Calculated over the trailing 6-month period | 13.52% | 1.76% | +11.76% |
Volatility (1Y)Calculated over the trailing 1-year period | 15.89% | 2.09% | +13.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.19% | 2.86% | +15.33% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.10% | 4.56% | +14.54% |
MSILX vs. MAHIX - Expense Ratio Comparison
MSILX has a 1.05% expense ratio, which is higher than MAHIX's 0.98% expense ratio.
Dividends
MSILX vs. MAHIX - Dividend Comparison
MSILX's dividend yield for the trailing twelve months is around 1.44%, less than MAHIX's 7.04% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MAHIX iMGP High Income Alternatives Fund | 7.04% | 7.16% | 5.98% | 6.28% | 4.25% | 4.80% | 3.75% | 3.65% | 0.65% | 0.00% | 0.00% | 0.00% |
MSILX iMGP International Fund | 1.44% | 1.55% | 1.24% | 1.01% | 0.88% | 3.70% | 2.23% | 2.99% | 0.74% | 2.94% | 4.15% | 1.68% |
Frequently Asked Questions
MSILX and MAHIX have a correlation of 0.66, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSILX has higher volatility (5.04%) compared to MAHIX (0.61%). In terms of maximum drawdown, MSILX dropped -60.45% vs MAHIX's -20.00%.
MAHIX currently has the higher Sharpe Ratio (2.84 vs 1.08), 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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