MSTDX vs. DLDFX

Last updated Jun 5, 2026

MSTDX (MassMutual Short Duration Bond Fund) and DLDFX (Destinations Low Duration Fixed Income Fund) are both Short-Term Bond funds. Over the past 5 years, MSTDX returned 1.36%/yr vs 3.83%/yr for DLDFX. At a 0.33 correlation, their price movements are largely independent. MSTDX charges 0.51%/yr vs 0.93%/yr for DLDFX.

Performance

MSTDX vs. DLDFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MassMutual Short Duration Bond Fund (MSTDX) and Destinations Low Duration Fixed Income Fund (DLDFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSTDX achieves a 0.84% return, which is significantly lower than DLDFX's 1.61% return.

MSTDX

• 1D: 0.00%
• 1M: 0.01%
• YTD: 0.84%
• 6M: 1.36%
• 1Y: 4.40%
• 3Y*: 5.62%
• 5Y*: 1.36%
• 10Y*: 2.08%

DLDFX

• 1D: 0.00%
• 1M: 0.14%
• YTD: 1.61%
• 6M: 2.08%
• 1Y: 4.66%
• 3Y*: 5.87%
• 5Y*: 3.83%
• 10Y*: —

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

MSTDX vs. DLDFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
MSTDX MassMutual Short Duration Bond Fund	0.84%	6.18%	6.38%	5.88%	-11.19%	1.79%	2.29%	2.14%
DLDFX Destinations Low Duration Fixed Income Fund	1.61%	4.91%	6.09%	7.11%	-2.59%	5.41%	1.52%	1.16%

Correlation

The correlation between MSTDX and DLDFX is 0.37, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.37
Correlation (3Y) Calculated over the trailing 3-year period	0.39
Correlation (5Y) Calculated over the trailing 5-year period	0.34
Correlation (All Time) Calculated using the full available price history since Jun 4, 2019	0.33

Return for Risk

MSTDX vs. DLDFX — Risk / Return Rank

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

MSTDX

MSTDX Risk / Return Rank: 87
MSTDX Sharpe Ratio Rank: 75
MSTDX Sortino Ratio Rank: 93
MSTDX Omega Ratio Rank: 90
MSTDX Calmar Ratio Rank: 88
MSTDX Martin Ratio Rank: 90

DLDFX

DLDFX Risk / Return Rank: 94
DLDFX Sharpe Ratio Rank: 87
DLDFX Sortino Ratio Rank: 94
DLDFX Omega Ratio Rank: 96
DLDFX Calmar Ratio Rank: 97
DLDFX Martin Ratio Rank: 95

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.

MSTDX vs. DLDFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MassMutual Short Duration Bond Fund (MSTDX) and Destinations Low Duration Fixed Income Fund (DLDFX). 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.

	MSTDX	DLDFX	Difference
Sharpe ratio: Return per unit of total volatility	2.49	2.84	-0.34
Sortino ratio: Return per unit of downside risk	4.74	4.96	-0.22
Omega ratio: Gain probability vs. loss probability	1.66	1.84	-0.18
Calmar ratio: Return relative to maximum drawdown	4.26	7.49	-3.23
Martin ratio: Return relative to average drawdown	17.85	22.28	-4.43
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSTDX vs. DLDFX - Sharpe Ratio Comparison

The current MSTDX Sharpe Ratio is 2.49, which is comparable to the DLDFX Sharpe Ratio of 2.84. The chart below compares the historical Sharpe Ratios of MSTDX and DLDFX, 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

	MSTDX	DLDFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.49	2.84	-0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.59	2.15	-1.57
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	1.01	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.24	1.73	-0.48

Drawdowns

MSTDX vs. DLDFX - Drawdown Comparison

The maximum MSTDX drawdown since its inception was -13.31%, which is greater than DLDFX's maximum drawdown of -8.64%. Use the drawdown chart below to compare losses from any high point for MSTDX and DLDFX.

Drawdown Indicators

	MSTDX	DLDFX	Difference
Max Drawdown Largest peak-to-trough decline	-13.31%	-8.64%	-4.67%
Max Drawdown (1Y) Largest decline over 1 year	-1.06%	-0.64%	-0.42%
Max Drawdown (3Y) Largest decline over 3 years	-1.06%	-1.71%	+0.65%
Max Drawdown (5Y) Largest decline over 5 years	-13.31%	-3.88%	-9.43%
Max Drawdown (10Y) Largest decline over 10 years	-13.31%	—	—
Current Drawdown Current decline from peak	-0.11%	-0.16%	+0.05%
Average Drawdown Average peak-to-trough decline	-1.43%	-0.70%	-0.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.25%	0.21%	+0.04%

Volatility

MSTDX vs. DLDFX - Volatility Comparison

MassMutual Short Duration Bond Fund (MSTDX) has a higher volatility of 0.64% compared to Destinations Low Duration Fixed Income Fund (DLDFX) at 0.29%. This indicates that MSTDX's price experiences larger fluctuations and is considered to be riskier than DLDFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSTDX	DLDFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.64%	0.29%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	1.36%	1.28%	+0.08%
Volatility (1Y) Calculated over the trailing 1-year period	1.82%	1.69%	+0.13%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.33%	1.80%	+0.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.06%	2.07%	-0.01%

MSTDX vs. DLDFX - Expense Ratio Comparison

MSTDX has a 0.51% expense ratio, which is lower than DLDFX's 0.93% expense ratio.

Dividends

MSTDX vs. DLDFX - Dividend Comparison

MSTDX's dividend yield for the trailing twelve months is around 4.44%, less than DLDFX's 5.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DLDFX Destinations Low Duration Fixed Income Fund	5.33%	5.29%	5.64%	4.77%	4.54%	3.74%	3.86%	2.18%	0.00%	0.00%	0.00%	0.00%
MSTDX MassMutual Short Duration Bond Fund	4.44%	4.36%	2.63%	2.48%	1.46%	1.90%	4.44%	3.35%	3.82%	2.51%	2.36%	2.57%

Frequently Asked Questions

Can I hold both MSTDX and DLDFX in my portfolio?

MSTDX and DLDFX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSTDX or DLDFX?

MSTDX has higher volatility (0.64%) compared to DLDFX (0.29%). In terms of maximum drawdown, MSTDX dropped -13.31% vs DLDFX's -8.64%.

Which has better risk-adjusted returns?

DLDFX currently has the higher Sharpe Ratio (2.84 vs 2.49), 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.