MSTFX vs. IVFIX

Last updated Jun 4, 2026

MSTFX (Morningstar International Equity Fund) and IVFIX (Federated Hermes International Strategic Value Dividend Fund) are both Foreign Large Cap Equities funds. Over the past 5 years, MSTFX returned 4.51%/yr vs 9.14%/yr for IVFIX. A 0.75 correlation means they provide meaningful diversification when combined. MSTFX charges 1.00%/yr vs 0.86%/yr for IVFIX.

Performance

MSTFX vs. IVFIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morningstar International Equity Fund (MSTFX) and Federated Hermes International Strategic Value Dividend Fund (IVFIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSTFX achieves a 12.24% return, which is significantly higher than IVFIX's 6.24% return.

MSTFX

• 1D: 0.48%
• 1M: 5.28%
• YTD: 12.24%
• 6M: 2.72%
• 1Y: 15.43%
• 3Y*: 11.69%
• 5Y*: 4.51%
• 10Y*: —

IVFIX

• 1D: 0.42%
• 1M: -0.70%
• YTD: 6.24%
• 6M: 8.36%
• 1Y: 16.08%
• 3Y*: 14.05%
• 5Y*: 9.14%
• 10Y*: 6.83%

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

MSTFX vs. IVFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MSTFX Morningstar International Equity Fund	12.24%	16.75%	1.29%	15.57%	-15.36%	7.25%	8.99%	22.90%	-5.75%
IVFIX Federated Hermes International Strategic Value Dividend Fund	6.24%	31.79%	1.91%	11.05%	-2.54%	11.58%	-1.74%	20.15%	-4.34%

Correlation

The correlation between MSTFX and IVFIX is 0.59, 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	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.66
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Nov 6, 2018	0.75

The correlation between MSTFX and IVFIX shifts across timeframes, from 0.59 (1 year) to 0.75 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MSTFX vs. IVFIX — Risk / Return Rank

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

MSTFX

MSTFX Risk / Return Rank: 17
MSTFX Sharpe Ratio Rank: 15
MSTFX Sortino Ratio Rank: 12
MSTFX Omega Ratio Rank: 20
MSTFX Calmar Ratio Rank: 21
MSTFX Martin Ratio Rank: 19

IVFIX

IVFIX Risk / Return Rank: 34
IVFIX Sharpe Ratio Rank: 30
IVFIX Sortino Ratio Rank: 29
IVFIX Omega Ratio Rank: 31
IVFIX Calmar Ratio Rank: 50
IVFIX Martin Ratio Rank: 32

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.

MSTFX vs. IVFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morningstar International Equity Fund (MSTFX) and Federated Hermes International Strategic Value Dividend Fund (IVFIX). 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.

	MSTFX	IVFIX	Difference
Sharpe ratio: Return per unit of total volatility	1.07	1.57	-0.50
Sortino ratio: Return per unit of downside risk	1.39	2.25	-0.86
Omega ratio: Gain probability vs. loss probability	1.23	1.29	-0.06
Calmar ratio: Return relative to maximum drawdown	1.67	2.71	-1.03
Martin ratio: Return relative to average drawdown	5.05	7.31	-2.25
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSTFX vs. IVFIX - Sharpe Ratio Comparison

The current MSTFX Sharpe Ratio is 1.07, which is lower than the IVFIX Sharpe Ratio of 1.57. The chart below compares the historical Sharpe Ratios of MSTFX and IVFIX, 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

	MSTFX	IVFIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.07	1.57	-0.50
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.28	0.73	-0.45
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.47	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.21	+0.21

Drawdowns

MSTFX vs. IVFIX - Drawdown Comparison

The maximum MSTFX drawdown since its inception was -35.86%, smaller than the maximum IVFIX drawdown of -51.49%. Use the drawdown chart below to compare losses from any high point for MSTFX and IVFIX.

Drawdown Indicators

	MSTFX	IVFIX	Difference
Max Drawdown Largest peak-to-trough decline	-35.86%	-51.49%	+15.63%
Max Drawdown (1Y) Largest decline over 1 year	-11.37%	-6.97%	-4.40%
Max Drawdown (3Y) Largest decline over 3 years	-13.93%	-10.75%	-3.18%
Max Drawdown (5Y) Largest decline over 5 years	-31.51%	-21.29%	-10.22%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.46%	—
Current Drawdown Current decline from peak	0.00%	-5.67%	+5.67%
Average Drawdown Average peak-to-trough decline	-7.81%	-11.62%	+3.81%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.93%	2.59%	+1.34%

Volatility

MSTFX vs. IVFIX - Volatility Comparison

The current volatility for Morningstar International Equity Fund (MSTFX) is 4.39%, while Federated Hermes International Strategic Value Dividend Fund (IVFIX) has a volatility of 4.83%. This indicates that MSTFX experiences smaller price fluctuations and is considered to be less risky than IVFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSTFX	IVFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.39%	4.83%	-0.44%
Volatility (6M) Calculated over the trailing 6-month period	14.96%	9.35%	+5.61%
Volatility (1Y) Calculated over the trailing 1-year period	17.82%	12.10%	+5.72%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.02%	13.13%	+3.89%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.08%	14.78%	+4.30%

MSTFX vs. IVFIX - Expense Ratio Comparison

MSTFX has a 1.00% expense ratio, which is higher than IVFIX's 0.86% expense ratio.

Dividends

MSTFX vs. IVFIX - Dividend Comparison

MSTFX's dividend yield for the trailing twelve months is around 2.28%, less than IVFIX's 3.58% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVFIX Federated Hermes International Strategic Value Dividend Fund	3.58%	3.37%	4.44%	4.01%	3.99%	3.67%	3.62%	3.98%	4.97%	4.17%	3.38%	3.95%
MSTFX Morningstar International Equity Fund	2.28%	2.56%	4.80%	2.38%	3.60%	15.59%	2.76%	2.65%	0.27%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSTFX and IVFIX in my portfolio?

MSTFX and IVFIX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSTFX or IVFIX?

IVFIX has higher volatility (4.83%) compared to MSTFX (4.39%). In terms of maximum drawdown, MSTFX dropped -35.86% vs IVFIX's -51.49%.

Which has better risk-adjusted returns?

IVFIX currently has the higher Sharpe Ratio (1.57 vs 1.07), 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.