MSTGX vs. SAWMX

Last updated Jun 25, 2026

MSTGX (Morningstar Global Income Fund) and SAWMX (SA Worldwide Moderate Growth Fund) are both Global Allocation funds. Over the past 5 years, MSTGX returned 4.43%/yr vs 8.05%/yr for SAWMX. Their correlation of 0.87 suggests significant overlap in exposure. MSTGX charges 0.62%/yr vs 0.00%/yr for SAWMX.

Performance

MSTGX vs. SAWMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morningstar Global Income Fund (MSTGX) and SA Worldwide Moderate Growth Fund (SAWMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSTGX achieves a 5.95% return, which is significantly lower than SAWMX's 9.88% return.

MSTGX

• 1D: -0.10%
• 1M: 0.01%
• YTD: 5.95%
• 6M: 5.76%
• 1Y: 10.47%
• 3Y*: 10.14%
• 5Y*: 4.43%
• 10Y*: —

SAWMX

• 1D: -0.71%
• 1M: 0.65%
• YTD: 9.88%
• 6M: 9.38%
• 1Y: 21.27%
• 3Y*: 14.28%
• 5Y*: 8.05%
• 10Y*: 8.94%

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

MSTGX vs. SAWMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MSTGX Morningstar Global Income Fund	5.95%	12.04%	5.36%	11.91%	-11.18%	8.46%	3.92%	19.97%	-3.56%
SAWMX SA Worldwide Moderate Growth Fund	9.88%	18.15%	6.40%	13.60%	-8.96%	16.67%	4.12%	17.03%	-5.63%

Correlation

The correlation between MSTGX and SAWMX is 0.77, 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	0.77
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Nov 5, 2018	0.87

The correlation between MSTGX and SAWMX shifts across timeframes, from 0.77 (1 year) to 0.87 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MSTGX vs. SAWMX — Risk / Return Rank

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

MSTGX

MSTGX Risk / Return Rank: 67
MSTGX Sharpe Ratio Rank: 67
MSTGX Sortino Ratio Rank: 72
MSTGX Omega Ratio Rank: 65
MSTGX Calmar Ratio Rank: 75
MSTGX Martin Ratio Rank: 54

SAWMX

SAWMX Risk / Return Rank: 93
SAWMX Sharpe Ratio Rank: 97
SAWMX Sortino Ratio Rank: 95
SAWMX Omega Ratio Rank: 91
SAWMX Calmar Ratio Rank: 90
SAWMX Martin Ratio Rank: 92

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.

MSTGX vs. SAWMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morningstar Global Income Fund (MSTGX) and SA Worldwide Moderate Growth Fund (SAWMX). 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.

	MSTGX	SAWMX	Difference
Sharpe ratio: Return per unit of total volatility	2.10	3.22	-1.12
Sortino ratio: Return per unit of downside risk	3.10	4.68	-1.57
Omega ratio: Gain probability vs. loss probability	1.39	1.61	-0.22
Calmar ratio: Return relative to maximum drawdown	3.12	4.22	-1.10
Martin ratio: Return relative to average drawdown	9.91	16.70	-6.79

MSTGX vs. SAWMX - Sharpe Ratio Comparison

The current MSTGX Sharpe Ratio is 2.10, which is lower than the SAWMX Sharpe Ratio of 3.22. The chart below compares the historical Sharpe Ratios of MSTGX and SAWMX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MSTGX vs. SAWMX - Drawdown Comparison

The maximum MSTGX drawdown since its inception was -27.52%, smaller than the maximum SAWMX drawdown of -30.56%. Use the drawdown chart below to compare losses from any high point for MSTGX and SAWMX.

Drawdown Indicators

	MSTGX	SAWMX	Difference
Max Drawdown Largest peak-to-trough decline	-27.52%	-30.56%	+3.04%
Max Drawdown (1Y) Largest decline over 1 year	-4.38%	-5.79%	+1.41%
Max Drawdown (3Y) Largest decline over 3 years	-6.56%	-11.86%	+5.30%
Max Drawdown (5Y) Largest decline over 5 years	-19.64%	-17.57%	-2.07%
Max Drawdown (10Y) Largest decline over 10 years	—	-30.56%	—
Current Drawdown Current decline from peak	-1.26%	-1.14%	-0.12%
Average Drawdown Average peak-to-trough decline	-4.31%	-3.68%	-0.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.26%	1.41%	-0.15%

Volatility

MSTGX vs. SAWMX - Volatility Comparison

The current volatility for Morningstar Global Income Fund (MSTGX) is 1.90%, while SA Worldwide Moderate Growth Fund (SAWMX) has a volatility of 2.54%. This indicates that MSTGX experiences smaller price fluctuations and is considered to be less risky than SAWMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSTGX	SAWMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.90%	2.54%	-0.64%
Volatility (6M) Calculated over the trailing 6-month period	4.99%	5.87%	-0.88%
Volatility (1Y) Calculated over the trailing 1-year period	6.50%	7.58%	-1.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.14%	9.91%	-1.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.81%	11.04%	-0.23%

MSTGX vs. SAWMX - Expense Ratio Comparison

MSTGX has a 0.62% expense ratio, which is higher than SAWMX's 0.00% expense ratio.

Dividends

MSTGX vs. SAWMX - Dividend Comparison

MSTGX's dividend yield for the trailing twelve months is around 2.92%, less than SAWMX's 5.42% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
MSTGX Morningstar Global Income Fund	2.92%	2.97%	6.64%	6.32%	8.79%	10.48%	2.96%	4.11%	0.56%	0.00%	0.00%
SAWMX SA Worldwide Moderate Growth Fund	5.42%	5.95%	3.34%	4.20%	8.36%	4.52%	4.88%	5.66%	6.82%	1.28%	1.96%

Frequently Asked Questions

Can I hold both MSTGX and SAWMX in my portfolio?

MSTGX and SAWMX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSTGX or SAWMX?

SAWMX has higher volatility (2.54%) compared to MSTGX (1.90%). In terms of maximum drawdown, MSTGX dropped -27.52% vs SAWMX's -30.56%.

Which has better risk-adjusted returns?

SAWMX currently has the higher Sharpe Ratio (3.22 vs 2.10), 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.