MURMX vs. MARMX

Last updated Jun 4, 2026

MURMX (Mutual of America 2045 Retirement Fund) and MARMX (Mutual of America Retirement Income Fund) are both Target Retirement Date funds from Mutual of America. Over the past 5 years, MURMX returned 8.14%/yr vs 3.23%/yr for MARMX. Their correlation of 0.84 suggests significant overlap in exposure. MURMX charges 0.08%/yr vs 0.13%/yr for MARMX.

Performance

MURMX vs. MARMX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Mutual of America 2045 Retirement Fund (MURMX) and Mutual of America Retirement Income Fund (MARMX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MURMX achieves a 9.54% return, which is significantly higher than MARMX's 3.75% return.

MURMX

• 1D: 0.30%
• 1M: 4.06%
• YTD: 9.54%
• 6M: 10.03%
• 1Y: 23.29%
• 3Y*: 16.26%
• 5Y*: 8.14%
• 10Y*: —

MARMX

• 1D: 0.08%
• 1M: 1.93%
• YTD: 3.75%
• 6M: 3.95%
• 1Y: 11.47%
• 3Y*: 8.00%
• 5Y*: 3.23%
• 10Y*: —

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

MURMX vs. MARMX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MURMX Mutual of America 2045 Retirement Fund	9.54%	17.76%	13.85%	15.43%	-16.20%	17.37%	998.46%
MARMX Mutual of America Retirement Income Fund	3.75%	10.54%	5.88%	7.79%	-11.40%	3.49%	890.98%

Correlation

The correlation between MURMX and MARMX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (All Time) Calculated using the full available price history since Jun 29, 2020	0.84

The correlation between MURMX and MARMX has been stable across timeframes, ranging from 0.84 to 0.92 - a consistent structural relationship.

Return for Risk

MURMX vs. MARMX — Risk / Return Rank

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

MURMX

MURMX Risk / Return Rank: 68
MURMX Sharpe Ratio Rank: 64
MURMX Sortino Ratio Rank: 69
MURMX Omega Ratio Rank: 61
MURMX Calmar Ratio Rank: 68
MURMX Martin Ratio Rank: 80

MARMX

MARMX Risk / Return Rank: 77
MARMX Sharpe Ratio Rank: 76
MARMX Sortino Ratio Rank: 82
MARMX Omega Ratio Rank: 75
MARMX Calmar Ratio Rank: 72
MARMX Martin Ratio Rank: 80

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.

MURMX vs. MARMX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Mutual of America 2045 Retirement Fund (MURMX) and Mutual of America Retirement Income Fund (MARMX). 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.

	MURMX	MARMX	Difference
Sharpe ratio: Return per unit of total volatility	2.36	2.54	-0.19
Sortino ratio: Return per unit of downside risk	3.49	3.94	-0.45
Omega ratio: Gain probability vs. loss probability	1.43	1.49	-0.06
Calmar ratio: Return relative to maximum drawdown	3.18	3.29	-0.11
Martin ratio: Return relative to average drawdown	15.05	15.05	0.00
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MURMX vs. MARMX - Sharpe Ratio Comparison

The current MURMX Sharpe Ratio is 2.36, which is comparable to the MARMX Sharpe Ratio of 2.54. The chart below compares the historical Sharpe Ratios of MURMX and MARMX, 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

	MURMX	MARMX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.36	2.54	-0.19
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.55	0.48	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.17	0.15	+0.01

Drawdowns

MURMX vs. MARMX - Drawdown Comparison

The maximum MURMX drawdown since its inception was -32.65%, which is greater than MARMX's maximum drawdown of -16.21%. Use the drawdown chart below to compare losses from any high point for MURMX and MARMX.

Drawdown Indicators

	MURMX	MARMX	Difference
Max Drawdown Largest peak-to-trough decline	-32.65%	-16.21%	-16.44%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-3.92%	-4.42%
Max Drawdown (3Y) Largest decline over 3 years	-14.67%	-5.64%	-9.03%
Max Drawdown (5Y) Largest decline over 5 years	-23.56%	-15.94%	-7.62%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-5.48%	-4.28%	-1.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.69%	0.82%	+0.87%

Volatility

MURMX vs. MARMX - Volatility Comparison

Mutual of America 2045 Retirement Fund (MURMX) has a higher volatility of 3.17% compared to Mutual of America Retirement Income Fund (MARMX) at 1.76%. This indicates that MURMX's price experiences larger fluctuations and is considered to be riskier than MARMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MURMX	MARMX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.17%	1.76%	+1.41%
Volatility (6M) Calculated over the trailing 6-month period	9.09%	4.13%	+4.96%
Volatility (1Y) Calculated over the trailing 1-year period	11.27%	5.08%	+6.19%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.73%	7.53%	+9.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	380.75%	393.36%	-12.61%

MURMX vs. MARMX - Expense Ratio Comparison

MURMX has a 0.08% expense ratio, which is lower than MARMX's 0.13% expense ratio. Despite the difference, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.

Dividends

MURMX vs. MARMX - Dividend Comparison

MURMX's dividend yield for the trailing twelve months is around 8.02%, more than MARMX's 4.16% yield.

Position	TTM	2025	2024	2023	2022	2021
MARMX Mutual of America Retirement Income Fund	4.16%	4.32%	4.16%	1.55%	5.73%	2.03%
MURMX Mutual of America 2045 Retirement Fund	8.02%	8.79%	8.17%	2.95%	11.94%	4.69%

Frequently Asked Questions

Can I hold both MURMX and MARMX in my portfolio?

With a correlation of 0.92, MURMX and MARMX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MURMX or MARMX?

MURMX has higher volatility (3.17%) compared to MARMX (1.76%). In terms of maximum drawdown, MURMX dropped -32.65% vs MARMX's -16.21%.

Which has better risk-adjusted returns?

MARMX currently has the higher Sharpe Ratio (2.54 vs 2.36), 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.