MURMX vs. MURLX

Last updated Jun 23, 2026

MURMX (Mutual of America 2045 Retirement Fund) and MURLX (Mutual of America 2040 Retirement Fund) are both Target Retirement Date funds from Mutual of America. Over the past 5 years, MURMX returned 8.11%/yr vs 7.62%/yr for MURLX. With a 0.97 correlation, they move nearly in lockstep. Both charge a 0.08% expense ratio.

Performance

MURMX vs. MURLX - 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 2040 Retirement Fund (MURLX). 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 MURLX's 8.57% return.

MURMX

• 1D: 0.97%
• 1M: 1.52%
• YTD: 9.54%
• 6M: 8.97%
• 1Y: 23.46%
• 3Y*: 15.57%
• 5Y*: 8.11%
• 10Y*: —

MURLX

• 1D: 0.91%
• 1M: 1.41%
• YTD: 8.57%
• 6M: 8.14%
• 1Y: 21.65%
• 3Y*: 14.79%
• 5Y*: 7.62%
• 10Y*: —

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

MURMX vs. MURLX - 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%	891.67%
MURLX Mutual of America 2040 Retirement Fund	8.57%	17.01%	13.28%	14.86%	-15.95%	16.84%	889.04%

Correlation

The correlation between MURMX and MURLX is 1.00 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	1.00
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Jan 2, 2020	0.97

The correlation between MURMX and MURLX has been stable across timeframes, ranging from 0.97 to 1.00 - a consistent structural relationship.

Return for Risk

MURMX vs. MURLX — Risk / Return Rank

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

MURMX

MURMX Risk / Return Rank: 73
MURMX Sharpe Ratio Rank: 68
MURMX Sortino Ratio Rank: 74
MURMX Omega Ratio Rank: 65
MURMX Calmar Ratio Rank: 71
MURMX Martin Ratio Rank: 84

MURLX

MURLX Risk / Return Rank: 72
MURLX Sharpe Ratio Rank: 67
MURLX Sortino Ratio Rank: 73
MURLX Omega Ratio Rank: 64
MURLX Calmar Ratio Rank: 71
MURLX Martin Ratio Rank: 82

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. MURLX - 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 2040 Retirement Fund (MURLX). 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.

	MURMX	MURLX	Difference
Sharpe ratio: Return per unit of total volatility	2.22	2.20	+0.02
Sortino ratio: Return per unit of downside risk	3.28	3.26	+0.02
Omega ratio: Gain probability vs. loss probability	1.41	1.40	0.00
Calmar ratio: Return relative to maximum drawdown	3.12	3.10	+0.02
Martin ratio: Return relative to average drawdown	14.49	14.30	+0.19

MURMX vs. MURLX - Sharpe Ratio Comparison

The current MURMX Sharpe Ratio is 2.22, which is comparable to the MURLX Sharpe Ratio of 2.20. The chart below compares the historical Sharpe Ratios of MURMX and MURLX, 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

MURMX vs. MURLX - Drawdown Comparison

The maximum MURMX drawdown since its inception was -32.65%, roughly equal to the maximum MURLX drawdown of -31.54%. Use the drawdown chart below to compare losses from any high point for MURMX and MURLX.

Drawdown Indicators

	MURMX	MURLX	Difference
Max Drawdown Largest peak-to-trough decline	-32.65%	-31.54%	-1.11%
Max Drawdown (1Y) Largest decline over 1 year	-8.34%	-7.75%	-0.59%
Max Drawdown (3Y) Largest decline over 3 years	-14.67%	-13.69%	-0.98%
Max Drawdown (5Y) Largest decline over 5 years	-23.56%	-23.06%	-0.50%
Current Drawdown Current decline from peak	-0.24%	-0.18%	-0.06%
Average Drawdown Average peak-to-trough decline	-5.44%	-5.37%	-0.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.72%	1.61%	+0.11%

Volatility

MURMX vs. MURLX - Volatility Comparison

Mutual of America 2045 Retirement Fund (MURMX) has a higher volatility of 3.93% compared to Mutual of America 2040 Retirement Fund (MURLX) at 3.68%. This indicates that MURMX's price experiences larger fluctuations and is considered to be riskier than MURLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MURMX	MURLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.93%	3.68%	+0.25%
Volatility (6M) Calculated over the trailing 6-month period	9.41%	8.74%	+0.67%
Volatility (1Y) Calculated over the trailing 1-year period	11.71%	10.92%	+0.79%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.78%	16.07%	+0.71%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	379.05%	380.41%	-1.36%

MURMX vs. MURLX - Expense Ratio Comparison

Both MURMX and MURLX have an expense ratio of 0.08%, making them cost-effective options compared to the broader market, where average expense ratios typically range from 0.3% to 0.9%.

Dividends

MURMX vs. MURLX - Dividend Comparison

MURMX's dividend yield for the trailing twelve months is around 8.02%, more than MURLX's 7.94% yield.

Position	TTM	2025	2024	2023	2022	2021
MURLX Mutual of America 2040 Retirement Fund	7.94%	8.62%	8.02%	3.04%	11.39%	4.17%
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 MURLX in my portfolio?

With a correlation of 1.00, MURMX and MURLX 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 MURLX?

MURMX has higher volatility (3.93%) compared to MURLX (3.68%). In terms of maximum drawdown, MURMX dropped -32.65% vs MURLX's -31.54%.

Which has better risk-adjusted returns?

MURMX currently has the higher Sharpe Ratio (2.22 vs 2.20), 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.