MVCAX vs. FIUSX

Last updated Jun 5, 2026

MVCAX (MFS Mid Cap Value Fund) and FIUSX (Delaware Opportunity Fund) are both Mid Cap Value Equities funds. Over the past 10 years, MVCAX returned 9.73%/yr vs 11.07%/yr for FIUSX. With a 0.96 correlation, they move nearly in lockstep. MVCAX charges 1.02%/yr vs 1.15%/yr for FIUSX.

Performance

MVCAX vs. FIUSX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Mid Cap Value Fund (MVCAX) and Delaware Opportunity Fund (FIUSX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MVCAX achieves a 8.61% return, which is significantly lower than FIUSX's 18.90% return. Over the past 10 years, MVCAX has underperformed FIUSX with an annualized return of 9.73%, while FIUSX has yielded a comparatively higher 11.07% annualized return.

MVCAX

• 1D: -0.21%
• 1M: 1.97%
• YTD: 8.61%
• 6M: 8.61%
• 1Y: 17.49%
• 3Y*: 13.44%
• 5Y*: 7.50%
• 10Y*: 9.73%

FIUSX

• 1D: 0.08%
• 1M: 1.41%
• YTD: 18.90%
• 6M: 18.41%
• 1Y: 34.96%
• 3Y*: 20.09%
• 5Y*: 10.63%
• 10Y*: 11.07%

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

MVCAX vs. FIUSX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MVCAX MFS Mid Cap Value Fund	8.61%	6.09%	13.57%	12.51%	-8.96%	30.43%	4.03%	30.57%	-11.69%	13.37%
FIUSX Delaware Opportunity Fund	18.90%	12.60%	14.07%	11.68%	-9.62%	30.95%	0.88%	29.58%	-15.71%	18.67%

Correlation

The correlation between MVCAX and FIUSX is 0.94, 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	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.97
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Sep 4, 2001	0.96

The correlation between MVCAX and FIUSX has been stable across timeframes, ranging from 0.94 to 0.97 - a consistent structural relationship.

Return for Risk

MVCAX vs. FIUSX — Risk / Return Rank

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

MVCAX

MVCAX Risk / Return Rank: 22
MVCAX Sharpe Ratio Rank: 20
MVCAX Sortino Ratio Rank: 21
MVCAX Omega Ratio Rank: 19
MVCAX Calmar Ratio Rank: 25
MVCAX Martin Ratio Rank: 26

FIUSX

FIUSX Risk / Return Rank: 80
FIUSX Sharpe Ratio Rank: 75
FIUSX Sortino Ratio Rank: 74
FIUSX Omega Ratio Rank: 65
FIUSX Calmar Ratio Rank: 93
FIUSX 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.

MVCAX vs. FIUSX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Mid Cap Value Fund (MVCAX) and Delaware Opportunity Fund (FIUSX). 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.

	MVCAX	FIUSX	Difference
Sharpe ratio: Return per unit of total volatility	1.28	2.51	-1.23
Sortino ratio: Return per unit of downside risk	1.92	3.60	-1.67
Omega ratio: Gain probability vs. loss probability	1.23	1.45	-0.22
Calmar ratio: Return relative to maximum drawdown	1.82	5.12	-3.30
Martin ratio: Return relative to average drawdown	6.20	19.10	-12.90
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MVCAX vs. FIUSX - Sharpe Ratio Comparison

The current MVCAX Sharpe Ratio is 1.28, which is lower than the FIUSX Sharpe Ratio of 2.51. The chart below compares the historical Sharpe Ratios of MVCAX and FIUSX, 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

	MVCAX	FIUSX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.28	2.51	-1.23
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.44	0.59	-0.15
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.54	-0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.45	-0.01

Drawdowns

MVCAX vs. FIUSX - Drawdown Comparison

The maximum MVCAX drawdown since its inception was -60.41%, which is greater than FIUSX's maximum drawdown of -56.30%. Use the drawdown chart below to compare losses from any high point for MVCAX and FIUSX.

Drawdown Indicators

	MVCAX	FIUSX	Difference
Max Drawdown Largest peak-to-trough decline	-60.41%	-56.30%	-4.11%
Max Drawdown (1Y) Largest decline over 1 year	-9.39%	-6.75%	-2.64%
Max Drawdown (3Y) Largest decline over 3 years	-21.05%	-21.69%	+0.64%
Max Drawdown (5Y) Largest decline over 5 years	-21.05%	-21.69%	+0.64%
Max Drawdown (10Y) Largest decline over 10 years	-42.79%	-46.38%	+3.59%
Current Drawdown Current decline from peak	-0.40%	0.00%	-0.40%
Average Drawdown Average peak-to-trough decline	-8.13%	-9.45%	+1.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.75%	1.80%	+0.95%

Volatility

MVCAX vs. FIUSX - Volatility Comparison

The current volatility for MFS Mid Cap Value Fund (MVCAX) is 3.44%, while Delaware Opportunity Fund (FIUSX) has a volatility of 4.21%. This indicates that MVCAX experiences smaller price fluctuations and is considered to be less risky than FIUSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MVCAX	FIUSX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.44%	4.21%	-0.77%
Volatility (6M) Calculated over the trailing 6-month period	9.69%	10.46%	-0.77%
Volatility (1Y) Calculated over the trailing 1-year period	13.40%	13.81%	-0.41%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.23%	18.17%	-0.94%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.26%	20.57%	-1.31%

MVCAX vs. FIUSX - Expense Ratio Comparison

MVCAX has a 1.02% expense ratio, which is lower than FIUSX's 1.15% expense ratio.

Dividends

MVCAX vs. FIUSX - Dividend Comparison

MVCAX's dividend yield for the trailing twelve months is around 7.55%, less than FIUSX's 9.70% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIUSX Delaware Opportunity Fund	9.70%	11.53%	12.68%	2.85%	8.96%	5.62%	1.60%	40.65%	12.11%	6.00%	4.23%	1.14%
MVCAX MFS Mid Cap Value Fund	7.55%	8.21%	10.99%	2.73%	5.22%	5.70%	0.80%	2.03%	6.36%	3.36%	0.07%	4.59%

Frequently Asked Questions

Can I hold both MVCAX and FIUSX in my portfolio?

With a correlation of 0.94, MVCAX and FIUSX 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, MVCAX or FIUSX?

FIUSX has higher volatility (4.21%) compared to MVCAX (3.44%). In terms of maximum drawdown, MVCAX dropped -60.41% vs FIUSX's -56.30%.

Which has better risk-adjusted returns?

FIUSX currently has the higher Sharpe Ratio (2.51 vs 1.28), 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.