MVCAX vs. TAFTX
MVCAX (MFS Mid Cap Value Fund) and TAFTX (American Funds Tax-Exempt Fund of California) are both mutual funds - MVCAX is a Mid Cap Value Equities fund managed by MFS, while TAFTX is a Municipal Bonds fund managed by American Funds. Over the past 10 years, MVCAX returned 10.13%/yr vs 1.96%/yr for TAFTX. At a correlation of -0.11, they often move in opposite directions. MVCAX charges 1.02%/yr vs 0.57%/yr for TAFTX.
Performance
MVCAX vs. TAFTX - Performance Comparison
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Returns By Period
In the year-to-date period, MVCAX achieves a 12.77% return, which is significantly higher than TAFTX's 1.84% return. Over the past 10 years, MVCAX has outperformed TAFTX with an annualized return of 10.13%, while TAFTX has yielded a comparatively lower 1.96% annualized return.
MVCAX
- 1D
- 0.65%
- 1M
- 1.44%
- 6M
- 8.93%
- YTD
- 12.77%
- 1Y
- 16.64%
- 3Y*
- 12.92%
- 5Y*
- 8.70%
- 10Y*
- 10.13%
TAFTX
- 1D
- 0.00%
- 1M
- 0.43%
- 6M
- 1.41%
- YTD
- 1.84%
- 1Y
- 7.13%
- 3Y*
- 4.25%
- 5Y*
- 0.76%
- 10Y*
- 1.96%
MVCAX vs. TAFTX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MVCAX MFS Mid Cap Value Fund | 12.77% | 6.09% | 13.57% | 12.51% | -8.96% | 30.43% | 4.03% | 30.57% | -11.69% | 13.37% |
TAFTX American Funds Tax-Exempt Fund of California | 1.84% | 4.73% | 2.31% | 5.76% | -9.78% | 1.88% | 4.43% | 7.33% | 0.71% | 5.96% |
Correlation
The correlation between MVCAX and TAFTX is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.17 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.01 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2001 | -0.11 |
The correlation between MVCAX and TAFTX shifts across timeframes, from -0.11 (all time) to 0.23 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MVCAX vs. TAFTX — Risk / Return Rank
MVCAX
TAFTX
MVCAX vs. TAFTX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS Mid Cap Value Fund (MVCAX) and American Funds Tax-Exempt Fund of California (TAFTX). 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.
| MVCAX | TAFTX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.22 | ||
| Sortino ratioReturn per unit of downside risk | -1.93 | ||
| Omega ratioGain probability vs. loss probability | 1.22 | 1.58 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | 1.79 | 2.26 | -0.48 |
| Martin ratioReturn relative to average drawdown | 6.09 | 7.98 | -1.89 |
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Drawdowns
MVCAX vs. TAFTX - Drawdown Comparison
The maximum MVCAX drawdown since its inception was -60.41%, which is greater than TAFTX's maximum drawdown of -18.83%. Use the drawdown chart below to compare losses from any high point for MVCAX and TAFTX.
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Drawdown Indicators
| MVCAX | TAFTX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.41% | -18.83% | -41.58% |
Max Drawdown (1Y)Largest decline over 1 year | -9.39% | -3.05% | -6.34% |
Max Drawdown (3Y)Largest decline over 3 years | -21.05% | -5.66% | -15.39% |
Max Drawdown (5Y)Largest decline over 5 years | -21.05% | -14.82% | -6.23% |
Max Drawdown (10Y)Largest decline over 10 years | -42.79% | -14.82% | -27.97% |
Current DrawdownCurrent decline from peak | -0.73% | -0.47% | -0.26% |
Average DrawdownAverage peak-to-trough decline | -8.10% | -1.93% | -6.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.75% | 0.87% | +1.88% |
Volatility
MVCAX vs. TAFTX - Volatility Comparison
MFS Mid Cap Value Fund (MVCAX) has a higher volatility of 3.89% compared to American Funds Tax-Exempt Fund of California (TAFTX) at 0.60%. This indicates that MVCAX's price experiences larger fluctuations and is considered to be riskier than TAFTX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MVCAX | TAFTX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.89% | 0.60% | +3.29% |
Volatility (6M)Calculated over the trailing 6-month period | 9.91% | 2.18% | +7.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 13.52% | 2.80% | +10.72% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.19% | 4.05% | +13.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.17% | 3.92% | +15.25% |
MVCAX vs. TAFTX - Expense Ratio Comparison
MVCAX has a 1.02% expense ratio, which is higher than TAFTX's 0.57% expense ratio.
Dividends
MVCAX vs. TAFTX - Dividend Comparison
MVCAX's dividend yield for the trailing twelve months is around 7.28%, more than TAFTX's 3.05% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MVCAX MFS Mid Cap Value Fund | 7.28% | 8.21% | 10.99% | 2.73% | 5.22% | 5.70% | 0.80% | 2.03% | 6.36% | 3.36% | 0.07% | 4.59% |
TAFTX American Funds Tax-Exempt Fund of California | 3.05% | 3.96% | 2.64% | 2.19% | 1.82% | 2.19% | 2.65% | 3.15% | 2.93% | 2.95% | 3.13% | 3.32% |
Frequently Asked Questions
MVCAX and TAFTX have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MVCAX has higher volatility (3.89%) compared to TAFTX (0.60%). In terms of maximum drawdown, MVCAX dropped -60.41% vs TAFTX's -18.83%.
TAFTX currently has the higher Sharpe Ratio (2.46 vs 1.24), 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.
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