MWIGX vs. MCFIX
MWIGX (Metropolitan West Investment Grade Credit Fund) and MCFIX (Mercer Core Fixed Income Fund) are both Intermediate Core-Plus Bond funds. Over the past 5 years, MWIGX returned 0.39%/yr vs -0.77%/yr for MCFIX. Their 0.79 correlation means they have sometimes moved together and sometimes differently. MWIGX charges 1.87%/yr vs 0.16%/yr for MCFIX.
Performance
MWIGX vs. MCFIX - Performance Comparison
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Returns By Period
In the year-to-date period, MWIGX achieves a -0.45% return, which is significantly higher than MCFIX's -2.67% return.
MWIGX
- 1D
- -0.13%
- 1M
- -1.01%
- 6M
- -0.64%
- YTD
- -0.45%
- 1Y
- 2.08%
- 3Y*
- 5.19%
- 5Y*
- 0.39%
- 10Y*
- —
- ALL TIME*
- 3.18%
MCFIX
- 1D
- -0.23%
- 1M
- -1.47%
- 6M
- -2.34%
- YTD
- -2.67%
- 1Y
- -0.19%
- 3Y*
- 3.37%
- 5Y*
- -0.77%
- 10Y*
- —
- ALL TIME*
- 0.56%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MWIGX vs. MCFIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
MWIGX Metropolitan West Investment Grade Credit Fund | -0.45% | 7.99% | 3.82% | 6.55% | -13.01% | -1.13% | 8.41% | 7.52% |
MCFIX Mercer Core Fixed Income Fund | -2.67% | 6.64% | 2.02% | 6.47% | -13.69% | -1.05% | 4.75% | 3.31% |
Correlation
The correlation between MWIGX and MCFIX is 0.81, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.81 |
Correlation (3Y) Balances recent behavior with more history. | 0.83 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Apr 12, 2019 | 0.79 |
The correlation between MWIGX and MCFIX has been stable across timeframes, ranging from 0.79 to 0.85 - a consistent structural relationship.
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Return for Risk
MWIGX vs. MCFIX — Risk / Return Rank
MWIGX
MCFIX
MWIGX vs. MCFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Metropolitan West Investment Grade Credit Fund (MWIGX) and Mercer Core Fixed Income Fund (MCFIX). 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.
| MWIGX | MCFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.96 | ||
| Sortino ratioReturn per unit of downside risk | +1.43 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 0.99 | +0.17 |
| Calmar ratioReturn relative to maximum drawdown | 1.22 | -0.05 | +1.27 |
| Martin ratioReturn relative to average drawdown | 3.37 | -0.12 | +3.49 |
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Drawdowns
MWIGX vs. MCFIX - Drawdown Comparison
The maximum MWIGX drawdown since its inception was -18.32%, smaller than the maximum MCFIX drawdown of -21.68%. Use the drawdown chart below to compare losses from any high point for MWIGX and MCFIX.
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Drawdown Indicators
| MWIGX | MCFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.32% | -21.68% | +3.36% |
Max Drawdown (1Y)Largest decline over 1 year | -2.35% | -4.08% | +1.73% |
Max Drawdown (3Y)Largest decline over 3 years | -3.48% | -5.27% | +1.79% |
Max Drawdown (5Y)Largest decline over 5 years | -18.19% | -18.64% | +0.45% |
Current DrawdownCurrent decline from peak | -1.70% | -7.57% | +5.87% |
Average DrawdownAverage peak-to-trough decline | -4.40% | -8.49% | +4.09% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.85% | 1.74% | -0.89% |
Volatility
MWIGX vs. MCFIX - Volatility Comparison
The current volatility for Metropolitan West Investment Grade Credit Fund (MWIGX) is 0.77%, while Mercer Core Fixed Income Fund (MCFIX) has a volatility of 1.04%. This indicates that MWIGX experiences smaller price fluctuations and is considered to be less risky than MCFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MWIGX | MCFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.77% | 1.04% | -0.27% |
Volatility (6M)Calculated over the trailing 6-month period | 2.57% | 2.94% | -0.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.17% | 4.01% | -0.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.95% | 6.05% | -1.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.73% | 6.07% | -1.34% |
MWIGX vs. MCFIX - Expense Ratio Comparison
MWIGX has a 1.87% expense ratio, which is higher than MCFIX's 0.16% expense ratio.
Dividends
MWIGX vs. MCFIX - Dividend Comparison
MWIGX's dividend yield for the trailing twelve months is around 3.77%, less than MCFIX's 4.38% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
MCFIX Mercer Core Fixed Income Fund | 4.38% | 3.89% | 4.54% | 3.68% | 3.31% | 2.45% | 0.00% | 0.00% | 0.00% |
MWIGX Metropolitan West Investment Grade Credit Fund | 3.77% | 3.70% | 4.52% | 4.97% | 6.33% | 4.25% | 9.21% | 12.03% | 3.98% |
Frequently Asked Questions
MWIGX and MCFIX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MCFIX has higher volatility (1.04%) compared to MWIGX (0.77%). In terms of maximum drawdown, MWIGX dropped -18.32% vs MCFIX's -21.68%.
MWIGX currently has the higher Sharpe Ratio (0.91 vs -0.05), 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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