MXBIX vs. MXGBX

Last updated Jun 26, 2026

MXBIX (Great-West Bond Index Fund) and MXGBX (Great-West Global Bond Fund) are both mutual funds - MXBIX is a Intermediate Core Bond fund managed by Great-West, while MXGBX is a Global Bonds fund managed by Great-West. Over the past 10 years, MXBIX returned 0.98%/yr vs 0.24%/yr for MXGBX. At a 0.19 correlation, their price movements are largely independent. MXBIX charges 0.50%/yr vs 1.00%/yr for MXGBX.

Performance

MXBIX vs. MXGBX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Great-West Bond Index Fund (MXBIX) and Great-West Global Bond Fund (MXGBX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MXBIX achieves a 0.77% return, which is significantly higher than MXGBX's -1.87% return. Over the past 10 years, MXBIX has outperformed MXGBX with an annualized return of 0.98%, while MXGBX has yielded a comparatively lower 0.24% annualized return.

MXBIX

• 1D: 0.54%
• 1M: 0.85%
• YTD: 0.77%
• 6M: 0.62%
• 1Y: 3.96%
• 3Y*: 3.64%
• 5Y*: -0.37%
• 10Y*: 0.98%

MXGBX

• 1D: 0.15%
• 1M: -0.73%
• YTD: -1.87%
• 6M: -2.02%
• 1Y: -0.57%
• 3Y*: 2.97%
• 5Y*: -1.73%
• 10Y*: 0.24%

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

MXBIX vs. MXGBX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MXBIX Great-West Bond Index Fund	0.77%	6.62%	0.82%	5.02%	-13.69%	-2.33%	7.10%	8.09%	-0.26%	2.56%
MXGBX Great-West Global Bond Fund	-1.87%	7.54%	-0.88%	5.13%	-14.65%	-6.57%	5.46%	4.08%	-0.27%	0.14%

Correlation

The correlation between MXBIX and MXGBX is 0.72, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.72
Correlation (3Y) Calculated over the trailing 3-year period	0.79
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.42
Correlation (All Time) Calculated using the full available price history since Jul 28, 1999	0.19

Over the past year, MXBIX and MXGBX have become more correlated (0.72) than their long-term average of 0.19, meaning their price movements have been converging.

Return for Risk

MXBIX vs. MXGBX — Risk / Return Rank

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

MXBIX

MXBIX Risk / Return Rank: 22
MXBIX Sharpe Ratio Rank: 23
MXBIX Sortino Ratio Rank: 24
MXBIX Omega Ratio Rank: 21
MXBIX Calmar Ratio Rank: 23
MXBIX Martin Ratio Rank: 19

MXGBX

MXGBX Risk / Return Rank: 3
MXGBX Sharpe Ratio Rank: 3
MXGBX Sortino Ratio Rank: 3
MXGBX Omega Ratio Rank: 3
MXGBX Calmar Ratio Rank: 3
MXGBX Martin Ratio Rank: 3

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.

MXBIX vs. MXGBX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West Bond Index Fund (MXBIX) and Great-West Global Bond Fund (MXGBX). 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.

	MXBIX	MXGBX	Difference
Sharpe ratio: Return per unit of total volatility	1.12	-0.06	+1.18
Sortino ratio: Return per unit of downside risk	1.68	-0.02	+1.70
Omega ratio: Gain probability vs. loss probability	1.20	1.00	+0.20
Calmar ratio: Return relative to maximum drawdown	1.46	-0.09	+1.54
Martin ratio: Return relative to average drawdown	4.02	-0.30	+4.33

MXBIX vs. MXGBX - Sharpe Ratio Comparison

The current MXBIX Sharpe Ratio is 1.12, which is higher than the MXGBX Sharpe Ratio of -0.06. The chart below compares the historical Sharpe Ratios of MXBIX and MXGBX, 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

MXBIX vs. MXGBX - Drawdown Comparison

The maximum MXBIX drawdown since its inception was -19.74%, smaller than the maximum MXGBX drawdown of -45.02%. Use the drawdown chart below to compare losses from any high point for MXBIX and MXGBX.

Drawdown Indicators

	MXBIX	MXGBX	Difference
Max Drawdown Largest peak-to-trough decline	-19.74%	-45.02%	+25.28%
Max Drawdown (1Y) Largest decline over 1 year	-2.87%	-6.80%	+3.93%
Max Drawdown (3Y) Largest decline over 3 years	-6.35%	-7.25%	+0.90%
Max Drawdown (5Y) Largest decline over 5 years	-18.70%	-24.16%	+5.46%
Max Drawdown (10Y) Largest decline over 10 years	-19.74%	-26.80%	+7.06%
Current Drawdown Current decline from peak	-4.83%	-34.28%	+29.45%
Average Drawdown Average peak-to-trough decline	-5.88%	-20.62%	+14.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.02%	1.90%	-0.88%

Volatility

MXBIX vs. MXGBX - Volatility Comparison

The current volatility for Great-West Bond Index Fund (MXBIX) is 1.14%, while Great-West Global Bond Fund (MXGBX) has a volatility of 1.40%. This indicates that MXBIX experiences smaller price fluctuations and is considered to be less risky than MXGBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXBIX	MXGBX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.14%	1.40%	-0.26%
Volatility (6M) Calculated over the trailing 6-month period	2.74%	3.58%	-0.84%
Volatility (1Y) Calculated over the trailing 1-year period	3.74%	9.50%	-5.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.05%	7.40%	-1.35%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.94%	6.51%	-1.57%

MXBIX vs. MXGBX - Expense Ratio Comparison

MXBIX has a 0.50% expense ratio, which is lower than MXGBX's 1.00% expense ratio.

Dividends

MXBIX vs. MXGBX - Dividend Comparison

MXBIX's dividend yield for the trailing twelve months is around 2.76%, less than MXGBX's 3.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
MXBIX Great-West Bond Index Fund	2.76%	2.78%	2.42%	1.98%	1.32%	1.51%	2.83%	1.06%	1.33%	0.70%
MXGBX Great-West Global Bond Fund	3.13%	3.07%	2.69%	0.84%	1.28%	0.07%	1.05%	3.82%	3.04%	0.14%

Frequently Asked Questions

Can I hold both MXBIX and MXGBX in my portfolio?

MXBIX and MXGBX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MXBIX or MXGBX?

MXGBX has higher volatility (1.40%) compared to MXBIX (1.14%). In terms of maximum drawdown, MXBIX dropped -19.74% vs MXGBX's -45.02%.

Which has better risk-adjusted returns?

MXBIX currently has the higher Sharpe Ratio (1.12 vs -0.06), 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.