MXEOX vs. MXISX

Last updated Jun 5, 2026

MXEOX (Great-West Emerging Markets Equity Fund) and MXISX (Great-West S&P Small Cap 600 Index Fund) are both mutual funds - MXEOX is a Emerging Markets Diversified fund managed by Great-West, while MXISX is a Small Cap Blend Equities fund managed by Great-West. Over the past 5 years, MXEOX returned 7.85%/yr vs 4.96%/yr for MXISX. A 0.57 correlation means they provide meaningful diversification when combined. MXEOX charges 1.23%/yr vs 0.56%/yr for MXISX.

Performance

MXEOX vs. MXISX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Great-West Emerging Markets Equity Fund (MXEOX) and Great-West S&P Small Cap 600 Index Fund (MXISX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MXEOX achieves a 32.24% return, which is significantly higher than MXISX's 15.10% return.

MXEOX

• 1D: -0.69%
• 1M: 8.32%
• YTD: 32.24%
• 6M: 35.34%
• 1Y: 59.40%
• 3Y*: 26.39%
• 5Y*: 7.85%
• 10Y*: —

MXISX

• 1D: -0.87%
• 1M: 0.20%
• YTD: 15.10%
• 6M: 14.04%
• 1Y: 31.26%
• 3Y*: 13.52%
• 5Y*: 4.96%
• 10Y*: 9.79%

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

MXEOX vs. MXISX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MXEOX Great-West Emerging Markets Equity Fund	32.24%	32.78%	9.84%	9.67%	-22.34%	-3.49%	18.39%	21.67%	-21.34%
MXISX Great-West S&P Small Cap 600 Index Fund	15.10%	5.53%	7.87%	14.61%	-16.60%	26.08%	10.73%	21.46%	-9.42%

Correlation

The correlation between MXEOX and MXISX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.51
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (All Time) Calculated using the full available price history since Jan 5, 2018	0.57

The correlation between MXEOX and MXISX has been stable across timeframes, ranging from 0.48 to 0.57 - a consistent structural relationship.

Return for Risk

MXEOX vs. MXISX — Risk / Return Rank

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

MXEOX

MXEOX Risk / Return Rank: 91
MXEOX Sharpe Ratio Rank: 96
MXEOX Sortino Ratio Rank: 88
MXEOX Omega Ratio Rank: 89
MXEOX Calmar Ratio Rank: 90
MXEOX Martin Ratio Rank: 91

MXISX

MXISX Risk / Return Rank: 54
MXISX Sharpe Ratio Rank: 42
MXISX Sortino Ratio Rank: 43
MXISX Omega Ratio Rank: 38
MXISX Calmar Ratio Rank: 82
MXISX Martin Ratio Rank: 64

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.

MXEOX vs. MXISX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West Emerging Markets Equity Fund (MXEOX) and Great-West S&P Small Cap 600 Index Fund (MXISX). 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.

	MXEOX	MXISX	Difference
Sharpe ratio: Return per unit of total volatility	3.46	1.87	+1.59
Sortino ratio: Return per unit of downside risk	4.30	2.73	+1.57
Omega ratio: Gain probability vs. loss probability	1.64	1.33	+0.32
Calmar ratio: Return relative to maximum drawdown	4.64	3.72	+0.92
Martin ratio: Return relative to average drawdown	18.28	12.39	+5.89
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MXEOX vs. MXISX - Sharpe Ratio Comparison

The current MXEOX Sharpe Ratio is 3.46, which is higher than the MXISX Sharpe Ratio of 1.87. The chart below compares the historical Sharpe Ratios of MXEOX and MXISX, 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

	MXEOX	MXISX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.46	1.87	+1.59
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.45	0.23	+0.22
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.41	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.38	0.21	+0.18

Drawdowns

MXEOX vs. MXISX - Drawdown Comparison

The maximum MXEOX drawdown since its inception was -41.05%, smaller than the maximum MXISX drawdown of -70.66%. Use the drawdown chart below to compare losses from any high point for MXEOX and MXISX.

Drawdown Indicators

	MXEOX	MXISX	Difference
Max Drawdown Largest peak-to-trough decline	-41.05%	-70.66%	+29.61%
Max Drawdown (1Y) Largest decline over 1 year	-13.95%	-8.75%	-5.20%
Max Drawdown (3Y) Largest decline over 3 years	-17.25%	-28.07%	+10.82%
Max Drawdown (5Y) Largest decline over 5 years	-38.42%	-28.07%	-10.35%
Max Drawdown (10Y) Largest decline over 10 years	—	-44.78%	—
Current Drawdown Current decline from peak	-0.69%	-0.87%	+0.18%
Average Drawdown Average peak-to-trough decline	-17.18%	-21.86%	+4.68%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.46%	2.62%	+0.84%

Volatility

MXEOX vs. MXISX - Volatility Comparison

Great-West Emerging Markets Equity Fund (MXEOX) has a higher volatility of 8.29% compared to Great-West S&P Small Cap 600 Index Fund (MXISX) at 4.52%. This indicates that MXEOX's price experiences larger fluctuations and is considered to be riskier than MXISX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXEOX	MXISX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.29%	4.52%	+3.77%
Volatility (6M) Calculated over the trailing 6-month period	15.98%	11.72%	+4.26%
Volatility (1Y) Calculated over the trailing 1-year period	18.70%	17.49%	+1.21%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.71%	21.75%	-4.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.13%	23.85%	-4.72%

MXEOX vs. MXISX - Expense Ratio Comparison

MXEOX has a 1.23% expense ratio, which is higher than MXISX's 0.56% expense ratio.

Dividends

MXEOX vs. MXISX - Dividend Comparison

MXEOX's dividend yield for the trailing twelve months is around 0.76%, less than MXISX's 6.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MXEOX Great-West Emerging Markets Equity Fund	0.76%	1.00%	1.36%	2.01%	1.61%	3.42%	1.85%	0.94%	1.00%	0.00%	0.00%	0.00%
MXISX Great-West S&P Small Cap 600 Index Fund	6.47%	7.45%	4.53%	2.41%	6.55%	10.79%	6.55%	6.71%	14.30%	8.68%	4.94%	10.96%

Frequently Asked Questions

Can I hold both MXEOX and MXISX in my portfolio?

MXEOX and MXISX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MXEOX or MXISX?

MXEOX has higher volatility (8.29%) compared to MXISX (4.52%). In terms of maximum drawdown, MXEOX dropped -41.05% vs MXISX's -70.66%.

Which has better risk-adjusted returns?

MXEOX currently has the higher Sharpe Ratio (3.46 vs 1.87), 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.