MXGBX vs. VTIIX

Last updated Jun 25, 2026

MXGBX (Great-West Global Bond Fund) and VTIIX (Vanguard Total International Bond II Index Fund Investor Class) are both Global Bonds funds. Over the past 5 years, MXGBX returned -1.71%/yr vs 0.40%/yr for VTIIX. A 0.60 correlation means they provide meaningful diversification when combined. MXGBX charges 1.00%/yr vs 0.11%/yr for VTIIX.

Performance

MXGBX vs. VTIIX - Performance Comparison

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

Returns By Period

In the year-to-date period, MXGBX achieves a -2.01% return, which is significantly lower than VTIIX's 1.13% return.

MXGBX

• 1D: 0.00%
• 1M: -0.44%
• YTD: -2.01%
• 6M: -2.17%
• 1Y: -0.71%
• 3Y*: 2.92%
• 5Y*: -1.71%
• 10Y*: 0.22%

VTIIX

• 1D: 0.23%
• 1M: 1.04%
• YTD: 1.13%
• 6M: 1.24%
• 1Y: 2.24%
• 3Y*: 4.27%
• 5Y*: 0.40%
• 10Y*: —

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

MXGBX vs. VTIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021
MXGBX Great-West Global Bond Fund	-2.01%	7.54%	-0.88%	5.13%	-14.65%	-3.37%
VTIIX Vanguard Total International Bond II Index Fund Investor Class	1.13%	2.95%	3.82%	8.72%	-13.03%	-0.52%

Correlation

The correlation between MXGBX and VTIIX is 0.68, 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	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.60
Correlation (All Time) Calculated using the full available price history since Mar 2, 2021	0.60

The correlation between MXGBX and VTIIX has been stable across timeframes, ranging from 0.60 to 0.68 - a consistent structural relationship.

Return for Risk

MXGBX vs. VTIIX — Risk / Return Rank

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

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

VTIIX

VTIIX Risk / Return Rank: 10
VTIIX Sharpe Ratio Rank: 11
VTIIX Sortino Ratio Rank: 10
VTIIX Omega Ratio Rank: 10
VTIIX Calmar Ratio Rank: 10
VTIIX Martin Ratio Rank: 9

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.

MXGBX vs. VTIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West Global Bond Fund (MXGBX) and Vanguard Total International Bond II Index Fund Investor Class (VTIIX). 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.

	MXGBX	VTIIX	Difference
Sharpe ratio: Return per unit of total volatility	-0.03	0.74	-0.77
Sortino ratio: Return per unit of downside risk	0.02	1.08	-1.06
Omega ratio: Gain probability vs. loss probability	1.00	1.13	-0.13
Calmar ratio: Return relative to maximum drawdown	-0.04	0.80	-0.85
Martin ratio: Return relative to average drawdown	-0.16	2.18	-2.34

MXGBX vs. VTIIX - Sharpe Ratio Comparison

The current MXGBX Sharpe Ratio is -0.03, which is lower than the VTIIX Sharpe Ratio of 0.74. The chart below compares the historical Sharpe Ratios of MXGBX and VTIIX, 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

MXGBX vs. VTIIX - Drawdown Comparison

The maximum MXGBX drawdown since its inception was -45.02%, which is greater than VTIIX's maximum drawdown of -15.95%. Use the drawdown chart below to compare losses from any high point for MXGBX and VTIIX.

Drawdown Indicators

	MXGBX	VTIIX	Difference
Max Drawdown Largest peak-to-trough decline	-45.02%	-15.95%	-29.07%
Max Drawdown (1Y) Largest decline over 1 year	-6.80%	-2.94%	-3.86%
Max Drawdown (3Y) Largest decline over 3 years	-7.25%	-2.94%	-4.31%
Max Drawdown (5Y) Largest decline over 5 years	-24.16%	-15.95%	-8.21%
Max Drawdown (10Y) Largest decline over 10 years	-26.80%	—	—
Current Drawdown Current decline from peak	-34.38%	-0.79%	-33.59%
Average Drawdown Average peak-to-trough decline	-20.62%	-5.99%	-14.63%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.88%	1.08%	+0.80%

Volatility

MXGBX vs. VTIIX - Volatility Comparison

Great-West Global Bond Fund (MXGBX) has a higher volatility of 1.40% compared to Vanguard Total International Bond II Index Fund Investor Class (VTIIX) at 0.96%. This indicates that MXGBX's price experiences larger fluctuations and is considered to be riskier than VTIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXGBX	VTIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.40%	0.96%	+0.44%
Volatility (6M) Calculated over the trailing 6-month period	3.58%	2.74%	+0.84%
Volatility (1Y) Calculated over the trailing 1-year period	9.51%	3.20%	+6.31%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	7.40%	4.54%	+2.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.51%	4.43%	+2.08%

MXGBX vs. VTIIX - Expense Ratio Comparison

MXGBX has a 1.00% expense ratio, which is higher than VTIIX's 0.11% expense ratio.

Dividends

MXGBX vs. VTIIX - Dividend Comparison

MXGBX's dividend yield for the trailing twelve months is around 3.13%, less than VTIIX's 4.28% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
VTIIX Vanguard Total International Bond II Index Fund Investor Class	4.28%	4.21%	4.46%	4.16%	0.89%	0.58%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MXGBX and VTIIX in my portfolio?

MXGBX and VTIIX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MXGBX or VTIIX?

MXGBX has higher volatility (1.40%) compared to VTIIX (0.96%). In terms of maximum drawdown, MXGBX dropped -45.02% vs VTIIX's -15.95%.

Which has better risk-adjusted returns?

VTIIX currently has the higher Sharpe Ratio (0.74 vs -0.03), 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.