MXHYX vs. MXMDX

Last updated Jun 5, 2026

MXHYX (Great-West High Yield Bond Fund) and MXMDX (Great-West S&P Mid Cap 400 Index Fund) are both mutual funds - MXHYX is a High Yield Bonds fund managed by Great-West, while MXMDX is a Mid Cap Blend Equities fund managed by Great-West. Over the past 10 years, MXHYX returned 4.87%/yr vs 10.09%/yr for MXMDX. A 0.59 correlation means they provide meaningful diversification when combined. MXHYX charges 1.08%/yr vs 0.55%/yr for MXMDX.

Performance

MXHYX vs. MXMDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Great-West High Yield Bond Fund (MXHYX) and Great-West S&P Mid Cap 400 Index Fund (MXMDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MXHYX achieves a 5.93% return, which is significantly lower than MXMDX's 13.81% return. Over the past 10 years, MXHYX has underperformed MXMDX with an annualized return of 4.87%, while MXMDX has yielded a comparatively higher 10.09% annualized return.

MXHYX

• 1D: -0.35%
• 1M: 1.18%
• YTD: 5.93%
• 6M: 6.25%
• 1Y: 11.82%
• 3Y*: 10.08%
• 5Y*: 4.42%
• 10Y*: 4.87%

MXMDX

• 1D: -0.12%
• 1M: 2.43%
• YTD: 13.81%
• 6M: 13.44%
• 1Y: 25.06%
• 3Y*: 15.45%
• 5Y*: 7.58%
• 10Y*: 10.09%

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

MXHYX vs. MXMDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MXHYX Great-West High Yield Bond Fund	5.93%	8.95%	7.64%	11.14%	-11.80%	3.65%	10.77%	14.40%	-3.79%	3.63%
MXMDX Great-West S&P Mid Cap 400 Index Fund	13.81%	6.90%	13.23%	15.75%	-13.60%	24.25%	12.84%	25.48%	-12.02%	15.01%

Correlation

The correlation between MXHYX and MXMDX is 0.75, 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	0.75
Correlation (3Y) Calculated over the trailing 3-year period	0.74
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.66
Correlation (All Time) Calculated using the full available price history since Jan 21, 2011	0.59

The correlation between MXHYX and MXMDX shifts across timeframes, from 0.59 (all time) to 0.75 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MXHYX vs. MXMDX — Risk / Return Rank

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

MXHYX

MXHYX Risk / Return Rank: 85
MXHYX Sharpe Ratio Rank: 83
MXHYX Sortino Ratio Rank: 82
MXHYX Omega Ratio Rank: 82
MXHYX Calmar Ratio Rank: 86
MXHYX Martin Ratio Rank: 91

MXMDX

MXMDX Risk / Return Rank: 44
MXMDX Sharpe Ratio Rank: 36
MXMDX Sortino Ratio Rank: 36
MXMDX Omega Ratio Rank: 34
MXMDX Calmar Ratio Rank: 59
MXMDX Martin Ratio Rank: 52

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.

MXHYX vs. MXMDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West High Yield Bond Fund (MXHYX) and Great-West S&P Mid Cap 400 Index Fund (MXMDX). 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.

	MXHYX	MXMDX	Difference
Sharpe ratio: Return per unit of total volatility	2.66	1.71	+0.95
Sortino ratio: Return per unit of downside risk	3.88	2.49	+1.39
Omega ratio: Gain probability vs. loss probability	1.54	1.30	+0.23
Calmar ratio: Return relative to maximum drawdown	4.04	2.94	+1.10
Martin ratio: Return relative to average drawdown	17.99	10.52	+7.47
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MXHYX vs. MXMDX - Sharpe Ratio Comparison

The current MXHYX Sharpe Ratio is 2.66, which is higher than the MXMDX Sharpe Ratio of 1.71. The chart below compares the historical Sharpe Ratios of MXHYX and MXMDX, 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

	MXHYX	MXMDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.66	1.71	+0.95
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.78	0.39	+0.40
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.79	0.48	+0.31
Sharpe Ratio (All Time) Calculated using the full available price history	0.16	0.45	-0.29

Drawdowns

MXHYX vs. MXMDX - Drawdown Comparison

The maximum MXHYX drawdown since its inception was -53.32%, which is greater than MXMDX's maximum drawdown of -41.80%. Use the drawdown chart below to compare losses from any high point for MXHYX and MXMDX.

Drawdown Indicators

	MXHYX	MXMDX	Difference
Max Drawdown Largest peak-to-trough decline	-53.32%	-41.80%	-11.52%
Max Drawdown (1Y) Largest decline over 1 year	-3.14%	-8.87%	+5.73%
Max Drawdown (3Y) Largest decline over 3 years	-5.28%	-24.15%	+18.87%
Max Drawdown (5Y) Largest decline over 5 years	-16.23%	-24.15%	+7.92%
Max Drawdown (10Y) Largest decline over 10 years	-21.28%	-41.80%	+20.52%
Current Drawdown Current decline from peak	-0.35%	-0.12%	-0.23%
Average Drawdown Average peak-to-trough decline	-16.49%	-5.95%	-10.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.69%	2.47%	-1.78%

Volatility

MXHYX vs. MXMDX - Volatility Comparison

The current volatility for Great-West High Yield Bond Fund (MXHYX) is 1.83%, while Great-West S&P Mid Cap 400 Index Fund (MXMDX) has a volatility of 4.37%. This indicates that MXHYX experiences smaller price fluctuations and is considered to be less risky than MXMDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXHYX	MXMDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.83%	4.37%	-2.54%
Volatility (6M) Calculated over the trailing 6-month period	3.93%	11.28%	-7.35%
Volatility (1Y) Calculated over the trailing 1-year period	4.77%	15.28%	-10.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.74%	19.99%	-14.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.20%	21.22%	-15.02%

MXHYX vs. MXMDX - Expense Ratio Comparison

MXHYX has a 1.08% expense ratio, which is higher than MXMDX's 0.55% expense ratio.

Dividends

MXHYX vs. MXMDX - Dividend Comparison

MXHYX's dividend yield for the trailing twelve months is around 4.39%, less than MXMDX's 5.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
MXHYX Great-West High Yield Bond Fund	4.39%	4.65%	4.19%	5.45%	3.46%	3.14%	3.66%	5.37%	8.16%	3.37%
MXMDX Great-West S&P Mid Cap 400 Index Fund	5.85%	6.66%	3.04%	4.76%	4.35%	5.24%	5.74%	3.74%	8.13%	4.51%

Frequently Asked Questions

Can I hold both MXHYX and MXMDX in my portfolio?

MXHYX and MXMDX have a correlation of 0.75, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MXHYX or MXMDX?

MXMDX has higher volatility (4.37%) compared to MXHYX (1.83%). In terms of maximum drawdown, MXHYX dropped -53.32% vs MXMDX's -41.80%.

Which has better risk-adjusted returns?

MXHYX currently has the higher Sharpe Ratio (2.66 vs 1.71), 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.