MXIGX vs. MXINX

Last updated Jun 3, 2026

MXIGX (Great-West International Growth Fund) and MXINX (Great-West International Index Fund) are both Foreign Large Cap Equities funds from Great-West. Over the past 10 years, MXIGX returned 6.50%/yr vs 8.58%/yr for MXINX. Their correlation of 0.93 suggests significant overlap in exposure. MXIGX charges 1.20%/yr vs 0.65%/yr for MXINX.

Performance

MXIGX vs. MXINX - Performance Comparison

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

Returns By Period

In the year-to-date period, MXIGX achieves a 3.28% return, which is significantly lower than MXINX's 9.45% return. Over the past 10 years, MXIGX has underperformed MXINX with an annualized return of 6.50%, while MXINX has yielded a comparatively higher 8.58% annualized return.

MXIGX

• 1D: 0.64%
• 1M: 3.28%
• YTD: 3.28%
• 6M: 4.08%
• 1Y: 4.80%
• 3Y*: 6.84%
• 5Y*: -0.33%
• 10Y*: 6.50%

MXINX

• 1D: 0.29%
• 1M: 4.10%
• YTD: 9.45%
• 6M: 11.85%
• 1Y: 21.92%
• 3Y*: 16.46%
• 5Y*: 8.21%
• 10Y*: 8.58%

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

MXIGX vs. MXINX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MXIGX Great-West International Growth Fund	3.28%	11.53%	4.04%	16.54%	-30.35%	5.59%	28.93%	34.07%	-16.91%	26.64%
MXINX Great-West International Index Fund	9.45%	30.90%	2.92%	17.56%	-14.75%	10.32%	7.97%	21.26%	-13.93%	24.73%

Correlation

The correlation between MXIGX and MXINX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.94
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Jan 14, 2011	0.93

The correlation between MXIGX and MXINX has been stable across timeframes, ranging from 0.91 to 0.94 - a consistent structural relationship.

Return for Risk

MXIGX vs. MXINX — Risk / Return Rank

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

MXIGX

MXIGX Risk / Return Rank: 6
MXIGX Sharpe Ratio Rank: 5
MXIGX Sortino Ratio Rank: 5
MXIGX Omega Ratio Rank: 5
MXIGX Calmar Ratio Rank: 6
MXIGX Martin Ratio Rank: 7

MXINX

MXINX Risk / Return Rank: 27
MXINX Sharpe Ratio Rank: 25
MXINX Sortino Ratio Rank: 24
MXINX Omega Ratio Rank: 25
MXINX Calmar Ratio Rank: 27
MXINX Martin Ratio Rank: 31

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.

MXIGX vs. MXINX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West International Growth Fund (MXIGX) and Great-West International Index Fund (MXINX). 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.

	MXIGX	MXINX	Difference
Sharpe ratio Return per unit of total volatility	0.37	1.43	-1.06
Sortino ratio Return per unit of downside risk	0.64	2.06	-1.42
Omega ratio Gain probability vs. loss probability	1.08	1.26	-0.18
Calmar ratio Return relative to maximum drawdown	0.63	1.93	-1.30
Martin ratio Return relative to average drawdown	2.16	7.19	-5.03
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MXIGX vs. MXINX - Sharpe Ratio Comparison

The current MXIGX Sharpe Ratio is 0.37, which is lower than the MXINX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of MXIGX and MXINX, 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

	MXIGX	MXINX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.37	1.43	-1.06
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.02	0.50	-0.51
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.34	0.51	-0.17
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.32	-0.18

Drawdowns

MXIGX vs. MXINX - Drawdown Comparison

The maximum MXIGX drawdown since its inception was -66.36%, which is greater than MXINX's maximum drawdown of -34.59%. Use the drawdown chart below to compare losses from any high point for MXIGX and MXINX.

Drawdown Indicators

	MXIGX	MXINX	Difference
Max Drawdown Largest peak-to-trough decline	-66.36%	-34.59%	-31.77%
Max Drawdown (1Y) Largest decline over 1 year	-13.47%	-11.43%	-2.04%
Max Drawdown (3Y) Largest decline over 3 years	-17.25%	-13.70%	-3.55%
Max Drawdown (5Y) Largest decline over 5 years	-43.70%	-29.75%	-13.95%
Max Drawdown (10Y) Largest decline over 10 years	-43.70%	-34.59%	-9.11%
Current Drawdown Current decline from peak	-9.07%	-0.46%	-8.61%
Average Drawdown Average peak-to-trough decline	-24.35%	-8.58%	-15.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.92%	3.00%	+0.92%

Volatility

MXIGX vs. MXINX - Volatility Comparison

Great-West International Growth Fund (MXIGX) and Great-West International Index Fund (MXINX) have volatilities of 4.53% and 4.73%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXIGX	MXINX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.53%	4.73%	-0.20%
Volatility (6M) Calculated over the trailing 6-month period	12.83%	12.39%	+0.44%
Volatility (1Y) Calculated over the trailing 1-year period	15.72%	15.46%	+0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.66%	16.80%	+2.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.55%	17.02%	+2.53%

MXIGX vs. MXINX - Expense Ratio Comparison

MXIGX has a 1.20% expense ratio, which is higher than MXINX's 0.65% expense ratio.

Dividends

MXIGX vs. MXINX - Dividend Comparison

MXIGX's dividend yield for the trailing twelve months is around 4.96%, more than MXINX's 3.05% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
MXIGX Great-West International Growth Fund	4.96%	5.13%	2.80%	0.00%	1.29%	7.13%	0.88%	0.20%	13.16%	3.77%
MXINX Great-West International Index Fund	3.05%	3.34%	2.20%	4.38%	1.80%	5.73%	2.45%	2.64%	3.55%	2.63%

Frequently Asked Questions

Can I hold both MXIGX and MXINX in my portfolio?

With a correlation of 0.94, MXIGX and MXINX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MXIGX or MXINX?

MXINX has higher volatility (4.73%) compared to MXIGX (4.53%). In terms of maximum drawdown, MXIGX dropped -66.36% vs MXINX's -34.59%.

Which has better risk-adjusted returns?

MXINX currently has the higher Sharpe Ratio (1.43 vs 0.37), 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.