MXIHX vs. FIPDX

Last updated Jun 6, 2026

MXIHX (Great-West Inflation-Protected Securities Fund) and FIPDX (Fidelity Inflation-Protected Bond Index Fund) are both Inflation-Protected Bonds funds. Over the past 5 years, MXIHX returned 1.74%/yr vs 1.11%/yr for FIPDX. Their correlation of 0.84 suggests significant overlap in exposure. MXIHX charges 0.70%/yr vs 0.05%/yr for FIPDX.

Performance

MXIHX vs. FIPDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Great-West Inflation-Protected Securities Fund (MXIHX) and Fidelity Inflation-Protected Bond Index Fund (FIPDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MXIHX achieves a 1.20% return, which is significantly lower than FIPDX's 1.55% return.

MXIHX

• 1D: 0.00%
• 1M: -0.11%
• YTD: 1.20%
• 6M: 1.20%
• 1Y: 4.51%
• 3Y*: 4.44%
• 5Y*: 1.74%
• 10Y*: —

FIPDX

• 1D: 0.00%
• 1M: 0.11%
• YTD: 1.55%
• 6M: 1.44%
• 1Y: 5.58%
• 3Y*: 4.00%
• 5Y*: 1.11%
• 10Y*: 2.66%

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

MXIHX vs. FIPDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MXIHX Great-West Inflation-Protected Securities Fund	1.20%	6.75%	2.80%	4.76%	-8.95%	4.96%	7.36%	6.35%	-1.22%
FIPDX Fidelity Inflation-Protected Bond Index Fund	1.55%	6.90%	2.00%	3.77%	-12.09%	5.94%	10.90%	8.32%	-1.17%

Correlation

The correlation between MXIHX and FIPDX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.84
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (All Time) Calculated using the full available price history since Jan 5, 2018	0.84

The correlation between MXIHX and FIPDX has been stable across timeframes, ranging from 0.82 to 0.86 - a consistent structural relationship.

Return for Risk

MXIHX vs. FIPDX — Risk / Return Rank

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

MXIHX

MXIHX Risk / Return Rank: 38
MXIHX Sharpe Ratio Rank: 34
MXIHX Sortino Ratio Rank: 38
MXIHX Omega Ratio Rank: 37
MXIHX Calmar Ratio Rank: 37
MXIHX Martin Ratio Rank: 44

FIPDX

FIPDX Risk / Return Rank: 32
FIPDX Sharpe Ratio Rank: 27
FIPDX Sortino Ratio Rank: 29
FIPDX Omega Ratio Rank: 27
FIPDX Calmar Ratio Rank: 45
FIPDX Martin Ratio Rank: 34

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.

MXIHX vs. FIPDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West Inflation-Protected Securities Fund (MXIHX) and Fidelity Inflation-Protected Bond Index Fund (FIPDX). 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.

	MXIHX	FIPDX	Difference
Sharpe ratio: Return per unit of total volatility	1.61	1.43	+0.18
Sortino ratio: Return per unit of downside risk	2.50	2.15	+0.35
Omega ratio: Gain probability vs. loss probability	1.31	1.26	+0.05
Calmar ratio: Return relative to maximum drawdown	2.20	2.47	-0.27
Martin ratio: Return relative to average drawdown	9.15	7.29	+1.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MXIHX vs. FIPDX - Sharpe Ratio Comparison

The current MXIHX Sharpe Ratio is 1.61, which is comparable to the FIPDX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of MXIHX and FIPDX, 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

	MXIHX	FIPDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.61	1.43	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	0.19	+0.18
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.50	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.41	+0.22

Drawdowns

MXIHX vs. FIPDX - Drawdown Comparison

The maximum MXIHX drawdown since its inception was -11.51%, smaller than the maximum FIPDX drawdown of -14.32%. Use the drawdown chart below to compare losses from any high point for MXIHX and FIPDX.

Drawdown Indicators

	MXIHX	FIPDX	Difference
Max Drawdown Largest peak-to-trough decline	-11.51%	-14.32%	+2.81%
Max Drawdown (1Y) Largest decline over 1 year	-2.04%	-1.94%	-0.10%
Max Drawdown (3Y) Largest decline over 3 years	-2.86%	-4.49%	+1.63%
Max Drawdown (5Y) Largest decline over 5 years	-11.51%	-14.32%	+2.81%
Max Drawdown (10Y) Largest decline over 10 years	—	-14.32%	—
Current Drawdown Current decline from peak	-0.32%	-0.22%	-0.10%
Average Drawdown Average peak-to-trough decline	-2.42%	-4.47%	+2.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.48%	0.66%	-0.18%

Volatility

MXIHX vs. FIPDX - Volatility Comparison

Great-West Inflation-Protected Securities Fund (MXIHX) and Fidelity Inflation-Protected Bond Index Fund (FIPDX) have volatilities of 0.88% and 0.90%, 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

	MXIHX	FIPDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.88%	0.90%	-0.02%
Volatility (6M) Calculated over the trailing 6-month period	1.98%	2.28%	-0.30%
Volatility (1Y) Calculated over the trailing 1-year period	2.80%	3.36%	-0.56%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.85%	5.97%	-1.12%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.37%	5.37%	-1.00%

MXIHX vs. FIPDX - Expense Ratio Comparison

MXIHX has a 0.70% expense ratio, which is higher than FIPDX's 0.05% expense ratio.

Dividends

MXIHX vs. FIPDX - Dividend Comparison

MXIHX's dividend yield for the trailing twelve months is around 3.57%, less than FIPDX's 3.79% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FIPDX Fidelity Inflation-Protected Bond Index Fund	3.79%	4.18%	3.75%	3.56%	8.87%	4.76%	1.24%	1.97%	2.26%	1.29%	1.34%	0.38%
MXIHX Great-West Inflation-Protected Securities Fund	3.57%	3.61%	3.60%	4.22%	8.49%	3.05%	2.01%	1.51%	4.31%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MXIHX and FIPDX in my portfolio?

MXIHX and FIPDX have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MXIHX or FIPDX?

FIPDX has higher volatility (0.90%) compared to MXIHX (0.88%). In terms of maximum drawdown, MXIHX dropped -11.51% vs FIPDX's -14.32%.

Which has better risk-adjusted returns?

MXIHX currently has the higher Sharpe Ratio (1.61 vs 1.43), 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.