MXISX vs. MXFLX

Last updated Jun 24, 2026

MXISX (Great-West S&P Small Cap 600 Index Fund) and MXFLX (Great-West Lifetime 2025 Fund) are both mutual funds - MXISX is a Small Cap Blend Equities fund managed by Great-West, while MXFLX is a Target Retirement Date fund managed by Great-West. Over the past 10 years, MXISX returned 10.46%/yr vs 6.67%/yr for MXFLX. A 0.76 correlation means they provide meaningful diversification when combined. MXISX charges 0.56%/yr vs 0.54%/yr for MXFLX.

Performance

MXISX vs. MXFLX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Great-West S&P Small Cap 600 Index Fund (MXISX) and Great-West Lifetime 2025 Fund (MXFLX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MXISX achieves a 19.44% return, which is significantly higher than MXFLX's 5.77% return. Over the past 10 years, MXISX has outperformed MXFLX with an annualized return of 10.46%, while MXFLX has yielded a comparatively lower 6.67% annualized return.

MXISX

• 1D: 0.00%
• 1M: 4.54%
• YTD: 19.44%
• 6M: 16.99%
• 1Y: 34.44%
• 3Y*: 15.42%
• 5Y*: 5.96%
• 10Y*: 10.46%

MXFLX

• 1D: 0.00%
• 1M: 1.04%
• YTD: 5.77%
• 6M: 5.43%
• 1Y: 13.23%
• 3Y*: 10.26%
• 5Y*: 4.65%
• 10Y*: 6.67%

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

MXISX vs. MXFLX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MXISX Great-West S&P Small Cap 600 Index Fund	19.44%	5.53%	7.87%	14.61%	-16.60%	26.08%	10.73%	21.46%	-9.22%	11.80%
MXFLX Great-West Lifetime 2025 Fund	5.77%	11.57%	7.09%	11.99%	-14.12%	10.22%	11.94%	18.42%	-6.57%	11.28%

Correlation

The correlation between MXISX and MXFLX 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	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.73
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since May 4, 2009	0.76

The correlation between MXISX and MXFLX has been stable across timeframes, ranging from 0.68 to 0.76 - a consistent structural relationship.

Return for Risk

MXISX vs. MXFLX — Risk / Return Rank

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

MXISX

MXISX Risk / Return Rank: 69
MXISX Sharpe Ratio Rank: 60
MXISX Sortino Ratio Rank: 63
MXISX Omega Ratio Rank: 52
MXISX Calmar Ratio Rank: 89
MXISX Martin Ratio Rank: 83

MXFLX

MXFLX Risk / Return Rank: 48
MXFLX Sharpe Ratio Rank: 45
MXFLX Sortino Ratio Rank: 46
MXFLX Omega Ratio Rank: 49
MXFLX Calmar Ratio Rank: 47
MXFLX Martin Ratio Rank: 54

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.

MXISX vs. MXFLX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West S&P Small Cap 600 Index Fund (MXISX) and Great-West Lifetime 2025 Fund (MXFLX). 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.

	MXISX	MXFLX	Difference
Sharpe ratio: Return per unit of total volatility	2.11	1.82	+0.30
Sortino ratio: Return per unit of downside risk	3.03	2.62	+0.41
Omega ratio: Gain probability vs. loss probability	1.36	1.35	+0.01
Calmar ratio: Return relative to maximum drawdown	4.26	2.49	+1.77
Martin ratio: Return relative to average drawdown	14.32	10.31	+4.01

MXISX vs. MXFLX - Sharpe Ratio Comparison

The current MXISX Sharpe Ratio is 2.11, which is comparable to the MXFLX Sharpe Ratio of 1.82. The chart below compares the historical Sharpe Ratios of MXISX and MXFLX, 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

MXISX vs. MXFLX - Drawdown Comparison

The maximum MXISX drawdown since its inception was -70.66%, which is greater than MXFLX's maximum drawdown of -28.46%. Use the drawdown chart below to compare losses from any high point for MXISX and MXFLX.

Drawdown Indicators

	MXISX	MXFLX	Difference
Max Drawdown Largest peak-to-trough decline	-70.66%	-28.46%	-42.20%
Max Drawdown (1Y) Largest decline over 1 year	-8.75%	-5.59%	-3.16%
Max Drawdown (3Y) Largest decline over 3 years	-28.07%	-8.29%	-19.78%
Max Drawdown (5Y) Largest decline over 5 years	-28.07%	-23.50%	-4.57%
Max Drawdown (10Y) Largest decline over 10 years	-44.78%	-23.50%	-21.28%
Current Drawdown Current decline from peak	0.00%	-0.32%	+0.32%
Average Drawdown Average peak-to-trough decline	-21.82%	-7.13%	-14.69%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.58%	1.35%	+1.23%

Volatility

MXISX vs. MXFLX - Volatility Comparison

Great-West S&P Small Cap 600 Index Fund (MXISX) has a higher volatility of 4.89% compared to Great-West Lifetime 2025 Fund (MXFLX) at 2.61%. This indicates that MXISX's price experiences larger fluctuations and is considered to be riskier than MXFLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXISX	MXFLX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.89%	2.61%	+2.28%
Volatility (6M) Calculated over the trailing 6-month period	12.10%	5.79%	+6.31%
Volatility (1Y) Calculated over the trailing 1-year period	17.67%	7.68%	+9.99%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.75%	10.08%	+11.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.86%	10.36%	+13.50%

MXISX vs. MXFLX - Expense Ratio Comparison

MXISX has a 0.56% expense ratio, which is higher than MXFLX's 0.54% expense ratio.

Dividends

MXISX vs. MXFLX - Dividend Comparison

MXISX's dividend yield for the trailing twelve months is around 6.24%, more than MXFLX's 3.74% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MXFLX Great-West Lifetime 2025 Fund	3.74%	3.95%	4.67%	4.22%	7.28%	8.85%	4.06%	7.19%	7.82%	2.97%	0.00%	0.00%
MXISX Great-West S&P Small Cap 600 Index Fund	6.24%	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 MXISX and MXFLX in my portfolio?

MXISX and MXFLX 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, MXISX or MXFLX?

MXISX has higher volatility (4.89%) compared to MXFLX (2.61%). In terms of maximum drawdown, MXISX dropped -70.66% vs MXFLX's -28.46%.

Which has better risk-adjusted returns?

MXISX currently has the higher Sharpe Ratio (2.11 vs 1.82), 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.