MXIVX vs. SHSAX

Last updated Jun 23, 2026

MXIVX (Great-West International Value Fund) and SHSAX (BlackRock Health Sciences Opportunities Portfolio) are both mutual funds - MXIVX is a Foreign Large Cap Equities fund managed by Great-West, while SHSAX is a Health & Biotech Equities fund managed by BlackRock. Over the past 10 years, MXIVX returned 9.26%/yr vs 9.67%/yr for SHSAX. A 0.55 correlation means they provide meaningful diversification when combined. MXIVX charges 1.07%/yr vs 1.09%/yr for SHSAX.

Performance

MXIVX vs. SHSAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Great-West International Value Fund (MXIVX) and BlackRock Health Sciences Opportunities Portfolio (SHSAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MXIVX achieves a 8.32% return, which is significantly higher than SHSAX's -2.94% return. Both investments have delivered pretty close results over the past 10 years, with MXIVX having a 9.26% annualized return and SHSAX not far ahead at 9.67%.

MXIVX

• 1D: -0.41%
• 1M: 0.70%
• YTD: 8.32%
• 6M: 8.42%
• 1Y: 25.52%
• 3Y*: 18.60%
• 5Y*: 10.27%
• 10Y*: 9.26%

SHSAX

• 1D: -0.65%
• 1M: 0.38%
• YTD: -2.94%
• 6M: -3.69%
• 1Y: 16.32%
• 3Y*: 6.12%
• 5Y*: 3.78%
• 10Y*: 9.67%

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

MXIVX vs. SHSAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MXIVX Great-West International Value Fund	8.32%	39.08%	5.46%	18.05%	-15.20%	10.38%	10.20%	22.07%	-15.68%	25.12%
SHSAX BlackRock Health Sciences Opportunities Portfolio	-2.94%	15.85%	3.73%	3.59%	-5.94%	11.88%	19.44%	25.27%	7.93%	24.74%

Correlation

The correlation between MXIVX and SHSAX is 0.47, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.47
Correlation (3Y) Calculated over the trailing 3-year period	0.44
Correlation (5Y) Calculated over the trailing 5-year period	0.52
Correlation (10Y) Calculated over the trailing 10-year period	0.57
Correlation (All Time) Calculated using the full available price history since Jan 3, 2000	0.55

The correlation between MXIVX and SHSAX shifts across timeframes, from 0.44 (3 years) to 0.57 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

MXIVX vs. SHSAX — Risk / Return Rank

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

MXIVX

MXIVX Risk / Return Rank: 44
MXIVX Sharpe Ratio Rank: 47
MXIVX Sortino Ratio Rank: 45
MXIVX Omega Ratio Rank: 45
MXIVX Calmar Ratio Rank: 39
MXIVX Martin Ratio Rank: 41

SHSAX

SHSAX Risk / Return Rank: 18
SHSAX Sharpe Ratio Rank: 18
SHSAX Sortino Ratio Rank: 20
SHSAX Omega Ratio Rank: 17
SHSAX Calmar Ratio Rank: 22
SHSAX Martin Ratio Rank: 15

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.

MXIVX vs. SHSAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West International Value Fund (MXIVX) and BlackRock Health Sciences Opportunities Portfolio (SHSAX). 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.

	MXIVX	SHSAX	Difference
Sharpe ratio: Return per unit of total volatility	1.87	1.13	+0.74
Sortino ratio: Return per unit of downside risk	2.60	1.76	+0.85
Omega ratio: Gain probability vs. loss probability	1.34	1.20	+0.14
Calmar ratio: Return relative to maximum drawdown	2.28	1.62	+0.66
Martin ratio: Return relative to average drawdown	8.42	3.91	+4.51

MXIVX vs. SHSAX - Sharpe Ratio Comparison

The current MXIVX Sharpe Ratio is 1.87, which is higher than the SHSAX Sharpe Ratio of 1.13. The chart below compares the historical Sharpe Ratios of MXIVX and SHSAX, 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

MXIVX vs. SHSAX - Drawdown Comparison

The maximum MXIVX drawdown since its inception was -76.77%, which is greater than SHSAX's maximum drawdown of -35.49%. Use the drawdown chart below to compare losses from any high point for MXIVX and SHSAX.

Drawdown Indicators

	MXIVX	SHSAX	Difference
Max Drawdown Largest peak-to-trough decline	-76.77%	-35.49%	-41.28%
Max Drawdown (1Y) Largest decline over 1 year	-11.65%	-9.87%	-1.78%
Max Drawdown (3Y) Largest decline over 3 years	-13.63%	-16.08%	+2.45%
Max Drawdown (5Y) Largest decline over 5 years	-29.13%	-17.99%	-11.14%
Max Drawdown (10Y) Largest decline over 10 years	-33.18%	-28.36%	-4.82%
Current Drawdown Current decline from peak	-1.83%	-5.73%	+3.90%
Average Drawdown Average peak-to-trough decline	-22.16%	-6.17%	-15.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.11%	4.08%	-0.97%

Volatility

MXIVX vs. SHSAX - Volatility Comparison

The current volatility for Great-West International Value Fund (MXIVX) is 4.26%, while BlackRock Health Sciences Opportunities Portfolio (SHSAX) has a volatility of 4.95%. This indicates that MXIVX experiences smaller price fluctuations and is considered to be less risky than SHSAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXIVX	SHSAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.26%	4.95%	-0.69%
Volatility (6M) Calculated over the trailing 6-month period	11.40%	10.65%	+0.75%
Volatility (1Y) Calculated over the trailing 1-year period	14.21%	14.14%	+0.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.07%	14.44%	+1.63%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.41%	16.56%	+2.85%

MXIVX vs. SHSAX - Expense Ratio Comparison

MXIVX has a 1.07% expense ratio, which is lower than SHSAX's 1.09% expense ratio.

Dividends

MXIVX vs. SHSAX - Dividend Comparison

MXIVX's dividend yield for the trailing twelve months is around 5.50%, less than SHSAX's 10.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MXIVX Great-West International Value Fund	5.50%	5.96%	4.97%	3.27%	2.99%	4.27%	1.99%	2.42%	27.79%	2.85%	0.00%	0.00%
SHSAX BlackRock Health Sciences Opportunities Portfolio	10.96%	10.63%	9.18%	3.84%	7.44%	9.20%	4.34%	3.89%	8.56%	3.53%	2.43%	12.58%

Frequently Asked Questions

Can I hold both MXIVX and SHSAX in my portfolio?

MXIVX and SHSAX have a correlation of 0.47, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MXIVX or SHSAX?

SHSAX has higher volatility (4.95%) compared to MXIVX (4.26%). In terms of maximum drawdown, MXIVX dropped -76.77% vs SHSAX's -35.49%.

Which has better risk-adjusted returns?

MXIVX currently has the higher Sharpe Ratio (1.87 vs 1.13), 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.