MXMGX vs. MXISX

Last updated Jun 3, 2026

MXMGX (Great-West T. Rowe Price Mid Cap Growth Fund) and MXISX (Great-West S&P Small Cap 600 Index Fund) are both mutual funds - MXMGX is a Mid Cap Growth Equities fund managed by T. Rowe Price, while MXISX is a Small Cap Blend Equities fund managed by Great-West. Over the past 10 years, MXMGX returned 9.03%/yr vs 9.78%/yr for MXISX. Their correlation of 0.85 suggests significant overlap in exposure. MXMGX charges 1.02%/yr vs 0.56%/yr for MXISX.

Performance

MXMGX vs. MXISX - Performance Comparison

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

Returns By Period

In the year-to-date period, MXMGX achieves a 2.33% return, which is significantly lower than MXISX's 15.03% return. Over the past 10 years, MXMGX has underperformed MXISX with an annualized return of 9.03%, while MXISX has yielded a comparatively higher 9.78% annualized return.

MXMGX

• 1D: 0.00%
• 1M: 1.30%
• YTD: 2.33%
• 6M: 2.71%
• 1Y: 8.62%
• 3Y*: 8.35%
• 5Y*: 2.91%
• 10Y*: 9.03%

MXISX

• 1D: -0.20%
• 1M: 0.61%
• YTD: 15.03%
• 6M: 15.47%
• 1Y: 32.93%
• 3Y*: 13.50%
• 5Y*: 4.81%
• 10Y*: 9.78%

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

MXMGX vs. MXISX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MXMGX Great-West T. Rowe Price Mid Cap Growth Fund	2.33%	2.99%	9.02%	19.61%	-22.82%	15.25%	23.65%	31.28%	-2.80%	23.89%
MXISX Great-West S&P Small Cap 600 Index Fund	15.03%	5.53%	7.87%	14.61%	-16.60%	26.08%	10.73%	21.46%	-9.22%	11.80%

Correlation

The correlation between MXMGX and MXISX is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.86
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jul 2, 1997	0.85

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

Return for Risk

MXMGX vs. MXISX — Risk / Return Rank

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

MXMGX

MXMGX Risk / Return Rank: 8
MXMGX Sharpe Ratio Rank: 8
MXMGX Sortino Ratio Rank: 9
MXMGX Omega Ratio Rank: 8
MXMGX Calmar Ratio Rank: 7
MXMGX Martin Ratio Rank: 8

MXISX

MXISX Risk / Return Rank: 52
MXISX Sharpe Ratio Rank: 43
MXISX Sortino Ratio Rank: 45
MXISX Omega Ratio Rank: 39
MXISX Calmar Ratio Rank: 75
MXISX Martin Ratio Rank: 56

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.

MXMGX vs. MXISX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Great-West T. Rowe Price Mid Cap Growth Fund (MXMGX) and Great-West S&P Small Cap 600 Index Fund (MXISX). 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.

	MXMGX	MXISX	Difference
Sharpe ratio Return per unit of total volatility	0.71	1.93	-1.22
Sortino ratio Return per unit of downside risk	1.11	2.81	-1.70
Omega ratio Gain probability vs. loss probability	1.13	1.34	-0.21
Calmar ratio Return relative to maximum drawdown	0.75	3.42	-2.66
Martin ratio Return relative to average drawdown	2.58	11.42	-8.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MXMGX vs. MXISX - Sharpe Ratio Comparison

The current MXMGX Sharpe Ratio is 0.71, which is lower than the MXISX Sharpe Ratio of 1.93. The chart below compares the historical Sharpe Ratios of MXMGX and MXISX, 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

	MXMGX	MXISX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.71	1.93	-1.22
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.16	0.23	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.48	0.41	+0.07
Sharpe Ratio (All Time) Calculated using the full available price history	0.29	0.21	+0.08

Drawdowns

MXMGX vs. MXISX - Drawdown Comparison

The maximum MXMGX drawdown since its inception was -60.97%, smaller than the maximum MXISX drawdown of -70.66%. Use the drawdown chart below to compare losses from any high point for MXMGX and MXISX.

Drawdown Indicators

	MXMGX	MXISX	Difference
Max Drawdown Largest peak-to-trough decline	-60.97%	-70.66%	+9.69%
Max Drawdown (1Y) Largest decline over 1 year	-10.29%	-8.75%	-1.54%
Max Drawdown (3Y) Largest decline over 3 years	-23.17%	-28.07%	+4.90%
Max Drawdown (5Y) Largest decline over 5 years	-32.33%	-28.07%	-4.26%
Max Drawdown (10Y) Largest decline over 10 years	-35.88%	-44.78%	+8.90%
Current Drawdown Current decline from peak	-1.54%	-0.93%	-0.61%
Average Drawdown Average peak-to-trough decline	-11.80%	-21.86%	+10.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.00%	2.62%	+0.38%

Volatility

MXMGX vs. MXISX - Volatility Comparison

The current volatility for Great-West T. Rowe Price Mid Cap Growth Fund (MXMGX) is 3.38%, while Great-West S&P Small Cap 600 Index Fund (MXISX) has a volatility of 4.46%. This indicates that MXMGX experiences smaller price fluctuations and is considered to be less risky than MXISX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXMGX	MXISX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.38%	4.46%	-1.08%
Volatility (6M) Calculated over the trailing 6-month period	10.19%	11.67%	-1.48%
Volatility (1Y) Calculated over the trailing 1-year period	13.35%	17.50%	-4.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.00%	21.74%	-2.74%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.95%	23.85%	-4.90%

MXMGX vs. MXISX - Expense Ratio Comparison

MXMGX has a 1.02% expense ratio, which is higher than MXISX's 0.56% expense ratio.

Dividends

MXMGX vs. MXISX - Dividend Comparison

MXMGX's dividend yield for the trailing twelve months is around 1.64%, less than MXISX's 6.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MXISX Great-West S&P Small Cap 600 Index Fund	6.48%	7.45%	4.53%	2.41%	6.55%	10.79%	6.55%	6.71%	14.30%	8.68%	4.94%	10.96%
MXMGX Great-West T. Rowe Price Mid Cap Growth Fund	1.64%	1.68%	3.66%	2.39%	2.66%	4.92%	2.74%	2.19%	6.13%	4.53%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MXMGX and MXISX in my portfolio?

MXMGX and MXISX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MXMGX or MXISX?

MXISX has higher volatility (4.46%) compared to MXMGX (3.38%). In terms of maximum drawdown, MXMGX dropped -60.97% vs MXISX's -70.66%.

Which has better risk-adjusted returns?

MXISX currently has the higher Sharpe Ratio (1.93 vs 0.71), 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.