MXXIX vs. IVOG

Last updated Jun 24, 2026

MXXIX (Marsico Midcap Growth Focus Fund) and IVOG (Vanguard S&P Mid-Cap 400 Growth ETF) are both funds - MXXIX is a Mid Cap Growth Equities fund managed by Marsico Investment Fund, while IVOG is a Small Cap Growth Equities fund tracking the S&P MidCap 400 Growth Index. Over the past 10 years, MXXIX returned 17.77%/yr vs 11.91%/yr for IVOG. Their correlation of 0.87 suggests significant overlap in exposure. MXXIX charges 1.33%/yr vs 0.15%/yr for IVOG.

Performance

MXXIX vs. IVOG - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Marsico Midcap Growth Focus Fund (MXXIX) and Vanguard S&P Mid-Cap 400 Growth ETF (IVOG). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with MXXIX having a 18.94% return and IVOG slightly lower at 18.76%. Over the past 10 years, MXXIX has outperformed IVOG with an annualized return of 17.77%, while IVOG has yielded a comparatively lower 11.91% annualized return.

MXXIX

• 1D: 0.56%
• 1M: 5.98%
• YTD: 18.94%
• 6M: 16.91%
• 1Y: 30.39%
• 3Y*: 33.39%
• 5Y*: 12.99%
• 10Y*: 17.77%

IVOG

• 1D: -1.58%
• 1M: 2.55%
• YTD: 18.76%
• 6M: 16.00%
• 1Y: 29.76%
• 3Y*: 17.78%
• 5Y*: 8.30%
• 10Y*: 11.91%

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

MXXIX vs. IVOG - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MXXIX Marsico Midcap Growth Focus Fund	18.94%	26.09%	42.95%	21.71%	-31.84%	12.04%	45.34%	29.88%	1.76%	30.05%
IVOG Vanguard S&P Mid-Cap 400 Growth ETF	18.76%	7.34%	15.62%	17.36%	-19.08%	18.85%	22.60%	26.13%	-10.58%	19.90%

Correlation

The correlation between MXXIX and IVOG is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.83
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010	0.87

The correlation between MXXIX and IVOG has been stable across timeframes, ranging from 0.81 to 0.87 - a consistent structural relationship.

Return for Risk

MXXIX vs. IVOG — Risk / Return Rank

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

MXXIX

MXXIX Risk / Return Rank: 39
MXXIX Sharpe Ratio Rank: 35
MXXIX Sortino Ratio Rank: 34
MXXIX Omega Ratio Rank: 31
MXXIX Calmar Ratio Rank: 45
MXXIX Martin Ratio Rank: 47

IVOG

IVOG Risk / Return Rank: 57
IVOG Sharpe Ratio Rank: 51
IVOG Sortino Ratio Rank: 52
IVOG Omega Ratio Rank: 49
IVOG Calmar Ratio Rank: 65
IVOG Martin Ratio Rank: 69

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.

MXXIX vs. IVOG - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Marsico Midcap Growth Focus Fund (MXXIX) and Vanguard S&P Mid-Cap 400 Growth ETF (IVOG). 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.

	MXXIX	IVOG	Difference
Sharpe ratio: Return per unit of total volatility	1.60	1.69	-0.10
Sortino ratio: Return per unit of downside risk	2.26	2.43	-0.17
Omega ratio: Gain probability vs. loss probability	1.27	1.30	-0.02
Calmar ratio: Return relative to maximum drawdown	2.45	3.09	-0.63
Martin ratio: Return relative to average drawdown	9.25	12.01	-2.77

MXXIX vs. IVOG - Sharpe Ratio Comparison

The current MXXIX Sharpe Ratio is 1.60, which is comparable to the IVOG Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of MXXIX and IVOG, 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

MXXIX vs. IVOG - Drawdown Comparison

The maximum MXXIX drawdown since its inception was -62.49%, which is greater than IVOG's maximum drawdown of -39.32%. Use the drawdown chart below to compare losses from any high point for MXXIX and IVOG.

Drawdown Indicators

	MXXIX	IVOG	Difference
Max Drawdown Largest peak-to-trough decline	-62.49%	-39.32%	-23.17%
Max Drawdown (1Y) Largest decline over 1 year	-13.07%	-9.69%	-3.38%
Max Drawdown (3Y) Largest decline over 3 years	-20.05%	-25.61%	+5.56%
Max Drawdown (5Y) Largest decline over 5 years	-40.59%	-29.31%	-11.28%
Max Drawdown (10Y) Largest decline over 10 years	-40.59%	-39.32%	-1.27%
Current Drawdown Current decline from peak	0.00%	-1.58%	+1.58%
Average Drawdown Average peak-to-trough decline	-18.33%	-5.86%	-12.47%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.46%	2.48%	+0.98%

Volatility

MXXIX vs. IVOG - Volatility Comparison

Marsico Midcap Growth Focus Fund (MXXIX) has a higher volatility of 6.73% compared to Vanguard S&P Mid-Cap 400 Growth ETF (IVOG) at 5.83%. This indicates that MXXIX's price experiences larger fluctuations and is considered to be riskier than IVOG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MXXIX	IVOG	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.73%	5.83%	+0.90%
Volatility (6M) Calculated over the trailing 6-month period	16.30%	13.89%	+2.41%
Volatility (1Y) Calculated over the trailing 1-year period	20.14%	17.69%	+2.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.91%	20.70%	+2.21%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.88%	20.61%	+1.27%

MXXIX vs. IVOG - Expense Ratio Comparison

MXXIX has a 1.33% expense ratio, which is higher than IVOG's 0.15% expense ratio.

Dividends

MXXIX vs. IVOG - Dividend Comparison

MXXIX's dividend yield for the trailing twelve months is around 10.04%, more than IVOG's 0.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
IVOG Vanguard S&P Mid-Cap 400 Growth ETF	0.54%	0.64%	0.79%	1.15%	1.05%	0.47%	0.74%	1.17%	1.01%	0.93%	1.11%	1.04%
MXXIX Marsico Midcap Growth Focus Fund	10.04%	11.95%	9.18%	1.24%	0.00%	14.22%	2.83%	3.26%	5.37%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MXXIX and IVOG in my portfolio?

MXXIX and IVOG have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MXXIX or IVOG?

MXXIX has higher volatility (6.73%) compared to IVOG (5.83%). In terms of maximum drawdown, MXXIX dropped -62.49% vs IVOG's -39.32%.

Which has better risk-adjusted returns?

IVOG currently has the higher Sharpe Ratio (1.69 vs 1.59), 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.