NDVAX vs. PMJIX

Last updated Jun 6, 2026

NDVAX (MFS New Discovery Value Fund Class A) and PMJIX (PIMCO RAE US Small Fund) are both Small Cap Value Equities funds. Over the past 10 years, NDVAX returned 10.21%/yr vs 13.74%/yr for PMJIX. Their correlation of 0.93 suggests significant overlap in exposure. NDVAX charges 1.21%/yr vs 0.50%/yr for PMJIX.

Performance

NDVAX vs. PMJIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS New Discovery Value Fund Class A (NDVAX) and PIMCO RAE US Small Fund (PMJIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NDVAX achieves a 9.45% return, which is significantly lower than PMJIX's 19.95% return. Over the past 10 years, NDVAX has underperformed PMJIX with an annualized return of 10.21%, while PMJIX has yielded a comparatively higher 13.74% annualized return.

NDVAX

• 1D: 1.22%
• 1M: -1.36%
• YTD: 9.45%
• 6M: 9.00%
• 1Y: 19.44%
• 3Y*: 11.26%
• 5Y*: 4.66%
• 10Y*: 10.21%

PMJIX

• 1D: 0.94%
• 1M: 5.36%
• YTD: 19.95%
• 6M: 17.43%
• 1Y: 38.21%
• 3Y*: 23.37%
• 5Y*: 11.32%
• 10Y*: 13.74%

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

NDVAX vs. PMJIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NDVAX MFS New Discovery Value Fund Class A	9.45%	2.16%	9.07%	10.92%	-11.02%	33.30%	5.44%	33.31%	-11.40%	14.62%
PMJIX PIMCO RAE US Small Fund	19.95%	5.11%	22.05%	19.77%	-4.62%	39.15%	6.95%	20.22%	-11.69%	9.22%

Correlation

The correlation between NDVAX and PMJIX is 0.90, 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	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Jun 8, 2015	0.93

The correlation between NDVAX and PMJIX has been stable across timeframes, ranging from 0.90 to 0.93 - a consistent structural relationship.

Return for Risk

NDVAX vs. PMJIX — Risk / Return Rank

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

NDVAX

NDVAX Risk / Return Rank: 22
NDVAX Sharpe Ratio Rank: 19
NDVAX Sortino Ratio Rank: 20
NDVAX Omega Ratio Rank: 18
NDVAX Calmar Ratio Rank: 26
NDVAX Martin Ratio Rank: 25

PMJIX

PMJIX Risk / Return Rank: 69
PMJIX Sharpe Ratio Rank: 61
PMJIX Sortino Ratio Rank: 59
PMJIX Omega Ratio Rank: 51
PMJIX Calmar Ratio Rank: 93
PMJIX Martin Ratio Rank: 82

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.

NDVAX vs. PMJIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS New Discovery Value Fund Class A (NDVAX) and PIMCO RAE US Small Fund (PMJIX). 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.

	NDVAX	PMJIX	Difference
Sharpe ratio: Return per unit of total volatility	1.18	2.22	-1.04
Sortino ratio: Return per unit of downside risk	1.79	3.13	-1.34
Omega ratio: Gain probability vs. loss probability	1.21	1.38	-0.16
Calmar ratio: Return relative to maximum drawdown	1.78	4.99	-3.21
Martin ratio: Return relative to average drawdown	5.72	14.81	-9.09
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

NDVAX vs. PMJIX - Sharpe Ratio Comparison

The current NDVAX Sharpe Ratio is 1.18, which is lower than the PMJIX Sharpe Ratio of 2.22. The chart below compares the historical Sharpe Ratios of NDVAX and PMJIX, 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

	NDVAX	PMJIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.18	2.22	-1.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.23	0.29	-0.06
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.47	0.42	+0.05
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	0.38	+0.12

Drawdowns

NDVAX vs. PMJIX - Drawdown Comparison

The maximum NDVAX drawdown since its inception was -44.06%, smaller than the maximum PMJIX drawdown of -49.75%. Use the drawdown chart below to compare losses from any high point for NDVAX and PMJIX.

Drawdown Indicators

	NDVAX	PMJIX	Difference
Max Drawdown Largest peak-to-trough decline	-44.06%	-49.75%	+5.69%
Max Drawdown (1Y) Largest decline over 1 year	-10.90%	-7.62%	-3.28%
Max Drawdown (3Y) Largest decline over 3 years	-25.67%	-26.04%	+0.37%
Max Drawdown (5Y) Largest decline over 5 years	-25.67%	-49.75%	+24.08%
Max Drawdown (10Y) Largest decline over 10 years	-44.06%	-49.75%	+5.69%
Current Drawdown Current decline from peak	-1.36%	0.00%	-1.36%
Average Drawdown Average peak-to-trough decline	-6.21%	-16.21%	+10.00%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.40%	2.56%	+0.84%

Volatility

NDVAX vs. PMJIX - Volatility Comparison

The current volatility for MFS New Discovery Value Fund Class A (NDVAX) is 4.34%, while PIMCO RAE US Small Fund (PMJIX) has a volatility of 4.92%. This indicates that NDVAX experiences smaller price fluctuations and is considered to be less risky than PMJIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NDVAX	PMJIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.34%	4.92%	-0.58%
Volatility (6M) Calculated over the trailing 6-month period	11.53%	11.54%	-0.01%
Volatility (1Y) Calculated over the trailing 1-year period	16.51%	17.12%	-0.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.07%	39.48%	-19.41%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.86%	33.08%	-11.22%

NDVAX vs. PMJIX - Expense Ratio Comparison

NDVAX has a 1.21% expense ratio, which is higher than PMJIX's 0.50% expense ratio.

Dividends

NDVAX vs. PMJIX - Dividend Comparison

NDVAX's dividend yield for the trailing twelve months is around 9.70%, more than PMJIX's 2.63% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NDVAX MFS New Discovery Value Fund Class A	9.70%	10.62%	6.38%	6.06%	8.07%	9.19%	3.82%	4.60%	7.86%	5.16%	4.29%	3.15%
PMJIX PIMCO RAE US Small Fund	2.63%	3.15%	3.26%	1.25%	9.91%	65.79%	9.46%	1.55%	7.65%	4.69%	1.24%	1.67%

Frequently Asked Questions

Can I hold both NDVAX and PMJIX in my portfolio?

With a correlation of 0.90, NDVAX and PMJIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, NDVAX or PMJIX?

PMJIX has higher volatility (4.92%) compared to NDVAX (4.34%). In terms of maximum drawdown, NDVAX dropped -44.06% vs PMJIX's -49.75%.

Which has better risk-adjusted returns?

PMJIX currently has the higher Sharpe Ratio (2.22 vs 1.18), 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.