NDVIX vs. MEIIX

Last updated Jun 23, 2026

NDVIX (MFS New Discovery Value Fund) and MEIIX (MFS Value Fund Class I) are both mutual funds - NDVIX is a Small Cap Value Equities fund managed by MFS, while MEIIX is a Large Cap Value Equities fund managed by MFS. Over the past 10 years, NDVIX returned 10.66%/yr vs 10.13%/yr for MEIIX. Their correlation of 0.84 suggests significant overlap in exposure. NDVIX charges 0.93%/yr vs 0.55%/yr for MEIIX.

Performance

NDVIX vs. MEIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS New Discovery Value Fund (NDVIX) and MFS Value Fund Class I (MEIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, NDVIX achieves a 12.08% return, which is significantly higher than MEIIX's 6.49% return. Both investments have delivered pretty close results over the past 10 years, with NDVIX having a 10.66% annualized return and MEIIX not far behind at 10.13%.

NDVIX

• 1D: 1.40%
• 1M: 2.73%
• YTD: 12.08%
• 6M: 9.66%
• 1Y: 21.76%
• 3Y*: 10.90%
• 5Y*: 6.32%
• 10Y*: 10.66%

MEIIX

• 1D: -0.26%
• 1M: 1.33%
• YTD: 6.49%
• 6M: 5.75%
• 1Y: 15.99%
• 3Y*: 12.92%
• 5Y*: 9.03%
• 10Y*: 10.13%

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

NDVIX vs. MEIIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
NDVIX MFS New Discovery Value Fund	12.08%	2.38%	9.34%	11.20%	-10.79%	33.58%	3.65%	33.65%	-11.13%	14.54%
MEIIX MFS Value Fund Class I	6.49%	13.26%	11.86%	8.21%	-6.02%	25.43%	3.99%	30.04%	-9.90%	17.20%

Correlation

The correlation between NDVIX and MEIIX is 0.80, 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	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.83
Correlation (All Time) Calculated using the full available price history since May 26, 2011	0.84

The correlation between NDVIX and MEIIX has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.

Return for Risk

NDVIX vs. MEIIX — Risk / Return Rank

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

NDVIX

NDVIX Risk / Return Rank: 27
NDVIX Sharpe Ratio Rank: 24
NDVIX Sortino Ratio Rank: 26
NDVIX Omega Ratio Rank: 22
NDVIX Calmar Ratio Rank: 32
NDVIX Martin Ratio Rank: 30

MEIIX

MEIIX Risk / Return Rank: 36
MEIIX Sharpe Ratio Rank: 32
MEIIX Sortino Ratio Rank: 33
MEIIX Omega Ratio Rank: 29
MEIIX Calmar Ratio Rank: 43
MEIIX Martin Ratio Rank: 40

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.

NDVIX vs. MEIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS New Discovery Value Fund (NDVIX) and MFS Value Fund Class I (MEIIX). 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.

	NDVIX	MEIIX	Difference
Sharpe ratio: Return per unit of total volatility	1.32	1.52	-0.20
Sortino ratio: Return per unit of downside risk	1.99	2.21	-0.22
Omega ratio: Gain probability vs. loss probability	1.23	1.27	-0.03
Calmar ratio: Return relative to maximum drawdown	2.01	2.39	-0.38
Martin ratio: Return relative to average drawdown	6.48	8.24	-1.76

NDVIX vs. MEIIX - Sharpe Ratio Comparison

The current NDVIX Sharpe Ratio is 1.32, which is comparable to the MEIIX Sharpe Ratio of 1.52. The chart below compares the historical Sharpe Ratios of NDVIX and MEIIX, 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

NDVIX vs. MEIIX - Drawdown Comparison

The maximum NDVIX drawdown since its inception was -44.03%, smaller than the maximum MEIIX drawdown of -52.64%. Use the drawdown chart below to compare losses from any high point for NDVIX and MEIIX.

Drawdown Indicators

	NDVIX	MEIIX	Difference
Max Drawdown Largest peak-to-trough decline	-44.03%	-52.64%	+8.61%
Max Drawdown (1Y) Largest decline over 1 year	-10.87%	-6.76%	-4.11%
Max Drawdown (3Y) Largest decline over 3 years	-25.59%	-13.19%	-12.40%
Max Drawdown (5Y) Largest decline over 5 years	-25.59%	-17.58%	-8.01%
Max Drawdown (10Y) Largest decline over 10 years	-44.03%	-36.70%	-7.33%
Current Drawdown Current decline from peak	-0.26%	-1.42%	+1.16%
Average Drawdown Average peak-to-trough decline	-6.12%	-6.54%	+0.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.37%	1.96%	+1.41%

Volatility

NDVIX vs. MEIIX - Volatility Comparison

MFS New Discovery Value Fund (NDVIX) has a higher volatility of 4.67% compared to MFS Value Fund Class I (MEIIX) at 3.21%. This indicates that NDVIX's price experiences larger fluctuations and is considered to be riskier than MEIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	NDVIX	MEIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.67%	3.21%	+1.46%
Volatility (6M) Calculated over the trailing 6-month period	11.70%	7.88%	+3.82%
Volatility (1Y) Calculated over the trailing 1-year period	16.62%	10.64%	+5.98%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.05%	13.94%	+6.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.84%	16.57%	+5.27%

NDVIX vs. MEIIX - Expense Ratio Comparison

NDVIX has a 0.93% expense ratio, which is higher than MEIIX's 0.55% expense ratio.

Dividends

NDVIX vs. MEIIX - Dividend Comparison

NDVIX's dividend yield for the trailing twelve months is around 9.60%, more than MEIIX's 9.13% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MEIIX MFS Value Fund Class I	9.13%	9.52%	9.30%	8.41%	7.58%	3.32%	2.63%	3.17%	3.62%	4.04%	2.91%	5.97%
NDVIX MFS New Discovery Value Fund	9.60%	10.76%	6.57%	6.24%	8.27%	9.36%	1.93%	4.80%	8.09%	5.14%	4.40%	2.70%

Frequently Asked Questions

Can I hold both NDVIX and MEIIX in my portfolio?

NDVIX and MEIIX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, NDVIX or MEIIX?

NDVIX has higher volatility (4.67%) compared to MEIIX (3.21%). In terms of maximum drawdown, NDVIX dropped -44.03% vs MEIIX's -52.64%.

Which has better risk-adjusted returns?

MEIIX currently has the higher Sharpe Ratio (1.52 vs 1.32), 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.