OTCAX vs. MEIAX

Last updated Jul 18, 2026

OTCAX (MFS Mid Cap Growth Fund) and MEIAX (MFS Value Fund) are both mutual funds - OTCAX is a Mid Cap Growth Equities fund managed by MFS, while MEIAX is a Large Cap Value Equities fund managed by MFS. Over the past 10 years, OTCAX returned 11.74%/yr vs 9.83%/yr for MEIAX. A 0.74 correlation means they provide meaningful diversification when combined. OTCAX charges 1.00%/yr vs 0.80%/yr for MEIAX.

Performance

OTCAX vs. MEIAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MFS Mid Cap Growth Fund (OTCAX) and MFS Value Fund (MEIAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, OTCAX achieves a 2.89% return, which is significantly lower than MEIAX's 9.74% return. Over the past 10 years, OTCAX has outperformed MEIAX with an annualized return of 11.74%, while MEIAX has yielded a comparatively lower 9.83% annualized return.

OTCAX

• 1D: -1.55%
• 1M: -1.14%
• 6M: 0.00%
• YTD: 2.89%
• 1Y: -1.22%
• 3Y*: 11.11%
• 5Y*: 4.27%
• 10Y*: 11.74%

MEIAX

• 1D: 0.46%
• 1M: 2.90%
• 6M: 5.62%
• YTD: 9.74%
• 1Y: 15.63%
• 3Y*: 13.34%
• 5Y*: 8.68%
• 10Y*: 9.83%

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

OTCAX vs. MEIAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
OTCAX MFS Mid Cap Growth Fund	2.89%	3.32%	23.47%	21.00%	-28.53%	13.66%	35.34%	37.43%	0.82%	25.95%
MEIAX MFS Value Fund	9.74%	12.97%	11.60%	7.92%	-6.25%	25.11%	3.71%	29.73%	-10.11%	16.97%

Correlation

The correlation between OTCAX and MEIAX is 0.51, 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	0.51
Correlation (3Y) Calculated over the trailing 3-year period	0.61
Correlation (5Y) Calculated over the trailing 5-year period	0.71
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Dec 29, 1995	0.74

Over the past year, the correlation between OTCAX and MEIAX has dropped to 0.51 - well below their long-term average of 0.74, suggesting their price drivers have been diverging.

Return for Risk

OTCAX vs. MEIAX — Risk / Return Rank

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

OTCAX

OTCAX Risk / Return Rank: 3
OTCAX Sharpe Ratio Rank: 3
OTCAX Sortino Ratio Rank: 3
OTCAX Omega Ratio Rank: 3
OTCAX Calmar Ratio Rank: 3
OTCAX Martin Ratio Rank: 3

MEIAX

MEIAX Risk / Return Rank: 45
MEIAX Sharpe Ratio Rank: 42
MEIAX Sortino Ratio Rank: 43
MEIAX Omega Ratio Rank: 39
MEIAX Calmar Ratio Rank: 53
MEIAX Martin Ratio Rank: 46

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.

OTCAX vs. MEIAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MFS Mid Cap Growth Fund (OTCAX) and MFS Value Fund (MEIAX). 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.

	OTCAX	MEIAX	Difference
Sharpe ratio: Return per unit of total volatility	-0.02	1.53	-1.55
Sortino ratio: Return per unit of downside risk	0.09	2.23	-2.14
Omega ratio: Gain probability vs. loss probability	1.01	1.27	-0.26
Calmar ratio: Return relative to maximum drawdown	-0.02	2.36	-2.39
Martin ratio: Return relative to average drawdown	-0.06	8.11	-8.17

OTCAX vs. MEIAX - Sharpe Ratio Comparison

The current OTCAX Sharpe Ratio is -0.02, which is lower than the MEIAX Sharpe Ratio of 1.53. The chart below compares the historical Sharpe Ratios of OTCAX and MEIAX, 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

OTCAX vs. MEIAX - Drawdown Comparison

The maximum OTCAX drawdown since its inception was -74.39%, which is greater than MEIAX's maximum drawdown of -52.85%. Use the drawdown chart below to compare losses from any high point for OTCAX and MEIAX.

Drawdown Indicators

	OTCAX	MEIAX	Difference
Max Drawdown Largest peak-to-trough decline	-74.39%	-52.85%	-21.54%
Max Drawdown (1Y) Largest decline over 1 year	-16.46%	-6.78%	-9.68%
Max Drawdown (3Y) Largest decline over 3 years	-21.05%	-13.26%	-7.79%
Max Drawdown (5Y) Largest decline over 5 years	-36.85%	-17.72%	-19.13%
Max Drawdown (10Y) Largest decline over 10 years	-36.85%	-36.71%	-0.14%
Current Drawdown Current decline from peak	-4.85%	0.00%	-4.85%
Average Drawdown Average peak-to-trough decline	-23.05%	-6.52%	-16.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.50%	1.97%	+4.53%

Volatility

OTCAX vs. MEIAX - Volatility Comparison

MFS Mid Cap Growth Fund (OTCAX) has a higher volatility of 4.99% compared to MFS Value Fund (MEIAX) at 2.45%. This indicates that OTCAX's price experiences larger fluctuations and is considered to be riskier than MEIAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	OTCAX	MEIAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.99%	2.45%	+2.54%
Volatility (6M) Calculated over the trailing 6-month period	14.47%	7.60%	+6.87%
Volatility (1Y) Calculated over the trailing 1-year period	17.54%	10.51%	+7.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.38%	13.91%	+6.47%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	20.00%	16.46%	+3.54%

OTCAX vs. MEIAX - Expense Ratio Comparison

OTCAX has a 1.00% expense ratio, which is higher than MEIAX's 0.80% expense ratio.

Dividends

OTCAX vs. MEIAX - Dividend Comparison

OTCAX's dividend yield for the trailing twelve months is around 16.29%, more than MEIAX's 8.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MEIAX MFS Value Fund	8.65%	9.34%	9.10%	8.21%	7.36%	3.10%	2.42%	2.97%	3.36%	3.87%	2.84%	5.73%
OTCAX MFS Mid Cap Growth Fund	16.29%	16.76%	15.59%	0.00%	0.00%	3.64%	0.83%	0.86%	4.70%	8.80%	5.67%	2.84%

Frequently Asked Questions

Can I hold both OTCAX and MEIAX in my portfolio?

OTCAX and MEIAX have a correlation of 0.51, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, OTCAX or MEIAX?

OTCAX has higher volatility (4.99%) compared to MEIAX (2.45%). In terms of maximum drawdown, OTCAX dropped -74.39% vs MEIAX's -52.85%.

Which has better risk-adjusted returns?

MEIAX currently has the higher Sharpe Ratio (1.53 vs -0.02), 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.