SCOBX vs. MGINX

Last updated Jun 24, 2026

SCOBX (DWS International Growth Fund) and MGINX (DWS Global Macro Fund) are both mutual funds - SCOBX is a Foreign Large Cap Equities fund managed by DWS, while MGINX is a Tactical Allocation fund managed by DWS. Over the past 10 years, SCOBX returned 8.27%/yr vs 6.30%/yr for MGINX. Their correlation of 0.83 suggests significant overlap in exposure. SCOBX charges 0.92%/yr vs 0.79%/yr for MGINX.

Performance

SCOBX vs. MGINX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DWS International Growth Fund (SCOBX) and DWS Global Macro Fund (MGINX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SCOBX achieves a 8.51% return, which is significantly higher than MGINX's 2.91% return. Over the past 10 years, SCOBX has outperformed MGINX with an annualized return of 8.27%, while MGINX has yielded a comparatively lower 6.30% annualized return.

SCOBX

• 1D: -0.55%
• 1M: 2.82%
• YTD: 8.51%
• 6M: 8.10%
• 1Y: 16.38%
• 3Y*: 14.20%
• 5Y*: 3.55%
• 10Y*: 8.27%

MGINX

• 1D: -0.60%
• 1M: -0.68%
• YTD: 2.91%
• 6M: 2.37%
• 1Y: 11.27%
• 3Y*: 8.35%
• 5Y*: 4.62%
• 10Y*: 6.30%

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

SCOBX vs. MGINX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SCOBX DWS International Growth Fund	8.51%	19.45%	9.37%	15.76%	-29.24%	8.23%	22.49%	31.61%	-16.88%	25.45%
MGINX DWS Global Macro Fund	2.91%	14.73%	3.56%	9.15%	-6.87%	6.36%	2.26%	12.61%	0.33%	13.65%

Correlation

The correlation between SCOBX and MGINX is 0.86, 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	0.86
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (10Y) Calculated over the trailing 10-year period	0.81
Correlation (All Time) Calculated using the full available price history since May 15, 1995	0.83

The correlation between SCOBX and MGINX has been stable across timeframes, ranging from 0.81 to 0.86 - a consistent structural relationship.

Return for Risk

SCOBX vs. MGINX — Risk / Return Rank

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

SCOBX

SCOBX Risk / Return Rank: 18
SCOBX Sharpe Ratio Rank: 17
SCOBX Sortino Ratio Rank: 17
SCOBX Omega Ratio Rank: 18
SCOBX Calmar Ratio Rank: 17
SCOBX Martin Ratio Rank: 22

MGINX

MGINX Risk / Return Rank: 29
MGINX Sharpe Ratio Rank: 31
MGINX Sortino Ratio Rank: 29
MGINX Omega Ratio Rank: 32
MGINX Calmar Ratio Rank: 24
MGINX Martin Ratio Rank: 28

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.

SCOBX vs. MGINX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DWS International Growth Fund (SCOBX) and DWS Global Macro Fund (MGINX). 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.

	SCOBX	MGINX	Difference
Sharpe ratio: Return per unit of total volatility	1.08	1.49	-0.41
Sortino ratio: Return per unit of downside risk	1.62	2.06	-0.44
Omega ratio: Gain probability vs. loss probability	1.20	1.28	-0.08
Calmar ratio: Return relative to maximum drawdown	1.39	1.67	-0.28
Martin ratio: Return relative to average drawdown	5.00	6.07	-1.07

SCOBX vs. MGINX - Sharpe Ratio Comparison

The current SCOBX Sharpe Ratio is 1.08, which is comparable to the MGINX Sharpe Ratio of 1.49. The chart below compares the historical Sharpe Ratios of SCOBX and MGINX, 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

SCOBX vs. MGINX - Drawdown Comparison

The maximum SCOBX drawdown since its inception was -62.65%, roughly equal to the maximum MGINX drawdown of -63.39%. Use the drawdown chart below to compare losses from any high point for SCOBX and MGINX.

Drawdown Indicators

	SCOBX	MGINX	Difference
Max Drawdown Largest peak-to-trough decline	-62.65%	-63.39%	+0.74%
Max Drawdown (1Y) Largest decline over 1 year	-12.41%	-7.01%	-5.40%
Max Drawdown (3Y) Largest decline over 3 years	-15.86%	-7.01%	-8.85%
Max Drawdown (5Y) Largest decline over 5 years	-40.92%	-12.16%	-28.76%
Max Drawdown (10Y) Largest decline over 10 years	-40.92%	-15.12%	-25.80%
Current Drawdown Current decline from peak	-0.55%	-2.83%	+2.28%
Average Drawdown Average peak-to-trough decline	-11.51%	-13.74%	+2.23%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.44%	1.93%	+1.51%

Volatility

SCOBX vs. MGINX - Volatility Comparison

DWS International Growth Fund (SCOBX) has a higher volatility of 6.05% compared to DWS Global Macro Fund (MGINX) at 3.01%. This indicates that SCOBX's price experiences larger fluctuations and is considered to be riskier than MGINX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SCOBX	MGINX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.05%	3.01%	+3.04%
Volatility (6M) Calculated over the trailing 6-month period	13.48%	6.88%	+6.60%
Volatility (1Y) Calculated over the trailing 1-year period	15.97%	7.89%	+8.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.22%	6.92%	+11.30%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.58%	7.45%	+10.13%

SCOBX vs. MGINX - Expense Ratio Comparison

SCOBX has a 0.92% expense ratio, which is higher than MGINX's 0.79% expense ratio.

Dividends

SCOBX vs. MGINX - Dividend Comparison

SCOBX's dividend yield for the trailing twelve months is around 4.33%, more than MGINX's 1.81% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MGINX DWS Global Macro Fund	1.81%	1.82%	2.15%	2.88%	4.76%	1.20%	0.81%	3.23%	6.82%	0.00%	0.00%	0.00%
SCOBX DWS International Growth Fund	4.33%	4.70%	3.37%	1.57%	3.78%	3.70%	0.81%	1.01%	1.29%	0.46%	0.14%	0.00%

Frequently Asked Questions

Can I hold both SCOBX and MGINX in my portfolio?

SCOBX and MGINX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SCOBX or MGINX?

SCOBX has higher volatility (6.05%) compared to MGINX (3.01%). In terms of maximum drawdown, SCOBX dropped -62.65% vs MGINX's -63.39%.

Which has better risk-adjusted returns?

MGINX currently has the higher Sharpe Ratio (1.49 vs 1.08), 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.