SLAFX vs. MXF

Last updated Jun 23, 2026

SLAFX (DWS Latin America Equity Fund) and MXF (The Mexico Fund) are both Latin America Equities funds. Over the past 10 years, SLAFX returned 11.15%/yr vs 8.30%/yr for MXF. A 0.64 correlation means they provide meaningful diversification when combined. SLAFX charges 1.26%/yr vs 0.01%/yr for MXF.

Performance

SLAFX vs. MXF - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in DWS Latin America Equity Fund (SLAFX) and The Mexico Fund (MXF). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SLAFX achieves a 7.72% return, which is significantly lower than MXF's 11.89% return. Over the past 10 years, SLAFX has outperformed MXF with an annualized return of 11.15%, while MXF has yielded a comparatively lower 8.30% annualized return.

SLAFX

• 1D: -1.10%
• 1M: -3.17%
• YTD: 7.72%
• 6M: 9.63%
• 1Y: 27.23%
• 3Y*: 9.88%
• 5Y*: 7.63%
• 10Y*: 11.15%

MXF

• 1D: -1.98%
• 1M: 0.51%
• YTD: 11.89%
• 6M: 10.79%
• 1Y: 40.91%
• 3Y*: 15.59%
• 5Y*: 13.60%
• 10Y*: 8.30%

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

SLAFX vs. MXF - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SLAFX DWS Latin America Equity Fund	7.72%	54.49%	-28.35%	33.60%	8.33%	-8.82%	0.94%	35.92%	-2.59%	32.53%
MXF The Mexico Fund	11.89%	61.94%	-27.14%	35.83%	-1.66%	18.01%	3.29%	11.37%	-12.26%	15.71%

Correlation

The correlation between SLAFX and MXF is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.63
Correlation (5Y) Calculated over the trailing 5-year period	0.63
Correlation (10Y) Calculated over the trailing 10-year period	0.59
Correlation (All Time) Calculated using the full available price history since Jan 4, 1993	0.64

The correlation between SLAFX and MXF has been stable across timeframes, ranging from 0.59 to 0.64 - a consistent structural relationship.

Return for Risk

SLAFX vs. MXF — Risk / Return Rank

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

SLAFX

SLAFX Risk / Return Rank: 22
SLAFX Sharpe Ratio Rank: 19
SLAFX Sortino Ratio Rank: 19
SLAFX Omega Ratio Rank: 20
SLAFX Calmar Ratio Rank: 29
SLAFX Martin Ratio Rank: 23

MXF

MXF Risk / Return Rank: 55
MXF Sharpe Ratio Rank: 55
MXF Sortino Ratio Rank: 51
MXF Omega Ratio Rank: 46
MXF Calmar Ratio Rank: 64
MXF Martin Ratio Rank: 57

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.

SLAFX vs. MXF - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for DWS Latin America Equity Fund (SLAFX) and The Mexico Fund (MXF). 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.

	SLAFX	MXF	Difference
Sharpe ratio: Return per unit of total volatility	1.18	2.01	-0.84
Sortino ratio: Return per unit of downside risk	1.69	2.75	-1.06
Omega ratio: Gain probability vs. loss probability	1.22	1.34	-0.12
Calmar ratio: Return relative to maximum drawdown	1.88	2.93	-1.05
Martin ratio: Return relative to average drawdown	5.25	10.84	-5.59

SLAFX vs. MXF - Sharpe Ratio Comparison

The current SLAFX Sharpe Ratio is 1.18, which is lower than the MXF Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of SLAFX and MXF, 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

SLAFX vs. MXF - Drawdown Comparison

The maximum SLAFX drawdown since its inception was -70.68%, smaller than the maximum MXF drawdown of -80.25%. Use the drawdown chart below to compare losses from any high point for SLAFX and MXF.

Drawdown Indicators

	SLAFX	MXF	Difference
Max Drawdown Largest peak-to-trough decline	-70.68%	-80.25%	+9.57%
Max Drawdown (1Y) Largest decline over 1 year	-13.65%	-14.03%	+0.38%
Max Drawdown (3Y) Largest decline over 3 years	-29.46%	-30.73%	+1.27%
Max Drawdown (5Y) Largest decline over 5 years	-29.87%	-30.73%	+0.86%
Max Drawdown (10Y) Largest decline over 10 years	-50.90%	-56.02%	+5.12%
Current Drawdown Current decline from peak	-11.70%	-2.82%	-8.88%
Average Drawdown Average peak-to-trough decline	-22.19%	-31.51%	+9.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.86%	3.79%	+1.07%

Volatility

SLAFX vs. MXF - Volatility Comparison

DWS Latin America Equity Fund (SLAFX) and The Mexico Fund (MXF) have volatilities of 6.44% and 6.14%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SLAFX	MXF	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.44%	6.14%	+0.30%
Volatility (6M) Calculated over the trailing 6-month period	18.02%	16.65%	+1.37%
Volatility (1Y) Calculated over the trailing 1-year period	21.78%	20.46%	+1.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.29%	20.83%	+2.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	26.98%	23.32%	+3.66%

SLAFX vs. MXF - Expense Ratio Comparison

SLAFX has a 1.26% expense ratio, which is higher than MXF's 0.02% expense ratio.

Dividends

SLAFX vs. MXF - Dividend Comparison

SLAFX's dividend yield for the trailing twelve months is around 3.79%, less than MXF's 5.50% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MXF The Mexico Fund	5.50%	4.67%	6.67%	4.19%	4.88%	2.29%	3.15%	7.28%	5.13%	3.37%	5.03%	10.90%
SLAFX DWS Latin America Equity Fund	3.79%	4.09%	5.41%	3.40%	7.44%	14.43%	0.00%	0.11%	0.00%	4.47%	1.82%	0.00%

Frequently Asked Questions

Can I hold both SLAFX and MXF in my portfolio?

SLAFX and MXF have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SLAFX or MXF?

SLAFX has higher volatility (6.44%) compared to MXF (6.14%). In terms of maximum drawdown, SLAFX dropped -70.68% vs MXF's -80.25%.

Which has better risk-adjusted returns?

MXF currently has the higher Sharpe Ratio (2.01 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.