SMCWX vs. NDVIX

Last updated Jun 5, 2026

SMCWX (American Funds SMALLCAP World Fund Class A) and NDVIX (MFS New Discovery Value Fund) are both mutual funds - SMCWX is a Foreign Small & Mid Cap Equities fund managed by American Funds, while NDVIX is a Small Cap Value Equities fund managed by MFS. Over the past 10 years, SMCWX returned 9.91%/yr vs 10.23%/yr for NDVIX. Their correlation of 0.82 suggests significant overlap in exposure. SMCWX charges 1.02%/yr vs 0.93%/yr for NDVIX.

Performance

SMCWX vs. NDVIX - Performance Comparison

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

Returns By Period

In the year-to-date period, SMCWX achieves a 12.27% return, which is significantly higher than NDVIX's 8.27% return. Both investments have delivered pretty close results over the past 10 years, with SMCWX having a 9.91% annualized return and NDVIX not far ahead at 10.23%.

SMCWX

• 1D: -0.46%
• 1M: 1.38%
• YTD: 12.27%
• 6M: 12.27%
• 1Y: 24.34%
• 3Y*: 12.74%
• 5Y*: 1.92%
• 10Y*: 9.91%

NDVIX

• 1D: -0.71%
• 1M: -1.62%
• YTD: 8.27%
• 6M: 7.63%
• 1Y: 18.17%
• 3Y*: 10.50%
• 5Y*: 4.66%
• 10Y*: 10.23%

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

SMCWX vs. NDVIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SMCWX American Funds SMALLCAP World Fund Class A	12.27%	14.07%	2.33%	18.86%	-29.90%	10.14%	37.46%	30.79%	-9.75%	26.85%
NDVIX MFS New Discovery Value Fund	8.27%	2.38%	9.34%	11.20%	-10.79%	33.58%	3.65%	33.65%	-11.13%	14.54%

Correlation

The correlation between SMCWX and NDVIX is 0.84, 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	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.85
Correlation (5Y) Calculated over the trailing 5-year period	0.85
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since May 27, 2011	0.82

The correlation between SMCWX and NDVIX has been stable across timeframes, ranging from 0.78 to 0.85 - a consistent structural relationship.

Return for Risk

SMCWX vs. NDVIX — Risk / Return Rank

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

SMCWX

SMCWX Risk / Return Rank: 32
SMCWX Sharpe Ratio Rank: 31
SMCWX Sortino Ratio Rank: 31
SMCWX Omega Ratio Rank: 29
SMCWX Calmar Ratio Rank: 32
SMCWX Martin Ratio Rank: 40

NDVIX

NDVIX Risk / Return Rank: 18
NDVIX Sharpe Ratio Rank: 15
NDVIX Sortino Ratio Rank: 17
NDVIX Omega Ratio Rank: 15
NDVIX Calmar Ratio Rank: 21
NDVIX Martin Ratio Rank: 21

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.

SMCWX vs. NDVIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds SMALLCAP World Fund Class A (SMCWX) and MFS New Discovery Value Fund (NDVIX). 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.

	SMCWX	NDVIX	Difference
Sharpe ratio: Return per unit of total volatility	1.59	1.07	+0.52
Sortino ratio: Return per unit of downside risk	2.32	1.64	+0.68
Omega ratio: Gain probability vs. loss probability	1.28	1.19	+0.09
Calmar ratio: Return relative to maximum drawdown	2.12	1.62	+0.51
Martin ratio: Return relative to average drawdown	8.50	5.19	+3.31
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SMCWX vs. NDVIX - Sharpe Ratio Comparison

The current SMCWX Sharpe Ratio is 1.59, which is higher than the NDVIX Sharpe Ratio of 1.07. The chart below compares the historical Sharpe Ratios of SMCWX and NDVIX, 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

	SMCWX	NDVIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	1.07	+0.52
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	0.23	-0.13
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.56	0.47	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.59	0.49	+0.09

Drawdowns

SMCWX vs. NDVIX - Drawdown Comparison

The maximum SMCWX drawdown since its inception was -62.46%, which is greater than NDVIX's maximum drawdown of -44.03%. Use the drawdown chart below to compare losses from any high point for SMCWX and NDVIX.

Drawdown Indicators

	SMCWX	NDVIX	Difference
Max Drawdown Largest peak-to-trough decline	-62.46%	-44.03%	-18.43%
Max Drawdown (1Y) Largest decline over 1 year	-11.83%	-10.87%	-0.96%
Max Drawdown (3Y) Largest decline over 3 years	-21.40%	-25.59%	+4.19%
Max Drawdown (5Y) Largest decline over 5 years	-39.79%	-25.59%	-14.20%
Max Drawdown (10Y) Largest decline over 10 years	-39.79%	-44.03%	+4.24%
Current Drawdown Current decline from peak	-0.95%	-2.52%	+1.57%
Average Drawdown Average peak-to-trough decline	-14.91%	-6.14%	-8.77%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.95%	3.37%	-0.42%

Volatility

SMCWX vs. NDVIX - Volatility Comparison

American Funds SMALLCAP World Fund Class A (SMCWX) has a higher volatility of 5.11% compared to MFS New Discovery Value Fund (NDVIX) at 4.37%. This indicates that SMCWX's price experiences larger fluctuations and is considered to be riskier than NDVIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SMCWX	NDVIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.11%	4.37%	+0.74%
Volatility (6M) Calculated over the trailing 6-month period	12.81%	11.48%	+1.33%
Volatility (1Y) Calculated over the trailing 1-year period	15.82%	16.52%	-0.70%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	18.19%	20.05%	-1.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.89%	21.83%	-3.94%

SMCWX vs. NDVIX - Expense Ratio Comparison

SMCWX has a 1.02% expense ratio, which is higher than NDVIX's 0.93% expense ratio.

Dividends

SMCWX vs. NDVIX - Dividend Comparison

SMCWX's dividend yield for the trailing twelve months is around 4.32%, less than NDVIX's 9.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
NDVIX MFS New Discovery Value Fund	9.93%	10.76%	6.57%	6.24%	8.27%	9.36%	1.93%	4.80%	8.09%	5.14%	4.40%	2.70%
SMCWX American Funds SMALLCAP World Fund Class A	4.32%	4.84%	0.60%	0.64%	0.00%	9.24%	1.60%	4.24%	7.06%	4.48%	0.35%	6.49%

Frequently Asked Questions

Can I hold both SMCWX and NDVIX in my portfolio?

SMCWX and NDVIX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SMCWX or NDVIX?

SMCWX has higher volatility (5.11%) compared to NDVIX (4.37%). In terms of maximum drawdown, SMCWX dropped -62.46% vs NDVIX's -44.03%.

Which has better risk-adjusted returns?

SMCWX currently has the higher Sharpe Ratio (1.59 vs 1.07), 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.