TFIAX vs. MCBDX

Last updated Jun 3, 2026

TFIAX (Timothy Plan Fixed Income Fund) and MCBDX (MassMutual Core Bond Fund) are both Intermediate Core Bond funds. Over the past 10 years, TFIAX returned 0.64%/yr vs 5.40%/yr for MCBDX. Their correlation of 0.89 suggests significant overlap in exposure. TFIAX charges 1.34%/yr vs 0.52%/yr for MCBDX.

Performance

TFIAX vs. MCBDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Timothy Plan Fixed Income Fund (TFIAX) and MassMutual Core Bond Fund (MCBDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TFIAX achieves a 0.08% return, which is significantly lower than MCBDX's 0.85% return. Over the past 10 years, TFIAX has underperformed MCBDX with an annualized return of 0.64%, while MCBDX has yielded a comparatively higher 5.40% annualized return.

TFIAX

• 1D: -0.11%
• 1M: -0.00%
• YTD: 0.08%
• 6M: 0.31%
• 1Y: 5.04%
• 3Y*: 3.21%
• 5Y*: -0.46%
• 10Y*: 0.64%

MCBDX

• 1D: -0.11%
• 1M: 0.24%
• YTD: 0.85%
• 6M: 1.14%
• 1Y: 6.88%
• 3Y*: 4.90%
• 5Y*: 6.73%
• 10Y*: 5.40%

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

TFIAX vs. MCBDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TFIAX Timothy Plan Fixed Income Fund	0.08%	6.41%	0.12%	4.85%	-12.11%	-2.45%	5.24%	6.14%	-0.67%	1.72%
MCBDX MassMutual Core Bond Fund	0.85%	8.03%	1.13%	6.64%	-15.29%	38.26%	8.42%	9.62%	-0.48%	4.60%

Correlation

The correlation between TFIAX and MCBDX is 0.89, 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	0.89
Correlation (3Y) Calculated over the trailing 3-year period	0.91
Correlation (5Y) Calculated over the trailing 5-year period	0.92
Correlation (10Y) Calculated over the trailing 10-year period	0.90
Correlation (All Time) Calculated using the full available price history since Jan 4, 2000	0.89

The correlation between TFIAX and MCBDX has been stable across timeframes, ranging from 0.89 to 0.92 - a consistent structural relationship.

Return for Risk

TFIAX vs. MCBDX — Risk / Return Rank

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

TFIAX

TFIAX Risk / Return Rank: 19
TFIAX Sharpe Ratio Rank: 18
TFIAX Sortino Ratio Rank: 19
TFIAX Omega Ratio Rank: 18
TFIAX Calmar Ratio Rank: 20
TFIAX Martin Ratio Rank: 18

MCBDX

MCBDX Risk / Return Rank: 37
MCBDX Sharpe Ratio Rank: 34
MCBDX Sortino Ratio Rank: 38
MCBDX Omega Ratio Rank: 34
MCBDX Calmar Ratio Rank: 42
MCBDX Martin Ratio Rank: 38

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.

TFIAX vs. MCBDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Timothy Plan Fixed Income Fund (TFIAX) and MassMutual Core Bond Fund (MCBDX). 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.

	TFIAX	MCBDX	Difference
Sharpe ratio Return per unit of total volatility	1.23	1.69	-0.46
Sortino ratio Return per unit of downside risk	1.85	2.57	-0.72
Omega ratio Gain probability vs. loss probability	1.23	1.31	-0.08
Calmar ratio Return relative to maximum drawdown	1.65	2.50	-0.84
Martin ratio Return relative to average drawdown	5.10	8.41	-3.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TFIAX vs. MCBDX - Sharpe Ratio Comparison

The current TFIAX Sharpe Ratio is 1.23, which is comparable to the MCBDX Sharpe Ratio of 1.69. The chart below compares the historical Sharpe Ratios of TFIAX and MCBDX, 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

	TFIAX	MCBDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.23	1.69	-0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.08	0.34	-0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.14	0.38	-0.23
Sharpe Ratio (All Time) Calculated using the full available price history	0.51	0.53	-0.02

Drawdowns

TFIAX vs. MCBDX - Drawdown Comparison

The maximum TFIAX drawdown since its inception was -18.62%, smaller than the maximum MCBDX drawdown of -22.01%. Use the drawdown chart below to compare losses from any high point for TFIAX and MCBDX.

Drawdown Indicators

	TFIAX	MCBDX	Difference
Max Drawdown Largest peak-to-trough decline	-18.62%	-22.01%	+3.39%
Max Drawdown (1Y) Largest decline over 1 year	-2.91%	-2.87%	-0.04%
Max Drawdown (3Y) Largest decline over 3 years	-6.49%	-5.34%	-1.15%
Max Drawdown (5Y) Largest decline over 5 years	-17.30%	-22.01%	+4.71%
Max Drawdown (10Y) Largest decline over 10 years	-18.62%	-22.01%	+3.39%
Current Drawdown Current decline from peak	-4.96%	-4.15%	-0.81%
Average Drawdown Average peak-to-trough decline	-2.91%	-3.53%	+0.62%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.94%	0.85%	+0.09%

Volatility

TFIAX vs. MCBDX - Volatility Comparison

Timothy Plan Fixed Income Fund (TFIAX) has a higher volatility of 1.50% compared to MassMutual Core Bond Fund (MCBDX) at 1.42%. This indicates that TFIAX's price experiences larger fluctuations and is considered to be riskier than MCBDX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TFIAX	MCBDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.50%	1.42%	+0.08%
Volatility (6M) Calculated over the trailing 6-month period	2.71%	2.81%	-0.10%
Volatility (1Y) Calculated over the trailing 1-year period	3.83%	3.89%	-0.06%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.64%	20.10%	-14.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.45%	14.45%	-10.00%

TFIAX vs. MCBDX - Expense Ratio Comparison

TFIAX has a 1.34% expense ratio, which is higher than MCBDX's 0.52% expense ratio.

Dividends

TFIAX vs. MCBDX - Dividend Comparison

TFIAX's dividend yield for the trailing twelve months is around 3.05%, less than MCBDX's 4.48% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MCBDX MassMutual Core Bond Fund	4.48%	4.50%	1.93%	4.62%	3.83%	31.12%	5.98%	3.35%	3.32%	2.96%	3.29%	1.43%
TFIAX Timothy Plan Fixed Income Fund	3.05%	3.00%	3.04%	2.48%	1.28%	0.84%	1.21%	1.60%	1.92%	1.62%	1.75%	2.03%

Frequently Asked Questions

Can I hold both TFIAX and MCBDX in my portfolio?

TFIAX and MCBDX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TFIAX or MCBDX?

TFIAX has higher volatility (1.50%) compared to MCBDX (1.42%). In terms of maximum drawdown, TFIAX dropped -18.62% vs MCBDX's -22.01%.

Which has better risk-adjusted returns?

MCBDX currently has the higher Sharpe Ratio (1.69 vs 1.23), 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.