HRAIX vs MCGWX Fund Comparison

A comparison between HRAIX and MCGWX based on their expense ratio, growth, holdings and how well they match their benchmark performance.

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Minafi's Take on HRAIX vs MCGWX

Here's an in depth look at the differences between Hartford Growth Allocation Fund Class I($HRAIX) and MFS Growth Allocation Fund Class C($MCGWX).

To start off, here's a look at the basics of each fund. Keep an eye on the FI Score. That's a custom score from 0 to 100 that we generate based on how good this fund is for the casual investor. Most investors only need a handful of total funds in their portfolio. The higher the score, the more likely this is one of those few. Score alone isn't enough! Keep reading on to see how different (or perhaps similar) these two funds are.

  • hraix
  • Mutual Fund
  • Allocation
  • All-In-One

Hartford Growth Allocation Fund Class I

Expenses: 0.24% (Better than 1% of similar funds)

This is an OK choice for a All-In-One Allocation fund. See why »

  • mcgwx
  • Mutual Fund
  • Allocation
  • All-In-One

MFS Growth Allocation Fund Class C

Expenses: 1.10% (Better than 0% of similar funds)

This is a bad choice for a All-In-One Allocation fund. See why »

Both $HRAIX and $MCGWX are categorized as Mutual Funds. Mutual funds are often offered by 401(k) platforms and are essentially the same as ETFs. Mutual funds are generally offered by an investment platform – Fidelity has Fidelity mutual funds, Vanguard has Vanguard mutual funds. Mutual funds are ideal for retirement investing since you can invest any amount. That allows you to invest every last cent and benefit from the market.

The biggest disadvantage of mutual funds is that you're usually limited to the funds on your investment platform. If you're investing on Fidelity, you'll want to pick Fidelity mutual funds (or any ETF). Same with Vanguard. Some platforms offer mutual funds from other platforms, but they may charge a purchse or redemption fee. I'd recommend using the same platform as your funds – or stick to ETFs.

To learn more about the difference between these two, you can read about the difference between ETFs and Mutual Funds.

When evaluating a fund, the first things I look at are:

  • What it invests in
  • How much it charges in fees
  • How large the fund is

Let's look into these criteria one by one and see if either of these funds stands out.

Fund Holdings Comparison

Both of these funds are AllocationAll-In-One funds – which means they're likely both investing in about the same investments behind the scenes.

Minafi's FI Score algorithm takes into account the category and market. The more niche a fund is, the lower the score. This doesn't mean it's a worse fund, but it does mean you should stop and make sure this a fund you need to diversify your portfolio.

HRAIXMCGWX
Market Score 5.1 /10 9.0 /10
Category Score 5.0 /10 5.0 /10
Total10.114.0

A score of 10 means this is a solid market and category that almost every investor will want to have investments in. The lower the score, the more specific the investment. These scores are based on when most investors would add these funds to their portfolio. A score of 10 means that this fund (or one like it) belongs in a three-fund portfolio. The lower the score, the farther down in your portfolio a fund would go.

Winner: $MCGWX

Fee Comparison

Fees are one of the biggest killers of portfolio growth. The difference between a 2% fee and a 0.04% fee over 30 years can result in your portfolio having half the total value!

If you're just getting started investing and learning how fees impact your portfolio, I'd encourage you to read through my free investment course (specifically '2.2 - All About Fees') where I go over all the different types of fees you can be charged and how to lower them.

For these two funds, HRAIX has an expense ratio of 0.24% while MCGWX has an expense ratio of 1.10%.

Winner: $HRAIX

Fund Size Comparison

One place these two funds differ is in their total assets under management. This is a good indication of how many other investors trust this fund. A large fund by itself doesn't mean it's a good fund, but it is one thing to consider when figuring out how to choose the right fund.

In the case of these two funds, HRAIX is a medium fund with 537 Million in assets under management. MCGWX, on the other hand, is a large fund with 4.94 Billion in assets under management.

Winner: $MCGWX, MFS Growth Allocation Fund Class C

Which Should You Choose? HRAIX or MCGWX?

Since both of these funds are AllocationAll-In-One funds, you'll most likely only need to invest in one of these funds – not both. Running both of these funds through Minafi's FI Score algorithm, gives HRAIX a score of 68 and MCGWX a score of 49.

Neither of these funds has an FI Score above 90 – which is a red flag. I'd look into more funds to find one with a higher FI Score.

Winner: Neither, I'd research more funds if you're looking to invest for retirement.

$HRAIX

Hartford Growth Allocation Fund Class I

68

Read More
Ratings
Rating TypeRating
Expense Ratio Score10/10
Expense Rating8/10
Market Score5/10
Category Score5/10
Overview
OverviewDetails
Fund TypeMutual Fund
Inception DateMay-28-2004
ExchangeNMFQS
Expense Ratio0.240%
Net Assets537 Million
Yield1.91%
Holdings
DescriptionInfo
MarketAllocation
CategoryAll-In-One
Sectors
  • Basic Materials 3.30%
  • Communication Services 7.83%
  • Consumer Cyclical 10.27%
  • Consumer Defensive 8.21%
  • Energy 2.86%
  • Financial Services 14.09%
  • Healthcare 17.25%
  • Industrials 11.22%
  • Real Estate 3.53%
  • Technology 17.03%
  • Utilities 4.41%
Regions
  • Africa/Middle East 0.69%
  • Asia Developed 2.86%
  • Asia Emerging 3.62%
  • Australasia 1.05%
  • Europe Developed 9.72%
  • Europe Emerging 0.56%
  • Japan 4.82%
  • Latin America 0.62%
  • North America 71.91%
  • United Kingdom 4.14%

$MCGWX

MFS Growth Allocation Fund Class C

49

Read More
Ratings
Rating TypeRating
Expense Ratio Score4/10
Expense Rating0/10
Market Score9/10
Category Score5/10
Overview
OverviewDetails
Fund TypeMutual Fund
Inception DateJun-28-2002
ExchangeNMFQS
Expense Ratio1.100%
Net Assets4.94 Billion
Yield0.86%
Holdings
DescriptionInfo
MarketAllocation
CategoryAll-In-One
Sectors
  • Basic Materials 4.82%
  • Communication Services 6.35%
  • Consumer Cyclical 7.75%
  • Consumer Defensive 9.40%
  • Energy 1.64%
  • Financial Services 14.00%
  • Healthcare 13.40%
  • Industrials 13.97%
  • Real Estate 8.30%
  • Technology 16.97%
  • Utilities 3.40%
Regions
  • Africa/Middle East 0.42%
  • Asia Developed 2.90%
  • Asia Emerging 2.39%
  • Australasia 0.65%
  • Europe Developed 12.80%
  • Europe Emerging 0.10%
  • Japan 5.23%
  • Latin America 0.39%
  • North America 70.80%
  • United Kingdom 4.30%

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