Fund Evaluator:
MassMutual Mid Cap Growth R5 (MGRFX)
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Best Performing in Mid-Cap Growth Over the Last Year
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Fund Details
MassMutual Mid Cap Growth R5 Overview
MassMutual Mid Cap Growth R5 (MGRFX) is an actively managed U.S. Equity Mid-Cap Growth fund. MassMutual launched the fund in 2000.
The investment seeks growth of capital over the long-term. The fund invests primarily in equity securities of mid-capitalization companies that the fund's subadvisers believe offer the potential for long-term growth. It invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in a broadly diversified portfolio of common stocks of mid-cap companies whose earnings the subadvisers expect to grow at a faster rate than the average company.
About MassMutual Mid Cap Growth R5 (MGRFX)
There are 4 members of the management team with an average tenure of 6.65 years: Donald Easley (2025), Christopher Scarpa (2010), Ashley Woodruff (2025), Ravi Dabas (2019). Management tenure is more important for actively managed funds than passive index funds.
The fund has 2 primary benchmarks: Russell 3000 TR USD index with a weighting of 100% and Russell Mid Cap Growth TR USD index with a weighting of 100%. MassMutual Mid Cap Growth R5 has 187 securities in its portfolio. The top 10 holdings constitute 17.0% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
MassMutual Mid Cap Growth R5 is part of the Equity global asset class and is within the U.S. Equity fund group. MassMutual Mid Cap Growth R5 has 2.6% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 95.8%. There is 2.6% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). MassMutual Mid Cap Growth R5 has 1.6% of the portfolio in cash.
Assets Under Management
The fund has $312 million in total assets, which is below the $658 million average for the Mid-Cap Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
MGRFX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The MassMutual Mid Cap Growth R5 expense ratio is above average compared to funds in the Mid-Cap Growth category. MassMutual Mid Cap Growth R5 has an expense ratio of 0.76%, which is 31% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. MassMutual Mid Cap Growth R5 has a portfolio turnover rate of 38%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 77% for the Mid-Cap Growth category.
Recently, in the month of July 2026, MassMutual Mid Cap Growth R5 returned -3.4%, which earned it a grade of B, as the Mid-Cap Growth category had an average return of -5.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
MassMutual Mid Cap Growth R5 has a trailing yield of 0.00%, which is below the 0.03% category average. The fund normally distributes its income annually and its capital gains semi-annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
MassMutual Mid Cap Growth R5 Grades
Year to date, the fund has returned 4.0%, 1.7 percentage points worse than the category, which translates into a grade of C. The fund has returned 5.7% over the past year (grade of C), 7.0% over the past three years (grade of D) and 2.2% per year over the past five years (grade of C) and 9.6% per year over the past 10 years (grade of D).
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MGRFX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MGRFX Return (NAV) | -3.4% | 1.2% | 5.7% | 7.0% | 2.2% | 9.6% |
| MGRFX Grade | B | C | C | D | C | D |
| +/- Category | 2.2% | -0.9% | 0.3% | -3.5% | -0.3% | -1.3% |
| Mid-Cap Growth Avg | -5.5% | 2.1% | 5.5% | 10.5% | 2.5% | 10.9% |
| MGRFX Tax Cost Ratio | na | na | 4.3% | 2.9% | 3.4% | 2.4% |
MGRFX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MGRFX Return (NAV) | 4.0% | 3.7% | 11.3% | 19.5% | -24.2% | 14.9% | 26.1% | 32.1% | -3.2% | 24.6% | 6.1% |
| MGRFX Grade | C | D | D | D | B | B | F | D | B | C | C |
| +/- Category | -1.7% | -2.4% | -6.0% | -1.3% | 3.9% | 2.6% | -14.3% | -1.9% | 1.4% | -0.7% | 0.8% |
| Mid-Cap Growth Avg | 5.7% | 6.1% | 17.3% | 20.8% | -28.1% | 12.3% | 40.4% | 33.9% | -4.6% | 25.3% | 5.3% |
| Risk Measures | |
| Standard Deviation: | 15.5% |
| Total Risk Index: | 1.27 - Above Average |
| Category Risk Index: | 0.82 - Low |
| Category Risk Grade: | A (12% Rank) |
| Beta: | 1.04 |
| R-Squared: | 77% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Mid-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Semi-Annually |
| Total Assets: | $2074 Mil |
| Fund Total Assets: | $ 312 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 38% |
Management Team
| Number of Managers: 4 | |||
| Longest Tenure: 15.9 years | |||
| Average Tenure: 6.6 years | |||
| Managers (Year): Scarpa Christopher (2010), Dabas Ravi (2019), Easley Donald (2025), Woodruff Ashley (2025) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 187 |
| % in Top 10 Holdings: | 17.0% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 2.6% |
Portfolio Allocation |
|
| Domestic Stock: | 95.8% |
| Foreign Stock: | 2.6% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.6% |
Purchase Information
| Fund Family: | MassMutual |
| Phone Number: | 888-309-3539 |
| Website: | www.massmutual.com |
| Status: | Open |
| Inception Date: | May 31, 2000 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.76% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 1.09% |
| Share Class: | MassMutual Mid Cap Growth R5 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
