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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in Morgan Stanley China A Share Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
Morgan Stanley China A Share Fund (CAF) has returned 0.81% so far this year and 35.89% over the past 12 months. Over the last ten years, CAF has returned 4.78% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
Morgan Stanley China A Share Fund
- 1D
- 3.67%
- 1M
- -4.11%
- YTD
- 0.81%
- 6M
- 6.75%
- 1Y
- 35.89%
- 3Y*
- 8.65%
- 5Y*
- -3.03%
- 10Y*
- 4.78%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Sep 28, 2006, CAF's average daily return is +0.06%, while the average monthly return is +1.06%. At this rate, your investment would double in approximately 5.5 years.
Historically, 54% of months were positive and 46% were negative. The best month was Dec 2006 with a return of +35.3%, while the worst month was Oct 2008 at -25.3%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 5 months.
On a daily basis, CAF closed higher 49% of trading days. The best single day was Oct 13, 2008 with a return of +20.9%, while the worst single day was Sep 17, 2008 at -14.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.70% | -0.54% | -4.11% | 0.81% | |||||||||
| 2025 | 0.56% | 0.72% | 3.65% | -3.44% | 2.93% | 5.97% | 2.64% | 9.26% | 7.77% | 1.98% | -6.60% | 11.17% | 41.51% |
| 2024 | -4.08% | 0.33% | -1.79% | 1.08% | -0.58% | -2.89% | -2.38% | 3.31% | 14.26% | -5.98% | -1.89% | 2.35% | 0.34% |
| 2023 | 14.79% | -10.92% | -1.10% | -3.27% | -7.78% | -0.78% | 6.85% | -6.19% | -2.20% | -5.30% | 2.71% | 6.16% | -9.39% |
| 2022 | -7.30% | -3.91% | -10.07% | -6.36% | -0.46% | 11.09% | -6.38% | -6.75% | -8.59% | -9.62% | 14.91% | 1.23% | -30.41% |
| 2021 | -3.25% | 3.55% | 1.62% | 1.37% | 3.41% | -3.26% | -9.14% | -0.87% | 1.89% | 0.62% | -0.85% | 3.90% | -1.77% |
Benchmark Metrics
Morgan Stanley China A Share Fund has an annualized alpha of 4.94%, beta of 0.90, and R² of 0.28 versus S&P 500 Index. Calculated based on daily prices since September 29, 2006.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (73.49%) than losses (69.87%) — typical of diversified or defensive assets.
- R² of 0.28 means this fund moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 4.94%
- Beta
- 0.90
- R²
- 0.28
- Upside Capture
- 73.49%
- Downside Capture
- 69.87%
Expense Ratio
CAF has a high expense ratio of 1.67%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
CAF ranks 89 for risk / return — in the top 89% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Morgan Stanley China A Share Fund (CAF) and compare them to a chosen benchmark (S&P 500 Index).
| CAF | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.83 | 0.90 | +0.93 |
Sortino ratioReturn per unit of downside risk | 2.50 | 1.39 | +1.11 |
Omega ratioGain probability vs. loss probability | 1.35 | 1.21 | +0.14 |
Calmar ratioReturn relative to maximum drawdown | 3.02 | 1.40 | +1.62 |
Martin ratioReturn relative to average drawdown | 10.31 | 6.61 | +3.70 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore CAF risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
Morgan Stanley China A Share Fund provided a 1.50% dividend yield over the last twelve months, with an annual payout of $0.26 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.26 | $0.26 | $0.33 | $0.12 | $0.00 | $1.34 | $2.30 | $0.82 | $1.73 | $1.22 | $0.80 | $13.34 |
Dividend yield | 1.50% | 1.51% | 2.63% | 0.96% | 0.02% | 6.57% | 10.40% | 3.78% | 9.48% | 5.20% | 4.69% | 67.03% |
Monthly Dividends
The table displays the monthly dividend distributions for Morgan Stanley China A Share Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | |||||||||
| 2025 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.26 | $0.26 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.33 | $0.33 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.12 | $0.12 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.34 | $1.34 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Morgan Stanley China A Share Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Morgan Stanley China A Share Fund was 65.88%, occurring on Nov 6, 2008. Recovery took 1607 trading sessions.
The current Morgan Stanley China A Share Fund drawdown is 17.42%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -65.88% | Sep 28, 2007 | 281 | Nov 6, 2008 | 1607 | Mar 30, 2015 | 1888 |
| -49.01% | Jun 7, 2021 | 792 | Jul 30, 2024 | — | — | — |
| -39.21% | Jun 12, 2015 | 51 | Aug 24, 2015 | 435 | May 16, 2017 | 486 |
| -34.02% | Jan 29, 2018 | 538 | Mar 18, 2020 | 188 | Dec 14, 2020 | 726 |
| -18.59% | Jan 4, 2007 | 41 | Mar 5, 2007 | 21 | Apr 3, 2007 | 62 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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