- ISIN
- US61745C1053
- CUSIP
- 61745C105
- Issuer
- Morgan Stanley
- Inception Date
- Feb 25, 1994
- Category
- Emerging Markets Equities
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
IIF Performance Chart
Morgan Stanley India Investment Fund (IIF) is down 13.5% since the beginning of the year. IIF is currently trading at $22 per share. Investors who bought $1,000 worth of IIF shares 5 years ago would now be looking at an investment worth $1,464.
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Returns By Period
Morgan Stanley India Investment Fund (IIF) has returned -13.53% so far this year and -13.48% over the past 12 months. Over the last ten years, IIF has returned 7.94% per year, falling short of the S&P 500 Index benchmark, which averaged 13.75% annually.
Morgan Stanley India Investment Fund
- 1D
- 0.05%
- 1M
- -1.37%
- YTD
- -13.53%
- 6M
- -12.64%
- 1Y
- -13.48%
- 3Y*
- 12.46%
- 5Y*
- 7.92%
- 10Y*
- 7.94%
Benchmark (S&P 500 Index)
- 1D
- 0.13%
- 1M
- 5.25%
- YTD
- 11.16%
- 6M
- 11.43%
- 1Y
- 28.20%
- 3Y*
- 21.12%
- 5Y*
- 12.66%
- 10Y*
- 13.75%
IIF Monthly Returns History
Based on dividend-adjusted daily data since Feb 15, 1995, IIF's average daily return is +0.07%, while the average monthly return is +1.44%. At this rate, an investment would double in approximately 4.0 years.
Historically, 58% of months were positive and 42% were negative. The best month was Dec 2007 with a return of +59.2%, while the worst month was Mar 2020 at -31.5%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 4 months.
On a daily basis, IIF closed higher 50% of trading days. The best single day was Jun 26, 2008 with a return of +52.6%, while the worst single day was Mar 18, 2020 at -15.4%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | -6.33% | 1.92% | -13.71% | 6.71% | -0.27% | -1.37% | -13.53% | ||||||
| 2025 | -3.01% | -5.43% | 5.22% | 7.13% | 2.49% | 5.41% | -3.22% | -3.92% | 0.38% | 3.45% | -0.99% | -0.09% | 6.71% |
| 2024 | 4.61% | 2.76% | -0.61% | 2.18% | 2.35% | 11.50% | 3.03% | 1.16% | 7.89% | -7.85% | 1.77% | -1.33% | 29.65% |
| 2023 | -1.03% | -2.09% | -1.07% | 1.80% | 2.57% | 6.64% | 3.83% | -1.02% | 0.36% | -4.25% | 6.31% | 8.35% | 21.43% |
| 2022 | -0.22% | -6.38% | 0.68% | -2.71% | -5.20% | -3.50% | 9.84% | 1.22% | -6.36% | 1.93% | 4.34% | -2.43% | -9.55% |
| 2021 | 0.99% | 7.33% | 1.40% | -0.31% | 5.68% | 0.45% | 2.47% | 8.35% | 0.73% | -1.27% | -4.04% | 6.19% | 30.87% |
Benchmark Metrics
Morgan Stanley India Investment Fund has an annualized alpha of 9.29%, beta of 0.88, and R2 of 0.23 versus S&P 500 Index. Calculated based on daily prices since February 16, 1995.
- This fund captured 106.09% of S&P 500 Index gains but only 88.67% of its losses - a favorable profile for investors.
- R2 of 0.23 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
- 9.29%
- Beta
- 0.88
- R²
- 0.23
- Upside Capture
- 106.09%
- Downside Capture
- 88.67%
Expense Ratio
IIF has an expense ratio of 0.01%, which is considered low.
Return for Risk
Risk / Return Rank
IIF ranks 1 for risk / return — in the bottom 1% of mutual funds on our site. This means you're taking on significantly more risk than the returns justify. Consider whether the potential upside is worth the volatility, or explore alternatives with better risk / return profiles.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Morgan Stanley India Investment Fund (IIF) and compare them to S&P 500 Index.
| IIF | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.86 | 2.39 | -3.25 |
Sortino ratioReturn per unit of downside risk | -1.22 | 3.25 | -4.47 |
Omega ratioGain probability vs. loss probability | 0.87 | 1.43 | -0.57 |
Calmar ratioReturn relative to maximum drawdown | -0.56 | 3.11 | -3.68 |
Martin ratioReturn relative to average drawdown | -1.36 | 14.38 | -15.74 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Dividends
Dividend History
Morgan Stanley India Investment Fund provided a 9.19% dividend yield over the last twelve months, with an annual payout of $1.99 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $1.99 | $1.99 | $2.70 | $3.14 | $3.98 | $1.00 | $0.00 | $0.03 | $6.10 | $5.05 | $1.14 | $0.04 |
Dividend yield | 9.19% | 7.95% | 10.67% | 14.61% | 19.62% | 3.75% | 0.02% | 0.14% | 30.40% | 15.23% | 4.46% | 0.16% |
Monthly Dividends
The table displays the monthly dividend distributions for Morgan Stanley India Investment 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 | $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 | $1.99 | $1.99 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.70 | $2.70 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.14 | $3.14 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $3.98 | $3.98 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $1.00 | $1.00 |
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 India Investment 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 India Investment Fund was 62.11%, occurring on Nov 20, 2008. Recovery took 437 trading sessions.
The current Morgan Stanley India Investment Fund drawdown is 17.81%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -62.11%Nov 2008 | 3mo 29d | 1y 9mo | 2y 25dJul 2008 - Aug 2010 |
1998 bear market1998 | -59.65%Aug 1998 | 1y 24d | 1y 1mo | 2y 2moAug 1997 - Oct 1999 |
COVID crash2020 | -59.05%Mar 2020 | 2y 1mo | 1y 5mo | 3y 7moJan 2018 - Aug 2021 |
Dot-com crash2000–2002 | -54.92%Sep 2001 | 1y 7mo | 1y 11mo | 3y 6moFeb 2000 - Aug 2003 |
2013 bear market2013 | -49.73%Aug 2013 | 2y 9mo | 1y 2mo | 4y 11dNov 2010 - Nov 2014 |
Drawdown Indicators
| IIF | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -62.11% | -56.78% | -5.33% |
Max Drawdown (1Y)Largest decline over 1 year | -24.05% | -9.10% | -14.95% |
Max Drawdown (3Y)Largest decline over 3 years | -24.05% | -18.90% | -5.15% |
Max Drawdown (5Y)Largest decline over 5 years | -24.05% | -25.43% | +1.38% |
Max Drawdown (10Y)Largest decline over 10 years | -59.05% | -33.92% | -25.13% |
Current DrawdownCurrent decline from peak | -17.81% | 0.00% | -17.81% |
Average DrawdownAverage peak-to-trough decline | -19.78% | -10.72% | -9.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.91% | 1.97% | +7.94% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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