- ISIN
- US61744J8201
- CUSIP
- 61744J820
- Issuer
- T. Rowe Price
- Inception Date
- Sep 24, 1992
- Category
- Emerging Markets Diversified
- Min. Investment
- $1,000,000
- Distribution Policy
- Accumulating
- Asset Class
- Multi-Asset
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
MGEMX Performance Chart
Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio (MGEMX) is up 37.1% since the beginning of the year. MGEMX is currently trading at $19 per share. Investors who bought $1,000 worth of MGEMX shares 5 years ago would now be looking at an investment worth $793.
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Returns By Period
Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio (MGEMX) has returned 37.11% so far this year and -18.15% over the past 12 months. Over the last ten years, MGEMX has returned 4.29% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio
- 1D
- 3.61%
- 1M
- 8.02%
- YTD
- 37.11%
- 6M
- 40.00%
- 1Y
- -18.15%
- 3Y*
- 0.07%
- 5Y*
- -4.54%
- 10Y*
- 4.29%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
MGEMX Monthly Returns History
Based on dividend-adjusted daily data since Sep 25, 1992, MGEMX's average daily return is +0.04%, while the average monthly return is +0.83%. At this rate, an investment would double in approximately 7.0 years.
Historically, 59% of months were positive and 41% were negative. The best month was Dec 1999 with a return of +23.3%, while the worst month was Dec 2025 at -49.1%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 6 months.
On a daily basis, MGEMX closed higher 53% of trading days. The best single day was Dec 20, 2007 with a return of +25.2%, while the worst single day was Dec 17, 2025 at -51.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 8.33% | 8.09% | -11.50% | 15.19% | 10.14% | 4.28% | 37.11% | ||||||
| 2025 | 1.17% | -0.79% | 1.45% | 1.48% | 4.91% | 5.67% | 0.04% | 1.64% | 7.34% | 4.96% | -1.40% | -49.06% | -34.08% |
| 2024 | -3.21% | 4.56% | 3.12% | 0.67% | 1.34% | 4.57% | -0.77% | 0.59% | 4.38% | -3.67% | -2.24% | -1.06% | 8.07% |
| 2023 | 8.39% | -7.23% | 2.18% | -0.16% | -1.12% | 5.03% | 4.73% | -6.00% | -2.09% | -2.62% | 6.80% | 5.02% | 12.16% |
| 2022 | -3.22% | -7.47% | -2.06% | -8.65% | 1.82% | -9.59% | 2.93% | -1.45% | -9.72% | 0.87% | 14.37% | -3.83% | -25.07% |
| 2021 | 2.76% | 1.01% | -1.36% | 2.87% | 2.44% | 1.17% | -4.81% | 4.37% | -4.91% | 2.20% | -5.41% | 3.84% | 3.53% |
Benchmark Metrics
Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio has an annualized alpha of 1.80%, beta of 0.76, and R2 of 0.38 versus S&P 500 Index. Calculated based on daily prices since September 25, 1992.
- This fund participated in 105.03% of S&P 500 Index downside but only 96.40% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.38 means the benchmark explains less than half of this fund's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 1.80%
- Beta
- 0.76
- R²
- 0.38
- Upside Capture
- 96.40%
- Downside Capture
- 105.03%
Expense Ratio
MGEMX has a high expense ratio of 1.05%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
MGEMX ranks 2 for risk / return — in the bottom 2% 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 Institutional Fund, Inc. Emerging Markets Portfolio (MGEMX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MGEMX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.36 | ||
| Sortino ratioReturn per unit of downside risk | -2.71 | ||
| Omega ratioGain probability vs. loss probability | 1.02 | 1.37 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.35 | 2.78 | -3.14 |
| Martin ratioReturn relative to average drawdown | -0.60 | 12.44 | -13.04 |
Dividends
Dividend History
Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio provided a 0.00% dividend yield over the last twelve months, with an annual payout of $0.00 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.00 | $0.00 | $0.27 | $0.49 | $0.82 | $2.30 | $0.29 | $6.16 | $0.55 | $0.17 | $0.17 | $0.17 |
Dividend yield | 0.00% | 0.00% | 1.27% | 2.48% | 4.48% | 9.05% | 1.07% | 26.00% | 2.46% | 0.60% | 0.82% | 0.87% |
Monthly Dividends
The table displays the monthly dividend distributions for Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio. 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 | $0.00 | $0.00 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.27 | $0.27 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.49 | $0.49 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.82 | $0.82 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $2.30 | $2.30 |
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 Institutional Fund, Inc. Emerging Markets Portfolio. 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 Institutional Fund, Inc. Emerging Markets Portfolio was 64.93%, occurring on Nov 20, 2008. Recovery took 2174 trading sessions.
The current Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio drawdown is 31.76%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -64.93%Nov 2008 | 10mo 29d | 8y 7mo | 9y 6moDec 2007 - Jul 2017 |
Dot-com crash2000–2002 | -61.41%Sep 2001 | 1y 6mo | 3y 5mo | 4y 11moMar 2000 - Feb 2005 |
1998 bear market1998 | -56.01%Oct 1998 | 1y 2mo | 1y 2mo | 2y 4moAug 1997 - Dec 1999 |
2025 bear market2025 | -52.50%Dec 2025 | 1mo 18d | — | 7mo 26dOct 2025 - now |
Bear market2022 | -38.62%Oct 2022 | 1y 7mo | 2y 11mo | 4y 6moFeb 2021 - Sep 2025 |
Drawdown Indicators
| MGEMX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.93% | -56.78% | -8.15% |
Max Drawdown (1Y)Largest decline over 1 year | -52.50% | -9.10% | -43.40% |
Max Drawdown (3Y)Largest decline over 3 years | -52.50% | -18.90% | -33.60% |
Max Drawdown (5Y)Largest decline over 5 years | -52.50% | -25.43% | -27.07% |
Max Drawdown (10Y)Largest decline over 10 years | -52.50% | -33.92% | -18.58% |
Current DrawdownCurrent decline from peak | -31.76% | -1.80% | -29.96% |
Average DrawdownAverage peak-to-trough decline | -19.84% | -10.71% | -9.13% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.78% | 2.03% | +28.75% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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