AMGOX vs. MMGPX
AMGOX (Alger Mid Cap Growth Portfolio Fund) and MMGPX (Morgan Stanley Discovery Portfolio) are both Mid Cap Growth Equities funds. Over the past 5 years, AMGOX returned 2.52%/yr vs -6.51%/yr for MMGPX. Their correlation of 0.84 means they have usually moved in the same direction. AMGOX charges 0.92%/yr vs 0.04%/yr for MMGPX.
Performance
AMGOX vs. MMGPX - Performance Comparison
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Returns By Period
In the year-to-date period, AMGOX achieves a 4.11% return, which is significantly higher than MMGPX's -2.74% return.
AMGOX
- 1D
- 0.20%
- 1M
- -4.39%
- 6M
- 4.91%
- YTD
- 4.11%
- 1Y
- 9.49%
- 3Y*
- 14.30%
- 5Y*
- 2.52%
- 10Y*
- 12.11%
- ALL TIME*
- 10.26%
MMGPX
- 1D
- -1.80%
- 1M
- -5.59%
- 6M
- 3.05%
- YTD
- -2.74%
- 1Y
- -12.13%
- 3Y*
- 17.27%
- 5Y*
- -6.51%
- 10Y*
- —
- ALL TIME*
- 14.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
AMGOX vs. MMGPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
AMGOX Alger Mid Cap Growth Portfolio Fund | 4.11% | 16.76% | 21.07% | 23.17% | -36.14% | 5.45% | 64.79% | 30.24% | -7.42% | 19.96% |
MMGPX Morgan Stanley Discovery Portfolio | -2.74% | 12.58% | 41.83% | 44.34% | -63.37% | -11.55% | 152.67% | 40.20% | 10.89% | 28.18% |
Correlation
The correlation between AMGOX and MMGPX is 0.79, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.79 |
Correlation (3Y) Balances recent behavior with more history. | 0.80 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017 | 0.84 |
The correlation between AMGOX and MMGPX has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.
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Return for Risk
AMGOX vs. MMGPX — Risk / Return Rank
AMGOX
MMGPX
AMGOX vs. MMGPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Alger Mid Cap Growth Portfolio Fund (AMGOX) and Morgan Stanley Discovery Portfolio (MMGPX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
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.
| AMGOX | MMGPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.81 | ||
| Sortino ratioReturn per unit of downside risk | +1.12 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 0.95 | +0.13 |
| Calmar ratioReturn relative to maximum drawdown | 0.48 | -0.45 | +0.92 |
| Martin ratioReturn relative to average drawdown | 1.47 | -0.85 | +2.32 |
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Drawdowns
AMGOX vs. MMGPX - Drawdown Comparison
The maximum AMGOX drawdown since its inception was -68.10%, smaller than the maximum MMGPX drawdown of -75.38%. Use the drawdown chart below to compare losses from any high point for AMGOX and MMGPX.
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Drawdown Indicators
| AMGOX | MMGPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.10% | -75.38% | +7.28% |
Max Drawdown (1Y)Largest decline over 1 year | -16.25% | -27.79% | +11.54% |
Max Drawdown (3Y)Largest decline over 3 years | -27.34% | -29.27% | +1.93% |
Max Drawdown (5Y)Largest decline over 5 years | -59.22% | -72.70% | +13.48% |
Max Drawdown (10Y)Largest decline over 10 years | -59.22% | — | — |
Current DrawdownCurrent decline from peak | -22.89% | -41.88% | +18.99% |
Average DrawdownAverage peak-to-trough decline | -17.73% | -30.40% | +12.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.28% | 14.51% | -9.23% |
Volatility
AMGOX vs. MMGPX - Volatility Comparison
The current volatility for Alger Mid Cap Growth Portfolio Fund (AMGOX) is 5.28%, while Morgan Stanley Discovery Portfolio (MMGPX) has a volatility of 6.82%. This indicates that AMGOX experiences smaller price fluctuations and is considered to be less risky than MMGPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| AMGOX | MMGPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.28% | 6.82% | -1.54% |
Volatility (6M)Calculated over the trailing 6-month period | 16.06% | 21.95% | -5.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.32% | 28.95% | -8.63% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.50% | 39.82% | -0.32% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 32.17% | 35.11% | -2.94% |
AMGOX vs. MMGPX - Expense Ratio Comparison
AMGOX has a 0.92% expense ratio, which is higher than MMGPX's 0.04% expense ratio.
Dividends
AMGOX vs. MMGPX - Dividend Comparison
Neither AMGOX nor MMGPX has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
AMGOX Alger Mid Cap Growth Portfolio Fund | 0.00% | 0.00% | 0.00% | 0.00% | 3.72% | 55.13% | 12.13% | 12.09% | 18.59% |
MMGPX Morgan Stanley Discovery Portfolio | 0.00% | 0.43% | 0.00% | 0.00% | 125.40% | 64.53% | 7.93% | 15.63% | 28.02% |
Frequently Asked Questions
AMGOX and MMGPX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MMGPX has higher volatility (6.82%) compared to AMGOX (5.28%). In terms of maximum drawdown, AMGOX dropped -68.10% vs MMGPX's -75.38%.
AMGOX currently has the higher Sharpe Ratio (0.38 vs -0.43), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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