BFOCX vs. MSEQX

Last updated Jun 3, 2026

BFOCX (Berkshire Focus Fund) and MSEQX (Morgan Stanley Growth Portfolio Class I) are both mutual funds - BFOCX is a Technology Equities fund managed by Berkshire, while MSEQX is a Large Cap Growth Equities fund managed by Morgan Stanley. Over the past 10 years, BFOCX returned 22.91%/yr vs 17.55%/yr for MSEQX. Their correlation of 0.83 suggests significant overlap in exposure. BFOCX charges 1.94%/yr vs 0.56%/yr for MSEQX.

Performance

BFOCX vs. MSEQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Berkshire Focus Fund (BFOCX) and Morgan Stanley Growth Portfolio Class I (MSEQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, BFOCX achieves a 61.24% return, which is significantly higher than MSEQX's 0.37% return. Over the past 10 years, BFOCX has outperformed MSEQX with an annualized return of 22.91%, while MSEQX has yielded a comparatively lower 17.55% annualized return.

BFOCX

• 1D: 5.13%
• 1M: 21.94%
• YTD: 61.24%
• 6M: 60.38%
• 1Y: 104.56%
• 3Y*: 52.88%
• 5Y*: 13.06%
• 10Y*: 22.91%

MSEQX

• 1D: 0.72%
• 1M: 7.34%
• YTD: 0.37%
• 6M: 0.96%
• 1Y: 11.46%
• 3Y*: 29.85%
• 5Y*: 1.68%
• 10Y*: 17.55%

*Multi-year figures are annualized to reflect compound growth (CAGR)

BFOCX vs. MSEQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BFOCX Berkshire Focus Fund	61.24%	28.67%	59.16%	50.20%	-65.06%	-1.79%	90.81%	40.56%	10.04%	44.10%
MSEQX Morgan Stanley Growth Portfolio Class I	0.37%	24.78%	46.65%	50.36%	-60.18%	-0.00%	115.60%	38.25%	5.38%	43.91%

Correlation

The correlation between BFOCX and MSEQX is 0.65, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.65
Correlation (3Y) Calculated over the trailing 3-year period	0.78
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jul 1, 1997	0.83

The correlation between BFOCX and MSEQX shifts across timeframes, from 0.65 (1 year) to 0.88 (10 years), reflecting how their relationship changes across market environments.

Return for Risk

BFOCX vs. MSEQX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

BFOCX

BFOCX Risk / Return Rank: 79
BFOCX Sharpe Ratio Rank: 89
BFOCX Sortino Ratio Rank: 58
BFOCX Omega Ratio Rank: 61
BFOCX Calmar Ratio Rank: 96
BFOCX Martin Ratio Rank: 90

MSEQX

MSEQX Risk / Return Rank: 5
MSEQX Sharpe Ratio Rank: 5
MSEQX Sortino Ratio Rank: 6
MSEQX Omega Ratio Rank: 6
MSEQX Calmar Ratio Rank: 5
MSEQX Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

BFOCX vs. MSEQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Berkshire Focus Fund (BFOCX) and Morgan Stanley Growth Portfolio Class I (MSEQX). 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.

	BFOCX	MSEQX	Difference
Sharpe ratio Return per unit of total volatility	2.93	0.45	+2.48
Sortino ratio Return per unit of downside risk	3.20	0.81	+2.40
Omega ratio Gain probability vs. loss probability	1.44	1.10	+0.34
Calmar ratio Return relative to maximum drawdown	6.25	0.47	+5.78
Martin ratio Return relative to average drawdown	18.20	1.02	+17.18
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

BFOCX vs. MSEQX - Sharpe Ratio Comparison

The current BFOCX Sharpe Ratio is 2.93, which is higher than the MSEQX Sharpe Ratio of 0.45. The chart below compares the historical Sharpe Ratios of BFOCX and MSEQX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	BFOCX	MSEQX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.93	0.45	+2.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.30	0.04	+0.26
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.61	0.52	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.26	0.48	-0.22

Drawdowns

BFOCX vs. MSEQX - Drawdown Comparison

The maximum BFOCX drawdown since its inception was -95.80%, which is greater than MSEQX's maximum drawdown of -69.48%. Use the drawdown chart below to compare losses from any high point for BFOCX and MSEQX.

Drawdown Indicators

	BFOCX	MSEQX	Difference
Max Drawdown Largest peak-to-trough decline	-95.80%	-69.48%	-26.32%
Max Drawdown (1Y) Largest decline over 1 year	-17.22%	-27.73%	+10.51%
Max Drawdown (3Y) Largest decline over 3 years	-40.55%	-32.52%	-8.03%
Max Drawdown (5Y) Largest decline over 5 years	-72.53%	-69.48%	-3.05%
Max Drawdown (10Y) Largest decline over 10 years	-72.53%	-69.48%	-3.05%
Current Drawdown Current decline from peak	0.00%	-12.26%	+12.26%
Average Drawdown Average peak-to-trough decline	-58.18%	-16.90%	-41.28%
Ulcer Index Depth and duration of drawdowns from previous peaks	5.91%	12.80%	-6.89%

Volatility

BFOCX vs. MSEQX - Volatility Comparison

Berkshire Focus Fund (BFOCX) has a higher volatility of 13.25% compared to Morgan Stanley Growth Portfolio Class I (MSEQX) at 8.06%. This indicates that BFOCX's price experiences larger fluctuations and is considered to be riskier than MSEQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	BFOCX	MSEQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	13.25%	8.06%	+5.19%
Volatility (6M) Calculated over the trailing 6-month period	29.45%	21.31%	+8.14%
Volatility (1Y) Calculated over the trailing 1-year period	36.93%	28.00%	+8.93%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	43.52%	39.71%	+3.81%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	37.56%	33.75%	+3.81%

BFOCX vs. MSEQX - Expense Ratio Comparison

BFOCX has a 1.94% expense ratio, which is higher than MSEQX's 0.56% expense ratio.

Dividends

BFOCX vs. MSEQX - Dividend Comparison

Neither BFOCX nor MSEQX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BFOCX Berkshire Focus Fund	0.00%	0.00%	0.00%	0.00%	0.00%	19.54%	21.20%	14.20%	5.70%	21.73%	0.14%	9.52%
MSEQX Morgan Stanley Growth Portfolio Class I	0.00%	0.00%	0.55%	0.05%	16.79%	24.24%	9.36%	21.39%	5.38%	21.18%	12.71%	7.55%

Frequently Asked Questions

Can I hold both BFOCX and MSEQX in my portfolio?

BFOCX and MSEQX have a correlation of 0.65, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, BFOCX or MSEQX?

BFOCX has higher volatility (13.25%) compared to MSEQX (8.06%). In terms of maximum drawdown, BFOCX dropped -95.80% vs MSEQX's -69.48%.

Which has better risk-adjusted returns?

BFOCX currently has the higher Sharpe Ratio (2.93 vs 0.45), 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.