BFOCX vs. MSEQX

Last updated Aug 1, 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 18.99%/yr vs 15.78%/yr for MSEQX. Their correlation of 0.83 means they have usually moved in the same direction. 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 21.74% return, which is significantly higher than MSEQX's -8.29% return. Over the past 10 years, BFOCX has outperformed MSEQX with an annualized return of 18.99%, while MSEQX has yielded a comparatively lower 15.78% annualized return.

BFOCX

• 1D: 15.71%
• 1M: -12.42%
• 6M: 22.53%
• YTD: 21.74%
• 1Y: 31.11%
• 3Y*: 33.99%
• 5Y*: 6.03%
• 10Y*: 18.99%
• ALL TIME*: 9.33%

MSEQX

• 1D: 2.08%
• 1M: -5.98%
• 6M: 0.05%
• YTD: -8.29%
• 1Y: -2.46%
• 3Y*: 20.52%
• 5Y*: -2.33%
• 10Y*: 15.78%
• ALL TIME*: 11.53%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
BFOCX Berkshire Focus Fund	$0.00	$0.00	$0.00
MSEQX Morgan Stanley Growth Portfolio Class I	$0.00	$0.00	$0.00

BFOCX vs. MSEQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
BFOCX Berkshire Focus Fund	21.74%	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	-8.29%	24.78%	46.65%	50.25%	-60.18%	0.00%	115.60%	38.25%	5.38%	43.91%

Correlation

The correlation between BFOCX and MSEQX is 0.61, 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.	0.61
Correlation (3Y) Balances recent behavior with more history.	0.75
Correlation (5Y) Shows whether the relationship held over a longer period.	0.85
Correlation (10Y) Provides a long-term view across more market conditions.	0.87
Correlation (All Time) Calculated using the full available price history since Jun 30, 1997	0.83

Over the past year, the correlation between BFOCX and MSEQX has dropped to 0.61 - well below their long-term average of 0.83, suggesting their price drivers have been diverging.

Return for Risk

BFOCX vs. MSEQX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

BFOCX

BFOCX Risk / Return Rank: 18
BFOCX Sharpe Ratio Rank: 14
BFOCX Sortino Ratio Rank: 19
BFOCX Omega Ratio Rank: 20
BFOCX Calmar Ratio Rank: 15
BFOCX Martin Ratio Rank: 21

MSEQX

MSEQX Risk / Return Rank: 4
MSEQX Sharpe Ratio Rank: 3
MSEQX Sortino Ratio Rank: 4
MSEQX Omega Ratio Rank: 4
MSEQX Calmar Ratio Rank: 3
MSEQX Martin Ratio Rank: 4

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

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.

	BFOCX	MSEQX	Difference
Sharpe ratio: Return per unit of total volatility	0.53	-0.16	+0.69
Sortino ratio: Return per unit of downside risk	1.04	-0.02	+1.06
Omega ratio: Gain probability vs. loss probability	1.14	1.00	+0.14
Calmar ratio: Return relative to maximum drawdown	0.72	-0.17	+0.89
Martin ratio: Return relative to average drawdown	2.93	-0.33	+3.26

BFOCX vs. MSEQX - Sharpe Ratio Comparison

The current BFOCX Sharpe Ratio is 0.53, which is higher than the MSEQX Sharpe Ratio of -0.16. 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.

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	-37.96%	-27.73%	-10.23%
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	-28.22%	-19.89%	-8.33%
Average Drawdown Average peak-to-trough decline	-57.93%	-16.90%	-41.03%
Ulcer Index Depth and duration of drawdowns from previous peaks	9.33%	14.38%	-5.05%

Volatility

BFOCX vs. MSEQX - Volatility Comparison

Berkshire Focus Fund (BFOCX) has a higher volatility of 27.96% compared to Morgan Stanley Growth Portfolio Class I (MSEQX) at 7.39%. 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	27.96%	7.39%	+20.57%
Volatility (6M) Calculated over the trailing 6-month period	45.59%	22.92%	+22.67%
Volatility (1Y) Calculated over the trailing 1-year period	51.33%	29.66%	+21.67%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	46.37%	39.91%	+6.46%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.23%	33.92%	+5.31%

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%	0.00%	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 0.61, 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 (27.96%) compared to MSEQX (7.39%). 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 (0.53 vs -0.16), 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.