CAF vs. MEGIX
CAF (Morgan Stanley China A Share Fund) and MEGIX (Morgan Stanley Growth Portfolio) are both mutual funds - CAF is a China Equities fund actively managed by Morgan Stanley, while MEGIX is a Large Cap Growth Equities fund managed by Morgan Stanley. Over the past 5 years, CAF returned -0.15%/yr vs -1.72%/yr for MEGIX. Their 0.32 correlation means their historical movements had little consistent relationship. CAF charges 1.67%/yr vs 0.57%/yr for MEGIX.
Performance
CAF vs. MEGIX - Performance Comparison
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Returns By Period
In the year-to-date period, CAF achieves a 8.47% return, which is significantly higher than MEGIX's -10.79% return.
CAF
- 1D
- -1.67%
- 1M
- -8.59%
- 6M
- 3.80%
- YTD
- 8.47%
- 1Y
- 37.10%
- 3Y*
- 14.27%
- 5Y*
- -0.15%
- 10Y*
- 4.77%
- ALL TIME*
- 8.91%
MEGIX
- 1D
- -2.16%
- 1M
- -8.12%
- 6M
- -2.53%
- YTD
- -10.79%
- 1Y
- -6.05%
- 3Y*
- 23.24%
- 5Y*
- -1.72%
- 10Y*
- —
- ALL TIME*
- 15.07%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $536.29K | $436.86K | $582.49K | |
| $0.00 | $0.00 | $0.00 |
CAF vs. MEGIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CAF Morgan Stanley China A Share Fund | 8.47% | 41.51% | 0.34% | -9.39% | -30.41% | -1.77% | 12.74% | 23.50% | -14.26% | 36.73% |
MEGIX Morgan Stanley Growth Portfolio | -10.79% | 35.72% | 46.59% | 48.66% | -60.94% | -0.20% | 117.49% | 31.82% | 7.73% | 19.35% |
Correlation
The correlation between CAF and MEGIX is 0.29, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.29 |
Correlation (3Y) Balances recent behavior with more history. | 0.23 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.28 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017 | 0.32 |
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Return for Risk
CAF vs. MEGIX — Risk / Return Rank
CAF
MEGIX
CAF vs. MEGIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley China A Share Fund (CAF) and Morgan Stanley Growth Portfolio (MEGIX). 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.
| CAF | MEGIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.11 | ||
| Sortino ratioReturn per unit of downside risk | +2.73 | ||
| Omega ratioGain probability vs. loss probability | 1.32 | 0.97 | +0.34 |
| Calmar ratioReturn relative to maximum drawdown | 3.18 | -0.34 | +3.52 |
| Martin ratioReturn relative to average drawdown | 9.22 | -0.65 | +9.87 |
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Drawdowns
CAF vs. MEGIX - Drawdown Comparison
The maximum CAF drawdown since its inception was -65.88%, smaller than the maximum MEGIX drawdown of -69.99%. Use the drawdown chart below to compare losses from any high point for CAF and MEGIX.
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Drawdown Indicators
| CAF | MEGIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -65.88% | -69.99% | +4.11% |
Max Drawdown (1Y)Largest decline over 1 year | -11.72% | -28.03% | +16.31% |
Max Drawdown (3Y)Largest decline over 3 years | -26.27% | -32.12% | +5.85% |
Max Drawdown (5Y)Largest decline over 5 years | -45.26% | -69.99% | +24.73% |
Max Drawdown (10Y)Largest decline over 10 years | -49.01% | — | — |
Current DrawdownCurrent decline from peak | -11.72% | -20.54% | +8.82% |
Average DrawdownAverage peak-to-trough decline | -25.75% | -22.93% | -2.82% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.03% | 14.69% | -10.66% |
Volatility
CAF vs. MEGIX - Volatility Comparison
Morgan Stanley China A Share Fund (CAF) has a higher volatility of 8.03% compared to Morgan Stanley Growth Portfolio (MEGIX) at 7.39%. This indicates that CAF's price experiences larger fluctuations and is considered to be riskier than MEGIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CAF | MEGIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.03% | 7.39% | +0.64% |
Volatility (6M)Calculated over the trailing 6-month period | 15.35% | 23.37% | -8.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.86% | 30.00% | -9.14% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.70% | 40.01% | -18.31% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.98% | 34.65% | -12.67% |
CAF vs. MEGIX - Expense Ratio Comparison
CAF has a 1.67% expense ratio, which is higher than MEGIX's 0.57% expense ratio.
Dividends
CAF vs. MEGIX - Dividend Comparison
CAF's dividend yield for the trailing twelve months is around 1.40%, less than MEGIX's 12.65% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CAF Morgan Stanley China A Share Fund | 1.40% | 1.51% | 2.63% | 0.96% | 0.02% | 6.57% | 10.40% | 3.78% | 9.48% | 5.20% | 4.69% | 67.03% |
MEGIX Morgan Stanley Growth Portfolio | 12.65% | 0.00% | 0.00% | 0.00% | 163.32% | 34.82% | 7.97% | 5.35% | 24.32% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
CAF and MEGIX have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
CAF has higher volatility (8.03%) compared to MEGIX (7.39%). In terms of maximum drawdown, CAF dropped -65.88% vs MEGIX's -69.99%.
CAF currently has the higher Sharpe Ratio (1.79 vs -0.32), 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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