CPOAX vs. MEGIX

Last updated Jun 4, 2026

CPOAX (Morgan Stanley Insight A) and MEGIX (Morgan Stanley Growth Portfolio) are both Large Cap Growth Equities funds from Morgan Stanley. Over the past 5 years, CPOAX returned 0.26%/yr vs 2.96%/yr for MEGIX. With a 0.99 correlation, they move nearly in lockstep. CPOAX charges 1.15%/yr vs 0.57%/yr for MEGIX.

Performance

CPOAX vs. MEGIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Insight A (CPOAX) and Morgan Stanley Growth Portfolio (MEGIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CPOAX achieves a 4.60% return, which is significantly higher than MEGIX's -1.13% return.

CPOAX

• 1D: -1.26%
• 1M: 6.92%
• YTD: 4.60%
• 6M: 1.21%
• 1Y: 13.31%
• 3Y*: 29.62%
• 5Y*: 0.26%
• 10Y*: 17.14%

MEGIX

• 1D: -1.57%
• 1M: 4.37%
• YTD: -1.13%
• 6M: -3.24%
• 1Y: 8.29%
• 3Y*: 32.57%
• 5Y*: 2.96%
• 10Y*: —

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

CPOAX vs. MEGIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CPOAX Morgan Stanley Insight A	4.60%	18.91%	46.35%	52.72%	-61.02%	-6.83%	115.86%	33.08%	11.94%	34.21%
MEGIX Morgan Stanley Growth Portfolio	-1.13%	35.72%	46.59%	48.66%	-60.94%	-0.20%	117.49%	31.82%	7.73%	19.35%

Correlation

The correlation between CPOAX and MEGIX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.99
Correlation (3Y) Calculated over the trailing 3-year period	0.99
Correlation (5Y) Calculated over the trailing 5-year period	0.99
Correlation (All Time) Calculated using the full available price history since Feb 2, 2017	0.99

The correlation between CPOAX and MEGIX has been stable across timeframes, ranging from 0.99 to 0.99 - a consistent structural relationship.

Return for Risk

CPOAX vs. MEGIX — Risk / Return Rank

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

CPOAX

CPOAX Risk / Return Rank: 6
CPOAX Sharpe Ratio Rank: 6
CPOAX Sortino Ratio Rank: 7
CPOAX Omega Ratio Rank: 7
CPOAX Calmar Ratio Rank: 5
CPOAX Martin Ratio Rank: 5

MEGIX

MEGIX Risk / Return Rank: 4
MEGIX Sharpe Ratio Rank: 4
MEGIX Sortino Ratio Rank: 5
MEGIX Omega Ratio Rank: 5
MEGIX Calmar Ratio Rank: 4
MEGIX 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.

CPOAX vs. MEGIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Insight A (CPOAX) 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.

	CPOAX	MEGIX	Difference
Sharpe ratio: Return per unit of total volatility	0.49	0.32	+0.18
Sortino ratio: Return per unit of downside risk	0.86	0.63	+0.23
Omega ratio: Gain probability vs. loss probability	1.10	1.07	+0.03
Calmar ratio: Return relative to maximum drawdown	0.50	0.32	+0.18
Martin ratio: Return relative to average drawdown	1.08	0.69	+0.39
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CPOAX vs. MEGIX - Sharpe Ratio Comparison

The current CPOAX Sharpe Ratio is 0.49, which is higher than the MEGIX Sharpe Ratio of 0.32. The chart below compares the historical Sharpe Ratios of CPOAX and MEGIX, 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

	CPOAX	MEGIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.49	0.32	+0.18
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	0.07	-0.07
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.50	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.48	-0.13

Drawdowns

CPOAX vs. MEGIX - Drawdown Comparison

The maximum CPOAX drawdown since its inception was -84.57%, which is greater than MEGIX's maximum drawdown of -69.99%. Use the drawdown chart below to compare losses from any high point for CPOAX and MEGIX.

Drawdown Indicators

	CPOAX	MEGIX	Difference
Max Drawdown Largest peak-to-trough decline	-84.57%	-69.99%	-14.58%
Max Drawdown (1Y) Largest decline over 1 year	-28.37%	-28.03%	-0.34%
Max Drawdown (3Y) Largest decline over 3 years	-31.38%	-32.12%	+0.74%
Max Drawdown (5Y) Largest decline over 5 years	-70.73%	-69.99%	-0.74%
Max Drawdown (10Y) Largest decline over 10 years	-71.33%	—	—
Current Drawdown Current decline from peak	-17.08%	-11.94%	-5.14%
Average Drawdown Average peak-to-trough decline	-39.22%	-23.05%	-16.17%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.13%	12.99%	+0.14%

Volatility

CPOAX vs. MEGIX - Volatility Comparison

Morgan Stanley Insight A (CPOAX) and Morgan Stanley Growth Portfolio (MEGIX) have volatilities of 8.49% and 8.29%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPOAX	MEGIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.49%	8.29%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	21.71%	21.65%	+0.06%
Volatility (1Y) Calculated over the trailing 1-year period	28.66%	28.17%	+0.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.75%	39.80%	-0.05%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.08%	34.70%	-0.62%

CPOAX vs. MEGIX - Expense Ratio Comparison

CPOAX has a 1.15% expense ratio, which is higher than MEGIX's 0.57% expense ratio.

Dividends

CPOAX vs. MEGIX - Dividend Comparison

Neither CPOAX nor MEGIX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CPOAX Morgan Stanley Insight A	0.00%	0.00%	0.61%	0.00%	51.84%	14.94%	9.06%	7.29%	9.33%	28.73%	9.83%	8.92%
MEGIX Morgan Stanley Growth Portfolio	0.00%	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

Can I hold both CPOAX and MEGIX in my portfolio?

With a correlation of 0.99, CPOAX and MEGIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, CPOAX or MEGIX?

CPOAX has higher volatility (8.49%) compared to MEGIX (8.29%). In terms of maximum drawdown, CPOAX dropped -84.57% vs MEGIX's -69.99%.

Which has better risk-adjusted returns?

CPOAX currently has the higher Sharpe Ratio (0.49 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.