CPODX vs. MSAQX

Last updated Jun 4, 2026

CPODX (Morgan Stanley Insight Fund) and MSAQX (Morgan Stanley Institutional Fund, Inc. Asia Opportunity Portfolio) are both mutual funds - CPODX is a Large Cap Growth Equities fund managed by Morgan Stanley, while MSAQX is a Asia Pacific Equities fund managed by Morgan Stanley. Over the past 10 years, CPODX returned 17.43%/yr vs 10.88%/yr for MSAQX. A 0.51 correlation means they provide meaningful diversification when combined. CPODX charges 0.83%/yr vs 1.10%/yr for MSAQX.

Performance

CPODX vs. MSAQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Insight Fund (CPODX) and Morgan Stanley Institutional Fund, Inc. Asia Opportunity Portfolio (MSAQX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CPODX achieves a 4.72% return, which is significantly lower than MSAQX's 20.18% return. Over the past 10 years, CPODX has outperformed MSAQX with an annualized return of 17.43%, while MSAQX has yielded a comparatively lower 10.88% annualized return.

CPODX

• 1D: -1.27%
• 1M: 6.93%
• YTD: 4.72%
• 6M: 1.34%
• 1Y: 13.62%
• 3Y*: 29.95%
• 5Y*: 0.48%
• 10Y*: 17.43%

MSAQX

• 1D: 1.28%
• 1M: 13.16%
• YTD: 20.18%
• 6M: 16.23%
• 1Y: 17.11%
• 3Y*: 12.55%
• 5Y*: -3.56%
• 10Y*: 10.88%

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

CPODX vs. MSAQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
CPODX Morgan Stanley Insight Fund	4.72%	19.23%	46.73%	53.03%	-60.99%	-6.54%	116.44%	33.45%	12.29%	48.76%
MSAQX Morgan Stanley Institutional Fund, Inc. Asia Opportunity Portfolio	20.18%	2.06%	19.71%	-6.83%	-22.01%	-20.52%	52.55%	44.74%	-13.64%	76.83%

Correlation

The correlation between CPODX and MSAQX is 0.56, 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	0.56
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.54
Correlation (10Y) Calculated over the trailing 10-year period	0.51
Correlation (All Time) Calculated using the full available price history since Jan 5, 2016	0.51

The correlation between CPODX and MSAQX has been stable across timeframes, ranging from 0.50 to 0.56 - a consistent structural relationship.

Return for Risk

CPODX vs. MSAQX — Risk / Return Rank

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

CPODX

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

MSAQX

MSAQX Risk / Return Rank: 9
MSAQX Sharpe Ratio Rank: 10
MSAQX Sortino Ratio Rank: 10
MSAQX Omega Ratio Rank: 11
MSAQX Calmar Ratio Rank: 7
MSAQX Martin Ratio Rank: 7

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.

CPODX vs. MSAQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Insight Fund (CPODX) and Morgan Stanley Institutional Fund, Inc. Asia Opportunity Portfolio (MSAQX). 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.

	CPODX	MSAQX	Difference
Sharpe ratio: Return per unit of total volatility	0.50	0.78	-0.28
Sortino ratio: Return per unit of downside risk	0.88	1.20	-0.32
Omega ratio: Gain probability vs. loss probability	1.11	1.16	-0.05
Calmar ratio: Return relative to maximum drawdown	0.51	0.72	-0.21
Martin ratio: Return relative to average drawdown	1.11	1.84	-0.74
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

CPODX vs. MSAQX - Sharpe Ratio Comparison

The current CPODX Sharpe Ratio is 0.50, which is lower than the MSAQX Sharpe Ratio of 0.78. The chart below compares the historical Sharpe Ratios of CPODX and MSAQX, 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

	CPODX	MSAQX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.50	0.78	-0.28
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.01	-0.15	+0.16
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	0.49	+0.03
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.49	-0.13

Drawdowns

CPODX vs. MSAQX - Drawdown Comparison

The maximum CPODX drawdown since its inception was -84.51%, which is greater than MSAQX's maximum drawdown of -61.11%. Use the drawdown chart below to compare losses from any high point for CPODX and MSAQX.

Drawdown Indicators

	CPODX	MSAQX	Difference
Max Drawdown Largest peak-to-trough decline	-84.51%	-61.11%	-23.40%
Max Drawdown (1Y) Largest decline over 1 year	-28.28%	-23.57%	-4.71%
Max Drawdown (3Y) Largest decline over 3 years	-31.37%	-23.57%	-7.80%
Max Drawdown (5Y) Largest decline over 5 years	-70.71%	-53.29%	-17.42%
Max Drawdown (10Y) Largest decline over 10 years	-71.26%	-61.11%	-10.15%
Current Drawdown Current decline from peak	-16.09%	-30.78%	+14.69%
Average Drawdown Average peak-to-trough decline	-38.46%	-24.42%	-14.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.06%	9.13%	+3.93%

Volatility

CPODX vs. MSAQX - Volatility Comparison

The current volatility for Morgan Stanley Insight Fund (CPODX) is 8.49%, while Morgan Stanley Institutional Fund, Inc. Asia Opportunity Portfolio (MSAQX) has a volatility of 9.27%. This indicates that CPODX experiences smaller price fluctuations and is considered to be less risky than MSAQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	CPODX	MSAQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.49%	9.27%	-0.78%
Volatility (6M) Calculated over the trailing 6-month period	21.71%	18.83%	+2.88%
Volatility (1Y) Calculated over the trailing 1-year period	28.66%	21.61%	+7.05%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.74%	24.54%	+15.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.08%	22.38%	+11.70%

CPODX vs. MSAQX - Expense Ratio Comparison

CPODX has a 0.83% expense ratio, which is lower than MSAQX's 1.10% expense ratio.

Dividends

CPODX vs. MSAQX - Dividend Comparison

Neither CPODX nor MSAQX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
CPODX Morgan Stanley Insight Fund	0.00%	0.00%	0.64%	0.00%	41.78%	12.90%	7.97%	6.49%	8.40%	26.14%	9.16%	8.38%
MSAQX Morgan Stanley Institutional Fund, Inc. Asia Opportunity Portfolio	0.00%	0.00%	1.82%	0.26%	0.00%	0.88%	1.06%	0.05%	0.69%	1.12%	2.24%	0.00%

Frequently Asked Questions

Can I hold both CPODX and MSAQX in my portfolio?

CPODX and MSAQX have a correlation of 0.56, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, CPODX or MSAQX?

MSAQX has higher volatility (9.27%) compared to CPODX (8.49%). In terms of maximum drawdown, CPODX dropped -84.51% vs MSAQX's -61.11%.

Which has better risk-adjusted returns?

MSAQX currently has the higher Sharpe Ratio (0.78 vs 0.50), 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.