GFFFX vs. MIOIX

Last updated Jun 24, 2026

GFFFX (American Funds The Growth Fund of America Class F-2) and MIOIX (Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio) are both mutual funds - GFFFX is a Large Cap Growth Equities fund actively managed by American Funds, while MIOIX is a Foreign Large Cap Equities fund managed by T. Rowe Price. Over the past 10 years, GFFFX returned 16.52%/yr vs 10.91%/yr for MIOIX. A 0.79 correlation means they provide meaningful diversification when combined. GFFFX charges 0.40%/yr vs 1.00%/yr for MIOIX.

Performance

GFFFX vs. MIOIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in American Funds The Growth Fund of America Class F-2 (GFFFX) and Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio (MIOIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, GFFFX achieves a 8.83% return, which is significantly lower than MIOIX's 9.38% return. Over the past 10 years, GFFFX has outperformed MIOIX with an annualized return of 16.52%, while MIOIX has yielded a comparatively lower 10.91% annualized return.

GFFFX

• 1D: -0.52%
• 1M: 1.98%
• YTD: 8.83%
• 6M: 7.92%
• 1Y: 23.03%
• 3Y*: 24.19%
• 5Y*: 11.70%
• 10Y*: 16.52%

MIOIX

• 1D: -0.37%
• 1M: 7.15%
• YTD: 9.38%
• 6M: 8.61%
• 1Y: 9.01%
• 3Y*: 14.62%
• 5Y*: -1.80%
• 10Y*: 10.91%

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

GFFFX vs. MIOIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
GFFFX American Funds The Growth Fund of America Class F-2	8.83%	19.96%	28.28%	37.51%	-30.61%	19.55%	38.16%	28.43%	-2.96%	26.38%
MIOIX Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio	9.38%	12.64%	19.32%	21.11%	-43.76%	-5.25%	55.49%	35.20%	-12.03%	53.41%

Correlation

The correlation between GFFFX and MIOIX is 0.84, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.84
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Mar 31, 2010	0.79

The correlation between GFFFX and MIOIX has been stable across timeframes, ranging from 0.79 to 0.84 - a consistent structural relationship.

Return for Risk

GFFFX vs. MIOIX — Risk / Return Rank

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

GFFFX

GFFFX Risk / Return Rank: 30
GFFFX Sharpe Ratio Rank: 31
GFFFX Sortino Ratio Rank: 29
GFFFX Omega Ratio Rank: 31
GFFFX Calmar Ratio Rank: 26
GFFFX Martin Ratio Rank: 32

MIOIX

MIOIX Risk / Return Rank: 7
MIOIX Sharpe Ratio Rank: 6
MIOIX Sortino Ratio Rank: 7
MIOIX Omega Ratio Rank: 7
MIOIX Calmar Ratio Rank: 6
MIOIX 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.

GFFFX vs. MIOIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for American Funds The Growth Fund of America Class F-2 (GFFFX) and Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio (MIOIX). 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.

	GFFFX	MIOIX	Difference
Sharpe ratio: Return per unit of total volatility	1.49	0.47	+1.03
Sortino ratio: Return per unit of downside risk	2.06	0.79	+1.28
Omega ratio: Gain probability vs. loss probability	1.27	1.10	+0.17
Calmar ratio: Return relative to maximum drawdown	1.77	0.54	+1.23
Martin ratio: Return relative to average drawdown	6.78	1.67	+5.11

GFFFX vs. MIOIX - Sharpe Ratio Comparison

The current GFFFX Sharpe Ratio is 1.49, which is higher than the MIOIX Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of GFFFX and MIOIX, 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

GFFFX vs. MIOIX - Drawdown Comparison

The maximum GFFFX drawdown since its inception was -36.26%, smaller than the maximum MIOIX drawdown of -60.88%. Use the drawdown chart below to compare losses from any high point for GFFFX and MIOIX.

Drawdown Indicators

	GFFFX	MIOIX	Difference
Max Drawdown Largest peak-to-trough decline	-36.26%	-60.88%	+24.62%
Max Drawdown (1Y) Largest decline over 1 year	-13.74%	-18.50%	+4.76%
Max Drawdown (3Y) Largest decline over 3 years	-21.55%	-19.42%	-2.13%
Max Drawdown (5Y) Largest decline over 5 years	-36.26%	-56.75%	+20.49%
Max Drawdown (10Y) Largest decline over 10 years	-36.26%	-60.88%	+24.62%
Current Drawdown Current decline from peak	-1.55%	-19.66%	+18.11%
Average Drawdown Average peak-to-trough decline	-5.56%	-15.83%	+10.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.58%	5.98%	-2.40%

Volatility

GFFFX vs. MIOIX - Volatility Comparison

The current volatility for American Funds The Growth Fund of America Class F-2 (GFFFX) is 6.79%, while Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio (MIOIX) has a volatility of 10.32%. This indicates that GFFFX experiences smaller price fluctuations and is considered to be less risky than MIOIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	GFFFX	MIOIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.79%	10.32%	-3.53%
Volatility (6M) Calculated over the trailing 6-month period	13.02%	18.86%	-5.84%
Volatility (1Y) Calculated over the trailing 1-year period	16.31%	21.55%	-5.24%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	20.43%	25.38%	-4.95%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.78%	22.30%	-2.52%

GFFFX vs. MIOIX - Expense Ratio Comparison

GFFFX has a 0.40% expense ratio, which is lower than MIOIX's 1.00% expense ratio.

Dividends

GFFFX vs. MIOIX - Dividend Comparison

GFFFX's dividend yield for the trailing twelve months is around 10.06%, while MIOIX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
GFFFX American Funds The Growth Fund of America Class F-2	10.06%	10.95%	9.23%	7.64%	4.32%	8.42%	4.51%	7.38%	12.29%	7.27%	6.87%	9.13%
MIOIX Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio	0.00%	0.00%	0.16%	0.00%	9.25%	2.13%	0.24%	0.00%	0.24%	1.63%	0.02%	3.15%

Frequently Asked Questions

Can I hold both GFFFX and MIOIX in my portfolio?

GFFFX and MIOIX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, GFFFX or MIOIX?

MIOIX has higher volatility (10.32%) compared to GFFFX (6.79%). In terms of maximum drawdown, GFFFX dropped -36.26% vs MIOIX's -60.88%.

Which has better risk-adjusted returns?

GFFFX currently has the higher Sharpe Ratio (1.49 vs 0.47), 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.