IAXIX vs. MMGPX
IAXIX (VY T. Rowe Price Diversified Mid Cap Growth Portfolio) and MMGPX (Morgan Stanley Discovery Portfolio) are both Mid Cap Growth Equities funds. Over the past 5 years, IAXIX returned 5.34%/yr vs -6.51%/yr for MMGPX. Their 0.80 correlation means they have sometimes moved together and sometimes differently. IAXIX charges 0.78%/yr vs 0.04%/yr for MMGPX.
Performance
IAXIX vs. MMGPX - Performance Comparison
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Returns By Period
In the year-to-date period, IAXIX achieves a 2.00% return, which is significantly higher than MMGPX's -2.74% return.
IAXIX
- 1D
- -0.27%
- 1M
- -3.86%
- 6M
- 1.72%
- YTD
- 2.00%
- 1Y
- -0.72%
- 3Y*
- 12.70%
- 5Y*
- 5.34%
- 10Y*
- 12.41%
- ALL TIME*
- 9.55%
MMGPX
- 1D
- -1.80%
- 1M
- -5.59%
- 6M
- 3.05%
- YTD
- -2.74%
- 1Y
- -12.13%
- 3Y*
- 17.27%
- 5Y*
- -6.51%
- 10Y*
- —
- ALL TIME*
- 14.64%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
IAXIX vs. MMGPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
IAXIX VY T. Rowe Price Diversified Mid Cap Growth Portfolio | 2.00% | 10.02% | 23.56% | 20.96% | -24.03% | 13.90% | 31.84% | 37.03% | -3.25% | 20.73% |
MMGPX Morgan Stanley Discovery Portfolio | -2.74% | 12.58% | 41.83% | 44.34% | -63.37% | -11.55% | 152.67% | 40.20% | 10.89% | 28.18% |
Correlation
The correlation between IAXIX and MMGPX is 0.71, 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. | 0.71 |
Correlation (3Y) Balances recent behavior with more history. | 0.74 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.80 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017 | 0.80 |
The correlation between IAXIX and MMGPX has been stable across timeframes, ranging from 0.71 to 0.80 - a consistent structural relationship.
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Return for Risk
IAXIX vs. MMGPX — Risk / Return Rank
IAXIX
MMGPX
IAXIX vs. MMGPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VY T. Rowe Price Diversified Mid Cap Growth Portfolio (IAXIX) and Morgan Stanley Discovery Portfolio (MMGPX). 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.
| IAXIX | MMGPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.39 | ||
| Sortino ratioReturn per unit of downside risk | +0.50 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 0.95 | +0.06 |
| Calmar ratioReturn relative to maximum drawdown | -0.05 | -0.45 | +0.39 |
| Martin ratioReturn relative to average drawdown | -0.16 | -0.85 | +0.69 |
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Drawdowns
IAXIX vs. MMGPX - Drawdown Comparison
The maximum IAXIX drawdown since its inception was -57.55%, smaller than the maximum MMGPX drawdown of -75.38%. Use the drawdown chart below to compare losses from any high point for IAXIX and MMGPX.
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Drawdown Indicators
| IAXIX | MMGPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -57.55% | -75.38% | +17.83% |
Max Drawdown (1Y)Largest decline over 1 year | -14.20% | -27.79% | +13.59% |
Max Drawdown (3Y)Largest decline over 3 years | -25.22% | -29.27% | +4.05% |
Max Drawdown (5Y)Largest decline over 5 years | -35.55% | -72.70% | +37.15% |
Max Drawdown (10Y)Largest decline over 10 years | -35.92% | — | — |
Current DrawdownCurrent decline from peak | -6.11% | -41.88% | +35.77% |
Average DrawdownAverage peak-to-trough decline | -9.22% | -30.40% | +21.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.67% | 14.51% | -9.84% |
Volatility
IAXIX vs. MMGPX - Volatility Comparison
The current volatility for VY T. Rowe Price Diversified Mid Cap Growth Portfolio (IAXIX) is 5.23%, while Morgan Stanley Discovery Portfolio (MMGPX) has a volatility of 6.82%. This indicates that IAXIX experiences smaller price fluctuations and is considered to be less risky than MMGPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| IAXIX | MMGPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.23% | 6.82% | -1.59% |
Volatility (6M)Calculated over the trailing 6-month period | 14.49% | 21.95% | -7.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.48% | 28.95% | -10.47% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 22.72% | 39.82% | -17.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.62% | 35.11% | -13.49% |
IAXIX vs. MMGPX - Expense Ratio Comparison
IAXIX has a 0.78% expense ratio, which is higher than MMGPX's 0.04% expense ratio.
Dividends
IAXIX vs. MMGPX - Dividend Comparison
IAXIX's dividend yield for the trailing twelve months is around 14.53%, while MMGPX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
IAXIX VY T. Rowe Price Diversified Mid Cap Growth Portfolio | 14.53% | 14.82% | 10.16% | 0.13% | 33.01% | 16.53% | 7.02% | 10.49% | 11.65% | 7.56% | 13.36% | 17.67% |
MMGPX Morgan Stanley Discovery Portfolio | 0.00% | 0.43% | 0.00% | 0.00% | 125.40% | 64.53% | 7.93% | 15.63% | 28.02% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IAXIX and MMGPX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MMGPX has higher volatility (6.82%) compared to IAXIX (5.23%). In terms of maximum drawdown, IAXIX dropped -57.55% vs MMGPX's -75.38%.
IAXIX currently has the higher Sharpe Ratio (-0.04 vs -0.43), 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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