MACGX vs. FXAIX
Compare and contrast key facts about Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A (MACGX) and Fidelity 500 Index Fund (FXAIX).
MACGX is managed by Morgan Stanley. It was launched on Mar 30, 1990. FXAIX is a passively managed fund by Fidelity that tracks the performance of the S&P 500 Index. It was launched on Feb 17, 1988.
Performance
MACGX vs. FXAIX - Performance Comparison
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MACGX vs. FXAIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MACGX Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A | -11.39% | 13.71% | 42.06% | 46.30% | -63.51% | -12.84% | 142.01% | 39.41% | 11.85% | 38.99% |
FXAIX Fidelity 500 Index Fund | -4.34% | 17.84% | 25.01% | 26.29% | -18.14% | 28.71% | 18.42% | 31.48% | -4.43% | 21.82% |
Returns By Period
In the year-to-date period, MACGX achieves a -11.39% return, which is significantly lower than FXAIX's -4.34% return. Over the past 10 years, MACGX has underperformed FXAIX with an annualized return of 12.76%, while FXAIX has yielded a comparatively higher 14.08% annualized return.
MACGX
- 1D
- 4.70%
- 1M
- -4.98%
- YTD
- -11.39%
- 6M
- -20.28%
- 1Y
- 6.83%
- 3Y*
- 21.48%
- 5Y*
- -7.74%
- 10Y*
- 12.76%
FXAIX
- 1D
- 2.92%
- 1M
- -5.02%
- YTD
- -4.34%
- 6M
- -2.14%
- 1Y
- 17.32%
- 3Y*
- 18.30%
- 5Y*
- 11.79%
- 10Y*
- 14.08%
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MACGX vs. FXAIX - Expense Ratio Comparison
MACGX has a 1.00% expense ratio, which is higher than FXAIX's 0.02% expense ratio.
Return for Risk
MACGX vs. FXAIX — Risk / Return Rank
MACGX
FXAIX
MACGX vs. FXAIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A (MACGX) and Fidelity 500 Index Fund (FXAIX). 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.
| MACGX | FXAIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.27 | 0.97 | -0.70 |
Sortino ratioReturn per unit of downside risk | 0.62 | 1.49 | -0.87 |
Omega ratioGain probability vs. loss probability | 1.08 | 1.23 | -0.15 |
Calmar ratioReturn relative to maximum drawdown | 0.29 | 1.52 | -1.23 |
Martin ratioReturn relative to average drawdown | 0.73 | 7.30 | -6.57 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MACGX | FXAIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.27 | 0.97 | -0.70 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.16 | 0.70 | -0.86 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | 0.78 | -0.46 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.76 | -0.46 |
Correlation
The correlation between MACGX and FXAIX is 0.70, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
MACGX vs. FXAIX - Dividend Comparison
MACGX has not paid dividends to shareholders, while FXAIX's dividend yield for the trailing twelve months is around 1.16%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MACGX Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 52.53% | 9.95% | 15.34% | 29.46% | 48.48% | 75.72% | 14.05% |
FXAIX Fidelity 500 Index Fund | 1.16% | 1.11% | 1.25% | 1.45% | 1.69% | 1.22% | 1.60% | 2.06% | 2.72% | 1.97% | 2.52% | 2.83% |
Drawdowns
MACGX vs. FXAIX - Drawdown Comparison
The maximum MACGX drawdown since its inception was -77.61%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for MACGX and FXAIX.
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Drawdown Indicators
| MACGX | FXAIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.61% | -33.79% | -43.82% |
Max Drawdown (1Y)Largest decline over 1 year | -27.55% | -12.13% | -15.42% |
Max Drawdown (5Y)Largest decline over 5 years | -77.61% | -24.50% | -53.11% |
Max Drawdown (10Y)Largest decline over 10 years | -77.61% | -33.79% | -43.82% |
Current DrawdownCurrent decline from peak | -50.74% | -6.23% | -44.51% |
Average DrawdownAverage peak-to-trough decline | -25.53% | -3.83% | -21.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.93% | 2.53% | +8.40% |
Volatility
MACGX vs. FXAIX - Volatility Comparison
Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A (MACGX) has a higher volatility of 9.52% compared to Fidelity 500 Index Fund (FXAIX) at 5.34%. This indicates that MACGX's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MACGX | FXAIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.52% | 5.34% | +4.18% |
Volatility (6M)Calculated over the trailing 6-month period | 22.32% | 9.53% | +12.79% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.22% | 18.32% | +13.90% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.42% | 16.92% | +31.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.21% | 18.05% | +21.16% |