MACGX vs. PMEGX
MACGX (Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A) and PMEGX (T. Rowe Price Institutional Mid Cap Equity Growth Fund) are both Mid Cap Growth Equities funds. Over the past 10 years, MACGX returned 13.16%/yr vs 9.86%/yr for PMEGX. Their correlation of 0.84 means they have usually moved in the same direction. MACGX charges 1.00%/yr vs 0.61%/yr for PMEGX.
Performance
MACGX vs. PMEGX - Performance Comparison
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Returns By Period
In the year-to-date period, MACGX achieves a -2.11% return, which is significantly lower than PMEGX's 2.70% return. Over the past 10 years, MACGX has outperformed PMEGX with an annualized return of 13.16%, while PMEGX has yielded a comparatively lower 9.86% annualized return.
MACGX
- 1D
- -1.87%
- 1M
- -5.58%
- 6M
- 3.77%
- YTD
- -2.11%
- 1Y
- -10.82%
- 3Y*
- 18.26%
- 5Y*
- -6.21%
- 10Y*
- 13.16%
- ALL TIME*
- 9.66%
PMEGX
- 1D
- -0.32%
- 1M
- -1.84%
- 6M
- 1.64%
- YTD
- 2.70%
- 1Y
- 5.85%
- 3Y*
- 6.28%
- 5Y*
- 2.09%
- 10Y*
- 9.86%
- ALL TIME*
- 10.79%
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 |
MACGX vs. PMEGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MACGX Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A | -2.11% | 13.71% | 42.06% | 46.30% | -63.51% | -12.84% | 142.01% | 39.41% | 11.85% | 38.99% |
PMEGX T. Rowe Price Institutional Mid Cap Equity Growth Fund | 2.70% | 3.73% | 9.15% | 20.69% | -23.19% | 15.50% | 23.95% | 33.08% | -2.23% | 26.02% |
Correlation
The correlation between MACGX and PMEGX is 0.63, 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. | 0.63 |
Correlation (3Y) Balances recent behavior with more history. | 0.69 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.76 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.73 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 1997 | 0.84 |
Over the past year, the correlation between MACGX and PMEGX has dropped to 0.63 - well below their long-term average of 0.84, suggesting their price drivers have been diverging.
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Return for Risk
MACGX vs. PMEGX — Risk / Return Rank
MACGX
PMEGX
MACGX vs. PMEGX - 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 T. Rowe Price Institutional Mid Cap Equity Growth Fund (PMEGX). 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.
| MACGX | PMEGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.71 | ||
| Sortino ratioReturn per unit of downside risk | -0.94 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.06 | -0.10 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | 0.44 | -0.84 |
| Martin ratioReturn relative to average drawdown | -0.79 | 1.49 | -2.28 |
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Drawdowns
MACGX vs. PMEGX - Drawdown Comparison
The maximum MACGX drawdown since its inception was -77.61%, which is greater than PMEGX's maximum drawdown of -55.88%. Use the drawdown chart below to compare losses from any high point for MACGX and PMEGX.
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Drawdown Indicators
| MACGX | PMEGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.61% | -55.88% | -21.73% |
Max Drawdown (1Y)Largest decline over 1 year | -27.55% | -10.21% | -17.34% |
Max Drawdown (3Y)Largest decline over 3 years | -28.55% | -27.99% | -0.56% |
Max Drawdown (5Y)Largest decline over 5 years | -77.61% | -32.87% | -44.74% |
Max Drawdown (10Y)Largest decline over 10 years | -77.61% | -37.16% | -40.45% |
Current DrawdownCurrent decline from peak | -45.58% | -6.50% | -39.08% |
Average DrawdownAverage peak-to-trough decline | -25.74% | -8.99% | -16.75% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.97% | 3.04% | +10.93% |
Volatility
MACGX vs. PMEGX - Volatility Comparison
Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A (MACGX) has a higher volatility of 7.00% compared to T. Rowe Price Institutional Mid Cap Equity Growth Fund (PMEGX) at 2.51%. This indicates that MACGX's price experiences larger fluctuations and is considered to be riskier than PMEGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MACGX | PMEGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.00% | 2.51% | +4.49% |
Volatility (6M)Calculated over the trailing 6-month period | 22.19% | 10.48% | +11.71% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.25% | 13.64% | +15.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.40% | 20.10% | +28.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.47% | 19.75% | +19.72% |
MACGX vs. PMEGX - Expense Ratio Comparison
MACGX has a 1.00% expense ratio, which is higher than PMEGX's 0.61% expense ratio.
Dividends
MACGX vs. PMEGX - Dividend Comparison
MACGX has not paid dividends to shareholders, while PMEGX's dividend yield for the trailing twelve months is around 20.54%.
| Position | 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% |
PMEGX T. Rowe Price Institutional Mid Cap Equity Growth Fund | 20.54% | 21.10% | 14.15% | 7.07% | 1.65% | 12.80% | 4.44% | 5.11% | 10.42% | 6.30% | 1.04% | 6.18% |
Frequently Asked Questions
MACGX and PMEGX have a correlation of 0.63, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MACGX has higher volatility (7.00%) compared to PMEGX (2.51%). In terms of maximum drawdown, MACGX dropped -77.61% vs PMEGX's -55.88%.
PMEGX currently has the higher Sharpe Ratio (0.33 vs -0.38), 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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