MACGX vs. VOO
MACGX (Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A) and VOO (Vanguard S&P 500 ETF) are both funds - MACGX is a Mid Cap Growth Equities fund managed by Morgan Stanley, while VOO is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, MACGX returned 13.03%/yr vs 14.93%/yr for VOO. Their 0.70 correlation means they have sometimes moved together and sometimes differently. MACGX charges 1.00%/yr vs 0.03%/yr for VOO.
Performance
MACGX vs. VOO - Performance Comparison
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Returns By Period
In the year-to-date period, MACGX achieves a -3.13% return, which is significantly lower than VOO's 8.98% return. Over the past 10 years, MACGX has underperformed VOO with an annualized return of 13.03%, while VOO has yielded a comparatively higher 14.93% annualized return.
MACGX
- 1D
- -0.19%
- 1M
- -3.02%
- 6M
- -4.00%
- YTD
- -3.13%
- 1Y
- -11.41%
- 3Y*
- 19.23%
- 5Y*
- -7.12%
- 10Y*
- 13.03%
- ALL TIME*
- 9.63%
VOO
- 1D
- 0.03%
- 1M
- 1.35%
- 6M
- 7.28%
- YTD
- 8.98%
- 1Y
- 17.38%
- 3Y*
- 18.94%
- 5Y*
- 12.57%
- 10Y*
- 14.93%
- ALL TIME*
- 14.72%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $3.33B | $3.89B | $5.42B |
MACGX vs. VOO - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MACGX Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A | -3.13% | 13.71% | 42.06% | 46.30% | -63.51% | -12.84% | 142.01% | 39.41% | 11.85% | 38.99% |
VOO Vanguard S&P 500 ETF | 8.98% | 17.82% | 24.98% | 26.32% | -18.17% | 28.79% | 18.32% | 31.37% | -4.50% | 21.77% |
Correlation
The correlation between MACGX and VOO is 0.67, 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. | 0.67 |
Correlation (3Y) Balances recent behavior with more history. | 0.69 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.71 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.66 |
Correlation (All Time) Calculated using the full available price history since Sep 9, 2010 | 0.70 |
The correlation between MACGX and VOO has been stable across timeframes, ranging from 0.66 to 0.71 - a consistent structural relationship.
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Return for Risk
MACGX vs. VOO — Risk / Return Rank
MACGX
VOO
MACGX vs. VOO - 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 Vanguard S&P 500 ETF (VOO). 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 | VOO | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.76 | ||
| Sortino ratioReturn per unit of downside risk | -2.30 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.25 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | -0.40 | 1.96 | -2.36 |
| Martin ratioReturn relative to average drawdown | -0.79 | 8.43 | -9.22 |
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Drawdowns
MACGX vs. VOO - Drawdown Comparison
The maximum MACGX drawdown since its inception was -77.61%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for MACGX and VOO.
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Drawdown Indicators
| MACGX | VOO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.61% | -33.99% | -43.62% |
Max Drawdown (1Y)Largest decline over 1 year | -27.55% | -8.90% | -18.65% |
Max Drawdown (3Y)Largest decline over 3 years | -28.55% | -18.69% | -9.86% |
Max Drawdown (5Y)Largest decline over 5 years | -77.61% | -24.52% | -53.09% |
Max Drawdown (10Y)Largest decline over 10 years | -77.61% | -33.99% | -43.62% |
Current DrawdownCurrent decline from peak | -46.15% | -2.43% | -43.72% |
Average DrawdownAverage peak-to-trough decline | -25.73% | -3.67% | -22.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.80% | 2.07% | +11.73% |
Volatility
MACGX vs. VOO - Volatility Comparison
Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A (MACGX) has a higher volatility of 6.84% compared to Vanguard S&P 500 ETF (VOO) at 3.22%. This indicates that MACGX's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MACGX | VOO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.84% | 3.22% | +3.62% |
Volatility (6M)Calculated over the trailing 6-month period | 22.01% | 9.84% | +12.17% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.96% | 12.64% | +16.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.39% | 16.91% | +31.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.45% | 18.01% | +21.44% |
MACGX vs. VOO - Expense Ratio Comparison
MACGX has a 1.00% expense ratio, which is higher than VOO's 0.03% expense ratio.
Dividends
MACGX vs. VOO - Dividend Comparison
MACGX has not paid dividends to shareholders, while VOO's dividend yield for the trailing twelve months is around 1.08%.
| 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% |
VOO Vanguard S&P 500 ETF | 1.08% | 1.13% | 1.24% | 1.46% | 1.69% | 1.25% | 1.54% | 1.88% | 2.06% | 1.78% | 2.02% | 2.10% |
Frequently Asked Questions
MACGX and VOO have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MACGX has higher volatility (6.84%) compared to VOO (3.22%). In terms of maximum drawdown, MACGX dropped -77.61% vs VOO's -33.99%.
VOO currently has the higher Sharpe Ratio (1.38 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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