MACGX vs. XMMO
Compare and contrast key facts about Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A (MACGX) and Invesco S&P MidCap Momentum ETF (XMMO).
MACGX is managed by Morgan Stanley. It was launched on Mar 30, 1990. XMMO is a passively managed fund by Invesco that tracks the performance of the S&P MidCap 400 Index. It was launched on Mar 3, 2005.
Performance
MACGX vs. XMMO - Performance Comparison
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MACGX vs. XMMO - 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% |
XMMO Invesco S&P MidCap Momentum ETF | 6.86% | 13.04% | 38.03% | 20.39% | -16.02% | 16.69% | 29.17% | 36.78% | 6.12% | 37.18% |
Returns By Period
In the year-to-date period, MACGX achieves a -11.39% return, which is significantly lower than XMMO's 6.86% return. Over the past 10 years, MACGX has underperformed XMMO with an annualized return of 12.76%, while XMMO has yielded a comparatively higher 18.41% 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%
XMMO
- 1D
- 1.85%
- 1M
- -2.62%
- YTD
- 6.86%
- 6M
- 9.51%
- 1Y
- 29.37%
- 3Y*
- 25.85%
- 5Y*
- 12.62%
- 10Y*
- 18.41%
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MACGX vs. XMMO - Expense Ratio Comparison
MACGX has a 1.00% expense ratio, which is higher than XMMO's 0.33% expense ratio.
Return for Risk
MACGX vs. XMMO — Risk / Return Rank
MACGX
XMMO
MACGX vs. XMMO - 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 Invesco S&P MidCap Momentum ETF (XMMO). 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 | XMMO | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.27 | 1.34 | -1.07 |
Sortino ratioReturn per unit of downside risk | 0.62 | 1.91 | -1.29 |
Omega ratioGain probability vs. loss probability | 1.08 | 1.27 | -0.19 |
Calmar ratioReturn relative to maximum drawdown | 0.29 | 2.41 | -2.12 |
Martin ratioReturn relative to average drawdown | 0.73 | 11.42 | -10.70 |
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 | XMMO | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.27 | 1.34 | -1.07 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.16 | 0.60 | -0.76 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.33 | 0.83 | -0.51 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.55 | -0.24 |
Correlation
The correlation between MACGX and XMMO is 0.77, 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. XMMO - Dividend Comparison
MACGX has not paid dividends to shareholders, while XMMO's dividend yield for the trailing twelve months is around 0.70%.
| 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% |
XMMO Invesco S&P MidCap Momentum ETF | 0.70% | 0.78% | 0.34% | 0.80% | 1.43% | 0.41% | 0.61% | 0.60% | 0.19% | 0.21% | 0.22% | 0.64% |
Drawdowns
MACGX vs. XMMO - Drawdown Comparison
The maximum MACGX drawdown since its inception was -77.61%, which is greater than XMMO's maximum drawdown of -55.37%. Use the drawdown chart below to compare losses from any high point for MACGX and XMMO.
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Drawdown Indicators
| MACGX | XMMO | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -77.61% | -55.37% | -22.24% |
Max Drawdown (1Y)Largest decline over 1 year | -27.55% | -12.81% | -14.74% |
Max Drawdown (5Y)Largest decline over 5 years | -77.61% | -27.91% | -49.70% |
Max Drawdown (10Y)Largest decline over 10 years | -77.61% | -36.74% | -40.87% |
Current DrawdownCurrent decline from peak | -50.74% | -2.62% | -48.12% |
Average DrawdownAverage peak-to-trough decline | -25.53% | -9.52% | -16.01% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 10.93% | 2.70% | +8.23% |
Volatility
MACGX vs. XMMO - Volatility Comparison
Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A (MACGX) has a higher volatility of 9.52% compared to Invesco S&P MidCap Momentum ETF (XMMO) at 9.04%. This indicates that MACGX's price experiences larger fluctuations and is considered to be riskier than XMMO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MACGX | XMMO | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.52% | 9.04% | +0.48% |
Volatility (6M)Calculated over the trailing 6-month period | 22.32% | 14.39% | +7.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.22% | 22.03% | +10.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 48.42% | 21.27% | +27.15% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.21% | 22.11% | +17.10% |