MEGIX vs. SWPPX

Last updated Jun 17, 2026

MEGIX (Morgan Stanley Growth Portfolio) and SWPPX (Schwab S&P 500 Index Fund) are both mutual funds - MEGIX is a Large Cap Growth Equities fund managed by Morgan Stanley, while SWPPX is a Large Cap Blend Equities fund tracking the S&P 500 Index. Over the past 5 years, MEGIX returned 1.13%/yr vs 13.93%/yr for SWPPX. A 0.69 correlation means they provide meaningful diversification when combined. MEGIX charges 0.57%/yr vs 0.02%/yr for SWPPX.

Performance

MEGIX vs. SWPPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Growth Portfolio (MEGIX) and Schwab S&P 500 Index Fund (SWPPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MEGIX achieves a -4.48% return, which is significantly lower than SWPPX's 10.95% return.

MEGIX

• 1D: 5.05%
• 1M: 3.72%
• YTD: -4.48%
• 6M: -6.80%
• 1Y: 3.72%
• 3Y*: 28.92%
• 5Y*: 1.13%
• 10Y*: —

SWPPX

• 1D: 1.67%
• 1M: 2.10%
• YTD: 10.95%
• 6M: 11.77%
• 1Y: 26.70%
• 3Y*: 21.25%
• 5Y*: 13.93%
• 10Y*: 15.70%

*Multi-year figures are annualized to reflect compound growth (CAGR)

MEGIX vs. SWPPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MEGIX Morgan Stanley Growth Portfolio	-4.48%	35.72%	46.59%	48.66%	-60.94%	-0.20%	117.49%	31.82%	7.73%	19.35%
SWPPX Schwab S&P 500 Index Fund	10.95%	17.87%	24.96%	26.26%	-18.14%	28.67%	18.38%	31.46%	-4.47%	19.55%

Correlation

The correlation between MEGIX and SWPPX is 0.68, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.68
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.72
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017	0.69

The correlation between MEGIX and SWPPX has been stable across timeframes, ranging from 0.68 to 0.73 - a consistent structural relationship.

Return for Risk

MEGIX vs. SWPPX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MEGIX

MEGIX Risk / Return Rank: 4
MEGIX Sharpe Ratio Rank: 4
MEGIX Sortino Ratio Rank: 5
MEGIX Omega Ratio Rank: 5
MEGIX Calmar Ratio Rank: 4
MEGIX Martin Ratio Rank: 4

SWPPX

SWPPX Risk / Return Rank: 78
SWPPX Sharpe Ratio Rank: 79
SWPPX Sortino Ratio Rank: 72
SWPPX Omega Ratio Rank: 73
SWPPX Calmar Ratio Rank: 78
SWPPX Martin Ratio Rank: 86

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MEGIX vs. SWPPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Growth Portfolio (MEGIX) and Schwab S&P 500 Index Fund (SWPPX). 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.

	MEGIX	SWPPX	Difference
Sharpe ratio: Return per unit of total volatility	0.19	2.25	-2.06
Sortino ratio: Return per unit of downside risk	0.47	3.03	-2.56
Omega ratio: Gain probability vs. loss probability	1.06	1.41	-0.35
Calmar ratio: Return relative to maximum drawdown	0.20	3.15	-2.95
Martin ratio: Return relative to average drawdown	0.42	14.28	-13.87

MEGIX vs. SWPPX - Sharpe Ratio Comparison

The current MEGIX Sharpe Ratio is 0.19, which is lower than the SWPPX Sharpe Ratio of 2.25. The chart below compares the historical Sharpe Ratios of MEGIX and SWPPX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MEGIX vs. SWPPX - Drawdown Comparison

The maximum MEGIX drawdown since its inception was -69.99%, which is greater than SWPPX's maximum drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for MEGIX and SWPPX.

Drawdown Indicators

	MEGIX	SWPPX	Difference
Max Drawdown Largest peak-to-trough decline	-69.99%	-55.06%	-14.93%
Max Drawdown (1Y) Largest decline over 1 year	-28.03%	-8.89%	-19.14%
Max Drawdown (3Y) Largest decline over 3 years	-32.12%	-18.74%	-13.38%
Max Drawdown (5Y) Largest decline over 5 years	-69.99%	-24.51%	-45.48%
Max Drawdown (10Y) Largest decline over 10 years	—	-33.80%	—
Current Drawdown Current decline from peak	-14.92%	-0.66%	-14.26%
Average Drawdown Average peak-to-trough decline	-23.02%	-9.94%	-13.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.41%	1.96%	+11.45%

Volatility

MEGIX vs. SWPPX - Volatility Comparison

Morgan Stanley Growth Portfolio (MEGIX) has a higher volatility of 10.84% compared to Schwab S&P 500 Index Fund (SWPPX) at 4.72%. This indicates that MEGIX's price experiences larger fluctuations and is considered to be riskier than SWPPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MEGIX	SWPPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.84%	4.72%	+6.12%
Volatility (6M) Calculated over the trailing 6-month period	23.12%	9.85%	+13.27%
Volatility (1Y) Calculated over the trailing 1-year period	29.43%	12.46%	+16.97%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.95%	17.02%	+22.93%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.75%	18.27%	+16.48%

MEGIX vs. SWPPX - Expense Ratio Comparison

MEGIX has a 0.57% expense ratio, which is higher than SWPPX's 0.02% expense ratio.

Dividends

MEGIX vs. SWPPX - Dividend Comparison

MEGIX has not paid dividends to shareholders, while SWPPX's dividend yield for the trailing twelve months is around 1.00%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MEGIX Morgan Stanley Growth Portfolio	0.00%	0.00%	0.00%	0.00%	163.32%	34.82%	7.97%	5.35%	24.32%	0.00%	0.00%	0.00%
SWPPX Schwab S&P 500 Index Fund	1.00%	1.11%	1.23%	1.43%	1.67%	1.27%	1.81%	1.95%	2.67%	1.79%	2.55%	3.17%

Frequently Asked Questions

Can I hold both MEGIX and SWPPX in my portfolio?

MEGIX and SWPPX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MEGIX or SWPPX?

MEGIX has higher volatility (10.84%) compared to SWPPX (4.72%). In terms of maximum drawdown, MEGIX dropped -69.99% vs SWPPX's -55.06%.

Which has better risk-adjusted returns?

SWPPX currently has the higher Sharpe Ratio (2.25 vs 0.19), 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.