MGEMX vs. EITEX
MGEMX (Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio) and EITEX (Parametric Tax-Managed Emerging Markets Fund) are both Emerging Markets Equities funds. Over the past 10 years, MGEMX returned 2.50%/yr vs 6.76%/yr for EITEX. Their correlation of 0.91 means they have usually moved in the same direction. MGEMX charges 1.05%/yr vs 0.96%/yr for EITEX.
Performance
MGEMX vs. EITEX - Performance Comparison
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Returns By Period
In the year-to-date period, MGEMX achieves a 23.22% return, which is significantly higher than EITEX's 9.39% return. Over the past 10 years, MGEMX has underperformed EITEX with an annualized return of 2.50%, while EITEX has yielded a comparatively higher 6.76% annualized return.
MGEMX
- 1D
- 2.19%
- 1M
- -2.81%
- 6M
- 13.22%
- YTD
- 23.22%
- 1Y
- -28.33%
- 3Y*
- -3.74%
- 5Y*
- -5.97%
- 10Y*
- 2.50%
- ALL TIME*
- 6.67%
EITEX
- 1D
- 0.30%
- 1M
- 0.89%
- 6M
- 2.13%
- YTD
- 9.39%
- 1Y
- 22.16%
- 3Y*
- 13.67%
- 5Y*
- 7.15%
- 10Y*
- 6.76%
- ALL TIME*
- 8.72%
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 |
MGEMX vs. EITEX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MGEMX Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio | 23.22% | -34.08% | 8.07% | 12.16% | -25.07% | 3.53% | 14.59% | 37.21% | -17.34% | 34.98% |
EITEX Parametric Tax-Managed Emerging Markets Fund | 9.39% | 28.58% | 4.67% | 10.69% | -12.11% | 4.47% | 4.51% | 12.51% | -13.20% | 27.10% |
Correlation
The correlation between MGEMX and EITEX is 0.88, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.88 |
Correlation (3Y) Balances recent behavior with more history. | 0.88 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.90 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jun 30, 1998 | 0.91 |
The correlation between MGEMX and EITEX has been stable across timeframes, ranging from 0.88 to 0.91 - a consistent structural relationship.
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Return for Risk
MGEMX vs. EITEX — Risk / Return Rank
MGEMX
EITEX
MGEMX vs. EITEX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio (MGEMX) and Parametric Tax-Managed Emerging Markets Fund (EITEX). 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.
| MGEMX | EITEX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.14 | ||
| Sortino ratioReturn per unit of downside risk | -2.43 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.31 | -0.38 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 2.18 | -2.73 |
| Martin ratioReturn relative to average drawdown | -0.88 | 7.10 | -7.98 |
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Drawdowns
MGEMX vs. EITEX - Drawdown Comparison
The maximum MGEMX drawdown since its inception was -64.93%, which is greater than EITEX's maximum drawdown of -61.70%. Use the drawdown chart below to compare losses from any high point for MGEMX and EITEX.
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Drawdown Indicators
| MGEMX | EITEX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.93% | -61.70% | -3.23% |
Max Drawdown (1Y)Largest decline over 1 year | -52.50% | -9.88% | -42.62% |
Max Drawdown (3Y)Largest decline over 3 years | -52.50% | -11.86% | -40.64% |
Max Drawdown (5Y)Largest decline over 5 years | -52.50% | -25.58% | -26.92% |
Max Drawdown (10Y)Largest decline over 10 years | -52.50% | -43.10% | -9.40% |
Current DrawdownCurrent decline from peak | -38.67% | -3.38% | -35.29% |
Average DrawdownAverage peak-to-trough decline | -19.90% | -13.87% | -6.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.27% | 3.02% | +30.25% |
Volatility
MGEMX vs. EITEX - Volatility Comparison
Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio (MGEMX) has a higher volatility of 11.16% compared to Parametric Tax-Managed Emerging Markets Fund (EITEX) at 4.09%. This indicates that MGEMX's price experiences larger fluctuations and is considered to be riskier than EITEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGEMX | EITEX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.16% | 4.09% | +7.07% |
Volatility (6M)Calculated over the trailing 6-month period | 23.85% | 11.83% | +12.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.30% | 13.23% | +44.07% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.83% | 12.53% | +17.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.17% | 13.74% | +11.43% |
MGEMX vs. EITEX - Expense Ratio Comparison
MGEMX has a 1.05% expense ratio, which is higher than EITEX's 0.96% expense ratio.
Dividends
MGEMX vs. EITEX - Dividend Comparison
MGEMX has not paid dividends to shareholders, while EITEX's dividend yield for the trailing twelve months is around 4.36%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EITEX Parametric Tax-Managed Emerging Markets Fund | 4.36% | 4.77% | 4.58% | 5.85% | 10.39% | 9.72% | 1.79% | 2.63% | 2.26% | 1.80% | 1.67% | 2.11% |
MGEMX Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio | 0.00% | 0.00% | 1.27% | 2.48% | 4.48% | 9.05% | 1.07% | 26.00% | 2.46% | 0.60% | 0.82% | 0.87% |
Frequently Asked Questions
MGEMX and EITEX have a correlation of 0.88, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MGEMX has higher volatility (11.16%) compared to EITEX (4.09%). In terms of maximum drawdown, MGEMX dropped -64.93% vs EITEX's -61.70%.
EITEX currently has the higher Sharpe Ratio (1.63 vs -0.51), 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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