MGEMX vs. TEQLX
MGEMX (Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio) and TEQLX (TIAA-CREF Emerging Markets Equity Index Fund) are both Emerging Markets Equities funds. Over the past 10 years, MGEMX returned 2.50%/yr vs 8.80%/yr for TEQLX. Their 0.95 correlation means they have historically moved very closely together. MGEMX charges 1.05%/yr vs 0.19%/yr for TEQLX.
Performance
MGEMX vs. TEQLX - 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 TEQLX's 18.66% return. Over the past 10 years, MGEMX has underperformed TEQLX with an annualized return of 2.50%, while TEQLX has yielded a comparatively higher 8.80% 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%
TEQLX
- 1D
- 2.08%
- 1M
- -1.42%
- 6M
- 9.89%
- YTD
- 18.66%
- 1Y
- 37.21%
- 3Y*
- 18.77%
- 5Y*
- 7.42%
- 10Y*
- 8.80%
- ALL TIME*
- 5.53%
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. TEQLX - 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% |
TEQLX TIAA-CREF Emerging Markets Equity Index Fund | 18.66% | 34.10% | 6.71% | 9.23% | -20.22% | -3.07% | 17.67% | 18.59% | -14.60% | 37.47% |
Correlation
The correlation between MGEMX and TEQLX is 0.98 - they have historically moved very closely together. At this level, their price movements offset little of one another.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.98 |
Correlation (3Y) Balances recent behavior with more history. | 0.97 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.95 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.95 |
Correlation (All Time) Calculated using the full available price history since Aug 31, 2010 | 0.95 |
The correlation between MGEMX and TEQLX has been stable across timeframes, ranging from 0.95 to 0.98 - a consistent structural relationship.
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Return for Risk
MGEMX vs. TEQLX — Risk / Return Rank
MGEMX
TEQLX
MGEMX vs. TEQLX - 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 TIAA-CREF Emerging Markets Equity Index Fund (TEQLX). 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 | TEQLX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.05 | ||
| Sortino ratioReturn per unit of downside risk | -2.23 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.29 | -0.36 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 2.49 | -3.05 |
| Martin ratioReturn relative to average drawdown | -0.88 | 7.94 | -8.82 |
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Drawdowns
MGEMX vs. TEQLX - Drawdown Comparison
The maximum MGEMX drawdown since its inception was -64.93%, which is greater than TEQLX's maximum drawdown of -39.33%. Use the drawdown chart below to compare losses from any high point for MGEMX and TEQLX.
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Drawdown Indicators
| MGEMX | TEQLX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.93% | -39.33% | -25.60% |
Max Drawdown (1Y)Largest decline over 1 year | -52.50% | -14.29% | -38.21% |
Max Drawdown (3Y)Largest decline over 3 years | -52.50% | -15.97% | -36.53% |
Max Drawdown (5Y)Largest decline over 5 years | -52.50% | -34.45% | -18.05% |
Max Drawdown (10Y)Largest decline over 10 years | -52.50% | -39.33% | -13.17% |
Current DrawdownCurrent decline from peak | -38.67% | -9.11% | -29.56% |
Average DrawdownAverage peak-to-trough decline | -19.90% | -14.52% | -5.38% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.27% | 4.47% | +28.80% |
Volatility
MGEMX vs. TEQLX - Volatility Comparison
Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio (MGEMX) has a higher volatility of 11.16% compared to TIAA-CREF Emerging Markets Equity Index Fund (TEQLX) at 9.80%. This indicates that MGEMX's price experiences larger fluctuations and is considered to be riskier than TEQLX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGEMX | TEQLX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.16% | 9.80% | +1.36% |
Volatility (6M)Calculated over the trailing 6-month period | 23.85% | 21.21% | +2.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.30% | 23.10% | +34.20% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.83% | 18.06% | +11.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.17% | 18.15% | +7.02% |
MGEMX vs. TEQLX - Expense Ratio Comparison
MGEMX has a 1.05% expense ratio, which is higher than TEQLX's 0.19% expense ratio.
Dividends
MGEMX vs. TEQLX - Dividend Comparison
MGEMX has not paid dividends to shareholders, while TEQLX's dividend yield for the trailing twelve months is around 2.38%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
TEQLX TIAA-CREF Emerging Markets Equity Index Fund | 2.38% | 2.83% | 2.93% | 3.08% | 2.51% | 2.27% | 2.04% | 2.77% | 2.43% | 1.98% | 1.88% | 2.40% |
Frequently Asked Questions
With a correlation of 0.98, MGEMX and TEQLX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
MGEMX has higher volatility (11.16%) compared to TEQLX (9.80%). In terms of maximum drawdown, MGEMX dropped -64.93% vs TEQLX's -39.33%.
TEQLX currently has the higher Sharpe Ratio (1.54 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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