MGEMX vs. TRRJX
MGEMX (Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio) and TRRJX (T. Rowe Price Retirement 2035 Fund) are both mutual funds - MGEMX is a Emerging Markets Equities fund managed by T. Rowe Price, while TRRJX is a Target Retirement Date fund actively managed by T. Rowe Price. Over the past 10 years, MGEMX returned 2.50%/yr vs 9.52%/yr for TRRJX. Their 0.77 correlation means they have sometimes moved together and sometimes differently. MGEMX charges 1.05%/yr vs 0.58%/yr for TRRJX.
Performance
MGEMX vs. TRRJX - 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 TRRJX's 8.73% return. Over the past 10 years, MGEMX has underperformed TRRJX with an annualized return of 2.50%, while TRRJX has yielded a comparatively higher 9.52% 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%
TRRJX
- 1D
- 0.24%
- 1M
- 0.00%
- 6M
- 5.35%
- YTD
- 8.73%
- 1Y
- 12.73%
- 3Y*
- 12.01%
- 5Y*
- 6.17%
- 10Y*
- 9.52%
- ALL TIME*
- 7.98%
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. TRRJX - 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% |
TRRJX T. Rowe Price Retirement 2035 Fund | 8.73% | 10.96% | 11.99% | 18.14% | -17.96% | 15.21% | 17.04% | 23.72% | -6.95% | 20.89% |
Correlation
The correlation between MGEMX and TRRJX is 0.76, 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. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.72 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.76 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.75 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2004 | 0.77 |
The correlation between MGEMX and TRRJX has been stable across timeframes, ranging from 0.72 to 0.77 - a consistent structural relationship.
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Return for Risk
MGEMX vs. TRRJX — Risk / Return Rank
MGEMX
TRRJX
MGEMX vs. TRRJX - 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 T. Rowe Price Retirement 2035 Fund (TRRJX). 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 | TRRJX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.60 | ||
| Sortino ratioReturn per unit of downside risk | -1.72 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.21 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | -0.56 | 1.51 | -2.06 |
| Martin ratioReturn relative to average drawdown | -0.88 | 5.69 | -6.56 |
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Drawdowns
MGEMX vs. TRRJX - Drawdown Comparison
The maximum MGEMX drawdown since its inception was -64.93%, which is greater than TRRJX's maximum drawdown of -53.57%. Use the drawdown chart below to compare losses from any high point for MGEMX and TRRJX.
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Drawdown Indicators
| MGEMX | TRRJX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -64.93% | -53.57% | -11.36% |
Max Drawdown (1Y)Largest decline over 1 year | -52.50% | -8.06% | -44.44% |
Max Drawdown (3Y)Largest decline over 3 years | -52.50% | -12.52% | -39.98% |
Max Drawdown (5Y)Largest decline over 5 years | -52.50% | -25.85% | -26.65% |
Max Drawdown (10Y)Largest decline over 10 years | -52.50% | -30.14% | -22.36% |
Current DrawdownCurrent decline from peak | -38.67% | -0.74% | -37.93% |
Average DrawdownAverage peak-to-trough decline | -19.90% | -6.61% | -13.29% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 33.27% | 2.11% | +31.16% |
Volatility
MGEMX vs. TRRJX - Volatility Comparison
Morgan Stanley Institutional Fund, Inc. Emerging Markets Portfolio (MGEMX) has a higher volatility of 11.16% compared to T. Rowe Price Retirement 2035 Fund (TRRJX) at 2.75%. This indicates that MGEMX's price experiences larger fluctuations and is considered to be riskier than TRRJX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGEMX | TRRJX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.16% | 2.75% | +8.41% |
Volatility (6M)Calculated over the trailing 6-month period | 23.85% | 8.82% | +15.03% |
Volatility (1Y)Calculated over the trailing 1-year period | 57.30% | 11.21% | +46.09% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 29.83% | 12.92% | +16.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.17% | 13.47% | +11.70% |
MGEMX vs. TRRJX - Expense Ratio Comparison
MGEMX has a 1.05% expense ratio, which is higher than TRRJX's 0.58% expense ratio.
Dividends
MGEMX vs. TRRJX - Dividend Comparison
Neither MGEMX nor TRRJX has paid dividends to shareholders.
| 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% |
TRRJX T. Rowe Price Retirement 2035 Fund | 0.00% | 0.00% | 2.36% | 4.68% | 9.67% | 6.89% | 4.80% | 5.68% | 8.55% | 3.80% | 2.89% | 4.05% |
Frequently Asked Questions
MGEMX and TRRJX have a correlation of 0.76, 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 TRRJX (2.75%). In terms of maximum drawdown, MGEMX dropped -64.93% vs TRRJX's -53.57%.
TRRJX currently has the higher Sharpe Ratio (1.08 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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