MGGIX vs. SPGM
MGGIX (Morgan Stanley Institutional Fund, Inc. Global Opportunity Portfolio) and SPGM (SPDR Portfolio MSCI Global Stock Market ETF) are both Global Equities funds. Over the past 10 years, MGGIX returned 12.60%/yr vs 12.68%/yr for SPGM. Their 0.70 correlation means they have sometimes moved together and sometimes differently. MGGIX charges 0.95%/yr vs 0.09%/yr for SPGM.
Performance
MGGIX vs. SPGM - Performance Comparison
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Returns By Period
In the year-to-date period, MGGIX achieves a -0.11% return, which is significantly lower than SPGM's 11.77% return. Both investments have delivered pretty close results over the past 10 years, with MGGIX having a 12.60% annualized return and SPGM not far ahead at 12.68%.
MGGIX
- 1D
- 2.63%
- 1M
- -4.10%
- 6M
- 0.91%
- YTD
- -0.11%
- 1Y
- -8.62%
- 3Y*
- 11.17%
- 5Y*
- 1.88%
- 10Y*
- 12.60%
- ALL TIME*
- 11.72%
SPGM
- 1D
- 0.22%
- 1M
- -0.02%
- 6M
- 8.38%
- YTD
- 11.77%
- 1Y
- 25.45%
- 3Y*
- 18.71%
- 5Y*
- 11.13%
- 10Y*
- 12.68%
- ALL TIME*
- 11.23%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $10.27M | $14.25M | $20.66M |
MGGIX vs. SPGM - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MGGIX Morgan Stanley Institutional Fund, Inc. Global Opportunity Portfolio | -0.11% | 1.86% | 27.50% | 49.70% | -41.57% | 0.22% | 55.49% | 35.44% | -5.65% | 49.45% |
SPGM SPDR Portfolio MSCI Global Stock Market ETF | 11.77% | 23.62% | 16.75% | 21.34% | -17.53% | 21.13% | 15.28% | 26.58% | -10.12% | 23.26% |
Correlation
The correlation between MGGIX and SPGM is 0.82, 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. | 0.82 |
Correlation (3Y) Balances recent behavior with more history. | 0.83 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.84 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.78 |
Correlation (All Time) Calculated using the full available price history since Mar 5, 2012 | 0.70 |
The correlation between MGGIX and SPGM shifts across timeframes, from 0.70 (all time) to 0.84 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MGGIX vs. SPGM — Risk / Return Rank
MGGIX
SPGM
MGGIX vs. SPGM - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Fund, Inc. Global Opportunity Portfolio (MGGIX) and SPDR Portfolio MSCI Global Stock Market ETF (SPGM). 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.
| MGGIX | SPGM | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.16 | ||
| Sortino ratioReturn per unit of downside risk | -2.83 | ||
| Omega ratioGain probability vs. loss probability | 0.94 | 1.31 | -0.37 |
| Calmar ratioReturn relative to maximum drawdown | -0.39 | 2.54 | -2.93 |
| Martin ratioReturn relative to average drawdown | -0.81 | 10.70 | -11.50 |
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Drawdowns
MGGIX vs. SPGM - Drawdown Comparison
The maximum MGGIX drawdown since its inception was -59.08%, which is greater than SPGM's maximum drawdown of -33.97%. Use the drawdown chart below to compare losses from any high point for MGGIX and SPGM.
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Drawdown Indicators
| MGGIX | SPGM | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -59.08% | -33.97% | -25.11% |
Max Drawdown (1Y)Largest decline over 1 year | -27.65% | -9.50% | -18.15% |
Max Drawdown (3Y)Largest decline over 3 years | -27.65% | -16.90% | -10.75% |
Max Drawdown (5Y)Largest decline over 5 years | -51.02% | -25.93% | -25.09% |
Max Drawdown (10Y)Largest decline over 10 years | -51.60% | -33.97% | -17.63% |
Current DrawdownCurrent decline from peak | -14.93% | -1.83% | -13.10% |
Average DrawdownAverage peak-to-trough decline | -11.24% | -4.77% | -6.47% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.29% | 2.25% | +11.04% |
Volatility
MGGIX vs. SPGM - Volatility Comparison
Morgan Stanley Institutional Fund, Inc. Global Opportunity Portfolio (MGGIX) has a higher volatility of 6.76% compared to SPDR Portfolio MSCI Global Stock Market ETF (SPGM) at 3.94%. This indicates that MGGIX's price experiences larger fluctuations and is considered to be riskier than SPGM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGGIX | SPGM | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.76% | 3.94% | +2.82% |
Volatility (6M)Calculated over the trailing 6-month period | 18.92% | 11.76% | +7.16% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.22% | 14.05% | +10.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.48% | 16.18% | +10.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.24% | 17.35% | +5.89% |
MGGIX vs. SPGM - Expense Ratio Comparison
MGGIX has a 0.95% expense ratio, which is higher than SPGM's 0.09% expense ratio.
Dividends
MGGIX vs. SPGM - Dividend Comparison
MGGIX has not paid dividends to shareholders, while SPGM's dividend yield for the trailing twelve months is around 1.81%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MGGIX Morgan Stanley Institutional Fund, Inc. Global Opportunity Portfolio | 0.00% | 0.00% | 9.27% | 2.13% | 22.94% | 4.92% | 1.16% | 0.00% | 0.79% | 0.39% | 7.04% | 1.26% |
SPGM SPDR Portfolio MSCI Global Stock Market ETF | 1.81% | 1.89% | 1.98% | 2.09% | 2.37% | 1.94% | 1.45% | 2.46% | 1.89% | 2.29% | 1.87% | 3.70% |
Frequently Asked Questions
MGGIX and SPGM have a correlation of 0.82, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MGGIX has higher volatility (6.76%) compared to SPGM (3.94%). In terms of maximum drawdown, MGGIX dropped -59.08% vs SPGM's -33.97%.
SPGM currently has the higher Sharpe Ratio (1.72 vs -0.44), 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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