MGGIX vs. VOO

Last updated Jun 3, 2026

MGGIX (Morgan Stanley Institutional Fund, Inc. Global Opportunity Portfolio) and VOO (Vanguard S&P 500 ETF) are both funds - MGGIX is a Global Equities fund managed by T. Rowe Price, while VOO is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, MGGIX returned 13.61%/yr vs 15.56%/yr for VOO. A 0.80 correlation means they provide meaningful diversification when combined. MGGIX charges 0.95%/yr vs 0.03%/yr for VOO.

Performance

MGGIX vs. VOO - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Institutional Fund, Inc. Global Opportunity Portfolio (MGGIX) and Vanguard S&P 500 ETF (VOO). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MGGIX achieves a 5.60% return, which is significantly lower than VOO's 10.91% return. Over the past 10 years, MGGIX has underperformed VOO with an annualized return of 13.61%, while VOO has yielded a comparatively higher 15.56% annualized return.

MGGIX

• 1D: 1.84%
• 1M: 9.16%
• YTD: 5.60%
• 6M: -3.45%
• 1Y: -4.14%
• 3Y*: 16.69%
• 5Y*: 3.07%
• 10Y*: 13.61%

VOO

• 1D: -0.70%
• 1M: 5.04%
• YTD: 10.91%
• 6M: 10.93%
• 1Y: 28.04%
• 3Y*: 22.44%
• 5Y*: 13.90%
• 10Y*: 15.56%

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

MGGIX vs. VOO - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGGIX Morgan Stanley Institutional Fund, Inc. Global Opportunity Portfolio	5.60%	1.86%	27.50%	49.70%	-41.57%	0.22%	55.49%	35.44%	-5.65%	49.45%
VOO Vanguard S&P 500 ETF	10.91%	17.82%	24.98%	26.32%	-18.17%	28.79%	18.32%	31.37%	-4.50%	21.77%

Correlation

The correlation between MGGIX and VOO is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.80
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (10Y) Calculated over the trailing 10-year period	0.80
Correlation (All Time) Calculated using the full available price history since Sep 10, 2010	0.80

The correlation between MGGIX and VOO has been stable across timeframes, ranging from 0.80 to 0.82 - a consistent structural relationship.

Return for Risk

MGGIX vs. VOO — Risk / Return Rank

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

MGGIX

MGGIX Risk / Return Rank: 2
MGGIX Sharpe Ratio Rank: 2
MGGIX Sortino Ratio Rank: 2
MGGIX Omega Ratio Rank: 2
MGGIX Calmar Ratio Rank: 2
MGGIX Martin Ratio Rank: 2

VOO

VOO Risk / Return Rank: 70
VOO Sharpe Ratio Rank: 71
VOO Sortino Ratio Rank: 70
VOO Omega Ratio Rank: 70
VOO Calmar Ratio Rank: 62
VOO Martin Ratio Rank: 75

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.

MGGIX vs. VOO - 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 Vanguard S&P 500 ETF (VOO). 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.

	MGGIX	VOO	Difference
Sharpe ratio Return per unit of total volatility	-0.16	2.39	-2.55
Sortino ratio Return per unit of downside risk	-0.07	3.25	-3.32
Omega ratio Gain probability vs. loss probability	0.99	1.43	-0.44
Calmar ratio Return relative to maximum drawdown	-0.13	3.16	-3.29
Martin ratio Return relative to average drawdown	-0.28	14.73	-15.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MGGIX vs. VOO - Sharpe Ratio Comparison

The current MGGIX Sharpe Ratio is -0.16, which is lower than the VOO Sharpe Ratio of 2.39. The chart below compares the historical Sharpe Ratios of MGGIX and VOO, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MGGIX	VOO	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.16	2.39	-2.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	0.83	-0.71
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.87	-0.27
Sharpe Ratio (All Time) Calculated using the full available price history	0.53	0.89	-0.36

Drawdowns

MGGIX vs. VOO - Drawdown Comparison

The maximum MGGIX drawdown since its inception was -59.08%, which is greater than VOO's maximum drawdown of -33.99%. Use the drawdown chart below to compare losses from any high point for MGGIX and VOO.

Drawdown Indicators

	MGGIX	VOO	Difference
Max Drawdown Largest peak-to-trough decline	-59.08%	-33.99%	-25.09%
Max Drawdown (1Y) Largest decline over 1 year	-27.65%	-8.90%	-18.75%
Max Drawdown (3Y) Largest decline over 3 years	-27.65%	-18.69%	-8.96%
Max Drawdown (5Y) Largest decline over 5 years	-51.02%	-24.52%	-26.50%
Max Drawdown (10Y) Largest decline over 10 years	-51.60%	-33.99%	-17.61%
Current Drawdown Current decline from peak	-10.06%	-0.70%	-9.36%
Average Drawdown Average peak-to-trough decline	-11.23%	-3.69%	-7.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.35%	1.91%	+10.44%

Volatility

MGGIX vs. VOO - Volatility Comparison

Morgan Stanley Institutional Fund, Inc. Global Opportunity Portfolio (MGGIX) has a higher volatility of 5.89% compared to Vanguard S&P 500 ETF (VOO) at 2.84%. This indicates that MGGIX's price experiences larger fluctuations and is considered to be riskier than VOO based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGGIX	VOO	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.89%	2.84%	+3.05%
Volatility (6M) Calculated over the trailing 6-month period	19.04%	8.90%	+10.14%
Volatility (1Y) Calculated over the trailing 1-year period	21.58%	11.80%	+9.78%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.00%	16.81%	+9.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.05%	18.01%	+5.04%

MGGIX vs. VOO - Expense Ratio Comparison

MGGIX has a 0.95% expense ratio, which is higher than VOO's 0.03% expense ratio.

Dividends

MGGIX vs. VOO - Dividend Comparison

MGGIX has not paid dividends to shareholders, while VOO's dividend yield for the trailing twelve months is around 1.03%.

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%
VOO Vanguard S&P 500 ETF	1.03%	1.13%	1.24%	1.46%	1.69%	1.25%	1.54%	1.88%	2.06%	1.78%	2.02%	2.10%

Frequently Asked Questions

Can I hold both MGGIX and VOO in my portfolio?

MGGIX and VOO have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGGIX or VOO?

MGGIX has higher volatility (5.89%) compared to VOO (2.84%). In terms of maximum drawdown, MGGIX dropped -59.08% vs VOO's -33.99%.

Which has better risk-adjusted returns?

VOO currently has the higher Sharpe Ratio (2.39 vs -0.16), 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.