MGGPX vs. ^GSPC
MGGPX (Morgan Stanley Global Opportunity Portfolio Class A) is Global Equities fund tracking the MSCI All Country World Index, while ^GSPC (S&P 500 Index) is an index. Over the past 10 years, MGGPX returned 12.37%/yr vs 13.49%/yr for ^GSPC. Their 0.80 correlation means they have sometimes moved together and sometimes differently.
Performance
MGGPX vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, MGGPX achieves a 1.62% return, which is significantly lower than ^GSPC's 13.02% return. Over the past 10 years, MGGPX has underperformed ^GSPC with an annualized return of 12.37%, while ^GSPC has yielded a comparatively higher 13.49% annualized return.
MGGPX
- 1D
- 0.79%
- 1M
- -2.29%
- 6M
- 4.19%
- YTD
- 1.62%
- 1Y
- -9.41%
- 3Y*
- 12.80%
- 5Y*
- 1.78%
- 10Y*
- 12.37%
- ALL TIME*
- 14.03%
^GSPC
- 1D
- 1.79%
- 1M
- 3.38%
- 6M
- 11.83%
- YTD
- 13.02%
- 1Y
- 22.22%
- 3Y*
- 19.99%
- 5Y*
- 11.80%
- 10Y*
- 13.49%
- ALL TIME*
- 8.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
^GSPC S&P 500 Index | $38.53T | $37.79T | $41.47T |
| $0.00 | $0.00 | $0.00 |
MGGPX vs. ^GSPC - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MGGPX Morgan Stanley Global Opportunity Portfolio Class A | 1.62% | 0.77% | 27.16% | 49.29% | -41.77% | -0.05% | 55.05% | 35.03% | -5.96% | 49.03% |
^GSPC S&P 500 Index | 13.02% | 16.39% | 23.31% | 24.23% | -19.44% | 26.89% | 16.26% | 28.88% | -6.24% | 19.42% |
Correlation
The correlation between MGGPX and ^GSPC is 0.81, 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. | 0.81 |
Correlation (3Y) Balances recent behavior with more history. | 0.81 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.83 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.80 |
Correlation (All Time) Calculated using the full available price history since May 24, 2010 | 0.80 |
The correlation between MGGPX and ^GSPC has been stable across timeframes, ranging from 0.80 to 0.83 - a consistent structural relationship.
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Return for Risk
MGGPX vs. ^GSPC — Risk / Return Rank
MGGPX
^GSPC
MGGPX vs. ^GSPC - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Global Opportunity Portfolio Class A (MGGPX) and S&P 500 Index (^GSPC). 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.
| MGGPX | ^GSPC | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.06 | ||
| Sortino ratioReturn per unit of downside risk | -2.67 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 1.31 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | 2.45 | -2.73 |
| Martin ratioReturn relative to average drawdown | -0.57 | 10.40 | -10.97 |
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Drawdowns
MGGPX vs. ^GSPC - Drawdown Comparison
The maximum MGGPX drawdown since its inception was -51.83%, smaller than the maximum ^GSPC drawdown of -56.78%. Use the drawdown chart below to compare losses from any high point for MGGPX and ^GSPC.
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Drawdown Indicators
| MGGPX | ^GSPC | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.83% | -56.78% | +4.95% |
Max Drawdown (1Y)Largest decline over 1 year | -28.32% | -9.10% | -19.22% |
Max Drawdown (3Y)Largest decline over 3 years | -28.32% | -18.90% | -9.42% |
Max Drawdown (5Y)Largest decline over 5 years | -51.14% | -25.43% | -25.71% |
Max Drawdown (10Y)Largest decline over 10 years | -51.83% | -33.92% | -17.91% |
Current DrawdownCurrent decline from peak | -14.20% | 0.00% | -14.20% |
Average DrawdownAverage peak-to-trough decline | -9.49% | -10.70% | +1.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.94% | 2.14% | +11.80% |
Volatility
MGGPX vs. ^GSPC - Volatility Comparison
Morgan Stanley Global Opportunity Portfolio Class A (MGGPX) has a higher volatility of 6.84% compared to S&P 500 Index (^GSPC) at 4.12%. This indicates that MGGPX's price experiences larger fluctuations and is considered to be riskier than ^GSPC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGGPX | ^GSPC | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.84% | 4.12% | +2.72% |
Volatility (6M)Calculated over the trailing 6-month period | 18.89% | 10.33% | +8.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.60% | 12.95% | +11.65% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.56% | 17.04% | +9.52% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.30% | 18.09% | +5.21% |
Frequently Asked Questions
MGGPX and ^GSPC have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MGGPX has higher volatility (6.84%) compared to ^GSPC (4.12%). In terms of maximum drawdown, MGGPX dropped -51.83% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (1.73 vs -0.32), 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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