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 12.95%/yr vs 13.31%/yr for ^GSPC. A 0.80 correlation means they provide meaningful diversification when combined.
Performance
MGGPX vs. ^GSPC - Performance Comparison
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Returns By Period
In the year-to-date period, MGGPX achieves a 3.21% return, which is significantly lower than ^GSPC's 10.20% return. Both investments have delivered pretty close results over the past 10 years, with MGGPX having a 12.95% annualized return and ^GSPC not far ahead at 13.31%.
MGGPX
- 1D
- -1.91%
- 1M
- 1.87%
- 6M
- 2.61%
- YTD
- 3.21%
- 1Y
- -9.91%
- 3Y*
- 12.43%
- 5Y*
- 1.43%
- 10Y*
- 12.95%
^GSPC
- 1D
- 0.38%
- 1M
- 1.51%
- 6M
- 8.33%
- YTD
- 10.20%
- 1Y
- 20.34%
- 3Y*
- 18.74%
- 5Y*
- 11.59%
- 10Y*
- 13.31%
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 | 3.21% | 0.77% | 27.16% | 49.29% | -41.77% | -0.05% | 55.05% | 35.03% | -5.96% | 49.03% |
^GSPC S&P 500 Index | 10.20% | 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, 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 | 0.81 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.81 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 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 | -2.03 | ||
| Sortino ratioReturn per unit of downside risk | -2.62 | ||
| Omega ratioGain probability vs. loss probability | 0.95 | 1.30 | -0.35 |
| Calmar ratioReturn relative to maximum drawdown | -0.34 | 2.25 | -2.58 |
| Martin ratioReturn relative to average drawdown | -0.71 | 9.74 | -10.45 |
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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 | -12.86% | -0.87% | -11.99% |
Average DrawdownAverage peak-to-trough decline | -9.47% | -10.71% | +1.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.50% | 2.09% | +11.41% |
Volatility
MGGPX vs. ^GSPC - Volatility Comparison
Morgan Stanley Global Opportunity Portfolio Class A (MGGPX) has a higher volatility of 9.00% compared to S&P 500 Index (^GSPC) at 3.61%. 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 | 9.00% | 3.61% | +5.39% |
Volatility (6M)Calculated over the trailing 6-month period | 18.41% | 9.98% | +8.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.08% | 12.55% | +11.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.48% | 17.01% | +9.47% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.24% | 18.05% | +5.19% |
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 (9.00%) compared to ^GSPC (3.61%). In terms of maximum drawdown, MGGPX dropped -51.83% vs ^GSPC's -56.78%.
^GSPC currently has the higher Sharpe Ratio (1.63 vs -0.40), 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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