MGGPX vs. AGLOX

Last updated Jun 25, 2026

MGGPX (Morgan Stanley Global Opportunity Portfolio Class A) and AGLOX (Ariel Global Fund) are both Global Equities funds. Over the past 10 years, MGGPX returned 13.32%/yr vs 10.88%/yr for AGLOX. A 0.71 correlation means they provide meaningful diversification when combined. MGGPX charges 1.25%/yr vs 1.13%/yr for AGLOX.

Performance

MGGPX vs. AGLOX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Global Opportunity Portfolio Class A (MGGPX) and Ariel Global Fund (AGLOX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MGGPX achieves a 1.92% return, which is significantly lower than AGLOX's 24.60% return. Over the past 10 years, MGGPX has outperformed AGLOX with an annualized return of 13.32%, while AGLOX has yielded a comparatively lower 10.88% annualized return.

MGGPX

• 1D: -3.72%
• 1M: 2.24%
• YTD: 1.92%
• 6M: 1.46%
• 1Y: -10.48%
• 3Y*: 13.96%
• 5Y*: 1.19%
• 10Y*: 13.32%

AGLOX

• 1D: -1.67%
• 1M: 2.70%
• YTD: 24.60%
• 6M: 24.33%
• 1Y: 36.71%
• 3Y*: 19.76%
• 5Y*: 12.09%
• 10Y*: 10.88%

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

MGGPX vs. AGLOX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGGPX Morgan Stanley Global Opportunity Portfolio Class A	1.92%	0.77%	27.16%	49.29%	-41.77%	-0.05%	55.05%	35.03%	-5.96%	49.03%
AGLOX Ariel Global Fund	24.60%	23.22%	6.55%	12.40%	-5.47%	11.53%	7.70%	15.98%	-6.03%	15.63%

Correlation

The correlation between MGGPX and AGLOX is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.62
Correlation (5Y) Calculated over the trailing 5-year period	0.68
Correlation (10Y) Calculated over the trailing 10-year period	0.69
Correlation (All Time) Calculated using the full available price history since Jan 3, 2012	0.71

The correlation between MGGPX and AGLOX has been stable across timeframes, ranging from 0.62 to 0.71 - a consistent structural relationship.

Return for Risk

MGGPX vs. AGLOX — Risk / Return Rank

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

MGGPX

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

AGLOX

AGLOX Risk / Return Rank: 87
AGLOX Sharpe Ratio Rank: 93
AGLOX Sortino Ratio Rank: 88
AGLOX Omega Ratio Rank: 87
AGLOX Calmar Ratio Rank: 85
AGLOX Martin Ratio Rank: 82

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.

MGGPX vs. AGLOX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Global Opportunity Portfolio Class A (MGGPX) and Ariel Global Fund (AGLOX). 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	AGLOX	Difference
Sharpe ratio: Return per unit of total volatility	-0.35	2.80	-3.16
Sortino ratio: Return per unit of downside risk	-0.32	3.81	-4.12
Omega ratio: Gain probability vs. loss probability	0.95	1.54	-0.59
Calmar ratio: Return relative to maximum drawdown	-0.30	3.71	-4.01
Martin ratio: Return relative to average drawdown	-0.64	13.83	-14.47

MGGPX vs. AGLOX - Sharpe Ratio Comparison

The current MGGPX Sharpe Ratio is -0.35, which is lower than the AGLOX Sharpe Ratio of 2.80. The chart below compares the historical Sharpe Ratios of MGGPX and AGLOX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MGGPX vs. AGLOX - Drawdown Comparison

The maximum MGGPX drawdown since its inception was -51.83%, which is greater than AGLOX's maximum drawdown of -24.72%. Use the drawdown chart below to compare losses from any high point for MGGPX and AGLOX.

Drawdown Indicators

	MGGPX	AGLOX	Difference
Max Drawdown Largest peak-to-trough decline	-51.83%	-24.72%	-27.11%
Max Drawdown (1Y) Largest decline over 1 year	-28.32%	-10.66%	-17.66%
Max Drawdown (3Y) Largest decline over 3 years	-28.32%	-12.94%	-15.38%
Max Drawdown (5Y) Largest decline over 5 years	-51.14%	-16.77%	-34.37%
Max Drawdown (10Y) Largest decline over 10 years	-51.83%	-24.72%	-27.11%
Current Drawdown Current decline from peak	-13.94%	-1.67%	-12.27%
Average Drawdown Average peak-to-trough decline	-9.46%	-3.37%	-6.09%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.25%	2.85%	+10.40%

Volatility

MGGPX vs. AGLOX - Volatility Comparison

Morgan Stanley Global Opportunity Portfolio Class A (MGGPX) has a higher volatility of 10.66% compared to Ariel Global Fund (AGLOX) at 6.34%. This indicates that MGGPX's price experiences larger fluctuations and is considered to be riskier than AGLOX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGGPX	AGLOX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.66%	6.34%	+4.32%
Volatility (6M) Calculated over the trailing 6-month period	18.07%	12.02%	+6.05%
Volatility (1Y) Calculated over the trailing 1-year period	23.95%	14.11%	+9.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.44%	12.91%	+13.53%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.23%	13.19%	+10.04%

MGGPX vs. AGLOX - Expense Ratio Comparison

MGGPX has a 1.25% expense ratio, which is higher than AGLOX's 1.13% expense ratio.

Dividends

MGGPX vs. AGLOX - Dividend Comparison

MGGPX has not paid dividends to shareholders, while AGLOX's dividend yield for the trailing twelve months is around 13.14%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AGLOX Ariel Global Fund	13.14%	16.38%	27.80%	18.51%	4.82%	2.00%	0.85%	4.39%	3.42%	4.48%	2.65%	0.81%
MGGPX Morgan Stanley Global Opportunity Portfolio Class A	0.00%	0.00%	9.95%	2.27%	24.31%	5.14%	1.20%	0.00%	0.82%	0.40%	7.23%	1.29%

Frequently Asked Questions

Can I hold both MGGPX and AGLOX in my portfolio?

MGGPX and AGLOX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGGPX or AGLOX?

MGGPX has higher volatility (10.66%) compared to AGLOX (6.34%). In terms of maximum drawdown, MGGPX dropped -51.83% vs AGLOX's -24.72%.

Which has better risk-adjusted returns?

AGLOX currently has the higher Sharpe Ratio (2.80 vs -0.35), 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.