MGGPX vs. FXAIX

Last updated Apr 1, 2026

Compare and contrast key facts about Morgan Stanley Global Opportunity Portfolio Class A (MGGPX) and Fidelity 500 Index Fund (FXAIX).

MGGPX is a passively managed fund by Morgan Stanley that tracks the performance of the MSCI All Country World Index. It was launched on May 24, 2010. FXAIX is a passively managed fund by Fidelity that tracks the performance of the S&P 500 Index. It was launched on Feb 17, 1988. Both MGGPX and FXAIX are passive ETFs, meaning that they are not actively managed but aim to replicate the performance of the underlying index as closely as possible.

Performance

MGGPX vs. FXAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Global Opportunity Portfolio Class A (MGGPX) and Fidelity 500 Index Fund (FXAIX). The values are adjusted to include any dividend payments, if applicable.

MGGPX vs. FXAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGGPX Morgan Stanley Global Opportunity Portfolio Class A	-14.99%	0.77%	27.16%	49.29%	-41.77%	-0.05%	55.05%	35.03%	-5.96%	49.03%
FXAIX Fidelity 500 Index Fund	-7.05%	17.84%	25.01%	26.29%	-18.14%	28.71%	18.42%	31.48%	-4.43%	21.82%

Returns By Period

In the year-to-date period, MGGPX achieves a -14.99% return, which is significantly lower than FXAIX's -7.05% return. Over the past 10 years, MGGPX has underperformed FXAIX with an annualized return of 11.19%, while FXAIX has yielded a comparatively higher 13.75% annualized return.

MGGPX

• 1D: 0.14%
• 1M: -12.56%
• YTD: -14.99%
• 6M: -26.48%
• 1Y: -13.08%
• 3Y*: 10.50%
• 5Y*: -0.84%
• 10Y*: 11.19%

FXAIX

• 1D: -0.39%
• 1M: -7.68%
• YTD: -7.05%
• 6M: -4.59%
• 1Y: 14.42%
• 3Y*: 17.17%
• 5Y*: 11.40%
• 10Y*: 13.75%

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

MGGPX vs. FXAIX - Expense Ratio Comparison

MGGPX has a 1.25% expense ratio, which is higher than FXAIX's 0.02% expense ratio.

MGGPX

Morgan Stanley Global Opportunity Portfolio Class A

FXAIX

Fidelity 500 Index Fund

Return for Risk

MGGPX vs. FXAIX — Risk / Return Rank

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

MGGPX

MGGPX Risk / Return Rank: 1
MGGPX Sharpe Ratio Rank: 1
MGGPX Sortino Ratio Rank: 1
MGGPX Omega Ratio Rank: 1
MGGPX Calmar Ratio Rank: 1
MGGPX Martin Ratio Rank: 1

FXAIX

FXAIX Risk / Return Rank: 46
FXAIX Sharpe Ratio Rank: 41
FXAIX Sortino Ratio Rank: 45
FXAIX Omega Ratio Rank: 50
FXAIX Calmar Ratio Rank: 41
FXAIX Martin Ratio Rank: 53

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. FXAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Global Opportunity Portfolio Class A (MGGPX) and Fidelity 500 Index Fund (FXAIX). 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.

	MGGPX	FXAIX	Difference
Sharpe ratio Return per unit of total volatility	-0.55	0.84	-1.39
Sortino ratio Return per unit of downside risk	-0.60	1.30	-1.90
Omega ratio Gain probability vs. loss probability	0.91	1.20	-0.29
Calmar ratio Return relative to maximum drawdown	-0.57	1.05	-1.62
Martin ratio Return relative to average drawdown	-1.53	5.13	-6.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MGGPX vs. FXAIX - Sharpe Ratio Comparison

The current MGGPX Sharpe Ratio is -0.55, which is lower than the FXAIX Sharpe Ratio of 0.84. The chart below compares the historical Sharpe Ratios of MGGPX and FXAIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MGGPX	FXAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.55	0.84	-1.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.03	0.68	-0.71
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.49	0.77	-0.28
Sharpe Ratio (All Time) Calculated using the full available price history	0.62	0.75	-0.13

Correlation

The correlation between MGGPX and FXAIX is 0.80, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.

Dividends

MGGPX vs. FXAIX - Dividend Comparison

MGGPX has not paid dividends to shareholders, while FXAIX's dividend yield for the trailing twelve months is around 1.20%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
FXAIX Fidelity 500 Index Fund	1.20%	1.11%	1.25%	1.45%	1.69%	1.22%	1.60%	2.06%	2.72%	1.97%	2.52%	2.83%

Drawdowns

MGGPX vs. FXAIX - Drawdown Comparison

The maximum MGGPX drawdown since its inception was -51.83%, which is greater than FXAIX's maximum drawdown of -33.79%. Use the drawdown chart below to compare losses from any high point for MGGPX and FXAIX.

Drawdown Indicators

	MGGPX	FXAIX	Difference
Max Drawdown Largest peak-to-trough decline	-51.83%	-33.79%	-18.04%
Max Drawdown (1Y) Largest decline over 1 year	-28.32%	-12.13%	-16.19%
Max Drawdown (5Y) Largest decline over 5 years	-51.14%	-24.50%	-26.64%
Max Drawdown (10Y) Largest decline over 10 years	-51.83%	-33.79%	-18.04%
Current Drawdown Current decline from peak	-28.22%	-8.89%	-19.33%
Average Drawdown Average peak-to-trough decline	-9.36%	-3.83%	-5.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.55%	2.50%	+8.05%

Volatility

MGGPX vs. FXAIX - Volatility Comparison

Morgan Stanley Global Opportunity Portfolio Class A (MGGPX) has a higher volatility of 7.77% compared to Fidelity 500 Index Fund (FXAIX) at 4.24%. This indicates that MGGPX's price experiences larger fluctuations and is considered to be riskier than FXAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGGPX	FXAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.77%	4.24%	+3.53%
Volatility (6M) Calculated over the trailing 6-month period	18.41%	9.08%	+9.33%
Volatility (1Y) Calculated over the trailing 1-year period	24.89%	18.13%	+6.76%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.92%	16.88%	+9.04%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.92%	18.03%	+4.89%