MGGPX vs. MACGX
MGGPX (Morgan Stanley Global Opportunity Portfolio Class A) and MACGX (Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A) are both mutual funds - MGGPX is a Global Equities fund tracking the MSCI All Country World Index, while MACGX is a Mid Cap Growth Equities fund managed by Morgan Stanley. Over the past 10 years, MGGPX returned 12.37%/yr vs 13.20%/yr for MACGX. Their 0.78 correlation means they have sometimes moved together and sometimes differently. MGGPX charges 1.25%/yr vs 1.00%/yr for MACGX.
Performance
MGGPX vs. MACGX - Performance Comparison
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Returns By Period
In the year-to-date period, MGGPX achieves a 1.62% return, which is significantly higher than MACGX's -0.24% return. Over the past 10 years, MGGPX has underperformed MACGX with an annualized return of 12.37%, while MACGX has yielded a comparatively higher 13.20% 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%
MACGX
- 1D
- 1.91%
- 1M
- -3.78%
- 6M
- 7.61%
- YTD
- -0.24%
- 1Y
- -11.26%
- 3Y*
- 21.05%
- 5Y*
- -5.94%
- 10Y*
- 13.20%
- ALL TIME*
- 9.73%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MGGPX vs. MACGX - 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% |
MACGX Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A | -0.24% | 13.71% | 42.06% | 46.30% | -63.51% | -12.84% | 142.01% | 39.41% | 11.85% | 38.99% |
Correlation
The correlation between MGGPX and MACGX is 0.72, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.72 |
Correlation (3Y) Balances recent behavior with more history. | 0.75 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.81 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.78 |
Correlation (All Time) Calculated using the full available price history since May 24, 2010 | 0.78 |
The correlation between MGGPX and MACGX has been stable across timeframes, ranging from 0.72 to 0.81 - a consistent structural relationship.
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Return for Risk
MGGPX vs. MACGX — Risk / Return Rank
MGGPX
MACGX
MGGPX vs. MACGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Global Opportunity Portfolio Class A (MGGPX) and Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A (MACGX). 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 | MACGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.01 | ||
| Sortino ratioReturn per unit of downside risk | -0.02 | ||
| Omega ratioGain probability vs. loss probability | 0.96 | 0.97 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.28 | -0.33 | +0.05 |
| Martin ratioReturn relative to average drawdown | -0.57 | -0.65 | +0.08 |
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Drawdowns
MGGPX vs. MACGX - Drawdown Comparison
The maximum MGGPX drawdown since its inception was -51.83%, smaller than the maximum MACGX drawdown of -77.61%. Use the drawdown chart below to compare losses from any high point for MGGPX and MACGX.
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Drawdown Indicators
| MGGPX | MACGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -51.83% | -77.61% | +25.78% |
Max Drawdown (1Y)Largest decline over 1 year | -28.32% | -27.55% | -0.77% |
Max Drawdown (3Y)Largest decline over 3 years | -28.32% | -28.55% | +0.23% |
Max Drawdown (5Y)Largest decline over 5 years | -51.14% | -77.61% | +26.47% |
Max Drawdown (10Y)Largest decline over 10 years | -51.83% | -77.61% | +25.78% |
Current DrawdownCurrent decline from peak | -14.20% | -44.54% | +30.34% |
Average DrawdownAverage peak-to-trough decline | -9.49% | -25.75% | +16.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.94% | 14.00% | -0.06% |
Volatility
MGGPX vs. MACGX - Volatility Comparison
The current volatility for Morgan Stanley Global Opportunity Portfolio Class A (MGGPX) is 6.84%, while Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A (MACGX) has a volatility of 7.33%. This indicates that MGGPX experiences smaller price fluctuations and is considered to be less risky than MACGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGGPX | MACGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.84% | 7.33% | -0.49% |
Volatility (6M)Calculated over the trailing 6-month period | 18.89% | 22.10% | -3.21% |
Volatility (1Y)Calculated over the trailing 1-year period | 24.60% | 29.34% | -4.74% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 26.56% | 48.42% | -21.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.30% | 39.49% | -16.19% |
MGGPX vs. MACGX - Expense Ratio Comparison
MGGPX has a 1.25% expense ratio, which is higher than MACGX's 1.00% expense ratio.
Dividends
MGGPX vs. MACGX - Dividend Comparison
Neither MGGPX nor MACGX has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MACGX Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 52.53% | 9.95% | 15.34% | 29.46% | 48.48% | 75.72% | 14.05% |
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
MGGPX and MACGX have a correlation of 0.72, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MACGX has higher volatility (7.33%) compared to MGGPX (6.84%). In terms of maximum drawdown, MGGPX dropped -51.83% vs MACGX's -77.61%.
MACGX currently has the higher Sharpe Ratio (-0.31 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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