MGKQX vs. MDOEX

Last updated Jun 26, 2026

MGKQX (Morgan Stanley Global Permanence Portfolio) and MDOEX (Morgan Stanley Developing Opportunity Portfolio) are both mutual funds - MGKQX is a Global Equities fund managed by Morgan Stanley, while MDOEX is a Emerging Markets Diversified fund managed by Morgan Stanley. Over the past 5 years, MGKQX returned 2.99%/yr vs -3.23%/yr for MDOEX. A 0.66 correlation means they provide meaningful diversification when combined. MGKQX charges 0.95%/yr vs 1.15%/yr for MDOEX.

Performance

MGKQX vs. MDOEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Global Permanence Portfolio (MGKQX) and Morgan Stanley Developing Opportunity Portfolio (MDOEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MGKQX achieves a -2.90% return, which is significantly lower than MDOEX's 13.27% return.

MGKQX

• 1D: 0.09%
• 1M: -3.07%
• YTD: -2.90%
• 6M: -5.26%
• 1Y: -18.30%
• 3Y*: 5.35%
• 5Y*: 2.99%
• 10Y*: —

MDOEX

• 1D: 1.33%
• 1M: 0.33%
• YTD: 13.27%
• 6M: 13.06%
• 1Y: 8.76%
• 3Y*: 13.70%
• 5Y*: -3.23%
• 10Y*: —

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

MGKQX vs. MDOEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MGKQX Morgan Stanley Global Permanence Portfolio	-2.90%	5.52%	10.81%	20.89%	-19.81%	19.55%	21.71%
MDOEX Morgan Stanley Developing Opportunity Portfolio	13.27%	8.28%	16.79%	5.36%	-30.36%	-18.69%	45.00%

Correlation

The correlation between MGKQX and MDOEX is 0.60, 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	0.60
Correlation (3Y) Calculated over the trailing 3-year period	0.59
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (All Time) Calculated using the full available price history since Feb 14, 2020	0.66

The correlation between MGKQX and MDOEX has been stable across timeframes, ranging from 0.59 to 0.66 - a consistent structural relationship.

Return for Risk

MGKQX vs. MDOEX — Risk / Return Rank

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

MGKQX

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

MDOEX

MDOEX Risk / Return Rank: 7
MDOEX Sharpe Ratio Rank: 6
MDOEX Sortino Ratio Rank: 7
MDOEX Omega Ratio Rank: 7
MDOEX Calmar Ratio Rank: 6
MDOEX Martin Ratio Rank: 6

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.

MGKQX vs. MDOEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Global Permanence Portfolio (MGKQX) and Morgan Stanley Developing Opportunity Portfolio (MDOEX). 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.

	MGKQX	MDOEX	Difference
Sharpe ratio: Return per unit of total volatility	-0.72	0.34	-1.06
Sortino ratio: Return per unit of downside risk	-0.75	0.64	-1.39
Omega ratio: Gain probability vs. loss probability	0.87	1.09	-0.22
Calmar ratio: Return relative to maximum drawdown	-0.72	0.39	-1.10
Martin ratio: Return relative to average drawdown	-1.27	1.04	-2.31

MGKQX vs. MDOEX - Sharpe Ratio Comparison

The current MGKQX Sharpe Ratio is -0.72, which is lower than the MDOEX Sharpe Ratio of 0.34. The chart below compares the historical Sharpe Ratios of MGKQX and MDOEX, 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

MGKQX vs. MDOEX - Drawdown Comparison

The maximum MGKQX drawdown since its inception was -33.07%, smaller than the maximum MDOEX drawdown of -59.92%. Use the drawdown chart below to compare losses from any high point for MGKQX and MDOEX.

Drawdown Indicators

	MGKQX	MDOEX	Difference
Max Drawdown Largest peak-to-trough decline	-33.07%	-59.92%	+26.85%
Max Drawdown (1Y) Largest decline over 1 year	-25.97%	-21.82%	-4.15%
Max Drawdown (3Y) Largest decline over 3 years	-25.97%	-21.82%	-4.15%
Max Drawdown (5Y) Largest decline over 5 years	-30.96%	-52.60%	+21.64%
Current Drawdown Current decline from peak	-22.87%	-28.34%	+5.47%
Average Drawdown Average peak-to-trough decline	-8.65%	-34.97%	+26.32%
Ulcer Index Depth and duration of drawdowns from previous peaks	14.69%	8.07%	+6.62%

Volatility

MGKQX vs. MDOEX - Volatility Comparison

The current volatility for Morgan Stanley Global Permanence Portfolio (MGKQX) is 6.60%, while Morgan Stanley Developing Opportunity Portfolio (MDOEX) has a volatility of 14.32%. This indicates that MGKQX experiences smaller price fluctuations and is considered to be less risky than MDOEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGKQX	MDOEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.60%	14.32%	-7.72%
Volatility (6M) Calculated over the trailing 6-month period	15.26%	22.51%	-7.25%
Volatility (1Y) Calculated over the trailing 1-year period	25.91%	24.61%	+1.30%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.91%	24.13%	-0.22%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.76%	25.12%	-1.36%

MGKQX vs. MDOEX - Expense Ratio Comparison

MGKQX has a 0.95% expense ratio, which is lower than MDOEX's 1.15% expense ratio.

Dividends

MGKQX vs. MDOEX - Dividend Comparison

MGKQX has not paid dividends to shareholders, while MDOEX's dividend yield for the trailing twelve months is around 0.65%.

Position	TTM	2025	2024	2023	2022	2021	2020
MDOEX Morgan Stanley Developing Opportunity Portfolio	0.65%	0.74%	0.76%	0.00%	0.00%	0.00%	0.00%
MGKQX Morgan Stanley Global Permanence Portfolio	0.00%	0.00%	21.29%	5.29%	1.80%	16.33%	0.74%

Frequently Asked Questions

Can I hold both MGKQX and MDOEX in my portfolio?

MGKQX and MDOEX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGKQX or MDOEX?

MDOEX has higher volatility (14.32%) compared to MGKQX (6.60%). In terms of maximum drawdown, MGKQX dropped -33.07% vs MDOEX's -59.92%.

Which has better risk-adjusted returns?

MDOEX currently has the higher Sharpe Ratio (0.34 vs -0.72), 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.