MGKQX vs. MEMEX

Last updated Apr 2, 2026

Compare and contrast key facts about Morgan Stanley Global Permanence Portfolio (MGKQX) and Morgan Stanley Emerging Markets Equity Portfolio (MEMEX).

MGKQX is managed by Morgan Stanley. It was launched on Apr 29, 2019. MEMEX is managed by Morgan Stanley. It was launched on Apr 30, 2017.

Performance

MGKQX vs. MEMEX - Performance Comparison

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

MGKQX vs. MEMEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
MGKQX Morgan Stanley Global Permanence Portfolio	-3.40%	5.52%	10.81%	20.89%	-19.81%	19.55%	27.09%	6.40%
MEMEX Morgan Stanley Emerging Markets Equity Portfolio	3.07%	32.98%	7.82%	11.90%	-25.14%	2.99%	14.40%	8.19%

Returns By Period

In the year-to-date period, MGKQX achieves a -3.40% return, which is significantly lower than MEMEX's 3.07% return.

MGKQX

• 1D: 3.56%
• 1M: -4.75%
• YTD: -3.40%
• 6M: -21.98%
• 1Y: -2.35%
• 3Y*: 6.27%
• 5Y*: 4.57%
• 10Y*: —

MEMEX

• 1D: 3.37%
• 1M: -10.44%
• YTD: 3.07%
• 6M: 9.89%
• 1Y: 34.90%
• 3Y*: 17.22%
• 5Y*: 4.04%
• 10Y*: —

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

MGKQX vs. MEMEX - Expense Ratio Comparison

MGKQX has a 0.95% expense ratio, which is lower than MEMEX's 1.25% expense ratio.

MEMEX

Morgan Stanley Emerging Markets Equity Portfolio

MGKQX

Morgan Stanley Global Permanence Portfolio

Return for Risk

MGKQX vs. MEMEX — Risk / Return Rank

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

MGKQX

MGKQX Risk / Return Rank: 4
MGKQX Sharpe Ratio Rank: 4
MGKQX Sortino Ratio Rank: 4
MGKQX Omega Ratio Rank: 4
MGKQX Calmar Ratio Rank: 4
MGKQX Martin Ratio Rank: 4

MEMEX

MEMEX Risk / Return Rank: 86
MEMEX Sharpe Ratio Rank: 89
MEMEX Sortino Ratio Rank: 86
MEMEX Omega Ratio Rank: 85
MEMEX Calmar Ratio Rank: 84
MEMEX Martin Ratio Rank: 88

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. MEMEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Global Permanence Portfolio (MGKQX) and Morgan Stanley Emerging Markets Equity Portfolio (MEMEX). 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.

	MGKQX	MEMEX	Difference
Sharpe ratio Return per unit of total volatility	-0.06	1.89	-1.96
Sortino ratio Return per unit of downside risk	0.10	2.47	-2.37
Omega ratio Gain probability vs. loss probability	1.02	1.37	-0.35
Calmar ratio Return relative to maximum drawdown	-0.16	2.33	-2.49
Martin ratio Return relative to average drawdown	-0.38	10.22	-10.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MGKQX vs. MEMEX - Sharpe Ratio Comparison

The current MGKQX Sharpe Ratio is -0.06, which is lower than the MEMEX Sharpe Ratio of 1.89. The chart below compares the historical Sharpe Ratios of MGKQX and MEMEX, 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

	MGKQX	MEMEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	-0.06	1.89	-1.96
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.19	0.24	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.36	0.38	-0.01

Correlation

The correlation between MGKQX and MEMEX is 0.68, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MGKQX vs. MEMEX - Dividend Comparison

MGKQX has not paid dividends to shareholders, while MEMEX's dividend yield for the trailing twelve months is around 3.25%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
MGKQX Morgan Stanley Global Permanence Portfolio	0.00%	0.00%	21.29%	5.29%	1.80%	16.33%	0.74%	0.00%	0.00%
MEMEX Morgan Stanley Emerging Markets Equity Portfolio	3.25%	3.35%	1.38%	3.26%	13.18%	0.86%	2.57%	7.81%	0.52%

Drawdowns

MGKQX vs. MEMEX - Drawdown Comparison

The maximum MGKQX drawdown since its inception was -33.07%, smaller than the maximum MEMEX drawdown of -39.90%. Use the drawdown chart below to compare losses from any high point for MGKQX and MEMEX.

Drawdown Indicators

	MGKQX	MEMEX	Difference
Max Drawdown Largest peak-to-trough decline	-33.07%	-39.90%	+6.83%
Max Drawdown (1Y) Largest decline over 1 year	-25.97%	-14.99%	-10.98%
Max Drawdown (5Y) Largest decline over 5 years	-30.96%	-37.30%	+6.34%
Current Drawdown Current decline from peak	-23.27%	-12.13%	-11.14%
Average Drawdown Average peak-to-trough decline	-8.25%	-15.29%	+7.04%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.84%	3.42%	+7.42%

Volatility

MGKQX vs. MEMEX - Volatility Comparison

The current volatility for Morgan Stanley Global Permanence Portfolio (MGKQX) is 6.88%, while Morgan Stanley Emerging Markets Equity Portfolio (MEMEX) has a volatility of 10.46%. This indicates that MGKQX experiences smaller price fluctuations and is considered to be less risky than MEMEX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGKQX	MEMEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.88%	10.46%	-3.58%
Volatility (6M) Calculated over the trailing 6-month period	24.31%	14.61%	+9.70%
Volatility (1Y) Calculated over the trailing 1-year period	27.28%	18.79%	+8.49%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	23.62%	17.31%	+6.31%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.84%	18.06%	+5.78%