MGKQX vs. SPYG
MGKQX (Morgan Stanley Global Permanence Portfolio) and SPYG (State Street SPDR Portfolio S&P 500 Growth ETF) are both funds - MGKQX is a Global Equities fund managed by Morgan Stanley, while SPYG is a S&P 500 fund tracking the S&P 500 Growth Index. Over the past 5 years, MGKQX returned 3.06%/yr vs 13.61%/yr for SPYG. Their 0.79 correlation means they have sometimes moved together and sometimes differently. MGKQX charges 0.95%/yr vs 0.04%/yr for SPYG.
Performance
MGKQX vs. SPYG - Performance Comparison
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Returns By Period
In the year-to-date period, MGKQX achieves a -0.25% return, which is significantly lower than SPYG's 12.43% return.
MGKQX
- 1D
- -1.39%
- 1M
- -1.56%
- 6M
- -2.04%
- YTD
- -0.25%
- 1Y
- -15.35%
- 3Y*
- 4.55%
- 5Y*
- 3.06%
- 10Y*
- —
- ALL TIME*
- 8.67%
SPYG
- 1D
- 2.15%
- 1M
- 2.10%
- 6M
- 11.46%
- YTD
- 12.43%
- 1Y
- 24.33%
- 3Y*
- 25.98%
- 5Y*
- 13.61%
- 10Y*
- 17.52%
- ALL TIME*
- 7.54%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $323.67M | $273.71M | $308.17M |
MGKQX vs. SPYG - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
MGKQX Morgan Stanley Global Permanence Portfolio | -0.25% | 5.52% | 10.81% | 20.89% | -19.81% | 19.55% | 27.09% | 6.40% |
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 12.43% | 22.09% | 35.99% | 30.02% | -29.41% | 32.01% | 33.46% | 9.58% |
Correlation
The correlation between MGKQX and SPYG is 0.58, 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. | 0.58 |
Correlation (3Y) Balances recent behavior with more history. | 0.64 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.76 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2019 | 0.79 |
Over the past year, the correlation between MGKQX and SPYG has dropped to 0.58 - well below their long-term average of 0.79, suggesting their price drivers have been diverging.
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Return for Risk
MGKQX vs. SPYG — Risk / Return Rank
MGKQX
SPYG
MGKQX vs. SPYG - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Global Permanence Portfolio (MGKQX) and State Street SPDR Portfolio S&P 500 Growth ETF (SPYG). 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 | SPYG | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.96 | ||
| Sortino ratioReturn per unit of downside risk | -2.54 | ||
| Omega ratioGain probability vs. loss probability | 0.89 | 1.24 | -0.34 |
| Calmar ratioReturn relative to maximum drawdown | -0.63 | 1.78 | -2.40 |
| Martin ratioReturn relative to average drawdown | -1.01 | 6.45 | -7.45 |
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Drawdowns
MGKQX vs. SPYG - Drawdown Comparison
The maximum MGKQX drawdown since its inception was -33.07%, smaller than the maximum SPYG drawdown of -67.63%. Use the drawdown chart below to compare losses from any high point for MGKQX and SPYG.
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Drawdown Indicators
| MGKQX | SPYG | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.07% | -67.63% | +34.56% |
Max Drawdown (1Y)Largest decline over 1 year | -25.97% | -13.76% | -12.21% |
Max Drawdown (3Y)Largest decline over 3 years | -25.97% | -22.14% | -3.83% |
Max Drawdown (5Y)Largest decline over 5 years | -30.96% | -32.67% | +1.71% |
Max Drawdown (10Y)Largest decline over 10 years | — | -32.67% | — |
Current DrawdownCurrent decline from peak | -20.76% | -2.28% | -18.48% |
Average DrawdownAverage peak-to-trough decline | -8.81% | -24.20% | +15.39% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.05% | 3.78% | +12.27% |
Volatility
MGKQX vs. SPYG - Volatility Comparison
The current volatility for Morgan Stanley Global Permanence Portfolio (MGKQX) is 4.57%, while State Street SPDR Portfolio S&P 500 Growth ETF (SPYG) has a volatility of 6.35%. This indicates that MGKQX experiences smaller price fluctuations and is considered to be less risky than SPYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGKQX | SPYG | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.57% | 6.35% | -1.78% |
Volatility (6M)Calculated over the trailing 6-month period | 15.03% | 14.96% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 26.22% | 18.23% | +7.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 23.95% | 21.53% | +2.42% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 23.66% | 20.81% | +2.85% |
MGKQX vs. SPYG - Expense Ratio Comparison
MGKQX has a 0.95% expense ratio, which is higher than SPYG's 0.04% expense ratio.
Dividends
MGKQX vs. SPYG - Dividend Comparison
MGKQX has not paid dividends to shareholders, while SPYG's dividend yield for the trailing twelve months is around 0.48%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MGKQX Morgan Stanley Global Permanence Portfolio | 0.00% | 0.00% | 21.29% | 5.29% | 1.80% | 16.33% | 0.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
SPYG State Street SPDR Portfolio S&P 500 Growth ETF | 0.48% | 0.52% | 0.60% | 1.15% | 1.03% | 0.62% | 0.90% | 1.37% | 1.51% | 1.41% | 1.55% | 1.57% |
Frequently Asked Questions
MGKQX and SPYG have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SPYG has higher volatility (6.35%) compared to MGKQX (4.57%). In terms of maximum drawdown, MGKQX dropped -33.07% vs SPYG's -67.63%.
SPYG currently has the higher Sharpe Ratio (1.34 vs -0.62), 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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