MGQIX vs. TRRJX

Last updated Jul 18, 2026

MGQIX (Morgan Stanley Institutional Fund, Inc. Global Sustain Portfolio) and TRRJX (T. Rowe Price Retirement 2035 Fund) are both mutual funds - MGQIX is a Global Equities fund managed by T. Rowe Price, while TRRJX is a Target Retirement Date fund actively managed by T. Rowe Price. Over the past 10 years, MGQIX returned 6.55%/yr vs 9.54%/yr for TRRJX. Their correlation of 0.85 suggests significant overlap in exposure. MGQIX charges 0.90%/yr vs 0.58%/yr for TRRJX.

Performance

MGQIX vs. TRRJX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Institutional Fund, Inc. Global Sustain Portfolio (MGQIX) and T. Rowe Price Retirement 2035 Fund (TRRJX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MGQIX achieves a -2.26% return, which is significantly lower than TRRJX's 8.73% return. Over the past 10 years, MGQIX has underperformed TRRJX with an annualized return of 6.55%, while TRRJX has yielded a comparatively higher 9.54% annualized return.

MGQIX

• 1D: -0.46%
• 1M: 3.02%
• 6M: -3.79%
• YTD: -2.26%
• 1Y: -29.23%
• 3Y*: -1.42%
• 5Y*: -1.19%
• 10Y*: 6.55%

TRRJX

• 1D: -0.31%
• 1M: 0.67%
• 6M: 5.87%
• YTD: 8.73%
• 1Y: 11.83%
• 3Y*: 12.28%
• 5Y*: 6.41%
• 10Y*: 9.54%

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

MGQIX vs. TRRJX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGQIX Morgan Stanley Institutional Fund, Inc. Global Sustain Portfolio	-2.26%	-19.55%	16.34%	21.69%	-20.69%	18.61%	15.97%	32.94%	0.43%	21.67%
TRRJX T. Rowe Price Retirement 2035 Fund	8.73%	10.96%	11.99%	18.14%	-17.96%	15.21%	17.04%	23.72%	-6.95%	20.89%

Correlation

The correlation between MGQIX and TRRJX is 0.78, 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	0.78
Correlation (3Y) Calculated over the trailing 3-year period	0.81
Correlation (5Y) Calculated over the trailing 5-year period	0.86
Correlation (10Y) Calculated over the trailing 10-year period	0.85
Correlation (All Time) Calculated using the full available price history since Sep 4, 2013	0.85

The correlation between MGQIX and TRRJX has been stable across timeframes, ranging from 0.78 to 0.86 - a consistent structural relationship.

Return for Risk

MGQIX vs. TRRJX — Risk / Return Rank

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

MGQIX

MGQIX Risk / Return Rank: 0
MGQIX Sharpe Ratio Rank: 0
MGQIX Sortino Ratio Rank: 1
MGQIX Omega Ratio Rank: 0
MGQIX Calmar Ratio Rank: 0
MGQIX Martin Ratio Rank: 1

TRRJX

TRRJX Risk / Return Rank: 26
TRRJX Sharpe Ratio Rank: 24
TRRJX Sortino Ratio Rank: 21
TRRJX Omega Ratio Rank: 27
TRRJX Calmar Ratio Rank: 25
TRRJX Martin Ratio Rank: 32

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.

MGQIX vs. TRRJX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Fund, Inc. Global Sustain Portfolio (MGQIX) and T. Rowe Price Retirement 2035 Fund (TRRJX). 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.

	MGQIX	TRRJX	Difference
Sharpe ratio: Return per unit of total volatility	-0.99	1.15	-2.14
Sortino ratio: Return per unit of downside risk	-1.06	1.60	-2.65
Omega ratio: Gain probability vs. loss probability	0.74	1.22	-0.48
Calmar ratio: Return relative to maximum drawdown	-0.77	1.57	-2.34
Martin ratio: Return relative to average drawdown	-1.23	5.96	-7.19

MGQIX vs. TRRJX - Sharpe Ratio Comparison

The current MGQIX Sharpe Ratio is -0.99, which is lower than the TRRJX Sharpe Ratio of 1.15. The chart below compares the historical Sharpe Ratios of MGQIX and TRRJX, 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

MGQIX vs. TRRJX - Drawdown Comparison

The maximum MGQIX drawdown since its inception was -47.63%, smaller than the maximum TRRJX drawdown of -53.57%. Use the drawdown chart below to compare losses from any high point for MGQIX and TRRJX.

Drawdown Indicators

	MGQIX	TRRJX	Difference
Max Drawdown Largest peak-to-trough decline	-47.63%	-53.57%	+5.94%
Max Drawdown (1Y) Largest decline over 1 year	-37.59%	-8.06%	-29.53%
Max Drawdown (3Y) Largest decline over 3 years	-47.63%	-12.52%	-35.11%
Max Drawdown (5Y) Largest decline over 5 years	-47.63%	-25.85%	-21.78%
Max Drawdown (10Y) Largest decline over 10 years	-47.63%	-30.14%	-17.49%
Current Drawdown Current decline from peak	-40.98%	-0.74%	-40.24%
Average Drawdown Average peak-to-trough decline	-7.59%	-6.62%	-0.97%
Ulcer Index Depth and duration of drawdowns from previous peaks	23.44%	2.10%	+21.34%

Volatility

MGQIX vs. TRRJX - Volatility Comparison

Morgan Stanley Institutional Fund, Inc. Global Sustain Portfolio (MGQIX) has a higher volatility of 3.80% compared to T. Rowe Price Retirement 2035 Fund (TRRJX) at 2.72%. This indicates that MGQIX's price experiences larger fluctuations and is considered to be riskier than TRRJX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGQIX	TRRJX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.80%	2.72%	+1.08%
Volatility (6M) Calculated over the trailing 6-month period	12.06%	8.77%	+3.29%
Volatility (1Y) Calculated over the trailing 1-year period	29.19%	11.05%	+18.14%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	26.11%	12.93%	+13.18%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.87%	13.46%	+8.41%

MGQIX vs. TRRJX - Expense Ratio Comparison

MGQIX has a 0.90% expense ratio, which is higher than TRRJX's 0.58% expense ratio.

Dividends

MGQIX vs. TRRJX - Dividend Comparison

Neither MGQIX nor TRRJX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MGQIX Morgan Stanley Institutional Fund, Inc. Global Sustain Portfolio	0.00%	0.00%	30.72%	0.47%	0.71%	1.79%	2.54%	4.84%	8.37%	5.51%	8.22%	3.11%
TRRJX T. Rowe Price Retirement 2035 Fund	0.00%	0.00%	2.36%	4.68%	9.67%	6.89%	4.80%	5.68%	8.55%	3.80%	2.89%	4.05%

Frequently Asked Questions

Can I hold both MGQIX and TRRJX in my portfolio?

MGQIX and TRRJX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGQIX or TRRJX?

MGQIX has higher volatility (3.80%) compared to TRRJX (2.72%). In terms of maximum drawdown, MGQIX dropped -47.63% vs TRRJX's -53.57%.

Which has better risk-adjusted returns?

TRRJX currently has the higher Sharpe Ratio (1.15 vs -0.99), 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.