MIGIX vs. PRNHX
MIGIX (Morgan Stanley Institutional Fund. Inc. Global Insight Portfolio) and PRNHX (T. Rowe Price New Horizons Fund) are both mutual funds - MIGIX is a Global Equities fund managed by T. Rowe Price, while PRNHX is a Mid Cap Growth Equities fund managed by T. Rowe Price. Over the past 10 years, MIGIX returned 13.42%/yr vs 14.70%/yr for PRNHX. Their correlation of 0.82 suggests significant overlap in exposure. MIGIX charges 1.00%/yr vs 0.75%/yr for PRNHX.
Performance
MIGIX vs. PRNHX - Performance Comparison
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Returns By Period
In the year-to-date period, MIGIX achieves a 2.47% return, which is significantly lower than PRNHX's 15.06% return. Over the past 10 years, MIGIX has underperformed PRNHX with an annualized return of 13.42%, while PRNHX has yielded a comparatively higher 14.70% annualized return.
MIGIX
- 1D
- -1.41%
- 1M
- 5.33%
- YTD
- 2.47%
- 6M
- -2.02%
- 1Y
- 6.43%
- 3Y*
- 27.33%
- 5Y*
- 0.92%
- 10Y*
- 13.42%
PRNHX
- 1D
- 1.21%
- 1M
- 5.05%
- YTD
- 15.06%
- 6M
- 12.99%
- 1Y
- 27.38%
- 3Y*
- 11.94%
- 5Y*
- 1.80%
- 10Y*
- 14.70%
MIGIX vs. PRNHX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MIGIX Morgan Stanley Institutional Fund. Inc. Global Insight Portfolio | 2.47% | 16.07% | 48.18% | 50.84% | -57.66% | -13.31% | 95.07% | 34.53% | -5.73% | 41.70% |
PRNHX T. Rowe Price New Horizons Fund | 15.06% | 3.27% | 8.80% | 21.35% | -36.96% | 9.96% | 58.05% | 56.50% | 3.79% | 31.59% |
Correlation
The correlation between MIGIX and PRNHX is 0.68, 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 | 0.68 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.75 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.83 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.83 |
Correlation (All Time) Calculated using the full available price history since Dec 30, 2010 | 0.82 |
The correlation between MIGIX and PRNHX shifts across timeframes, from 0.68 (1 year) to 0.83 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MIGIX vs. PRNHX — Risk / Return Rank
MIGIX
PRNHX
MIGIX vs. PRNHX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Fund. Inc. Global Insight Portfolio (MIGIX) and T. Rowe Price New Horizons Fund (PRNHX). 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.
| MIGIX | PRNHX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.24 | ||
| Sortino ratioReturn per unit of downside risk | -1.57 | ||
| Omega ratioGain probability vs. loss probability | 1.07 | 1.26 | -0.19 |
| Calmar ratioReturn relative to maximum drawdown | 0.25 | 2.22 | -1.97 |
| Martin ratioReturn relative to average drawdown | 0.52 | 8.57 | -8.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MIGIX | PRNHX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.25 | 1.49 | -1.24 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.02 | 0.07 | -0.06 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.34 | 0.65 | -0.30 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.49 | -0.12 |
Drawdowns
MIGIX vs. PRNHX - Drawdown Comparison
The maximum MIGIX drawdown since its inception was -73.54%, roughly equal to the maximum PRNHX drawdown of -70.96%. Use the drawdown chart below to compare losses from any high point for MIGIX and PRNHX.
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Drawdown Indicators
| MIGIX | PRNHX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -73.54% | -70.96% | -2.58% |
Max Drawdown (1Y)Largest decline over 1 year | -28.44% | -13.12% | -15.32% |
Max Drawdown (3Y)Largest decline over 3 years | -31.83% | -26.65% | -5.18% |
Max Drawdown (5Y)Largest decline over 5 years | -73.54% | -48.37% | -25.17% |
Max Drawdown (10Y)Largest decline over 10 years | -73.54% | -48.37% | -25.17% |
Current DrawdownCurrent decline from peak | -27.03% | -11.36% | -15.67% |
Average DrawdownAverage peak-to-trough decline | -18.01% | -18.38% | +0.37% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 13.57% | 3.39% | +10.18% |
Volatility
MIGIX vs. PRNHX - Volatility Comparison
Morgan Stanley Institutional Fund. Inc. Global Insight Portfolio (MIGIX) has a higher volatility of 8.22% compared to T. Rowe Price New Horizons Fund (PRNHX) at 6.75%. This indicates that MIGIX's price experiences larger fluctuations and is considered to be riskier than PRNHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MIGIX | PRNHX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.22% | 6.75% | +1.47% |
Volatility (6M)Calculated over the trailing 6-month period | 21.74% | 15.55% | +6.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.40% | 19.51% | +8.89% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 50.49% | 24.58% | +25.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 39.16% | 22.83% | +16.33% |
MIGIX vs. PRNHX - Expense Ratio Comparison
MIGIX has a 1.00% expense ratio, which is higher than PRNHX's 0.75% expense ratio.
Dividends
MIGIX vs. PRNHX - Dividend Comparison
MIGIX has not paid dividends to shareholders, while PRNHX's dividend yield for the trailing twelve months is around 10.30%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MIGIX Morgan Stanley Institutional Fund. Inc. Global Insight Portfolio | 0.00% | 0.00% | 1.34% | 0.00% | 0.10% | 56.85% | 3.48% | 4.37% | 4.58% | 11.22% | 2.16% | 7.15% |
PRNHX T. Rowe Price New Horizons Fund | 10.30% | 11.85% | 9.82% | 0.00% | 4.72% | 17.09% | 13.67% | 23.46% | 13.94% | 8.27% | 5.77% | 7.72% |
Frequently Asked Questions
MIGIX and PRNHX have a correlation of 0.68, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MIGIX has higher volatility (8.22%) compared to PRNHX (6.75%). In terms of maximum drawdown, MIGIX dropped -73.54% vs PRNHX's -70.96%.
PRNHX currently has the higher Sharpe Ratio (1.49 vs 0.25), 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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