MINDX vs. MSAQX
MINDX (Matthews India Fund) and MSAQX (Morgan Stanley Institutional Fund, Inc. Asia Opportunity Portfolio) are both mutual funds - MINDX is a India Equities fund managed by Matthews, while MSAQX is a Asia Pacific Equities fund managed by Morgan Stanley. Over the past 10 years, MINDX returned 5.73%/yr vs 9.92%/yr for MSAQX. Their 0.43 correlation means their historical movements had little consistent relationship. MINDX charges 1.15%/yr vs 1.10%/yr for MSAQX.
Performance
MINDX vs. MSAQX - Performance Comparison
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Returns By Period
In the year-to-date period, MINDX achieves a -5.07% return, which is significantly lower than MSAQX's 14.25% return. Over the past 10 years, MINDX has underperformed MSAQX with an annualized return of 5.73%, while MSAQX has yielded a comparatively higher 9.92% annualized return.
MINDX
- 1D
- 1.65%
- 1M
- 2.74%
- 6M
- -1.97%
- YTD
- -5.07%
- 1Y
- -1.12%
- 3Y*
- 5.34%
- 5Y*
- 3.94%
- 10Y*
- 5.73%
- ALL TIME*
- 9.31%
MSAQX
- 1D
- 1.43%
- 1M
- 1.97%
- 6M
- 11.94%
- YTD
- 14.25%
- 1Y
- 8.61%
- 3Y*
- 8.75%
- 5Y*
- -0.98%
- 10Y*
- 9.92%
- ALL TIME*
- 10.15%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
MINDX Matthews India Fund | $0.00 | $0.00 | $0.00 |
| $0.00 | $0.00 | $0.00 |
MINDX vs. MSAQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MINDX Matthews India Fund | -5.07% | 1.61% | 9.99% | 23.14% | -9.87% | 17.87% | 16.46% | -0.79% | -9.80% | 33.76% |
MSAQX Morgan Stanley Institutional Fund, Inc. Asia Opportunity Portfolio | 14.25% | 2.06% | 19.71% | -6.83% | -22.01% | -20.52% | 52.55% | 44.74% | -13.64% | 76.83% |
Correlation
The correlation between MINDX and MSAQX is 0.37, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.37 |
Correlation (3Y) Balances recent behavior with more history. | 0.38 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.41 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.43 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2016 | 0.43 |
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Return for Risk
MINDX vs. MSAQX — Risk / Return Rank
MINDX
MSAQX
MINDX vs. MSAQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Matthews India Fund (MINDX) and Morgan Stanley Institutional Fund, Inc. Asia Opportunity Portfolio (MSAQX). 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.
| MINDX | MSAQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.47 | ||
| Sortino ratioReturn per unit of downside risk | -0.68 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.09 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.04 | 0.43 | -0.48 |
| Martin ratioReturn relative to average drawdown | -0.10 | 1.08 | -1.18 |
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Drawdowns
MINDX vs. MSAQX - Drawdown Comparison
The maximum MINDX drawdown since its inception was -72.18%, which is greater than MSAQX's maximum drawdown of -61.11%. Use the drawdown chart below to compare losses from any high point for MINDX and MSAQX.
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Drawdown Indicators
| MINDX | MSAQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -72.18% | -61.11% | -11.07% |
Max Drawdown (1Y)Largest decline over 1 year | -21.96% | -23.57% | +1.61% |
Max Drawdown (3Y)Largest decline over 3 years | -26.51% | -23.57% | -2.94% |
Max Drawdown (5Y)Largest decline over 5 years | -26.51% | -46.68% | +20.17% |
Max Drawdown (10Y)Largest decline over 10 years | -48.46% | -61.11% | +12.65% |
Current DrawdownCurrent decline from peak | -13.31% | -34.20% | +20.89% |
Average DrawdownAverage peak-to-trough decline | -14.96% | -24.58% | +9.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 9.81% | 9.43% | +0.38% |
Volatility
MINDX vs. MSAQX - Volatility Comparison
The current volatility for Matthews India Fund (MINDX) is 5.16%, while Morgan Stanley Institutional Fund, Inc. Asia Opportunity Portfolio (MSAQX) has a volatility of 8.12%. This indicates that MINDX experiences smaller price fluctuations and is considered to be less risky than MSAQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MINDX | MSAQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 5.16% | 8.12% | -2.96% |
Volatility (6M)Calculated over the trailing 6-month period | 13.69% | 22.04% | -8.35% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.34% | 24.93% | -8.59% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.09% | 24.86% | -8.77% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.52% | 22.72% | -5.20% |
MINDX vs. MSAQX - Expense Ratio Comparison
MINDX has a 1.15% expense ratio, which is higher than MSAQX's 1.10% expense ratio.
Dividends
MINDX vs. MSAQX - Dividend Comparison
MINDX's dividend yield for the trailing twelve months is around 7.12%, while MSAQX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MINDX Matthews India Fund | 7.12% | 6.76% | 15.03% | 3.07% | 15.30% | 9.87% | 3.03% | 12.04% | 16.50% | 0.00% | 0.00% | 0.99% |
MSAQX Morgan Stanley Institutional Fund, Inc. Asia Opportunity Portfolio | 0.00% | 0.00% | 1.82% | 0.26% | 0.00% | 0.88% | 1.06% | 0.05% | 0.69% | 1.12% | 2.24% | 0.00% |
Frequently Asked Questions
MINDX and MSAQX have a correlation of 0.37, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSAQX has higher volatility (8.12%) compared to MINDX (5.16%). In terms of maximum drawdown, MINDX dropped -72.18% vs MSAQX's -61.11%.
MSAQX currently has the higher Sharpe Ratio (0.41 vs -0.06), 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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