MIOIX vs. SPY
Compare and contrast key facts about Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio (MIOIX) and State Street SPDR S&P 500 ETF (SPY).
MIOIX is managed by T. Rowe Price. It was launched on Mar 30, 2010. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
MIOIX vs. SPY - Performance Comparison
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MIOIX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MIOIX Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio | -10.22% | 12.64% | 19.32% | 21.11% | -43.76% | -5.25% | 55.49% | 35.20% | -12.03% | 53.41% |
SPY State Street SPDR S&P 500 ETF | -3.65% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 21.71% |
Returns By Period
In the year-to-date period, MIOIX achieves a -10.22% return, which is significantly lower than SPY's -3.65% return. Over the past 10 years, MIOIX has underperformed SPY with an annualized return of 8.54%, while SPY has yielded a comparatively higher 14.06% annualized return.
MIOIX
- 1D
- 3.73%
- 1M
- -10.92%
- YTD
- -10.22%
- 6M
- -13.17%
- 1Y
- -1.10%
- 3Y*
- 7.75%
- 5Y*
- -5.30%
- 10Y*
- 8.54%
SPY
- 1D
- 0.75%
- 1M
- -4.28%
- YTD
- -3.65%
- 6M
- -1.42%
- 1Y
- 18.14%
- 3Y*
- 18.48%
- 5Y*
- 11.86%
- 10Y*
- 14.06%
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MIOIX vs. SPY - Expense Ratio Comparison
MIOIX has a 1.00% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
MIOIX vs. SPY — Risk / Return Rank
MIOIX
SPY
MIOIX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio (MIOIX) and State Street SPDR S&P 500 ETF (SPY). 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.
| MIOIX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.05 | 0.96 | -1.01 |
Sortino ratioReturn per unit of downside risk | 0.07 | 1.49 | -1.43 |
Omega ratioGain probability vs. loss probability | 1.01 | 1.23 | -0.22 |
Calmar ratioReturn relative to maximum drawdown | -0.12 | 1.53 | -1.65 |
Martin ratioReturn relative to average drawdown | -0.41 | 7.27 | -7.67 |
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
| MIOIX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.05 | 0.96 | -1.01 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.21 | 0.70 | -0.91 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.79 | -0.40 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.43 | 0.56 | -0.13 |
Correlation
The correlation between MIOIX and SPY is 0.74, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
MIOIX vs. SPY - Dividend Comparison
MIOIX has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.13%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MIOIX Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio | 0.00% | 0.00% | 0.16% | 0.00% | 9.25% | 2.13% | 0.24% | 0.00% | 0.24% | 1.63% | 0.02% | 3.15% |
SPY State Street SPDR S&P 500 ETF | 1.13% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
MIOIX vs. SPY - Drawdown Comparison
The maximum MIOIX drawdown since its inception was -60.88%, which is greater than SPY's maximum drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for MIOIX and SPY.
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Drawdown Indicators
| MIOIX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.88% | -55.19% | -5.69% |
Max Drawdown (1Y)Largest decline over 1 year | -18.50% | -12.05% | -6.45% |
Max Drawdown (5Y)Largest decline over 5 years | -56.75% | -24.50% | -32.25% |
Max Drawdown (10Y)Largest decline over 10 years | -60.88% | -33.72% | -27.16% |
Current DrawdownCurrent decline from peak | -34.06% | -5.53% | -28.53% |
Average DrawdownAverage peak-to-trough decline | -15.69% | -9.09% | -6.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.27% | 2.54% | +2.73% |
Volatility
MIOIX vs. SPY - Volatility Comparison
Morgan Stanley Institutional Fund, Inc. International Opportunity Portfolio (MIOIX) has a higher volatility of 9.82% compared to State Street SPDR S&P 500 ETF (SPY) at 5.35%. This indicates that MIOIX's price experiences larger fluctuations and is considered to be riskier than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MIOIX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.82% | 5.35% | +4.47% |
Volatility (6M)Calculated over the trailing 6-month period | 14.69% | 9.50% | +5.19% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.38% | 19.06% | +1.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.85% | 17.06% | +7.79% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.93% | 17.92% | +4.01% |