MMGPX vs. FRSGX
MMGPX (Morgan Stanley Discovery Portfolio) and FRSGX (Franklin Small-Mid Cap Growth Fund) are both Mid Cap Growth Equities funds. Over the past 5 years, MMGPX returned -6.17%/yr vs 6.41%/yr for FRSGX. Their correlation of 0.84 means they have usually moved in the same direction. MMGPX charges 0.04%/yr vs 0.85%/yr for FRSGX.
Performance
MMGPX vs. FRSGX - Performance Comparison
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Returns By Period
In the year-to-date period, MMGPX achieves a -0.96% return, which is significantly lower than FRSGX's 5.00% return.
MMGPX
- 1D
- 2.26%
- 1M
- -3.86%
- 6M
- 4.78%
- YTD
- -0.96%
- 1Y
- -10.52%
- 3Y*
- 17.63%
- 5Y*
- -6.17%
- 10Y*
- —
- ALL TIME*
- 14.86%
FRSGX
- 1D
- 1.53%
- 1M
- -2.59%
- 6M
- 4.61%
- YTD
- 5.00%
- 1Y
- 3.58%
- 3Y*
- 8.69%
- 5Y*
- 6.41%
- 10Y*
- 13.64%
- ALL TIME*
- 11.18%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MMGPX vs. FRSGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MMGPX Morgan Stanley Discovery Portfolio | -0.96% | 12.58% | 41.83% | 44.34% | -63.37% | -11.55% | 152.67% | 40.20% | 10.89% | 28.18% |
FRSGX Franklin Small-Mid Cap Growth Fund | 5.00% | 2.83% | 11.36% | 27.20% | -33.84% | 50.07% | 56.09% | 31.98% | -4.94% | 16.59% |
Correlation
The correlation between MMGPX and FRSGX is 0.77, 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. | 0.77 |
Correlation (3Y) Balances recent behavior with more history. | 0.80 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.85 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017 | 0.84 |
The correlation between MMGPX and FRSGX has been stable across timeframes, ranging from 0.77 to 0.85 - a consistent structural relationship.
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Return for Risk
MMGPX vs. FRSGX — Risk / Return Rank
MMGPX
FRSGX
MMGPX vs. FRSGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Discovery Portfolio (MMGPX) and Franklin Small-Mid Cap Growth Fund (FRSGX). 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.
| MMGPX | FRSGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.02 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.34 | 0.07 | -0.41 |
| Martin ratioReturn relative to average drawdown | -0.66 | 0.20 | -0.85 |
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Drawdowns
MMGPX vs. FRSGX - Drawdown Comparison
The maximum MMGPX drawdown since its inception was -75.38%, which is greater than FRSGX's maximum drawdown of -69.07%. Use the drawdown chart below to compare losses from any high point for MMGPX and FRSGX.
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Drawdown Indicators
| MMGPX | FRSGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.38% | -69.07% | -6.31% |
Max Drawdown (1Y)Largest decline over 1 year | -27.79% | -12.39% | -15.40% |
Max Drawdown (3Y)Largest decline over 3 years | -29.27% | -25.77% | -3.50% |
Max Drawdown (5Y)Largest decline over 5 years | -72.70% | -39.25% | -33.45% |
Max Drawdown (10Y)Largest decline over 10 years | — | -39.25% | — |
Current DrawdownCurrent decline from peak | -40.82% | -4.57% | -36.25% |
Average DrawdownAverage peak-to-trough decline | -30.40% | -18.62% | -11.78% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.47% | 4.15% | +10.32% |
Volatility
MMGPX vs. FRSGX - Volatility Comparison
Morgan Stanley Discovery Portfolio (MMGPX) has a higher volatility of 6.84% compared to Franklin Small-Mid Cap Growth Fund (FRSGX) at 4.02%. This indicates that MMGPX's price experiences larger fluctuations and is considered to be riskier than FRSGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MMGPX | FRSGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.84% | 4.02% | +2.82% |
Volatility (6M)Calculated over the trailing 6-month period | 21.99% | 13.53% | +8.46% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.90% | 16.91% | +11.99% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.83% | 28.46% | +11.37% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.11% | 25.06% | +10.05% |
MMGPX vs. FRSGX - Expense Ratio Comparison
MMGPX has a 0.04% expense ratio, which is lower than FRSGX's 0.85% expense ratio.
Dividends
MMGPX vs. FRSGX - Dividend Comparison
MMGPX has not paid dividends to shareholders, while FRSGX's dividend yield for the trailing twelve months is around 7.77%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FRSGX Franklin Small-Mid Cap Growth Fund | 7.77% | 8.16% | 0.00% | 0.00% | 6.80% | 41.15% | 8.84% | 18.91% | 14.01% | 8.78% | 6.68% | 9.71% |
MMGPX Morgan Stanley Discovery Portfolio | 0.00% | 0.43% | 0.00% | 0.00% | 125.40% | 64.53% | 7.93% | 15.63% | 28.02% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MMGPX and FRSGX have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MMGPX has higher volatility (6.84%) compared to FRSGX (4.02%). In terms of maximum drawdown, MMGPX dropped -75.38% vs FRSGX's -69.07%.
FRSGX currently has the higher Sharpe Ratio (0.05 vs -0.33), 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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