MMGPX vs. PMEGX
MMGPX (Morgan Stanley Discovery Portfolio) and PMEGX (T. Rowe Price Institutional Mid Cap Equity Growth Fund) are both Mid Cap Growth Equities funds. Over the past 5 years, MMGPX returned -6.17%/yr vs 2.15%/yr for PMEGX. Their 0.73 correlation means they have sometimes moved together and sometimes differently. MMGPX charges 0.04%/yr vs 0.61%/yr for PMEGX.
Performance
MMGPX vs. PMEGX - 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 PMEGX's 3.03% 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%
PMEGX
- 1D
- 0.47%
- 1M
- -1.53%
- 6M
- 2.67%
- YTD
- 3.03%
- 1Y
- 6.19%
- 3Y*
- 6.28%
- 5Y*
- 2.15%
- 10Y*
- 9.78%
- ALL TIME*
- 10.81%
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. PMEGX - 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% |
PMEGX T. Rowe Price Institutional Mid Cap Equity Growth Fund | 3.03% | 3.73% | 9.15% | 20.69% | -23.19% | 15.50% | 23.95% | 33.08% | -2.23% | 21.86% |
Correlation
The correlation between MMGPX and PMEGX is 0.62, 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. | 0.62 |
Correlation (3Y) Balances recent behavior with more history. | 0.69 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.76 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017 | 0.73 |
The correlation between MMGPX and PMEGX shifts across timeframes, from 0.62 (1 year) to 0.76 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MMGPX vs. PMEGX — Risk / Return Rank
MMGPX
PMEGX
MMGPX vs. PMEGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Discovery Portfolio (MMGPX) and T. Rowe Price Institutional Mid Cap Equity Growth Fund (PMEGX). 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 | PMEGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.64 | ||
| Sortino ratioReturn per unit of downside risk | -0.84 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 1.06 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | -0.34 | 0.41 | -0.76 |
| Martin ratioReturn relative to average drawdown | -0.66 | 1.39 | -2.05 |
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Drawdowns
MMGPX vs. PMEGX - Drawdown Comparison
The maximum MMGPX drawdown since its inception was -75.38%, which is greater than PMEGX's maximum drawdown of -55.88%. Use the drawdown chart below to compare losses from any high point for MMGPX and PMEGX.
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Drawdown Indicators
| MMGPX | PMEGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.38% | -55.88% | -19.50% |
Max Drawdown (1Y)Largest decline over 1 year | -27.79% | -10.21% | -17.58% |
Max Drawdown (3Y)Largest decline over 3 years | -29.27% | -27.99% | -1.28% |
Max Drawdown (5Y)Largest decline over 5 years | -72.70% | -32.87% | -39.83% |
Max Drawdown (10Y)Largest decline over 10 years | — | -37.16% | — |
Current DrawdownCurrent decline from peak | -40.82% | -6.20% | -34.62% |
Average DrawdownAverage peak-to-trough decline | -30.40% | -8.99% | -21.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.47% | 3.04% | +11.43% |
Volatility
MMGPX vs. PMEGX - Volatility Comparison
Morgan Stanley Discovery Portfolio (MMGPX) has a higher volatility of 6.84% compared to T. Rowe Price Institutional Mid Cap Equity Growth Fund (PMEGX) at 2.50%. This indicates that MMGPX's price experiences larger fluctuations and is considered to be riskier than PMEGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MMGPX | PMEGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.84% | 2.50% | +4.34% |
Volatility (6M)Calculated over the trailing 6-month period | 21.99% | 10.49% | +11.50% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.90% | 13.64% | +15.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.83% | 20.11% | +19.72% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.11% | 19.75% | +15.36% |
MMGPX vs. PMEGX - Expense Ratio Comparison
MMGPX has a 0.04% expense ratio, which is lower than PMEGX's 0.61% expense ratio.
Dividends
MMGPX vs. PMEGX - Dividend Comparison
MMGPX has not paid dividends to shareholders, while PMEGX's dividend yield for the trailing twelve months is around 20.48%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PMEGX T. Rowe Price Institutional Mid Cap Equity Growth Fund | 20.48% | 21.10% | 14.15% | 7.07% | 1.65% | 12.80% | 4.44% | 5.11% | 10.42% | 6.30% | 1.04% | 6.18% |
Frequently Asked Questions
MMGPX and PMEGX have a correlation of 0.62, 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 PMEGX (2.50%). In terms of maximum drawdown, MMGPX dropped -75.38% vs PMEGX's -55.88%.
PMEGX currently has the higher Sharpe Ratio (0.31 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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