MMGPX vs. RIPIX
MMGPX (Morgan Stanley Discovery Portfolio) and RIPIX (Royce International Premier Fund Institutional Class) are both Mid Cap Growth Equities funds. Over the past 5 years, MMGPX returned -6.17%/yr vs -4.45%/yr for RIPIX. Their 0.50 correlation means they have sometimes moved together and sometimes differently. MMGPX charges 0.04%/yr vs 1.04%/yr for RIPIX.
Performance
MMGPX vs. RIPIX - 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 RIPIX's 1.92% 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%
RIPIX
- 1D
- 2.16%
- 1M
- -0.16%
- 6M
- 1.27%
- YTD
- 1.92%
- 1Y
- -2.65%
- 3Y*
- 2.08%
- 5Y*
- -4.45%
- 10Y*
- —
- ALL TIME*
- 2.19%
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. RIPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MMGPX Morgan Stanley Discovery Portfolio | -0.96% | 12.58% | 41.83% | 44.34% | -63.37% | -11.55% | 152.67% | 40.20% | -4.43% |
RIPIX Royce International Premier Fund Institutional Class | 1.92% | 9.89% | -7.04% | 8.14% | -26.99% | 6.22% | 16.11% | 34.69% | -12.52% |
Correlation
The correlation between MMGPX and RIPIX is 0.56, 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. | 0.56 |
Correlation (3Y) Balances recent behavior with more history. | 0.52 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.55 |
Correlation (All Time) Calculated using the full available price history since May 18, 2018 | 0.50 |
The correlation between MMGPX and RIPIX has been stable across timeframes, ranging from 0.50 to 0.56 - a consistent structural relationship.
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Return for Risk
MMGPX vs. RIPIX — Risk / Return Rank
MMGPX
RIPIX
MMGPX vs. RIPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Discovery Portfolio (MMGPX) and Royce International Premier Fund Institutional Class (RIPIX). 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 | RIPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.10 | ||
| Omega ratioGain probability vs. loss probability | 0.97 | 0.98 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | -0.34 | -0.17 | -0.17 |
| Martin ratioReturn relative to average drawdown | -0.66 | -0.43 | -0.23 |
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Drawdowns
MMGPX vs. RIPIX - Drawdown Comparison
The maximum MMGPX drawdown since its inception was -75.38%, which is greater than RIPIX's maximum drawdown of -41.89%. Use the drawdown chart below to compare losses from any high point for MMGPX and RIPIX.
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Drawdown Indicators
| MMGPX | RIPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -75.38% | -41.89% | -33.49% |
Max Drawdown (1Y)Largest decline over 1 year | -27.79% | -15.33% | -12.46% |
Max Drawdown (3Y)Largest decline over 3 years | -29.27% | -17.28% | -11.99% |
Max Drawdown (5Y)Largest decline over 5 years | -72.70% | -41.89% | -30.81% |
Current DrawdownCurrent decline from peak | -40.82% | -24.88% | -15.94% |
Average DrawdownAverage peak-to-trough decline | -30.40% | -18.16% | -12.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 14.47% | 6.21% | +8.26% |
Volatility
MMGPX vs. RIPIX - Volatility Comparison
Morgan Stanley Discovery Portfolio (MMGPX) has a higher volatility of 6.84% compared to Royce International Premier Fund Institutional Class (RIPIX) at 4.62%. This indicates that MMGPX's price experiences larger fluctuations and is considered to be riskier than RIPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MMGPX | RIPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.84% | 4.62% | +2.22% |
Volatility (6M)Calculated over the trailing 6-month period | 21.99% | 11.56% | +10.43% |
Volatility (1Y)Calculated over the trailing 1-year period | 28.90% | 13.80% | +15.10% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 39.83% | 15.54% | +24.29% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 35.11% | 16.13% | +18.98% |
MMGPX vs. RIPIX - Expense Ratio Comparison
MMGPX has a 0.04% expense ratio, which is lower than RIPIX's 1.04% expense ratio.
Dividends
MMGPX vs. RIPIX - Dividend Comparison
MMGPX has not paid dividends to shareholders, while RIPIX's dividend yield for the trailing twelve months is around 1.43%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
MMGPX Morgan Stanley Discovery Portfolio | 0.00% | 0.43% | 0.00% | 0.00% | 125.40% | 64.53% | 7.93% | 15.63% | 28.02% |
RIPIX Royce International Premier Fund Institutional Class | 1.43% | 1.46% | 5.66% | 3.09% | 3.87% | 5.02% | 0.36% | 0.58% | 0.54% |
Frequently Asked Questions
MMGPX and RIPIX have a correlation of 0.56, 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 RIPIX (4.62%). In terms of maximum drawdown, MMGPX dropped -75.38% vs RIPIX's -41.89%.
RIPIX currently has the higher Sharpe Ratio (-0.19 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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