MMGPX vs. RIPIX

Last updated Apr 1, 2026

Compare and contrast key facts about Morgan Stanley Discovery Portfolio (MMGPX) and Royce International Premier Fund Institutional Class (RIPIX).

MMGPX is managed by Morgan Stanley. It was launched on Apr 30, 2017. RIPIX is managed by Royce Investment Partners.

Performance

MMGPX vs. RIPIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Discovery Portfolio (MMGPX) and Royce International Premier Fund Institutional Class (RIPIX). The values are adjusted to include any dividend payments, if applicable.

MMGPX vs. RIPIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MMGPX Morgan Stanley Discovery Portfolio	-14.93%	12.58%	41.83%	44.34%	-81.34%	-11.55%	152.67%	40.20%	-4.97%
RIPIX Royce International Premier Fund Institutional Class	-9.90%	9.89%	-7.04%	8.14%	-26.99%	6.22%	16.11%	34.69%	-12.52%

Returns By Period

In the year-to-date period, MMGPX achieves a -14.93% return, which is significantly lower than RIPIX's -9.90% return.

MMGPX

• 1D: -1.27%
• 1M: -9.08%
• YTD: -14.93%
• 6M: -23.43%
• 1Y: 3.91%
• 3Y*: 19.10%
• 5Y*: -19.96%
• 10Y*: —

RIPIX

• 1D: -0.44%
• 1M: -10.68%
• YTD: -9.90%
• 6M: -12.89%
• 1Y: -0.99%
• 3Y*: -2.49%
• 5Y*: -4.59%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MMGPX vs. RIPIX - Expense Ratio Comparison

MMGPX has a 0.04% expense ratio, which is lower than RIPIX's 1.04% expense ratio.

RIPIX

Royce International Premier Fund Institutional Class

MMGPX

Morgan Stanley Discovery Portfolio

Return for Risk

MMGPX vs. RIPIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MMGPX

MMGPX Risk / Return Rank: 7
MMGPX Sharpe Ratio Rank: 7
MMGPX Sortino Ratio Rank: 8
MMGPX Omega Ratio Rank: 8
MMGPX Calmar Ratio Rank: 6
MMGPX Martin Ratio Rank: 6

RIPIX

RIPIX Risk / Return Rank: 4
RIPIX Sharpe Ratio Rank: 4
RIPIX Sortino Ratio Rank: 3
RIPIX Omega Ratio Rank: 3
RIPIX Calmar Ratio Rank: 4
RIPIX Martin Ratio Rank: 4

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

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.

	MMGPX	RIPIX	Difference
Sharpe ratio Return per unit of total volatility	0.10	-0.14	+0.24
Sortino ratio Return per unit of downside risk	0.38	-0.09	+0.47
Omega ratio Gain probability vs. loss probability	1.05	0.99	+0.06
Calmar ratio Return relative to maximum drawdown	-0.02	-0.19	+0.17
Martin ratio Return relative to average drawdown	-0.05	-0.51	+0.46
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MMGPX vs. RIPIX - Sharpe Ratio Comparison

The current MMGPX Sharpe Ratio is 0.10, which is higher than the RIPIX Sharpe Ratio of -0.14. The chart below compares the historical Sharpe Ratios of MMGPX and RIPIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MMGPX	RIPIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.10	-0.14	+0.24
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.44	-0.30	-0.14
Sharpe Ratio (All Time) Calculated using the full available price history	0.14	0.04	+0.10

Correlation

The correlation between MMGPX and RIPIX is 0.49, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MMGPX vs. RIPIX - Dividend Comparison

MMGPX's dividend yield for the trailing twelve months is around 0.50%, less than RIPIX's 1.62% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
MMGPX Morgan Stanley Discovery Portfolio	0.50%	0.43%	0.00%	0.00%	0.00%	64.53%	7.93%	15.63%	28.02%
RIPIX Royce International Premier Fund Institutional Class	1.62%	1.46%	5.66%	3.09%	3.87%	5.02%	0.36%	0.58%	0.54%

Drawdowns

MMGPX vs. RIPIX - Drawdown Comparison

The maximum MMGPX drawdown since its inception was -87.45%, 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.

Drawdown Indicators

	MMGPX	RIPIX	Difference
Max Drawdown Largest peak-to-trough decline	-87.45%	-41.89%	-45.56%
Max Drawdown (1Y) Largest decline over 1 year	-27.79%	-16.38%	-11.41%
Max Drawdown (5Y) Largest decline over 5 years	-86.09%	-41.89%	-44.20%
Current Drawdown Current decline from peak	-74.10%	-33.58%	-40.52%
Average Drawdown Average peak-to-trough decline	-38.69%	-17.83%	-20.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	11.11%	6.03%	+5.08%

Volatility

MMGPX vs. RIPIX - Volatility Comparison

Morgan Stanley Discovery Portfolio (MMGPX) has a higher volatility of 7.90% compared to Royce International Premier Fund Institutional Class (RIPIX) at 5.45%. 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.

Volatility by Period

	MMGPX	RIPIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.90%	5.45%	+2.45%
Volatility (6M) Calculated over the trailing 6-month period	21.47%	9.22%	+12.25%
Volatility (1Y) Calculated over the trailing 1-year period	31.90%	13.61%	+18.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	45.71%	15.26%	+30.45%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.03%	16.14%	+22.89%