MPEGX vs. BARIX

Last updated Apr 1, 2026

Compare and contrast key facts about Morgan Stanley Institutional Fund Trust Discovery Portfolio (MPEGX) and Baron Asset Fund Institutional Class (BARIX).

MPEGX is managed by Morgan Stanley. It was launched on Mar 30, 1990. BARIX is managed by Baron Capital Group. It was launched on May 29, 2009.

Performance

MPEGX vs. BARIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Institutional Fund Trust Discovery Portfolio (MPEGX) and Baron Asset Fund Institutional Class (BARIX). The values are adjusted to include any dividend payments, if applicable.

MPEGX vs. BARIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MPEGX Morgan Stanley Institutional Fund Trust Discovery Portfolio	-15.37%	14.05%	42.38%	46.66%	-63.39%	-12.37%	142.68%	39.73%	12.19%	39.39%
BARIX Baron Asset Fund Institutional Class	-9.30%	8.17%	10.64%	17.36%	-25.87%	14.17%	33.32%	37.98%	0.13%	26.55%

Returns By Period

In the year-to-date period, MPEGX achieves a -15.37% return, which is significantly lower than BARIX's -9.30% return. Over the past 10 years, MPEGX has outperformed BARIX with an annualized return of 12.57%, while BARIX has yielded a comparatively lower 10.43% annualized return.

MPEGX

• 1D: -1.33%
• 1M: -9.56%
• YTD: -15.37%
• 6M: -23.20%
• 1Y: 4.05%
• 3Y*: 19.96%
• 5Y*: -7.95%
• 10Y*: 12.57%

BARIX

• 1D: 0.01%
• 1M: -7.56%
• YTD: -9.30%
• 6M: -2.18%
• 1Y: 1.03%
• 3Y*: 6.54%
• 5Y*: 1.73%
• 10Y*: 10.43%

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

MPEGX vs. BARIX - Expense Ratio Comparison

MPEGX has a 0.72% expense ratio, which is lower than BARIX's 1.03% expense ratio.

BARIX

Baron Asset Fund Institutional Class

MPEGX

Morgan Stanley Institutional Fund Trust Discovery Portfolio

Return for Risk

MPEGX vs. BARIX — Risk / Return Rank

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

MPEGX

MPEGX Risk / Return Rank: 7
MPEGX Sharpe Ratio Rank: 7
MPEGX Sortino Ratio Rank: 9
MPEGX Omega Ratio Rank: 8
MPEGX Calmar Ratio Rank: 6
MPEGX Martin Ratio Rank: 6

BARIX

BARIX Risk / Return Rank: 8
BARIX Sharpe Ratio Rank: 8
BARIX Sortino Ratio Rank: 9
BARIX Omega Ratio Rank: 8
BARIX Calmar Ratio Rank: 8
BARIX Martin Ratio Rank: 7

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.

MPEGX vs. BARIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Fund Trust Discovery Portfolio (MPEGX) and Baron Asset Fund Institutional Class (BARIX). 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.

	MPEGX	BARIX	Difference
Sharpe ratio Return per unit of total volatility	0.10	0.14	-0.03
Sortino ratio Return per unit of downside risk	0.38	0.36	+0.02
Omega ratio Gain probability vs. loss probability	1.05	1.05	0.00
Calmar ratio Return relative to maximum drawdown	-0.02	0.09	-0.11
Martin ratio Return relative to average drawdown	-0.04	0.23	-0.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MPEGX vs. BARIX - Sharpe Ratio Comparison

The current MPEGX Sharpe Ratio is 0.10, which is comparable to the BARIX Sharpe Ratio of 0.14. The chart below compares the historical Sharpe Ratios of MPEGX and BARIX, 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

	MPEGX	BARIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.10	0.14	-0.03
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.20	0.09	-0.29
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	0.53	-0.16
Sharpe Ratio (All Time) Calculated using the full available price history	0.47	0.64	-0.17

Correlation

The correlation between MPEGX and BARIX is 0.80, 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

MPEGX vs. BARIX - Dividend Comparison

MPEGX has not paid dividends to shareholders, while BARIX's dividend yield for the trailing twelve months is around 11.67%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MPEGX Morgan Stanley Institutional Fund Trust Discovery Portfolio	0.00%	0.00%	0.00%	0.00%	0.00%	35.82%	7.63%	12.05%	23.88%	41.11%	67.79%	13.20%
BARIX Baron Asset Fund Institutional Class	11.67%	10.59%	17.88%	3.28%	0.01%	7.26%	2.92%	1.70%	7.14%	7.01%	4.74%	11.23%

Drawdowns

MPEGX vs. BARIX - Drawdown Comparison

The maximum MPEGX drawdown since its inception was -75.29%, which is greater than BARIX's maximum drawdown of -37.44%. Use the drawdown chart below to compare losses from any high point for MPEGX and BARIX.

Drawdown Indicators

	MPEGX	BARIX	Difference
Max Drawdown Largest peak-to-trough decline	-75.29%	-37.44%	-37.85%
Max Drawdown (1Y) Largest decline over 1 year	-27.46%	-11.12%	-16.34%
Max Drawdown (5Y) Largest decline over 5 years	-72.99%	-37.44%	-35.55%
Max Drawdown (10Y) Largest decline over 10 years	-75.29%	-37.44%	-37.85%
Current Drawdown Current decline from peak	-47.67%	-10.67%	-37.00%
Average Drawdown Average peak-to-trough decline	-21.13%	-6.74%	-14.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	10.76%	4.37%	+6.39%

Volatility

MPEGX vs. BARIX - Volatility Comparison

Morgan Stanley Institutional Fund Trust Discovery Portfolio (MPEGX) has a higher volatility of 8.03% compared to Baron Asset Fund Institutional Class (BARIX) at 3.35%. This indicates that MPEGX's price experiences larger fluctuations and is considered to be riskier than BARIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MPEGX	BARIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.03%	3.35%	+4.68%
Volatility (6M) Calculated over the trailing 6-month period	21.80%	11.71%	+10.09%
Volatility (1Y) Calculated over the trailing 1-year period	31.93%	18.99%	+12.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	40.32%	19.65%	+20.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.32%	19.83%	+14.49%