MPFDX vs. MACGX
MPFDX (Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio) and MACGX (Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A) are both mutual funds - MPFDX is a Corporate Bonds fund managed by Morgan Stanley, while MACGX is a Mid Cap Growth Equities fund managed by Morgan Stanley. Over the past 10 years, MPFDX returned 2.96%/yr vs 14.30%/yr for MACGX. At a correlation of -0.03, they often move in opposite directions. MPFDX charges 0.70%/yr vs 1.00%/yr for MACGX.
Performance
MPFDX vs. MACGX - Performance Comparison
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Returns By Period
In the year-to-date period, MPFDX achieves a 0.70% return, which is significantly lower than MACGX's 3.68% return. Over the past 10 years, MPFDX has underperformed MACGX with an annualized return of 2.96%, while MACGX has yielded a comparatively higher 14.30% annualized return.
MPFDX
- 1D
- 0.12%
- 1M
- 0.59%
- 6M
- 0.70%
- YTD
- 0.70%
- 1Y
- 4.15%
- 3Y*
- 5.68%
- 5Y*
- 0.44%
- 10Y*
- 2.96%
MACGX
- 1D
- -0.17%
- 1M
- 4.88%
- 6M
- 2.75%
- YTD
- 3.68%
- 1Y
- -3.43%
- 3Y*
- 23.33%
- 5Y*
- -5.99%
- 10Y*
- 14.30%
MPFDX vs. MACGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MPFDX Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio | 0.70% | 7.75% | 2.69% | 10.05% | -16.28% | -1.92% | 10.32% | 15.73% | -3.87% | 6.91% |
MACGX Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A | 3.68% | 13.71% | 42.06% | 46.30% | -63.51% | -12.84% | 142.01% | 39.41% | 11.85% | 38.99% |
Correlation
The correlation between MPFDX and MACGX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.33 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.27 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.25 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.17 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 1997 | -0.03 |
The correlation between MPFDX and MACGX shifts across timeframes, from -0.03 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MPFDX vs. MACGX — Risk / Return Rank
MPFDX
MACGX
MPFDX vs. MACGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio (MPFDX) and Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A (MACGX). 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.
| MPFDX | MACGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.08 | ||
| Sortino ratioReturn per unit of downside risk | +1.36 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.01 | +0.16 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | -0.09 | +1.42 |
| Martin ratioReturn relative to average drawdown | 4.16 | -0.18 | +4.34 |
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Drawdowns
MPFDX vs. MACGX - Drawdown Comparison
The maximum MPFDX drawdown since its inception was -25.17%, smaller than the maximum MACGX drawdown of -77.61%. Use the drawdown chart below to compare losses from any high point for MPFDX and MACGX.
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Drawdown Indicators
| MPFDX | MACGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.17% | -77.61% | +52.44% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -27.55% | +24.49% |
Max Drawdown (3Y)Largest decline over 3 years | -6.46% | -28.55% | +22.09% |
Max Drawdown (5Y)Largest decline over 5 years | -22.81% | -77.61% | +54.80% |
Max Drawdown (10Y)Largest decline over 10 years | -25.17% | -77.61% | +52.44% |
Current DrawdownCurrent decline from peak | -2.23% | -42.36% | +40.13% |
Average DrawdownAverage peak-to-trough decline | -3.13% | -25.70% | +22.57% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 13.42% | -12.44% |
Volatility
MPFDX vs. MACGX - Volatility Comparison
The current volatility for Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio (MPFDX) is 1.30%, while Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A (MACGX) has a volatility of 9.42%. This indicates that MPFDX experiences smaller price fluctuations and is considered to be less risky than MACGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MPFDX | MACGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.30% | 9.42% | -8.12% |
Volatility (6M)Calculated over the trailing 6-month period | 3.13% | 22.02% | -18.89% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.09% | 28.75% | -24.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.46% | 48.41% | -41.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.17% | 39.42% | -33.25% |
MPFDX vs. MACGX - Expense Ratio Comparison
MPFDX has a 0.70% expense ratio, which is lower than MACGX's 1.00% expense ratio.
Dividends
MPFDX vs. MACGX - Dividend Comparison
MPFDX's dividend yield for the trailing twelve months is around 4.59%, while MACGX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MACGX Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 52.53% | 9.95% | 15.34% | 29.46% | 48.48% | 75.72% | 14.05% |
MPFDX Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio | 4.59% | 4.58% | 5.40% | 4.41% | 3.17% | 4.74% | 5.79% | 2.98% | 3.04% | 2.92% | 3.05% | 3.12% |
Frequently Asked Questions
MPFDX and MACGX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MACGX has higher volatility (9.42%) compared to MPFDX (1.30%). In terms of maximum drawdown, MPFDX dropped -25.17% vs MACGX's -77.61%.
MPFDX currently has the higher Sharpe Ratio (0.99 vs -0.08), 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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