MPMCX vs. MMGPX

Last updated Jun 26, 2026

MPMCX (BNY Mellon Mid Cap Multi-Strategy Fund) and MMGPX (Morgan Stanley Discovery Portfolio) are both Mid Cap Growth Equities funds. A 0.71 correlation means they provide meaningful diversification when combined. MPMCX charges 0.90%/yr vs 0.04%/yr for MMGPX.

Performance

MPMCX vs. MMGPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in BNY Mellon Mid Cap Multi-Strategy Fund (MPMCX) and Morgan Stanley Discovery Portfolio (MMGPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MPMCX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

MMGPX

• 1D: 0.00%
• 1M: -4.43%
• YTD: -2.47%
• 6M: -6.19%
• 1Y: -6.93%
• 3Y*: 21.96%
• 5Y*: -7.52%
• 10Y*: —

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

MPMCX vs. MMGPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MPMCX BNY Mellon Mid Cap Multi-Strategy Fund	5.08%	3.40%	49.81%	18.30%	-18.35%	19.07%	22.87%	30.77%	-9.17%	15.29%
MMGPX Morgan Stanley Discovery Portfolio	-2.47%	12.58%	41.83%	44.34%	-63.37%	-11.55%	152.67%	40.20%	10.89%	28.18%

Correlation

The correlation between MPMCX and MMGPX is 0.59, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.59
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017	0.71

The correlation between MPMCX and MMGPX shifts across timeframes, from 0.59 (1 year) to 0.75 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MPMCX vs. MMGPX — Risk / Return Rank

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

MPMCX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

MMGPX

MMGPX Risk / Return Rank: 2
MMGPX Sharpe Ratio Rank: 2
MMGPX Sortino Ratio Rank: 2
MMGPX Omega Ratio Rank: 2
MMGPX Calmar Ratio Rank: 2
MMGPX Martin Ratio Rank: 2

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.

MPMCX vs. MMGPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for BNY Mellon Mid Cap Multi-Strategy Fund (MPMCX) and Morgan Stanley Discovery Portfolio (MMGPX). 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.

	MPMCX	MMGPX	Difference
Sharpe ratio: Return per unit of total volatility	—	-0.29	—
Sortino ratio: Return per unit of downside risk	—	-0.22	—
Omega ratio: Gain probability vs. loss probability	—	0.97	—
Calmar ratio: Return relative to maximum drawdown	—	-0.30	—
Martin ratio: Return relative to average drawdown	—	-0.60	—

Drawdowns

Drawdown Indicators

	MPMCX	MMGPX	Difference
Max Drawdown Largest peak-to-trough decline	—	-75.38%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-27.79%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-29.27%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-72.70%	—
Current Drawdown Current decline from peak	—	-41.72%	—
Average Drawdown Average peak-to-trough decline	—	-30.30%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	13.70%	—

Volatility

Volatility by Period

	MPMCX	MMGPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	9.69%	—
Volatility (6M) Calculated over the trailing 6-month period	—	21.69%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	28.52%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	39.82%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	35.21%	—

MPMCX vs. MMGPX - Expense Ratio Comparison

MPMCX has a 0.90% expense ratio, which is higher than MMGPX's 0.04% expense ratio.

Dividends

MPMCX vs. MMGPX - Dividend Comparison

MPMCX's dividend yield for the trailing twelve months is around 531.29%, more than MMGPX's 0.44% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MMGPX Morgan Stanley Discovery Portfolio	0.44%	0.43%	0.00%	0.00%	125.40%	64.53%	7.93%	15.63%	28.02%	0.00%	0.00%	0.00%
MPMCX BNY Mellon Mid Cap Multi-Strategy Fund	531.29%	558.31%	53.86%	15.92%	13.31%	13.10%	7.73%	3.36%	8.53%	4.69%	1.71%	4.78%

Frequently Asked Questions

Can I hold both MPMCX and MMGPX in my portfolio?

MPMCX and MMGPX have a correlation of 0.59, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.