MRJAX vs. FMIEX

Last updated Jun 6, 2026

MRJAX (Morgan Stanley Multi-Asset Real Return Portfolio A) and FMIEX (Wasatch Global Value Fund Investor Class Shares) are both Global Equities funds. A 0.57 correlation means they provide meaningful diversification when combined. Both charge a 1.10% expense ratio.

Performance

MRJAX vs. FMIEX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Multi-Asset Real Return Portfolio A (MRJAX) and Wasatch Global Value Fund Investor Class Shares (FMIEX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MRJAX

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

FMIEX

• 1D: -0.08%
• 1M: -1.43%
• YTD: 12.36%
• 6M: 14.41%
• 1Y: 28.53%
• 3Y*: 19.32%
• 5Y*: 11.01%
• 10Y*: 11.33%

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

MRJAX vs. FMIEX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MRJAX Morgan Stanley Multi-Asset Real Return Portfolio A	0.00%	11.79%	-0.55%	5.09%	2.74%	21.57%	0.07%	17.93%	-8.38%
FMIEX Wasatch Global Value Fund Investor Class Shares	12.36%	30.93%	8.66%	5.67%	-0.12%	25.11%	2.04%	17.27%	-5.40%

Correlation

The correlation between MRJAX and FMIEX is -0.01, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.01
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jun 19, 2018	0.57

The correlation between MRJAX and FMIEX shifts across timeframes, from -0.01 (1 year) to 0.57 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MRJAX vs. FMIEX — Risk / Return Rank

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

FMIEX

FMIEX Risk / Return Rank: 88
FMIEX Sharpe Ratio Rank: 93
FMIEX Sortino Ratio Rank: 91
FMIEX Omega Ratio Rank: 82
FMIEX Calmar Ratio Rank: 87
FMIEX Martin Ratio Rank: 89

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.

MRJAX vs. FMIEX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Multi-Asset Real Return Portfolio A (MRJAX) and Wasatch Global Value Fund Investor Class Shares (FMIEX). 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.

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

Sharpe Ratios by Period

	MRJAX	FMIEX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.10	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.87	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.72	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.59	—

Drawdowns

Drawdown Indicators

	MRJAX	FMIEX	Difference
Max Drawdown Largest peak-to-trough decline	—	-49.85%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-7.04%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-9.52%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-18.63%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-39.33%	—
Current Drawdown Current decline from peak	—	-1.97%	—
Average Drawdown Average peak-to-trough decline	—	-6.58%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.74%	—

Volatility

Volatility by Period

	MRJAX	FMIEX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	2.62%	—
Volatility (6M) Calculated over the trailing 6-month period	—	7.22%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	9.32%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	12.73%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	15.72%	—

MRJAX vs. FMIEX - Expense Ratio Comparison

Both MRJAX and FMIEX have an expense ratio of 1.10%.

Dividends

MRJAX vs. FMIEX - Dividend Comparison

MRJAX has not paid dividends to shareholders, while FMIEX's dividend yield for the trailing twelve months is around 5.09%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FMIEX Wasatch Global Value Fund Investor Class Shares	5.09%	5.76%	9.02%	3.27%	8.54%	4.34%	1.74%	3.82%	18.46%	16.45%	5.16%	11.75%
MRJAX Morgan Stanley Multi-Asset Real Return Portfolio A	0.00%	0.00%	11.24%	4.40%	4.04%	15.24%	1.09%	1.40%	1.22%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MRJAX and FMIEX in my portfolio?

MRJAX and FMIEX have a correlation of -0.01, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.