MRJAX vs. PGVFX

Last updated Jun 6, 2026

MRJAX (Morgan Stanley Multi-Asset Real Return Portfolio A) and PGVFX (Polaris Global Value Fund) are both Global Equities funds. A 0.55 correlation means they provide meaningful diversification when combined. MRJAX charges 1.10%/yr vs 0.99%/yr for PGVFX.

Performance

MRJAX vs. PGVFX - 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 Polaris Global Value Fund (PGVFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MRJAX

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

PGVFX

• 1D: 0.00%
• 1M: 1.74%
• YTD: 19.53%
• 6M: 22.35%
• 1Y: 38.05%
• 3Y*: 21.69%
• 5Y*: 9.45%
• 10Y*: 10.83%

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

MRJAX vs. PGVFX - 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%
PGVFX Polaris Global Value Fund	19.53%	27.01%	5.33%	14.76%	-12.00%	15.38%	6.65%	22.83%	-12.96%

Correlation

The correlation between MRJAX and PGVFX is -0.03, 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	-0.03
Correlation (3Y) Calculated over the trailing 3-year period	0.34
Correlation (5Y) Calculated over the trailing 5-year period	0.38
Correlation (All Time) Calculated using the full available price history since Jun 19, 2018	0.55

The correlation between MRJAX and PGVFX shifts across timeframes, from -0.03 (1 year) to 0.55 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MRJAX vs. PGVFX — Risk / Return Rank

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

PGVFX

PGVFX Risk / Return Rank: 90
PGVFX Sharpe Ratio Rank: 95
PGVFX Sortino Ratio Rank: 92
PGVFX Omega Ratio Rank: 88
PGVFX Calmar Ratio Rank: 89
PGVFX Martin Ratio Rank: 86

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. PGVFX - 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 Polaris Global Value Fund (PGVFX). 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	PGVFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.27	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.69	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.68	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.49	—

Drawdowns

Drawdown Indicators

	MRJAX	PGVFX	Difference
Max Drawdown Largest peak-to-trough decline	—	-68.09%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-8.76%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-12.53%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-27.58%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-41.26%	—
Current Drawdown Current decline from peak	—	-0.09%	—
Average Drawdown Average peak-to-trough decline	—	-11.30%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.42%	—

Volatility

Volatility by Period

	MRJAX	PGVFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.09%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.55%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	11.76%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	13.80%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	15.86%	—

MRJAX vs. PGVFX - Expense Ratio Comparison

MRJAX has a 1.10% expense ratio, which is higher than PGVFX's 0.99% expense ratio.

Dividends

MRJAX vs. PGVFX - Dividend Comparison

MRJAX has not paid dividends to shareholders, while PGVFX's dividend yield for the trailing twelve months is around 4.33%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
PGVFX Polaris Global Value Fund	4.33%	5.17%	5.65%	1.68%	3.55%	4.05%	1.55%	3.69%	3.39%	1.50%	1.32%	1.26%

Frequently Asked Questions

Can I hold both MRJAX and PGVFX in my portfolio?

MRJAX and PGVFX have a correlation of -0.03, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.