MRJAX vs. VMVFX

Last updated Jun 6, 2026

MRJAX (Morgan Stanley Multi-Asset Real Return Portfolio A) and VMVFX (Vanguard Global Minimum Volatility Fund Investor Shares) are both Global Equities funds. A 0.52 correlation means they provide meaningful diversification when combined. MRJAX charges 1.10%/yr vs 0.21%/yr for VMVFX.

Performance

MRJAX vs. VMVFX - 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 Vanguard Global Minimum Volatility Fund Investor Shares (VMVFX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MRJAX

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

VMVFX

• 1D: 0.23%
• 1M: 1.85%
• YTD: 8.24%
• 6M: 8.88%
• 1Y: 13.35%
• 3Y*: 13.62%
• 5Y*: 10.62%
• 10Y*: 9.45%

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

MRJAX vs. VMVFX - 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%
VMVFX Vanguard Global Minimum Volatility Fund Investor Shares	8.24%	12.74%	13.38%	7.82%	-4.48%	23.74%	-3.99%	23.28%	-5.15%

Correlation

The correlation between MRJAX and VMVFX is -0.05, 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	-0.05
Correlation (3Y) Calculated over the trailing 3-year period	0.27
Correlation (5Y) Calculated over the trailing 5-year period	0.30
Correlation (All Time) Calculated using the full available price history since Jun 19, 2018	0.52

The correlation between MRJAX and VMVFX shifts across timeframes, from -0.05 (1 year) to 0.52 (all time), reflecting how their relationship changes across market environments.

Return for Risk

MRJAX vs. VMVFX — Risk / Return Rank

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

VMVFX

VMVFX Risk / Return Rank: 44
VMVFX Sharpe Ratio Rank: 49
VMVFX Sortino Ratio Rank: 48
VMVFX Omega Ratio Rank: 46
VMVFX Calmar Ratio Rank: 35
VMVFX Martin Ratio Rank: 40

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. VMVFX - 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 Vanguard Global Minimum Volatility Fund Investor Shares (VMVFX). 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	VMVFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.98	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.99	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.76	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.82	—

Drawdowns

Drawdown Indicators

	MRJAX	VMVFX	Difference
Max Drawdown Largest peak-to-trough decline	—	-33.09%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-6.27%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-7.96%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-13.02%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-33.09%	—
Current Drawdown Current decline from peak	—	-0.35%	—
Average Drawdown Average peak-to-trough decline	—	-2.83%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	1.60%	—

Volatility

Volatility by Period

	MRJAX	VMVFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.93%	—
Volatility (6M) Calculated over the trailing 6-month period	—	5.11%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	6.82%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	10.76%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	12.47%	—

MRJAX vs. VMVFX - Expense Ratio Comparison

MRJAX has a 1.10% expense ratio, which is higher than VMVFX's 0.21% expense ratio.

Dividends

MRJAX vs. VMVFX - Dividend Comparison

MRJAX has not paid dividends to shareholders, while VMVFX's dividend yield for the trailing twelve months is around 9.22%.

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%
VMVFX Vanguard Global Minimum Volatility Fund Investor Shares	9.22%	9.98%	3.77%	3.05%	4.96%	12.73%	2.02%	5.12%	7.27%	2.30%	2.71%	3.22%

Frequently Asked Questions

Can I hold both MRJAX and VMVFX in my portfolio?

MRJAX and VMVFX have a correlation of -0.05, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.