MSAQX vs. EWJ
Compare and contrast key facts about Morgan Stanley Institutional Fund, Inc. Asia Opportunity Portfolio (MSAQX) and iShares MSCI Japan ETF (EWJ).
MSAQX is managed by Morgan Stanley. It was launched on Dec 28, 2015. EWJ is a passively managed fund by iShares that tracks the performance of the MSCI Japan Index. It was launched on Mar 12, 1996.
Performance
MSAQX vs. EWJ - Performance Comparison
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MSAQX vs. EWJ - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSAQX Morgan Stanley Institutional Fund, Inc. Asia Opportunity Portfolio | -9.06% | 2.06% | 19.71% | -6.83% | -22.01% | -20.52% | 52.55% | 44.74% | -13.64% | 76.83% |
EWJ iShares MSCI Japan ETF | 7.11% | 25.84% | 7.03% | 20.29% | -17.72% | 1.16% | 15.40% | 19.34% | -14.10% | 24.27% |
Returns By Period
In the year-to-date period, MSAQX achieves a -9.06% return, which is significantly lower than EWJ's 7.11% return. Over the past 10 years, MSAQX has underperformed EWJ with an annualized return of 8.13%, while EWJ has yielded a comparatively higher 9.04% annualized return.
MSAQX
- 1D
- 3.24%
- 1M
- -11.97%
- YTD
- -9.06%
- 6M
- -19.76%
- 1Y
- -9.35%
- 3Y*
- 0.50%
- 5Y*
- -9.16%
- 10Y*
- 8.13%
EWJ
- 1D
- 2.42%
- 1M
- -4.12%
- YTD
- 7.11%
- 6M
- 11.85%
- 1Y
- 32.61%
- 3Y*
- 17.20%
- 5Y*
- 7.13%
- 10Y*
- 9.04%
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MSAQX vs. EWJ - Expense Ratio Comparison
MSAQX has a 1.10% expense ratio, which is higher than EWJ's 0.49% expense ratio.
Return for Risk
MSAQX vs. EWJ — Risk / Return Rank
MSAQX
EWJ
MSAQX vs. EWJ - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Fund, Inc. Asia Opportunity Portfolio (MSAQX) and iShares MSCI Japan ETF (EWJ). 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.
| MSAQX | EWJ | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.44 | 1.49 | -1.93 |
Sortino ratioReturn per unit of downside risk | -0.47 | 2.12 | -2.59 |
Omega ratioGain probability vs. loss probability | 0.94 | 1.29 | -0.36 |
Calmar ratioReturn relative to maximum drawdown | -0.51 | 2.35 | -2.86 |
Martin ratioReturn relative to average drawdown | -1.45 | 8.67 | -10.12 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MSAQX | EWJ | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.44 | 1.49 | -1.93 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.38 | 0.40 | -0.78 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.37 | 0.52 | -0.15 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.37 | 0.10 | +0.26 |
Correlation
The correlation between MSAQX and EWJ is 0.51, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
MSAQX vs. EWJ - Dividend Comparison
MSAQX has not paid dividends to shareholders, while EWJ's dividend yield for the trailing twelve months is around 4.22%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSAQX Morgan Stanley Institutional Fund, Inc. Asia Opportunity Portfolio | 0.00% | 0.00% | 1.82% | 0.26% | 0.00% | 0.88% | 1.06% | 0.05% | 0.69% | 1.12% | 2.24% | 0.00% |
EWJ iShares MSCI Japan ETF | 4.22% | 4.52% | 2.34% | 2.03% | 1.23% | 2.08% | 1.04% | 2.03% | 1.71% | 1.25% | 1.95% | 1.27% |
Drawdowns
MSAQX vs. EWJ - Drawdown Comparison
The maximum MSAQX drawdown since its inception was -61.11%, roughly equal to the maximum EWJ drawdown of -60.93%. Use the drawdown chart below to compare losses from any high point for MSAQX and EWJ.
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Drawdown Indicators
| MSAQX | EWJ | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -61.11% | -60.93% | -0.18% |
Max Drawdown (1Y)Largest decline over 1 year | -23.57% | -13.59% | -9.98% |
Max Drawdown (5Y)Largest decline over 5 years | -54.44% | -33.14% | -21.30% |
Max Drawdown (10Y)Largest decline over 10 years | -61.11% | -33.14% | -27.97% |
Current DrawdownCurrent decline from peak | -47.62% | -7.97% | -39.65% |
Average DrawdownAverage peak-to-trough decline | -24.18% | -21.84% | -2.34% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 8.31% | 3.68% | +4.63% |
Volatility
MSAQX vs. EWJ - Volatility Comparison
Morgan Stanley Institutional Fund, Inc. Asia Opportunity Portfolio (MSAQX) has a higher volatility of 10.85% compared to iShares MSCI Japan ETF (EWJ) at 9.02%. This indicates that MSAQX's price experiences larger fluctuations and is considered to be riskier than EWJ based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSAQX | EWJ | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 10.85% | 9.02% | +1.83% |
Volatility (6M)Calculated over the trailing 6-month period | 15.94% | 15.04% | +0.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.70% | 21.96% | -1.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 24.12% | 18.12% | +6.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 22.07% | 17.32% | +4.75% |