MSCOX vs. FECGX
MSCOX (Morgan Stanley Institutional Fund Inception Portfolio Class C) and FECGX (Fidelity Small Cap Growth Index Fund) are both Small Cap Growth Equities funds. Over the past 5 years, MSCOX returned -10.32%/yr vs 5.21%/yr for FECGX. Their correlation of 0.82 means they have usually moved in the same direction. MSCOX charges 2.10%/yr vs 0.05%/yr for FECGX.
Performance
MSCOX vs. FECGX - Performance Comparison
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Returns By Period
MSCOX
- 1D
- -4.29%
- 1M
- -4.38%
- 6M
- -1.94%
- YTD
- 0.00%
- 1Y
- -8.13%
- 3Y*
- 9.57%
- 5Y*
- -10.32%
- 10Y*
- —
- ALL TIME*
- 10.83%
FECGX
- 1D
- -1.02%
- 1M
- -4.76%
- 6M
- 7.38%
- YTD
- 14.86%
- 1Y
- 26.64%
- 3Y*
- 14.92%
- 5Y*
- 5.21%
- 10Y*
- —
- ALL TIME*
- 9.94%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MSCOX vs. FECGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
MSCOX Morgan Stanley Institutional Fund Inception Portfolio Class C | -0.00% | 0.00% | 28.07% | 52.94% | -59.90% | -5.01% | 147.58% | -5.91% |
FECGX Fidelity Small Cap Growth Index Fund | 14.86% | 13.04% | 15.26% | 18.90% | -26.17% | 2.83% | 34.41% | 7.11% |
Correlation
The correlation between MSCOX and FECGX is 0.78, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.78 |
Correlation (3Y) Balances recent behavior with more history. | 0.82 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.84 |
Correlation (All Time) Calculated using the full available price history since Jul 17, 2019 | 0.82 |
The correlation between MSCOX and FECGX has been stable across timeframes, ranging from 0.78 to 0.84 - a consistent structural relationship.
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Return for Risk
MSCOX vs. FECGX — Risk / Return Rank
MSCOX
FECGX
MSCOX vs. FECGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Fund Inception Portfolio Class C (MSCOX) and Fidelity Small Cap Growth Index Fund (FECGX). 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.
| MSCOX | FECGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.50 | ||
| Sortino ratioReturn per unit of downside risk | -1.98 | ||
| Omega ratioGain probability vs. loss probability | 0.98 | 1.21 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | -0.25 | 1.86 | -2.10 |
| Martin ratioReturn relative to average drawdown | -0.49 | 6.51 | -7.00 |
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Drawdowns
MSCOX vs. FECGX - Drawdown Comparison
The maximum MSCOX drawdown since its inception was -76.57%, which is greater than FECGX's maximum drawdown of -41.85%. Use the drawdown chart below to compare losses from any high point for MSCOX and FECGX.
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Drawdown Indicators
| MSCOX | FECGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.57% | -41.85% | -34.72% |
Max Drawdown (1Y)Largest decline over 1 year | -33.16% | -14.81% | -18.35% |
Max Drawdown (3Y)Largest decline over 3 years | -33.16% | -28.45% | -4.71% |
Max Drawdown (5Y)Largest decline over 5 years | -71.56% | -40.34% | -31.22% |
Current DrawdownCurrent decline from peak | -51.97% | -6.04% | -45.93% |
Average DrawdownAverage peak-to-trough decline | -34.65% | -15.48% | -19.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.54% | 4.21% | +12.33% |
Volatility
MSCOX vs. FECGX - Volatility Comparison
Morgan Stanley Institutional Fund Inception Portfolio Class C (MSCOX) has a higher volatility of 8.05% compared to Fidelity Small Cap Growth Index Fund (FECGX) at 4.71%. This indicates that MSCOX's price experiences larger fluctuations and is considered to be riskier than FECGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSCOX | FECGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.05% | 4.71% | +3.34% |
Volatility (6M)Calculated over the trailing 6-month period | 23.78% | 16.95% | +6.83% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.05% | 22.20% | +8.85% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.14% | 24.65% | +13.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.46% | 27.10% | +7.36% |
MSCOX vs. FECGX - Expense Ratio Comparison
MSCOX has a 2.10% expense ratio, which is higher than FECGX's 0.05% expense ratio.
Dividends
MSCOX vs. FECGX - Dividend Comparison
MSCOX has not paid dividends to shareholders, while FECGX's dividend yield for the trailing twelve months is around 0.47%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
FECGX Fidelity Small Cap Growth Index Fund | 0.47% | 0.54% | 1.25% | 0.81% | 0.80% | 3.43% | 1.00% | 0.29% | 0.00% | 0.00% |
MSCOX Morgan Stanley Institutional Fund Inception Portfolio Class C | 0.00% | 0.00% | 0.61% | 0.00% | 0.15% | 38.66% | 13.71% | 23.55% | 18.35% | 57.78% |
Frequently Asked Questions
MSCOX and FECGX have a correlation of 0.78, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSCOX has higher volatility (8.05%) compared to FECGX (4.71%). In terms of maximum drawdown, MSCOX dropped -76.57% vs FECGX's -41.85%.
FECGX currently has the higher Sharpe Ratio (1.24 vs -0.26), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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