MSCOX vs. MPEGX

Last updated Jun 6, 2026

MSCOX (Morgan Stanley Institutional Fund Inception Portfolio Class C) and MPEGX (Morgan Stanley Institutional Fund Trust Discovery Portfolio) are both mutual funds - MSCOX is a Small Cap Growth Equities fund actively managed by Morgan Stanley, while MPEGX is a Mid Cap Growth Equities fund managed by Morgan Stanley. Over the past 5 years, MSCOX returned -8.70%/yr vs -3.57%/yr for MPEGX. Their correlation of 0.91 suggests significant overlap in exposure. MSCOX charges 2.10%/yr vs 0.72%/yr for MPEGX.

Performance

MSCOX vs. MPEGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Institutional Fund Inception Portfolio Class C (MSCOX) and Morgan Stanley Institutional Fund Trust Discovery Portfolio (MPEGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSCOX achieves a 6.15% return, which is significantly higher than MPEGX's 4.35% return.

MSCOX

• 1D: 1.29%
• 1M: 3.56%
• YTD: 6.15%
• 6M: -0.88%
• 1Y: 7.15%
• 3Y*: 16.16%
• 5Y*: -8.70%
• 10Y*: —

MPEGX

• 1D: 0.51%
• 1M: -0.08%
• YTD: 4.35%
• 6M: 0.55%
• 1Y: 3.55%
• 3Y*: 25.68%
• 5Y*: -3.57%
• 10Y*: 14.68%

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

MSCOX vs. MPEGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MSCOX Morgan Stanley Institutional Fund Inception Portfolio Class C	6.15%	0.00%	28.07%	52.94%	-59.90%	-5.01%	147.58%	35.22%	-0.81%	3.20%
MPEGX Morgan Stanley Institutional Fund Trust Discovery Portfolio	4.35%	14.05%	42.38%	46.66%	-63.39%	-12.37%	142.68%	39.73%	12.19%	8.04%

Correlation

The correlation between MSCOX and MPEGX is 0.90, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.90
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (All Time) Calculated using the full available price history since Jun 6, 2017	0.91

The correlation between MSCOX and MPEGX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.

Return for Risk

MSCOX vs. MPEGX — Risk / Return Rank

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

MSCOX

MSCOX Risk / Return Rank: 4
MSCOX Sharpe Ratio Rank: 4
MSCOX Sortino Ratio Rank: 5
MSCOX Omega Ratio Rank: 5
MSCOX Calmar Ratio Rank: 4
MSCOX Martin Ratio Rank: 4

MPEGX

MPEGX Risk / Return Rank: 4
MPEGX Sharpe Ratio Rank: 4
MPEGX Sortino Ratio Rank: 4
MPEGX Omega Ratio Rank: 4
MPEGX Calmar Ratio Rank: 4
MPEGX Martin Ratio Rank: 3

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.

MSCOX vs. MPEGX - 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 Morgan Stanley Institutional Fund Trust Discovery Portfolio (MPEGX). 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.

	MSCOX	MPEGX	Difference
Sharpe ratio: Return per unit of total volatility	0.21	0.12	+0.08
Sortino ratio: Return per unit of downside risk	0.51	0.37	+0.13
Omega ratio: Gain probability vs. loss probability	1.06	1.04	+0.02
Calmar ratio: Return relative to maximum drawdown	0.19	0.13	+0.06
Martin ratio: Return relative to average drawdown	0.40	0.27	+0.13
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSCOX vs. MPEGX - Sharpe Ratio Comparison

The current MSCOX Sharpe Ratio is 0.21, which is higher than the MPEGX Sharpe Ratio of 0.12. The chart below compares the historical Sharpe Ratios of MSCOX and MPEGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MSCOX	MPEGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.21	0.12	+0.08
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.23	-0.09	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.43	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.34	0.49	-0.15

Drawdowns

MSCOX vs. MPEGX - Drawdown Comparison

The maximum MSCOX drawdown since its inception was -76.57%, roughly equal to the maximum MPEGX drawdown of -75.29%. Use the drawdown chart below to compare losses from any high point for MSCOX and MPEGX.

Drawdown Indicators

	MSCOX	MPEGX	Difference
Max Drawdown Largest peak-to-trough decline	-76.57%	-75.29%	-1.28%
Max Drawdown (1Y) Largest decline over 1 year	-33.16%	-27.46%	-5.70%
Max Drawdown (3Y) Largest decline over 3 years	-33.16%	-28.53%	-4.63%
Max Drawdown (5Y) Largest decline over 5 years	-73.60%	-72.99%	-0.61%
Max Drawdown (10Y) Largest decline over 10 years	—	-75.29%	—
Current Drawdown Current decline from peak	-49.02%	-35.48%	-13.54%
Average Drawdown Average peak-to-trough decline	-34.44%	-21.22%	-13.22%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.60%	12.70%	+2.90%

Volatility

MSCOX vs. MPEGX - Volatility Comparison

Morgan Stanley Institutional Fund Inception Portfolio Class C (MSCOX) and Morgan Stanley Institutional Fund Trust Discovery Portfolio (MPEGX) have volatilities of 9.50% and 9.30%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSCOX	MPEGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.50%	9.30%	+0.20%
Volatility (6M) Calculated over the trailing 6-month period	22.59%	21.23%	+1.36%
Volatility (1Y) Calculated over the trailing 1-year period	29.96%	27.89%	+2.07%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.96%	40.21%	-2.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.52%	34.53%	-0.01%

MSCOX vs. MPEGX - Expense Ratio Comparison

MSCOX has a 2.10% expense ratio, which is higher than MPEGX's 0.72% expense ratio.

Dividends

MSCOX vs. MPEGX - Dividend Comparison

Neither MSCOX nor MPEGX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MPEGX Morgan Stanley Institutional Fund Trust Discovery Portfolio	0.00%	0.00%	0.00%	0.00%	0.00%	35.82%	7.63%	12.05%	23.88%	41.11%	67.79%	13.20%
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%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSCOX and MPEGX in my portfolio?

With a correlation of 0.90, MSCOX and MPEGX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, MSCOX or MPEGX?

MSCOX has higher volatility (9.50%) compared to MPEGX (9.30%). In terms of maximum drawdown, MSCOX dropped -76.57% vs MPEGX's -75.29%.

Which has better risk-adjusted returns?

MSCOX currently has the higher Sharpe Ratio (0.21 vs 0.12), 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.