MSEGX vs. FOCPX

Last updated Jun 4, 2026

MSEGX (Morgan Stanley Institutional Growth Portfolio) and FOCPX (Fidelity OTC Portfolio) are both Large Cap Growth Equities funds. Both are actively managed. Over the past 10 years, MSEGX returned 17.13%/yr vs 22.63%/yr for FOCPX. Their correlation of 0.85 suggests significant overlap in exposure. MSEGX charges 0.87%/yr vs 0.73%/yr for FOCPX.

Performance

MSEGX vs. FOCPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Institutional Growth Portfolio (MSEGX) and Fidelity OTC Portfolio (FOCPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSEGX achieves a -1.30% return, which is significantly lower than FOCPX's 27.59% return. Over the past 10 years, MSEGX has underperformed FOCPX with an annualized return of 17.13%, while FOCPX has yielded a comparatively higher 22.63% annualized return.

MSEGX

• 1D: -1.57%
• 1M: 4.07%
• YTD: -1.30%
• 6M: -3.05%
• 1Y: 8.80%
• 3Y*: 28.84%
• 5Y*: 1.56%
• 10Y*: 17.13%

FOCPX

• 1D: 0.78%
• 1M: 10.68%
• YTD: 27.59%
• 6M: 28.74%
• 1Y: 61.90%
• 3Y*: 34.85%
• 5Y*: 19.55%
• 10Y*: 22.63%

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

MSEGX vs. FOCPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MSEGX Morgan Stanley Institutional Growth Portfolio	-1.30%	24.43%	46.29%	49.87%	-60.27%	-0.31%	115.11%	38.93%	5.01%	43.53%
FOCPX Fidelity OTC Portfolio	27.59%	22.21%	38.95%	42.64%	-32.08%	24.94%	46.75%	39.20%	-3.30%	38.61%

Correlation

The correlation between MSEGX and FOCPX is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.61
Correlation (3Y) Calculated over the trailing 3-year period	0.69
Correlation (5Y) Calculated over the trailing 5-year period	0.75
Correlation (10Y) Calculated over the trailing 10-year period	0.78
Correlation (All Time) Calculated using the full available price history since Jan 2, 1996	0.85

Over the past year, the correlation between MSEGX and FOCPX has dropped to 0.61 - well below their long-term average of 0.85, suggesting their price drivers have been diverging.

Return for Risk

MSEGX vs. FOCPX — Risk / Return Rank

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

MSEGX

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

FOCPX

FOCPX Risk / Return Rank: 93
FOCPX Sharpe Ratio Rank: 96
FOCPX Sortino Ratio Rank: 90
FOCPX Omega Ratio Rank: 87
FOCPX Calmar Ratio Rank: 94
FOCPX Martin Ratio Rank: 96

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.

MSEGX vs. FOCPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Growth Portfolio (MSEGX) and Fidelity OTC Portfolio (FOCPX). 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.

	MSEGX	FOCPX	Difference
Sharpe ratio: Return per unit of total volatility	0.34	3.55	-3.21
Sortino ratio: Return per unit of downside risk	0.66	4.40	-3.74
Omega ratio: Gain probability vs. loss probability	1.08	1.59	-0.51
Calmar ratio: Return relative to maximum drawdown	0.34	5.57	-5.23
Martin ratio: Return relative to average drawdown	0.73	24.59	-23.86
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSEGX vs. FOCPX - Sharpe Ratio Comparison

The current MSEGX Sharpe Ratio is 0.34, which is lower than the FOCPX Sharpe Ratio of 3.55. The chart below compares the historical Sharpe Ratios of MSEGX and FOCPX, 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

	MSEGX	FOCPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.34	3.55	-3.21
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.04	0.87	-0.83
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.51	1.01	-0.50
Sharpe Ratio (All Time) Calculated using the full available price history	0.42	0.66	-0.24

Drawdowns

MSEGX vs. FOCPX - Drawdown Comparison

The maximum MSEGX drawdown since its inception was -69.57%, roughly equal to the maximum FOCPX drawdown of -70.25%. Use the drawdown chart below to compare losses from any high point for MSEGX and FOCPX.

Drawdown Indicators

	MSEGX	FOCPX	Difference
Max Drawdown Largest peak-to-trough decline	-69.57%	-70.25%	+0.68%
Max Drawdown (1Y) Largest decline over 1 year	-27.83%	-11.29%	-16.54%
Max Drawdown (3Y) Largest decline over 3 years	-32.54%	-24.82%	-7.72%
Max Drawdown (5Y) Largest decline over 5 years	-69.57%	-37.05%	-32.52%
Max Drawdown (10Y) Largest decline over 10 years	-69.57%	-37.05%	-32.52%
Current Drawdown Current decline from peak	-14.69%	0.00%	-14.69%
Average Drawdown Average peak-to-trough decline	-19.50%	-17.01%	-2.49%
Ulcer Index Depth and duration of drawdowns from previous peaks	12.89%	2.55%	+10.34%

Volatility

MSEGX vs. FOCPX - Volatility Comparison

Morgan Stanley Institutional Growth Portfolio (MSEGX) has a higher volatility of 8.13% compared to Fidelity OTC Portfolio (FOCPX) at 5.41%. This indicates that MSEGX's price experiences larger fluctuations and is considered to be riskier than FOCPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSEGX	FOCPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.13%	5.41%	+2.72%
Volatility (6M) Calculated over the trailing 6-month period	21.31%	13.89%	+7.42%
Volatility (1Y) Calculated over the trailing 1-year period	27.99%	17.71%	+10.28%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	39.72%	22.66%	+17.06%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	33.79%	22.44%	+11.35%

MSEGX vs. FOCPX - Expense Ratio Comparison

MSEGX has a 0.87% expense ratio, which is higher than FOCPX's 0.73% expense ratio.

Dividends

MSEGX vs. FOCPX - Dividend Comparison

MSEGX has not paid dividends to shareholders, while FOCPX's dividend yield for the trailing twelve months is around 6.09%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FOCPX Fidelity OTC Portfolio	6.09%	7.78%	16.76%	0.05%	4.06%	11.53%	6.23%	7.58%	7.93%	4.86%	3.24%	5.41%
MSEGX Morgan Stanley Institutional Growth Portfolio	0.00%	0.00%	0.42%	0.00%	18.70%	26.52%	10.03%	22.75%	5.67%	22.18%	13.17%	7.76%

Frequently Asked Questions

Can I hold both MSEGX and FOCPX in my portfolio?

MSEGX and FOCPX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSEGX or FOCPX?

MSEGX has higher volatility (8.13%) compared to FOCPX (5.41%). In terms of maximum drawdown, MSEGX dropped -69.57% vs FOCPX's -70.25%.

Which has better risk-adjusted returns?

FOCPX currently has the higher Sharpe Ratio (3.55 vs 0.34), 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.