MSFAX vs. GLIFX
MSFAX (Morgan Stanley Institutional Fund, Inc. Global Franchise Portfolio) and GLIFX (Lazard Global Listed Infrastructure Portfolio Institutional Shares) are both mutual funds - MSFAX is a Global Equities fund managed by T. Rowe Price, while GLIFX is a Infrastructure Equities fund managed by Lazard. Over the past 10 years, MSFAX returned 6.79%/yr vs 9.98%/yr for GLIFX. Their 0.63 correlation means they have sometimes moved together and sometimes differently. MSFAX charges 0.92%/yr vs 0.97%/yr for GLIFX.
Performance
MSFAX vs. GLIFX - Performance Comparison
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Returns By Period
In the year-to-date period, MSFAX achieves a -5.83% return, which is significantly lower than GLIFX's 7.23% return. Over the past 10 years, MSFAX has underperformed GLIFX with an annualized return of 6.79%, while GLIFX has yielded a comparatively higher 9.98% annualized return.
MSFAX
- 1D
- 0.72%
- 1M
- 2.72%
- 6M
- -3.42%
- YTD
- -5.83%
- 1Y
- -20.48%
- 3Y*
- -2.17%
- 5Y*
- -1.19%
- 10Y*
- 6.79%
- ALL TIME*
- 10.11%
GLIFX
- 1D
- -0.47%
- 1M
- -1.55%
- 6M
- 3.86%
- YTD
- 7.23%
- 1Y
- 14.02%
- 3Y*
- 13.42%
- 5Y*
- 10.73%
- 10Y*
- 9.98%
- ALL TIME*
- 10.83%
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 |
MSFAX vs. GLIFX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSFAX Morgan Stanley Institutional Fund, Inc. Global Franchise Portfolio | -5.83% | -11.65% | 8.94% | 16.41% | -17.26% | 21.89% | 13.24% | 34.63% | -1.66% | 24.68% |
GLIFX Lazard Global Listed Infrastructure Portfolio Institutional Shares | 7.23% | 23.85% | 6.71% | 10.89% | -1.33% | 19.91% | -4.51% | 22.27% | -3.82% | 20.77% |
Correlation
The correlation between MSFAX and GLIFX is 0.28, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.28 |
Correlation (3Y) Balances recent behavior with more history. | 0.41 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.53 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.57 |
Correlation (All Time) Calculated using the full available price history since Jan 4, 2010 | 0.63 |
Over the past year, the correlation between MSFAX and GLIFX has dropped to 0.28 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.
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Return for Risk
MSFAX vs. GLIFX — Risk / Return Rank
MSFAX
GLIFX
MSFAX vs. GLIFX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Fund, Inc. Global Franchise Portfolio (MSFAX) and Lazard Global Listed Infrastructure Portfolio Institutional Shares (GLIFX). 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.
| MSFAX | GLIFX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.48 | ||
| Sortino ratioReturn per unit of downside risk | -3.20 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 1.23 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | 1.54 | -2.28 |
| Martin ratioReturn relative to average drawdown | -1.15 | 4.18 | -5.33 |
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Drawdowns
MSFAX vs. GLIFX - Drawdown Comparison
The maximum MSFAX drawdown since its inception was -43.81%, which is greater than GLIFX's maximum drawdown of -29.65%. Use the drawdown chart below to compare losses from any high point for MSFAX and GLIFX.
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Drawdown Indicators
| MSFAX | GLIFX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.81% | -29.65% | -14.16% |
Max Drawdown (1Y)Largest decline over 1 year | -29.20% | -9.00% | -20.20% |
Max Drawdown (3Y)Largest decline over 3 years | -33.89% | -9.00% | -24.89% |
Max Drawdown (5Y)Largest decline over 5 years | -33.89% | -17.15% | -16.74% |
Max Drawdown (10Y)Largest decline over 10 years | -33.89% | -29.65% | -4.24% |
Current DrawdownCurrent decline from peak | -27.22% | -5.88% | -21.34% |
Average DrawdownAverage peak-to-trough decline | -6.02% | -3.38% | -2.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.50% | 3.31% | +15.19% |
Volatility
MSFAX vs. GLIFX - Volatility Comparison
Morgan Stanley Institutional Fund, Inc. Global Franchise Portfolio (MSFAX) has a higher volatility of 4.89% compared to Lazard Global Listed Infrastructure Portfolio Institutional Shares (GLIFX) at 2.80%. This indicates that MSFAX's price experiences larger fluctuations and is considered to be riskier than GLIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSFAX | GLIFX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.89% | 2.80% | +2.09% |
Volatility (6M)Calculated over the trailing 6-month period | 10.64% | 9.46% | +1.18% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.75% | 10.87% | +6.88% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.12% | 11.00% | +6.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.90% | 13.18% | +3.72% |
MSFAX vs. GLIFX - Expense Ratio Comparison
MSFAX has a 0.92% expense ratio, which is lower than GLIFX's 0.97% expense ratio.
Dividends
MSFAX vs. GLIFX - Dividend Comparison
MSFAX has not paid dividends to shareholders, while GLIFX's dividend yield for the trailing twelve months is around 7.32%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
GLIFX Lazard Global Listed Infrastructure Portfolio Institutional Shares | 7.32% | 6.22% | 4.26% | 2.95% | 14.81% | 6.21% | 2.59% | 4.44% | 14.29% | 6.94% | 1.91% | 11.33% |
MSFAX Morgan Stanley Institutional Fund, Inc. Global Franchise Portfolio | 0.00% | 0.00% | 11.85% | 1.96% | 1.69% | 2.75% | 3.48% | 8.23% | 5.76% | 3.72% | 3.11% | 4.75% |
Frequently Asked Questions
MSFAX and GLIFX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSFAX has higher volatility (4.89%) compared to GLIFX (2.80%). In terms of maximum drawdown, MSFAX dropped -43.81% vs GLIFX's -29.65%.
GLIFX currently has the higher Sharpe Ratio (1.28 vs -1.21), 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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