MSFAX vs. PRWAX
MSFAX (Morgan Stanley Institutional Fund, Inc. Global Franchise Portfolio) and PRWAX (T. Rowe Price All-Cap Opportunities Fund) are both mutual funds - MSFAX is a Global Equities fund managed by T. Rowe Price, while PRWAX is a Large Cap Growth Equities fund managed by T. Rowe Price. Over the past 10 years, MSFAX returned 6.50%/yr vs 17.43%/yr for PRWAX. A 0.70 correlation means they provide meaningful diversification when combined. MSFAX charges 0.92%/yr vs 0.76%/yr for PRWAX.
Performance
MSFAX vs. PRWAX - Performance Comparison
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Returns By Period
In the year-to-date period, MSFAX achieves a -9.27% return, which is significantly lower than PRWAX's 1.11% return. Over the past 10 years, MSFAX has underperformed PRWAX with an annualized return of 6.50%, while PRWAX has yielded a comparatively higher 17.43% annualized return.
MSFAX
- 1D
- -1.14%
- 1M
- -1.97%
- YTD
- -9.27%
- 6M
- -19.53%
- 1Y
- -25.03%
- 3Y*
- -2.08%
- 5Y*
- -0.70%
- 10Y*
- 6.50%
PRWAX
- 1D
- 0.18%
- 1M
- 3.86%
- YTD
- 1.11%
- 6M
- 0.69%
- 1Y
- 14.72%
- 3Y*
- 18.74%
- 5Y*
- 10.46%
- 10Y*
- 17.43%
MSFAX vs. PRWAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSFAX Morgan Stanley Institutional Fund, Inc. Global Franchise Portfolio | -9.27% | -11.65% | 8.94% | 16.41% | -17.26% | 21.89% | 13.24% | 34.63% | -1.66% | 24.68% |
PRWAX T. Rowe Price All-Cap Opportunities Fund | 1.11% | 16.37% | 25.24% | 29.02% | -21.37% | 20.63% | 44.73% | 35.08% | 1.26% | 34.51% |
Correlation
The correlation between MSFAX and PRWAX is 0.60, 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 | 0.60 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.69 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.77 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.77 |
Correlation (All Time) Calculated using the full available price history since Dec 3, 2001 | 0.70 |
The correlation between MSFAX and PRWAX shifts across timeframes, from 0.60 (1 year) to 0.77 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
MSFAX vs. PRWAX — Risk / Return Rank
MSFAX
PRWAX
MSFAX vs. PRWAX - 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 T. Rowe Price All-Cap Opportunities Fund (PRWAX). 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.
| MSFAX | PRWAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.68 | ||
| Sortino ratioReturn per unit of downside risk | -3.52 | ||
| Omega ratioGain probability vs. loss probability | 0.69 | 1.21 | -0.52 |
| Calmar ratioReturn relative to maximum drawdown | -0.85 | 1.10 | -1.95 |
| Martin ratioReturn relative to average drawdown | -1.57 | 3.85 | -5.42 |
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
| MSFAX | PRWAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -1.51 | 1.17 | -2.68 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.04 | 0.60 | -0.64 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.39 | 0.93 | -0.55 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.61 | 0.60 | +0.01 |
Drawdowns
MSFAX vs. PRWAX - Drawdown Comparison
The maximum MSFAX drawdown since its inception was -43.81%, smaller than the maximum PRWAX drawdown of -55.06%. Use the drawdown chart below to compare losses from any high point for MSFAX and PRWAX.
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Drawdown Indicators
| MSFAX | PRWAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.81% | -55.06% | +11.25% |
Max Drawdown (1Y)Largest decline over 1 year | -30.00% | -14.09% | -15.91% |
Max Drawdown (3Y)Largest decline over 3 years | -33.89% | -19.06% | -14.83% |
Max Drawdown (5Y)Largest decline over 5 years | -33.89% | -29.38% | -4.51% |
Max Drawdown (10Y)Largest decline over 10 years | -33.89% | -30.50% | -3.39% |
Current DrawdownCurrent decline from peak | -29.87% | -0.87% | -29.00% |
Average DrawdownAverage peak-to-trough decline | -5.86% | -9.90% | +4.04% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.13% | 4.00% | +12.13% |
Volatility
MSFAX vs. PRWAX - Volatility Comparison
The current volatility for Morgan Stanley Institutional Fund, Inc. Global Franchise Portfolio (MSFAX) is 2.87%, while T. Rowe Price All-Cap Opportunities Fund (PRWAX) has a volatility of 3.52%. This indicates that MSFAX experiences smaller price fluctuations and is considered to be less risky than PRWAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSFAX | PRWAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.87% | 3.52% | -0.65% |
Volatility (6M)Calculated over the trailing 6-month period | 16.01% | 10.56% | +5.45% |
Volatility (1Y)Calculated over the trailing 1-year period | 16.85% | 13.27% | +3.58% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 16.94% | 17.61% | -0.67% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.92% | 18.72% | -1.80% |
MSFAX vs. PRWAX - Expense Ratio Comparison
MSFAX has a 0.92% expense ratio, which is higher than PRWAX's 0.76% expense ratio.
Dividends
MSFAX vs. PRWAX - Dividend Comparison
MSFAX has not paid dividends to shareholders, while PRWAX's dividend yield for the trailing twelve months is around 8.26%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
PRWAX T. Rowe Price All-Cap Opportunities Fund | 8.26% | 8.35% | 9.22% | 5.10% | 3.11% | 20.51% | 15.44% | 7.01% | 12.58% | 12.30% | 6.19% | 8.84% |
Frequently Asked Questions
MSFAX and PRWAX have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
PRWAX has higher volatility (3.52%) compared to MSFAX (2.87%). In terms of maximum drawdown, MSFAX dropped -43.81% vs PRWAX's -55.06%.
PRWAX currently has the higher Sharpe Ratio (1.17 vs -1.51), 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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