MSFAX vs. TRRJX
MSFAX (Morgan Stanley Institutional Fund, Inc. Global Franchise Portfolio) and TRRJX (T. Rowe Price Retirement 2035 Fund) are both mutual funds - MSFAX is a Global Equities fund managed by T. Rowe Price, while TRRJX is a Target Retirement Date fund actively managed by T. Rowe Price. Over the past 10 years, MSFAX returned 6.79%/yr vs 9.52%/yr for TRRJX. Their 0.78 correlation means they have sometimes moved together and sometimes differently. MSFAX charges 0.92%/yr vs 0.58%/yr for TRRJX.
Performance
MSFAX vs. TRRJX - 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 TRRJX's 8.73% return. Over the past 10 years, MSFAX has underperformed TRRJX with an annualized return of 6.79%, while TRRJX has yielded a comparatively higher 9.52% 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%
TRRJX
- 1D
- 0.24%
- 1M
- 0.00%
- 6M
- 5.35%
- YTD
- 8.73%
- 1Y
- 12.73%
- 3Y*
- 12.01%
- 5Y*
- 6.17%
- 10Y*
- 9.52%
- ALL TIME*
- 7.98%
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. TRRJX - 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% |
TRRJX T. Rowe Price Retirement 2035 Fund | 8.73% | 10.96% | 11.99% | 18.14% | -17.96% | 15.21% | 17.04% | 23.72% | -6.95% | 20.89% |
Correlation
The correlation between MSFAX and TRRJX is 0.50, 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. | 0.50 |
Correlation (3Y) Balances recent behavior with more history. | 0.67 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.76 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.77 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2004 | 0.78 |
Over the past year, the correlation between MSFAX and TRRJX has dropped to 0.50 - well below their long-term average of 0.78, suggesting their price drivers have been diverging.
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Return for Risk
MSFAX vs. TRRJX — Risk / Return Rank
MSFAX
TRRJX
MSFAX vs. TRRJX - 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 Retirement 2035 Fund (TRRJX). 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 | TRRJX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.29 | ||
| Sortino ratioReturn per unit of downside risk | -2.96 | ||
| Omega ratioGain probability vs. loss probability | 0.77 | 1.21 | -0.44 |
| Calmar ratioReturn relative to maximum drawdown | -0.73 | 1.51 | -2.24 |
| Martin ratioReturn relative to average drawdown | -1.15 | 5.69 | -6.84 |
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Drawdowns
MSFAX vs. TRRJX - Drawdown Comparison
The maximum MSFAX drawdown since its inception was -43.81%, smaller than the maximum TRRJX drawdown of -53.57%. Use the drawdown chart below to compare losses from any high point for MSFAX and TRRJX.
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Drawdown Indicators
| MSFAX | TRRJX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -43.81% | -53.57% | +9.76% |
Max Drawdown (1Y)Largest decline over 1 year | -29.20% | -8.06% | -21.14% |
Max Drawdown (3Y)Largest decline over 3 years | -33.89% | -12.52% | -21.37% |
Max Drawdown (5Y)Largest decline over 5 years | -33.89% | -25.85% | -8.04% |
Max Drawdown (10Y)Largest decline over 10 years | -33.89% | -30.14% | -3.75% |
Current DrawdownCurrent decline from peak | -27.22% | -0.74% | -26.48% |
Average DrawdownAverage peak-to-trough decline | -6.02% | -6.61% | +0.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 18.50% | 2.11% | +16.39% |
Volatility
MSFAX vs. TRRJX - Volatility Comparison
Morgan Stanley Institutional Fund, Inc. Global Franchise Portfolio (MSFAX) has a higher volatility of 4.89% compared to T. Rowe Price Retirement 2035 Fund (TRRJX) at 2.75%. This indicates that MSFAX's price experiences larger fluctuations and is considered to be riskier than TRRJX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSFAX | TRRJX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.89% | 2.75% | +2.14% |
Volatility (6M)Calculated over the trailing 6-month period | 10.64% | 8.82% | +1.82% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.75% | 11.21% | +6.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.12% | 12.92% | +4.20% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 16.90% | 13.47% | +3.43% |
MSFAX vs. TRRJX - Expense Ratio Comparison
MSFAX has a 0.92% expense ratio, which is higher than TRRJX's 0.58% expense ratio.
Dividends
MSFAX vs. TRRJX - Dividend Comparison
Neither MSFAX nor TRRJX has paid dividends to shareholders.
| 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% |
TRRJX T. Rowe Price Retirement 2035 Fund | 0.00% | 0.00% | 2.36% | 4.68% | 9.67% | 6.89% | 4.80% | 5.68% | 8.55% | 3.80% | 2.89% | 4.05% |
Frequently Asked Questions
MSFAX and TRRJX have a correlation of 0.50, 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 TRRJX (2.75%). In terms of maximum drawdown, MSFAX dropped -43.81% vs TRRJX's -53.57%.
TRRJX currently has the higher Sharpe Ratio (1.08 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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