MSHMX vs. ONERX

Last updated Jul 31, 2026

MSHMX (Morgan Stanley Permanence Portfolio) and ONERX (One Rock Fund) are both Large Cap Growth Equities funds. Their 0.75 correlation means they have sometimes moved together and sometimes differently. MSHMX charges 0.85%/yr vs 1.75%/yr for ONERX.

Performance

MSHMX vs. ONERX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Permanence Portfolio (MSHMX) and One Rock Fund (ONERX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MSHMX

• 1D: -0.59%
• 1M: 0.30%
• 6M: -0.15%
• YTD: 3.38%
• 1Y: 1.39%
• 3Y*: 12.07%
• 5Y*: 7.61%
• 10Y*: —
• ALL TIME*: 15.89%

ONERX

• 1D: —
• 1M: —
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MSHMX Morgan Stanley Permanence Portfolio	$0.00	$0.00	$0.00

MSHMX vs. ONERX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020
MSHMX Morgan Stanley Permanence Portfolio	3.38%	18.36%	13.91%	26.50%	-20.53%	16.75%	55.45%
ONERX One Rock Fund	61.33%	49.37%	21.76%	72.41%	-42.06%	45.70%	92.19%

Correlation

The correlation between MSHMX and ONERX is 0.49, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.49
Correlation (3Y) Balances recent behavior with more history.	0.63
Correlation (5Y) Shows whether the relationship held over a longer period.	0.74
Correlation (All Time) Calculated using the full available price history since Mar 31, 2020	0.75

Over the past year, the correlation between MSHMX and ONERX has dropped to 0.49 - well below their long-term average of 0.75, suggesting their price drivers have been diverging.

Return for Risk

MSHMX vs. ONERX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MSHMX

MSHMX Risk / Return Rank: 6
MSHMX Sharpe Ratio Rank: 6
MSHMX Sortino Ratio Rank: 6
MSHMX Omega Ratio Rank: 6
MSHMX Calmar Ratio Rank: 6
MSHMX Martin Ratio Rank: 6

ONERX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MSHMX vs. ONERX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Permanence Portfolio (MSHMX) and One Rock Fund (ONERX). 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.

	MSHMX	ONERX	Difference
Sharpe ratio: Return per unit of total volatility	0.06	—	—
Sortino ratio: Return per unit of downside risk	0.22	—	—
Omega ratio: Gain probability vs. loss probability	1.03	—	—
Calmar ratio: Return relative to maximum drawdown	0.11	—	—
Martin ratio: Return relative to average drawdown	0.29	—	—

Drawdowns

Drawdown Indicators

	MSHMX	ONERX	Difference
Max Drawdown Largest peak-to-trough decline	-30.20%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-10.64%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-16.85%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-30.20%	—	—
Current Drawdown Current decline from peak	-3.93%	—	—
Average Drawdown Average peak-to-trough decline	-6.76%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	4.12%	—	—

Volatility

Volatility by Period

	MSHMX	ONERX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.39%	—	—
Volatility (6M) Calculated over the trailing 6-month period	14.80%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.59%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	19.97%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	19.92%	—	—

MSHMX vs. ONERX - Expense Ratio Comparison

MSHMX has a 0.85% expense ratio, which is lower than ONERX's 1.75% expense ratio.

Dividends

MSHMX vs. ONERX - Dividend Comparison

MSHMX's dividend yield for the trailing twelve months is around 15.78%, more than ONERX's 14.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020
MSHMX Morgan Stanley Permanence Portfolio	15.78%	16.31%	14.39%	10.11%	2.76%	18.17%	5.88%
ONERX One Rock Fund	14.95%	24.12%	0.00%	0.00%	10.57%	28.88%	18.66%

Frequently Asked Questions

Can I hold both MSHMX and ONERX in my portfolio?

MSHMX and ONERX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.