MSIQX vs. FIGSX
MSIQX (Morgan Stanley Institutional Fund, Inc. International Equity Portfolio) and FIGSX (Fidelity Series International Growth Fund) are both Foreign Large Cap Equities funds. Over the past 10 years, MSIQX returned 0.73%/yr vs 10.19%/yr for FIGSX. Their correlation of 0.91 suggests significant overlap in exposure. MSIQX charges 0.95%/yr vs 0.01%/yr for FIGSX.
Performance
MSIQX vs. FIGSX - Performance Comparison
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Returns By Period
The year-to-date returns for both investments are quite close, with MSIQX having a 7.19% return and FIGSX slightly higher at 7.48%. Over the past 10 years, MSIQX has underperformed FIGSX with an annualized return of 0.73%, while FIGSX has yielded a comparatively higher 10.19% annualized return.
MSIQX
- 1D
- 0.56%
- 1M
- 3.62%
- YTD
- 7.19%
- 6M
- -40.83%
- 1Y
- -38.17%
- 3Y*
- -8.75%
- 5Y*
- -6.78%
- 10Y*
- 0.73%
FIGSX
- 1D
- 1.23%
- 1M
- 3.27%
- YTD
- 7.48%
- 6M
- 8.70%
- 1Y
- 15.33%
- 3Y*
- 13.32%
- 5Y*
- 6.48%
- 10Y*
- 10.19%
MSIQX vs. FIGSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSIQX Morgan Stanley Institutional Fund, Inc. International Equity Portfolio | 7.19% | -33.40% | 2.70% | 16.86% | -14.24% | 4.11% | 11.43% | 20.49% | -13.92% | 25.18% |
FIGSX Fidelity Series International Growth Fund | 7.48% | 19.12% | 5.93% | 21.74% | -22.87% | 16.61% | 18.52% | 35.59% | -10.97% | 30.21% |
Correlation
The correlation between MSIQX and FIGSX is 0.91, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.91 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.89 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.91 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Dec 7, 2009 | 0.91 |
The correlation between MSIQX and FIGSX has been stable across timeframes, ranging from 0.89 to 0.91 - a consistent structural relationship.
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Return for Risk
MSIQX vs. FIGSX — Risk / Return Rank
MSIQX
FIGSX
MSIQX vs. FIGSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Fund, Inc. International Equity Portfolio (MSIQX) and Fidelity Series International Growth Fund (FIGSX). 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.
| MSIQX | FIGSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.64 | ||
| Sortino ratioReturn per unit of downside risk | -2.00 | ||
| Omega ratioGain probability vs. loss probability | 0.75 | 1.16 | -0.41 |
| Calmar ratioReturn relative to maximum drawdown | -0.79 | 1.10 | -1.89 |
| Martin ratioReturn relative to average drawdown | -1.28 | 4.07 | -5.35 |
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
| MSIQX | FIGSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.80 | 0.84 | -1.64 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.20 | 0.36 | -0.56 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.03 | 0.57 | -0.55 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.31 | 0.51 | -0.20 |
Drawdowns
MSIQX vs. FIGSX - Drawdown Comparison
The maximum MSIQX drawdown since its inception was -56.18%, which is greater than FIGSX's maximum drawdown of -34.47%. Use the drawdown chart below to compare losses from any high point for MSIQX and FIGSX.
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Drawdown Indicators
| MSIQX | FIGSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.18% | -34.47% | -21.71% |
Max Drawdown (1Y)Largest decline over 1 year | -49.39% | -13.89% | -35.50% |
Max Drawdown (3Y)Largest decline over 3 years | -56.18% | -16.29% | -39.89% |
Max Drawdown (5Y)Largest decline over 5 years | -56.18% | -34.47% | -21.71% |
Max Drawdown (10Y)Largest decline over 10 years | -56.18% | -34.47% | -21.71% |
Current DrawdownCurrent decline from peak | -49.97% | -2.14% | -47.83% |
Average DrawdownAverage peak-to-trough decline | -9.10% | -6.46% | -2.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 30.26% | 3.75% | +26.51% |
Volatility
MSIQX vs. FIGSX - Volatility Comparison
The current volatility for Morgan Stanley Institutional Fund, Inc. International Equity Portfolio (MSIQX) is 4.55%, while Fidelity Series International Growth Fund (FIGSX) has a volatility of 7.37%. This indicates that MSIQX experiences smaller price fluctuations and is considered to be less risky than FIGSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSIQX | FIGSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.55% | 7.37% | -2.82% |
Volatility (6M)Calculated over the trailing 6-month period | 62.65% | 15.91% | +46.74% |
Volatility (1Y)Calculated over the trailing 1-year period | 48.41% | 18.26% | +30.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 33.99% | 18.04% | +15.95% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.76% | 17.81% | +8.95% |
MSIQX vs. FIGSX - Expense Ratio Comparison
MSIQX has a 0.95% expense ratio, which is higher than FIGSX's 0.01% expense ratio.
Dividends
MSIQX vs. FIGSX - Dividend Comparison
MSIQX has not paid dividends to shareholders, while FIGSX's dividend yield for the trailing twelve months is around 8.07%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FIGSX Fidelity Series International Growth Fund | 8.07% | 8.67% | 4.29% | 1.27% | 3.53% | 8.33% | 16.24% | 3.64% | 7.47% | 3.14% | 2.54% | 3.54% |
MSIQX Morgan Stanley Institutional Fund, Inc. International Equity Portfolio | 0.00% | 0.00% | 40.18% | 4.40% | 7.56% | 10.56% | 1.36% | 10.14% | 14.89% | 1.91% | 1.07% | 2.89% |
Frequently Asked Questions
With a correlation of 0.91, MSIQX and FIGSX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
FIGSX has higher volatility (7.37%) compared to MSIQX (4.55%). In terms of maximum drawdown, MSIQX dropped -56.18% vs FIGSX's -34.47%.
FIGSX currently has the higher Sharpe Ratio (0.84 vs -0.80), 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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