MSIQX vs. TRRJX
MSIQX (Morgan Stanley Institutional Fund, Inc. International Equity Portfolio) and TRRJX (T. Rowe Price Retirement 2035 Fund) are both mutual funds - MSIQX is a Foreign Large Cap 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, MSIQX returned 0.73%/yr vs 9.50%/yr for TRRJX. Their correlation of 0.80 suggests significant overlap in exposure. MSIQX charges 0.95%/yr vs 0.58%/yr for TRRJX.
Performance
MSIQX vs. TRRJX - Performance Comparison
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Returns By Period
In the year-to-date period, MSIQX achieves a 5.39% return, which is significantly lower than TRRJX's 8.68% return. Over the past 10 years, MSIQX has underperformed TRRJX with an annualized return of 0.73%, while TRRJX has yielded a comparatively higher 9.50% annualized return.
MSIQX
- 1D
- 0.57%
- 1M
- 0.28%
- 6M
- 2.92%
- YTD
- 5.39%
- 1Y
- -40.59%
- 3Y*
- -10.18%
- 5Y*
- -6.64%
- 10Y*
- 0.73%
- ALL TIME*
- 6.10%
TRRJX
- 1D
- 0.91%
- 1M
- -0.20%
- 6M
- 6.18%
- YTD
- 8.68%
- 1Y
- 11.25%
- 3Y*
- 12.21%
- 5Y*
- 6.23%
- 10Y*
- 9.50%
- ALL TIME*
- 7.99%
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 |
MSIQX vs. TRRJX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSIQX Morgan Stanley Institutional Fund, Inc. International Equity Portfolio | 5.39% | -33.40% | 2.70% | 16.86% | -14.24% | 4.11% | 11.43% | 20.49% | -13.92% | 25.18% |
TRRJX T. Rowe Price Retirement 2035 Fund | 8.68% | 10.96% | 11.99% | 18.14% | -17.96% | 15.21% | 17.04% | 23.72% | -6.95% | 20.89% |
Correlation
The correlation between MSIQX and TRRJX is 0.84, 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 | 0.84 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.80 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.82 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.80 |
Correlation (All Time) Calculated using the full available price history since Mar 1, 2004 | 0.80 |
The correlation between MSIQX and TRRJX has been stable across timeframes, ranging from 0.80 to 0.84 - a consistent structural relationship.
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Return for Risk
MSIQX vs. TRRJX — Risk / Return Rank
MSIQX
TRRJX
MSIQX vs. TRRJX - 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 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.
| MSIQX | TRRJX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.92 | ||
| Sortino ratioReturn per unit of downside risk | -2.26 | ||
| Omega ratioGain probability vs. loss probability | 0.74 | 1.21 | -0.47 |
| Calmar ratioReturn relative to maximum drawdown | -0.82 | 1.49 | -2.31 |
| Martin ratioReturn relative to average drawdown | -1.19 | 5.63 | -6.82 |
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Drawdowns
MSIQX vs. TRRJX - Drawdown Comparison
The maximum MSIQX drawdown since its inception was -56.18%, roughly equal to the maximum TRRJX drawdown of -53.57%. Use the drawdown chart below to compare losses from any high point for MSIQX and TRRJX.
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Drawdown Indicators
| MSIQX | TRRJX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -56.18% | -53.57% | -2.61% |
Max Drawdown (1Y)Largest decline over 1 year | -49.39% | -8.06% | -41.33% |
Max Drawdown (3Y)Largest decline over 3 years | -56.18% | -12.52% | -43.66% |
Max Drawdown (5Y)Largest decline over 5 years | -56.18% | -25.85% | -30.33% |
Max Drawdown (10Y)Largest decline over 10 years | -56.18% | -30.14% | -26.04% |
Current DrawdownCurrent decline from peak | -50.80% | -0.78% | -50.02% |
Average DrawdownAverage peak-to-trough decline | -9.25% | -6.61% | -2.64% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 34.07% | 2.10% | +31.97% |
Volatility
MSIQX vs. TRRJX - Volatility Comparison
Morgan Stanley Institutional Fund, Inc. International Equity Portfolio (MSIQX) has a higher volatility of 4.01% compared to T. Rowe Price Retirement 2035 Fund (TRRJX) at 2.64%. This indicates that MSIQX'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
| MSIQX | TRRJX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.01% | 2.64% | +1.37% |
Volatility (6M)Calculated over the trailing 6-month period | 12.88% | 8.83% | +4.05% |
Volatility (1Y)Calculated over the trailing 1-year period | 48.59% | 11.11% | +37.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 34.05% | 12.91% | +21.14% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 26.57% | 13.47% | +13.10% |
MSIQX vs. TRRJX - Expense Ratio Comparison
MSIQX has a 0.95% expense ratio, which is higher than TRRJX's 0.58% expense ratio.
Dividends
MSIQX vs. TRRJX - Dividend Comparison
Neither MSIQX nor TRRJX has paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
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
MSIQX and TRRJX have a correlation of 0.84, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSIQX has higher volatility (4.01%) compared to TRRJX (2.64%). In terms of maximum drawdown, MSIQX dropped -56.18% vs TRRJX's -53.57%.
TRRJX currently has the higher Sharpe Ratio (1.08 vs -0.84), 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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