MSJIX vs. MACGX

Last updated Jun 4, 2026

MSJIX (Morgan Stanley Global Endurance Portfolio) and MACGX (Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A) are both mutual funds - MSJIX is a Global Equities fund managed by Morgan Stanley, while MACGX is a Mid Cap Growth Equities fund managed by Morgan Stanley. Over the past 5 years, MSJIX returned -8.12%/yr vs -3.23%/yr for MACGX. Their correlation of 0.81 suggests significant overlap in exposure. Both charge a 1.00% expense ratio.

Performance

MSJIX vs. MACGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Global Endurance Portfolio (MSJIX) and Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A (MACGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSJIX achieves a -2.07% return, which is significantly lower than MACGX's 6.63% return.

MSJIX

• 1D: -2.03%
• 1M: 0.00%
• YTD: -2.07%
• 6M: -0.50%
• 1Y: 17.47%
• 3Y*: 15.00%
• 5Y*: -8.12%
• 10Y*: —

MACGX

• 1D: -1.67%
• 1M: 5.93%
• YTD: 6.63%
• 6M: 3.09%
• 1Y: 5.74%
• 3Y*: 26.93%
• 5Y*: -3.23%
• 10Y*: 14.70%

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

MSJIX vs. MACGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
MSJIX Morgan Stanley Global Endurance Portfolio	-2.07%	24.62%	5.99%	72.54%	-66.23%	9.69%	110.10%	34.61%
MACGX Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A	6.63%	13.71%	42.06%	46.30%	-63.51%	-12.84%	142.01%	46.94%

Correlation

The correlation between MSJIX and MACGX 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	0.72
Correlation (5Y) Calculated over the trailing 5-year period	0.82
Correlation (All Time) Calculated using the full available price history since Jan 4, 2019	0.81

Over the past year, the correlation between MSJIX and MACGX has dropped to 0.60 - well below their long-term average of 0.81, suggesting their price drivers have been diverging.

Return for Risk

MSJIX vs. MACGX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MSJIX

MSJIX Risk / Return Rank: 16
MSJIX Sharpe Ratio Rank: 12
MSJIX Sortino Ratio Rank: 14
MSJIX Omega Ratio Rank: 13
MSJIX Calmar Ratio Rank: 21
MSJIX Martin Ratio Rank: 18

MACGX

MACGX Risk / Return Rank: 4
MACGX Sharpe Ratio Rank: 4
MACGX Sortino Ratio Rank: 4
MACGX Omega Ratio Rank: 4
MACGX Calmar Ratio Rank: 4
MACGX Martin Ratio Rank: 3

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MSJIX vs. MACGX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Global Endurance Portfolio (MSJIX) and Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A (MACGX). 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.

	MSJIX	MACGX	Difference
Sharpe ratio: Return per unit of total volatility	0.95	0.25	+0.70
Sortino ratio: Return per unit of downside risk	1.51	0.55	+0.96
Omega ratio: Gain probability vs. loss probability	1.18	1.06	+0.11
Calmar ratio: Return relative to maximum drawdown	1.70	0.26	+1.44
Martin ratio: Return relative to average drawdown	4.97	0.55	+4.42
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSJIX vs. MACGX - Sharpe Ratio Comparison

The current MSJIX Sharpe Ratio is 0.95, which is higher than the MACGX Sharpe Ratio of 0.25. The chart below compares the historical Sharpe Ratios of MSJIX and MACGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MSJIX	MACGX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.95	0.25	+0.70
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.26	-0.07	-0.19
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.37	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.37	0.33	+0.05

Drawdowns

MSJIX vs. MACGX - Drawdown Comparison

The maximum MSJIX drawdown since its inception was -75.26%, roughly equal to the maximum MACGX drawdown of -77.61%. Use the drawdown chart below to compare losses from any high point for MSJIX and MACGX.

Drawdown Indicators

	MSJIX	MACGX	Difference
Max Drawdown Largest peak-to-trough decline	-75.26%	-77.61%	+2.35%
Max Drawdown (1Y) Largest decline over 1 year	-10.91%	-27.55%	+16.64%
Max Drawdown (3Y) Largest decline over 3 years	-25.89%	-28.55%	+2.66%
Max Drawdown (5Y) Largest decline over 5 years	-74.10%	-77.61%	+3.51%
Max Drawdown (10Y) Largest decline over 10 years	—	-77.61%	—
Current Drawdown Current decline from peak	-43.08%	-40.72%	-2.36%
Average Drawdown Average peak-to-trough decline	-36.29%	-25.65%	-10.64%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.72%	12.75%	-9.03%

Volatility

MSJIX vs. MACGX - Volatility Comparison

The current volatility for Morgan Stanley Global Endurance Portfolio (MSJIX) is 7.57%, while Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A (MACGX) has a volatility of 8.96%. This indicates that MSJIX experiences smaller price fluctuations and is considered to be less risky than MACGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSJIX	MACGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.57%	8.96%	-1.39%
Volatility (6M) Calculated over the trailing 6-month period	14.78%	21.23%	-6.45%
Volatility (1Y) Calculated over the trailing 1-year period	19.43%	27.81%	-8.38%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	31.86%	48.30%	-16.44%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	32.63%	39.37%	-6.74%

MSJIX vs. MACGX - Expense Ratio Comparison

Both MSJIX and MACGX have an expense ratio of 1.00%.

Dividends

MSJIX vs. MACGX - Dividend Comparison

MSJIX's dividend yield for the trailing twelve months is around 0.54%, while MACGX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MACGX Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A	0.00%	0.00%	0.00%	0.00%	0.00%	52.53%	9.95%	15.34%	29.46%	48.48%	75.72%	14.05%
MSJIX Morgan Stanley Global Endurance Portfolio	0.54%	0.53%	0.56%	1.83%	0.00%	4.68%	3.17%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MSJIX and MACGX in my portfolio?

MSJIX and MACGX 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.

Which is riskier, MSJIX or MACGX?

MACGX has higher volatility (8.96%) compared to MSJIX (7.57%). In terms of maximum drawdown, MSJIX dropped -75.26% vs MACGX's -77.61%.

Which has better risk-adjusted returns?

MSJIX currently has the higher Sharpe Ratio (0.95 vs 0.25), 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.