MSSMX vs. ETEGX
MSSMX (Morgan Stanley Institutional Inception Fund Class A) and ETEGX (Eaton Vance Small-Cap Fund) are both Small Cap Growth Equities funds. Over the past 10 years, MSSMX returned 15.01%/yr vs 8.73%/yr for ETEGX. Their 0.80 correlation means they have sometimes moved together and sometimes differently. MSSMX charges 1.35%/yr vs 1.21%/yr for ETEGX.
Performance
MSSMX vs. ETEGX - Performance Comparison
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Returns By Period
In the year-to-date period, MSSMX achieves a 2.93% return, which is significantly lower than ETEGX's 8.46% return. Over the past 10 years, MSSMX has outperformed ETEGX with an annualized return of 15.01%, while ETEGX has yielded a comparatively lower 8.73% annualized return.
MSSMX
- 1D
- 2.93%
- 1M
- -4.22%
- 6M
- 7.61%
- YTD
- 2.93%
- 1Y
- -0.27%
- 3Y*
- 9.66%
- 5Y*
- -8.92%
- 10Y*
- 15.01%
- ALL TIME*
- 10.62%
ETEGX
- 1D
- 0.00%
- 1M
- -0.48%
- 6M
- 4.47%
- YTD
- 8.46%
- 1Y
- 8.42%
- 3Y*
- 5.17%
- 5Y*
- 3.23%
- 10Y*
- 8.73%
- ALL TIME*
- 7.39%
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 |
MSSMX vs. ETEGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSSMX Morgan Stanley Institutional Inception Fund Class A | 2.93% | 0.76% | 29.15% | 54.22% | -59.57% | -4.29% | 149.49% | 77.58% | -0.03% | 22.42% |
ETEGX Eaton Vance Small-Cap Fund | 8.46% | -6.20% | 14.65% | 11.28% | -15.52% | 21.45% | 12.73% | 27.57% | -6.00% | 14.87% |
Correlation
The correlation between MSSMX and ETEGX is 0.45, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.45 |
Correlation (3Y) Balances recent behavior with more history. | 0.60 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.67 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.64 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 1996 | 0.80 |
Over the past year, the correlation between MSSMX and ETEGX has dropped to 0.45 - well below their long-term average of 0.80, suggesting their price drivers have been diverging.
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Return for Risk
MSSMX vs. ETEGX — Risk / Return Rank
MSSMX
ETEGX
MSSMX vs. ETEGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Inception Fund Class A (MSSMX) and Eaton Vance Small-Cap Fund (ETEGX). 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.
| MSSMX | ETEGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.41 | ||
| Sortino ratioReturn per unit of downside risk | -0.51 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.06 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | -0.10 | 0.37 | -0.48 |
| Martin ratioReturn relative to average drawdown | -0.20 | 0.84 | -1.04 |
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Drawdowns
MSSMX vs. ETEGX - Drawdown Comparison
The maximum MSSMX drawdown since its inception was -76.24%, which is greater than ETEGX's maximum drawdown of -67.58%. Use the drawdown chart below to compare losses from any high point for MSSMX and ETEGX.
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Drawdown Indicators
| MSSMX | ETEGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.24% | -67.58% | -8.66% |
Max Drawdown (1Y)Largest decline over 1 year | -32.92% | -13.05% | -19.87% |
Max Drawdown (3Y)Largest decline over 3 years | -32.92% | -19.98% | -12.94% |
Max Drawdown (5Y)Largest decline over 5 years | -71.12% | -24.30% | -46.82% |
Max Drawdown (10Y)Largest decline over 10 years | -76.24% | -36.66% | -39.58% |
Current DrawdownCurrent decline from peak | -48.60% | -4.23% | -44.37% |
Average DrawdownAverage peak-to-trough decline | -24.72% | -22.67% | -2.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.49% | 5.84% | +10.65% |
Volatility
MSSMX vs. ETEGX - Volatility Comparison
Morgan Stanley Institutional Inception Fund Class A (MSSMX) has a higher volatility of 8.53% compared to Eaton Vance Small-Cap Fund (ETEGX) at 4.43%. This indicates that MSSMX's price experiences larger fluctuations and is considered to be riskier than ETEGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSSMX | ETEGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.53% | 4.43% | +4.10% |
Volatility (6M)Calculated over the trailing 6-month period | 23.96% | 11.37% | +12.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.29% | 16.36% | +14.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.12% | 18.77% | +19.35% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.42% | 19.82% | +14.60% |
MSSMX vs. ETEGX - Expense Ratio Comparison
MSSMX has a 1.35% expense ratio, which is higher than ETEGX's 1.21% expense ratio.
Dividends
MSSMX vs. ETEGX - Dividend Comparison
MSSMX has not paid dividends to shareholders, while ETEGX's dividend yield for the trailing twelve months is around 7.59%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ETEGX Eaton Vance Small-Cap Fund | 7.59% | 8.23% | 5.13% | 0.68% | 3.22% | 13.87% | 1.06% | 7.19% | 12.29% | 11.02% | 13.88% | 23.25% |
MSSMX Morgan Stanley Institutional Inception Fund Class A | 0.00% | 0.00% | 1.16% | 0.00% | 0.14% | 36.28% | 13.10% | 45.60% | 18.04% | 57.39% | 3.76% | 9.73% |
Frequently Asked Questions
MSSMX and ETEGX have a correlation of 0.45, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSSMX has higher volatility (8.53%) compared to ETEGX (4.43%). In terms of maximum drawdown, MSSMX dropped -76.24% vs ETEGX's -67.58%.
ETEGX currently has the higher Sharpe Ratio (0.30 vs -0.11), 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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