MSSMX vs. HRSMX
MSSMX (Morgan Stanley Institutional Inception Fund Class A) and HRSMX (Hood River Small-Cap Growth Fund) are both Small Cap Growth Equities funds. Over the past 10 years, MSSMX returned 15.01%/yr vs 18.21%/yr for HRSMX. Their correlation of 0.85 means they have usually moved in the same direction. MSSMX charges 1.35%/yr vs 1.09%/yr for HRSMX.
Performance
MSSMX vs. HRSMX - 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 HRSMX's 20.60% return. Over the past 10 years, MSSMX has underperformed HRSMX with an annualized return of 15.01%, while HRSMX has yielded a comparatively higher 18.21% 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%
HRSMX
- 1D
- 3.85%
- 1M
- -8.62%
- 6M
- 11.76%
- YTD
- 20.60%
- 1Y
- 48.75%
- 3Y*
- 27.17%
- 5Y*
- 13.43%
- 10Y*
- 18.21%
- ALL TIME*
- 13.40%
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. HRSMX - 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% |
HRSMX Hood River Small-Cap Growth Fund | 20.60% | 23.85% | 35.48% | 21.52% | -27.99% | 23.19% | 60.80% | 24.13% | -6.91% | 20.60% |
Correlation
The correlation between MSSMX and HRSMX is 0.76, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.76 |
Correlation (3Y) Balances recent behavior with more history. | 0.77 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.80 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.79 |
Correlation (All Time) Calculated using the full available price history since Jan 6, 2003 | 0.85 |
The correlation between MSSMX and HRSMX has been stable across timeframes, ranging from 0.76 to 0.85 - a consistent structural relationship.
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Return for Risk
MSSMX vs. HRSMX — Risk / Return Rank
MSSMX
HRSMX
MSSMX vs. HRSMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Inception Fund Class A (MSSMX) and Hood River Small-Cap Growth Fund (HRSMX). 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 | HRSMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.71 | ||
| Sortino ratioReturn per unit of downside risk | -2.12 | ||
| Omega ratioGain probability vs. loss probability | 1.01 | 1.27 | -0.26 |
| Calmar ratioReturn relative to maximum drawdown | -0.10 | 2.93 | -3.03 |
| Martin ratioReturn relative to average drawdown | -0.20 | 11.73 | -11.93 |
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Drawdowns
MSSMX vs. HRSMX - Drawdown Comparison
The maximum MSSMX drawdown since its inception was -76.24%, which is greater than HRSMX's maximum drawdown of -64.92%. Use the drawdown chart below to compare losses from any high point for MSSMX and HRSMX.
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Drawdown Indicators
| MSSMX | HRSMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.24% | -64.92% | -11.32% |
Max Drawdown (1Y)Largest decline over 1 year | -32.92% | -15.78% | -17.14% |
Max Drawdown (3Y)Largest decline over 3 years | -32.92% | -33.04% | +0.12% |
Max Drawdown (5Y)Largest decline over 5 years | -71.12% | -38.49% | -32.63% |
Max Drawdown (10Y)Largest decline over 10 years | -76.24% | -40.74% | -35.50% |
Current DrawdownCurrent decline from peak | -48.60% | -12.54% | -36.06% |
Average DrawdownAverage peak-to-trough decline | -24.72% | -13.02% | -11.70% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 16.49% | 3.93% | +12.56% |
Volatility
MSSMX vs. HRSMX - Volatility Comparison
The current volatility for Morgan Stanley Institutional Inception Fund Class A (MSSMX) is 8.53%, while Hood River Small-Cap Growth Fund (HRSMX) has a volatility of 9.10%. This indicates that MSSMX experiences smaller price fluctuations and is considered to be less risky than HRSMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSSMX | HRSMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.53% | 9.10% | -0.57% |
Volatility (6M)Calculated over the trailing 6-month period | 23.96% | 23.37% | +0.59% |
Volatility (1Y)Calculated over the trailing 1-year period | 31.29% | 28.85% | +2.44% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 38.12% | 27.67% | +10.45% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.42% | 26.15% | +8.27% |
MSSMX vs. HRSMX - Expense Ratio Comparison
MSSMX has a 1.35% expense ratio, which is higher than HRSMX's 1.09% expense ratio.
Dividends
MSSMX vs. HRSMX - Dividend Comparison
MSSMX has not paid dividends to shareholders, while HRSMX's dividend yield for the trailing twelve months is around 3.51%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
HRSMX Hood River Small-Cap Growth Fund | 3.51% | 4.23% | 3.75% | 0.00% | 0.00% | 19.96% | 6.28% | 0.00% | 4.59% | 6.74% | 0.00% | 5.73% |
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 HRSMX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
HRSMX has higher volatility (9.10%) compared to MSSMX (8.53%). In terms of maximum drawdown, MSSMX dropped -76.24% vs HRSMX's -64.92%.
HRSMX currently has the higher Sharpe Ratio (1.60 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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