MSSMX vs. MACGX
MSSMX (Morgan Stanley Institutional Inception Fund Class A) and MACGX (Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A) are both mutual funds - MSSMX is a Small Cap Growth Equities fund actively managed by Morgan Stanley, while MACGX is a Mid Cap Growth Equities fund managed by Morgan Stanley. Over the past 10 years, MSSMX returned 16.25%/yr vs 14.33%/yr for MACGX. Their correlation of 0.90 suggests significant overlap in exposure. MSSMX charges 1.35%/yr vs 1.00%/yr for MACGX.
Performance
MSSMX vs. MACGX - Performance Comparison
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Returns By Period
In the year-to-date period, MSSMX achieves a 6.52% return, which is significantly higher than MACGX's 4.28% return. Over the past 10 years, MSSMX has outperformed MACGX with an annualized return of 16.25%, while MACGX has yielded a comparatively lower 14.33% annualized return.
MSSMX
- 1D
- 1.35%
- 1M
- 3.58%
- YTD
- 6.52%
- 6M
- -0.44%
- 1Y
- 8.05%
- 3Y*
- 17.14%
- 5Y*
- -7.96%
- 10Y*
- 16.25%
MACGX
- 1D
- 0.52%
- 1M
- -0.12%
- YTD
- 4.28%
- 6M
- 0.41%
- 1Y
- 3.28%
- 3Y*
- 25.37%
- 5Y*
- -3.88%
- 10Y*
- 14.33%
MSSMX vs. MACGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSSMX Morgan Stanley Institutional Inception Fund Class A | 6.52% | 0.76% | 29.15% | 54.22% | -59.57% | -4.29% | 149.49% | 77.58% | -0.03% | 22.42% |
MACGX Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A | 4.28% | 13.71% | 42.06% | 46.30% | -63.51% | -12.84% | 142.01% | 39.41% | 11.85% | 38.99% |
Correlation
The correlation between MSSMX and MACGX is 0.90, 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 | 0.90 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.90 |
Correlation (All Time) Calculated using the full available price history since Feb 3, 1997 | 0.90 |
The correlation between MSSMX and MACGX has been stable across timeframes, ranging from 0.90 to 0.94 - a consistent structural relationship.
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Return for Risk
MSSMX vs. MACGX — Risk / Return Rank
MSSMX
MACGX
MSSMX vs. MACGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Inception Fund Class A (MSSMX) 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.
| MSSMX | MACGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.12 | ||
| Sortino ratioReturn per unit of downside risk | +0.19 | ||
| Omega ratioGain probability vs. loss probability | 1.06 | 1.04 | +0.02 |
| Calmar ratioReturn relative to maximum drawdown | 0.22 | 0.12 | +0.10 |
| Martin ratioReturn relative to average drawdown | 0.46 | 0.25 | +0.21 |
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
| MSSMX | MACGX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.24 | 0.12 | +0.12 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.21 | -0.08 | -0.13 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.47 | 0.37 | +0.11 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.39 | 0.33 | +0.06 |
Drawdowns
MSSMX vs. MACGX - Drawdown Comparison
The maximum MSSMX drawdown since its inception was -76.24%, roughly equal to the maximum MACGX drawdown of -77.61%. Use the drawdown chart below to compare losses from any high point for MSSMX and MACGX.
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Drawdown Indicators
| MSSMX | MACGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -76.24% | -77.61% | +1.37% |
Max Drawdown (1Y)Largest decline over 1 year | -32.92% | -27.55% | -5.37% |
Max Drawdown (3Y)Largest decline over 3 years | -32.92% | -28.55% | -4.37% |
Max Drawdown (5Y)Largest decline over 5 years | -73.30% | -77.61% | +4.31% |
Max Drawdown (10Y)Largest decline over 10 years | -76.24% | -77.61% | +1.37% |
Current DrawdownCurrent decline from peak | -46.80% | -42.02% | -4.78% |
Average DrawdownAverage peak-to-trough decline | -24.60% | -25.65% | +1.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 15.42% | 12.79% | +2.63% |
Volatility
MSSMX vs. MACGX - Volatility Comparison
Morgan Stanley Institutional Inception Fund Class A (MSSMX) and Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A (MACGX) have volatilities of 9.53% and 9.32%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSSMX | MACGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.53% | 9.32% | +0.21% |
Volatility (6M)Calculated over the trailing 6-month period | 22.52% | 21.23% | +1.29% |
Volatility (1Y)Calculated over the trailing 1-year period | 29.92% | 27.92% | +2.00% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 37.89% | 48.30% | -10.41% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 34.32% | 39.36% | -5.04% |
MSSMX vs. MACGX - Expense Ratio Comparison
MSSMX has a 1.35% expense ratio, which is higher than MACGX's 1.00% expense ratio.
Dividends
MSSMX vs. MACGX - Dividend Comparison
Neither MSSMX nor MACGX has 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% |
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
With a correlation of 0.90, MSSMX and MACGX 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.
MSSMX has higher volatility (9.53%) compared to MACGX (9.32%). In terms of maximum drawdown, MSSMX dropped -76.24% vs MACGX's -77.61%.
MSSMX currently has the higher Sharpe Ratio (0.24 vs 0.12), 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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