MSSMX vs. MSEGX

Last updated Jun 23, 2026

MSSMX (Morgan Stanley Institutional Inception Fund Class A) and MSEGX (Morgan Stanley Institutional Growth Portfolio) are both mutual funds - MSSMX is a Small Cap Growth Equities fund actively managed by Morgan Stanley, while MSEGX is a Large Cap Growth Equities fund actively managed by Morgan Stanley. Both are actively managed. Over the past 10 years, MSSMX returned 15.93%/yr vs 16.54%/yr for MSEGX. Their correlation of 0.84 suggests significant overlap in exposure. MSSMX charges 1.35%/yr vs 0.87%/yr for MSEGX.

Performance

MSSMX vs. MSEGX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Institutional Inception Fund Class A (MSSMX) and Morgan Stanley Institutional Growth Portfolio (MSEGX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MSSMX achieves a 4.06% return, which is significantly higher than MSEGX's -6.33% return. Both investments have delivered pretty close results over the past 10 years, with MSSMX having a 15.93% annualized return and MSEGX not far ahead at 16.54%.

MSSMX

• 1D: 2.51%
• 1M: -0.27%
• YTD: 4.06%
• 6M: -1.96%
• 1Y: 6.07%
• 3Y*: 13.92%
• 5Y*: -9.24%
• 10Y*: 15.93%

MSEGX

• 1D: 0.81%
• 1M: -0.15%
• YTD: -6.33%
• 6M: -11.14%
• 1Y: 3.40%
• 3Y*: 24.49%
• 5Y*: -1.39%
• 10Y*: 16.54%

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

MSSMX vs. MSEGX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MSSMX Morgan Stanley Institutional Inception Fund Class A	4.06%	0.76%	29.15%	54.22%	-59.57%	-4.29%	149.49%	77.58%	-0.03%	22.42%
MSEGX Morgan Stanley Institutional Growth Portfolio	-6.33%	24.43%	46.29%	49.87%	-60.27%	-0.31%	115.11%	38.93%	5.01%	43.53%

Correlation

The correlation between MSSMX and MSEGX is 0.87, 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	0.87
Correlation (3Y) Calculated over the trailing 3-year period	0.88
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.87
Correlation (All Time) Calculated using the full available price history since Dec 29, 1995	0.84

The correlation between MSSMX and MSEGX has been stable across timeframes, ranging from 0.84 to 0.91 - a consistent structural relationship.

Return for Risk

MSSMX vs. MSEGX — Risk / Return Rank

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

MSSMX

MSSMX Risk / Return Rank: 4
MSSMX Sharpe Ratio Rank: 4
MSSMX Sortino Ratio Rank: 5
MSSMX Omega Ratio Rank: 5
MSSMX Calmar Ratio Rank: 4
MSSMX Martin Ratio Rank: 4

MSEGX

MSEGX Risk / Return Rank: 3
MSEGX Sharpe Ratio Rank: 3
MSEGX Sortino Ratio Rank: 4
MSEGX Omega Ratio Rank: 4
MSEGX Calmar Ratio Rank: 3
MSEGX 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.

MSSMX vs. MSEGX - 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 Growth Portfolio (MSEGX). 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	MSEGX	Difference
Sharpe ratio: Return per unit of total volatility	0.20	0.10	+0.09
Sortino ratio: Return per unit of downside risk	0.49	0.35	+0.14
Omega ratio: Gain probability vs. loss probability	1.06	1.04	+0.02
Calmar ratio: Return relative to maximum drawdown	0.18	0.11	+0.07
Martin ratio: Return relative to average drawdown	0.38	0.22	+0.16

MSSMX vs. MSEGX - Sharpe Ratio Comparison

The current MSSMX Sharpe Ratio is 0.20, which is higher than the MSEGX Sharpe Ratio of 0.10. The chart below compares the historical Sharpe Ratios of MSSMX and MSEGX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MSSMX vs. MSEGX - Drawdown Comparison

The maximum MSSMX drawdown since its inception was -76.24%, which is greater than MSEGX's maximum drawdown of -69.57%. Use the drawdown chart below to compare losses from any high point for MSSMX and MSEGX.

Drawdown Indicators

	MSSMX	MSEGX	Difference
Max Drawdown Largest peak-to-trough decline	-76.24%	-69.57%	-6.67%
Max Drawdown (1Y) Largest decline over 1 year	-32.92%	-27.83%	-5.09%
Max Drawdown (3Y) Largest decline over 3 years	-32.92%	-32.54%	-0.38%
Max Drawdown (5Y) Largest decline over 5 years	-73.30%	-69.57%	-3.73%
Max Drawdown (10Y) Largest decline over 10 years	-76.24%	-69.57%	-6.67%
Current Drawdown Current decline from peak	-48.03%	-19.04%	-28.99%
Average Drawdown Average peak-to-trough decline	-24.63%	-19.50%	-5.13%
Ulcer Index Depth and duration of drawdowns from previous peaks	15.77%	13.41%	+2.36%

Volatility

MSSMX vs. MSEGX - Volatility Comparison

Morgan Stanley Institutional Inception Fund Class A (MSSMX) and Morgan Stanley Institutional Growth Portfolio (MSEGX) have volatilities of 10.88% and 10.53%, 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.

Volatility by Period

	MSSMX	MSEGX	Difference
Volatility (1M) Calculated over the trailing 1-month period	10.88%	10.53%	+0.35%
Volatility (6M) Calculated over the trailing 6-month period	23.26%	22.52%	+0.74%
Volatility (1Y) Calculated over the trailing 1-year period	30.70%	29.19%	+1.51%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	37.99%	39.85%	-1.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	34.40%	33.89%	+0.51%

MSSMX vs. MSEGX - Expense Ratio Comparison

MSSMX has a 1.35% expense ratio, which is higher than MSEGX's 0.87% expense ratio.

Dividends

MSSMX vs. MSEGX - Dividend Comparison

Neither MSSMX nor MSEGX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSEGX Morgan Stanley Institutional Growth Portfolio	0.00%	0.00%	0.42%	0.00%	18.70%	26.52%	10.03%	22.75%	5.67%	22.18%	13.17%	7.76%
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

Can I hold both MSSMX and MSEGX in my portfolio?

MSSMX and MSEGX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSSMX or MSEGX?

MSSMX has higher volatility (10.88%) compared to MSEGX (10.53%). In terms of maximum drawdown, MSSMX dropped -76.24% vs MSEGX's -69.57%.

Which has better risk-adjusted returns?

MSSMX currently has the higher Sharpe Ratio (0.20 vs 0.10), 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.