MUOIX vs. SPY
Compare and contrast key facts about Morgan Stanley Institutional Fund, Inc. US Core Portfolio (MUOIX) and State Street SPDR S&P 500 ETF (SPY).
MUOIX is managed by T. Rowe Price. It was launched on May 27, 2016. SPY is a passively managed fund by State Street that tracks the performance of the S&P 500 Index. It was launched on Jan 22, 1993.
Performance
MUOIX vs. SPY - Performance Comparison
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MUOIX vs. SPY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MUOIX Morgan Stanley Institutional Fund, Inc. US Core Portfolio | -11.80% | 16.48% | 28.61% | 18.07% | -20.21% | 35.99% | 24.20% | 36.01% | -11.00% | 17.98% |
SPY State Street SPDR S&P 500 ETF | -4.37% | 17.72% | 24.89% | 26.18% | -18.18% | 28.73% | 18.33% | 31.22% | -4.57% | 20.78% |
Returns By Period
In the year-to-date period, MUOIX achieves a -11.80% return, which is significantly lower than SPY's -4.37% return.
MUOIX
- 1D
- -0.13%
- 1M
- -8.18%
- YTD
- -11.80%
- 6M
- -10.56%
- 1Y
- 7.42%
- 3Y*
- 15.59%
- 5Y*
- 9.60%
- 10Y*
- —
SPY
- 1D
- 2.91%
- 1M
- -4.94%
- YTD
- -4.37%
- 6M
- -1.82%
- 1Y
- 17.59%
- 3Y*
- 18.19%
- 5Y*
- 11.69%
- 10Y*
- 13.98%
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MUOIX vs. SPY - Expense Ratio Comparison
MUOIX has a 0.80% expense ratio, which is higher than SPY's 0.09% expense ratio.
Return for Risk
MUOIX vs. SPY — Risk / Return Rank
MUOIX
SPY
MUOIX vs. SPY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Fund, Inc. US Core Portfolio (MUOIX) and State Street SPDR S&P 500 ETF (SPY). 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.
| MUOIX | SPY | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.44 | 0.93 | -0.49 |
Sortino ratioReturn per unit of downside risk | 0.75 | 1.45 | -0.71 |
Omega ratioGain probability vs. loss probability | 1.11 | 1.22 | -0.12 |
Calmar ratioReturn relative to maximum drawdown | 0.41 | 1.53 | -1.12 |
Martin ratioReturn relative to average drawdown | 1.54 | 7.30 | -5.76 |
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
| MUOIX | SPY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.44 | 0.93 | -0.49 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.54 | 0.69 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.78 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.63 | 0.56 | +0.07 |
Correlation
The correlation between MUOIX and SPY is 0.95, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
MUOIX vs. SPY - Dividend Comparison
MUOIX has not paid dividends to shareholders, while SPY's dividend yield for the trailing twelve months is around 1.14%.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MUOIX Morgan Stanley Institutional Fund, Inc. US Core Portfolio | 0.00% | 0.00% | 0.08% | 0.32% | 0.21% | 0.04% | 0.30% | 1.35% | 1.50% | 0.49% | 0.00% | 0.00% |
SPY State Street SPDR S&P 500 ETF | 1.14% | 1.07% | 1.21% | 1.40% | 1.65% | 1.20% | 1.52% | 1.75% | 2.04% | 1.80% | 2.03% | 2.06% |
Drawdowns
MUOIX vs. SPY - Drawdown Comparison
The maximum MUOIX drawdown since its inception was -38.35%, smaller than the maximum SPY drawdown of -55.19%. Use the drawdown chart below to compare losses from any high point for MUOIX and SPY.
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Drawdown Indicators
| MUOIX | SPY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -38.35% | -55.19% | +16.84% |
Max Drawdown (1Y)Largest decline over 1 year | -13.75% | -12.05% | -1.70% |
Max Drawdown (5Y)Largest decline over 5 years | -24.92% | -24.50% | -0.42% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.72% | — |
Current DrawdownCurrent decline from peak | -13.75% | -6.24% | -7.51% |
Average DrawdownAverage peak-to-trough decline | -6.28% | -9.09% | +2.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.64% | 2.52% | +1.12% |
Volatility
MUOIX vs. SPY - Volatility Comparison
The current volatility for Morgan Stanley Institutional Fund, Inc. US Core Portfolio (MUOIX) is 4.30%, while State Street SPDR S&P 500 ETF (SPY) has a volatility of 5.31%. This indicates that MUOIX experiences smaller price fluctuations and is considered to be less risky than SPY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MUOIX | SPY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 4.30% | 5.31% | -1.01% |
Volatility (6M)Calculated over the trailing 6-month period | 9.67% | 9.47% | +0.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 18.00% | 19.05% | -1.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.99% | 17.06% | +0.93% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 20.23% | 17.92% | +2.31% |