RMDAX vs. MMGPX

Last updated Jun 23, 2026

RMDAX (Virtus Silvant Mid-Cap Growth Fund Class A) and MMGPX (Morgan Stanley Discovery Portfolio) are both Mid Cap Growth Equities funds. Over the past 5 years, RMDAX returned 7.63%/yr vs -6.57%/yr for MMGPX. Their correlation of 0.82 suggests significant overlap in exposure. RMDAX charges 0.99%/yr vs 0.04%/yr for MMGPX.

Performance

RMDAX vs. MMGPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Virtus Silvant Mid-Cap Growth Fund Class A (RMDAX) and Morgan Stanley Discovery Portfolio (MMGPX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, RMDAX achieves a 14.38% return, which is significantly higher than MMGPX's -1.23% return.

RMDAX

• 1D: 1.42%
• 1M: 4.16%
• YTD: 14.38%
• 6M: 11.58%
• 1Y: 21.25%
• 3Y*: 20.96%
• 5Y*: 7.63%
• 10Y*: 14.70%

MMGPX

• 1D: 1.69%
• 1M: -3.48%
• YTD: -1.23%
• 6M: -6.36%
• 1Y: -4.38%
• 3Y*: 21.06%
• 5Y*: -6.57%
• 10Y*: —

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

RMDAX vs. MMGPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RMDAX Virtus Silvant Mid-Cap Growth Fund Class A	14.38%	17.91%	20.11%	24.34%	-32.59%	14.34%	54.94%	41.04%	-11.62%	19.49%
MMGPX Morgan Stanley Discovery Portfolio	-1.23%	12.58%	41.83%	44.34%	-63.37%	-11.55%	152.67%	40.20%	10.89%	28.18%

Correlation

The correlation between RMDAX and MMGPX is 0.79, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.79
Correlation (3Y) Calculated over the trailing 3-year period	0.80
Correlation (5Y) Calculated over the trailing 5-year period	0.83
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017	0.82

The correlation between RMDAX and MMGPX has been stable across timeframes, ranging from 0.79 to 0.83 - a consistent structural relationship.

Return for Risk

RMDAX vs. MMGPX — Risk / Return Rank

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

RMDAX

RMDAX Risk / Return Rank: 18
RMDAX Sharpe Ratio Rank: 16
RMDAX Sortino Ratio Rank: 16
RMDAX Omega Ratio Rank: 15
RMDAX Calmar Ratio Rank: 20
RMDAX Martin Ratio Rank: 24

MMGPX

MMGPX Risk / Return Rank: 2
MMGPX Sharpe Ratio Rank: 2
MMGPX Sortino Ratio Rank: 2
MMGPX Omega Ratio Rank: 2
MMGPX Calmar Ratio Rank: 2
MMGPX Martin Ratio Rank: 2

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.

RMDAX vs. MMGPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Virtus Silvant Mid-Cap Growth Fund Class A (RMDAX) and Morgan Stanley Discovery Portfolio (MMGPX). 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.

	RMDAX	MMGPX	Difference
Sharpe ratio: Return per unit of total volatility	1.06	-0.14	+1.20
Sortino ratio: Return per unit of downside risk	1.56	0.01	+1.56
Omega ratio: Gain probability vs. loss probability	1.19	1.00	+0.19
Calmar ratio: Return relative to maximum drawdown	1.53	-0.14	+1.67
Martin ratio: Return relative to average drawdown	5.27	-0.29	+5.56

RMDAX vs. MMGPX - Sharpe Ratio Comparison

The current RMDAX Sharpe Ratio is 1.06, which is higher than the MMGPX Sharpe Ratio of -0.14. The chart below compares the historical Sharpe Ratios of RMDAX and MMGPX, 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

RMDAX vs. MMGPX - Drawdown Comparison

The maximum RMDAX drawdown since its inception was -56.31%, smaller than the maximum MMGPX drawdown of -75.38%. Use the drawdown chart below to compare losses from any high point for RMDAX and MMGPX.

Drawdown Indicators

	RMDAX	MMGPX	Difference
Max Drawdown Largest peak-to-trough decline	-56.31%	-75.38%	+19.07%
Max Drawdown (1Y) Largest decline over 1 year	-13.81%	-27.79%	+13.98%
Max Drawdown (3Y) Largest decline over 3 years	-27.02%	-29.27%	+2.25%
Max Drawdown (5Y) Largest decline over 5 years	-43.72%	-72.70%	+28.98%
Max Drawdown (10Y) Largest decline over 10 years	-43.72%	—	—
Current Drawdown Current decline from peak	-0.79%	-40.98%	+40.19%
Average Drawdown Average peak-to-trough decline	-9.98%	-30.28%	+20.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.99%	13.58%	-9.59%

Volatility

RMDAX vs. MMGPX - Volatility Comparison

The current volatility for Virtus Silvant Mid-Cap Growth Fund Class A (RMDAX) is 7.28%, while Morgan Stanley Discovery Portfolio (MMGPX) has a volatility of 10.31%. This indicates that RMDAX experiences smaller price fluctuations and is considered to be less risky than MMGPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	RMDAX	MMGPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.28%	10.31%	-3.03%
Volatility (6M) Calculated over the trailing 6-month period	16.04%	21.81%	-5.77%
Volatility (1Y) Calculated over the trailing 1-year period	19.92%	28.58%	-8.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.25%	39.82%	-15.57%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.70%	35.23%	-11.53%

RMDAX vs. MMGPX - Expense Ratio Comparison

RMDAX has a 0.99% expense ratio, which is higher than MMGPX's 0.04% expense ratio.

Dividends

RMDAX vs. MMGPX - Dividend Comparison

RMDAX's dividend yield for the trailing twelve months is around 19.70%, more than MMGPX's 0.43% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MMGPX Morgan Stanley Discovery Portfolio	0.43%	0.43%	0.00%	0.00%	125.40%	64.53%	7.93%	15.63%	28.02%	0.00%	0.00%	0.00%
RMDAX Virtus Silvant Mid-Cap Growth Fund Class A	19.70%	22.53%	0.00%	0.00%	0.00%	35.29%	10.87%	4.87%	16.75%	9.99%	8.25%	6.27%

Frequently Asked Questions

Can I hold both RMDAX and MMGPX in my portfolio?

RMDAX and MMGPX have a correlation of 0.79, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RMDAX or MMGPX?

MMGPX has higher volatility (10.31%) compared to RMDAX (7.28%). In terms of maximum drawdown, RMDAX dropped -56.31% vs MMGPX's -75.38%.

Which has better risk-adjusted returns?

RMDAX currently has the higher Sharpe Ratio (1.06 vs -0.14), 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.