RNGCX vs. MSFAX
RNGCX (American Funds The New Economy Fund Class R-3) and MSFAX (Morgan Stanley Institutional Fund, Inc. Global Franchise Portfolio) are both Global Equities funds. Over the past 10 years, RNGCX returned 14.63%/yr vs 6.74%/yr for MSFAX. Their 0.71 correlation means they have sometimes moved together and sometimes differently. RNGCX charges 1.05%/yr vs 0.92%/yr for MSFAX.
Performance
RNGCX vs. MSFAX - Performance Comparison
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Returns By Period
In the year-to-date period, RNGCX achieves a 13.88% return, which is significantly higher than MSFAX's -6.51% return. Over the past 10 years, RNGCX has outperformed MSFAX with an annualized return of 14.63%, while MSFAX has yielded a comparatively lower 6.74% annualized return.
RNGCX
- 1D
- 3.58%
- 1M
- -4.68%
- 6M
- 9.92%
- YTD
- 13.88%
- 1Y
- 35.37%
- 3Y*
- 24.58%
- 5Y*
- 11.24%
- 10Y*
- 14.63%
- ALL TIME*
- 11.95%
MSFAX
- 1D
- 0.18%
- 1M
- 1.99%
- 6M
- -3.55%
- YTD
- -6.51%
- 1Y
- -21.05%
- 3Y*
- -2.49%
- 5Y*
- -1.33%
- 10Y*
- 6.74%
- ALL TIME*
- 10.08%
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 |
RNGCX vs. MSFAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
RNGCX American Funds The New Economy Fund Class R-3 | 13.88% | 30.60% | 23.19% | 28.77% | -29.88% | 11.70% | 33.05% | 26.06% | -4.68% | 33.90% |
MSFAX Morgan Stanley Institutional Fund, Inc. Global Franchise Portfolio | -6.51% | -11.65% | 8.94% | 16.41% | -17.26% | 21.89% | 13.24% | 34.63% | -1.66% | 24.68% |
Correlation
The correlation between RNGCX and MSFAX is 0.30, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.30 |
Correlation (3Y) Balances recent behavior with more history. | 0.53 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.67 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.70 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 2003 | 0.71 |
Over the past year, the correlation between RNGCX and MSFAX has dropped to 0.30 - well below their long-term average of 0.71, suggesting their price drivers have been diverging.
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Return for Risk
RNGCX vs. MSFAX — Risk / Return Rank
RNGCX
MSFAX
RNGCX vs. MSFAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for American Funds The New Economy Fund Class R-3 (RNGCX) and Morgan Stanley Institutional Fund, Inc. Global Franchise Portfolio (MSFAX). 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.
| RNGCX | MSFAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.86 | ||
| Sortino ratioReturn per unit of downside risk | +3.66 | ||
| Omega ratioGain probability vs. loss probability | 1.28 | 0.75 | +0.52 |
| Calmar ratioReturn relative to maximum drawdown | 2.44 | -0.76 | +3.20 |
| Martin ratioReturn relative to average drawdown | 9.06 | -1.20 | +10.26 |
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Drawdowns
RNGCX vs. MSFAX - Drawdown Comparison
The maximum RNGCX drawdown since its inception was -55.54%, which is greater than MSFAX's maximum drawdown of -43.81%. Use the drawdown chart below to compare losses from any high point for RNGCX and MSFAX.
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Drawdown Indicators
| RNGCX | MSFAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.54% | -43.81% | -11.73% |
Max Drawdown (1Y)Largest decline over 1 year | -13.41% | -29.20% | +15.79% |
Max Drawdown (3Y)Largest decline over 3 years | -20.86% | -33.89% | +13.03% |
Max Drawdown (5Y)Largest decline over 5 years | -37.25% | -33.89% | -3.36% |
Max Drawdown (10Y)Largest decline over 10 years | -37.25% | -33.89% | -3.36% |
Current DrawdownCurrent decline from peak | -8.02% | -27.74% | +19.72% |
Average DrawdownAverage peak-to-trough decline | -8.88% | -6.02% | -2.86% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.61% | 18.45% | -14.84% |
Volatility
RNGCX vs. MSFAX - Volatility Comparison
American Funds The New Economy Fund Class R-3 (RNGCX) has a higher volatility of 7.56% compared to Morgan Stanley Institutional Fund, Inc. Global Franchise Portfolio (MSFAX) at 4.98%. This indicates that RNGCX's price experiences larger fluctuations and is considered to be riskier than MSFAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| RNGCX | MSFAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.56% | 4.98% | +2.58% |
Volatility (6M)Calculated over the trailing 6-month period | 17.17% | 10.80% | +6.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 20.42% | 17.73% | +2.69% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 19.99% | 17.13% | +2.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.31% | 16.90% | +2.41% |
RNGCX vs. MSFAX - Expense Ratio Comparison
RNGCX has a 1.05% expense ratio, which is higher than MSFAX's 0.92% expense ratio.
Dividends
RNGCX vs. MSFAX - Dividend Comparison
RNGCX's dividend yield for the trailing twelve months is around 9.22%, while MSFAX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSFAX Morgan Stanley Institutional Fund, Inc. Global Franchise Portfolio | 0.00% | 0.00% | 11.85% | 1.96% | 1.69% | 2.75% | 3.48% | 8.23% | 5.76% | 3.72% | 3.11% | 4.75% |
RNGCX American Funds The New Economy Fund Class R-3 | 9.22% | 10.50% | 10.06% | 3.87% | 0.00% | 7.83% | 2.53% | 7.21% | 9.78% | 8.29% | 0.00% | 5.89% |
Frequently Asked Questions
RNGCX and MSFAX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
RNGCX has higher volatility (7.56%) compared to MSFAX (4.98%). In terms of maximum drawdown, RNGCX dropped -55.54% vs MSFAX's -43.81%.
RNGCX currently has the higher Sharpe Ratio (1.60 vs -1.25), 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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