RPTTX vs. MMGPX

Last updated Jun 4, 2026

RPTTX (T. Rowe Price Diversified Mid Cap Growth I) and MMGPX (Morgan Stanley Discovery Portfolio) are both Mid Cap Growth Equities funds. Over the past 5 years, RPTTX returned 8.16%/yr vs -3.53%/yr for MMGPX. Their correlation of 0.82 suggests significant overlap in exposure. RPTTX charges 0.67%/yr vs 0.04%/yr for MMGPX.

Performance

RPTTX vs. MMGPX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in T. Rowe Price Diversified Mid Cap Growth I (RPTTX) 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, RPTTX achieves a 4.84% return, which is significantly lower than MMGPX's 6.58% return.

RPTTX

• 1D: 0.16%
• 1M: 4.11%
• YTD: 4.84%
• 6M: 3.66%
• 1Y: 8.44%
• 3Y*: 16.59%
• 5Y*: 8.16%
• 10Y*: —

MMGPX

• 1D: -1.64%
• 1M: 5.85%
• YTD: 6.58%
• 6M: 2.50%
• 1Y: 4.84%
• 3Y*: 26.16%
• 5Y*: -3.53%
• 10Y*: —

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

RPTTX vs. MMGPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
RPTTX T. Rowe Price Diversified Mid Cap Growth I	4.84%	10.48%	23.99%	21.00%	-24.50%	13.69%	32.02%	38.08%	-3.02%	13.20%
MMGPX Morgan Stanley Discovery Portfolio	6.58%	12.58%	41.83%	44.34%	-63.37%	-11.55%	152.67%	40.20%	10.89%	17.02%

Correlation

The correlation between RPTTX and MMGPX is 0.81, 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	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.84
Correlation (All Time) Calculated using the full available price history since May 5, 2017	0.82

The correlation between RPTTX and MMGPX has been stable across timeframes, ranging from 0.81 to 0.84 - a consistent structural relationship.

Return for Risk

RPTTX vs. MMGPX — Risk / Return Rank

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

RPTTX

RPTTX Risk / Return Rank: 7
RPTTX Sharpe Ratio Rank: 7
RPTTX Sortino Ratio Rank: 7
RPTTX Omega Ratio Rank: 7
RPTTX Calmar Ratio Rank: 7
RPTTX Martin Ratio Rank: 8

MMGPX

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

RPTTX vs. MMGPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for T. Rowe Price Diversified Mid Cap Growth I (RPTTX) 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.

	RPTTX	MMGPX	Difference
Sharpe ratio: Return per unit of total volatility	0.57	0.22	+0.34
Sortino ratio: Return per unit of downside risk	0.91	0.50	+0.41
Omega ratio: Gain probability vs. loss probability	1.10	1.06	+0.05
Calmar ratio: Return relative to maximum drawdown	0.67	0.22	+0.45
Martin ratio: Return relative to average drawdown	2.12	0.47	+1.65
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

RPTTX vs. MMGPX - Sharpe Ratio Comparison

The current RPTTX Sharpe Ratio is 0.57, which is higher than the MMGPX Sharpe Ratio of 0.22. The chart below compares the historical Sharpe Ratios of RPTTX 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.

Sharpe Ratios by Period

	RPTTX	MMGPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.57	0.22	+0.34
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.38	-0.09	+0.47
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	0.46	+0.12

Drawdowns

RPTTX vs. MMGPX - Drawdown Comparison

The maximum RPTTX drawdown since its inception was -35.91%, smaller than the maximum MMGPX drawdown of -75.38%. Use the drawdown chart below to compare losses from any high point for RPTTX and MMGPX.

Drawdown Indicators

	RPTTX	MMGPX	Difference
Max Drawdown Largest peak-to-trough decline	-35.91%	-75.38%	+39.47%
Max Drawdown (1Y) Largest decline over 1 year	-14.08%	-27.79%	+13.71%
Max Drawdown (3Y) Largest decline over 3 years	-25.04%	-29.27%	+4.23%
Max Drawdown (5Y) Largest decline over 5 years	-35.62%	-72.70%	+37.08%
Current Drawdown Current decline from peak	-0.66%	-36.32%	+35.66%
Average Drawdown Average peak-to-trough decline	-8.44%	-30.24%	+21.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.45%	13.11%	-8.66%

Volatility

RPTTX vs. MMGPX - Volatility Comparison

The current volatility for T. Rowe Price Diversified Mid Cap Growth I (RPTTX) is 3.87%, while Morgan Stanley Discovery Portfolio (MMGPX) has a volatility of 8.88%. This indicates that RPTTX 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

	RPTTX	MMGPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.87%	8.88%	-5.01%
Volatility (6M) Calculated over the trailing 6-month period	12.95%	20.96%	-8.01%
Volatility (1Y) Calculated over the trailing 1-year period	16.70%	27.57%	-10.87%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.81%	39.71%	-17.90%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.06%	35.22%	-13.16%

RPTTX vs. MMGPX - Expense Ratio Comparison

RPTTX has a 0.67% expense ratio, which is higher than MMGPX's 0.04% expense ratio.

Dividends

RPTTX vs. MMGPX - Dividend Comparison

RPTTX's dividend yield for the trailing twelve months is around 7.52%, more than MMGPX's 0.40% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
MMGPX Morgan Stanley Discovery Portfolio	0.40%	0.43%	0.00%	0.00%	125.40%	64.53%	7.93%	15.63%	28.02%	0.00%
RPTTX T. Rowe Price Diversified Mid Cap Growth I	7.52%	7.89%	8.53%	6.85%	1.22%	10.29%	4.89%	2.13%	5.38%	3.81%

Frequently Asked Questions

Can I hold both RPTTX and MMGPX in my portfolio?

RPTTX and MMGPX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, RPTTX or MMGPX?

MMGPX has higher volatility (8.88%) compared to RPTTX (3.87%). In terms of maximum drawdown, RPTTX dropped -35.91% vs MMGPX's -75.38%.

Which has better risk-adjusted returns?

RPTTX currently has the higher Sharpe Ratio (0.57 vs 0.22), 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.