SGPIX vs. MSCI

Last updated Jun 3, 2026

SGPIX (ProFunds Small Cap Growth Fund) is Small Cap Growth Equities fund managed by ProFunds, while MSCI (MSCI Inc.) is a stock. Over the past 10 years, SGPIX returned 8.29%/yr vs 24.75%/yr for MSCI. A 0.55 correlation means they provide meaningful diversification when combined.

Performance

SGPIX vs. MSCI - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProFunds Small Cap Growth Fund (SGPIX) and MSCI Inc. (MSCI). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, SGPIX achieves a 14.43% return, which is significantly higher than MSCI's 10.69% return. Over the past 10 years, SGPIX has underperformed MSCI with an annualized return of 8.29%, while MSCI has yielded a comparatively higher 24.75% annualized return.

SGPIX

• 1D: -0.51%
• 1M: 0.05%
• YTD: 14.43%
• 6M: 14.15%
• 1Y: 25.58%
• 3Y*: 12.48%
• 5Y*: 2.30%
• 10Y*: 8.29%

MSCI

• 1D: -2.11%
• 1M: 7.42%
• YTD: 10.69%
• 6M: 16.03%
• 1Y: 13.27%
• 3Y*: 10.96%
• 5Y*: 7.59%
• 10Y*: 24.75%

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

SGPIX vs. MSCI - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
SGPIX ProFunds Small Cap Growth Fund	14.43%	3.52%	7.53%	15.35%	-22.72%	13.29%	17.43%	18.95%	-5.76%	12.73%
MSCI MSCI Inc.	10.69%	-3.17%	7.31%	22.90%	-23.34%	38.14%	74.38%	77.19%	17.95%	62.63%

Correlation

The correlation between SGPIX and MSCI is 0.29, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.29
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.53
Correlation (10Y) Calculated over the trailing 10-year period	0.49
Correlation (All Time) Calculated using the full available price history since Nov 16, 2007	0.55

Over the past year, the correlation between SGPIX and MSCI has dropped to 0.29 - well below their long-term average of 0.55, suggesting their price drivers have been diverging.

Return for Risk

SGPIX vs. MSCI — Risk / Return Rank

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

SGPIX

SGPIX Risk / Return Rank: 35
SGPIX Sharpe Ratio Rank: 25
SGPIX Sortino Ratio Rank: 27
SGPIX Omega Ratio Rank: 24
SGPIX Calmar Ratio Rank: 52
SGPIX Martin Ratio Rank: 45

MSCI

MSCI Risk / Return Rank: 54
MSCI Sharpe Ratio Rank: 56
MSCI Sortino Ratio Rank: 49
MSCI Omega Ratio Rank: 50
MSCI Calmar Ratio Rank: 56
MSCI Martin Ratio Rank: 59

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.

SGPIX vs. MSCI - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProFunds Small Cap Growth Fund (SGPIX) and MSCI Inc. (MSCI). 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.

	SGPIX	MSCI	Difference
Sharpe ratio Return per unit of total volatility	1.46	0.47	+0.99
Sortino ratio Return per unit of downside risk	2.19	0.83	+1.36
Omega ratio Gain probability vs. loss probability	1.26	1.11	+0.14
Calmar ratio Return relative to maximum drawdown	2.76	0.74	+2.03
Martin ratio Return relative to average drawdown	9.53	1.94	+7.60
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

SGPIX vs. MSCI - Sharpe Ratio Comparison

The current SGPIX Sharpe Ratio is 1.46, which is higher than the MSCI Sharpe Ratio of 0.47. The chart below compares the historical Sharpe Ratios of SGPIX and MSCI, 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

	SGPIX	MSCI	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.46	0.47	+0.99
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.11	0.25	-0.14
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.37	0.80	-0.42
Sharpe Ratio (All Time) Calculated using the full available price history	0.35	0.56	-0.21

Drawdowns

SGPIX vs. MSCI - Drawdown Comparison

The maximum SGPIX drawdown since its inception was -58.70%, smaller than the maximum MSCI drawdown of -69.06%. Use the drawdown chart below to compare losses from any high point for SGPIX and MSCI.

Drawdown Indicators

	SGPIX	MSCI	Difference
Max Drawdown Largest peak-to-trough decline	-58.70%	-69.06%	+10.36%
Max Drawdown (1Y) Largest decline over 1 year	-9.15%	-18.07%	+8.92%
Max Drawdown (3Y) Largest decline over 3 years	-27.72%	-25.99%	-1.73%
Max Drawdown (5Y) Largest decline over 5 years	-34.64%	-43.74%	+9.10%
Max Drawdown (10Y) Largest decline over 10 years	-43.14%	-43.74%	+0.60%
Current Drawdown Current decline from peak	-1.57%	-2.11%	+0.54%
Average Drawdown Average peak-to-trough decline	-11.26%	-13.09%	+1.83%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.65%	6.87%	-4.22%

Volatility

SGPIX vs. MSCI - Volatility Comparison

The current volatility for ProFunds Small Cap Growth Fund (SGPIX) is 4.62%, while MSCI Inc. (MSCI) has a volatility of 7.42%. This indicates that SGPIX experiences smaller price fluctuations and is considered to be less risky than MSCI based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	SGPIX	MSCI	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.62%	7.42%	-2.80%
Volatility (6M) Calculated over the trailing 6-month period	12.52%	20.60%	-8.08%
Volatility (1Y) Calculated over the trailing 1-year period	17.54%	28.45%	-10.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	21.62%	30.70%	-9.08%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.35%	31.17%	-8.82%

Dividends

SGPIX vs. MSCI - Dividend Comparison

SGPIX's dividend yield for the trailing twelve months is around 0.16%, less than MSCI's 1.22% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSCI MSCI Inc.	1.22%	1.25%	1.07%	0.98%	0.98%	0.59%	0.65%	0.98%	1.30%	1.04%	1.27%	1.11%
SGPIX ProFunds Small Cap Growth Fund	0.16%	0.18%	1.58%	0.80%	3.80%	2.06%	0.00%	0.00%	4.29%	0.00%	0.00%	2.58%

Frequently Asked Questions

Can I hold both SGPIX and MSCI in my portfolio?

SGPIX and MSCI have a correlation of 0.29, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, SGPIX or MSCI?

MSCI has higher volatility (7.42%) compared to SGPIX (4.62%). In terms of maximum drawdown, SGPIX dropped -58.70% vs MSCI's -69.06%.

Which has better risk-adjusted returns?

SGPIX currently has the higher Sharpe Ratio (1.46 vs 0.47), 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.