TEGAX vs. MMGPX

Last updated Apr 1, 2026

Compare and contrast key facts about Touchstone Mid Cap Growth Fund (TEGAX) and Morgan Stanley Discovery Portfolio (MMGPX).

TEGAX is managed by Touchstone. It was launched on Oct 3, 1994. MMGPX is managed by Morgan Stanley. It was launched on Apr 30, 2017.

Performance

TEGAX vs. MMGPX - Performance Comparison

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

TEGAX vs. MMGPX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TEGAX Touchstone Mid Cap Growth Fund	-5.75%	9.28%	15.99%	24.20%	-26.18%	15.51%	27.10%	53.26%	-3.71%	19.60%
MMGPX Morgan Stanley Discovery Portfolio	-14.93%	12.58%	41.83%	44.34%	-81.34%	-11.55%	152.67%	40.20%	10.89%	28.18%

Returns By Period

In the year-to-date period, TEGAX achieves a -5.75% return, which is significantly higher than MMGPX's -14.93% return.

TEGAX

• 1D: -1.38%
• 1M: -9.64%
• YTD: -5.75%
• 6M: -8.51%
• 1Y: 13.82%
• 3Y*: 11.23%
• 5Y*: 5.00%
• 10Y*: 12.00%

MMGPX

• 1D: -1.27%
• 1M: -9.08%
• YTD: -14.93%
• 6M: -23.43%
• 1Y: 3.91%
• 3Y*: 19.10%
• 5Y*: -19.96%
• 10Y*: —

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

TEGAX vs. MMGPX - Expense Ratio Comparison

TEGAX has a 1.21% expense ratio, which is higher than MMGPX's 0.04% expense ratio.

TEGAX

Touchstone Mid Cap Growth Fund

MMGPX

Morgan Stanley Discovery Portfolio

Return for Risk

TEGAX vs. MMGPX — Risk / Return Rank

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

TEGAX

TEGAX Risk / Return Rank: 24
TEGAX Sharpe Ratio Rank: 22
TEGAX Sortino Ratio Rank: 24
TEGAX Omega Ratio Rank: 22
TEGAX Calmar Ratio Rank: 26
TEGAX Martin Ratio Rank: 26

MMGPX

MMGPX Risk / Return Rank: 7
MMGPX Sharpe Ratio Rank: 7
MMGPX Sortino Ratio Rank: 8
MMGPX Omega Ratio Rank: 8
MMGPX Calmar Ratio Rank: 6
MMGPX Martin Ratio Rank: 6

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.

TEGAX vs. MMGPX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Touchstone Mid Cap Growth Fund (TEGAX) 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.

	TEGAX	MMGPX	Difference
Sharpe ratio Return per unit of total volatility	0.57	0.10	+0.46
Sortino ratio Return per unit of downside risk	0.97	0.38	+0.59
Omega ratio Gain probability vs. loss probability	1.13	1.05	+0.08
Calmar ratio Return relative to maximum drawdown	0.77	-0.02	+0.79
Martin ratio Return relative to average drawdown	2.79	-0.05	+2.84
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TEGAX vs. MMGPX - Sharpe Ratio Comparison

The current TEGAX Sharpe Ratio is 0.57, which is higher than the MMGPX Sharpe Ratio of 0.10. The chart below compares the historical Sharpe Ratios of TEGAX and MMGPX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TEGAX	MMGPX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.57	0.10	+0.46
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.20	-0.44	+0.64
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.52	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.57	0.14	+0.43

Correlation

The correlation between TEGAX and MMGPX is 0.79, 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

TEGAX vs. MMGPX - Dividend Comparison

TEGAX's dividend yield for the trailing twelve months is around 12.10%, more than MMGPX's 0.50% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TEGAX Touchstone Mid Cap Growth Fund	12.10%	11.40%	2.97%	0.00%	2.69%	16.97%	6.67%	13.97%	8.53%	10.06%	2.59%	8.72%
MMGPX Morgan Stanley Discovery Portfolio	0.50%	0.43%	0.00%	0.00%	0.00%	64.53%	7.93%	15.63%	28.02%	0.00%	0.00%	0.00%

Drawdowns

TEGAX vs. MMGPX - Drawdown Comparison

The maximum TEGAX drawdown since its inception was -53.30%, smaller than the maximum MMGPX drawdown of -87.45%. Use the drawdown chart below to compare losses from any high point for TEGAX and MMGPX.

Drawdown Indicators

	TEGAX	MMGPX	Difference
Max Drawdown Largest peak-to-trough decline	-53.30%	-87.45%	+34.15%
Max Drawdown (1Y) Largest decline over 1 year	-13.74%	-27.79%	+14.05%
Max Drawdown (5Y) Largest decline over 5 years	-41.38%	-86.09%	+44.71%
Max Drawdown (10Y) Largest decline over 10 years	-41.38%	—	—
Current Drawdown Current decline from peak	-10.89%	-74.10%	+63.21%
Average Drawdown Average peak-to-trough decline	-9.27%	-38.69%	+29.42%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.81%	11.11%	-7.30%

Volatility

TEGAX vs. MMGPX - Volatility Comparison

The current volatility for Touchstone Mid Cap Growth Fund (TEGAX) is 6.18%, while Morgan Stanley Discovery Portfolio (MMGPX) has a volatility of 7.90%. This indicates that TEGAX 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

	TEGAX	MMGPX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.18%	7.90%	-1.72%
Volatility (6M) Calculated over the trailing 6-month period	12.89%	21.47%	-8.58%
Volatility (1Y) Calculated over the trailing 1-year period	23.72%	31.90%	-8.18%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	24.87%	45.71%	-20.84%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	23.09%	39.03%	-15.94%