TEMUX vs. MGKQX
TEMUX (Morgan Stanley Pathway Funds Emerging Markets Equity Fund) and MGKQX (Morgan Stanley Global Permanence Portfolio) are both mutual funds - TEMUX is a Emerging Markets Equities fund managed by Morgan Stanley, while MGKQX is a Global Equities fund managed by Morgan Stanley. Over the past 5 years, TEMUX returned 6.84%/yr vs 3.06%/yr for MGKQX. Their 0.62 correlation means they have sometimes moved together and sometimes differently. TEMUX charges 0.81%/yr vs 0.95%/yr for MGKQX.
Performance
TEMUX vs. MGKQX - Performance Comparison
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Returns By Period
In the year-to-date period, TEMUX achieves a 19.24% return, which is significantly higher than MGKQX's -0.25% return.
TEMUX
- 1D
- 2.50%
- 1M
- -1.04%
- 6M
- 10.47%
- YTD
- 19.24%
- 1Y
- 37.83%
- 3Y*
- 18.63%
- 5Y*
- 6.84%
- 10Y*
- 7.84%
- ALL TIME*
- 5.49%
MGKQX
- 1D
- -1.39%
- 1M
- -1.56%
- 6M
- -2.04%
- YTD
- -0.25%
- 1Y
- -15.35%
- 3Y*
- 4.55%
- 5Y*
- 3.06%
- 10Y*
- —
- ALL TIME*
- 8.67%
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 |
TEMUX vs. MGKQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TEMUX Morgan Stanley Pathway Funds Emerging Markets Equity Fund | 19.24% | 34.68% | 5.47% | 9.87% | -21.75% | -3.50% | 11.18% | 6.72% |
MGKQX Morgan Stanley Global Permanence Portfolio | -0.25% | 5.52% | 10.81% | 20.89% | -19.81% | 19.55% | 27.09% | 6.40% |
Correlation
The correlation between TEMUX and MGKQX is 0.41, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.41 |
Correlation (3Y) Balances recent behavior with more history. | 0.50 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.58 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2019 | 0.62 |
Over the past year, the correlation between TEMUX and MGKQX has dropped to 0.41 - well below their long-term average of 0.62, suggesting their price drivers have been diverging.
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Return for Risk
TEMUX vs. MGKQX — Risk / Return Rank
TEMUX
MGKQX
TEMUX vs. MGKQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Pathway Funds Emerging Markets Equity Fund (TEMUX) and Morgan Stanley Global Permanence Portfolio (MGKQX). 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.
| TEMUX | MGKQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.59 | ||
| Sortino ratioReturn per unit of downside risk | +3.15 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 0.89 | +0.46 |
| Calmar ratioReturn relative to maximum drawdown | 3.22 | -0.63 | +3.84 |
| Martin ratioReturn relative to average drawdown | 9.72 | -1.01 | +10.73 |
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Drawdowns
TEMUX vs. MGKQX - Drawdown Comparison
The maximum TEMUX drawdown since its inception was -68.20%, which is greater than MGKQX's maximum drawdown of -33.07%. Use the drawdown chart below to compare losses from any high point for TEMUX and MGKQX.
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Drawdown Indicators
| TEMUX | MGKQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.20% | -33.07% | -35.13% |
Max Drawdown (1Y)Largest decline over 1 year | -13.10% | -25.97% | +12.87% |
Max Drawdown (3Y)Largest decline over 3 years | -16.86% | -25.97% | +9.11% |
Max Drawdown (5Y)Largest decline over 5 years | -36.42% | -30.96% | -5.46% |
Max Drawdown (10Y)Largest decline over 10 years | -40.17% | — | — |
Current DrawdownCurrent decline from peak | -7.53% | -20.76% | +13.23% |
Average DrawdownAverage peak-to-trough decline | -21.75% | -8.81% | -12.94% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.16% | 16.05% | -11.89% |
Volatility
TEMUX vs. MGKQX - Volatility Comparison
Morgan Stanley Pathway Funds Emerging Markets Equity Fund (TEMUX) has a higher volatility of 9.32% compared to Morgan Stanley Global Permanence Portfolio (MGKQX) at 4.57%. This indicates that TEMUX's price experiences larger fluctuations and is considered to be riskier than MGKQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TEMUX | MGKQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 9.32% | 4.57% | +4.75% |
Volatility (6M)Calculated over the trailing 6-month period | 18.96% | 15.03% | +3.93% |
Volatility (1Y)Calculated over the trailing 1-year period | 21.41% | 26.22% | -4.81% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 18.12% | 23.95% | -5.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.07% | 23.66% | -5.59% |
TEMUX vs. MGKQX - Expense Ratio Comparison
TEMUX has a 0.81% expense ratio, which is lower than MGKQX's 0.95% expense ratio.
Dividends
TEMUX vs. MGKQX - Dividend Comparison
TEMUX's dividend yield for the trailing twelve months is around 2.03%, while MGKQX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MGKQX Morgan Stanley Global Permanence Portfolio | 0.00% | 0.00% | 21.29% | 5.29% | 1.80% | 16.33% | 0.74% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
TEMUX Morgan Stanley Pathway Funds Emerging Markets Equity Fund | 2.03% | 2.43% | 2.09% | 2.41% | 1.92% | 4.47% | 1.96% | 1.81% | 1.67% | 1.26% | 1.10% | 1.44% |
Frequently Asked Questions
TEMUX and MGKQX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TEMUX has higher volatility (9.32%) compared to MGKQX (4.57%). In terms of maximum drawdown, TEMUX dropped -68.20% vs MGKQX's -33.07%.
TEMUX currently has the higher Sharpe Ratio (1.97 vs -0.62), 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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