TGFRX vs. MMGPX
TGFRX (Tanaka Growth Fund) and MMGPX (Morgan Stanley Discovery Portfolio) are both Mid Cap Growth Equities funds. Over the past 5 years, TGFRX returned 14.01%/yr vs -6.26%/yr for MMGPX. Their 0.64 correlation means they have sometimes moved together and sometimes differently. TGFRX charges 2.19%/yr vs 0.04%/yr for MMGPX.
Performance
TGFRX vs. MMGPX - Performance Comparison
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Returns By Period
In the year-to-date period, TGFRX achieves a 14.64% return, which is significantly higher than MMGPX's -0.96% return.
TGFRX
- 1D
- 1.58%
- 1M
- -1.75%
- 6M
- 5.03%
- YTD
- 14.64%
- 1Y
- 39.87%
- 3Y*
- 27.42%
- 5Y*
- 14.01%
- 10Y*
- 14.83%
- ALL TIME*
- 8.00%
MMGPX
- 1D
- 1.83%
- 1M
- -3.86%
- 6M
- 6.79%
- YTD
- -0.96%
- 1Y
- -12.68%
- 3Y*
- 20.01%
- 5Y*
- -6.26%
- 10Y*
- —
- ALL TIME*
- 14.84%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
TGFRX Tanaka Growth Fund | $0.00 | $0.00 | $0.00 |
TGFRX vs. MMGPX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TGFRX Tanaka Growth Fund | 14.64% | 39.56% | 17.98% | 50.24% | -22.62% | 26.54% | 50.87% | 18.78% | -25.18% | 4.06% |
MMGPX Morgan Stanley Discovery Portfolio | -0.96% | 12.58% | 41.83% | 44.34% | -63.37% | -11.55% | 152.67% | 40.20% | 10.89% | 28.18% |
Correlation
The correlation between TGFRX and MMGPX is 0.61, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.61 |
Correlation (3Y) Balances recent behavior with more history. | 0.64 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.69 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017 | 0.64 |
The correlation between TGFRX and MMGPX has been stable across timeframes, ranging from 0.61 to 0.69 - a consistent structural relationship.
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Return for Risk
TGFRX vs. MMGPX — Risk / Return Rank
TGFRX
MMGPX
TGFRX vs. MMGPX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tanaka Growth Fund (TGFRX) 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.
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.
| TGFRX | MMGPX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.76 | ||
| Sortino ratioReturn per unit of downside risk | +2.32 | ||
| Omega ratioGain probability vs. loss probability | 1.24 | 0.96 | +0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.80 | -0.38 | +3.18 |
| Martin ratioReturn relative to average drawdown | 6.72 | -0.72 | +7.44 |
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Drawdowns
TGFRX vs. MMGPX - Drawdown Comparison
The maximum TGFRX drawdown since its inception was -74.43%, roughly equal to the maximum MMGPX drawdown of -75.38%. Use the drawdown chart below to compare losses from any high point for TGFRX and MMGPX.
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Drawdown Indicators
| TGFRX | MMGPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -74.43% | -75.38% | +0.95% |
Max Drawdown (1Y)Largest decline over 1 year | -16.01% | -27.79% | +11.78% |
Max Drawdown (3Y)Largest decline over 3 years | -61.68% | -29.27% | -32.41% |
Max Drawdown (5Y)Largest decline over 5 years | -61.68% | -72.70% | +11.02% |
Max Drawdown (10Y)Largest decline over 10 years | -61.68% | — | — |
Current DrawdownCurrent decline from peak | -29.50% | -40.82% | +11.32% |
Average DrawdownAverage peak-to-trough decline | -29.60% | -30.41% | +0.81% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.65% | 14.54% | -7.89% |
Volatility
TGFRX vs. MMGPX - Volatility Comparison
Tanaka Growth Fund (TGFRX) has a higher volatility of 11.14% compared to Morgan Stanley Discovery Portfolio (MMGPX) at 7.14%. This indicates that TGFRX's price experiences larger fluctuations and is considered to be riskier than MMGPX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TGFRX | MMGPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 11.14% | 7.14% | +4.00% |
Volatility (6M)Calculated over the trailing 6-month period | 24.34% | 21.86% | +2.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 32.08% | 29.03% | +3.05% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 62.34% | 39.84% | +22.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 47.57% | 35.11% | +12.46% |
TGFRX vs. MMGPX - Expense Ratio Comparison
TGFRX has a 2.19% expense ratio, which is higher than MMGPX's 0.04% expense ratio.
Dividends
TGFRX vs. MMGPX - Dividend Comparison
TGFRX's dividend yield for the trailing twelve months is around 11.36%, while MMGPX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
MMGPX Morgan Stanley Discovery Portfolio | 0.00% | 0.43% | 0.00% | 0.00% | 125.40% | 64.53% | 7.93% | 15.63% | 28.02% |
TGFRX Tanaka Growth Fund | 11.36% | 13.02% | 6.89% | 0.00% | 0.11% | 7.44% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
TGFRX and MMGPX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TGFRX has higher volatility (11.14%) compared to MMGPX (7.14%). In terms of maximum drawdown, TGFRX dropped -74.43% vs MMGPX's -75.38%.
TGFRX currently has the higher Sharpe Ratio (1.40 vs -0.36), 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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