TIEUX vs. MACGX
TIEUX (Morgan Stanley Pathway Funds International Equity Fund) and MACGX (Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A) are both mutual funds - TIEUX is a Foreign Large Cap Equities fund managed by Morgan Stanley, while MACGX is a Mid Cap Growth Equities fund managed by Morgan Stanley. Over the past 10 years, TIEUX returned 9.61%/yr vs 13.03%/yr for MACGX. Their 0.55 correlation means they have sometimes moved together and sometimes differently. TIEUX charges 0.67%/yr vs 1.00%/yr for MACGX.
Performance
TIEUX vs. MACGX - Performance Comparison
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Returns By Period
In the year-to-date period, TIEUX achieves a 7.28% return, which is significantly higher than MACGX's -3.13% return. Over the past 10 years, TIEUX has underperformed MACGX with an annualized return of 9.61%, while MACGX has yielded a comparatively higher 13.03% annualized return.
TIEUX
- 1D
- 0.42%
- 1M
- 0.06%
- 6M
- 2.50%
- YTD
- 7.28%
- 1Y
- 15.07%
- 3Y*
- 15.69%
- 5Y*
- 9.44%
- 10Y*
- 9.61%
- ALL TIME*
- 5.84%
MACGX
- 1D
- -0.19%
- 1M
- -3.02%
- 6M
- -4.00%
- YTD
- -3.13%
- 1Y
- -11.41%
- 3Y*
- 19.23%
- 5Y*
- -7.12%
- 10Y*
- 13.03%
- ALL TIME*
- 9.63%
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 |
TIEUX vs. MACGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TIEUX Morgan Stanley Pathway Funds International Equity Fund | 7.28% | 29.95% | 8.08% | 19.74% | -14.66% | 11.69% | 10.05% | 22.77% | -15.73% | 27.15% |
MACGX Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A | -3.13% | 13.71% | 42.06% | 46.30% | -63.51% | -12.84% | 142.01% | 39.41% | 11.85% | 38.99% |
Correlation
The correlation between TIEUX and MACGX is 0.48, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.48 |
Correlation (3Y) Balances recent behavior with more history. | 0.49 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.53 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.50 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 1997 | 0.55 |
The correlation between TIEUX and MACGX has been stable across timeframes, ranging from 0.48 to 0.55 - a consistent structural relationship.
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Return for Risk
TIEUX vs. MACGX — Risk / Return Rank
TIEUX
MACGX
TIEUX vs. MACGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Pathway Funds International Equity Fund (TIEUX) and Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A (MACGX). 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.
| TIEUX | MACGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.36 | ||
| Sortino ratioReturn per unit of downside risk | +1.82 | ||
| Omega ratioGain probability vs. loss probability | 1.19 | 0.96 | +0.23 |
| Calmar ratioReturn relative to maximum drawdown | 1.36 | -0.40 | +1.75 |
| Martin ratioReturn relative to average drawdown | 4.50 | -0.79 | +5.29 |
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Drawdowns
TIEUX vs. MACGX - Drawdown Comparison
The maximum TIEUX drawdown since its inception was -60.57%, smaller than the maximum MACGX drawdown of -77.61%. Use the drawdown chart below to compare losses from any high point for TIEUX and MACGX.
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Drawdown Indicators
| TIEUX | MACGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -60.57% | -77.61% | +17.04% |
Max Drawdown (1Y)Largest decline over 1 year | -12.32% | -27.55% | +15.23% |
Max Drawdown (3Y)Largest decline over 3 years | -13.97% | -28.55% | +14.58% |
Max Drawdown (5Y)Largest decline over 5 years | -29.89% | -77.61% | +47.72% |
Max Drawdown (10Y)Largest decline over 10 years | -37.05% | -77.61% | +40.56% |
Current DrawdownCurrent decline from peak | -3.06% | -46.15% | +43.09% |
Average DrawdownAverage peak-to-trough decline | -14.76% | -25.73% | +10.97% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.58% | 13.80% | -10.22% |
Volatility
TIEUX vs. MACGX - Volatility Comparison
The current volatility for Morgan Stanley Pathway Funds International Equity Fund (TIEUX) is 3.83%, while Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A (MACGX) has a volatility of 6.84%. This indicates that TIEUX experiences smaller price fluctuations and is considered to be less risky than MACGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIEUX | MACGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.83% | 6.84% | -3.01% |
Volatility (6M)Calculated over the trailing 6-month period | 14.45% | 22.01% | -7.56% |
Volatility (1Y)Calculated over the trailing 1-year period | 17.03% | 28.96% | -11.93% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.28% | 48.39% | -31.11% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.01% | 39.45% | -22.44% |
TIEUX vs. MACGX - Expense Ratio Comparison
TIEUX has a 0.67% expense ratio, which is lower than MACGX's 1.00% expense ratio.
Dividends
TIEUX vs. MACGX - Dividend Comparison
TIEUX's dividend yield for the trailing twelve months is around 7.53%, while MACGX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MACGX Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 52.53% | 9.95% | 15.34% | 29.46% | 48.48% | 75.72% | 14.05% |
TIEUX Morgan Stanley Pathway Funds International Equity Fund | 7.53% | 8.08% | 11.60% | 2.05% | 4.95% | 9.09% | 1.75% | 2.55% | 2.20% | 1.64% | 2.76% | 1.74% |
Frequently Asked Questions
TIEUX and MACGX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MACGX has higher volatility (6.84%) compared to TIEUX (3.83%). In terms of maximum drawdown, TIEUX dropped -60.57% vs MACGX's -77.61%.
TIEUX currently has the higher Sharpe Ratio (0.98 vs -0.38), 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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