USGDX vs. MGKQX
USGDX (Morgan Stanley U.S. Government Securities Trust) and MGKQX (Morgan Stanley Global Permanence Portfolio) are both mutual funds - USGDX is a Intermediate Core Bond fund managed by Morgan Stanley, while MGKQX is a Global Equities fund managed by Morgan Stanley. Over the past 5 years, USGDX returned -2.11%/yr vs 3.06%/yr for MGKQX. Their 0.14 correlation means their historical movements had little consistent relationship. USGDX charges 0.52%/yr vs 0.95%/yr for MGKQX.
Performance
USGDX vs. MGKQX - Performance Comparison
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Returns By Period
In the year-to-date period, USGDX achieves a -4.71% return, which is significantly lower than MGKQX's -0.25% return.
USGDX
- 1D
- -1.20%
- 1M
- -3.54%
- 6M
- -4.30%
- YTD
- -4.71%
- 1Y
- -0.16%
- 3Y*
- 2.50%
- 5Y*
- -2.11%
- 10Y*
- 0.27%
- ALL TIME*
- 2.82%
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 |
USGDX vs. MGKQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
USGDX Morgan Stanley U.S. Government Securities Trust | -4.71% | 13.54% | -6.80% | 4.64% | -13.25% | -2.18% | 5.79% | 4.88% |
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 USGDX and MGKQX is 0.35, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.35 |
Correlation (3Y) Balances recent behavior with more history. | 0.24 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.22 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2019 | 0.14 |
Over the past year, USGDX and MGKQX have become more correlated (0.35) than their long-term average of 0.14, meaning their price movements have been converging.
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Return for Risk
USGDX vs. MGKQX — Risk / Return Rank
USGDX
MGKQX
USGDX vs. MGKQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley U.S. Government Securities Trust (USGDX) 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.
| USGDX | MGKQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.86 | ||
| Sortino ratioReturn per unit of downside risk | +1.01 | ||
| Omega ratioGain probability vs. loss probability | 1.05 | 0.89 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 0.26 | -0.63 | +0.88 |
| Martin ratioReturn relative to average drawdown | 0.64 | -1.01 | +1.64 |
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Drawdowns
USGDX vs. MGKQX - Drawdown Comparison
The maximum USGDX drawdown since its inception was -30.33%, smaller than the maximum MGKQX drawdown of -33.07%. Use the drawdown chart below to compare losses from any high point for USGDX and MGKQX.
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Drawdown Indicators
| USGDX | MGKQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.33% | -33.07% | +2.74% |
Max Drawdown (1Y)Largest decline over 1 year | -8.00% | -25.97% | +17.97% |
Max Drawdown (3Y)Largest decline over 3 years | -17.33% | -25.97% | +8.64% |
Max Drawdown (5Y)Largest decline over 5 years | -29.65% | -30.96% | +1.31% |
Max Drawdown (10Y)Largest decline over 10 years | -30.33% | — | — |
Current DrawdownCurrent decline from peak | -11.00% | -20.76% | +9.76% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -8.81% | +5.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.25% | 16.05% | -12.80% |
Volatility
USGDX vs. MGKQX - Volatility Comparison
The current volatility for Morgan Stanley U.S. Government Securities Trust (USGDX) is 2.97%, while Morgan Stanley Global Permanence Portfolio (MGKQX) has a volatility of 4.57%. This indicates that USGDX experiences smaller price fluctuations and is considered to be less risky 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
| USGDX | MGKQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.97% | 4.57% | -1.60% |
Volatility (6M)Calculated over the trailing 6-month period | 6.99% | 15.03% | -8.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.65% | 26.22% | -17.57% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 12.30% | 23.95% | -11.65% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 8.98% | 23.66% | -14.68% |
USGDX vs. MGKQX - Expense Ratio Comparison
USGDX has a 0.52% expense ratio, which is lower than MGKQX's 0.95% expense ratio.
Dividends
USGDX vs. MGKQX - Dividend Comparison
USGDX's dividend yield for the trailing twelve months is around 4.88%, 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% |
USGDX Morgan Stanley U.S. Government Securities Trust | 4.88% | 4.73% | 5.20% | 3.09% | 2.51% | 2.18% | 2.79% | 3.67% | 3.13% | 3.11% | 3.13% | 2.63% |
Frequently Asked Questions
USGDX and MGKQX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MGKQX has higher volatility (4.57%) compared to USGDX (2.97%). In terms of maximum drawdown, USGDX dropped -30.33% vs MGKQX's -33.07%.
USGDX currently has the higher Sharpe Ratio (0.24 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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