Fund Evaluator:
Morgan Stanley Intl Resilience I (MSDKX)
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Best Performing in Foreign Large Growth Over the Last Year
| 27.0% | WCM Focused International Equity Inv (WLIVX) |
| 25.4% | Saturna International Z (SIFZX) |
| 25.1% | Saturna International (SSIFX) |
| 24.2% | American Funds EUPAC F-3 (FEUPX) |
| 23.2% | Fidelity Diversified International (FDIVX) |
Fund Details
Morgan Stanley Intl Resilience I Overview
Morgan Stanley Intl Resilience I (MSDKX) is an actively managed International Equity Foreign Large Growth fund. Morgan Stanley launched the fund in 2022.
The investment seeks long-term capital appreciation. The Adviser and the fund’s Sub-Adviser, Morgan Stanley Investment Management Limited, seek to invest primarily in high quality non-U.S. companies that they believe can generate sustainably high returns on operating capital with dominant market positions due to powerful, hard-to-replicate intangible assets - notably brands, networks, licenses and patents - and pricing power, resulting in high gross margins. It is non-diversified.
About Morgan Stanley Intl Resilience I (MSDKX)
There are 6 members of the management team with an average tenure of 2.92 years: Bruno Paulson (2022), Alex Gabriele (2022), Richard Perrott (2022), Isabelle Mast (2025), Anton Kryachok (2025), William Lock (2022). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI ACWI Ex USA NR USD index with a weighting of 100%. Morgan Stanley Intl Resilience I has 41 securities in its portfolio. The top 10 holdings constitute 43.7% of the fund’s assets. The fund meets the SEC requirement of being classified as a nondiversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Morgan Stanley Intl Resilience I is part of the Equity global asset class and is within the International Equity fund group. Morgan Stanley Intl Resilience I has 79.0% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 19.1%. There is 79.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Morgan Stanley Intl Resilience I has 1.9% of the portfolio in cash.
Assets Under Management
The fund has $2 million in total assets, which is below the $1 billion average for the Foreign Large Growth category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
MSDKX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Morgan Stanley Intl Resilience I expense ratio is high compared to funds in the Foreign Large Growth category. Morgan Stanley Intl Resilience I has an expense ratio of 0.85%, which is 18% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Morgan Stanley Intl Resilience I has a portfolio turnover rate of 57%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 51% for the Foreign Large Growth category.
Recently, in the month of July 2026, Morgan Stanley Intl Resilience I returned 0.6%, which earned it a grade of A, as the Foreign Large Growth category had an average return of -2.7%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Morgan Stanley Intl Resilience I has a trailing yield of 0.44%, which is below the 0.95% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Morgan Stanley Intl Resilience I Grades
Year to date, the fund has returned 4.3%, 2.2 percentage points worse than the category, which translates into a grade of D. The fund has returned 4.9% over the past year (grade of F) and 6.7% over the past three years (grade of F).
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MSDKX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MSDKX Return (NAV) | 0.6% | 1.6% | 4.9% | 6.7% | na | na |
| MSDKX Grade | A | D | F | F | na | na |
| +/- Category | 3.3% | -1.0% | -8.2% | -4.0% | na | na |
| Foreign Large Growth Avg | -2.7% | 2.6% | 13.1% | 10.7% | 3.2% | 8.2% |
| MSDKX Tax Cost Ratio | na | na | 1.0% | 0.9% | na | na |
MSDKX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MSDKX Return (NAV) | 4.3% | 12.8% | 3.7% | 16.5% | na | na | na | na | na | na | na |
| MSDKX Grade | D | F | D | C | na | na | na | na | na | na | na |
| +/- Category | -2.2% | -7.2% | -1.7% | -0.1% | na | na | na | na | na | na | na |
| Foreign Large Growth Avg | 6.5% | 20.0% | 5.3% | 16.7% | -25.2% | 8.1% | 25.5% | 29.3% | -13.6% | 32.1% | -1.6% |
| Risk Measures | |
| Standard Deviation: | 13.7% |
| Total Risk Index: | 1.11 - Above Average |
| Category Risk Index: | 0.89 - Below Average |
| Category Risk Grade: | B (22% Rank) |
| Beta: | 0.87 |
| R-Squared: | 78% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 0.4% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $2 Mil |
| Fund Total Assets: | $ 2 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 57% |
Management Team
| Number of Managers: 6 | |||
| Longest Tenure: 4.0 years | |||
| Average Tenure: 2.9 years | |||
| Managers (Year): Paulson Bruno (2022), Gabriele Alex (2022), Perrott Richard (2022), Lock William (2022), Mast Isabelle (2025), Kryachok Anton (2025) | |||
Portfolio Composition (as of 3/31/26)
| # of Holdings: | 41 |
| % in Top 10 Holdings: | 43.7% |
| Fund is Non-Diversified: | Yes |
| % in Foreign Issues: | 79.0% |
Portfolio Allocation |
|
| Domestic Stock: | 19.1% |
| Foreign Stock: | 79.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.9% |
Purchase Information
| Fund Family: | Morgan Stanley |
| Phone Number: | 800-869-6397 |
| Website: | www.morganstanley.com/im |
| Status: | Open |
| Inception Date: | July 29, 2022 |
| Min. Initial Purchase: | $1,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.85% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.03% |
| Share Class: | Morgan Stanley Intl Resilience R6 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
