- Issuer
- Morgan Stanley
- Inception Date
- Dec 9, 2024
- Category
- Small Cap Blend Equities
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Distribution Policy
- Distributing
- Asset Class
- Equity
- Asset Class Size
- Small-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
MSSM Performance Chart
Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) is up 20.2% since the beginning of the year. MSSM is currently trading at $61 per share.
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Returns By Period
Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) has returned 20.23% so far this year and 38.44% over the past 12 months.
Morgan Stanley Pathway Small-Mid Cap Equity ETF
- 1D
- 0.58%
- 1M
- 4.03%
- YTD
- 20.23%
- 6M
- 17.55%
- 1Y
- 38.44%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
MSSM Monthly Returns History
Based on dividend-adjusted daily data since Dec 9, 2024, MSSM's average daily return is +0.07%, while the average monthly return is +1.26%. At this rate, an investment would double in approximately 4.6 years.
Historically, 74% of months were positive and 26% were negative. The best month was Apr 2026 with a return of +11.1%, while the worst month was Dec 2024 at -7.0%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 3 months.
On a daily basis, MSSM closed higher 53% of trading days. The best single day was Apr 9, 2025 with a return of +8.6%, while the worst single day was Apr 3, 2025 at -6.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 5.47% | 2.32% | -5.48% | 11.06% | 3.74% | 2.29% | 20.23% | ||||||
| 2025 | 3.45% | -4.65% | -6.66% | -2.55% | 5.63% | 4.93% | 2.08% | 4.86% | 1.87% | 1.24% | 1.28% | 0.12% | 11.33% |
| 2024 | -7.04% | -7.04% |
Benchmark Metrics
Morgan Stanley Pathway Small-Mid Cap Equity ETF has an annualized alpha of 0.39%, beta of 1.08, and R2 of 0.80 versus S&P 500 Index. Calculated based on daily prices since December 09, 2024.
- This ETF captured 114.97% of S&P 500 Index gains and 114.52% of its losses - amplifying both gains and losses, but participating more in upside than downside.
- With beta of 1.08 and R2 of 0.80, this ETF moves broadly in line with S&P 500 Index - much of its variation is explained by market exposure rather than independent behavior.
- Alpha
- 0.39%
- Beta
- 1.08
- R²
- 0.80
- Upside Capture
- 114.97%
- Downside Capture
- 114.52%
Expense Ratio
MSSM has an expense ratio of 0.62%, placing it in the medium range.
Return for Risk
Risk / Return Rank
MSSM ranks 72 for risk / return — better than 72% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Morgan Stanley Pathway Small-Mid Cap Equity ETF (MSSM) and compare them to S&P 500 Index.
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.
| MSSM | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | +0.25 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 1.37 | 0.00 |
| Calmar ratioReturn relative to maximum drawdown | 4.07 | 2.78 | +1.28 |
| Martin ratioReturn relative to average drawdown | 15.58 | 12.44 | +3.14 |
Dividends
Dividend History
Morgan Stanley Pathway Small-Mid Cap Equity ETF provided a 2.62% dividend yield over the last twelve months, with an annual payout of $1.59 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $1.59 | $1.59 |
Dividend yield | 2.62% | 3.15% |
Monthly Dividends
The table displays the monthly dividend distributions for Morgan Stanley Pathway Small-Mid Cap Equity ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | ||||||
| 2025 | $1.59 | $1.59 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the Morgan Stanley Pathway Small-Mid Cap Equity ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the Morgan Stanley Pathway Small-Mid Cap Equity ETF was 25.16%, occurring on Apr 8, 2025. Recovery took 103 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2025 selloff2025 | -25.16%Apr 2025 | 4mo | 5mo | 9moDec 2024 - Sep 2025 |
2026 pullback2026 | -9.50%Mar 2026 | 1mo 17d | 15d | 2mo 2dFeb 2026 - Apr 2026 |
2025 pullback2025 | -7.11%Nov 2025 | 23d | 14d | 1mo 7dOct 2025 - Dec 2025 |
2026 pullback2026 | -4.35%May 2026 | 12d | 7d | 19dMay 2026 - May 2026 |
2025 pullback2025 | -3.84%Oct 2025 | 3d | 14d | 17dOct 2025 - Oct 2025 |
Drawdown Indicators
| MSSM | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.16% | -56.78% | +31.62% |
Max Drawdown (1Y)Largest decline over 1 year | -9.50% | -9.10% | -0.40% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -5.11% | -10.71% | +5.60% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.47% | 2.03% | +0.44% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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