- ISIN
- US6176978830
- Issuer
- Morningstar
- Inception Date
- Nov 1, 2018
- Category
- Multistrategy
- Min. Investment
- $0
- Distribution Policy
- Distributing
- Asset Class
- Alternatives
Share Price Chart
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Performance
MSTVX Performance Chart
Morningstar Alternatives Fund (MSTVX) is up 1.2% since the beginning of the year. MSTVX is currently trading at $11 per share. Investors who bought $1,000 worth of MSTVX shares 5 years ago would now be looking at an investment worth $1,206.
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Returns By Period
Morningstar Alternatives Fund (MSTVX) has returned 1.22% so far this year and 4.48% over the past 12 months.
Morningstar Alternatives Fund
- 1D
- -0.09%
- 1M
- 0.47%
- YTD
- 1.22%
- 6M
- 1.34%
- 1Y
- 4.48%
- 3Y*
- 6.80%
- 5Y*
- 3.81%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -1.44%
- 1M
- -1.45%
- YTD
- 7.60%
- 6M
- 6.59%
- 1Y
- 22.24%
- 3Y*
- 19.20%
- 5Y*
- 11.54%
- 10Y*
- 13.71%
MSTVX Monthly Returns History
Based on dividend-adjusted daily data since Nov 5, 2018, MSTVX's average daily return is +0.02%, while the average monthly return is +0.34%. At this rate, an investment would double in approximately 17.0 years.
Historically, 70% of months were positive and 30% were negative. The best month was Apr 2020 with a return of +2.7%, while the worst month was Mar 2020 at -5.3%. The longest winning streak lasted 8 consecutive months, and the longest losing streak was 4 months.
On a daily basis, MSTVX closed higher 42% of trading days. The best single day was Apr 14, 2025 with a return of +2.1%, while the worst single day was Mar 16, 2020 at -2.6%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.66% | 1.59% | -1.47% | 0.00% | 0.09% | 0.37% | 1.22% | ||||||
| 2025 | 1.74% | 0.57% | 0.09% | 0.00% | 0.28% | 0.75% | -0.00% | 0.66% | 0.37% | 0.28% | 0.65% | 0.85% | 6.42% |
| 2024 | 0.50% | 0.10% | 1.59% | -0.88% | 0.59% | 0.49% | 1.46% | 1.54% | 0.85% | -0.28% | 0.85% | -0.59% | 6.37% |
| 2023 | 1.13% | -0.31% | -0.41% | 0.20% | -0.72% | 1.13% | 1.22% | 0.70% | 0.20% | -0.70% | 2.31% | 1.93% | 6.86% |
| 2022 | -0.77% | -0.78% | -0.00% | -0.98% | 0.00% | -1.78% | 1.51% | -0.10% | -1.79% | 1.11% | 0.70% | 0.21% | -2.69% |
| 2021 | 0.86% | -0.00% | 0.76% | 0.75% | 0.56% | 0.19% | -0.37% | 0.28% | -0.19% | 0.46% | -0.19% | 1.02% | 4.20% |
Benchmark Metrics
Morningstar Alternatives Fund has an annualized alpha of 3.00%, beta of 0.08, and R2 of 0.28 versus S&P 500 Index. Calculated based on daily prices since November 05, 2018.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (14.00%) than losses (8.94%) - typical of diversified or defensive assets.
- Beta of 0.08 may look defensive, but with R2 of 0.28 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.28 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 3.00%
- Beta
- 0.08
- R²
- 0.28
- Upside Capture
- 14.00%
- Downside Capture
- 8.94%
Expense Ratio
MSTVX has a high expense ratio of 1.15%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
MSTVX ranks 75 for risk / return — better than 75% of mutual funds 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 Morningstar Alternatives Fund (MSTVX) 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.
| MSTVX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.78 | ||
| Sortino ratioReturn per unit of downside risk | +1.64 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.32 | +0.20 |
| Calmar ratioReturn relative to maximum drawdown | 3.22 | 2.46 | +0.77 |
| Martin ratioReturn relative to average drawdown | 8.18 | 10.92 | -2.74 |
Dividends
Dividend History
Morningstar Alternatives Fund provided a 3.37% dividend yield over the last twelve months, with an annual payout of $0.36 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.36 | $0.36 | $0.32 | $0.39 | $0.38 | $0.52 | $0.30 | $0.18 | $0.03 |
Dividend yield | 3.37% | 3.41% | 3.07% | 3.86% | 3.92% | 4.99% | 2.91% | 1.74% | 0.25% |
Monthly Dividends
The table displays the monthly dividend distributions for Morningstar Alternatives Fund. 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 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.36 | $0.36 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.32 | $0.32 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.39 | $0.39 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.38 | $0.38 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.52 | $0.52 |
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 Morningstar Alternatives Fund. 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 Morningstar Alternatives Fund was 8.02%, occurring on Mar 18, 2020. Recovery took 86 trading sessions.
The current Morningstar Alternatives Fund drawdown is 1.01%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
COVID crash2020 | -8.02%Mar 2020 | 26d | 4mo 5d | 5mo 1dFeb 2020 - Jul 2020 |
Bear market2022 | -5.89%Sep 2022 | 9mo 3d | 1y 1mo | 1y 10moDec 2021 - Nov 2023 |
2025 selloff2025 | -3.31%Apr 2025 | 1mo 8d | 14d | 1mo 22dMar 2025 - Apr 2025 |
2026 pullback2026 | -1.84%Mar 2026 | 24d | — | 3mo 24dMar 2026 - now |
2024 pullback2024 | -1.59%Dec 2024 | 11d | 1mo 2d | 1mo 13dDec 2024 - Jan 2025 |
Drawdown Indicators
| MSTVX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.02% | -56.78% | +48.76% |
Max Drawdown (1Y)Largest decline over 1 year | -1.84% | -9.10% | +7.26% |
Max Drawdown (3Y)Largest decline over 3 years | -3.31% | -18.90% | +15.59% |
Max Drawdown (5Y)Largest decline over 5 years | -5.89% | -25.43% | +19.54% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -1.01% | -3.21% | +2.20% |
Average DrawdownAverage peak-to-trough decline | -1.17% | -10.71% | +9.54% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.68% | 2.04% | -1.36% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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