- ISIN
- US61769L7001
- Issuer
- Morgan Stanley
- Inception Date
- Apr 19, 1994
- Category
- Emerging Markets Diversified
- Min. Investment
- $1,000
- Distribution Policy
- Distributing
- Asset Class
- Multi-Asset
- Asset Class Size
- Large-Cap
- Asset Class Style
- Blend
Share Price Chart
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Performance
TEMUX Performance Chart
Morgan Stanley Pathway Funds Emerging Markets Equity Fund (TEMUX) is up 26.6% since the beginning of the year. TEMUX is currently trading at $22 per share. Investors who bought $1,000 worth of TEMUX shares 5 years ago would now be looking at an investment worth $1,410.
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Returns By Period
Morgan Stanley Pathway Funds Emerging Markets Equity Fund (TEMUX) has returned 26.60% so far this year and 50.41% over the past 12 months. Over the last ten years, TEMUX has returned 9.32% per year, falling short of the S&P 500 Index benchmark, which averaged 13.75% annually.
Morgan Stanley Pathway Funds Emerging Markets Equity Fund
- 1D
- 2.40%
- 1M
- 6.33%
- YTD
- 26.60%
- 6M
- 31.01%
- 1Y
- 50.41%
- 3Y*
- 21.63%
- 5Y*
- 7.11%
- 10Y*
- 9.32%
Benchmark (S&P 500 Index)
- 1D
- -0.57%
- 1M
- 1.39%
- YTD
- 9.73%
- 6M
- 10.46%
- 1Y
- 24.50%
- 3Y*
- 19.43%
- 5Y*
- 12.21%
- 10Y*
- 13.75%
TEMUX Monthly Returns History
Based on dividend-adjusted daily data since Jan 3, 1995, TEMUX's average daily return is +0.03%, while the average monthly return is +0.67%. At this rate, an investment would double in approximately 8.7 years.
Historically, 58% of months were positive and 42% were negative. The best month was Dec 1999 with a return of +16.2%, while the worst month was Aug 1998 at -30.2%. The longest winning streak lasted 12 consecutive months, and the longest losing streak was 6 months.
On a daily basis, TEMUX closed higher 51% of trading days. The best single day was Oct 28, 2008 with a return of +13.1%, while the worst single day was Oct 15, 2008 at -12.0%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 8.39% | 5.42% | -10.19% | 12.68% | 8.19% | 1.19% | 26.60% | ||||||
| 2025 | 4.50% | -2.15% | 1.25% | 1.38% | 5.15% | 4.83% | 0.71% | 2.51% | 6.60% | 5.07% | -2.02% | 2.76% | 34.68% |
| 2024 | -4.50% | 4.63% | 2.56% | -0.38% | 1.59% | 3.06% | 0.29% | 1.45% | 5.20% | -3.93% | -2.89% | -1.20% | 5.47% |
| 2023 | 9.22% | -6.77% | 2.85% | -0.71% | -1.76% | 4.55% | 5.21% | -6.13% | -3.31% | -3.58% | 7.52% | 3.91% | 9.87% |
| 2022 | -1.21% | -6.52% | -2.76% | -6.89% | 1.30% | -6.85% | 0.97% | -0.96% | -11.32% | -0.82% | 15.90% | -2.70% | -21.75% |
| 2021 | 2.53% | 0.80% | -0.74% | 1.55% | 1.58% | 1.17% | -5.72% | 1.75% | -4.07% | 1.67% | -4.59% | 0.95% | -3.50% |
Benchmark Metrics
Morgan Stanley Pathway Funds Emerging Markets Equity Fund has an annualized alpha of 0.00%, beta of 0.72, and R2 of 0.44 versus S&P 500 Index. Calculated based on daily prices since January 03, 1995.
- This fund participated in 111.93% of S&P 500 Index downside but only 96.81% of its upside - more exposed to losses than it benefited from rallies.
- R2 of 0.44 means the benchmark explains less than half of this fund's behavior - treat beta with caution or consider switching to a more representative benchmark.
- Alpha
- 0.00%
- Beta
- 0.72
- R²
- 0.44
- Upside Capture
- 96.81%
- Downside Capture
- 111.93%
Expense Ratio
TEMUX has an expense ratio of 0.81%, placing it in the medium range.
Return for Risk
Risk / Return Rank
TEMUX ranks 88 for risk / return — in the top 88% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for Morgan Stanley Pathway Funds Emerging Markets Equity Fund (TEMUX) 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.
| TEMUX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.07 | ||
| Sortino ratioReturn per unit of downside risk | +1.10 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.36 | +0.19 |
| Calmar ratioReturn relative to maximum drawdown | 4.39 | 2.71 | +1.68 |
| Martin ratioReturn relative to average drawdown | 15.92 | 12.15 | +3.77 |
Dividends
Dividend History
Morgan Stanley Pathway Funds Emerging Markets Equity Fund provided a 1.92% dividend yield over the last twelve months, with an annual payout of $0.43 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.43 | $0.43 | $0.28 | $0.31 | $0.23 | $0.70 | $0.33 | $0.28 | $0.22 | $0.20 | $0.13 | $0.15 |
Dividend yield | 1.92% | 2.43% | 2.09% | 2.41% | 1.92% | 4.47% | 1.96% | 1.81% | 1.67% | 1.26% | 1.10% | 1.44% |
Monthly Dividends
The table displays the monthly dividend distributions for Morgan Stanley Pathway Funds Emerging Markets Equity 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 | $0.43 | $0.43 |
| 2024 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.28 | $0.28 |
| 2023 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.31 | $0.31 |
| 2022 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.23 | $0.23 |
| 2021 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.70 | $0.70 |
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 Funds Emerging Markets Equity 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 Morgan Stanley Pathway Funds Emerging Markets Equity Fund was 68.20%, occurring on Nov 20, 2008. Recovery took 2293 trading sessions.
The current Morgan Stanley Pathway Funds Emerging Markets Equity Fund drawdown is 1.38%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Financial crisis2007–2009 | -68.20%Nov 2008 | 1y 20d | 9y 1mo | 10y 2moNov 2007 - Jan 2018 |
1998 bear market1998 | -57.68%Oct 1998 | 1y 2mo | 6y 4mo | 7y 6moAug 1997 - Feb 2005 |
Bear market2022 | -40.17%Oct 2022 | 1y 8mo | 2y 10mo | 4y 7moFeb 2021 - Sep 2025 |
COVID crash2020 | -39.31%Mar 2020 | 2y 1mo | 8mo 29d | 2y 10moJan 2018 - Dec 2020 |
2006 bear market2006 | -24.74%Jun 2006 | 1mo 4d | 5mo 24d | 6mo 28dMay 2006 - Dec 2006 |
Drawdown Indicators
| TEMUX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -68.20% | -56.78% | -11.42% |
Max Drawdown (1Y)Largest decline over 1 year | -13.10% | -9.10% | -4.00% |
Max Drawdown (3Y)Largest decline over 3 years | -16.86% | -18.90% | +2.04% |
Max Drawdown (5Y)Largest decline over 5 years | -38.40% | -25.43% | -12.97% |
Max Drawdown (10Y)Largest decline over 10 years | -40.17% | -33.92% | -6.25% |
Current DrawdownCurrent decline from peak | -1.38% | -1.29% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -21.82% | -10.72% | -11.10% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 3.42% | 2.02% | +1.40% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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