Morgan Stanley Pathway Funds High Yield Fund (THYUX)

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The chart shows the growth of an initial investment of $10,000 in Morgan Stanley Pathway Funds High Yield Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.

Morgan Stanley Pathway Funds High Yield Fund (THYUX) has returned -1.20% so far this year and 3.82% over the past 12 months. Over the last ten years, THYUX has returned 4.63% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.

Based on dividend-adjusted daily data since Jan 4, 1999, THYUX's average daily return is +0.02%, while the average monthly return is +0.37%. At this rate, your investment would double in approximately 15.6 years.

Historically, 65% of months were positive and 35% were negative. The best month was Apr 2009 with a return of +10.1%, while the worst month was Oct 2008 at -16.0%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 7 months.

On a daily basis, THYUX closed higher 32% of trading days. The best single day was Mar 26, 2020 with a return of +3.2%, while the worst single day was Oct 10, 2008 at -4.4%.

Morgan Stanley Pathway Funds High Yield Fund has an annualized alpha of 3.57%, beta of 0.09, and R² of 0.13 versus S&P 500 Index. Calculated based on daily prices since January 05, 1999.

• This fund participated in 37.15% of S&P 500 Index downside but only 36.71% of its upside — more exposed to losses than it benefited from rallies.
• Beta of 0.09 may look defensive, but with R² of 0.13 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 0.13 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.

THYUX has an expense ratio of 0.76%, placing it in the medium range.

THYUX ranks 23 for risk / return — below 23% of mutual funds on our site. The returns aren't fully compensating for the risk involved. This isn't necessarily a dealbreaker, but factor it into your decision — especially if you're risk-averse.

The table below present risk-adjusted performance metrics for Morgan Stanley Pathway Funds High Yield Fund (THYUX) and compare them to a chosen benchmark (S&P 500 Index).

Morgan Stanley Pathway Funds High Yield Fund provided a 3.82% dividend yield over the last twelve months, with an annual payout of $0.12 per share.

The table displays the monthly dividend distributions for Morgan Stanley Pathway Funds High Yield Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

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.

The table below displays the maximum drawdowns of the Morgan Stanley Pathway Funds High Yield 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 High Yield Fund was 35.28%, occurring on Dec 12, 2008. Recovery took 191 trading sessions.

The current Morgan Stanley Pathway Funds High Yield Fund drawdown is 2.11%.

The chart below shows the rolling one-month volatility.