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Morgan Stanley Pathway Funds High Yield Fund (THYUX) Sharpe Ratio: 0.78

Mutual Fund · Currency in USD · Last updated Aug 1, 2026

The fund will invest at least 80% of its net assets in USD-denominated high yield fixed income securities of corporate issuers rated below investment grade by two or more nationally recognized statistical rating organizations, or, if unrated, of equivalent quality as determined by the Sub-advisers. It may invest up to 20% of its assets in securities not denominated in USD, including securities of issuers located in emerging market foreign countries. The fund also may invest up to 20% of its assets in equity and equity-related securities.

THYUX's Sharpe Ratio of 0.78 indicates that for each unit of volatility, it generates 0.78 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Aug 1, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets. For how to read this number and when it can mislead, see Sharpe Ratio Explained.

THYUX Sharpe Ratio Rank

THYUX Sharpe Ratio Rank: 19.219
Concerning

THYUX ranks above 19.2% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating weak returns relative to total risk taken. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Weak risk-adjusted returns relative to category peers
  • Evaluate whether this holding aligns with your risk-return objectives
  • Consider reducing exposure or re-evaluating position size
  • Review higher-ranked alternatives in the same category

THYUX Sharpe Ratio Market Positioning

The chart shows THYUX's Sharpe Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 0.93 or lower
  • Yellow zone (middle 50%): 0.93 to 1.81
  • Green zone (top 25%): 1.81 or higher
  • Top 1%: 3.73+
  • Median: 1.45 — half of all investments score higher

How it compares to other similar mutual funds

The table compares Morgan Stanley Pathway Funds High Yield Fund's Sharpe Ratio with other mutual funds in the High Yield Bonds category across multiple time periods, showing how THYUX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Aug 1, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
CCLFXCliffwater Corporate Lending Fund Class I Shares8.19
XILSXPioneer ILS Interval Fund7.88
RPHIXRiverPark Short Term High Yield Fund4.94
ICMUXIntrepid Income Fund3.34
CWFIXChartwell Short Duration High Yield Fund3.07
PSHNXPenn Capital Short Duration High Income Fund2.88
SHOYXAmerican Beacon SiM High Yield Opportunities Fund Class Y2.82
SCFIXShenkman Capital Short Duration High Income Fund2.80
SHYPXAmerican Beacon SiM High Yld Opps Fund2.73
PYHRXPayden High Income Fund2.61
THYUXMorgan Stanley Pathway Funds High Yield Fund0.78
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Historical Sharpe Ratio

The chart shows THYUX's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when THYUX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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