Morgan Stanley Pathway Funds Municipal Bond Fund (TMUUX)
The fund will invest, under normal market conditions, at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in tax exempt general obligation, revenue and private activity bonds and notes, which are issued by or on behalf of states, territories or possessions of the U.S. and the District of Columbia and their political subdivisions, agencies and instrumentalities (including Puerto Rico, the Virgin Islands and Guam).
Fund Info
US61769L2051
Nov 17, 1991
$1,000
Expense Ratio
TMUUX has an expense ratio of 0.71%, placing it in the medium range.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
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Returns By Period
Morgan Stanley Pathway Funds Municipal Bond Fund (TMUUX) returned -1.66% year-to-date (YTD) and 0.90% over the past 12 months. Over the past 10 years, TMUUX returned 1.57% annually, underperforming the S&P 500 benchmark at 10.85%.
TMUUX
-1.66%
-0.36%
-2.87%
0.90%
1.01%
0.25%
1.57%
^GSPC (Benchmark)
0.51%
6.15%
-2.00%
12.92%
12.68%
14.19%
10.85%
Monthly Returns
The table below presents the monthly returns of TMUUX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.38% | 0.94% | -1.84% | -0.76% | -0.36% | -1.66% | |||||||
| 2024 | 0.02% | -0.00% | 0.13% | -1.13% | 0.04% | 1.32% | 0.72% | 0.64% | 1.08% | -1.49% | 1.43% | -1.23% | 1.48% |
| 2023 | 3.40% | -2.33% | 1.65% | 0.11% | -0.82% | 0.92% | 0.11% | -1.18% | -2.86% | -1.34% | 6.22% | 2.36% | 6.03% |
| 2022 | -2.49% | -0.40% | -2.89% | -2.97% | 2.06% | -2.64% | 3.37% | -2.86% | -4.23% | -1.11% | 5.56% | -0.35% | -9.05% |
| 2021 | 0.48% | -1.10% | 0.47% | 0.66% | 0.36% | 0.23% | 0.56% | -0.18% | -0.71% | -0.18% | 0.66% | -0.02% | 1.23% |
| 2020 | 1.34% | 0.59% | -3.83% | -1.11% | 2.81% | 1.12% | 1.32% | -0.16% | 0.05% | -0.16% | 1.11% | 0.58% | 3.57% |
| 2019 | 0.87% | 0.50% | 1.63% | 0.27% | 1.27% | 0.41% | 0.73% | 1.12% | -0.54% | -0.01% | 0.19% | 0.39% | 7.03% |
| 2018 | -1.40% | -0.57% | 0.45% | -0.44% | 1.11% | -0.00% | 0.12% | 0.01% | -0.66% | -0.90% | 1.46% | 1.41% | 0.55% |
| 2017 | 0.47% | 0.33% | 0.25% | 0.58% | 1.56% | -0.29% | 0.56% | 0.77% | -0.64% | 0.32% | -0.44% | 1.31% | 4.86% |
| 2016 | 0.89% | 0.03% | 0.57% | 0.55% | 0.24% | 1.95% | -0.25% | 0.19% | -0.59% | -0.88% | -3.97% | 1.13% | -0.27% |
| 2015 | 1.60% | -1.17% | 0.37% | -0.51% | -0.19% | -0.29% | 0.87% | 0.09% | 0.55% | 0.25% | 0.34% | 0.68% | 2.59% |
| 2014 | 1.86% | 0.86% | -0.04% | 1.19% | 1.30% | -0.14% | 0.25% | 1.11% | -0.05% | 0.88% | 0.16% | 0.57% | 8.22% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of TMUUX is 15, meaning it’s performing worse than 85% of other mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for Morgan Stanley Pathway Funds Municipal Bond Fund (TMUUX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
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Dividends
Dividend History
Morgan Stanley Pathway Funds Municipal Bond Fund provided a 3.25% dividend yield over the last twelve months, with an annual payout of $0.27 per share.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.27 | $0.27 | $0.27 | $0.20 | $0.19 | $0.24 | $0.28 | $0.27 | $0.26 | $0.53 | $0.30 | $0.35 |
Dividend yield | 3.25% | 3.12% | 3.10% | 2.39% | 1.97% | 2.54% | 2.91% | 2.93% | 2.78% | 5.74% | 3.07% | 3.59% |
Monthly Dividends
The table displays the monthly dividend distributions for Morgan Stanley Pathway Funds Municipal Bond 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.02 | $0.02 | $0.02 | $0.03 | $0.00 | $0.09 | |||||||
| 2024 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.27 |
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.06 | $0.27 |
| 2022 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.20 |
| 2021 | $0.02 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.04 | $0.19 |
| 2020 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.07 | $0.24 |
| 2019 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.08 | $0.28 |
| 2018 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.05 | $0.27 |
| 2017 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.26 |
| 2016 | $0.03 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.27 | $0.53 |
| 2015 | $0.03 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.05 | $0.30 |
| 2014 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.08 | $0.35 |
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 Municipal Bond 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 Municipal Bond Fund was 16.09%, occurring on Nov 21, 1994. Recovery took 136 trading sessions.
The current Morgan Stanley Pathway Funds Municipal Bond Fund drawdown is 4.23%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -16.09% | Feb 1, 1994 | 210 | Nov 21, 1994 | 136 | May 30, 1995 | 346 |
| -14.47% | Jul 21, 2021 | 320 | Oct 25, 2022 | — | — | — |
| -13.13% | Jan 24, 2008 | 184 | Oct 15, 2008 | 82 | Feb 12, 2009 | 266 |
| -9.88% | Feb 28, 2020 | 16 | Mar 20, 2020 | 92 | Jul 31, 2020 | 108 |
| -8.45% | Feb 1, 1999 | 192 | Oct 26, 1999 | 196 | Aug 3, 2000 | 388 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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