ARBIX vs. TALTX

Last updated Jun 4, 2026

ARBIX (Absolute Convertible Arbitrage Fund Institutional Shares) and TALTX (Morgan Stanley Pathway Funds Alternative Strategies Fund) are both Multistrategy funds. Their correlation of 0.87 suggests significant overlap in exposure. ARBIX charges 1.47%/yr vs 0.59%/yr for TALTX.

Performance

ARBIX vs. TALTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX) and Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

ARBIX

• 1D: 0.08%
• 1M: 1.26%
• YTD: 4.69%
• 6M: 5.21%
• 1Y: 9.46%
• 3Y*: 7.82%
• 5Y*: 5.36%
• 10Y*: —

TALTX

• 1D: 0.18%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

ARBIX vs. TALTX - Yearly Performance Comparison

	2026 (YTD)
ARBIX Absolute Convertible Arbitrage Fund Institutional Shares	0.33%
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	0.18%

Correlation

The correlation between ARBIX and TALTX is 0.87, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	0.87

Return for Risk

ARBIX vs. TALTX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

ARBIX

ARBIX Risk / Return Rank: 100
ARBIX Sharpe Ratio Rank: 100
ARBIX Sortino Ratio Rank: 100
ARBIX Omega Ratio Rank: 99
ARBIX Calmar Ratio Rank: 100
ARBIX Martin Ratio Rank: 100

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

ARBIX vs. TALTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Absolute Convertible Arbitrage Fund Institutional Shares (ARBIX) and Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	ARBIX	TALTX	Difference
Sharpe ratio Return per unit of total volatility	7.84	—	—
Sortino ratio Return per unit of downside risk	14.96	—	—
Omega ratio Gain probability vs. loss probability	3.82	—	—
Calmar ratio Return relative to maximum drawdown	18.76	—	—
Martin ratio Return relative to average drawdown	105.74	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	ARBIX	TALTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	7.84	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	2.94	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.10	17.80	-17.70

Drawdowns

ARBIX vs. TALTX - Drawdown Comparison

The maximum ARBIX drawdown since its inception was -4.31%, which is greater than TALTX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for ARBIX and TALTX.

Drawdown Indicators

	ARBIX	TALTX	Difference
Max Drawdown Largest peak-to-trough decline	-4.31%	0.00%	-4.31%
Max Drawdown (1Y) Largest decline over 1 year	-0.51%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-1.77%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-4.02%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-0.39%	0.00%	-0.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.09%	—	—

Volatility

Volatility by Period

	ARBIX	TALTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.38%	—	—
Volatility (6M) Calculated over the trailing 6-month period	0.89%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.22%	2.02%	-0.80%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.83%	2.02%	-0.19%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	738.64%	2.02%	+736.62%

ARBIX vs. TALTX - Expense Ratio Comparison

ARBIX has a 1.47% expense ratio, which is higher than TALTX's 0.59% expense ratio.

Dividends

ARBIX vs. TALTX - Dividend Comparison

ARBIX's dividend yield for the trailing twelve months is around 5.10%, while TALTX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
ARBIX Absolute Convertible Arbitrage Fund Institutional Shares	5.10%	5.34%	4.87%	3.62%	3.33%	3.12%	2.92%	2.83%	1.97%	0.24%
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both ARBIX and TALTX in my portfolio?

ARBIX and TALTX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.