AVIE vs. MSLC

Last updated Jun 4, 2026

AVIE (Avantis Inflation Focused Equity ETF) and MSLC (Morgan Stanley Pathway Large Cap Equity ETF) are both Large Cap Blend Equities funds. Both are actively managed. Over the past year, AVIE returned 23.46% vs 22.69% for MSLC. At a 0.44 correlation, their price movements are largely independent. AVIE charges 0.25%/yr vs 0.39%/yr for MSLC.

Performance

AVIE vs. MSLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Avantis Inflation Focused Equity ETF (AVIE) and Morgan Stanley Pathway Large Cap Equity ETF (MSLC). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, AVIE achieves a 12.80% return, which is significantly higher than MSLC's 8.55% return.

AVIE

• 1D: 0.43%
• 1M: 0.22%
• YTD: 12.80%
• 6M: 12.98%
• 1Y: 23.46%
• 3Y*: 13.07%
• 5Y*: —
• 10Y*: —

MSLC

• 1D: -0.82%
• 1M: 4.08%
• YTD: 8.55%
• 6M: 8.69%
• 1Y: 22.69%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

AVIE vs. MSLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
AVIE Avantis Inflation Focused Equity ETF	12.80%	11.37%	-4.73%
MSLC Morgan Stanley Pathway Large Cap Equity ETF	8.55%	15.68%	-3.29%

Correlation

The correlation between AVIE and MSLC is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (All Time) Calculated using the full available price history since Dec 10, 2024	0.44

The correlation between AVIE and MSLC shifts across timeframes, from 0.32 (1 year) to 0.44 (all time), reflecting how their relationship changes across market environments.

Return for Risk

AVIE vs. MSLC — Risk / Return Rank

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

AVIE

AVIE Risk / Return Rank: 76
AVIE Sharpe Ratio Rank: 73
AVIE Sortino Ratio Rank: 76
AVIE Omega Ratio Rank: 70
AVIE Calmar Ratio Rank: 86
AVIE Martin Ratio Rank: 76

MSLC

MSLC Risk / Return Rank: 57
MSLC Sharpe Ratio Rank: 58
MSLC Sortino Ratio Rank: 57
MSLC Omega Ratio Rank: 57
MSLC Calmar Ratio Rank: 50
MSLC Martin Ratio Rank: 61

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.

AVIE vs. MSLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Avantis Inflation Focused Equity ETF (AVIE) and Morgan Stanley Pathway Large Cap Equity ETF (MSLC). 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.

	AVIE	MSLC	Difference
Sharpe ratio Return per unit of total volatility	2.39	1.94	+0.45
Sortino ratio Return per unit of downside risk	3.44	2.68	+0.76
Omega ratio Gain probability vs. loss probability	1.42	1.35	+0.07
Calmar ratio Return relative to maximum drawdown	4.74	2.45	+2.30
Martin ratio Return relative to average drawdown	14.57	10.76	+3.81
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

AVIE vs. MSLC - Sharpe Ratio Comparison

The current AVIE Sharpe Ratio is 2.39, which is comparable to the MSLC Sharpe Ratio of 1.94. The chart below compares the historical Sharpe Ratios of AVIE and MSLC, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	AVIE	MSLC	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.39	1.94	+0.45
Sharpe Ratio (All Time) Calculated using the full available price history	1.05	0.83	+0.22

Drawdowns

AVIE vs. MSLC - Drawdown Comparison

The maximum AVIE drawdown since its inception was -12.39%, smaller than the maximum MSLC drawdown of -17.86%. Use the drawdown chart below to compare losses from any high point for AVIE and MSLC.

Drawdown Indicators

	AVIE	MSLC	Difference
Max Drawdown Largest peak-to-trough decline	-12.39%	-17.86%	+5.47%
Max Drawdown (1Y) Largest decline over 1 year	-4.97%	-9.31%	+4.34%
Max Drawdown (3Y) Largest decline over 3 years	-12.39%	—	—
Current Drawdown Current decline from peak	-1.36%	-0.82%	-0.54%
Average Drawdown Average peak-to-trough decline	-3.03%	-2.46%	-0.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.62%	2.11%	-0.49%

Volatility

AVIE vs. MSLC - Volatility Comparison

Avantis Inflation Focused Equity ETF (AVIE) has a higher volatility of 3.06% compared to Morgan Stanley Pathway Large Cap Equity ETF (MSLC) at 2.87%. This indicates that AVIE's price experiences larger fluctuations and is considered to be riskier than MSLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	AVIE	MSLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.06%	2.87%	+0.19%
Volatility (6M) Calculated over the trailing 6-month period	7.19%	8.86%	-1.67%
Volatility (1Y) Calculated over the trailing 1-year period	9.88%	11.77%	-1.89%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.94%	17.11%	-4.17%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.94%	17.11%	-4.17%

AVIE vs. MSLC - Expense Ratio Comparison

AVIE has a 0.25% expense ratio, which is lower than MSLC's 0.39% expense ratio.

Dividends

AVIE vs. MSLC - Dividend Comparison

AVIE's dividend yield for the trailing twelve months is around 1.45%, less than MSLC's 1.98% yield.

Position	TTM	2025	2024	2023	2022
AVIE Avantis Inflation Focused Equity ETF	1.45%	1.75%	1.89%	3.72%	0.39%
MSLC Morgan Stanley Pathway Large Cap Equity ETF	1.98%	2.15%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both AVIE and MSLC in my portfolio?

AVIE and MSLC have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, AVIE or MSLC?

AVIE has higher volatility (3.06%) compared to MSLC (2.87%). In terms of maximum drawdown, AVIE dropped -12.39% vs MSLC's -17.86%.

Which ETF is better, AVIE or MSLC?

On 1-year performance, AVIE leads with 23.46% vs 22.69% for MSLC. On fees, AVIE is cheaper at 0.25% per year. On volatility, MSLC has been the lower-risk option at 2.87%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, AVIE or MSLC?

Over the 1-year period, AVIE has performed better with a 23.46% return vs 22.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, AVIE or MSLC?

AVIE is cheaper with a 0.25% expense ratio, compared with 0.39% for MSLC.

Which ETF pays a higher dividend yield, AVIE or MSLC?

MSLC has the higher dividend yield at 1.98%, compared with 1.45% for AVIE.

What is the main difference between AVIE and MSLC?

They also come from different issuers: Avantis and Morgan Stanley. Their fees differ too: 0.25% for AVIE and 0.39% for MSLC.

Which has better risk-adjusted returns?

AVIE currently has the higher Sharpe Ratio (2.39 vs 1.94), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.