DJUN vs. MSLC

Last updated Jun 23, 2026

DJUN (FT Cboe Vest U.S. Equity Deep Buffer ETF - June) and MSLC (Morgan Stanley Pathway Large Cap Equity ETF) are both Large Cap Blend Equities funds. DJUN is passively managed, while MSLC is actively managed. Over the past year, DJUN returned 11.14% vs 21.57% for MSLC. Their correlation of 0.89 suggests significant overlap in exposure. DJUN charges 0.85%/yr vs 0.39%/yr for MSLC.

Performance

DJUN vs. MSLC - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in FT Cboe Vest U.S. Equity Deep Buffer ETF - June (DJUN) 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, DJUN achieves a 3.90% return, which is significantly lower than MSLC's 7.56% return.

DJUN

• 1D: -0.12%
• 1M: 0.35%
• YTD: 3.90%
• 6M: 3.92%
• 1Y: 11.14%
• 3Y*: 11.36%
• 5Y*: 8.02%
• 10Y*: —

MSLC

• 1D: -0.41%
• 1M: -0.07%
• YTD: 7.56%
• 6M: 7.14%
• 1Y: 21.57%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DJUN vs. MSLC - Yearly Performance Comparison

	2026 (YTD)	2025	2024
DJUN FT Cboe Vest U.S. Equity Deep Buffer ETF - June	3.90%	9.38%	-1.47%
MSLC Morgan Stanley Pathway Large Cap Equity ETF	7.56%	15.68%	-3.29%

Correlation

The correlation between DJUN and MSLC 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 (1Y) Calculated over the trailing 1-year period	0.87
Correlation (All Time) Calculated using the full available price history since Dec 9, 2024	0.89

The correlation between DJUN and MSLC has been stable across timeframes, ranging from 0.87 to 0.89 - a consistent structural relationship.

Return for Risk

DJUN vs. MSLC — Risk / Return Rank

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

DJUN

DJUN Risk / Return Rank: 86
DJUN Sharpe Ratio Rank: 82
DJUN Sortino Ratio Rank: 89
DJUN Omega Ratio Rank: 92
DJUN Calmar Ratio Rank: 73
DJUN Martin Ratio Rank: 92

MSLC

MSLC Risk / Return Rank: 52
MSLC Sharpe Ratio Rank: 53
MSLC Sortino Ratio Rank: 51
MSLC Omega Ratio Rank: 52
MSLC Calmar Ratio Rank: 49
MSLC Martin Ratio Rank: 58

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.

DJUN vs. MSLC - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for FT Cboe Vest U.S. Equity Deep Buffer ETF - June (DJUN) 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	DJUN	MSLC	Difference
Sharpe ratio: Return per unit of total volatility	2.53	1.77	+0.76
Sortino ratio: Return per unit of downside risk	3.88	2.43	+1.45
Omega ratio: Gain probability vs. loss probability	1.59	1.32	+0.27
Calmar ratio: Return relative to maximum drawdown	3.58	2.33	+1.25
Martin ratio: Return relative to average drawdown	22.05	10.00	+12.05

DJUN vs. MSLC - Sharpe Ratio Comparison

The current DJUN Sharpe Ratio is 2.53, which is higher than the MSLC Sharpe Ratio of 1.77. The chart below compares the historical Sharpe Ratios of DJUN 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.

Drawdowns

DJUN vs. MSLC - Drawdown Comparison

The maximum DJUN drawdown since its inception was -11.96%, smaller than the maximum MSLC drawdown of -17.86%. Use the drawdown chart below to compare losses from any high point for DJUN and MSLC.

Drawdown Indicators

	DJUN	MSLC	Difference
Max Drawdown Largest peak-to-trough decline	-11.96%	-17.86%	+5.90%
Max Drawdown (1Y) Largest decline over 1 year	-3.15%	-9.31%	+6.16%
Max Drawdown (3Y) Largest decline over 3 years	-11.96%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-11.96%	—	—
Current Drawdown Current decline from peak	-0.12%	-1.73%	+1.61%
Average Drawdown Average peak-to-trough decline	-1.58%	-2.44%	+0.86%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.51%	2.16%	-1.65%

Volatility

DJUN vs. MSLC - Volatility Comparison

The current volatility for FT Cboe Vest U.S. Equity Deep Buffer ETF - June (DJUN) is 0.28%, while Morgan Stanley Pathway Large Cap Equity ETF (MSLC) has a volatility of 4.45%. This indicates that DJUN experiences smaller price fluctuations and is considered to be less risky than MSLC based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	DJUN	MSLC	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.28%	4.45%	-4.17%
Volatility (6M) Calculated over the trailing 6-month period	3.54%	9.60%	-6.06%
Volatility (1Y) Calculated over the trailing 1-year period	4.47%	12.29%	-7.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	8.51%	17.15%	-8.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.02%	17.15%	-9.13%

DJUN vs. MSLC - Expense Ratio Comparison

DJUN has a 0.85% expense ratio, which is higher than MSLC's 0.39% expense ratio.

Dividends

DJUN vs. MSLC - Dividend Comparison

DJUN has not paid dividends to shareholders, while MSLC's dividend yield for the trailing twelve months is around 2.00%.

Position	TTM	2025
DJUN FT Cboe Vest U.S. Equity Deep Buffer ETF - June	0.00%	0.00%
MSLC Morgan Stanley Pathway Large Cap Equity ETF	2.00%	2.15%

Frequently Asked Questions

Can I hold both DJUN and MSLC in my portfolio?

DJUN and MSLC 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.

Which is riskier, DJUN or MSLC?

MSLC has higher volatility (4.45%) compared to DJUN (0.28%). In terms of maximum drawdown, DJUN dropped -11.96% vs MSLC's -17.86%.

Which ETF is better, DJUN or MSLC?

On 1-year performance, MSLC leads with 21.57% vs 11.14% for DJUN. On fees, MSLC is cheaper at 0.39% per year. On volatility, DJUN has been the lower-risk option at 0.28%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, DJUN or MSLC?

Over the 1-year period, MSLC has performed better with a 21.57% return vs 11.14%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, DJUN or MSLC?

MSLC is cheaper with a 0.39% expense ratio, compared with 0.85% for DJUN.

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

MSLC has the higher dividend yield at 2.00%, compared with 0.00% for DJUN.

What is the main difference between DJUN and MSLC?

They also come from different issuers: First Trust and Morgan Stanley. Their fees differ too: 0.85% for DJUN and 0.39% for MSLC.

Which has better risk-adjusted returns?

DJUN currently has the higher Sharpe Ratio (2.53 vs 1.77), 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.