DMSFX vs. TALTX

Last updated Jun 4, 2026

DMSFX (Destinations Multi Strategy Alternatives Fund) and TALTX (Morgan Stanley Pathway Funds Alternative Strategies Fund) are both Multistrategy funds. At a correlation of -1.00, they often move in opposite directions. DMSFX charges 1.15%/yr vs 0.59%/yr for TALTX.

Performance

DMSFX vs. TALTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Destinations Multi Strategy Alternatives Fund (DMSFX) and Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

DMSFX

• 1D: 0.10%
• 1M: 0.88%
• YTD: 0.62%
• 6M: 0.73%
• 1Y: 4.60%
• 3Y*: 6.04%
• 5Y*: 4.23%
• 10Y*: —

TALTX

• 1D: 0.09%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

DMSFX vs. TALTX - Yearly Performance Comparison

	2026 (YTD)
DMSFX Destinations Multi Strategy Alternatives Fund	0.19%
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	0.27%

Correlation

The correlation between DMSFX and TALTX is -1.00, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	-1.00

Return for Risk

DMSFX vs. TALTX — Risk / Return Rank

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

DMSFX

DMSFX Risk / Return Rank: 35
DMSFX Sharpe Ratio Rank: 38
DMSFX Sortino Ratio Rank: 40
DMSFX Omega Ratio Rank: 44
DMSFX Calmar Ratio Rank: 29
DMSFX Martin Ratio Rank: 24

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.

DMSFX vs. TALTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Destinations Multi Strategy Alternatives Fund (DMSFX) 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.

	DMSFX	TALTX	Difference
Sharpe ratio: Return per unit of total volatility	1.79	—	—
Sortino ratio: Return per unit of downside risk	2.65	—	—
Omega ratio: Gain probability vs. loss probability	1.36	—	—
Calmar ratio: Return relative to maximum drawdown	2.00	—	—
Martin ratio: Return relative to average drawdown	5.97	—	—
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

	DMSFX	TALTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.79	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.16	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.89	21.79	-20.90

Drawdowns

DMSFX vs. TALTX - Drawdown Comparison

The maximum DMSFX drawdown since its inception was -21.11%, which is greater than TALTX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for DMSFX and TALTX.

Drawdown Indicators

	DMSFX	TALTX	Difference
Max Drawdown Largest peak-to-trough decline	-21.11%	0.00%	-21.11%
Max Drawdown (1Y) Largest decline over 1 year	-2.47%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-5.02%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-6.84%	—	—
Current Drawdown Current decline from peak	-0.25%	0.00%	-0.25%
Average Drawdown Average peak-to-trough decline	-1.60%	0.00%	-1.60%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.82%	—	—

Volatility

Volatility by Period

	DMSFX	TALTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.47%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.65%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.77%	1.43%	+1.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.68%	1.43%	+2.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.03%	1.43%	+3.60%

DMSFX vs. TALTX - Expense Ratio Comparison

DMSFX has a 1.15% expense ratio, which is higher than TALTX's 0.59% expense ratio.

Dividends

DMSFX vs. TALTX - Dividend Comparison

DMSFX's dividend yield for the trailing twelve months is around 3.73%, while TALTX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
DMSFX Destinations Multi Strategy Alternatives Fund	3.73%	3.42%	6.41%	6.62%	3.05%	4.68%	1.48%	4.64%	4.31%	2.00%
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 DMSFX and TALTX in my portfolio?

DMSFX and TALTX have a correlation of -1.00, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.