FAUDX vs. MUIIX
Compare and contrast key facts about Strategic Advisers Short Duration Fund (FAUDX) and Morgan Stanley Institutional Fund Trust Ultra-Short Income Portfolio (MUIIX).
FAUDX is managed by Fidelity. It was launched on Dec 20, 2011. MUIIX is managed by Morgan Stanley. It was launched on Apr 28, 2016.
Performance
FAUDX vs. MUIIX - Performance Comparison
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FAUDX vs. MUIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|---|---|
FAUDX Strategic Advisers Short Duration Fund | -0.50% | 3.89% | 4.75% | 5.45% | -1.41% | -0.06% | 3.52% |
MUIIX Morgan Stanley Institutional Fund Trust Ultra-Short Income Portfolio | 0.52% | 4.47% | 4.94% | 4.17% | 1.10% | 0.10% | 0.49% |
Returns By Period
In the year-to-date period, FAUDX achieves a -0.50% return, which is significantly lower than MUIIX's 0.52% return.
FAUDX
- 1D
- 0.20%
- 1M
- -0.70%
- YTD
- -0.50%
- 6M
- -0.13%
- 1Y
- 2.00%
- 3Y*
- 4.05%
- 5Y*
- 2.40%
- 10Y*
- 21.20%
MUIIX
- 1D
- 0.00%
- 1M
- -0.10%
- YTD
- 0.52%
- 6M
- 1.55%
- 1Y
- 3.82%
- 3Y*
- 4.27%
- 5Y*
- 3.04%
- 10Y*
- —
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FAUDX vs. MUIIX - Expense Ratio Comparison
FAUDX has a 0.26% expense ratio, which is lower than MUIIX's 0.35% expense ratio.
Return for Risk
FAUDX vs. MUIIX — Risk / Return Rank
FAUDX
MUIIX
FAUDX vs. MUIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategic Advisers Short Duration Fund (FAUDX) and Morgan Stanley Institutional Fund Trust Ultra-Short Income Portfolio (MUIIX). 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.
| FAUDX | MUIIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.63 | 3.42 | -1.79 |
Sortino ratioReturn per unit of downside risk | 2.84 | 18.58 | -15.73 |
Omega ratioGain probability vs. loss probability | 1.50 | 9.29 | -7.79 |
Calmar ratioReturn relative to maximum drawdown | 2.95 | 42.24 | -39.30 |
Martin ratioReturn relative to average drawdown | 13.00 | 89.61 | -76.61 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FAUDX | MUIIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.63 | 3.42 | -1.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.59 | 1.94 | -0.36 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.42 | 1.83 | -1.40 |
Correlation
The correlation between FAUDX and MUIIX is 0.22, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
FAUDX vs. MUIIX - Dividend Comparison
FAUDX's dividend yield for the trailing twelve months is around 2.60%, less than MUIIX's 3.85% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAUDX Strategic Advisers Short Duration Fund | 2.60% | 3.62% | 4.03% | 3.85% | 1.50% | 0.63% | 1.48% | 131.91% | 2.30% | 1.44% | 1.40% | 0.91% |
MUIIX Morgan Stanley Institutional Fund Trust Ultra-Short Income Portfolio | 3.85% | 4.36% | 4.81% | 3.88% | 1.20% | 0.10% | 0.39% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FAUDX vs. MUIIX - Drawdown Comparison
The maximum FAUDX drawdown since its inception was -3.86%, which is greater than MUIIX's maximum drawdown of -1.20%. Use the drawdown chart below to compare losses from any high point for FAUDX and MUIIX.
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Drawdown Indicators
| FAUDX | MUIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.86% | -1.20% | -2.66% |
Max Drawdown (1Y)Largest decline over 1 year | -1.00% | -0.10% | -0.90% |
Max Drawdown (5Y)Largest decline over 5 years | -3.10% | -1.20% | -1.90% |
Max Drawdown (10Y)Largest decline over 10 years | -3.86% | — | — |
Current DrawdownCurrent decline from peak | -0.80% | -0.10% | -0.70% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -0.06% | -0.18% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 0.05% | +0.18% |
Volatility
FAUDX vs. MUIIX - Volatility Comparison
Strategic Advisers Short Duration Fund (FAUDX) has a higher volatility of 0.51% compared to Morgan Stanley Institutional Fund Trust Ultra-Short Income Portfolio (MUIIX) at 0.10%. This indicates that FAUDX's price experiences larger fluctuations and is considered to be riskier than MUIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAUDX | MUIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.51% | 0.10% | +0.41% |
Volatility (6M)Calculated over the trailing 6-month period | 1.04% | 0.81% | +0.23% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.86% | 1.24% | +0.62% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.56% | 1.57% | -0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.26% | 1.44% | +40.82% |