FAUDX vs. TSDUX
FAUDX (Strategic Advisers Short Duration Fund) and TSDUX (Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund) are both Ultrashort Bond funds. Over the past 10 years, FAUDX returned 21.19%/yr vs 2.68%/yr for TSDUX. At a 0.07 correlation, their price movements are largely independent. FAUDX charges 0.26%/yr vs 0.62%/yr for TSDUX.
Performance
FAUDX vs. TSDUX - Performance Comparison
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Returns By Period
In the year-to-date period, FAUDX achieves a 0.08% return, which is significantly lower than TSDUX's 1.77% return. Over the past 10 years, FAUDX has outperformed TSDUX with an annualized return of 21.19%, while TSDUX has yielded a comparatively lower 2.68% annualized return.
FAUDX
- 1D
- -0.10%
- 1M
- 0.14%
- YTD
- 0.08%
- 6M
- -0.01%
- 1Y
- 2.24%
- 3Y*
- 3.99%
- 5Y*
- 2.48%
- 10Y*
- 21.19%
TSDUX
- 1D
- 0.00%
- 1M
- 0.37%
- YTD
- 1.77%
- 6M
- 1.88%
- 1Y
- 3.17%
- 3Y*
- 4.82%
- 5Y*
- 3.41%
- 10Y*
- 2.68%
FAUDX vs. TSDUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
FAUDX Strategic Advisers Short Duration Fund | 0.08% | 3.89% | 4.75% | 5.45% | -1.41% | -0.06% | 2.40% | 468.65% | 1.30% | 1.65% |
TSDUX Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund | 1.77% | 3.24% | 6.04% | 5.94% | 0.41% | -0.11% | 2.06% | 2.65% | 1.64% | 1.73% |
Correlation
The correlation between FAUDX and TSDUX is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.06 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2016 | 0.07 |
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Return for Risk
FAUDX vs. TSDUX — Risk / Return Rank
FAUDX
TSDUX
FAUDX vs. TSDUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Strategic Advisers Short Duration Fund (FAUDX) and Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund (TSDUX). 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.
| FAUDX | TSDUX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.00 | ||
| Sortino ratioReturn per unit of downside risk | -2.04 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 3.14 | -1.67 |
| Calmar ratioReturn relative to maximum drawdown | 2.63 | 8.71 | -6.07 |
| Martin ratioReturn relative to average drawdown | 10.90 | 28.57 | -17.67 |
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Drawdowns
FAUDX vs. TSDUX - Drawdown Comparison
The maximum FAUDX drawdown since its inception was -3.86%, roughly equal to the maximum TSDUX drawdown of -3.94%. Use the drawdown chart below to compare losses from any high point for FAUDX and TSDUX.
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Drawdown Indicators
| FAUDX | TSDUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.86% | -3.94% | +0.08% |
Max Drawdown (1Y)Largest decline over 1 year | -1.00% | -0.41% | -0.59% |
Max Drawdown (3Y)Largest decline over 3 years | -1.00% | -0.73% | -0.27% |
Max Drawdown (5Y)Largest decline over 5 years | -3.10% | -1.72% | -1.38% |
Max Drawdown (10Y)Largest decline over 10 years | -3.86% | -3.94% | +0.08% |
Current DrawdownCurrent decline from peak | -0.30% | 0.00% | -0.30% |
Average DrawdownAverage peak-to-trough decline | -0.24% | -0.19% | -0.05% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.23% | 0.13% | +0.10% |
Volatility
FAUDX vs. TSDUX - Volatility Comparison
Strategic Advisers Short Duration Fund (FAUDX) has a higher volatility of 0.60% compared to Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund (TSDUX) at 0.17%. This indicates that FAUDX's price experiences larger fluctuations and is considered to be riskier than TSDUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FAUDX | TSDUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.60% | 0.17% | +0.43% |
Volatility (6M)Calculated over the trailing 6-month period | 1.07% | 0.52% | +0.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.57% | 0.97% | +0.60% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.61% | 1.11% | +0.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 42.33% | 1.09% | +41.24% |
FAUDX vs. TSDUX - Expense Ratio Comparison
FAUDX has a 0.26% expense ratio, which is lower than TSDUX's 0.62% expense ratio.
Dividends
FAUDX vs. TSDUX - Dividend Comparison
FAUDX's dividend yield for the trailing twelve months is around 3.24%, more than TSDUX's 2.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FAUDX Strategic Advisers Short Duration Fund | 3.24% | 3.62% | 4.03% | 3.85% | 1.50% | 0.63% | 1.48% | 131.91% | 2.30% | 1.44% | 1.40% | 0.91% |
TSDUX Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund | 2.91% | 3.09% | 5.03% | 1.55% | 6.36% | 0.60% | 1.65% | 2.84% | 2.66% | 2.22% | 1.87% | 0.00% |
Frequently Asked Questions
FAUDX and TSDUX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FAUDX has higher volatility (0.60%) compared to TSDUX (0.17%). In terms of maximum drawdown, FAUDX dropped -3.86% vs TSDUX's -3.94%.
TSDUX currently has the higher Sharpe Ratio (3.68 vs 1.68), 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.
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