MACGX vs. TALTX

Last updated Jun 25, 2026

MACGX (Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A) and TALTX (Morgan Stanley Pathway Funds Alternative Strategies Fund) are both mutual funds - MACGX is a Mid Cap Growth Equities fund managed by Morgan Stanley, while TALTX is a Multistrategy fund managed by Morgan Stanley. A 0.61 correlation means they provide meaningful diversification when combined. MACGX charges 1.00%/yr vs 0.59%/yr for TALTX.

Performance

MACGX vs. TALTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A (MACGX) and Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MACGX

• 1D: -0.18%
• 1M: -4.01%
• YTD: -1.87%
• 6M: -5.57%
• 1Y: -6.92%
• 3Y*: 22.95%
• 5Y*: -7.15%
• 10Y*: 13.87%

TALTX

• 1D: -0.36%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MACGX vs. TALTX - Yearly Performance Comparison

	2026 (YTD)
MACGX Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A	-3.44%
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	-0.45%

Correlation

The correlation between MACGX and TALTX is 0.61, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.61

Return for Risk

MACGX vs. TALTX — Risk / Return Rank

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

MACGX

MACGX Risk / Return Rank: 2
MACGX Sharpe Ratio Rank: 2
MACGX Sortino Ratio Rank: 2
MACGX Omega Ratio Rank: 2
MACGX Calmar Ratio Rank: 2
MACGX Martin Ratio Rank: 2

TALTX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

MACGX vs. TALTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A (MACGX) 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.

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.

	MACGX	TALTX	Difference
Sharpe ratio: Return per unit of total volatility	-0.19	—	—
Sortino ratio: Return per unit of downside risk	-0.07	—	—
Omega ratio: Gain probability vs. loss probability	0.99	—	—
Calmar ratio: Return relative to maximum drawdown	-0.19	—	—
Martin ratio: Return relative to average drawdown	-0.41	—	—

Drawdowns

MACGX vs. TALTX - Drawdown Comparison

The maximum MACGX drawdown since its inception was -77.61%, which is greater than TALTX's maximum drawdown of -0.99%. Use the drawdown chart below to compare losses from any high point for MACGX and TALTX.

Drawdown Indicators

	MACGX	TALTX	Difference
Max Drawdown Largest peak-to-trough decline	-77.61%	-0.99%	-76.62%
Max Drawdown (1Y) Largest decline over 1 year	-27.55%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-28.55%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-77.61%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-77.61%	—	—
Current Drawdown Current decline from peak	-45.44%	-0.72%	-44.72%
Average Drawdown Average peak-to-trough decline	-25.68%	-0.39%	-25.29%
Ulcer Index Depth and duration of drawdowns from previous peaks	13.23%	—	—

Volatility

Volatility by Period

	MACGX	TALTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	9.66%	—	—
Volatility (6M) Calculated over the trailing 6-month period	21.85%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	28.74%	3.91%	+24.83%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	48.40%	3.91%	+44.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	39.44%	3.91%	+35.53%

MACGX vs. TALTX - Expense Ratio Comparison

MACGX has a 1.00% expense ratio, which is higher than TALTX's 0.59% expense ratio.

Dividends

MACGX vs. TALTX - Dividend Comparison

Neither MACGX nor TALTX has paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MACGX Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A	0.00%	0.00%	0.00%	0.00%	0.00%	52.53%	9.95%	15.34%	29.46%	48.48%	75.72%	14.05%
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%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MACGX and TALTX in my portfolio?

MACGX and TALTX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.