MPFDX vs. ACISX
MPFDX (Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio) and ACISX (AB Corporate Income Shares) are both Corporate Bonds funds. Over the past 10 years, MPFDX returned 2.96%/yr vs 2.85%/yr for ACISX. Their correlation of 0.93 suggests significant overlap in exposure. MPFDX charges 0.70%/yr vs 0.00%/yr for ACISX.
Performance
MPFDX vs. ACISX - Performance Comparison
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Returns By Period
In the year-to-date period, MPFDX achieves a 0.70% return, which is significantly lower than ACISX's 1.10% return. Both investments have delivered pretty close results over the past 10 years, with MPFDX having a 2.96% annualized return and ACISX not far behind at 2.85%.
MPFDX
- 1D
- 0.12%
- 1M
- 0.59%
- 6M
- 0.51%
- YTD
- 0.70%
- 1Y
- 4.15%
- 3Y*
- 5.68%
- 5Y*
- 0.44%
- 10Y*
- 2.96%
ACISX
- 1D
- -0.10%
- 1M
- 0.62%
- 6M
- 1.10%
- YTD
- 1.10%
- 1Y
- 5.06%
- 3Y*
- 5.82%
- 5Y*
- 0.38%
- 10Y*
- 2.85%
MPFDX vs. ACISX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MPFDX Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio | 0.70% | 7.75% | 2.69% | 10.05% | -16.28% | -1.92% | 10.32% | 15.73% | -3.87% | 6.91% |
ACISX AB Corporate Income Shares | 1.10% | 8.44% | 3.04% | 7.65% | -16.27% | -1.23% | 11.27% | 16.95% | -2.81% | 6.19% |
Correlation
The correlation between MPFDX and ACISX is 0.89, 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 | 0.89 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.93 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.95 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.94 |
Correlation (All Time) Calculated using the full available price history since Aug 7, 2012 | 0.93 |
The correlation between MPFDX and ACISX has been stable across timeframes, ranging from 0.89 to 0.95 - a consistent structural relationship.
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Return for Risk
MPFDX vs. ACISX — Risk / Return Rank
MPFDX
ACISX
MPFDX vs. ACISX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio (MPFDX) and AB Corporate Income Shares (ACISX). 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.
| MPFDX | ACISX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.18 | ||
| Sortino ratioReturn per unit of downside risk | -0.29 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.21 | -0.04 |
| Calmar ratioReturn relative to maximum drawdown | 1.33 | 1.49 | -0.16 |
| Martin ratioReturn relative to average drawdown | 4.16 | 4.86 | -0.70 |
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Drawdowns
MPFDX vs. ACISX - Drawdown Comparison
The maximum MPFDX drawdown since its inception was -25.17%, which is greater than ACISX's maximum drawdown of -22.65%. Use the drawdown chart below to compare losses from any high point for MPFDX and ACISX.
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Drawdown Indicators
| MPFDX | ACISX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.17% | -22.65% | -2.52% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -3.26% | +0.20% |
Max Drawdown (3Y)Largest decline over 3 years | -6.46% | -6.56% | +0.10% |
Max Drawdown (5Y)Largest decline over 5 years | -22.81% | -22.65% | -0.16% |
Max Drawdown (10Y)Largest decline over 10 years | -25.17% | -22.65% | -2.52% |
Current DrawdownCurrent decline from peak | -2.23% | -0.70% | -1.53% |
Average DrawdownAverage peak-to-trough decline | -3.13% | -4.44% | +1.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.98% | 1.01% | -0.03% |
Volatility
MPFDX vs. ACISX - Volatility Comparison
Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio (MPFDX) has a higher volatility of 1.30% compared to AB Corporate Income Shares (ACISX) at 1.07%. This indicates that MPFDX's price experiences larger fluctuations and is considered to be riskier than ACISX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MPFDX | ACISX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.30% | 1.07% | +0.23% |
Volatility (6M)Calculated over the trailing 6-month period | 3.13% | 3.19% | -0.06% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.09% | 4.17% | -0.08% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.46% | 6.49% | -0.03% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.17% | 6.00% | +0.17% |
MPFDX vs. ACISX - Expense Ratio Comparison
MPFDX has a 0.70% expense ratio, which is higher than ACISX's 0.00% expense ratio.
Dividends
MPFDX vs. ACISX - Dividend Comparison
MPFDX's dividend yield for the trailing twelve months is around 4.59%, less than ACISX's 5.08% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ACISX AB Corporate Income Shares | 5.08% | 5.10% | 4.97% | 3.66% | 3.48% | 3.44% | 5.62% | 4.77% | 3.99% | 3.28% | 3.54% | 3.63% |
MPFDX Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio | 4.59% | 4.58% | 5.40% | 4.41% | 3.17% | 4.74% | 5.79% | 2.98% | 3.04% | 2.92% | 3.05% | 3.12% |
Frequently Asked Questions
MPFDX and ACISX have a correlation of 0.89, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MPFDX has higher volatility (1.30%) compared to ACISX (1.07%). In terms of maximum drawdown, MPFDX dropped -25.17% vs ACISX's -22.65%.
ACISX currently has the higher Sharpe Ratio (1.17 vs 0.99), 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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