MPFDX vs. PRPIX
MPFDX (Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio) and PRPIX (T. Rowe Price Corporate Income Fund) are both Corporate Bonds funds. Over the past 10 years, MPFDX returned 2.73%/yr vs 2.87%/yr for PRPIX. Their correlation of 0.85 means they have usually moved in the same direction. MPFDX charges 0.70%/yr vs 0.56%/yr for PRPIX.
Performance
MPFDX vs. PRPIX - Performance Comparison
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Returns By Period
In the year-to-date period, MPFDX achieves a -0.83% return, which is significantly higher than PRPIX's -1.21% return. Over the past 10 years, MPFDX has underperformed PRPIX with an annualized return of 2.73%, while PRPIX has yielded a comparatively higher 2.87% annualized return.
MPFDX
- 1D
- 0.10%
- 1M
- -1.96%
- 6M
- -1.38%
- YTD
- -0.83%
- 1Y
- 2.47%
- 3Y*
- 4.98%
- 5Y*
- -0.02%
- 10Y*
- 2.73%
- ALL TIME*
- 5.72%
PRPIX
- 1D
- -0.13%
- 1M
- -2.22%
- 6M
- -1.21%
- YTD
- -1.21%
- 1Y
- 2.80%
- 3Y*
- 7.14%
- 5Y*
- 1.07%
- 10Y*
- 2.87%
- ALL TIME*
- 4.93%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MPFDX vs. PRPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MPFDX Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio | -0.83% | 7.75% | 2.69% | 10.05% | -16.28% | -1.92% | 10.32% | 15.73% | -3.87% | 6.91% |
PRPIX T. Rowe Price Corporate Income Fund | -1.21% | 9.21% | 6.49% | 12.72% | -17.71% | -0.76% | 7.87% | 15.77% | -3.05% | 6.58% |
Correlation
The correlation between MPFDX and PRPIX is 0.89, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.89 |
Correlation (3Y) Balances recent behavior with more history. | 0.92 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.94 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.92 |
Correlation (All Time) Calculated using the full available price history since Jan 2, 1996 | 0.85 |
The correlation between MPFDX and PRPIX has been stable across timeframes, ranging from 0.85 to 0.94 - a consistent structural relationship.
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Return for Risk
MPFDX vs. PRPIX — Risk / Return Rank
MPFDX
PRPIX
MPFDX vs. PRPIX - 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 T. Rowe Price Corporate Income Fund (PRPIX). 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 | PRPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.12 | 1.12 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 0.91 | 0.89 | +0.01 |
| Martin ratioReturn relative to average drawdown | 2.64 | 2.99 | -0.35 |
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Drawdowns
MPFDX vs. PRPIX - Drawdown Comparison
The maximum MPFDX drawdown since its inception was -25.17%, roughly equal to the maximum PRPIX drawdown of -24.24%. Use the drawdown chart below to compare losses from any high point for MPFDX and PRPIX.
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Drawdown Indicators
| MPFDX | PRPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.17% | -24.24% | -0.93% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -3.29% | +0.23% |
Max Drawdown (3Y)Largest decline over 3 years | -6.10% | -5.67% | -0.43% |
Max Drawdown (5Y)Largest decline over 5 years | -22.81% | -24.24% | +1.43% |
Max Drawdown (10Y)Largest decline over 10 years | -25.17% | -24.24% | -0.93% |
Current DrawdownCurrent decline from peak | -3.72% | -2.60% | -1.12% |
Average DrawdownAverage peak-to-trough decline | -3.13% | -2.86% | -0.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.05% | 0.98% | +0.07% |
Volatility
MPFDX vs. PRPIX - Volatility Comparison
The current volatility for Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio (MPFDX) is 1.05%, while T. Rowe Price Corporate Income Fund (PRPIX) has a volatility of 1.17%. This indicates that MPFDX experiences smaller price fluctuations and is considered to be less risky than PRPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MPFDX | PRPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.05% | 1.17% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 3.16% | 3.29% | -0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.11% | 4.24% | -0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.46% | 6.65% | -0.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.17% | 6.06% | +0.11% |
MPFDX vs. PRPIX - Expense Ratio Comparison
MPFDX has a 0.70% expense ratio, which is higher than PRPIX's 0.56% expense ratio.
Dividends
MPFDX vs. PRPIX - Dividend Comparison
MPFDX's dividend yield for the trailing twelve months is around 4.66%, less than PRPIX's 5.18% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MPFDX Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio | 4.66% | 4.58% | 5.40% | 4.41% | 3.17% | 4.74% | 5.79% | 2.98% | 3.04% | 2.92% | 3.05% | 3.12% |
PRPIX T. Rowe Price Corporate Income Fund | 5.18% | 5.87% | 8.35% | 7.54% | 2.42% | 5.61% | 3.82% | 5.47% | 3.47% | 3.95% | 3.20% | 4.23% |
Frequently Asked Questions
MPFDX and PRPIX 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.
PRPIX has higher volatility (1.17%) compared to MPFDX (1.05%). In terms of maximum drawdown, MPFDX dropped -25.17% vs PRPIX's -24.24%.
PRPIX currently has the higher Sharpe Ratio (0.69 vs 0.68), 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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