MPFDX vs. VICSX
MPFDX (Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio) and VICSX (Vanguard Intermediate-Term Corporate Bond Index Fund Admiral Shares) are both Corporate Bonds funds. Over the past 10 years, MPFDX returned 3.13%/yr vs 2.98%/yr for VICSX. Their correlation of 0.91 suggests significant overlap in exposure. MPFDX charges 0.70%/yr vs 0.07%/yr for VICSX.
Performance
MPFDX vs. VICSX - Performance Comparison
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Returns By Period
In the year-to-date period, MPFDX achieves a 0.48% return, which is significantly higher than VICSX's 0.22% return. Both investments have delivered pretty close results over the past 10 years, with MPFDX having a 3.13% annualized return and VICSX not far behind at 2.98%.
MPFDX
- 1D
- 0.09%
- 1M
- 0.01%
- YTD
- 0.48%
- 6M
- 0.58%
- 1Y
- 5.54%
- 3Y*
- 5.78%
- 5Y*
- 0.71%
- 10Y*
- 3.13%
VICSX
- 1D
- 0.09%
- 1M
- -0.26%
- YTD
- 0.22%
- 6M
- 0.49%
- 1Y
- 5.92%
- 3Y*
- 6.20%
- 5Y*
- 1.29%
- 10Y*
- 2.98%
MPFDX vs. VICSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MPFDX Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio | 0.48% | 7.75% | 2.69% | 10.05% | -16.28% | -1.92% | 10.32% | 15.73% | -3.87% | 6.91% |
VICSX Vanguard Intermediate-Term Corporate Bond Index Fund Admiral Shares | 0.22% | 9.36% | 3.66% | 8.88% | -14.09% | -1.56% | 9.52% | 13.99% | -1.73% | 5.47% |
Correlation
The correlation between MPFDX and VICSX is 0.97 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.97 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.97 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.96 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.93 |
Correlation (All Time) Calculated using the full available price history since Nov 24, 2009 | 0.91 |
The correlation between MPFDX and VICSX has been stable across timeframes, ranging from 0.91 to 0.97 - a consistent structural relationship.
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Return for Risk
MPFDX vs. VICSX — Risk / Return Rank
MPFDX
VICSX
MPFDX vs. VICSX - 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 Vanguard Intermediate-Term Corporate Bond Index Fund Admiral Shares (VICSX). 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.
| MPFDX | VICSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.14 | ||
| Sortino ratioReturn per unit of downside risk | -0.22 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.26 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 1.90 | -0.15 |
| Martin ratioReturn relative to average drawdown | 5.63 | 6.27 | -0.64 |
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
| MPFDX | VICSX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 1.46 | -0.14 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 0.21 | -0.10 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.56 | -0.05 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.08 | 0.85 | +0.23 |
Drawdowns
MPFDX vs. VICSX - Drawdown Comparison
The maximum MPFDX drawdown since its inception was -25.17%, which is greater than VICSX's maximum drawdown of -20.53%. Use the drawdown chart below to compare losses from any high point for MPFDX and VICSX.
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Drawdown Indicators
| MPFDX | VICSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.17% | -20.53% | -4.64% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -2.98% | -0.08% |
Max Drawdown (3Y)Largest decline over 3 years | -6.46% | -6.02% | -0.44% |
Max Drawdown (5Y)Largest decline over 5 years | -22.81% | -20.53% | -2.28% |
Max Drawdown (10Y)Largest decline over 10 years | -25.17% | -20.53% | -4.64% |
Current DrawdownCurrent decline from peak | -2.44% | -1.30% | -1.14% |
Average DrawdownAverage peak-to-trough decline | -3.13% | -3.16% | +0.03% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 0.90% | +0.05% |
Volatility
MPFDX vs. VICSX - Volatility Comparison
Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio (MPFDX) and Vanguard Intermediate-Term Corporate Bond Index Fund Admiral Shares (VICSX) have volatilities of 1.36% and 1.32%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MPFDX | VICSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 1.32% | +0.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.99% | 2.87% | +0.12% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.12% | 3.93% | +0.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.46% | 6.16% | +0.30% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.16% | 5.34% | +0.82% |
MPFDX vs. VICSX - Expense Ratio Comparison
MPFDX has a 0.70% expense ratio, which is higher than VICSX's 0.07% expense ratio.
Dividends
MPFDX vs. VICSX - Dividend Comparison
MPFDX's dividend yield for the trailing twelve months is around 4.58%, less than VICSX's 4.77% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MPFDX Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio | 4.58% | 4.58% | 5.40% | 4.41% | 3.17% | 4.74% | 5.79% | 2.98% | 3.04% | 2.92% | 3.05% | 3.12% |
VICSX Vanguard Intermediate-Term Corporate Bond Index Fund Admiral Shares | 4.77% | 4.59% | 4.77% | 3.70% | 3.00% | 2.76% | 2.77% | 3.35% | 3.62% | 3.22% | 3.03% | 3.36% |
Frequently Asked Questions
With a correlation of 0.97, MPFDX and VICSX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
MPFDX has higher volatility (1.36%) compared to VICSX (1.32%). In terms of maximum drawdown, MPFDX dropped -25.17% vs VICSX's -20.53%.
VICSX currently has the higher Sharpe Ratio (1.46 vs 1.32), 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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