MPFDX vs. VLTCX
MPFDX (Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio) and VLTCX (Vanguard Long-Term Corporate Bond Index Fund Admiral Shares) are both Corporate Bonds funds. Over the past 10 years, MPFDX returned 3.13%/yr vs 2.45%/yr for VLTCX. Their correlation of 0.91 suggests significant overlap in exposure. MPFDX charges 0.70%/yr vs 0.07%/yr for VLTCX.
Performance
MPFDX vs. VLTCX - Performance Comparison
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Returns By Period
In the year-to-date period, MPFDX achieves a 0.48% return, which is significantly lower than VLTCX's 1.02% return. Over the past 10 years, MPFDX has outperformed VLTCX with an annualized return of 3.13%, while VLTCX has yielded a comparatively lower 2.45% annualized return.
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%
VLTCX
- 1D
- 0.25%
- 1M
- 0.37%
- YTD
- 1.02%
- 6M
- 0.64%
- 1Y
- 6.92%
- 3Y*
- 4.64%
- 5Y*
- -1.70%
- 10Y*
- 2.45%
MPFDX vs. VLTCX - 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% |
VLTCX Vanguard Long-Term Corporate Bond Index Fund Admiral Shares | 1.02% | 7.27% | -1.47% | 11.05% | -25.77% | -1.16% | 13.68% | 23.19% | -6.85% | 12.40% |
Correlation
The correlation between MPFDX and VLTCX is 0.96 - 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 | 0.96 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.96 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.97 |
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 VLTCX 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. VLTCX — Risk / Return Rank
MPFDX
VLTCX
MPFDX vs. VLTCX - 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 Long-Term Corporate Bond Index Fund Admiral Shares (VLTCX). 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 | VLTCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.43 | ||
| Sortino ratioReturn per unit of downside risk | +0.61 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.15 | +0.08 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 1.26 | +0.49 |
| Martin ratioReturn relative to average drawdown | 5.63 | 3.09 | +2.54 |
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 | VLTCX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 0.88 | +0.43 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | -0.14 | +0.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 0.23 | +0.28 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.08 | 0.45 | +0.63 |
Drawdowns
MPFDX vs. VLTCX - Drawdown Comparison
The maximum MPFDX drawdown since its inception was -25.17%, smaller than the maximum VLTCX drawdown of -34.56%. Use the drawdown chart below to compare losses from any high point for MPFDX and VLTCX.
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Drawdown Indicators
| MPFDX | VLTCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.17% | -34.56% | +9.39% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -5.29% | +2.23% |
Max Drawdown (3Y)Largest decline over 3 years | -6.46% | -12.87% | +6.41% |
Max Drawdown (5Y)Largest decline over 5 years | -22.81% | -34.56% | +11.75% |
Max Drawdown (10Y)Largest decline over 10 years | -25.17% | -34.56% | +9.39% |
Current DrawdownCurrent decline from peak | -2.44% | -13.97% | +11.53% |
Average DrawdownAverage peak-to-trough decline | -3.13% | -8.04% | +4.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 2.16% | -1.21% |
Volatility
MPFDX vs. VLTCX - Volatility Comparison
The current volatility for Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio (MPFDX) is 1.36%, while Vanguard Long-Term Corporate Bond Index Fund Admiral Shares (VLTCX) has a volatility of 2.34%. This indicates that MPFDX experiences smaller price fluctuations and is considered to be less risky than VLTCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MPFDX | VLTCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 2.34% | -0.98% |
Volatility (6M)Calculated over the trailing 6-month period | 2.99% | 5.47% | -2.48% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.12% | 7.67% | -3.55% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.46% | 11.86% | -5.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.16% | 10.60% | -4.44% |
MPFDX vs. VLTCX - Expense Ratio Comparison
MPFDX has a 0.70% expense ratio, which is higher than VLTCX's 0.07% expense ratio.
Dividends
MPFDX vs. VLTCX - Dividend Comparison
MPFDX's dividend yield for the trailing twelve months is around 4.58%, less than VLTCX's 5.51% 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% |
VLTCX Vanguard Long-Term Corporate Bond Index Fund Admiral Shares | 5.51% | 5.48% | 5.58% | 4.65% | 4.41% | 3.03% | 3.15% | 3.82% | 4.56% | 4.01% | 4.37% | 4.71% |
Frequently Asked Questions
With a correlation of 0.96, MPFDX and VLTCX 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.
VLTCX has higher volatility (2.34%) compared to MPFDX (1.36%). In terms of maximum drawdown, MPFDX dropped -25.17% vs VLTCX's -34.56%.
MPFDX currently has the higher Sharpe Ratio (1.32 vs 0.88), 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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