MPFDX vs. VSTBX
MPFDX (Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio) and VSTBX (Vanguard Short-Term Corporate Bond Index Fund Institutional Shares) are both Corporate Bonds funds. Over the past 10 years, MPFDX returned 3.13%/yr vs 3.02%/yr for VSTBX. A 0.77 correlation means they provide meaningful diversification when combined. MPFDX charges 0.70%/yr vs 0.05%/yr for VSTBX.
Performance
MPFDX vs. VSTBX - 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 VSTBX's 0.73% return. Both investments have delivered pretty close results over the past 10 years, with MPFDX having a 3.13% annualized return and VSTBX not far behind at 3.02%.
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%
VSTBX
- 1D
- 0.08%
- 1M
- -0.00%
- YTD
- 0.73%
- 6M
- 1.15%
- 1Y
- 4.58%
- 3Y*
- 5.66%
- 5Y*
- 2.40%
- 10Y*
- 3.02%
MPFDX vs. VSTBX - 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% |
VSTBX Vanguard Short-Term Corporate Bond Index Fund Institutional Shares | 0.73% | 6.75% | 5.37% | 6.17% | -5.73% | -0.41% | 5.07% | 9.68% | 0.92% | 2.48% |
Correlation
The correlation between MPFDX and VSTBX is 0.86, 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 | 0.86 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.86 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.85 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.79 |
Correlation (All Time) Calculated using the full available price history since Nov 20, 2009 | 0.77 |
The correlation between MPFDX and VSTBX has been stable across timeframes, ranging from 0.77 to 0.86 - a consistent structural relationship.
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Return for Risk
MPFDX vs. VSTBX — Risk / Return Rank
MPFDX
VSTBX
MPFDX vs. VSTBX - 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 Short-Term Corporate Bond Index Fund Institutional Shares (VSTBX). 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 | VSTBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.21 | ||
| Sortino ratioReturn per unit of downside risk | -2.01 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.50 | -0.27 |
| Calmar ratioReturn relative to maximum drawdown | 1.75 | 3.35 | -1.60 |
| Martin ratioReturn relative to average drawdown | 5.63 | 13.42 | -7.79 |
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 | VSTBX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.32 | 2.53 | -1.21 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.11 | 0.89 | -0.78 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | 1.27 | -0.76 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.08 | 1.46 | -0.38 |
Drawdowns
MPFDX vs. VSTBX - Drawdown Comparison
The maximum MPFDX drawdown since its inception was -25.17%, which is greater than VSTBX's maximum drawdown of -9.34%. Use the drawdown chart below to compare losses from any high point for MPFDX and VSTBX.
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Drawdown Indicators
| MPFDX | VSTBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.17% | -9.34% | -15.83% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -1.31% | -1.75% |
Max Drawdown (3Y)Largest decline over 3 years | -6.46% | -1.31% | -5.15% |
Max Drawdown (5Y)Largest decline over 5 years | -22.81% | -9.34% | -13.47% |
Max Drawdown (10Y)Largest decline over 10 years | -25.17% | -9.34% | -15.83% |
Current DrawdownCurrent decline from peak | -2.44% | -0.24% | -2.20% |
Average DrawdownAverage peak-to-trough decline | -3.13% | -0.96% | -2.17% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 0.33% | +0.62% |
Volatility
MPFDX vs. VSTBX - Volatility Comparison
Morgan Stanley Institutional Fund Trust Corporate Bond Portfolio (MPFDX) has a higher volatility of 1.36% compared to Vanguard Short-Term Corporate Bond Index Fund Institutional Shares (VSTBX) at 0.56%. This indicates that MPFDX's price experiences larger fluctuations and is considered to be riskier than VSTBX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MPFDX | VSTBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.36% | 0.56% | +0.80% |
Volatility (6M)Calculated over the trailing 6-month period | 2.99% | 1.26% | +1.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.12% | 1.76% | +2.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.46% | 2.71% | +3.75% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.16% | 2.38% | +3.78% |
MPFDX vs. VSTBX - Expense Ratio Comparison
MPFDX has a 0.70% expense ratio, which is higher than VSTBX's 0.05% expense ratio.
Dividends
MPFDX vs. VSTBX - Dividend Comparison
MPFDX's dividend yield for the trailing twelve months is around 4.58%, more than VSTBX's 4.44% 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% |
VSTBX Vanguard Short-Term Corporate Bond Index Fund Institutional Shares | 4.44% | 4.34% | 4.29% | 3.09% | 2.00% | 1.80% | 2.27% | 5.40% | 2.67% | 2.27% | 1.96% | 2.25% |
Frequently Asked Questions
MPFDX and VSTBX have a correlation of 0.86, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MPFDX has higher volatility (1.36%) compared to VSTBX (0.56%). In terms of maximum drawdown, MPFDX dropped -25.17% vs VSTBX's -9.34%.
VSTBX currently has the higher Sharpe Ratio (2.53 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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