MSLC vs. AVIE

Last updated Apr 2, 2026

Compare and contrast key facts about Morgan Stanley Pathway Large Cap Equity ETF (MSLC) and Avantis Inflation Focused Equity ETF (AVIE).

MSLC and AVIE are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. MSLC is an actively managed fund by Morgan Stanley. It was launched on Nov 18, 1991. AVIE is an actively managed fund by Avantis. It was launched on Sep 27, 2022.

Performance

MSLC vs. AVIE - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Pathway Large Cap Equity ETF (MSLC) and Avantis Inflation Focused Equity ETF (AVIE). The values are adjusted to include any dividend payments, if applicable.

MSLC vs. AVIE - Yearly Performance Comparison

	2026 (YTD)	2025	2024
MSLC Morgan Stanley Pathway Large Cap Equity ETF	-4.14%	15.68%	-3.29%
AVIE Avantis Inflation Focused Equity ETF	10.59%	11.37%	-4.73%

Returns By Period

In the year-to-date period, MSLC achieves a -4.14% return, which is significantly lower than AVIE's 10.59% return.

MSLC

• 1D: 0.72%
• 1M: -4.49%
• YTD: -4.14%
• 6M: -2.37%
• 1Y: 14.77%
• 3Y*: —
• 5Y*: —
• 10Y*: —

AVIE

• 1D: -0.62%
• 1M: -2.70%
• YTD: 10.59%
• 6M: 15.07%
• 1Y: 14.85%
• 3Y*: 12.07%
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MSLC vs. AVIE - Expense Ratio Comparison

MSLC has a 0.39% expense ratio, which is higher than AVIE's 0.25% expense ratio.

MSLC

Morgan Stanley Pathway Large Cap Equity ETF

AVIE

Avantis Inflation Focused Equity ETF

Return for Risk

MSLC vs. AVIE — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MSLC

MSLC Risk / Return Rank: 44
MSLC Sharpe Ratio Rank: 39
MSLC Sortino Ratio Rank: 42
MSLC Omega Ratio Rank: 45
MSLC Calmar Ratio Rank: 42
MSLC Martin Ratio Rank: 50

AVIE

AVIE Risk / Return Rank: 48
AVIE Sharpe Ratio Rank: 53
AVIE Sortino Ratio Rank: 50
AVIE Omega Ratio Rank: 55
AVIE Calmar Ratio Rank: 44
AVIE Martin Ratio Rank: 36

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MSLC vs. AVIE - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Pathway Large Cap Equity ETF (MSLC) and Avantis Inflation Focused Equity ETF (AVIE). 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.

	MSLC	AVIE	Difference
Sharpe ratio Return per unit of total volatility	0.81	1.02	-0.21
Sortino ratio Return per unit of downside risk	1.28	1.41	-0.13
Omega ratio Gain probability vs. loss probability	1.19	1.21	-0.03
Calmar ratio Return relative to maximum drawdown	1.29	1.25	+0.03
Martin ratio Return relative to average drawdown	5.64	3.59	+2.05
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSLC vs. AVIE - Sharpe Ratio Comparison

The current MSLC Sharpe Ratio is 0.81, which is comparable to the AVIE Sharpe Ratio of 1.02. The chart below compares the historical Sharpe Ratios of MSLC and AVIE, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MSLC	AVIE	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.81	1.02	-0.21
Sharpe Ratio (All Time) Calculated using the full available price history	0.31	1.04	-0.73

Correlation

The correlation between MSLC and AVIE is 0.50, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MSLC vs. AVIE - Dividend Comparison

MSLC's dividend yield for the trailing twelve months is around 2.24%, more than AVIE's 1.48% yield.

	TTM	2025	2024	2023	2022
MSLC Morgan Stanley Pathway Large Cap Equity ETF	2.24%	2.15%	0.00%	0.00%	0.00%
AVIE Avantis Inflation Focused Equity ETF	1.48%	1.75%	1.89%	3.72%	0.39%

Drawdowns

MSLC vs. AVIE - Drawdown Comparison

The maximum MSLC drawdown since its inception was -17.86%, which is greater than AVIE's maximum drawdown of -12.39%. Use the drawdown chart below to compare losses from any high point for MSLC and AVIE.

Drawdown Indicators

	MSLC	AVIE	Difference
Max Drawdown Largest peak-to-trough decline	-17.86%	-12.39%	-5.47%
Max Drawdown (1Y) Largest decline over 1 year	-11.78%	-11.53%	-0.25%
Current Drawdown Current decline from peak	-6.16%	-2.70%	-3.46%
Average Drawdown Average peak-to-trough decline	-2.67%	-3.10%	+0.43%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.69%	4.02%	-1.33%

Volatility

MSLC vs. AVIE - Volatility Comparison

Morgan Stanley Pathway Large Cap Equity ETF (MSLC) has a higher volatility of 5.24% compared to Avantis Inflation Focused Equity ETF (AVIE) at 2.69%. This indicates that MSLC's price experiences larger fluctuations and is considered to be riskier than AVIE based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSLC	AVIE	Difference
Volatility (1M) Calculated over the trailing 1-month period	5.24%	2.69%	+2.55%
Volatility (6M) Calculated over the trailing 6-month period	9.35%	7.38%	+1.97%
Volatility (1Y) Calculated over the trailing 1-year period	18.32%	14.66%	+3.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	17.71%	13.10%	+4.61%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.71%	13.10%	+4.61%