MSLC vs. ITOT
MSLC (Morgan Stanley Pathway Large Cap Equity ETF) and ITOT (iShares Core S&P Total U.S. Stock Market ETF) are both Large Cap Blend Equities funds. MSLC is actively managed, while ITOT is passively managed. Over the past year, MSLC returned 22.69% vs 28.12% for ITOT. With a 0.98 correlation, they move nearly in lockstep. MSLC charges 0.39%/yr vs 0.03%/yr for ITOT.
Performance
MSLC vs. ITOT - Performance Comparison
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Returns By Period
In the year-to-date period, MSLC achieves a 8.55% return, which is significantly lower than ITOT's 11.25% return.
MSLC
- 1D
- -0.82%
- 1M
- 4.08%
- YTD
- 8.55%
- 6M
- 8.69%
- 1Y
- 22.69%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
ITOT
- 1D
- -0.73%
- 1M
- 5.01%
- YTD
- 11.25%
- 6M
- 11.12%
- 1Y
- 28.12%
- 3Y*
- 22.09%
- 5Y*
- 12.69%
- 10Y*
- 15.01%
MSLC vs. ITOT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | |
|---|---|---|---|
MSLC Morgan Stanley Pathway Large Cap Equity ETF | 8.55% | 15.68% | -3.29% |
ITOT iShares Core S&P Total U.S. Stock Market ETF | 11.25% | 17.00% | -3.26% |
Correlation
The correlation between MSLC and ITOT is 0.99 - 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 | 0.99 |
Correlation (All Time) Calculated using the full available price history since Dec 10, 2024 | 0.98 |
The correlation between MSLC and ITOT has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
MSLC vs. ITOT — Risk / Return Rank
MSLC
ITOT
MSLC vs. ITOT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Pathway Large Cap Equity ETF (MSLC) and iShares Core S&P Total U.S. Stock Market ETF (ITOT). 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 | ITOT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.38 | ||
| Sortino ratioReturn per unit of downside risk | -0.49 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 1.42 | -0.07 |
| Calmar ratioReturn relative to maximum drawdown | 2.45 | 3.17 | -0.73 |
| Martin ratioReturn relative to average drawdown | 10.76 | 14.57 | -3.81 |
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
| MSLC | ITOT | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.94 | 2.32 | -0.38 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | — | 0.74 | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.82 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.83 | 0.57 | +0.26 |
Drawdowns
MSLC vs. ITOT - Drawdown Comparison
The maximum MSLC drawdown since its inception was -17.86%, smaller than the maximum ITOT drawdown of -55.20%. Use the drawdown chart below to compare losses from any high point for MSLC and ITOT.
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Drawdown Indicators
| MSLC | ITOT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.86% | -55.20% | +37.34% |
Max Drawdown (1Y)Largest decline over 1 year | -9.31% | -8.90% | -0.41% |
Max Drawdown (3Y)Largest decline over 3 years | — | -19.44% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.36% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -35.00% | — |
Current DrawdownCurrent decline from peak | -0.82% | -0.73% | -0.09% |
Average DrawdownAverage peak-to-trough decline | -2.46% | -6.97% | +4.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.11% | 1.94% | +0.17% |
Volatility
MSLC vs. ITOT - Volatility Comparison
Morgan Stanley Pathway Large Cap Equity ETF (MSLC) and iShares Core S&P Total U.S. Stock Market ETF (ITOT) have volatilities of 2.87% and 2.99%, 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
| MSLC | ITOT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.87% | 2.99% | -0.12% |
Volatility (6M)Calculated over the trailing 6-month period | 8.86% | 9.13% | -0.27% |
Volatility (1Y)Calculated over the trailing 1-year period | 11.77% | 12.20% | -0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.11% | 17.36% | -0.25% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.11% | 18.26% | -1.15% |
MSLC vs. ITOT - Expense Ratio Comparison
MSLC has a 0.39% expense ratio, which is higher than ITOT's 0.03% expense ratio.
Dividends
MSLC vs. ITOT - Dividend Comparison
MSLC's dividend yield for the trailing twelve months is around 1.98%, more than ITOT's 0.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
ITOT iShares Core S&P Total U.S. Stock Market ETF | 0.98% | 1.11% | 1.23% | 1.47% | 1.66% | 1.18% | 1.41% | 1.88% | 2.14% | 1.69% | 1.83% | 2.01% |
MSLC Morgan Stanley Pathway Large Cap Equity ETF | 1.98% | 2.15% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.99, MSLC and ITOT 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.
ITOT has higher volatility (2.99%) compared to MSLC (2.87%). In terms of maximum drawdown, MSLC dropped -17.86% vs ITOT's -55.20%.
On 1-year performance, ITOT leads with 28.12% vs 22.69% for MSLC. On fees, ITOT is cheaper at 0.03% per year. On volatility, MSLC has been the lower-risk option at 2.87%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 1-year period, ITOT has performed better with a 28.12% return vs 22.69%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
ITOT is cheaper with a 0.03% expense ratio, compared with 0.39% for MSLC.
MSLC has the higher dividend yield at 1.98%, compared with 0.98% for ITOT.
They also come from different issuers: Morgan Stanley and iShares. Their fees differ too: 0.39% for MSLC and 0.03% for ITOT.
ITOT currently has the higher Sharpe Ratio (2.32 vs 1.94), 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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