MSLC vs. SPCT

Last updated Jul 15, 2026

MSLC (Morgan Stanley Pathway Large Cap Equity ETF) and SPCT (Liberty One Spectrum ETF) are both Large Cap Blend Equities funds. Both are actively managed. A 0.52 correlation means they provide meaningful diversification when combined. MSLC charges 0.39%/yr vs 0.85%/yr for SPCT.

Performance

MSLC vs. SPCT - Performance Comparison

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

Returns By Period

The year-to-date returns for both stocks are quite close, with MSLC having a 8.99% return and SPCT slightly lower at 8.90%.

MSLC

• 1D: 0.32%
• 1M: 1.75%
• 6M: 7.05%
• YTD: 8.99%
• 1Y: 17.43%
• 3Y*: —
• 5Y*: —
• 10Y*: —

SPCT

• 1D: -0.13%
• 1M: 0.99%
• 6M: 6.70%
• YTD: 8.90%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSLC vs. SPCT - Yearly Performance Comparison

	2026 (YTD)	2025
MSLC Morgan Stanley Pathway Large Cap Equity ETF	8.99%	2.52%
SPCT Liberty One Spectrum ETF	8.90%	1.93%

Correlation

The correlation between MSLC and SPCT is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Sep 30, 2025	0.52

Return for Risk

MSLC vs. SPCT — Risk / Return Rank

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

MSLC

MSLC Risk / Return Rank: 51
MSLC Sharpe Ratio Rank: 51
MSLC Sortino Ratio Rank: 49
MSLC Omega Ratio Rank: 50
MSLC Calmar Ratio Rank: 46
MSLC Martin Ratio Rank: 57

SPCT

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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. SPCT - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Pathway Large Cap Equity ETF (MSLC) and Liberty One Spectrum ETF (SPCT). 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.

Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.

	MSLC	SPCT	Difference
Sharpe ratio: Return per unit of total volatility	1.42	—	—
Sortino ratio: Return per unit of downside risk	1.99	—	—
Omega ratio: Gain probability vs. loss probability	1.26	—	—
Calmar ratio: Return relative to maximum drawdown	1.88	—	—
Martin ratio: Return relative to average drawdown	7.93	—	—

Drawdowns

MSLC vs. SPCT - Drawdown Comparison

The maximum MSLC drawdown since its inception was -17.86%, which is greater than SPCT's maximum drawdown of -7.17%. Use the drawdown chart below to compare losses from any high point for MSLC and SPCT.

Drawdown Indicators

	MSLC	SPCT	Difference
Max Drawdown Largest peak-to-trough decline	-17.86%	-7.17%	-10.69%
Max Drawdown (1Y) Largest decline over 1 year	-9.31%	—	—
Current Drawdown Current decline from peak	-0.42%	-0.49%	+0.07%
Average Drawdown Average peak-to-trough decline	-2.40%	-1.50%	-0.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.20%	—	—

Volatility

Volatility by Period

	MSLC	SPCT	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.38%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	12.29%	9.26%	+3.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.92%	9.26%	+7.66%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	16.92%	9.26%	+7.66%

MSLC vs. SPCT - Expense Ratio Comparison

MSLC has a 0.39% expense ratio, which is lower than SPCT's 0.85% expense ratio.

Dividends

MSLC vs. SPCT - Dividend Comparison

MSLC's dividend yield for the trailing twelve months is around 1.97%, more than SPCT's 0.74% yield.

Position	TTM	2025
MSLC Morgan Stanley Pathway Large Cap Equity ETF	1.97%	2.15%
SPCT Liberty One Spectrum ETF	0.74%	0.16%

Frequently Asked Questions

Can I hold both MSLC and SPCT in my portfolio?

MSLC and SPCT have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MSLC or SPCT?

On fees, MSLC is cheaper at 0.39% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MSLC or SPCT?

MSLC is cheaper with a 0.39% expense ratio, compared with 0.85% for SPCT.

Which ETF pays a higher dividend yield, MSLC or SPCT?

MSLC has the higher dividend yield at 1.97%, compared with 0.74% for SPCT.

What is the main difference between MSLC and SPCT?

They also come from different issuers: Morgan Stanley and Liberty One. Their fees differ too: 0.39% for MSLC and 0.85% for SPCT.