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MSTBX vs. MSTQX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MSTBX vs. MSTQX

Last updated Jun 24, 2026

MSTBX (Morningstar Defensive Bond Fund) and MSTQX (Morningstar U.S. Equity Fund) are both mutual funds - MSTBX is a Short-Term Bond fund managed by Morningstar, while MSTQX is a Large Cap Blend Equities fund managed by Morningstar. Over the past 5 years, MSTBX returned 2.34%/yr vs 5.71%/yr for MSTQX. At a 0.10 correlation, their price movements are largely independent. MSTBX charges 0.52%/yr vs 0.85%/yr for MSTQX.

Performance

MSTBX vs. MSTQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morningstar Defensive Bond Fund (MSTBX) and Morningstar U.S. Equity Fund (MSTQX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, MSTBX achieves a -0.22% return, which is significantly lower than MSTQX's 4.35% return.

MSTBX

1D
-0.10%
1M
0.03%
YTD
-0.22%
6M
-0.00%
1Y
2.05%
3Y*
4.72%
5Y*
2.34%
10Y*
—

MSTQX

1D
-0.64%
1M
-0.16%
YTD
4.35%
6M
3.42%
1Y
-3.57%
3Y*
9.29%
5Y*
5.71%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

MSTBX vs. MSTQX - Yearly Performance Comparison

2026 (YTD)20252024202320222021202020192018
MSTBX
Morningstar Defensive Bond Fund		-0.22%5.19%4.52%7.16%-4.73%0.84%4.75%3.53%0.39%
MSTQX
Morningstar U.S. Equity Fund		4.35%-5.56%18.94%25.24%-16.29%26.15%10.49%26.02%-10.45%

Correlation

The correlation between MSTBX and MSTQX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.33

Correlation (3Y)
Calculated over the trailing 3-year period

0.20

Correlation (5Y)
Calculated over the trailing 5-year period

0.17

Correlation (All Time)
Calculated using the full available price history since Nov 5, 2018

0.10

Over the past year, MSTBX and MSTQX have become more correlated (0.33) than their long-term average of 0.10, meaning their price movements have been converging.

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Morningstar Defensive Bond Fund

Morningstar U.S. Equity Fund

Often compared with MSTBX:
MSTBX vs. MSTGXMSTBX vs. MSTRXMSTBX vs. MSTMXMSTBX vs. MSTFXMSTBX vs. MSTSXMSTBX vs. MSTPXMSTBX vs. MSTVX
Often compared with MSTQX:
MSTQX vs. ICVTMSTQX vs. VOOMSTQX vs. MSTVXMSTQX vs. MSTSXMSTQX vs. MSCIMSTQX vs. MSTFXMSTQX vs. MSTMX

Return for Risk

MSTBX vs. MSTQX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MSTBX
MSTBX Risk / Return Rank: 2626
Overall Rank
MSTBX Sharpe Ratio Rank: 2424
Sharpe Ratio Rank
MSTBX Sortino Ratio Rank: 2525
Sortino Ratio Rank
MSTBX Omega Ratio Rank: 2626
Omega Ratio Rank
MSTBX Calmar Ratio Rank: 3232
Calmar Ratio Rank
MSTBX Martin Ratio Rank: 2323
Martin Ratio Rank
MSTQX
MSTQX Risk / Return Rank: 22
Overall Rank
MSTQX Sharpe Ratio Rank: 22
Sharpe Ratio Rank
MSTQX Sortino Ratio Rank: 22
Sortino Ratio Rank
MSTQX Omega Ratio Rank: 22
Omega Ratio Rank
MSTQX Calmar Ratio Rank: 22
Calmar Ratio Rank
MSTQX Martin Ratio Rank: 22
Martin Ratio Rank
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.

MSTBX vs. MSTQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morningstar Defensive Bond Fund (MSTBX) and Morningstar U.S. Equity Fund (MSTQX). 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.

MSTBXMSTQXDifference
Sharpe ratioReturn per unit of total volatility
1.30
-0.18

+1.47

Sortino ratioReturn per unit of downside risk
1.96
-0.08

+2.04

Omega ratioGain probability vs. loss probability

1.25

0.98

+0.27

Calmar ratioReturn relative to maximum drawdown

1.99

-0.17

+2.15

Martin ratioReturn relative to average drawdown

5.24

-0.33

+5.57

MSTBX vs. MSTQX - Sharpe Ratio Comparison

The current MSTBX Sharpe Ratio is 1.30, which is higher than the MSTQX Sharpe Ratio of -0.18. The chart below compares the historical Sharpe Ratios of MSTBX and MSTQX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Drawdowns

MSTBX vs. MSTQX - Drawdown Comparison

The maximum MSTBX drawdown since its inception was -6.31%, smaller than the maximum MSTQX drawdown of -36.23%. Use the drawdown chart below to compare losses from any high point for MSTBX and MSTQX.

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Drawdown Indicators

MSTBXMSTQXDifference

Max Drawdown

Largest peak-to-trough decline

-6.31%

-36.23%

+29.92%

Max Drawdown (1Y)

Largest decline over 1 year

-1.41%

-21.58%

+20.17%

Max Drawdown (3Y)

Largest decline over 3 years

-1.42%

-21.58%

+20.16%

Max Drawdown (5Y)

Largest decline over 5 years

-6.31%

-23.61%

+17.30%

Current Drawdown

Current decline from peak

-1.02%

-13.00%

+11.98%

Average Drawdown

Average peak-to-trough decline

-1.02%

-6.28%

+5.26%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.54%

9.74%

-9.20%

Volatility

MSTBX vs. MSTQX - Volatility Comparison

The current volatility for Morningstar Defensive Bond Fund (MSTBX) is 0.67%, while Morningstar U.S. Equity Fund (MSTQX) has a volatility of 3.95%. This indicates that MSTBX experiences smaller price fluctuations and is considered to be less risky than MSTQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

MSTBXMSTQXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.67%

3.95%

-3.28%

Volatility (6M)

Calculated over the trailing 6-month period

1.47%

18.44%

-16.97%

Volatility (1Y)

Calculated over the trailing 1-year period

2.16%

20.29%

-18.13%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.39%

18.63%

-16.24%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

2.09%

20.68%

-18.59%

MSTBX vs. MSTQX - Expense Ratio Comparison

MSTBX has a 0.52% expense ratio, which is lower than MSTQX's 0.85% expense ratio.

Dividends

MSTBX vs. MSTQX - Dividend Comparison

MSTBX's dividend yield for the trailing twelve months is around 2.46%, more than MSTQX's 0.66% yield.

PositionTTM20252024202320222021202020192018
MSTBX
Morningstar Defensive Bond Fund		2.46%2.79%4.23%3.80%2.64%2.64%3.17%2.69%0.29%
MSTQX
Morningstar U.S. Equity Fund		0.66%0.69%10.80%4.21%9.79%15.98%2.15%2.04%0.17%

Frequently Asked Questions

MSTBX and MSTQX have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MSTQX has higher volatility (3.95%) compared to MSTBX (0.67%). In terms of maximum drawdown, MSTBX dropped -6.31% vs MSTQX's -36.23%.

MSTBX currently has the higher Sharpe Ratio (1.30 vs -0.18), 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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