MSTBX vs. MSTQX

Last updated Aug 1, 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 2.30%/yr vs 6.04%/yr for MSTQX. Their 0.10 correlation means their historical movements had little consistent relationship. 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.

Returns By Period

In the year-to-date period, MSTBX achieves a 0.13% return, which is significantly lower than MSTQX's 7.20% return.

MSTBX

• 1D: 0.10%
• 1M: 0.10%
• 6M: -0.07%
• YTD: 0.13%
• 1Y: 1.88%
• 3Y*: 4.71%
• 5Y*: 2.30%
• 10Y*: —
• ALL TIME*: 2.76%

MSTQX

• 1D: 0.79%
• 1M: 0.63%
• 6M: 4.49%
• YTD: 7.20%
• 1Y: -4.75%
• 3Y*: 8.21%
• 5Y*: 6.04%
• 10Y*: —
• ALL TIME*: 9.28%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MSTBX Morningstar Defensive Bond Fund	$0.00	$0.00	$0.00
MSTQX Morningstar U.S. Equity Fund	$0.00	$0.00	$0.00

MSTBX vs. MSTQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MSTBX Morningstar Defensive Bond Fund	0.13%	5.19%	4.52%	7.16%	-4.73%	0.84%	4.75%	3.53%	0.39%
MSTQX Morningstar U.S. Equity Fund	7.20%	-5.56%	18.94%	25.24%	-16.29%	26.15%	10.49%	26.02%	-10.45%

Correlation

The correlation between MSTBX and MSTQX is 0.35, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.35
Correlation (3Y) Balances recent behavior with more history.	0.20
Correlation (5Y) Shows whether the relationship held over a longer period.	0.18
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 (0.35) than their long-term average of 0.10, meaning their price movements have been converging.

Return for Risk

MSTBX vs. MSTQX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MSTBX

MSTBX Risk / Return Rank: 31
MSTBX Sharpe Ratio Rank: 31
MSTBX Sortino Ratio Rank: 32
MSTBX Omega Ratio Rank: 33
MSTBX Calmar Ratio Rank: 36
MSTBX Martin Ratio Rank: 25

MSTQX

MSTQX Risk / Return Rank: 2
MSTQX Sharpe Ratio Rank: 2
MSTQX Sortino Ratio Rank: 2
MSTQX Omega Ratio Rank: 2
MSTQX Calmar Ratio Rank: 2
MSTQX Martin Ratio Rank: 2

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

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.

	MSTBX	MSTQX	Difference
Sharpe ratio: Return per unit of total volatility	1.05	-0.31	+1.36
Sortino ratio: Return per unit of downside risk	1.55	-0.24	+1.80
Omega ratio: Gain probability vs. loss probability	1.20	0.95	+0.25
Calmar ratio: Return relative to maximum drawdown	1.57	-0.29	+1.87
Martin ratio: Return relative to average drawdown	3.68	-0.55	+4.23

MSTBX vs. MSTQX - Sharpe Ratio Comparison

The current MSTBX Sharpe Ratio is 1.05, which is higher than the MSTQX Sharpe Ratio of -0.31. 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.

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.

Drawdown Indicators

	MSTBX	MSTQX	Difference
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	-0.67%	-10.62%	+9.95%
Average Drawdown Average peak-to-trough decline	-1.02%	-6.36%	+5.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.55%	10.43%	-9.88%

Volatility

MSTBX vs. MSTQX - Volatility Comparison

The current volatility for Morningstar Defensive Bond Fund (MSTBX) is 0.47%, while Morningstar U.S. Equity Fund (MSTQX) has a volatility of 2.92%. 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.

Volatility by Period

	MSTBX	MSTQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.47%	2.92%	-2.45%
Volatility (6M) Calculated over the trailing 6-month period	1.44%	8.91%	-7.47%
Volatility (1Y) Calculated over the trailing 1-year period	2.11%	20.12%	-18.01%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.40%	18.60%	-16.20%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.09%	20.56%	-18.47%

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 2.08%, more than MSTQX's 0.64% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
MSTBX Morningstar Defensive Bond Fund	2.08%	2.79%	4.23%	3.80%	2.64%	2.64%	3.17%	2.69%	0.29%
MSTQX Morningstar U.S. Equity Fund	0.64%	0.69%	10.80%	4.21%	9.79%	15.98%	2.15%	2.04%	0.17%

Frequently Asked Questions

Can I hold both MSTBX and MSTQX in my portfolio?

MSTBX and MSTQX have a correlation of 0.35, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSTBX or MSTQX?

MSTQX has higher volatility (2.92%) compared to MSTBX (0.47%). In terms of maximum drawdown, MSTBX dropped -6.31% vs MSTQX's -36.23%.

Which has better risk-adjusted returns?

MSTBX currently has the higher Sharpe Ratio (1.05 vs -0.31), 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.