MSTRX vs. MSTQX

Last updated Jun 3, 2026

MSTRX (Morningstar Total Return Bond Fund) and MSTQX (Morningstar U.S. Equity Fund) are both mutual funds - MSTRX is a Intermediate Core Bond fund managed by Morningstar, while MSTQX is a Large Cap Blend Equities fund managed by Morningstar. Over the past 5 years, MSTRX returned -0.83%/yr vs 5.98%/yr for MSTQX. At a 0.07 correlation, their price movements are largely independent. MSTRX charges 0.55%/yr vs 0.85%/yr for MSTQX.

Performance

MSTRX vs. MSTQX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morningstar Total Return Bond Fund (MSTRX) 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, MSTRX achieves a -0.26% return, which is significantly lower than MSTQX's 6.28% return.

MSTRX

• 1D: 0.00%
• 1M: 0.27%
• YTD: -0.26%
• 6M: -0.06%
• 1Y: 3.55%
• 3Y*: 3.08%
• 5Y*: -0.83%
• 10Y*: —

MSTQX

• 1D: 0.32%
• 1M: 2.75%
• YTD: 6.28%
• 6M: -9.83%
• 1Y: -0.65%
• 3Y*: 10.43%
• 5Y*: 5.98%
• 10Y*: —

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

MSTRX vs. MSTQX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MSTRX Morningstar Total Return Bond Fund	-0.26%	4.87%	1.75%	5.54%	-15.53%	-1.56%	9.57%	9.34%	2.40%
MSTQX Morningstar U.S. Equity Fund	6.28%	-5.56%	18.94%	25.24%	-16.29%	26.15%	10.49%	26.02%	-10.45%

Correlation

The correlation between MSTRX and MSTQX is 0.31, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.31
Correlation (3Y) Calculated over the trailing 3-year period	0.26
Correlation (5Y) Calculated over the trailing 5-year period	0.18
Correlation (All Time) Calculated using the full available price history since Nov 6, 2018	0.07

Over the past year, MSTRX and MSTQX have become more correlated (0.31) than their long-term average of 0.07, meaning their price movements have been converging.

Return for Risk

MSTRX vs. MSTQX — Risk / Return Rank

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

MSTRX

MSTRX Risk / Return Rank: 10
MSTRX Sharpe Ratio Rank: 12
MSTRX Sortino Ratio Rank: 12
MSTRX Omega Ratio Rank: 11
MSTRX Calmar Ratio Rank: 9
MSTRX Martin Ratio Rank: 8

MSTQX

MSTQX Risk / Return Rank: 3
MSTQX Sharpe Ratio Rank: 2
MSTQX Sortino Ratio Rank: 3
MSTQX Omega Ratio Rank: 3
MSTQX Calmar Ratio Rank: 3
MSTQX Martin Ratio Rank: 3

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.

MSTRX vs. MSTQX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morningstar Total Return Bond Fund (MSTRX) 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.

	MSTRX	MSTQX	Difference
Sharpe ratio Return per unit of total volatility	0.95	-0.03	+0.98
Sortino ratio Return per unit of downside risk	1.41	0.09	+1.32
Omega ratio Gain probability vs. loss probability	1.17	1.02	+0.15
Calmar ratio Return relative to maximum drawdown	0.99	0.18	+0.81
Martin ratio Return relative to average drawdown	2.43	0.42	+2.01
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSTRX vs. MSTQX - Sharpe Ratio Comparison

The current MSTRX Sharpe Ratio is 0.95, which is higher than the MSTQX Sharpe Ratio of -0.03. The chart below compares the historical Sharpe Ratios of MSTRX 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.

Sharpe Ratios by Period

	MSTRX	MSTQX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.95	-0.03	+0.98
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.14	0.34	-0.48
Sharpe Ratio (All Time) Calculated using the full available price history	0.33	0.47	-0.14

Drawdowns

MSTRX vs. MSTQX - Drawdown Comparison

The maximum MSTRX drawdown since its inception was -20.97%, smaller than the maximum MSTQX drawdown of -36.23%. Use the drawdown chart below to compare losses from any high point for MSTRX and MSTQX.

Drawdown Indicators

	MSTRX	MSTQX	Difference
Max Drawdown Largest peak-to-trough decline	-20.97%	-36.23%	+15.26%
Max Drawdown (1Y) Largest decline over 1 year	-3.06%	-21.58%	+18.52%
Max Drawdown (3Y) Largest decline over 3 years	-6.67%	-21.58%	+14.91%
Max Drawdown (5Y) Largest decline over 5 years	-20.77%	-23.61%	+2.84%
Current Drawdown Current decline from peak	-6.60%	-11.39%	+4.79%
Average Drawdown Average peak-to-trough decline	-7.12%	-6.24%	-0.88%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.25%	9.51%	-8.26%

Volatility

MSTRX vs. MSTQX - Volatility Comparison

The current volatility for Morningstar Total Return Bond Fund (MSTRX) is 1.41%, while Morningstar U.S. Equity Fund (MSTQX) has a volatility of 2.48%. This indicates that MSTRX 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

	MSTRX	MSTQX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.41%	2.48%	-1.07%
Volatility (6M) Calculated over the trailing 6-month period	2.80%	18.32%	-15.52%
Volatility (1Y) Calculated over the trailing 1-year period	4.24%	20.12%	-15.88%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.25%	18.59%	-12.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.66%	20.72%	-15.06%

MSTRX vs. MSTQX - Expense Ratio Comparison

MSTRX has a 0.55% expense ratio, which is lower than MSTQX's 0.85% expense ratio.

Dividends

MSTRX vs. MSTQX - Dividend Comparison

MSTRX's dividend yield for the trailing twelve months is around 2.60%, more than MSTQX's 0.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
MSTQX Morningstar U.S. Equity Fund	0.65%	0.69%	10.80%	4.21%	9.79%	15.98%	2.15%	2.04%	0.17%
MSTRX Morningstar Total Return Bond Fund	2.60%	2.60%	4.02%	3.42%	2.50%	2.13%	4.93%	5.23%	0.29%

Frequently Asked Questions

Can I hold both MSTRX and MSTQX in my portfolio?

MSTRX and MSTQX have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSTRX or MSTQX?

MSTQX has higher volatility (2.48%) compared to MSTRX (1.41%). In terms of maximum drawdown, MSTRX dropped -20.97% vs MSTQX's -36.23%.

Which has better risk-adjusted returns?

MSTRX currently has the higher Sharpe Ratio (0.95 vs -0.03), 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.