MSTRX vs. MSTVX
MSTRX (Morningstar Total Return Bond Fund) and MSTVX (Morningstar Alternatives Fund) are both mutual funds - MSTRX is a Intermediate Core Bond fund managed by Morningstar, while MSTVX is a Multistrategy fund managed by Morningstar. Over the past 5 years, MSTRX returned -1.36%/yr vs 4.01%/yr for MSTVX. Their 0.30 correlation means their historical movements had little consistent relationship. MSTRX charges 0.55%/yr vs 1.15%/yr for MSTVX.
Performance
MSTRX vs. MSTVX - Performance Comparison
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Returns By Period
In the year-to-date period, MSTRX achieves a -0.93% return, which is significantly lower than MSTVX's 1.98% return.
MSTRX
- 1D
- 0.00%
- 1M
- -0.79%
- 6M
- -1.15%
- YTD
- -0.93%
- 1Y
- 1.29%
- 3Y*
- 2.92%
- 5Y*
- -1.36%
- 10Y*
- —
- ALL TIME*
- 1.69%
MSTVX
- 1D
- 0.19%
- 1M
- 0.09%
- 6M
- 1.31%
- YTD
- 1.98%
- 1Y
- 4.86%
- 3Y*
- 6.45%
- 5Y*
- 4.01%
- 10Y*
- —
- ALL TIME*
- 4.19%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MSTRX vs. MSTVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MSTRX Morningstar Total Return Bond Fund | -0.93% | 4.87% | 1.75% | 5.54% | -15.53% | -1.56% | 9.57% | 9.34% | 2.40% |
MSTVX Morningstar Alternatives Fund | 1.98% | 6.42% | 6.37% | 6.86% | -2.69% | 4.20% | 3.81% | 5.82% | -0.05% |
Correlation
The correlation between MSTRX and MSTVX is 0.55, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.55 |
Correlation (3Y) Balances recent behavior with more history. | 0.52 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.43 |
Correlation (All Time) Calculated using the full available price history since Nov 5, 2018 | 0.30 |
Over the past year, MSTRX and MSTVX have become more correlated (0.55) than their long-term average of 0.30, meaning their price movements have been converging.
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Return for Risk
MSTRX vs. MSTVX — Risk / Return Rank
MSTRX
MSTVX
MSTRX vs. MSTVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morningstar Total Return Bond Fund (MSTRX) and Morningstar Alternatives Fund (MSTVX). 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.
| MSTRX | MSTVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.21 | ||
| Sortino ratioReturn per unit of downside risk | -3.51 | ||
| Omega ratioGain probability vs. loss probability | 1.08 | 1.54 | -0.46 |
| Calmar ratioReturn relative to maximum drawdown | 0.56 | 3.28 | -2.72 |
| Martin ratioReturn relative to average drawdown | 1.28 | 8.08 | -6.80 |
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Drawdowns
MSTRX vs. MSTVX - Drawdown Comparison
The maximum MSTRX drawdown since its inception was -20.97%, which is greater than MSTVX's maximum drawdown of -8.02%. Use the drawdown chart below to compare losses from any high point for MSTRX and MSTVX.
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Drawdown Indicators
| MSTRX | MSTVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.97% | -8.02% | -12.95% |
Max Drawdown (1Y)Largest decline over 1 year | -3.06% | -1.84% | -1.22% |
Max Drawdown (3Y)Largest decline over 3 years | -5.57% | -3.31% | -2.26% |
Max Drawdown (5Y)Largest decline over 5 years | -20.77% | -5.89% | -14.88% |
Current DrawdownCurrent decline from peak | -7.23% | -0.28% | -6.95% |
Average DrawdownAverage peak-to-trough decline | -7.10% | -1.17% | -5.93% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.24% | 0.68% | +0.56% |
Volatility
MSTRX vs. MSTVX - Volatility Comparison
Morningstar Total Return Bond Fund (MSTRX) has a higher volatility of 0.97% compared to Morningstar Alternatives Fund (MSTVX) at 0.57%. This indicates that MSTRX's price experiences larger fluctuations and is considered to be riskier than MSTVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSTRX | MSTVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.97% | 0.57% | +0.40% |
Volatility (6M)Calculated over the trailing 6-month period | 2.78% | 1.77% | +1.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.04% | 2.29% | +1.75% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.26% | 3.16% | +3.10% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.62% | 3.13% | +2.49% |
MSTRX vs. MSTVX - Expense Ratio Comparison
MSTRX has a 0.55% expense ratio, which is lower than MSTVX's 1.15% expense ratio.
Dividends
MSTRX vs. MSTVX - Dividend Comparison
MSTRX's dividend yield for the trailing twelve months is around 2.47%, less than MSTVX's 3.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 |
|---|---|---|---|---|---|---|---|---|---|
MSTRX Morningstar Total Return Bond Fund | 2.47% | 2.60% | 4.02% | 3.42% | 2.50% | 2.13% | 4.93% | 5.23% | 0.29% |
MSTVX Morningstar Alternatives Fund | 3.34% | 3.41% | 3.07% | 3.86% | 3.92% | 4.99% | 2.91% | 1.74% | 0.25% |
Frequently Asked Questions
MSTRX and MSTVX have a correlation of 0.55, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTRX has higher volatility (0.97%) compared to MSTVX (0.57%). In terms of maximum drawdown, MSTRX dropped -20.97% vs MSTVX's -8.02%.
MSTVX currently has the higher Sharpe Ratio (2.64 vs 0.43), 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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