MSTVX vs. MSTFX

Last updated Apr 1, 2026

Compare and contrast key facts about Morningstar Alternatives Fund (MSTVX) and Morningstar International Equity Fund (MSTFX).

MSTVX is managed by Morningstar. It was launched on Nov 1, 2018. MSTFX is managed by Morningstar. It was launched on Nov 2, 2018.

Performance

MSTVX vs. MSTFX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morningstar Alternatives Fund (MSTVX) and Morningstar International Equity Fund (MSTFX). The values are adjusted to include any dividend payments, if applicable.

MSTVX vs. MSTFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MSTVX Morningstar Alternatives Fund	0.56%	6.42%	6.37%	6.86%	-2.69%	4.20%	3.81%	5.82%	-0.05%
MSTFX Morningstar International Equity Fund	-1.79%	16.75%	1.29%	15.57%	-15.36%	7.25%	8.99%	22.90%	-5.75%

Returns By Period

In the year-to-date period, MSTVX achieves a 0.56% return, which is significantly higher than MSTFX's -1.79% return.

MSTVX

• 1D: 0.19%
• 1M: -1.66%
• YTD: 0.56%
• 6M: 2.36%
• 1Y: 4.49%
• 3Y*: 6.60%
• 5Y*: 3.95%
• 10Y*: —

MSTFX

• 1D: -0.99%
• 1M: -11.16%
• YTD: -1.79%
• 6M: -7.76%
• 1Y: 7.76%
• 3Y*: 7.12%
• 5Y*: 2.98%
• 10Y*: —

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

MSTVX vs. MSTFX - Expense Ratio Comparison

MSTVX has a 1.15% expense ratio, which is higher than MSTFX's 1.00% expense ratio.

MSTVX

Morningstar Alternatives Fund

MSTFX

Morningstar International Equity Fund

Return for Risk

MSTVX vs. MSTFX — Risk / Return Rank

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

MSTVX

MSTVX Risk / Return Rank: 79
MSTVX Sharpe Ratio Rank: 71
MSTVX Sortino Ratio Rank: 69
MSTVX Omega Ratio Rank: 87
MSTVX Calmar Ratio Rank: 76
MSTVX Martin Ratio Rank: 92

MSTFX

MSTFX Risk / Return Rank: 22
MSTFX Sharpe Ratio Rank: 13
MSTFX Sortino Ratio Rank: 12
MSTFX Omega Ratio Rank: 14
MSTFX Calmar Ratio Rank: 36
MSTFX Martin Ratio Rank: 35

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.

MSTVX vs. MSTFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morningstar Alternatives Fund (MSTVX) and Morningstar International Equity Fund (MSTFX). 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.

	MSTVX	MSTFX	Difference
Sharpe ratio Return per unit of total volatility	1.25	0.32	+0.93
Sortino ratio Return per unit of downside risk	1.71	0.55	+1.16
Omega ratio Gain probability vs. loss probability	1.37	1.09	+0.28
Calmar ratio Return relative to maximum drawdown	1.78	0.98	+0.80
Martin ratio Return relative to average drawdown	11.22	3.72	+7.50
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSTVX vs. MSTFX - Sharpe Ratio Comparison

The current MSTVX Sharpe Ratio is 1.25, which is higher than the MSTFX Sharpe Ratio of 0.32. The chart below compares the historical Sharpe Ratios of MSTVX and MSTFX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	MSTVX	MSTFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.25	0.32	+0.93
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.32	0.19	+1.14
Sharpe Ratio (All Time) Calculated using the full available price history	1.37	0.32	+1.05

Correlation

The correlation between MSTVX and MSTFX is 0.48, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

MSTVX vs. MSTFX - Dividend Comparison

MSTVX's dividend yield for the trailing twelve months is around 3.39%, more than MSTFX's 2.61% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
MSTVX Morningstar Alternatives Fund	3.39%	3.41%	3.07%	3.86%	3.92%	4.99%	2.91%	1.74%	0.25%
MSTFX Morningstar International Equity Fund	2.61%	2.56%	4.80%	2.38%	3.60%	15.59%	2.76%	2.65%	0.27%

Drawdowns

MSTVX vs. MSTFX - Drawdown Comparison

The maximum MSTVX drawdown since its inception was -8.02%, smaller than the maximum MSTFX drawdown of -35.86%. Use the drawdown chart below to compare losses from any high point for MSTVX and MSTFX.

Drawdown Indicators

	MSTVX	MSTFX	Difference
Max Drawdown Largest peak-to-trough decline	-8.02%	-35.86%	+27.84%
Max Drawdown (1Y) Largest decline over 1 year	-3.21%	-11.37%	+8.16%
Max Drawdown (5Y) Largest decline over 5 years	-5.89%	-31.51%	+25.62%
Current Drawdown Current decline from peak	-1.66%	-11.37%	+9.71%
Average Drawdown Average peak-to-trough decline	-1.17%	-7.91%	+6.74%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.52%	3.66%	-3.14%

Volatility

MSTVX vs. MSTFX - Volatility Comparison

The current volatility for Morningstar Alternatives Fund (MSTVX) is 0.87%, while Morningstar International Equity Fund (MSTFX) has a volatility of 5.07%. This indicates that MSTVX experiences smaller price fluctuations and is considered to be less risky than MSTFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSTVX	MSTFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.87%	5.07%	-4.20%
Volatility (6M) Calculated over the trailing 6-month period	1.53%	13.78%	-12.25%
Volatility (1Y) Calculated over the trailing 1-year period	4.70%	20.41%	-15.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.13%	16.83%	-13.70%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.15%	19.09%	-15.94%