PSMIX vs. TALTX

Last updated Jun 5, 2026

PSMIX (Principal Global Multi-Strategy Fund) and TALTX (Morgan Stanley Pathway Funds Alternative Strategies Fund) are both Multistrategy funds. Their correlation of 0.80 suggests significant overlap in exposure. PSMIX charges 1.63%/yr vs 0.59%/yr for TALTX.

Performance

PSMIX vs. TALTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Principal Global Multi-Strategy Fund (PSMIX) and Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PSMIX

• 1D: -0.24%
• 1M: 1.15%
• YTD: 5.41%
• 6M: 6.23%
• 1Y: 14.49%
• 3Y*: 9.84%
• 5Y*: 6.00%
• 10Y*: 5.25%

TALTX

• 1D: -0.09%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PSMIX vs. TALTX - Yearly Performance Comparison

	2026 (YTD)
PSMIX Principal Global Multi-Strategy Fund	0.24%
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	0.18%

Correlation

The correlation between PSMIX and TALTX is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	0.80

Return for Risk

PSMIX vs. TALTX — Risk / Return Rank

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

PSMIX

PSMIX Risk / Return Rank: 96
PSMIX Sharpe Ratio Rank: 98
PSMIX Sortino Ratio Rank: 97
PSMIX Omega Ratio Rank: 94
PSMIX Calmar Ratio Rank: 96
PSMIX Martin Ratio Rank: 96

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.

PSMIX vs. TALTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Principal Global Multi-Strategy Fund (PSMIX) and Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX). 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.

	PSMIX	TALTX	Difference
Sharpe ratio: Return per unit of total volatility	3.79	—	—
Sortino ratio: Return per unit of downside risk	5.68	—	—
Omega ratio: Gain probability vs. loss probability	1.76	—	—
Calmar ratio: Return relative to maximum drawdown	6.07	—	—
Martin ratio: Return relative to average drawdown	25.25	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PSMIX	TALTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.79	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.34	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.14	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.15	7.52	-7.37

Drawdowns

PSMIX vs. TALTX - Drawdown Comparison

The maximum PSMIX drawdown since its inception was -55.50%, which is greater than TALTX's maximum drawdown of -0.09%. Use the drawdown chart below to compare losses from any high point for PSMIX and TALTX.

Drawdown Indicators

	PSMIX	TALTX	Difference
Max Drawdown Largest peak-to-trough decline	-55.50%	-0.09%	-55.41%
Max Drawdown (1Y) Largest decline over 1 year	-2.41%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-5.01%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-6.39%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-55.50%	—	—
Current Drawdown Current decline from peak	-24.76%	-0.09%	-24.67%
Average Drawdown Average peak-to-trough decline	-26.59%	-0.02%	-26.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.58%	—	—

Volatility

Volatility by Period

	PSMIX	TALTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.08%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.92%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.87%	1.84%	+2.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.51%	1.84%	+2.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	38.09%	1.84%	+36.25%

PSMIX vs. TALTX - Expense Ratio Comparison

PSMIX has a 1.63% expense ratio, which is higher than TALTX's 0.59% expense ratio.

Dividends

PSMIX vs. TALTX - Dividend Comparison

PSMIX's dividend yield for the trailing twelve months is around 5.24%, while TALTX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSMIX Principal Global Multi-Strategy Fund	5.24%	5.53%	1.66%	3.51%	12.10%	4.04%	1.68%	0.00%	6.52%	2.91%	0.15%	3.02%
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both PSMIX and TALTX in my portfolio?

PSMIX and TALTX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.