RMDFX vs. TALTX

Last updated Jun 23, 2026

RMDFX (Aspiriant Defensive Allocation Fund) and TALTX (Morgan Stanley Pathway Funds Alternative Strategies Fund) are both Multistrategy funds. A 0.76 correlation means they provide meaningful diversification when combined. RMDFX charges 0.18%/yr vs 0.59%/yr for TALTX.

Performance

RMDFX vs. TALTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Aspiriant Defensive Allocation Fund (RMDFX) and Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

RMDFX

• 1D: 0.08%
• 1M: -0.08%
• YTD: 6.40%
• 6M: 6.58%
• 1Y: 18.52%
• 3Y*: 10.42%
• 5Y*: 5.51%
• 10Y*: 5.33%

TALTX

• 1D: 0.18%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

RMDFX vs. TALTX - Yearly Performance Comparison

	2026 (YTD)
RMDFX Aspiriant Defensive Allocation Fund	-0.32%
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	-0.09%

Correlation

The correlation between RMDFX and TALTX is 0.76, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.76

Return for Risk

RMDFX vs. TALTX — Risk / Return Rank

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

RMDFX

RMDFX Risk / Return Rank: 95
RMDFX Sharpe Ratio Rank: 99
RMDFX Sortino Ratio Rank: 97
RMDFX Omega Ratio Rank: 97
RMDFX Calmar Ratio Rank: 91
RMDFX Martin Ratio Rank: 91

TALTX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

RMDFX vs. TALTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Aspiriant Defensive Allocation Fund (RMDFX) 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.

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.

	RMDFX	TALTX	Difference
Sharpe ratio: Return per unit of total volatility	3.88	—	—
Sortino ratio: Return per unit of downside risk	5.37	—	—
Omega ratio: Gain probability vs. loss probability	1.84	—	—
Calmar ratio: Return relative to maximum drawdown	4.42	—	—
Martin ratio: Return relative to average drawdown	17.05	—	—

Drawdowns

RMDFX vs. TALTX - Drawdown Comparison

The maximum RMDFX drawdown since its inception was -15.96%, which is greater than TALTX's maximum drawdown of -0.99%. Use the drawdown chart below to compare losses from any high point for RMDFX and TALTX.

Drawdown Indicators

	RMDFX	TALTX	Difference
Max Drawdown Largest peak-to-trough decline	-15.96%	-0.99%	-14.97%
Max Drawdown (1Y) Largest decline over 1 year	-4.19%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-5.79%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-14.63%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-15.96%	—	—
Current Drawdown Current decline from peak	-0.94%	-0.36%	-0.58%
Average Drawdown Average peak-to-trough decline	-3.32%	-0.37%	-2.95%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.08%	—	—

Volatility

Volatility by Period

	RMDFX	TALTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.38%	—	—
Volatility (6M) Calculated over the trailing 6-month period	4.12%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.76%	3.92%	+0.84%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.34%	3.92%	+2.42%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.23%	3.92%	+2.31%

RMDFX vs. TALTX - Expense Ratio Comparison

RMDFX has a 0.18% expense ratio, which is lower than TALTX's 0.59% expense ratio.

Dividends

RMDFX vs. TALTX - Dividend Comparison

RMDFX's dividend yield for the trailing twelve months is around 4.36%, while TALTX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016
RMDFX Aspiriant Defensive Allocation Fund	4.36%	4.63%	0.00%	3.69%	0.78%	5.37%	2.28%	3.78%	4.11%	2.16%	1.16%
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%

Frequently Asked Questions

Can I hold both RMDFX and TALTX in my portfolio?

RMDFX and TALTX have a correlation of 0.76, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.