SHRIX vs. TALTX

Last updated Jun 4, 2026

SHRIX (Stone Ridge High Yield Reinsurance Risk Premium Fund Class I) and TALTX (Morgan Stanley Pathway Funds Alternative Strategies Fund) are both Multistrategy funds. Their correlation of 0.87 suggests significant overlap in exposure. SHRIX charges 1.76%/yr vs 0.59%/yr for TALTX.

Performance

SHRIX vs. TALTX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Stone Ridge High Yield Reinsurance Risk Premium Fund Class I (SHRIX) and Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

SHRIX

• 1D: 0.00%
• 1M: 0.67%
• YTD: 1.46%
• 6M: 2.18%
• 1Y: 12.44%
• 3Y*: 13.31%
• 5Y*: 9.03%
• 10Y*: —

TALTX

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

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

SHRIX vs. TALTX - Yearly Performance Comparison

	2026 (YTD)
SHRIX Stone Ridge High Yield Reinsurance Risk Premium Fund Class I	0.11%
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	0.27%

Correlation

The correlation between SHRIX and TALTX is 0.87, 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	0.87

Return for Risk

SHRIX vs. TALTX — Risk / Return Rank

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

SHRIX

SHRIX Risk / Return Rank: 98
SHRIX Sharpe Ratio Rank: 99
SHRIX Sortino Ratio Rank: 98
SHRIX Omega Ratio Rank: 100
SHRIX Calmar Ratio Rank: 97
SHRIX 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.

SHRIX vs. TALTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Stone Ridge High Yield Reinsurance Risk Premium Fund Class I (SHRIX) 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.

	SHRIX	TALTX	Difference
Sharpe ratio: Return per unit of total volatility	5.28	—	—
Sortino ratio: Return per unit of downside risk	6.10	—	—
Omega ratio: Gain probability vs. loss probability	4.89	—	—
Calmar ratio: Return relative to maximum drawdown	6.67	—	—
Martin ratio: Return relative to average drawdown	23.33	—	—
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

	SHRIX	TALTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	5.28	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.45	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.93	21.79	-20.86

Drawdowns

SHRIX vs. TALTX - Drawdown Comparison

The maximum SHRIX drawdown since its inception was -14.34%, which is greater than TALTX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for SHRIX and TALTX.

Drawdown Indicators

	SHRIX	TALTX	Difference
Max Drawdown Largest peak-to-trough decline	-14.34%	0.00%	-14.34%
Max Drawdown (1Y) Largest decline over 1 year	-1.87%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-6.91%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-12.69%	—	—
Current Drawdown Current decline from peak	-0.44%	0.00%	-0.44%
Average Drawdown Average peak-to-trough decline	-2.06%	0.00%	-2.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.53%	—	—

Volatility

Volatility by Period

	SHRIX	TALTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.25%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.03%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.37%	1.43%	+0.94%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.26%	1.43%	+4.83%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.29%	1.43%	+4.86%

SHRIX vs. TALTX - Expense Ratio Comparison

SHRIX has a 1.76% expense ratio, which is higher than TALTX's 0.59% expense ratio.

Dividends

SHRIX vs. TALTX - Dividend Comparison

SHRIX's dividend yield for the trailing twelve months is around 10.77%, while TALTX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
SHRIX Stone Ridge High Yield Reinsurance Risk Premium Fund Class I	10.77%	10.92%	14.34%	12.34%	3.89%	4.61%	6.34%	5.06%	5.09%	0.35%
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%

Frequently Asked Questions

Can I hold both SHRIX and TALTX in my portfolio?

SHRIX and TALTX have a correlation of 0.87, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.