SQIFX vs. TSDUX
SQIFX (Sit Quality Income Fund) and TSDUX (Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund) are both Ultrashort Bond funds. Over the past 10 years, SQIFX returned 2.08%/yr vs 2.68%/yr for TSDUX. At a correlation of -0.06, they often move in opposite directions. SQIFX charges 0.90%/yr vs 0.62%/yr for TSDUX.
Performance
SQIFX vs. TSDUX - Performance Comparison
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Returns By Period
In the year-to-date period, SQIFX achieves a 0.33% return, which is significantly lower than TSDUX's 1.77% return. Over the past 10 years, SQIFX has underperformed TSDUX with an annualized return of 2.08%, while TSDUX has yielded a comparatively higher 2.68% annualized return.
SQIFX
- 1D
- 0.00%
- 1M
- 0.43%
- YTD
- 0.33%
- 6M
- 0.70%
- 1Y
- 3.72%
- 3Y*
- 4.28%
- 5Y*
- 2.28%
- 10Y*
- 2.08%
TSDUX
- 1D
- 0.00%
- 1M
- 0.37%
- YTD
- 1.77%
- 6M
- 1.88%
- 1Y
- 3.17%
- 3Y*
- 4.86%
- 5Y*
- 3.41%
- 10Y*
- 2.68%
SQIFX vs. TSDUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
SQIFX Sit Quality Income Fund | 0.33% | 6.32% | 3.93% | 3.39% | -2.68% | 1.24% | 2.89% | 3.13% | 0.90% | 1.16% |
TSDUX Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund | 1.77% | 3.24% | 6.04% | 5.94% | 0.41% | -0.11% | 2.06% | 2.65% | 1.64% | 1.73% |
Correlation
The correlation between SQIFX and TSDUX is 0.12, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.12 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.02 |
Correlation (5Y) Calculated over the trailing 5-year period | -0.08 |
Correlation (10Y) Calculated over the trailing 10-year period | -0.06 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2016 | -0.06 |
The correlation between SQIFX and TSDUX shifts across timeframes, from -0.08 (5 years) to 0.12 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
SQIFX vs. TSDUX — Risk / Return Rank
SQIFX
TSDUX
SQIFX vs. TSDUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Sit Quality Income Fund (SQIFX) and Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund (TSDUX). 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.
| SQIFX | TSDUX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.99 | ||
| Sortino ratioReturn per unit of downside risk | -2.20 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 3.14 | -1.79 |
| Calmar ratioReturn relative to maximum drawdown | 2.49 | 8.75 | -6.26 |
| Martin ratioReturn relative to average drawdown | 8.96 | 28.64 | -19.68 |
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Drawdowns
SQIFX vs. TSDUX - Drawdown Comparison
The maximum SQIFX drawdown since its inception was -4.22%, which is greater than TSDUX's maximum drawdown of -3.94%. Use the drawdown chart below to compare losses from any high point for SQIFX and TSDUX.
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Drawdown Indicators
| SQIFX | TSDUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -4.22% | -3.94% | -0.28% |
Max Drawdown (1Y)Largest decline over 1 year | -1.55% | -0.41% | -1.14% |
Max Drawdown (3Y)Largest decline over 3 years | -1.55% | -0.73% | -0.82% |
Max Drawdown (5Y)Largest decline over 5 years | -4.22% | -1.72% | -2.50% |
Max Drawdown (10Y)Largest decline over 10 years | -4.22% | -3.94% | -0.28% |
Current DrawdownCurrent decline from peak | -0.52% | 0.00% | -0.52% |
Average DrawdownAverage peak-to-trough decline | -0.45% | -0.19% | -0.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.43% | 0.13% | +0.30% |
Volatility
SQIFX vs. TSDUX - Volatility Comparison
Sit Quality Income Fund (SQIFX) has a higher volatility of 0.72% compared to Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund (TSDUX) at 0.17%. This indicates that SQIFX's price experiences larger fluctuations and is considered to be riskier than TSDUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| SQIFX | TSDUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | 0.17% | +0.55% |
Volatility (6M)Calculated over the trailing 6-month period | 1.63% | 0.52% | +1.11% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.26% | 0.97% | +1.29% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.34% | 1.11% | +1.23% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.80% | 1.09% | +0.71% |
SQIFX vs. TSDUX - Expense Ratio Comparison
SQIFX has a 0.90% expense ratio, which is higher than TSDUX's 0.62% expense ratio.
Dividends
SQIFX vs. TSDUX - Dividend Comparison
SQIFX's dividend yield for the trailing twelve months is around 3.88%, more than TSDUX's 2.91% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
SQIFX Sit Quality Income Fund | 3.88% | 4.21% | 3.96% | 2.78% | 3.42% | 1.23% | 1.13% | 1.95% | 1.82% | 1.16% | 0.89% | 0.95% |
TSDUX Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund | 2.91% | 3.09% | 5.03% | 1.55% | 6.36% | 0.60% | 1.65% | 2.84% | 2.66% | 2.22% | 1.87% | 0.00% |
Frequently Asked Questions
SQIFX and TSDUX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
SQIFX has higher volatility (0.72%) compared to TSDUX (0.17%). In terms of maximum drawdown, SQIFX dropped -4.22% vs TSDUX's -3.94%.
TSDUX currently has the higher Sharpe Ratio (3.69 vs 1.70), 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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