SRDAX vs. TALTX

Last updated Jun 4, 2026

SRDAX (Stone Ridge Diversified Alternatives Fund) and TALTX (Morgan Stanley Pathway Funds Alternative Strategies Fund) are both Multistrategy funds. A 0.50 correlation means they provide meaningful diversification when combined. SRDAX charges 1.27%/yr vs 0.59%/yr for TALTX.

Performance

SRDAX vs. TALTX - Performance Comparison

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

Returns By Period

SRDAX

• 1D: 0.39%
• 1M: 1.27%
• YTD: 5.17%
• 6M: 4.97%
• 1Y: 10.42%
• 3Y*: 7.93%
• 5Y*: 8.28%
• 10Y*: —

TALTX

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

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

SRDAX vs. TALTX - Yearly Performance Comparison

	2026 (YTD)
SRDAX Stone Ridge Diversified Alternatives Fund	0.58%
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	0.27%

Correlation

The correlation between SRDAX and TALTX is 0.50, 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 29, 2026	0.50

Return for Risk

SRDAX vs. TALTX — Risk / Return Rank

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

SRDAX

SRDAX Risk / Return Rank: 89
SRDAX Sharpe Ratio Rank: 94
SRDAX Sortino Ratio Rank: 94
SRDAX Omega Ratio Rank: 92
SRDAX Calmar Ratio Rank: 85
SRDAX Martin Ratio Rank: 83

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.

SRDAX vs. TALTX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Stone Ridge Diversified Alternatives Fund (SRDAX) 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.

	SRDAX	TALTX	Difference
Sharpe ratio: Return per unit of total volatility	3.30	—	—
Sortino ratio: Return per unit of downside risk	4.76	—	—
Omega ratio: Gain probability vs. loss probability	1.67	—	—
Calmar ratio: Return relative to maximum drawdown	4.00	—	—
Martin ratio: Return relative to average drawdown	15.69	—	—
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

	SRDAX	TALTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	3.30	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.19	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.25	21.79	-20.54

Drawdowns

SRDAX vs. TALTX - Drawdown Comparison

The maximum SRDAX drawdown since its inception was -11.90%, which is greater than TALTX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for SRDAX and TALTX.

Drawdown Indicators

	SRDAX	TALTX	Difference
Max Drawdown Largest peak-to-trough decline	-11.90%	0.00%	-11.90%
Max Drawdown (1Y) Largest decline over 1 year	-2.67%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-6.15%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-11.90%	—	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-2.34%	0.00%	-2.34%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.68%	—	—

Volatility

Volatility by Period

	SRDAX	TALTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.92%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.48%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.25%	1.43%	+1.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.99%	1.43%	+5.56%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	6.79%	1.43%	+5.36%

SRDAX vs. TALTX - Expense Ratio Comparison

SRDAX has a 1.27% expense ratio, which is higher than TALTX's 0.59% expense ratio.

Dividends

SRDAX vs. TALTX - Dividend Comparison

SRDAX's dividend yield for the trailing twelve months is around 8.11%, while TALTX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020
SRDAX Stone Ridge Diversified Alternatives Fund	8.11%	8.53%	8.16%	14.97%	3.22%	8.99%	3.07%
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both SRDAX and TALTX in my portfolio?

SRDAX and TALTX have a correlation of 0.50, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.