TALTX vs. FABZX

Last updated Aug 1, 2026

TALTX (Morgan Stanley Pathway Funds Alternative Strategies Fund) and FABZX (Franklin K2 Alternative Strategies Fund) are both Multistrategy funds. Their 0.70 correlation means they have sometimes moved together and sometimes differently. TALTX charges 0.59%/yr vs 1.95%/yr for FABZX.

Performance

TALTX vs. FABZX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX) and Franklin K2 Alternative Strategies Fund (FABZX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TALTX

• 1D: 0.27%
• 1M: 0.00%
• 6M: —
• YTD: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

FABZX

• 1D: 0.26%
• 1M: -0.60%
• 6M: 3.19%
• YTD: 4.68%
• 1Y: 9.65%
• 3Y*: 8.50%
• 5Y*: 3.72%
• 10Y*: 4.14%
• ALL TIME*: 4.04%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
FABZX Franklin K2 Alternative Strategies Fund	$0.00	$0.00	$0.00
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	$0.00	$0.00	$0.00

TALTX vs. FABZX - Yearly Performance Comparison

	2026 (YTD)
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	-0.18%
FABZX Franklin K2 Alternative Strategies Fund	0.09%

Correlation

The correlation between TALTX and FABZX is 0.70, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 28, 2026	0.70

Return for Risk

TALTX vs. FABZX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

TALTX

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

FABZX

FABZX Risk / Return Rank: 92
FABZX Sharpe Ratio Rank: 90
FABZX Sortino Ratio Rank: 90
FABZX Omega Ratio Rank: 86
FABZX Calmar Ratio Rank: 98
FABZX Martin Ratio Rank: 97

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

TALTX vs. FABZX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX) and Franklin K2 Alternative Strategies Fund (FABZX). 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.

	TALTX	FABZX	Difference
Sharpe ratio: Return per unit of total volatility	—	2.28	—
Sortino ratio: Return per unit of downside risk	—	3.40	—
Omega ratio: Gain probability vs. loss probability	—	1.43	—
Calmar ratio: Return relative to maximum drawdown	—	6.29	—
Martin ratio: Return relative to average drawdown	—	19.61	—

Drawdowns

TALTX vs. FABZX - Drawdown Comparison

The maximum TALTX drawdown since its inception was -0.99%, smaller than the maximum FABZX drawdown of -11.03%. Use the drawdown chart below to compare losses from any high point for TALTX and FABZX.

Drawdown Indicators

	TALTX	FABZX	Difference
Max Drawdown Largest peak-to-trough decline	-0.99%	-11.03%	+10.04%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.49%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-3.50%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-11.03%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-11.03%	—
Current Drawdown Current decline from peak	-0.45%	-1.10%	+0.65%
Average Drawdown Average peak-to-trough decline	-0.44%	-2.36%	+1.92%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.47%	—

Volatility

Volatility by Period

	TALTX	FABZX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.20%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.15%	—
Volatility (1Y) Calculated over the trailing 1-year period	3.19%	4.10%	-0.91%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.19%	3.92%	-0.73%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.19%	4.09%	-0.90%

TALTX vs. FABZX - Expense Ratio Comparison

TALTX has a 0.59% expense ratio, which is lower than FABZX's 1.95% expense ratio.

Dividends

TALTX vs. FABZX - Dividend Comparison

TALTX has not paid dividends to shareholders, while FABZX's dividend yield for the trailing twelve months is around 6.71%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
FABZX Franklin K2 Alternative Strategies Fund	6.71%	7.02%	11.80%	0.70%	3.10%	4.90%	0.80%	0.90%	2.33%	1.56%	0.77%	1.89%
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 TALTX and FABZX in my portfolio?

TALTX and FABZX have a correlation of 0.70, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.