TALTX vs. FCRIX

Last updated Apr 1, 2026

Compare and contrast key facts about Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX) and FS Credit Income Fund Class I (FCRIX).

TALTX is managed by Morgan Stanley. It was launched on Feb 14, 2018. FCRIX is an actively managed fund by FS Investments. It was launched on Nov 1, 2017.

Performance

TALTX vs. FCRIX - Performance Comparison

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

TALTX vs. FCRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	0.75%	5.51%	3.53%	8.27%	-2.29%	5.33%	5.20%	1.79%
FCRIX FS Credit Income Fund Class I	0.85%	7.88%	9.57%	11.96%	-10.70%	7.50%	8.27%	2.47%

Returns By Period

In the year-to-date period, TALTX achieves a 0.75% return, which is significantly lower than FCRIX's 0.85% return.

TALTX

• 1D: 0.00%
• 1M: -2.09%
• YTD: 0.75%
• 6M: 2.15%
• 1Y: 5.40%
• 3Y*: 5.84%
• 5Y*: 3.73%
• 10Y*: —

FCRIX

• 1D: 0.00%
• 1M: -0.25%
• YTD: 0.85%
• 6M: 2.90%
• 1Y: 7.38%
• 3Y*: 9.04%
• 5Y*: 4.50%
• 10Y*: —

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

TALTX vs. FCRIX - Expense Ratio Comparison

TALTX has a 0.59% expense ratio, which is lower than FCRIX's 2.37% expense ratio.

FCRIX

FS Credit Income Fund Class I

TALTX

Morgan Stanley Pathway Funds Alternative Strategies Fund

Return for Risk

TALTX vs. FCRIX — Risk / Return Rank

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

TALTX

TALTX Risk / Return Rank: 49
TALTX Sharpe Ratio Rank: 65
TALTX Sortino Ratio Rank: 60
TALTX Omega Ratio Rank: 72
TALTX Calmar Ratio Rank: 24
TALTX Martin Ratio Rank: 27

FCRIX

FCRIX Risk / Return Rank: 98
FCRIX Sharpe Ratio Rank: 96
FCRIX Sortino Ratio Rank: 99
FCRIX Omega Ratio Rank: 99
FCRIX Calmar Ratio Rank: 99
FCRIX Martin Ratio Rank: 98

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.

TALTX vs. FCRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX) and FS Credit Income Fund Class I (FCRIX). 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.

	TALTX	FCRIX	Difference
Sharpe ratio Return per unit of total volatility	1.16	2.49	-1.33
Sortino ratio Return per unit of downside risk	1.56	6.31	-4.75
Omega ratio Gain probability vs. loss probability	1.27	2.39	-1.12
Calmar ratio Return relative to maximum drawdown	0.69	5.76	-5.07
Martin ratio Return relative to average drawdown	2.86	23.57	-20.70
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

TALTX vs. FCRIX - Sharpe Ratio Comparison

The current TALTX Sharpe Ratio is 1.16, which is lower than the FCRIX Sharpe Ratio of 2.49. The chart below compares the historical Sharpe Ratios of TALTX and FCRIX, offering insights into how both investments have performed under varying market conditions. These values are calculated using daily returns over the previous 12 months.

Sharpe Ratios by Period

	TALTX	FCRIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.16	2.49	-1.33
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.82	1.08	-0.26
Sharpe Ratio (All Time) Calculated using the full available price history	0.91	0.83	+0.07

Correlation

The correlation between TALTX and FCRIX is 0.47, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.

Dividends

TALTX vs. FCRIX - Dividend Comparison

TALTX's dividend yield for the trailing twelve months is around 4.30%, less than FCRIX's 9.52% yield.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	4.30%	4.34%	2.45%	3.11%	6.63%	0.69%	0.85%	3.12%	0.74%
FCRIX FS Credit Income Fund Class I	9.52%	10.54%	8.27%	5.56%	3.25%	5.62%	5.72%	2.91%	0.00%

Drawdowns

TALTX vs. FCRIX - Drawdown Comparison

The maximum TALTX drawdown since its inception was -14.24%, smaller than the maximum FCRIX drawdown of -26.74%. Use the drawdown chart below to compare losses from any high point for TALTX and FCRIX.

Drawdown Indicators

	TALTX	FCRIX	Difference
Max Drawdown Largest peak-to-trough decline	-14.24%	-26.74%	+12.50%
Max Drawdown (1Y) Largest decline over 1 year	-5.15%	-1.31%	-3.84%
Max Drawdown (5Y) Largest decline over 5 years	-6.38%	-15.33%	+8.95%
Current Drawdown Current decline from peak	-2.09%	-0.25%	-1.84%
Average Drawdown Average peak-to-trough decline	-1.37%	-3.28%	+1.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.54%	0.34%	+1.20%

Volatility

TALTX vs. FCRIX - Volatility Comparison

Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX) has a higher volatility of 0.96% compared to FS Credit Income Fund Class I (FCRIX) at 0.22%. This indicates that TALTX's price experiences larger fluctuations and is considered to be riskier than FCRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TALTX	FCRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.96%	0.22%	+0.74%
Volatility (6M) Calculated over the trailing 6-month period	2.56%	2.06%	+0.50%
Volatility (1Y) Calculated over the trailing 1-year period	5.36%	3.33%	+2.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.68%	4.20%	+0.48%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.73%	6.48%	-1.75%