TALTX vs. MUIIX

Last updated Jun 4, 2026

TALTX (Morgan Stanley Pathway Funds Alternative Strategies Fund) and MUIIX (Morgan Stanley Institutional Fund Trust Ultra-Short Income Portfolio) are both mutual funds - TALTX is a Multistrategy fund managed by Morgan Stanley, while MUIIX is a Ultrashort Bond fund managed by Morgan Stanley. At a correlation of -0.87, they often move in opposite directions. TALTX charges 0.59%/yr vs 0.35%/yr for MUIIX.

Performance

TALTX vs. MUIIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX) and Morgan Stanley Institutional Fund Trust Ultra-Short Income Portfolio (MUIIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

TALTX

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

MUIIX

• 1D: 0.00%
• 1M: 0.32%
• YTD: 1.57%
• 6M: 1.91%
• 1Y: 4.22%
• 3Y*: 4.41%
• 5Y*: 3.25%
• 10Y*: —

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

TALTX vs. MUIIX - Yearly Performance Comparison

	2026 (YTD)
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	0.27%
MUIIX Morgan Stanley Institutional Fund Trust Ultra-Short Income Portfolio	0.32%

Correlation

The correlation between TALTX and MUIIX is -0.87, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	-0.87

Return for Risk

TALTX vs. MUIIX — Risk / Return Rank

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

MUIIX

MUIIX Risk / Return Rank: 99
MUIIX Sharpe Ratio Rank: 97
MUIIX Sortino Ratio Rank: 100
MUIIX Omega Ratio Rank: 100
MUIIX Calmar Ratio Rank: 100
MUIIX Martin Ratio Rank: 100

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. MUIIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX) and Morgan Stanley Institutional Fund Trust Ultra-Short Income Portfolio (MUIIX). 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.

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

Sharpe Ratios by Period

	TALTX	MUIIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.61	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	2.05	—
Sharpe Ratio (All Time) Calculated using the full available price history	21.79	1.90	+19.89

Drawdowns

TALTX vs. MUIIX - Drawdown Comparison

The maximum TALTX drawdown since its inception was 0.00%, smaller than the maximum MUIIX drawdown of -1.20%. Use the drawdown chart below to compare losses from any high point for TALTX and MUIIX.

Drawdown Indicators

	TALTX	MUIIX	Difference
Max Drawdown Largest peak-to-trough decline	0.00%	-1.20%	+1.20%
Max Drawdown (1Y) Largest decline over 1 year	—	-0.10%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-1.20%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-1.20%	—
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	0.00%	-0.06%	+0.06%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.03%	—

Volatility

Volatility by Period

	TALTX	MUIIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.35%	—
Volatility (6M) Calculated over the trailing 6-month period	—	0.78%	—
Volatility (1Y) Calculated over the trailing 1-year period	1.43%	1.17%	+0.26%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.43%	1.59%	-0.16%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.43%	1.44%	-0.01%

TALTX vs. MUIIX - Expense Ratio Comparison

TALTX has a 0.59% expense ratio, which is higher than MUIIX's 0.35% expense ratio.

Dividends

TALTX vs. MUIIX - Dividend Comparison

TALTX has not paid dividends to shareholders, while MUIIX's dividend yield for the trailing twelve months is around 4.03%.

Position	TTM	2025	2024	2023	2022	2021	2020
MUIIX Morgan Stanley Institutional Fund Trust Ultra-Short Income Portfolio	4.03%	4.36%	4.81%	3.88%	1.20%	0.10%	0.39%
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 TALTX and MUIIX in my portfolio?

TALTX and MUIIX 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.