TALTX vs. PSMIX

Last updated Jun 5, 2026

TALTX (Morgan Stanley Pathway Funds Alternative Strategies Fund) and PSMIX (Principal Global Multi-Strategy Fund) are both Multistrategy funds. Their correlation of 0.80 suggests significant overlap in exposure. TALTX charges 0.59%/yr vs 1.63%/yr for PSMIX.

Performance

TALTX vs. PSMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX) and Principal Global Multi-Strategy Fund (PSMIX). 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*: —

PSMIX

• 1D: -0.24%
• 1M: 1.15%
• YTD: 5.41%
• 6M: 6.23%
• 1Y: 14.49%
• 3Y*: 9.84%
• 5Y*: 6.00%
• 10Y*: 5.25%

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

TALTX vs. PSMIX - Yearly Performance Comparison

	2026 (YTD)
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	0.18%
PSMIX Principal Global Multi-Strategy Fund	0.24%

Correlation

The correlation between TALTX and PSMIX is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since May 29, 2026	0.80

Return for Risk

TALTX vs. PSMIX — Risk / Return Rank

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

PSMIX

PSMIX Risk / Return Rank: 96
PSMIX Sharpe Ratio Rank: 98
PSMIX Sortino Ratio Rank: 97
PSMIX Omega Ratio Rank: 94
PSMIX Calmar Ratio Rank: 96
PSMIX Martin Ratio Rank: 96

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. PSMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX) and Principal Global Multi-Strategy Fund (PSMIX). 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	PSMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	3.79	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	1.34	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.14	—
Sharpe Ratio (All Time) Calculated using the full available price history	7.52	0.15	+7.37

Drawdowns

TALTX vs. PSMIX - Drawdown Comparison

The maximum TALTX drawdown since its inception was -0.09%, smaller than the maximum PSMIX drawdown of -55.50%. Use the drawdown chart below to compare losses from any high point for TALTX and PSMIX.

Drawdown Indicators

	TALTX	PSMIX	Difference
Max Drawdown Largest peak-to-trough decline	-0.09%	-55.50%	+55.41%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.41%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-5.01%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-6.39%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-55.50%	—
Current Drawdown Current decline from peak	-0.09%	-24.76%	+24.67%
Average Drawdown Average peak-to-trough decline	-0.02%	-26.59%	+26.57%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.58%	—

Volatility

Volatility by Period

	TALTX	PSMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.08%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.92%	—
Volatility (1Y) Calculated over the trailing 1-year period	1.84%	3.87%	-2.03%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.84%	4.51%	-2.67%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.84%	38.09%	-36.25%

TALTX vs. PSMIX - Expense Ratio Comparison

TALTX has a 0.59% expense ratio, which is lower than PSMIX's 1.63% expense ratio.

Dividends

TALTX vs. PSMIX - Dividend Comparison

TALTX has not paid dividends to shareholders, while PSMIX's dividend yield for the trailing twelve months is around 5.24%.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
PSMIX Principal Global Multi-Strategy Fund	5.24%	5.53%	1.66%	3.51%	12.10%	4.04%	1.68%	0.00%	6.52%	2.91%	0.15%	3.02%
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 PSMIX in my portfolio?

TALTX and PSMIX have a correlation of 0.80, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.