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TALTX vs. TMSRX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TALTX vs. TMSRX

Last updated Jun 24, 2026

TALTX (Morgan Stanley Pathway Funds Alternative Strategies Fund) and TMSRX (T. Rowe Price Multi-Strategy Total Return Fund) are both Multistrategy funds. TALTX charges 0.59%/yr vs 1.19%/yr for TMSRX.

Performance

TALTX vs. TMSRX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX) and T. Rowe Price Multi-Strategy Total Return Fund (TMSRX). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

TALTX

1D
0.00%
1M
—
YTD
—
6M
—
1Y
—
3Y*
—
5Y*
—
10Y*
—

TMSRX

1D
0.00%
1M
0.00%
YTD
0.41%
6M
0.53%
1Y
3.38%
3Y*
4.02%
5Y*
0.99%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

TALTX vs. TMSRX - Yearly Performance Comparison

2026 (YTD)
TALTX
Morgan Stanley Pathway Funds Alternative Strategies Fund		-0.09%
TMSRX
T. Rowe Price Multi-Strategy Total Return Fund		0.00%

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Morgan Stanley Pathway Funds Alternative Strategies Fund

T. Rowe Price Multi-Strategy Total Return Fund

Often compared with TALTX:
TALTX vs. SYMIXTALTX vs. FABZXTALTX vs. FCRIXTALTX vs. RMDFXTALTX vs. TNMAXTALTX vs. SRDAXTALTX vs. ADANX
Often compared with TMSRX:
TMSRX vs. RPIDXTMSRX vs. PSMIXTMSRX vs. QSPIXTMSRX vs. PSFFTMSRX vs. SYMIXTMSRX vs. ADANXTMSRX vs. CSQIX

Return for Risk

TALTX vs. TMSRX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments 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.

TMSRX
TMSRX Risk / Return Rank: 7979
Overall Rank
TMSRX Sharpe Ratio Rank: 6060
Sharpe Ratio Rank
TMSRX Sortino Ratio Rank: 6464
Sortino Ratio Rank
TMSRX Omega Ratio Rank: 9393
Omega Ratio Rank
TMSRX Calmar Ratio Rank: 8989
Calmar Ratio Rank
TMSRX Martin Ratio Rank: 9191
Martin Ratio Rank
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. TMSRX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Pathway Funds Alternative Strategies Fund (TALTX) and T. Rowe Price Multi-Strategy Total Return Fund (TMSRX). 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.

TALTXTMSRXDifference
Sharpe ratioReturn per unit of total volatility

—

2.10

—

Sortino ratioReturn per unit of downside risk

—

3.06

—

Omega ratioGain probability vs. loss probability

—

1.67

—

Calmar ratioReturn relative to maximum drawdown

—

4.22

—

Martin ratioReturn relative to average drawdown

—

17.05

—

TALTX vs. TMSRX - Sharpe Ratio Comparison

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Drawdowns

TALTX vs. TMSRX - Drawdown Comparison

The maximum TALTX drawdown since its inception was -0.99%, smaller than the maximum TMSRX drawdown of -10.67%. Use the drawdown chart below to compare losses from any high point for TALTX and TMSRX.

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Drawdown Indicators

TALTXTMSRXDifference

Max Drawdown

Largest peak-to-trough decline

-0.99%

-10.67%

+9.68%

Max Drawdown (1Y)

Largest decline over 1 year

—

-0.83%

—

Max Drawdown (3Y)

Largest decline over 3 years

—

-2.79%

—

Max Drawdown (5Y)

Largest decline over 5 years

—

-10.59%

—

Current Drawdown

Current decline from peak

-0.36%

-0.16%

-0.20%

Average Drawdown

Average peak-to-trough decline

-0.37%

-2.71%

+2.34%

Ulcer Index

Depth and duration of drawdowns from previous peaks

—

0.21%

—

Volatility

TALTX vs. TMSRX - Volatility Comparison

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Volatility by Period

TALTXTMSRXDifference

Volatility (1M)

Calculated over the trailing 1-month period

—

0.00%

—

Volatility (6M)

Calculated over the trailing 6-month period

—

0.66%

—

Volatility (1Y)

Calculated over the trailing 1-year period

3.80%

1.68%

+2.12%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.80%

2.75%

+1.05%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.80%

3.27%

+0.53%

TALTX vs. TMSRX - Expense Ratio Comparison

TALTX has a 0.59% expense ratio, which is lower than TMSRX's 1.19% expense ratio.

Dividends

TALTX vs. TMSRX - Dividend Comparison

TALTX has not paid dividends to shareholders, while TMSRX's dividend yield for the trailing twelve months is around 9.49%.

PositionTTM20252024202320222021202020192018
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%
TMSRX
T. Rowe Price Multi-Strategy Total Return Fund		9.49%7.59%6.72%5.95%2.29%2.88%3.35%3.00%3.56%
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