TIFUX vs. TPINX
TIFUX (Morgan Stanley Pathway Funds International Fixed Income Fund) and TPINX (Templeton Global Bond Fund) are both Global Bonds funds. Over the past 10 years, TIFUX returned 1.83%/yr vs 0.20%/yr for TPINX. At a 0.39 correlation, their price movements are largely independent. TIFUX charges 0.88%/yr vs 0.94%/yr for TPINX.
Performance
TIFUX vs. TPINX - Performance Comparison
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Returns By Period
In the year-to-date period, TIFUX achieves a 0.44% return, which is significantly lower than TPINX's 1.28% return. Over the past 10 years, TIFUX has outperformed TPINX with an annualized return of 1.83%, while TPINX has yielded a comparatively lower 0.20% annualized return.
TIFUX
- 1D
- 0.00%
- 1M
- 1.64%
- YTD
- 0.44%
- 6M
- 1.04%
- 1Y
- 2.10%
- 3Y*
- 4.17%
- 5Y*
- 0.16%
- 10Y*
- 1.83%
TPINX
- 1D
- -0.42%
- 1M
- 0.17%
- YTD
- 1.28%
- 6M
- 1.92%
- 1Y
- 5.74%
- 3Y*
- 1.61%
- 5Y*
- -0.77%
- 10Y*
- 0.20%
TIFUX vs. TPINX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TIFUX Morgan Stanley Pathway Funds International Fixed Income Fund | 0.44% | 3.16% | 3.93% | 8.35% | -13.21% | -2.88% | 5.88% | 7.52% | 2.21% | 3.08% |
TPINX Templeton Global Bond Fund | 1.28% | 15.02% | -11.95% | 2.45% | -6.17% | -5.06% | -4.41% | 0.63% | 1.26% | 2.36% |
Correlation
The correlation between TIFUX and TPINX is 0.54, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.54 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.44 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.37 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.23 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 1991 | 0.39 |
The correlation between TIFUX and TPINX shifts across timeframes, from 0.23 (10 years) to 0.54 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TIFUX vs. TPINX — Risk / Return Rank
TIFUX
TPINX
TIFUX vs. TPINX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Pathway Funds International Fixed Income Fund (TIFUX) and Templeton Global Bond Fund (TPINX). 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.
| TIFUX | TPINX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.32 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 1.14 | -0.03 |
| Calmar ratioReturn relative to maximum drawdown | 0.60 | 0.86 | -0.26 |
| Martin ratioReturn relative to average drawdown | 1.59 | 2.65 | -1.05 |
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Drawdowns
TIFUX vs. TPINX - Drawdown Comparison
The maximum TIFUX drawdown since its inception was -17.74%, smaller than the maximum TPINX drawdown of -26.45%. Use the drawdown chart below to compare losses from any high point for TIFUX and TPINX.
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Drawdown Indicators
| TIFUX | TPINX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.74% | -26.45% | +8.71% |
Max Drawdown (1Y)Largest decline over 1 year | -3.92% | -6.36% | +2.44% |
Max Drawdown (3Y)Largest decline over 3 years | -3.92% | -13.03% | +9.11% |
Max Drawdown (5Y)Largest decline over 5 years | -15.98% | -18.19% | +2.21% |
Max Drawdown (10Y)Largest decline over 10 years | -16.69% | -26.45% | +9.76% |
Current DrawdownCurrent decline from peak | -1.76% | -13.78% | +12.02% |
Average DrawdownAverage peak-to-trough decline | -4.17% | -4.85% | +0.68% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.41% | 2.06% | -0.65% |
Volatility
TIFUX vs. TPINX - Volatility Comparison
The current volatility for Morgan Stanley Pathway Funds International Fixed Income Fund (TIFUX) is 1.21%, while Templeton Global Bond Fund (TPINX) has a volatility of 2.11%. This indicates that TIFUX experiences smaller price fluctuations and is considered to be less risky than TPINX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIFUX | TPINX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.21% | 2.11% | -0.90% |
Volatility (6M)Calculated over the trailing 6-month period | 3.77% | 6.11% | -2.34% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.50% | 7.36% | -2.86% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 7.25% | 8.15% | -0.90% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.53% | 7.26% | -1.73% |
TIFUX vs. TPINX - Expense Ratio Comparison
TIFUX has a 0.88% expense ratio, which is lower than TPINX's 0.94% expense ratio.
Dividends
TIFUX vs. TPINX - Dividend Comparison
TIFUX's dividend yield for the trailing twelve months is around 2.67%, less than TPINX's 5.07% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TIFUX Morgan Stanley Pathway Funds International Fixed Income Fund | 2.67% | 2.68% | 2.40% | 0.84% | 9.55% | 2.64% | 0.72% | 4.76% | 3.53% | 1.22% | 1.10% | 7.04% |
TPINX Templeton Global Bond Fund | 5.07% | 4.29% | 5.77% | 3.87% | 5.17% | 5.38% | 4.59% | 6.12% | 6.53% | 3.34% | 2.33% | 3.11% |
Frequently Asked Questions
TIFUX and TPINX have a correlation of 0.54, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TPINX has higher volatility (2.11%) compared to TIFUX (1.21%). In terms of maximum drawdown, TIFUX dropped -17.74% vs TPINX's -26.45%.
TPINX currently has the higher Sharpe Ratio (0.74 vs 0.52), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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