TIIUX vs. MACGX
TIIUX (Morgan Stanley Pathway Funds Core Fixed Income Fund) and MACGX (Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A) are both mutual funds - TIIUX is a Intermediate Core Bond fund managed by Morgan Stanley, while MACGX is a Mid Cap Growth Equities fund managed by Morgan Stanley. Over the past 10 years, TIIUX returned 1.19%/yr vs 13.03%/yr for MACGX. Their -0.07 correlation means they have often moved in opposite directions in the past. TIIUX charges 0.54%/yr vs 1.00%/yr for MACGX.
Performance
TIIUX vs. MACGX - Performance Comparison
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Returns By Period
In the year-to-date period, TIIUX achieves a -0.61% return, which is significantly higher than MACGX's -3.13% return. Over the past 10 years, TIIUX has underperformed MACGX with an annualized return of 1.19%, while MACGX has yielded a comparatively higher 13.03% annualized return.
TIIUX
- 1D
- 0.15%
- 1M
- -1.54%
- 6M
- -0.90%
- YTD
- -0.61%
- 1Y
- 1.98%
- 3Y*
- 3.05%
- 5Y*
- -1.09%
- 10Y*
- 1.19%
- ALL TIME*
- 3.91%
MACGX
- 1D
- -0.19%
- 1M
- -3.02%
- 6M
- -4.00%
- YTD
- -3.13%
- 1Y
- -11.41%
- 3Y*
- 19.23%
- 5Y*
- -7.12%
- 10Y*
- 13.03%
- ALL TIME*
- 9.63%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
TIIUX vs. MACGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TIIUX Morgan Stanley Pathway Funds Core Fixed Income Fund | -0.61% | 5.77% | 0.61% | 5.90% | -14.72% | -1.70% | 8.67% | 9.76% | -0.45% | 3.67% |
MACGX Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A | -3.13% | 13.71% | 42.06% | 46.30% | -63.51% | -12.84% | 142.01% | 39.41% | 11.85% | 38.99% |
Correlation
The correlation between TIIUX and MACGX is 0.26, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.26 |
Correlation (3Y) Balances recent behavior with more history. | 0.20 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.20 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.12 |
Correlation (All Time) Calculated using the full available price history since Jan 31, 1997 | -0.07 |
The correlation between TIIUX and MACGX shifts across timeframes, from -0.07 (all time) to 0.26 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TIIUX vs. MACGX — Risk / Return Rank
TIIUX
MACGX
TIIUX vs. MACGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Pathway Funds Core Fixed Income Fund (TIIUX) and Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A (MACGX). 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.
| TIIUX | MACGX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.91 | ||
| Sortino ratioReturn per unit of downside risk | +1.15 | ||
| Omega ratioGain probability vs. loss probability | 1.10 | 0.96 | +0.14 |
| Calmar ratioReturn relative to maximum drawdown | 0.76 | -0.40 | +1.16 |
| Martin ratioReturn relative to average drawdown | 1.74 | -0.79 | +2.53 |
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Drawdowns
TIIUX vs. MACGX - Drawdown Comparison
The maximum TIIUX drawdown since its inception was -20.21%, smaller than the maximum MACGX drawdown of -77.61%. Use the drawdown chart below to compare losses from any high point for TIIUX and MACGX.
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Drawdown Indicators
| TIIUX | MACGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.21% | -77.61% | +57.40% |
Max Drawdown (1Y)Largest decline over 1 year | -2.85% | -27.55% | +24.70% |
Max Drawdown (3Y)Largest decline over 3 years | -6.39% | -28.55% | +22.16% |
Max Drawdown (5Y)Largest decline over 5 years | -20.00% | -77.61% | +57.61% |
Max Drawdown (10Y)Largest decline over 10 years | -20.21% | -77.61% | +57.40% |
Current DrawdownCurrent decline from peak | -6.11% | -46.15% | +40.04% |
Average DrawdownAverage peak-to-trough decline | -2.42% | -25.73% | +23.31% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.20% | 13.80% | -12.60% |
Volatility
TIIUX vs. MACGX - Volatility Comparison
The current volatility for Morgan Stanley Pathway Funds Core Fixed Income Fund (TIIUX) is 0.80%, while Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A (MACGX) has a volatility of 6.84%. This indicates that TIIUX experiences smaller price fluctuations and is considered to be less risky than MACGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TIIUX | MACGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.80% | 6.84% | -6.04% |
Volatility (6M)Calculated over the trailing 6-month period | 2.81% | 22.01% | -19.20% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.05% | 28.96% | -24.91% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.26% | 48.39% | -42.13% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.16% | 39.45% | -34.29% |
TIIUX vs. MACGX - Expense Ratio Comparison
TIIUX has a 0.54% expense ratio, which is lower than MACGX's 1.00% expense ratio.
Dividends
TIIUX vs. MACGX - Dividend Comparison
TIIUX's dividend yield for the trailing twelve months is around 3.37%, while MACGX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MACGX Morgan Stanley Institutional Fund Trust Discovery Portfolio Class A | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 52.53% | 9.95% | 15.34% | 29.46% | 48.48% | 75.72% | 14.05% |
TIIUX Morgan Stanley Pathway Funds Core Fixed Income Fund | 3.37% | 2.92% | 4.51% | 3.91% | 2.88% | 2.36% | 5.77% | 3.08% | 2.93% | 2.49% | 3.60% | 3.34% |
Frequently Asked Questions
TIIUX and MACGX have a correlation of 0.26, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MACGX has higher volatility (6.84%) compared to TIIUX (0.80%). In terms of maximum drawdown, TIIUX dropped -20.21% vs MACGX's -77.61%.
TIIUX currently has the higher Sharpe Ratio (0.54 vs -0.38), 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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