TIIUX vs. TRLVX

Last updated Jul 8, 2026

TIIUX (Morgan Stanley Pathway Funds Core Fixed Income Fund) and TRLVX (SEI Institutional Managed Trust Core Fixed Income Fund) are both Intermediate Core Bond funds. Over the past 10 years, TIIUX returned 1.26%/yr vs 1.37%/yr for TRLVX. Their correlation of 0.88 suggests significant overlap in exposure. TIIUX charges 0.54%/yr vs 0.66%/yr for TRLVX.

Performance

TIIUX vs. TRLVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Pathway Funds Core Fixed Income Fund (TIIUX) and SEI Institutional Managed Trust Core Fixed Income Fund (TRLVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, TIIUX achieves a 0.58% return, which is significantly higher than TRLVX's 0.36% return. Over the past 10 years, TIIUX has underperformed TRLVX with an annualized return of 1.26%, while TRLVX has yielded a comparatively higher 1.37% annualized return.

TIIUX

• 1D: 0.00%
• 1M: 0.68%
• 6M: 0.72%
• YTD: 0.58%
• 1Y: 3.51%
• 3Y*: 3.92%
• 5Y*: -0.83%
• 10Y*: 1.26%

TRLVX

• 1D: 0.00%
• 1M: 0.73%
• 6M: 0.36%
• YTD: 0.36%
• 1Y: 4.12%
• 3Y*: 4.35%
• 5Y*: -0.76%
• 10Y*: 1.37%

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

TIIUX vs. TRLVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
TIIUX Morgan Stanley Pathway Funds Core Fixed Income Fund	0.58%	5.77%	0.61%	5.90%	-14.72%	-1.70%	8.67%	9.76%	-0.45%	3.67%
TRLVX SEI Institutional Managed Trust Core Fixed Income Fund	0.36%	7.06%	0.83%	5.92%	-15.66%	-1.63%	9.04%	9.25%	-0.47%	4.15%

Correlation

The correlation between TIIUX and TRLVX is 0.81, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.81
Correlation (3Y) Calculated over the trailing 3-year period	0.89
Correlation (5Y) Calculated over the trailing 5-year period	0.91
Correlation (10Y) Calculated over the trailing 10-year period	0.91
Correlation (All Time) Calculated using the full available price history since Nov 18, 1991	0.88

The correlation between TIIUX and TRLVX shifts across timeframes, from 0.81 (1 year) to 0.91 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

TIIUX vs. TRLVX — Risk / Return Rank

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

TIIUX

TIIUX Risk / Return Rank: 16
TIIUX Sharpe Ratio Rank: 15
TIIUX Sortino Ratio Rank: 15
TIIUX Omega Ratio Rank: 16
TIIUX Calmar Ratio Rank: 19
TIIUX Martin Ratio Rank: 15

TRLVX

TRLVX Risk / Return Rank: 18
TRLVX Sharpe Ratio Rank: 19
TRLVX Sortino Ratio Rank: 19
TRLVX Omega Ratio Rank: 17
TRLVX Calmar Ratio Rank: 18
TRLVX Martin Ratio Rank: 16

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.

TIIUX vs. TRLVX - 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 SEI Institutional Managed Trust Core Fixed Income Fund (TRLVX). 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	TRLVX	Difference
Sharpe ratio: Return per unit of total volatility	0.86	0.95	-0.09
Sortino ratio: Return per unit of downside risk	1.28	1.42	-0.14
Omega ratio: Gain probability vs. loss probability	1.16	1.17	0.00
Calmar ratio: Return relative to maximum drawdown	1.25	1.16	+0.09
Martin ratio: Return relative to average drawdown	3.07	3.22	-0.16

TIIUX vs. TRLVX - Sharpe Ratio Comparison

The current TIIUX Sharpe Ratio is 0.86, which is comparable to the TRLVX Sharpe Ratio of 0.95. The chart below compares the historical Sharpe Ratios of TIIUX and TRLVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

TIIUX vs. TRLVX - Drawdown Comparison

The maximum TIIUX drawdown since its inception was -20.21%, roughly equal to the maximum TRLVX drawdown of -20.98%. Use the drawdown chart below to compare losses from any high point for TIIUX and TRLVX.

Drawdown Indicators

	TIIUX	TRLVX	Difference
Max Drawdown Largest peak-to-trough decline	-20.21%	-20.98%	+0.77%
Max Drawdown (1Y) Largest decline over 1 year	-2.85%	-3.29%	+0.44%
Max Drawdown (3Y) Largest decline over 3 years	-7.15%	-6.90%	-0.25%
Max Drawdown (5Y) Largest decline over 5 years	-20.00%	-20.68%	+0.68%
Max Drawdown (10Y) Largest decline over 10 years	-20.21%	-20.98%	+0.77%
Current Drawdown Current decline from peak	-4.99%	-4.79%	-0.20%
Average Drawdown Average peak-to-trough decline	-2.41%	-2.49%	+0.08%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.11%	1.19%	-0.08%

Volatility

TIIUX vs. TRLVX - Volatility Comparison

The current volatility for Morgan Stanley Pathway Funds Core Fixed Income Fund (TIIUX) is 0.94%, while SEI Institutional Managed Trust Core Fixed Income Fund (TRLVX) has a volatility of 1.15%. This indicates that TIIUX experiences smaller price fluctuations and is considered to be less risky than TRLVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	TIIUX	TRLVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.94%	1.15%	-0.21%
Volatility (6M) Calculated over the trailing 6-month period	2.82%	3.08%	-0.26%
Volatility (1Y) Calculated over the trailing 1-year period	4.14%	4.03%	+0.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.27%	6.38%	-0.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.16%	5.25%	-0.09%

TIIUX vs. TRLVX - Expense Ratio Comparison

TIIUX has a 0.54% expense ratio, which is lower than TRLVX's 0.66% expense ratio.

Dividends

TIIUX vs. TRLVX - Dividend Comparison

TIIUX's dividend yield for the trailing twelve months is around 3.33%, less than TRLVX's 3.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TIIUX Morgan Stanley Pathway Funds Core Fixed Income Fund	3.33%	2.92%	4.51%	3.91%	2.88%	2.36%	5.77%	3.08%	2.93%	2.49%	3.60%	3.34%
TRLVX SEI Institutional Managed Trust Core Fixed Income Fund	3.65%	3.52%	4.01%	3.38%	1.80%	1.90%	5.98%	3.73%	2.77%	2.36%	4.46%	3.64%

Frequently Asked Questions

Can I hold both TIIUX and TRLVX in my portfolio?

TIIUX and TRLVX have a correlation of 0.81, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, TIIUX or TRLVX?

TRLVX has higher volatility (1.15%) compared to TIIUX (0.94%). In terms of maximum drawdown, TIIUX dropped -20.21% vs TRLVX's -20.98%.

Which has better risk-adjusted returns?

TRLVX currently has the higher Sharpe Ratio (0.95 vs 0.86), 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.