TLGUX vs. FSKAX

Last updated Apr 1, 2026

Compare and contrast key facts about Morgan Stanley Pathway Funds Large Cap Equity Fund (TLGUX) and Fidelity Total Market Index Fund (FSKAX).

TLGUX is managed by Morgan Stanley. It was launched on Nov 18, 1991. FSKAX is managed by Fidelity.

Performance

TLGUX vs. FSKAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley Pathway Funds Large Cap Equity Fund (TLGUX) and Fidelity Total Market Index Fund (FSKAX). The values are adjusted to include any dividend payments, if applicable.

TLGUX vs. FSKAX - Yearly Performance Comparison

	2026 (YTD)	2025
TLGUX Morgan Stanley Pathway Funds Large Cap Equity Fund	0.00%	0.00%
FSKAX Fidelity Total Market Index Fund	-6.77%	24.74%

Returns By Period

TLGUX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

FSKAX

• 1D: -0.47%
• 1M: -7.69%
• YTD: -6.77%
• 6M: -4.56%
• 1Y: 14.73%
• 3Y*: 16.72%
• 5Y*: 10.13%
• 10Y*: 13.23%

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

TLGUX vs. FSKAX - Expense Ratio Comparison

TLGUX has a 0.47% expense ratio, which is higher than FSKAX's 0.02% expense ratio.

TLGUX

Morgan Stanley Pathway Funds Large Cap Equity Fund

FSKAX

Fidelity Total Market Index Fund

Return for Risk

TLGUX vs. FSKAX — Risk / Return Rank

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

FSKAX

FSKAX Risk / Return Rank: 45
FSKAX Sharpe Ratio Rank: 40
FSKAX Sortino Ratio Rank: 44
FSKAX Omega Ratio Rank: 48
FSKAX Calmar Ratio Rank: 41
FSKAX Martin Ratio Rank: 52

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.

TLGUX vs. FSKAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Pathway Funds Large Cap Equity Fund (TLGUX) and Fidelity Total Market Index Fund (FSKAX). 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

	TLGUX	FSKAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	0.83	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.59	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.72	—
Sharpe Ratio (All Time) Calculated using the full available price history	—	0.78	—

Dividends

TLGUX vs. FSKAX - Dividend Comparison

TLGUX has not paid dividends to shareholders, while FSKAX's dividend yield for the trailing twelve months is around 1.09%.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
TLGUX Morgan Stanley Pathway Funds Large Cap Equity 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%
FSKAX Fidelity Total Market Index Fund	1.09%	1.01%	1.19%	1.41%	1.62%	1.15%	1.45%	1.94%	2.54%	2.07%	2.43%	0.82%

Drawdowns

Drawdown Indicators

	TLGUX	FSKAX	Difference
Max Drawdown Largest peak-to-trough decline	—	-35.01%	—
Max Drawdown (1Y) Largest decline over 1 year	—	-12.42%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-25.39%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-35.01%	—
Current Drawdown Current decline from peak	—	-8.92%	—
Average Drawdown Average peak-to-trough decline	—	-4.05%	—
Ulcer Index Depth and duration of drawdowns from previous peaks	—	2.57%	—

Volatility

Volatility by Period

	TLGUX	FSKAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	4.42%	—
Volatility (6M) Calculated over the trailing 6-month period	—	9.40%	—
Volatility (1Y) Calculated over the trailing 1-year period	—	18.50%	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	—	17.38%	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	—	18.42%	—