TMSRX vs. TALTX

Last updated Jun 4, 2026

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

Performance

TMSRX vs. TALTX - Performance Comparison

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

Returns By Period

TMSRX

• 1D: 0.00%
• 1M: 0.00%
• YTD: 0.41%
• 6M: 0.72%
• 1Y: 3.60%
• 3Y*: 4.02%
• 5Y*: 0.99%
• 10Y*: —

TALTX

• 1D: 0.09%
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

TMSRX vs. TALTX - Yearly Performance Comparison

	2026 (YTD)
TMSRX T. Rowe Price Multi-Strategy Total Return Fund	0.00%
TALTX Morgan Stanley Pathway Funds Alternative Strategies Fund	0.27%

Return for Risk

TMSRX vs. TALTX — Risk / Return Rank

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

TMSRX

TMSRX Risk / Return Rank: 75
TMSRX Sharpe Ratio Rank: 52
TMSRX Sortino Ratio Rank: 55
TMSRX Omega Ratio Rank: 91
TMSRX Calmar Ratio Rank: 88
TMSRX Martin Ratio Rank: 89

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.

TMSRX vs. TALTX - Risk-Adjusted Trends Comparison

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

	TMSRX	TALTX	Difference
Sharpe ratio: Return per unit of total volatility	2.13	—	—
Sortino ratio: Return per unit of downside risk	3.12	—	—
Omega ratio: Gain probability vs. loss probability	1.66	—	—
Calmar ratio: Return relative to maximum drawdown	4.36	—	—
Martin ratio: Return relative to average drawdown	17.80	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	TMSRX	TALTX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.13	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.83	21.79	-20.96

Drawdowns

TMSRX vs. TALTX - Drawdown Comparison

The maximum TMSRX drawdown since its inception was -10.67%, which is greater than TALTX's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for TMSRX and TALTX.

Drawdown Indicators

	TMSRX	TALTX	Difference
Max Drawdown Largest peak-to-trough decline	-10.67%	0.00%	-10.67%
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	-0.16%	0.00%	-0.16%
Average Drawdown Average peak-to-trough decline	-2.73%	0.00%	-2.73%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.20%	—	—

Volatility

Volatility by Period

	TMSRX	TALTX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.00%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.01%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	1.70%	1.43%	+0.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	2.76%	1.43%	+1.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	3.28%	1.43%	+1.85%

TMSRX vs. TALTX - Expense Ratio Comparison

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

Dividends

TMSRX vs. TALTX - Dividend Comparison

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

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018
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%