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TMSRX vs. TALTX
Performance
Return for Risk
Drawdowns
Volatility
Dividends

TMSRX vs. TALTX

Last updated Jul 14, 2026
Documentation

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.

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Returns By Period

TMSRX

1D
0.00%
1M
0.00%
6M
-1.81%
YTD
-1.37%
1Y
0.89%
3Y*
3.51%
5Y*
0.72%
10Y*
—

TALTX

1D
0.00%
1M
0.09%
6M
—
YTD
—
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		-0.18%

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T. Rowe Price Multi-Strategy Total Return Fund

Morgan Stanley Pathway Funds Alternative Strategies Fund

Often compared with TMSRX:
TMSRX vs. RPIDXTMSRX vs. PSMIXTMSRX vs. QSPIXTMSRX vs. PSFFTMSRX vs. SYMIXTMSRX vs. ADANXTMSRX vs. CSQIX
Often compared with TALTX:
TALTX vs. SYMIXTALTX vs. FABZXTALTX vs. RMDFXTALTX vs. TNMAXTALTX vs. FCRIXTALTX vs. SRDAXTALTX vs. ADANX

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: 88
Overall Rank
TMSRX Sharpe Ratio Rank: 77
Sharpe Ratio Rank
TMSRX Sortino Ratio Rank: 55
Sortino Ratio Rank
TMSRX Omega Ratio Rank: 1313
Omega Ratio Rank
TMSRX Calmar Ratio Rank: 77
Calmar Ratio Rank
TMSRX Martin Ratio Rank: 55
Martin Ratio Rank
TALTX

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

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.

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.

TMSRXTALTXDifference
Sharpe ratioReturn per unit of total volatility
0.37

—

—

Sortino ratioReturn per unit of downside risk
0.43

—

—

Omega ratioGain probability vs. loss probability

1.14

—

—

Calmar ratioReturn relative to maximum drawdown

0.46

—

—

Martin ratioReturn relative to average drawdown

0.67

—

—

TMSRX vs. TALTX - Sharpe Ratio Comparison

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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 -0.99%. Use the drawdown chart below to compare losses from any high point for TMSRX and TALTX.

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Drawdown Indicators

TMSRXTALTXDifference

Max Drawdown

Largest peak-to-trough decline

-10.67%

-0.99%

-9.68%

Max Drawdown (1Y)

Largest decline over 1 year

-1.92%

—

—

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

-1.92%

-0.45%

-1.47%

Average Drawdown

Average peak-to-trough decline

-2.80%

-0.47%

-2.33%

Ulcer Index

Depth and duration of drawdowns from previous peaks

1.32%

—

—

Volatility

TMSRX vs. TALTX - Volatility Comparison

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Volatility by Period

TMSRXTALTXDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.00%

—

—

Volatility (6M)

Calculated over the trailing 6-month period

1.85%

—

—

Volatility (1Y)

Calculated over the trailing 1-year period

2.43%

3.38%

-0.95%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

2.86%

3.38%

-0.52%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

3.32%

3.38%

-0.06%

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 7.69%, while TALTX has not paid dividends to shareholders.

PositionTTM20252024202320222021202020192018
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		7.69%7.59%6.72%5.95%2.29%2.88%3.35%3.00%3.56%
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