TMUUX vs. MSEQX
TMUUX (Morgan Stanley Pathway Funds Municipal Bond Fund) and MSEQX (Morgan Stanley Growth Portfolio Class I) are both mutual funds - TMUUX is a Municipal Bonds fund managed by Morgan Stanley, while MSEQX is a Large Cap Growth Equities fund managed by Morgan Stanley. Over the past 10 years, TMUUX returned 1.36%/yr vs 15.66%/yr for MSEQX. Their 0.00 correlation means their historical movements had little consistent relationship. TMUUX charges 0.71%/yr vs 0.56%/yr for MSEQX.
Performance
TMUUX vs. MSEQX - Performance Comparison
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Returns By Period
In the year-to-date period, TMUUX achieves a -0.12% return, which is significantly higher than MSEQX's -10.25% return. Over the past 10 years, TMUUX has underperformed MSEQX with an annualized return of 1.36%, while MSEQX has yielded a comparatively higher 15.66% annualized return.
TMUUX
- 1D
- -0.36%
- 1M
- -2.10%
- 6M
- -0.92%
- YTD
- -0.12%
- 1Y
- 4.19%
- 3Y*
- 2.42%
- 5Y*
- -0.01%
- 10Y*
- 1.36%
- ALL TIME*
- 3.57%
MSEQX
- 1D
- -2.14%
- 1M
- -7.99%
- 6M
- -2.15%
- YTD
- -10.25%
- 1Y
- -4.55%
- 3Y*
- 20.24%
- 5Y*
- -2.75%
- 10Y*
- 15.66%
- ALL TIME*
- 11.46%
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 |
TMUUX vs. MSEQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TMUUX Morgan Stanley Pathway Funds Municipal Bond Fund | -0.12% | 2.42% | 1.73% | 6.04% | -9.03% | 1.21% | 3.57% | 7.44% | 0.54% | 4.84% |
MSEQX Morgan Stanley Growth Portfolio Class I | -10.25% | 24.78% | 46.65% | 50.25% | -60.18% | 0.00% | 115.60% | 38.25% | 5.38% | 43.91% |
Correlation
The correlation between TMUUX and MSEQX is 0.28, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.28 |
Correlation (3Y) Balances recent behavior with more history. | 0.15 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.14 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.09 |
Correlation (All Time) Calculated using the full available price history since Nov 18, 1991 | 0.00 |
Over the past year, TMUUX and MSEQX have become more correlated (0.28) than their long-term average of 0.00, meaning their price movements have been converging.
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Return for Risk
TMUUX vs. MSEQX — Risk / Return Rank
TMUUX
MSEQX
TMUUX vs. MSEQX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Pathway Funds Municipal Bond Fund (TMUUX) and Morgan Stanley Growth Portfolio Class I (MSEQX). 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.
| TMUUX | MSEQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.83 | ||
| Sortino ratioReturn per unit of downside risk | +2.54 | ||
| Omega ratioGain probability vs. loss probability | 1.37 | 0.98 | +0.39 |
| Calmar ratioReturn relative to maximum drawdown | 1.81 | -0.29 | +2.10 |
| Martin ratioReturn relative to average drawdown | 5.56 | -0.55 | +6.10 |
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Drawdowns
TMUUX vs. MSEQX - Drawdown Comparison
The maximum TMUUX drawdown since its inception was -16.76%, smaller than the maximum MSEQX drawdown of -69.48%. Use the drawdown chart below to compare losses from any high point for TMUUX and MSEQX.
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Drawdown Indicators
| TMUUX | MSEQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.76% | -69.48% | +52.72% |
Max Drawdown (1Y)Largest decline over 1 year | -2.54% | -27.73% | +25.19% |
Max Drawdown (3Y)Largest decline over 3 years | -5.49% | -32.52% | +27.03% |
Max Drawdown (5Y)Largest decline over 5 years | -14.41% | -69.48% | +55.07% |
Max Drawdown (10Y)Largest decline over 10 years | -14.47% | -69.48% | +55.01% |
Current DrawdownCurrent decline from peak | -2.10% | -21.60% | +19.50% |
Average DrawdownAverage peak-to-trough decline | -2.16% | -16.90% | +14.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.82% | 14.43% | -13.61% |
Volatility
TMUUX vs. MSEQX - Volatility Comparison
The current volatility for Morgan Stanley Pathway Funds Municipal Bond Fund (TMUUX) is 0.91%, while Morgan Stanley Growth Portfolio Class I (MSEQX) has a volatility of 7.38%. This indicates that TMUUX experiences smaller price fluctuations and is considered to be less risky than MSEQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TMUUX | MSEQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.91% | 7.38% | -6.47% |
Volatility (6M)Calculated over the trailing 6-month period | 2.04% | 22.96% | -20.92% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.94% | 29.74% | -26.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.42% | 39.91% | -35.49% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.96% | 33.93% | -29.97% |
TMUUX vs. MSEQX - Expense Ratio Comparison
TMUUX has a 0.71% expense ratio, which is higher than MSEQX's 0.56% expense ratio.
Dividends
TMUUX vs. MSEQX - Dividend Comparison
TMUUX's dividend yield for the trailing twelve months is around 2.10%, while MSEQX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSEQX Morgan Stanley Growth Portfolio Class I | 0.00% | 0.00% | 0.55% | 0.00% | 16.79% | 24.24% | 9.36% | 21.39% | 5.38% | 21.18% | 12.71% | 7.55% |
TMUUX Morgan Stanley Pathway Funds Municipal Bond Fund | 2.10% | 2.13% | 3.37% | 3.11% | 2.41% | 1.95% | 2.54% | 3.30% | 2.92% | 2.77% | 5.74% | 3.07% |
Frequently Asked Questions
TMUUX and MSEQX have a correlation of 0.28, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSEQX has higher volatility (7.38%) compared to TMUUX (0.91%). In terms of maximum drawdown, TMUUX dropped -16.76% vs MSEQX's -69.48%.
TMUUX currently has the higher Sharpe Ratio (1.57 vs -0.27), 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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