TSDOX vs. TSDUX
TSDOX (Touchstone Ultra Short Duration Fixed Income Fund) and TSDUX (Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund) are both Ultrashort Bond funds. Over the past 10 years, TSDOX returned 2.65%/yr vs 2.71%/yr for TSDUX. Their -0.02 correlation means they have often moved in opposite directions in the past. TSDOX charges 0.69%/yr vs 0.62%/yr for TSDUX.
Performance
TSDOX vs. TSDUX - Performance Comparison
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Returns By Period
In the year-to-date period, TSDOX achieves a 1.91% return, which is significantly lower than TSDUX's 2.33% return. Both investments have delivered pretty close results over the past 10 years, with TSDOX having a 2.65% annualized return and TSDUX not far ahead at 2.71%.
TSDOX
- 1D
- 0.00%
- 1M
- 0.00%
- 6M
- 1.47%
- YTD
- 1.91%
- 1Y
- 3.84%
- 3Y*
- 5.48%
- 5Y*
- 3.73%
- 10Y*
- 2.65%
- ALL TIME*
- 2.61%
TSDUX
- 1D
- 0.10%
- 1M
- 0.41%
- 6M
- 1.86%
- YTD
- 2.33%
- 1Y
- 3.13%
- 3Y*
- 4.79%
- 5Y*
- 3.52%
- 10Y*
- 2.71%
- ALL TIME*
- 2.69%
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 |
TSDOX vs. TSDUX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TSDOX Touchstone Ultra Short Duration Fixed Income Fund | 1.91% | 4.73% | 6.87% | 5.75% | -0.37% | 0.20% | 1.25% | 3.07% | 1.63% | 1.32% |
TSDUX Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund | 2.33% | 3.24% | 6.04% | 5.94% | 0.41% | -0.11% | 2.06% | 2.65% | 1.64% | 1.73% |
Correlation
The correlation between TSDOX and TSDUX is 0.06, meaning there was essentially no consistent relationship between their historical price movements. Each responded to its own set of market drivers.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.06 |
Correlation (3Y) Balances recent behavior with more history. | 0.07 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.02 |
Correlation (10Y) Provides a long-term view across more market conditions. | -0.01 |
Correlation (All Time) Calculated using the full available price history since Mar 17, 2016 | -0.02 |
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Return for Risk
TSDOX vs. TSDUX — Risk / Return Rank
TSDOX
TSDUX
TSDOX vs. TSDUX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Touchstone Ultra Short Duration Fixed Income Fund (TSDOX) and Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund (TSDUX). 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.
| TSDOX | TSDUX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.63 | ||
| Sortino ratioReturn per unit of downside risk | +3.66 | ||
| Omega ratioGain probability vs. loss probability | 3.14 | 3.10 | +0.04 |
| Calmar ratioReturn relative to maximum drawdown | 19.69 | 8.38 | +11.31 |
| Martin ratioReturn relative to average drawdown | 59.77 | 27.74 | +32.03 |
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Drawdowns
TSDOX vs. TSDUX - Drawdown Comparison
The maximum TSDOX drawdown since its inception was -5.27%, which is greater than TSDUX's maximum drawdown of -3.94%. Use the drawdown chart below to compare losses from any high point for TSDOX and TSDUX.
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Drawdown Indicators
| TSDOX | TSDUX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -5.27% | -3.94% | -1.33% |
Max Drawdown (1Y)Largest decline over 1 year | -0.22% | -0.41% | +0.19% |
Max Drawdown (3Y)Largest decline over 3 years | -0.32% | -0.73% | +0.41% |
Max Drawdown (5Y)Largest decline over 5 years | -1.50% | -1.72% | +0.22% |
Max Drawdown (10Y)Largest decline over 10 years | -5.27% | -3.94% | -1.33% |
Current DrawdownCurrent decline from peak | 0.00% | 0.00% | 0.00% |
Average DrawdownAverage peak-to-trough decline | -0.18% | -0.18% | 0.00% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.07% | 0.12% | -0.05% |
Volatility
TSDOX vs. TSDUX - Volatility Comparison
Touchstone Ultra Short Duration Fixed Income Fund (TSDOX) has a higher volatility of 0.25% compared to Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund (TSDUX) at 0.19%. This indicates that TSDOX's price experiences larger fluctuations and is considered to be riskier than TSDUX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSDOX | TSDUX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.25% | 0.19% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 0.96% | 0.52% | +0.44% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.44% | 0.95% | +0.49% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.38% | 1.11% | +0.27% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.33% | 1.09% | +0.24% |
TSDOX vs. TSDUX - Expense Ratio Comparison
TSDOX has a 0.69% expense ratio, which is higher than TSDUX's 0.62% expense ratio.
Dividends
TSDOX vs. TSDUX - Dividend Comparison
TSDOX's dividend yield for the trailing twelve months is around 3.87%, more than TSDUX's 2.46% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TSDOX Touchstone Ultra Short Duration Fixed Income Fund | 3.87% | 4.51% | 5.64% | 4.11% | 1.61% | 0.86% | 1.66% | 2.48% | 2.16% | 1.64% | 1.29% | 1.27% |
TSDUX Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund | 2.46% | 3.09% | 5.03% | 1.55% | 6.36% | 0.60% | 1.65% | 2.84% | 2.66% | 2.22% | 1.87% | 0.00% |
Frequently Asked Questions
TSDOX and TSDUX have a correlation of 0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
TSDOX has higher volatility (0.25%) compared to TSDUX (0.19%). In terms of maximum drawdown, TSDOX dropped -5.27% vs TSDUX's -3.94%.
TSDUX currently has the higher Sharpe Ratio (3.59 vs 2.96), 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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