TSDUX vs. DFYGX
Compare and contrast key facts about Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund (TSDUX) and DFA Two-Year Government Portfolio (DFYGX).
TSDUX is managed by Morgan Stanley. It was launched on Mar 8, 2016. DFYGX is managed by Dimensional. It was launched on Jun 6, 1996.
Performance
TSDUX vs. DFYGX - Performance Comparison
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TSDUX vs. DFYGX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TSDUX Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund | 0.56% | 3.24% | 6.04% | 5.94% | 0.41% | -0.11% | 2.06% | 2.65% | 1.64% | 1.73% |
DFYGX DFA Two-Year Government Portfolio | 0.88% | 2.16% | 5.15% | 5.00% | -3.02% | -0.51% | 0.38% | 2.20% | 1.42% | 0.29% |
Returns By Period
In the year-to-date period, TSDUX achieves a 0.56% return, which is significantly lower than DFYGX's 0.88% return. Over the past 10 years, TSDUX has outperformed DFYGX with an annualized return of 2.61%, while DFYGX has yielded a comparatively lower 1.38% annualized return.
TSDUX
- 1D
- 0.00%
- 1M
- -0.10%
- YTD
- 0.56%
- 6M
- 0.87%
- 1Y
- 2.55%
- 3Y*
- 4.92%
- 5Y*
- 3.14%
- 10Y*
- 2.61%
DFYGX
- 1D
- 0.04%
- 1M
- 0.25%
- YTD
- 0.88%
- 6M
- 1.90%
- 1Y
- 2.85%
- 3Y*
- 3.99%
- 5Y*
- 1.89%
- 10Y*
- 1.38%
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TSDUX vs. DFYGX - Expense Ratio Comparison
TSDUX has a 0.62% expense ratio, which is higher than DFYGX's 0.17% expense ratio.
Return for Risk
TSDUX vs. DFYGX — Risk / Return Rank
TSDUX
DFYGX
TSDUX vs. DFYGX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund (TSDUX) and DFA Two-Year Government Portfolio (DFYGX). 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.
| TSDUX | DFYGX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.99 | 2.38 | -0.39 |
Sortino ratioReturn per unit of downside risk | 2.82 | 2.73 | +0.10 |
Omega ratioGain probability vs. loss probability | 1.79 | 3.66 | -1.87 |
Calmar ratioReturn relative to maximum drawdown | 4.43 | 2.02 | +2.41 |
Martin ratioReturn relative to average drawdown | 20.41 | 5.58 | +14.83 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TSDUX | DFYGX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.99 | 2.38 | -0.39 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.95 | 1.56 | +1.39 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 2.43 | 1.40 | +1.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | 2.42 | 1.85 | +0.57 |
Correlation
The correlation between TSDUX and DFYGX is -0.07. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
Dividends
TSDUX vs. DFYGX - Dividend Comparison
TSDUX's dividend yield for the trailing twelve months is around 2.10%, less than DFYGX's 2.81% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TSDUX Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund | 2.10% | 3.09% | 5.03% | 1.55% | 6.36% | 0.60% | 1.65% | 2.84% | 2.66% | 2.22% | 1.87% | 0.00% |
DFYGX DFA Two-Year Government Portfolio | 2.81% | 2.04% | 4.84% | 3.07% | 1.14% | 0.00% | 0.27% | 1.87% | 1.82% | 1.01% | 0.58% | 0.49% |
Drawdowns
TSDUX vs. DFYGX - Drawdown Comparison
The maximum TSDUX drawdown since its inception was -3.94%, smaller than the maximum DFYGX drawdown of -4.46%. Use the drawdown chart below to compare losses from any high point for TSDUX and DFYGX.
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Drawdown Indicators
| TSDUX | DFYGX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.94% | -4.46% | +0.52% |
Max Drawdown (1Y)Largest decline over 1 year | -0.72% | -1.04% | +0.32% |
Max Drawdown (5Y)Largest decline over 5 years | -1.72% | -4.36% | +2.64% |
Max Drawdown (10Y)Largest decline over 10 years | -3.94% | -4.46% | +0.52% |
Current DrawdownCurrent decline from peak | -0.10% | 0.00% | -0.10% |
Average DrawdownAverage peak-to-trough decline | -0.19% | -0.30% | +0.11% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.16% | 0.38% | -0.22% |
Volatility
TSDUX vs. DFYGX - Volatility Comparison
Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund (TSDUX) has a higher volatility of 0.31% compared to DFA Two-Year Government Portfolio (DFYGX) at 0.15%. This indicates that TSDUX's price experiences larger fluctuations and is considered to be riskier than DFYGX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSDUX | DFYGX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.31% | 0.15% | +0.16% |
Volatility (6M)Calculated over the trailing 6-month period | 0.74% | 0.41% | +0.33% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.52% | 1.22% | +0.30% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.10% | 1.22% | -0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.09% | 1.00% | +0.09% |