TSDUX vs. MGKQX
TSDUX (Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund) and MGKQX (Morgan Stanley Global Permanence Portfolio) are both mutual funds - TSDUX is a Ultrashort Bond fund managed by Morgan Stanley, while MGKQX is a Global Equities fund managed by Morgan Stanley. Over the past 5 years, TSDUX returned 3.44%/yr vs 3.06%/yr for MGKQX. Their -0.06 correlation means they have often moved in opposite directions in the past. TSDUX charges 0.62%/yr vs 0.95%/yr for MGKQX.
Performance
TSDUX vs. MGKQX - Performance Comparison
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Returns By Period
In the year-to-date period, TSDUX achieves a 1.91% return, which is significantly higher than MGKQX's -0.25% return.
TSDUX
- 1D
- -0.41%
- 1M
- 0.00%
- 6M
- 1.45%
- YTD
- 1.91%
- 1Y
- 2.71%
- 3Y*
- 4.61%
- 5Y*
- 3.44%
- 10Y*
- 2.67%
- ALL TIME*
- 2.65%
MGKQX
- 1D
- -1.39%
- 1M
- -1.56%
- 6M
- -2.04%
- YTD
- -0.25%
- 1Y
- -15.35%
- 3Y*
- 4.55%
- 5Y*
- 3.06%
- 10Y*
- —
- ALL TIME*
- 8.67%
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 |
TSDUX vs. MGKQX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|---|---|---|
TSDUX Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund | 1.91% | 3.24% | 6.04% | 5.94% | 0.41% | -0.11% | 2.06% | 1.28% |
MGKQX Morgan Stanley Global Permanence Portfolio | -0.25% | 5.52% | 10.81% | 20.89% | -19.81% | 19.55% | 27.09% | 6.40% |
Correlation
The correlation between TSDUX and MGKQX 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. | -0.01 |
Correlation (5Y) Shows whether the relationship held over a longer period. | -0.08 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2019 | -0.06 |
The correlation between TSDUX and MGKQX shifts across timeframes, from -0.08 (5 years) to 0.06 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
TSDUX vs. MGKQX — Risk / Return Rank
TSDUX
MGKQX
TSDUX vs. MGKQX - 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 Morgan Stanley Global Permanence Portfolio (MGKQX). 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.
| TSDUX | MGKQX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.47 | ||
| Sortino ratioReturn per unit of downside risk | +4.31 | ||
| Omega ratioGain probability vs. loss probability | 2.46 | 0.89 | +1.57 |
| Calmar ratioReturn relative to maximum drawdown | 7.33 | -0.63 | +7.95 |
| Martin ratioReturn relative to average drawdown | 23.71 | -1.01 | +24.72 |
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Drawdowns
TSDUX vs. MGKQX - Drawdown Comparison
The maximum TSDUX drawdown since its inception was -3.94%, smaller than the maximum MGKQX drawdown of -33.07%. Use the drawdown chart below to compare losses from any high point for TSDUX and MGKQX.
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Drawdown Indicators
| TSDUX | MGKQX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -3.94% | -33.07% | +29.13% |
Max Drawdown (1Y)Largest decline over 1 year | -0.41% | -25.97% | +25.56% |
Max Drawdown (3Y)Largest decline over 3 years | -0.73% | -25.97% | +25.24% |
Max Drawdown (5Y)Largest decline over 5 years | -1.72% | -30.96% | +29.24% |
Max Drawdown (10Y)Largest decline over 10 years | -3.94% | — | — |
Current DrawdownCurrent decline from peak | -0.41% | -20.76% | +20.35% |
Average DrawdownAverage peak-to-trough decline | -0.18% | -8.81% | +8.63% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.12% | 16.05% | -15.93% |
Volatility
TSDUX vs. MGKQX - Volatility Comparison
The current volatility for Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund (TSDUX) is 0.47%, while Morgan Stanley Global Permanence Portfolio (MGKQX) has a volatility of 4.57%. This indicates that TSDUX experiences smaller price fluctuations and is considered to be less risky than MGKQX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| TSDUX | MGKQX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.47% | 4.57% | -4.10% |
Volatility (6M)Calculated over the trailing 6-month period | 0.66% | 15.03% | -14.37% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.05% | 26.22% | -25.17% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.12% | 23.95% | -22.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.09% | 23.66% | -22.57% |
TSDUX vs. MGKQX - Expense Ratio Comparison
TSDUX has a 0.62% expense ratio, which is lower than MGKQX's 0.95% expense ratio.
Dividends
TSDUX vs. MGKQX - Dividend Comparison
TSDUX's dividend yield for the trailing twelve months is around 2.47%, while MGKQX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 |
|---|---|---|---|---|---|---|---|---|---|---|---|
MGKQX Morgan Stanley Global Permanence Portfolio | 0.00% | 0.00% | 21.29% | 5.29% | 1.80% | 16.33% | 0.74% | 0.00% | 0.00% | 0.00% | 0.00% |
TSDUX Morgan Stanley Pathway Funds Ultra-ShortTerm Fixed Income Fund | 2.47% | 3.09% | 5.03% | 1.55% | 6.36% | 0.60% | 1.65% | 2.84% | 2.66% | 2.22% | 1.87% |
Frequently Asked Questions
TSDUX and MGKQX 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.
MGKQX has higher volatility (4.57%) compared to TSDUX (0.47%). In terms of maximum drawdown, TSDUX dropped -3.94% vs MGKQX's -33.07%.
TSDUX currently has the higher Sharpe Ratio (2.85 vs -0.62), 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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