USGDX vs. DINDX

Last updated Jun 4, 2026

USGDX (Morgan Stanley U.S. Government Securities Trust) and DINDX (Morgan Stanley Global Fixed Income Opportunities Fund) are both mutual funds - USGDX is a Intermediate Core Bond fund managed by Morgan Stanley, while DINDX is a Multisector Bonds fund actively managed by Morgan Stanley. At a 0.40 correlation, their price movements are largely independent. USGDX charges 0.52%/yr vs 0.56%/yr for DINDX.

Performance

USGDX vs. DINDX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Morgan Stanley U.S. Government Securities Trust (USGDX) and Morgan Stanley Global Fixed Income Opportunities Fund (DINDX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

USGDX

• 1D: 0.15%
• 1M: 0.48%
• YTD: -1.50%
• 6M: -1.95%
• 1Y: 8.87%
• 3Y*: 2.39%
• 5Y*: -1.19%
• 10Y*: 0.72%

DINDX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

USGDX vs. DINDX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
USGDX Morgan Stanley U.S. Government Securities Trust	-1.50%	13.54%	-6.80%	4.64%	-13.25%	-2.18%	5.79%	7.23%	0.08%	2.91%
DINDX Morgan Stanley Global Fixed Income Opportunities Fund	0.00%	8.28%	6.76%	8.49%	-7.06%	0.01%	5.10%	9.59%	-1.28%	7.54%

Correlation

The correlation between USGDX and DINDX is 0.49, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.49
Correlation (3Y) Calculated over the trailing 3-year period	0.73
Correlation (5Y) Calculated over the trailing 5-year period	0.66
Correlation (10Y) Calculated over the trailing 10-year period	0.50
Correlation (All Time) Calculated using the full available price history since Jul 29, 1997	0.40

The correlation between USGDX and DINDX shifts across timeframes, from 0.40 (all time) to 0.73 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

USGDX vs. DINDX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

USGDX

USGDX Risk / Return Rank: 13
USGDX Sharpe Ratio Rank: 13
USGDX Sortino Ratio Rank: 14
USGDX Omega Ratio Rank: 13
USGDX Calmar Ratio Rank: 12
USGDX Martin Ratio Rank: 12

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.

USGDX vs. DINDX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Morgan Stanley U.S. Government Securities Trust (USGDX) and Morgan Stanley Global Fixed Income Opportunities Fund (DINDX). 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.

	USGDX	DINDX	Difference
Sharpe ratio: Return per unit of total volatility	1.01	—	—
Sortino ratio: Return per unit of downside risk	1.53	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	1.11	—	—
Martin ratio: Return relative to average drawdown	3.52	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	USGDX	DINDX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.01	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	-0.10	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.08	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.49	—	—

Drawdowns

Drawdown Indicators

	USGDX	DINDX	Difference
Max Drawdown Largest peak-to-trough decline	-30.33%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-7.88%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-18.70%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-29.81%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-30.33%	—	—
Current Drawdown Current decline from peak	-8.00%	—	—
Average Drawdown Average peak-to-trough decline	-3.20%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.48%	—	—

Volatility

Volatility by Period

	USGDX	DINDX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.45%	—	—
Volatility (6M) Calculated over the trailing 6-month period	5.88%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	8.67%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	12.15%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	8.89%	—	—

USGDX vs. DINDX - Expense Ratio Comparison

USGDX has a 0.52% expense ratio, which is lower than DINDX's 0.56% expense ratio.

Dividends

USGDX vs. DINDX - Dividend Comparison

USGDX's dividend yield for the trailing twelve months is around 5.01%, while DINDX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DINDX Morgan Stanley Global Fixed Income Opportunities Fund	2.69%	4.69%	5.36%	4.69%	5.82%	3.52%	2.98%	3.43%	3.68%	3.13%	6.24%	4.80%
USGDX Morgan Stanley U.S. Government Securities Trust	5.01%	4.73%	5.20%	3.09%	2.51%	2.18%	2.79%	3.67%	3.13%	3.11%	3.13%	2.63%

Frequently Asked Questions

Can I hold both USGDX and DINDX in my portfolio?

USGDX and DINDX have a correlation of 0.49, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.