Morgan Stanley Pathway Large Cap Equity ETF (MSLC) Performance
MSLC total return
Distributions reinvested · as of Oct 23, 2026- YTD
- +10.0% since Dec 31, 2025
- 1 year
- +11.5% total return
- Since first price
- +23.1% since 2024
MSLC trailing returns vs SPY, QQQ, AGG
| Period | MSLC total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | −0.9% | −0.9% | −1.0% | −5.0% | +0.9% |
| 3 months | +2.8% | +2.8% | +3.2% | +1.9% | −0.4% |
| 6 months | +6.5% | +6.5% | +7.8% | +8.4% | −1.5% |
| YTD | +10.0% | +10.0% | +12.3% | +15.1% | −1.0% |
| 1 year | +11.5% | +9.2% | +14.4% | +15.9% | −1.1% |
| Since inceptionDec 9, 2024 | +23.1% | +20.5% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: MSLC vs SPY
From Dec 9, 2024: MSLC grew to $12,312, SPY to $12,858.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
MSLC returns by calendar year
1 of 1 full years positive. Best 2025 (+15.7%), worst 2025 (+15.7%). 2026 is year to date.
MSLC annual returns table
| Year | MSLC | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | +10.0% | −9.3% | +12.3% | +15.1% | −1.0% |
| 2025 | +15.7% | −17.9% | +17.7% | +20.8% | +7.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
MSLC largest drawdowns
Now 2.8% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Feb 19, 2025 | −17.9% | Apr 8, 2025 | Jun 26, 2025 | 48 days | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
MSLC risk statistics
| Statistic | Since 2024 |
|---|---|
| Annualized return | +14.9% |
| Volatility (annualized) | 12.2% |
| Sharpe ratio | 0.89 |
| Sortino ratio | 1.69 |
| Best month | +9.9% |
| Worst month | −5.2% |
| Best 12 months | +26.8% |
| Worst 12 months | +12.7% |
| Positive months | 67% |
| Beta vs S&P 500 | — |
| Correlation with S&P 500 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
MSLC rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 11 | +10.3% | +15.7% | +26.8% | 100% |
Every holding period starting at a month-end since 2024. Returns for 3 years and longer are annualized.
MSLC performance overview
Morgan Stanley Pathway Large Cap Equity ETF (MSLC) returned +11.5% over the past year, with distributions reinvested. Since its first recorded price on Dec 9, 2024 it has returned +23.1%. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −17.9%, from Feb 19, 2025 to Apr 8, 2025, and it took 3 months to get back to the old high. Volatility has been 12.2% a year.
Related: MSLC chart, MSLC holdings, MSLC dividends, MSLC valuation. See the MSLC overview for the latest quote and fund facts.
MSLC performance FAQ
What is the MSLC return over the past year?
MSLC returned +11.5% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it rose 9.2%.
How much would $10,000 invested in MSLC be worth?
$10,000 invested in MSLC at its first recorded close on December 9, 2024 would be worth about $12,312 on October 23, 2026 with distributions reinvested.
What is the biggest drawdown of MSLC?
The largest peak-to-trough decline was −17.9% between February 19, 2025 and April 8, 2025. It recovered to the old high on June 26, 2025, 3 months after the bottom.
How volatile is MSLC?
Over the past history MSLC had an annualized volatility of 12.2% and a Sharpe ratio of 0.89 (excess return over 1–3 month T-bills per unit of risk).