MSLC vs IDEF
Comparison between MORGAN STANLEY PATHWAY LARGE CAP EQUITY ETF (MSLC, ETF) and iShares Defense Industrials Active ETF (IDEF, ETF).
MSLC vs IDEF - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
MSLC
$4B
Winner
IDEF
$4.10B
Expense Ratio
Winner
MSLC
0.39%
IDEF
0.55%
Max Drawdown
MSLC
17.86%
Winner
IDEF
15.84%
Sharpe Ratio
Winner
MSLC
1.09
IDEF
0.38
5Y Beta
Winner
MSLC
0.93
IDEF
1.12
P/E Ratio
Winner
MSLC
27.48
IDEF
48.94
Forward P/E
Winner
MSLC
20.58
IDEF
30.39
5Y EPS CAGR
MSLC
24.85%
IDEF
N/A
Debt to Equity
MSLC
N/A
IDEF
129.19%
P/S Ratio
MSLC
3.17
Winner
IDEF
2.70
P/B Ratio
Winner
MSLC
5.24
IDEF
5.86
MSLC vs IDEF - Holdings Comparison
MSLC and IDEF have 35 common holdings. Overlap is 3.58%
MSLC's top 25 holdings weight is 46.91%. IDEF's top 25 holdings weight is 68.51%.
| Rank | MSLC | IDEF |
|---|---|---|
| #1 | NVIDIA CORP (NVDA) - 6.53% | RTX CORP (RTX) - 8.57% |
| #2 | APPLE INC (AAPL) - 4.74% | LOCKHEED MARTIN CORP (LMT) - 6.97% |
| #3 | MICROSOFT CORP (MSFT) - 4.55% | BOEING CO (BA) - 5.16% |
| #4 | AMAZON.COM INC (AMZN) - 4.13% | ROLLS-ROYCE HOLDINGS PLC (n/a) - 5.06% |
| #5 | ALPHABET INC CLASS A (GOOGL) - 3.43% | GENERAL DYNAMICS CORP (GD) - 4.55% |
| #6 | BROADCOM INC (AVGO) - 2.48% | NORTHROP GRUMMAN CORP (NOC) - 3.46% |
| #7 | META PLATFORMS INC CLASS A (META) - 2.19% | FORTINET INC (FTNT) - 3.35% |
| #8 | ALPHABET INC CLASS C (GOOG) - 2.12% | BAE SYSTEMS PLC (n/a) - 2.85% |
| #9 | MICRON TECHNOLOGY INC (MU) - 1.63% | AIRBUS SE (n/a) - 2.53% |
| #10 | JPMORGAN CHASE & CO (JPM) - 1.47% | GE AEROSPACE (GE) - 2.45% |
| #11 | US DOLLARS (n/a) - 1.28% | THALES (n/a) - 2.38% |
| #12 | VISA INC CLASS A (V) - 1.27% | HOWMET AEROSPACE INC (HWM) - 2.18% |
| #13 | TESLA INC (TSLA) - 1.22% | ELBIT SYSTEMS LTD (n/a) - 1.98% |
| #14 | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.17% | LEONARDO SPA AZ NOM POST RAGGRUPPAMENTO (n/a) - 1.87% |
| #15 | EXXON MOBIL CORP (XOM) - 1.03% | SAAB AB CLASS B (n/a) - 1.79% |
| #16 | CISCO SYSTEMS INC (CSCO) - 0.96% | BWX TECHNOLOGIES INC (BWXT) - 1.58% |
| #17 | ELI LILLY AND CO (LLY) - 0.92% | RHEINMETALL AG (n/a) - 1.54% |
| #18 | MASTERCARD INC CLASS A (MA) - 0.86% | n/a (SPCX) - 1.52% |
| #19 | NETFLIX INC (NFLX) - 0.83% | SAFRAN SA (n/a) - 1.51% |
| #20 | LINDE PLC (LIN) - 0.73% | MITSUBISHI HEAVY INDUSTRIES LTD (n/a) - 1.42% |
| #21 | ADVANCED MICRO DEVICES INC (AMD) - 0.73% | L3HARRIS TECHNOLOGIES INC (LHX) - 1.40% |
| #22 | BANK OF AMERICA CORP (BAC) - 0.69% | n/a (PLTR) - 1.36% |
| #23 | n/a (BN) - 0.67% | MERCURY SYSTEMS INC (MRCY) - 1.03% |
| #24 | RTX CORP (RTX) - 0.66% | HUNTINGTON INGALLS INDUSTRIES INC (HII) - 1.02% |
| #25 | UNITEDHEALTH GROUP INC (UNH) - 0.62% | KONGSBERG GRUPPEN ASA (n/a) - 0.98% |
| Total Holdings | 952 | 130 |
MSLC vs IDEF - Historical Returns
Returns include dividend reinvestment.
1M
Winner
MSLC
+0.46%
IDEF
-3.28%
3M
Winner
MSLC
+6.90%
IDEF
-9.34%
6M
Winner
MSLC
+7.75%
IDEF
-11.43%
1Y
Winner
MSLC
+18.58%
IDEF
+11.16%
Max(CAGR)
MSLC
+13.51%
Winner
IDEF
+22.44%
MSLC vs IDEF - Annual Returns (2024 - 2026)
Returns include dividend reinvestment.
| Year | MSLC | IDEF |
|---|---|---|
| 2026 | +9.21% | -0.14% |
| 2025 | +15.85% | +23.05% |
| 2024 | -3.29% | N/A |
MSLC vs IDEF Drawdown Comparison
The maximum drawdown for MSLC was -17.86%, occurring on Apr 8, 2025. Recovery took 88 trading sessions.
The maximum drawdown for IDEF was -15.70%, occurring on Jun 26, 2026. This drawdown has not yet recovered.
The current MSLC drawdown is -0.02%. The current IDEF drawdown is -14.12%.
| Rank | MSLC | IDEF |
|---|---|---|
| #1 | -17.86% Feb 19, 2025 - Jun 26, 2025 | -15.70% Mar 2, 2026 - Jun 26, 2026 |
| #2 | -9.31% Jan 12, 2026 - Apr 15, 2026 | -12.27% Oct 8, 2025 - Jan 5, 2026 |
| #3 | -5.29% Oct 28, 2025 - Dec 11, 2025 | -7.38% Jan 16, 2026 - Mar 2, 2026 |
| #4 | -4.51% Dec 11, 2024 - Jan 22, 2025 | -4.33% Aug 6, 2025 - Sep 10, 2025 |
| #5 | -4.08% Jun 1, 2026 - Jun 10, 2026 | -1.59% Jun 30, 2025 - Jul 9, 2025 |
| #6 | -2.85% Oct 8, 2025 - Oct 24, 2025 | -1.52% Jul 23, 2025 - Aug 4, 2025 |
| #7 | -2.51% Jul 25, 2025 - Aug 12, 2025 | -1.25% Jun 9, 2025 - Jun 13, 2025 |
| #8 | -2.43% Dec 11, 2025 - Dec 23, 2025 | -1.21% Jul 18, 2025 - Jul 23, 2025 |
| #9 | -1.83% May 14, 2026 - May 26, 2026 | -0.71% Sep 16, 2025 - Sep 19, 2025 |
| #10 | -1.57% Sep 22, 2025 - Oct 3, 2025 | -0.70% Jul 14, 2025 - Jul 17, 2025 |
| #11 | -1.49% Jan 23, 2025 - Feb 18, 2025 | -0.68% Sep 23, 2025 - Sep 26, 2025 |
| #12 | -1.43% Aug 14, 2025 - Aug 22, 2025 | -0.63% Jun 16, 2025 - Jun 23, 2025 |
| #13 | -1.22% Aug 28, 2025 - Sep 8, 2025 | -0.56% Jul 9, 2025 - Jul 14, 2025 |
| #14 | -1.12% Dec 26, 2025 - Jan 6, 2026 | -0.47% Oct 6, 2025 - Oct 8, 2025 |
| #15 | -0.83% Jul 3, 2025 - Jul 17, 2025 | -0.41% May 27, 2025 - May 30, 2025 |
Correlation
Correlation between MSLC and IDEF is 0.67 which considered as a moderate positive correlation - the stocks show some tendency to move together.
0.67
-101
Dividend Comparison (2025 - 2026)
MSLC vs IDEF dividend yield comparison.
| Year | MSLC | IDEF |
|---|---|---|
| 2026 | 0.00% | 0.17% |
| 2025 | 2.15% | 0.17% |
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