MSLC vs SCMB

Comparison between MORGAN STANLEY PATHWAY LARGE CAP EQUITY ETF (MSLC, ETF) and SCHWAB MUNICIPAL BOND ETF (SCMB, ETF).

MSLC vs SCMB - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	MSLC(ETF)	SCMB(ETF)
Net Assets	$4B	$4B
Expense Ratio	0.39%	0.03%
Max Drawdown	17.86%	7.77%
Sharpe Ratio	1.23	0.31
5Y Beta	0.93	0.04
P/E Ratio	25.69	N/A
Forward P/E	20.27	N/A
5Y EPS CAGR	26.12%	N/A
P/S Ratio	3.16	N/A
P/B Ratio	5.22	N/A

Net Assets

MSLC

$4B

SCMB

$4B

Expense Ratio

MSLC

0.39%

Winner

SCMB

0.03%

Max Drawdown

MSLC

17.86%

Winner

SCMB

7.77%

Sharpe Ratio

Winner

MSLC

1.23

SCMB

0.31

5Y Beta

MSLC

0.93

Winner

SCMB

0.04

P/E Ratio

MSLC

25.69

SCMB

N/A

Forward P/E

MSLC

20.27

SCMB

N/A

5Y EPS CAGR

MSLC

26.12%

SCMB

N/A

P/S Ratio

MSLC

3.16

SCMB

N/A

P/B Ratio

MSLC

5.22

SCMB

N/A

MSLC vs SCMB - Historical Returns

Returns include dividend reinvestment.

Period	MSLC	SCMB
1 month	+2.61%	-1.54%
3 months	+5.05%	-0.39%
6 months	+10.92%	-0.63%
1 year	+19.53%	+4.84%
Max(CAGR)	+14.48%	+3.66%

Winner

MSLC

+2.61%

SCMB

-1.54%

Winner

MSLC

+5.05%

SCMB

-0.39%

Winner

MSLC

+10.92%

SCMB

-0.63%

Winner

MSLC

+19.53%

SCMB

+4.84%

Max(CAGR)

Winner

MSLC

+14.48%

SCMB

+3.66%

MSLC vs SCMB - Annual Returns (2022 - 2026)

Returns include dividend reinvestment.

Year	MSLC	SCMB
2026	+11.61%	+0.35%
2025	+15.85%	+3.34%
2024	-3.29%	+1.10%
2023	N/A	+5.70%
2022	N/A	+3.05%

MSLC vs SCMB Drawdown Comparison

The maximum drawdown for MSLC was -17.86%, occurring on Apr 8, 2025. Recovery took 88 trading sessions.

The maximum drawdown for SCMB was -6.13%, occurring on Oct 30, 2023. Recovery took 162 trading sessions.

The current MSLC drawdown is -0.33%. The current SCMB drawdown is -1.54%.

Rank	MSLC	SCMB
#1	-17.86% Feb 19, 2025 - Jun 26, 2025	-6.13% Apr 12, 2023 - Dec 1, 2023
#2	-9.31% Jan 12, 2026 - Apr 15, 2026	-4.75% Dec 4, 2024 - Sep 11, 2025
#3	-5.29% Oct 28, 2025 - Dec 11, 2025	-3.23% Feb 2, 2023 - Apr 6, 2023
#4	-4.51% Dec 11, 2024 - Jan 22, 2025	-2.92% Feb 27, 2026 - Jul 6, 2026
#5	-4.08% Jun 1, 2026 - Aug 3, 2026	-2.55% Oct 1, 2024 - Dec 3, 2024
#6	-2.85% Oct 8, 2025 - Oct 24, 2025	-2.27% Jul 6, 2026 - Jul 23, 2026
#7	-2.51% Jul 25, 2025 - Aug 12, 2025	-2.25% Feb 1, 2024 - Jul 16, 2024
#8	-2.43% Dec 11, 2025 - Dec 23, 2025	-2.09% Oct 12, 2022 - Nov 10, 2022
#9	-1.83% May 14, 2026 - May 26, 2026	-1.25% Dec 29, 2023 - Feb 1, 2024
#10	-1.57% Sep 22, 2025 - Oct 3, 2025	-1.05% Dec 14, 2022 - Jan 6, 2023
#11	-1.49% Jan 23, 2025 - Feb 18, 2025	-0.94% Aug 5, 2024 - Sep 6, 2024
#12	-1.43% Aug 14, 2025 - Aug 22, 2025	-0.58% Sep 17, 2025 - Oct 10, 2025
#13	-1.22% Aug 28, 2025 - Sep 8, 2025	-0.50% Nov 11, 2025 - Dec 29, 2025
#14	-1.12% Dec 26, 2025 - Jan 6, 2026	-0.50% Jan 16, 2026 - Feb 5, 2026
#15	-0.83% Jul 3, 2025 - Jul 17, 2025	-0.38% Oct 24, 2025 - Nov 11, 2025