MSLC vs SPY
Comparison between MORGAN STANLEY PATHWAY LARGE CAP EQUITY ETF (MSLC, ETF) and SPDR S&P 500 ETF Trust (SPY, ETF).
MSLC vs SPY - Performance Comparison
Key Characteristics
Financial metrics and valuation ratios
Net Assets
MSLC
$3.50B
Winner
SPY
$652B
Expense Ratio
MSLC
0.39%
Winner
SPY
0.09%
Max Drawdown
Winner
MSLC
17.86%
SPY
56.47%
Sharpe Ratio
MSLC
1.74
Winner
SPY
2.07
5Y Beta
Winner
MSLC
0.93
SPY
1.00
P/E Ratio
Winner
MSLC
27.45
SPY
28.24
Forward P/E
Winner
MSLC
21.08
SPY
21.85
5Y Dividends CAGR
MSLC
N/A
SPY
5.43%
5Y EPS CAGR
MSLC
25.30%
Winner
SPY
25.79%
Debt to Equity
MSLC
N/A
SPY
22.35%
P/S Ratio
Winner
MSLC
2.97
SPY
3.55
P/B Ratio
Winner
MSLC
4.94
SPY
5.29
MSLC vs SPY - Holdings Comparison
MSLC and SPY have 483 common holdings. Overlap is 79.43%
MSLC's top 25 holdings weight is 47.52%. SPY's top 25 holdings weight is 51.32%.
| Rank | MSLC | SPY |
|---|---|---|
| #1 | NVIDIA CORP (NVDA) - 6.63% | NVIDIA CORP (NVDA) - 8.45% |
| #2 | MICROSOFT CORP (MSFT) - 5.02% | APPLE INC (AAPL) - 6.48% |
| #3 | AMAZON.COM INC (AMZN) - 4.57% | MICROSOFT CORP (MSFT) - 5.20% |
| #4 | APPLE INC (AAPL) - 4.41% | AMAZON.COM INC (AMZN) - 4.14% |
| #5 | ALPHABET INC CLASS A (GOOGL) - 3.18% | ALPHABET INC CLASS A (GOOGL) - 3.32% |
| #6 | BROADCOM INC (AVGO) - 2.76% | BROADCOM INC (AVGO) - 3.09% |
| #7 | META PLATFORMS INC CLASS A (META) - 2.63% | ALPHABET INC CLASS C (GOOG) - 2.65% |
| #8 | ALPHABET INC CLASS C (GOOG) - 2.03% | META PLATFORMS INC CLASS A (META) - 2.40% |
| #9 | US DOLLARS (n/a) - 1.66% | TESLA INC (TSLA) - 1.73% |
| #10 | JPMORGAN CHASE & CO (JPM) - 1.50% | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.43% |
| #11 | TESLA INC (TSLA) - 1.25% | JPMORGAN CHASE & CO (JPM) - 1.37% |
| #12 | VISA INC CLASS A (V) - 1.21% | ELI LILLY AND CO (LLY) - 1.13% |
| #13 | BERKSHIRE HATHAWAY INC CLASS B (BRK-B) - 1.17% | EXXON MOBIL CORP (XOM) - 1.03% |
| #14 | NETFLIX INC (NFLX) - 1.11% | MICRON TECHNOLOGY INC (MU) - 0.93% |
| #15 | EXXON MOBIL CORP (XOM) - 1.04% | WALMART INC (WMT) - 0.91% |
| #16 | MICRON TECHNOLOGY INC (MU) - 0.92% | JOHNSON & JOHNSON (JNJ) - 0.90% |
| #17 | MASTERCARD INC CLASS A (MA) - 0.87% | ADVANCED MICRO DEVICES INC (AMD) - 0.86% |
| #18 | RTX CORP (RTX) - 0.77% | VISA INC CLASS A (V) - 0.85% |
| #19 | LINDE PLC (LIN) - 0.75% | COSTCO WHOLESALE CORP (COST) - 0.72% |
| #20 | ELI LILLY AND CO (LLY) - 0.75% | MASTERCARD INC CLASS A (MA) - 0.67% |
| #21 | n/a (BN) - 0.72% | INTEL CORP (INTC) - 0.65% |
| #22 | BANK OF AMERICA CORP (BAC) - 0.71% | NETFLIX INC (NFLX) - 0.64% |
| #23 | CISCO SYSTEMS INC (CSCO) - 0.68% | CATERPILLAR INC (CAT) - 0.62% |
| #24 | MERCK & CO INC (MRK) - 0.59% | CHEVRON CORP (CVX) - 0.58% |
| #25 | JOHNSON & JOHNSON (JNJ) - 0.59% | PROCTER & GAMBLE CO (PG) - 0.57% |
| Total Holdings | 987 | 505 |
MSLC vs SPY - Historical Returns
Returns include dividend reinvestment.
1M
MSLC
+7.87%
Winner
SPY
+9.11%
3M
MSLC
+5.26%
Winner
SPY
+6.59%
6M
MSLC
+8.55%
Winner
SPY
+10.56%
1Y
MSLC
+26.62%
Winner
SPY
+32.04%
5Y(CAGR)
MSLC
N/A
SPY
+13.35%
10Y(CAGR)
MSLC
N/A
SPY
+15.49%
Max(CAGR)
Winner
MSLC
+13.37%
SPY
+8.50%
MSLC vs SPY - Annual Returns (1999 - 2026)
Returns include dividend reinvestment.
| Year | MSLC | SPY |
|---|---|---|
| 2026 | +6.48% | +8.27% |
| 2025 | +15.85% | +18.00% |
| 2024 | -3.29% | +25.59% |
| 2023 | N/A | +26.72% |
| 2022 | N/A | -18.64% |
| 2021 | N/A | +30.52% |
| 2020 | N/A | +17.28% |
| 2019 | N/A | +31.09% |
| 2018 | N/A | -5.24% |
| 2017 | N/A | +20.78% |
| 2016 | N/A | +13.59% |
| 2015 | N/A | +1.31% |
| 2014 | N/A | +14.56% |
| 2013 | N/A | +29.00% |
| 2012 | N/A | +14.17% |
| 2011 | N/A | +0.85% |
| 2010 | N/A | +13.14% |
| 2009 | N/A | +22.67% |
| 2008 | N/A | -36.25% |
| 2007 | N/A | +5.32% |
| 2006 | N/A | +13.85% |
| 2005 | N/A | +5.32% |
| 2004 | N/A | +10.75% |
| 2003 | N/A | +24.18% |
| 2002 | N/A | -22.42% |
| 2001 | N/A | -10.13% |
| 2000 | N/A | -8.84% |
| 1999 | N/A | +8.61% |
MSLC vs SPY Drawdown Comparison
The maximum drawdown for MSLC was -17.86%, occurring on Apr 8, 2025. Recovery took 88 trading sessions.
The maximum drawdown for SPY was -55.20%, occurring on Mar 9, 2009. Recovery took 1224 trading sessions.
| Rank | MSLC | SPY |
|---|---|---|
| #1 | -17.86% Feb 19, 2025 - Jun 26, 2025 | -55.20% Oct 9, 2007 - Aug 16, 2012 |
| #2 | -9.31% Jan 12, 2026 - Apr 15, 2026 | -47.50% Mar 24, 2000 - Oct 26, 2006 |
| #3 | -5.29% Oct 28, 2025 - Dec 11, 2025 | -33.70% Feb 19, 2020 - Aug 10, 2020 |
| #4 | -4.51% Dec 11, 2024 - Jan 22, 2025 | -24.50% Jan 3, 2022 - Dec 13, 2023 |
| #5 | -2.85% Oct 8, 2025 - Oct 24, 2025 | -19.34% Sep 20, 2018 - Apr 12, 2019 |
| #6 | -2.51% Jul 25, 2025 - Aug 12, 2025 | -18.76% Feb 19, 2025 - Jun 26, 2025 |
| #7 | -2.43% Dec 11, 2025 - Dec 23, 2025 | -13.02% Jul 20, 2015 - Apr 18, 2016 |
| #8 | -1.57% Sep 22, 2025 - Oct 3, 2025 | -10.10% Jan 26, 2018 - Aug 6, 2018 |
| #9 | -1.49% Jan 23, 2025 - Feb 18, 2025 | -9.44% Sep 2, 2020 - Nov 11, 2020 |
| #10 | -1.43% Aug 14, 2025 - Aug 22, 2025 | -9.30% Jan 19, 2000 - Mar 17, 2000 |
| #11 | -1.22% Aug 28, 2025 - Sep 8, 2025 | -9.05% Jul 19, 2007 - Oct 5, 2007 |
| #12 | -1.12% Dec 26, 2025 - Jan 6, 2026 | -8.88% Jan 27, 2026 - Apr 14, 2026 |
| #13 | -0.83% Jul 3, 2025 - Jul 17, 2025 | -8.41% Jul 16, 2024 - Sep 19, 2024 |
| #14 | -0.80% Apr 17, 2026 - Apr 22, 2026 | -7.35% Sep 14, 2012 - Jan 2, 2013 |
| #15 | -0.64% Apr 27, 2026 - Apr 30, 2026 | -7.27% Sep 18, 2014 - Oct 31, 2014 |
Correlation
Correlation between MSLC and SPY is 1.00 which considered as a very strong positive correlation - the stocks move almost identically together.
1.00
-101
Dividend Comparison (1999 - 2026)
MSLC vs SPY dividend yield comparison.
| Year | MSLC | SPY |
|---|---|---|
| 2026 | 0.00% | 0.24% |
| 2025 | 2.15% | 1.07% |
| 2024 | 0.00% | 1.21% |
| 2023 | 0.00% | 1.40% |
| 2022 | 0.00% | 1.65% |
| 2021 | 0.00% | 1.20% |
| 2020 | 0.00% | 1.52% |
| 2019 | 0.00% | 1.75% |
| 2018 | 0.00% | 2.04% |
| 2017 | 0.00% | 1.80% |
| 2016 | 0.00% | 2.03% |
| 2015 | 0.00% | 2.06% |
| 2014 | 0.00% | 1.87% |
| 2013 | 0.00% | 1.81% |
| 2012 | 0.00% | 2.18% |
| 2011 | 0.00% | 2.05% |
| 2010 | 0.00% | 1.80% |
| 2009 | 0.00% | 1.95% |
| 2008 | 0.00% | 3.02% |
| 2007 | 0.00% | 1.85% |
| 2006 | 0.00% | 1.73% |
| 2005 | 0.00% | 1.73% |
| 2004 | 0.00% | 1.82% |
| 2003 | 0.00% | 1.47% |
| 2002 | 0.00% | 1.70% |
| 2001 | 0.00% | 1.25% |
| 2000 | 0.00% | 1.15% |
| 1999 | 0.00% | 0.24% |
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