Fund Evaluator:
Morgan Stanley Pathway Intl Eq (TIEUX)
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Best Performing in Foreign Large Blend Over the Last Year
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Fund Details
Morgan Stanley Pathway Intl Eq Overview
Morgan Stanley Pathway Intl Eq (TIEUX) is an actively managed International Equity Foreign Large Blend fund. Morgan Stanley launched the fund in 1991.
The investment seeks capital appreciation. The fund will invest, under normal market conditions, at least 80% of its net assets (plus the amount of any borrowing for investment purposes) in the equity securities of companies located outside the U.S. The advisor focuses on companies located in developed markets, but also may invest a portion of its assets in securities of companies located in emerging markets. The advisor intends to diversify its assets by investing primarily in securities of issuers located in at least three foreign countries. It may also lend portfolio securities to earn additional income.
About Morgan Stanley Pathway Intl Eq (TIEUX)
There are 21 members of the management team with an average tenure of 6.68 years: Jonathan Eng (2014), Joseph Giroux (2026), Simon Webber (2011), Scott Bartone (2026), Jane Henderson (2021), Roy Leckie (2021), Conor Muldoon (2014), Alessandro Valentini (2014), James Gautrey (2014), Ellen Lee (2015), Maxim Skorniakov (2022), Fraser Fox (2022), Brian Cho (2026), Ehren Stanhope (2026), Steven Nguyen (2019), Daniel Nitiutomo (2026), Claire Noel (2026), Harry Hartford (2014), Sarah Ketterer (2014), Daniel LeVan (2017), John Evers (2017). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI EAFE NR USD index with a weighting of 100%. Morgan Stanley Pathway Intl Eq has 946 securities in its portfolio. The top 10 holdings constitute 13.5% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.
Morgan Stanley Pathway Intl Eq is part of the Equity global asset class and is within the International Equity fund group. Morgan Stanley Pathway Intl Eq has 94.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 1.6%. There is 94.5% allocated to foreign stock, and 1.7% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). Morgan Stanley Pathway Intl Eq has 2.3% of the portfolio in cash.
Assets Under Management
The fund has $1 billion in total assets, which is below the $2 billion average for the Foreign Large Blend category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
TIEUX Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The Morgan Stanley Pathway Intl Eq expense ratio is above average compared to funds in the Foreign Large Blend category. Morgan Stanley Pathway Intl Eq has an expense ratio of 0.60%, which is 36% lower than its category average, making the fund expense ratio grade a B. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. Morgan Stanley Pathway Intl Eq has a portfolio turnover rate of 29%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 61% for the Foreign Large Blend category.
Recently, in the month of June 2026, Morgan Stanley Pathway Intl Eq returned 0.1%, which earned it a grade of D, as the Foreign Large Blend category had an average return of 0.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.
Morgan Stanley Pathway Intl Eq has a trailing yield of 2.60%, which is above the 2.19% category average. The fund normally distributes its income annually and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
Morgan Stanley Pathway Intl Eq Grades
Year to date, the fund has returned 8.4%, 2.5 percentage points worse than the category, which translates into a grade of D. The fund has returned 18.4% over the past year (grade of D), 14.8% over the past three years (grade of D) and 8.6% per year over the past five years (grade of C) and 9.5% per year over the past 10 years (grade of C).
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TIEUX Trailing NAV Total Returns Data as of 6/30/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| TIEUX Return (NAV) | 0.1% | 9.8% | 18.4% | 14.8% | 8.6% | 9.5% |
| TIEUX Grade | D | C | D | D | C | C |
| +/- Category | -0.4% | -0.8% | -2.9% | -1.9% | 0.3% | -0.0% |
| Foreign Large Blend Avg | 0.5% | 10.6% | 21.3% | 16.7% | 8.2% | 9.5% |
| TIEUX Tax Cost Ratio | na | na | 2.4% | 1.8% | 1.9% | 1.4% |
TIEUX Annual NAV Total ReturnsData as of 6/30/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| TIEUX Return (NAV) | 8.4% | 29.8% | 3.0% | 19.7% | -14.7% | 11.5% | 10.1% | 22.7% | -15.7% | 27.1% | -0.4% |
| TIEUX Grade | D | C | D | A | B | B | C | C | D | B | D |
| +/- Category | -2.5% | -0.7% | -1.9% | 3.5% | 1.7% | 1.3% | -1.7% | -0.2% | -0.5% | 0.8% | -1.3% |
| Foreign Large Blend Avg | 10.9% | 30.5% | 4.9% | 16.2% | -16.4% | 10.2% | 11.8% | 22.9% | -15.2% | 26.4% | 1.0% |
| Risk Measures | |
| Standard Deviation: | 13.1% |
| Total Risk Index: | 1.07 - Above Average |
| Category Risk Index: | 1.01 - Above Average |
| Category Risk Grade: | D (63% Rank) |
| Beta: | 0.90 |
| R-Squared: | 92% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Blend |
| Bond Investment Style: | na |
| Yield: | 2.6% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $1330 Mil |
| Fund Total Assets: | $1,330 Mil |
| Share Class Type: | No Load |
| Portfolio Turnover: | 29% |
Management Team
| Number of Managers: 21 | |||
| Longest Tenure: 15.5 years | |||
| Average Tenure: 6.7 years | |||
| Managers (Year): Webber Simon (2011), Eng Jonathan (2014), Muldoon Conor (2014), Valentini Alessandro (2014), Hartford Harry (2014), Ketterer Sarah (2014), Gautrey James (2014), Lee Ellen (2015), LeVan Daniel (2017), Evers John (2017), Nguyen Steven (2019), Henderson Jane (2021), Leckie Roy (2021), Skorniakov Maxim (2022), Fox Fraser (2022), Cho Brian (2026), Stanhope Ehren (2026), Nitiutomo Daniel (2026), Noel Claire (2026), Giroux Joseph (2026), Bartone Scott (2026) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 946 |
| % in Top 10 Holdings: | 13.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 94.5% |
Portfolio Allocation |
|
| Domestic Stock: | 1.6% |
| Foreign Stock: | 94.5% |
| Preferred Stock: | 1.7% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 2.3% |
Purchase Information
| Fund Family: | Morgan Stanley |
| Phone Number: | 800-869-3326 |
| Website: | www.smithbarney.com |
| Status: | Open |
| Inception Date: | November 18, 1991 |
| Min. Initial Purchase: | $ 0 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 0.60% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.94% |
| Share Class: | Morgan Stanley Pathway Intl Eq |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
