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Morningstar Defensive Bond Fund MSTBX
Historical return decomposition and an investable replication portfolio, using data through 2026-10-09.
Fund and replication metrics
| Measure | MSTBX | Replication |
|---|---|---|
| Annualized growth | 2.5% | 2.1% |
| Annualized volatility | 2.2% | 2.1% |
| Sharpe ratio | 1.15 | 1.02 |
| Maximum drawdown | 5.9% | 6.3% |
| Replication fit (R²) | 0.92 · Tracking error 0.6% | |
Replication portfolio
The published portfolio below is the investable basket used to model MSTBX’s historical return behavior.
| Ticker | Building block | Weight |
|---|---|---|
| VGSH | FI · Short Gov | 56.9% |
| VCSH | FI · Short Corp | 35.0% |
| STIP | FI · Short TIPS | 8.1% |