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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in MainStay MacKay Strategic Bond Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
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Returns By Period
MainStay MacKay Strategic Bond Fund (MASAX) has returned -0.03% so far this year and 5.36% over the past 12 months. Over the last ten years, MASAX has returned 10.75% per year, falling short of the S&P 500 Index benchmark, which averaged 12.16% annually.
MainStay MacKay Strategic Bond Fund
- 1D
- 0.34%
- 1M
- -1.69%
- YTD
- -0.03%
- 6M
- 1.32%
- 1Y
- 5.36%
- 3Y*
- 7.05%
- 5Y*
- 17.42%
- 10Y*
- 10.75%
Benchmark (S&P 500 Index)
- 1D
- 2.91%
- 1M
- -5.09%
- YTD
- -4.63%
- 6M
- -2.39%
- 1Y
- 16.33%
- 3Y*
- 16.69%
- 5Y*
- 10.18%
- 10Y*
- 12.16%
Monthly Returns
Based on dividend-adjusted daily data since Feb 28, 1997, MASAX's average daily return is +0.03%, while the average monthly return is +0.64%. At this rate, your investment would double in approximately 9.1 years.
Historically, 65% of months were positive and 35% were negative. The best month was Dec 2021 with a return of +90.2%, while the worst month was Oct 2008 at -10.4%. The longest winning streak lasted 11 consecutive months, and the longest losing streak was 6 months.
On a daily basis, MASAX closed higher 41% of trading days. The best single day was Dec 15, 2021 with a return of +89.1%, while the worst single day was Dec 19, 1997 at -2.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.49% | 1.19% | -1.69% | -0.03% | |||||||||
| 2025 | 1.02% | 1.56% | -0.01% | 0.29% | 0.17% | 1.62% | -0.04% | 1.37% | 0.51% | 0.57% | 0.51% | 0.27% | 8.11% |
| 2024 | 0.89% | -0.65% | 1.24% | -1.67% | 1.89% | 1.14% | 2.19% | 1.46% | 1.33% | -1.87% | 0.74% | -0.53% | 6.23% |
| 2023 | 3.57% | -1.22% | 0.27% | 0.85% | -0.23% | 0.60% | 0.85% | -0.23% | -1.09% | -1.00% | 3.46% | 3.54% | 9.61% |
| 2022 | -1.14% | -1.96% | -0.73% | -1.76% | -0.50% | -2.39% | 2.70% | -1.17% | -3.69% | -0.16% | 2.54% | 0.36% | -7.80% |
| 2021 | 0.24% | -0.06% | -0.03% | 0.74% | 0.38% | 0.50% | 0.28% | 0.08% | -0.06% | -0.07% | -0.67% | 90.15% | 92.69% |
Benchmark Metrics
MainStay MacKay Strategic Bond Fund has an annualized alpha of 7.22%, beta of 0.06, and R² of 0.01 versus S&P 500 Index. Calculated based on daily prices since March 03, 1997.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (33.22%) than losses (18.90%) — typical of diversified or defensive assets.
- Beta of 0.06 may look defensive, but with R² of 0.01 this fund is largely uncorrelated with S&P 500 Index — low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R² of 0.01 means this fund moves largely independently of S&P 500 Index — capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 7.22%
- Beta
- 0.06
- R²
- 0.01
- Upside Capture
- 33.22%
- Downside Capture
- 18.90%
Expense Ratio
MASAX has a high expense ratio of 1.04%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
MASAX ranks 91 for risk / return — in the top 91% of mutual funds on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for MainStay MacKay Strategic Bond Fund (MASAX) and compare them to a chosen benchmark (S&P 500 Index).
| MASAX | Benchmark | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.98 | 0.90 | +1.08 |
Sortino ratioReturn per unit of downside risk | 2.84 | 1.39 | +1.46 |
Omega ratioGain probability vs. loss probability | 1.40 | 1.21 | +0.19 |
Calmar ratioReturn relative to maximum drawdown | 2.62 | 1.40 | +1.22 |
Martin ratioReturn relative to average drawdown | 10.70 | 6.61 | +4.09 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Explore MASAX risk-adjusted metrics in detail
Dive deeper into individual metrics with historical trends, benchmark comparisons, and performance across different time periods.
Dividends
Dividend History
MainStay MacKay Strategic Bond Fund provided a 4.68% dividend yield over the last twelve months, with an annual payout of $0.41 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.41 | $0.44 | $0.45 | $0.37 | $0.26 | $4.45 | $0.21 | $0.24 | $0.28 | $0.24 | $0.37 | $0.31 |
Dividend yield | 4.68% | 5.00% | 5.24% | 4.35% | 3.15% | 49.01% | 2.31% | 2.74% | 3.34% | 2.75% | 4.28% | 3.62% |
Monthly Dividends
The table displays the monthly dividend distributions for MainStay MacKay Strategic Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.04 | $0.04 | $0.00 | $0.08 | |||||||||
| 2025 | $0.04 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.03 | $0.44 |
| 2024 | $0.04 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.45 |
| 2023 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.37 |
| 2022 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.04 | $0.26 |
| 2021 | $0.02 | $0.01 | $0.02 | $0.02 | $0.01 | $0.02 | $0.02 | $0.02 | $0.01 | $0.01 | $0.01 | $4.27 | $4.45 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the MainStay MacKay Strategic Bond Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the MainStay MacKay Strategic Bond Fund was 18.74%, occurring on Nov 21, 2008. Recovery took 173 trading sessions.
The current MainStay MacKay Strategic Bond Fund drawdown is 1.69%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -18.74% | May 21, 2008 | 130 | Nov 21, 2008 | 173 | Aug 3, 2009 | 303 |
| -13.76% | Feb 24, 2020 | 21 | Mar 23, 2020 | 83 | Jul 21, 2020 | 104 |
| -11.37% | Dec 31, 2021 | 203 | Oct 20, 2022 | 289 | Dec 14, 2023 | 492 |
| -10.67% | Aug 28, 2014 | 367 | Feb 11, 2016 | 134 | Aug 23, 2016 | 501 |
| -7.3% | May 11, 2011 | 103 | Oct 5, 2011 | 77 | Jan 26, 2012 | 180 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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