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MainStay MacKay Strategic Bond Fund (MASAX) Sharpe Ratio: 2.54

Mutual Fund · Currency in USD · Last updated Jun 3, 2026

The investment seeks total return by investing primarily in domestic and foreign debt securities. The fund normally invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in a diversified portfolio of debt or debt-related securities. The average portfolio duration of the fund will normally vary from 0 to 7 years. The fund may invest in derivatives, such as futures, options, forward commitments and interest rate swap agreements to try to enhance returns or reduce the risk of loss by hedging certain of its holdings or manage duration. It may invest up to 25% of its total assets in swaps.

MASAX's Sharpe Ratio of 2.54 indicates that for each unit of volatility, it generates 2.54 units of excess return above the risk-free rate. The ratio is calculated using historical daily returns over the past 12 months (as of Jun 3, 2026).

Sharpe uses total volatility (standard deviation) which includes both upside and downside price movements, making it useful for comparing risk-adjusted returns across different assets.

MASAX Sharpe Ratio Rank

MASAX Sharpe Ratio Rank: 76.576
Above Average

MASAX ranks above 76.5% of all investments in our database based on Sharpe Ratio over the past 12 months, indicating above-average returns relative to volatility. Securities are ranked from 0 (worst) to 100 (best).

What moves the rank

  • Strong returns with low total volatility → Higher rank
  • High volatility (both upside and downside) → Lower rank
  • Consistent returns → Higher rank than volatile returns of same magnitude
  • Sharp drawdowns increase volatility → Lower rank

What you can do with this information

  • Above-average risk-adjusted returns with room for improvement
  • Compare against category peers to gauge relative positioning
  • Monitor for movement toward top tier or decline toward median
  • Consider pairing with top-tier holdings to improve portfolio efficiency

MASAX Sharpe Ratio Market Positioning

The chart shows MASAX's Sharpe Ratio relative to all mutual funds on our platform, with color zones indicating percentile rankings. Higher ratios indicate better risk-adjusted returns.

  • Red zone (bottom 25%): 1.42 or lower
  • Yellow zone (middle 50%): 1.42 to 2.51
  • Green zone (top 25%): 2.51 or higher
  • Top 1%: 4.65+
  • Median: 2.08 — half of all investments score higher

How it compares to other similar mutual funds

The table compares MainStay MacKay Strategic Bond Fund's Sharpe Ratio with other mutual funds in the Nontraditional Bonds category across multiple time periods, showing how MASAX's risk-adjusted performance compares to similar funds.

Data shows 1-, 5-, and 10-year periods, plus each fund's all-time average, as of Jun 3, 2026.

SymbolName1Y Sharpe Ratio5Y Sharpe Ratio10Y Sharpe RatioAll Time Sharpe Ratio
CBYYXVictory Pioneer Cat Bond Fund Class Y9.05
EIGMXEaton Vance Global Macro Absolute Return Fund6.51
EGRIXEaton Vance Global Macro Absolute Return Advantage Fund5.51
APFPXArtisan Global Unconstrained Fund4.95
DFLEXDoubleLine Flexible Income Fund4.44
SCFZXPGIM Securitized Credit Fund4.09
MAHIXiMGP High Income Alternatives Fund3.79
AFLIXAnfield Universal Fixed Income Fund3.78
BGCIXBlackRock Global Long/Short Credit Fund3.56
GMODXGMO Opportunistic Income Fund3.47
MASAXMainStay MacKay Strategic Bond Fund2.54

S&P 500 Index

How to choose period

Historical Sharpe Ratio

The chart shows MASAX's rolling Sharpe ratio over time compared to your chosen benchmark. Rising trends indicate improving returns relative to total volatility, while declining trends may signal deteriorating risk-adjusted performance or increased volatility. Use multiple timeframes to distinguish short-term fluctuations from long-term patterns.

Identify market cycles by observing when MASAX consistently outperforms (line above benchmark), underperforms (below benchmark), or aligns with the benchmark.

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