MainStay MacKay Short Duration High Yield Fund (MDHVX)
The fund, under normal circumstances, invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in high-yield debt securities that are rated below investment grade by a nationally recognized statistical rating organization ("NRSRO") or that are unrated but are considered to be of comparable quality by MacKay Shields LLC, the fund's Subadvisor. It will generally seek to maintain a weighted average duration of three years or less, although the fund may invest in instruments of any duration or maturity.
Fund Info
US56064B7617
Dec 17, 2012
$2,500
Expense Ratio
MDHVX has a high expense ratio of 1.10%, indicating higher-than-average management fees.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in MainStay MacKay Short Duration High Yield Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
MainStay MacKay Short Duration High Yield Fund had a return of 1.30% year-to-date (YTD) and 7.28% in the last 12 months. Over the past 10 years, MainStay MacKay Short Duration High Yield Fund had an annualized return of 4.41%, while the S&P 500 had an annualized return of 11.26%, indicating that MainStay MacKay Short Duration High Yield Fund did not perform as well as the benchmark.
MDHVX
1.30%
0.36%
3.05%
7.28%
4.37%
4.41%
^GSPC (Benchmark)
4.01%
1.13%
9.82%
22.80%
12.93%
11.26%
Monthly Returns
The table below presents the monthly returns of MDHVX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 1.20% | 1.30% | |||||||||||
| 2024 | 0.38% | 0.40% | 0.92% | -0.03% | 0.81% | 0.61% | 1.01% | 0.81% | 0.80% | 0.07% | 0.69% | -0.14% | 6.52% |
| 2023 | 2.27% | -0.45% | 1.11% | 0.77% | -0.26% | 0.88% | 1.02% | 0.27% | -0.19% | -0.13% | 2.20% | 2.04% | 9.88% |
| 2022 | -0.83% | -0.22% | -0.28% | -1.09% | -0.16% | -3.70% | 3.14% | -0.50% | -2.02% | 1.75% | 1.06% | 0.18% | -2.79% |
| 2021 | 0.69% | 0.51% | 0.47% | 0.83% | 0.45% | 0.71% | -0.12% | 0.30% | 0.40% | -0.19% | -0.71% | 0.99% | 4.39% |
| 2020 | -0.15% | -1.25% | -10.48% | 3.89% | 3.79% | 1.11% | 2.77% | 0.98% | -0.48% | -0.03% | 2.34% | 1.54% | 3.24% |
| 2019 | 2.79% | 1.07% | 0.53% | 0.88% | -0.45% | 1.17% | 0.15% | 0.37% | 0.26% | 0.27% | 0.46% | 1.19% | 9.01% |
| 2018 | 0.43% | -0.26% | 0.03% | 0.31% | 0.13% | 0.24% | 0.64% | 0.54% | 0.32% | -0.72% | -0.31% | -1.48% | -0.13% |
| 2017 | 0.68% | 0.55% | -0.06% | 0.64% | 0.61% | -0.18% | 0.72% | 0.23% | 0.52% | 0.12% | -0.07% | 0.45% | 4.30% |
| 2016 | -1.32% | 0.04% | 2.31% | 2.67% | 0.73% | 0.84% | 1.67% | 1.23% | 0.82% | 0.28% | -0.12% | 0.99% | 10.56% |
| 2015 | 0.28% | 1.71% | 0.08% | 0.99% | 0.47% | -0.23% | -0.02% | -0.84% | -1.02% | 1.53% | -0.82% | -1.87% | 0.21% |
| 2014 | 0.44% | 0.98% | 0.36% | 0.45% | 0.47% | 0.46% | -0.71% | 0.67% | -0.93% | 0.78% | -0.06% | -0.81% | 2.10% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 98, MDHVX is among the top 2% of mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for MainStay MacKay Short Duration High Yield Fund (MDHVX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
MainStay MacKay Short Duration High Yield Fund provided a 5.95% dividend yield over the last twelve months, with an annual payout of $0.57 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.57 | $0.57 | $0.53 | $0.40 | $0.37 | $0.46 | $0.43 | $0.41 | $0.40 | $0.49 | $0.46 | $0.44 |
Dividend yield | 5.95% | 6.01% | 5.55% | 4.33% | 3.81% | 4.72% | 4.38% | 4.33% | 4.02% | 4.94% | 4.88% | 4.49% |
Monthly Dividends
The table displays the monthly dividend distributions for MainStay MacKay Short Duration High Yield 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.05 | $0.00 | $0.05 | ||||||||||
| 2024 | $0.06 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.05 | $0.57 |
| 2023 | $0.05 | $0.04 | $0.04 | $0.04 | $0.05 | $0.04 | $0.04 | $0.05 | $0.04 | $0.05 | $0.04 | $0.05 | $0.53 |
| 2022 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.40 |
| 2021 | $0.04 | $0.03 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.37 |
| 2020 | $0.04 | $0.04 | $0.07 | $0.04 | $0.03 | $0.03 | $0.04 | $0.03 | $0.03 | $0.04 | $0.03 | $0.05 | $0.46 |
| 2019 | $0.04 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.05 | $0.04 | $0.43 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.41 |
| 2017 | $0.04 | $0.04 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.40 |
| 2016 | $0.05 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.49 |
| 2015 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.46 |
| 2014 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.44 |
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.
Worst Drawdowns
The table below displays the maximum drawdowns of the MainStay MacKay Short Duration High Yield 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 Short Duration High Yield Fund was 18.04%, occurring on Mar 23, 2020. Recovery took 160 trading sessions.
The current MainStay MacKay Short Duration High Yield Fund drawdown is 0.10%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -18.04% | Feb 24, 2020 | 21 | Mar 23, 2020 | 160 | Nov 5, 2020 | 181 |
| -6.48% | Jun 3, 2015 | 176 | Feb 11, 2016 | 53 | Apr 28, 2016 | 229 |
| -6.25% | Jan 18, 2022 | 114 | Jun 30, 2022 | 190 | Apr 3, 2023 | 304 |
| -2.79% | Oct 4, 2018 | 57 | Dec 26, 2018 | 24 | Jan 31, 2019 | 81 |
| -2.67% | Jul 10, 2014 | 112 | Dec 16, 2014 | 39 | Feb 12, 2015 | 151 |
Volatility
Volatility Chart
The current MainStay MacKay Short Duration High Yield Fund volatility is 0.41%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.