- ISIN
- US56062F4752
- CUSIP
- 56062F475
- Issuer
- New York Life
- Inception Date
- May 31, 1998
- Category
- Emerging Markets Bonds
- Min. Investment
- $15,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
MGHAX Performance Chart
MainStay Candriam Emerging Markets Debt Fund (MGHAX) is up 2.5% since the beginning of the year. MGHAX is currently trading at $8 per share. Investors who bought $1,000 worth of MGHAX shares 5 years ago would now be looking at an investment worth $1,475.
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Returns By Period
MainStay Candriam Emerging Markets Debt Fund (MGHAX) has returned 2.52% so far this year and 12.59% over the past 12 months. Over the last ten years, MGHAX has returned 6.45% per year, falling short of the S&P 500 Index benchmark, which averaged 13.88% annually.
MainStay Candriam Emerging Markets Debt Fund
- 1D
- 0.12%
- 1M
- 2.28%
- YTD
- 2.52%
- 6M
- 2.90%
- 1Y
- 12.59%
- 3Y*
- 10.99%
- 5Y*
- 8.08%
- 10Y*
- 6.45%
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
MGHAX Monthly Returns History
Based on dividend-adjusted daily data since May 29, 1998, MGHAX's average daily return is +0.03%, while the average monthly return is +0.66%. At this rate, an investment would double in approximately 8.8 years.
Historically, 65% of months were positive and 35% were negative. The best month was Dec 2022 with a return of +31.9%, while the worst month was Aug 1998 at -26.7%. The longest winning streak lasted 14 consecutive months, and the longest losing streak was 5 months.
On a daily basis, MGHAX closed higher 50% of trading days. The best single day was Dec 21, 2022 with a return of +32.1%, while the worst single day was Aug 27, 1998 at -7.9%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.97% | 0.54% | -4.00% | 2.98% | 1.40% | 0.74% | 2.52% | ||||||
| 2025 | 2.03% | 1.19% | -1.05% | -1.21% | 1.14% | 2.69% | 1.31% | 1.61% | 1.57% | 2.18% | 0.40% | 0.74% | 13.27% |
| 2024 | -0.77% | 1.09% | 2.45% | -1.55% | 1.53% | 0.25% | 1.67% | 2.14% | 1.98% | -1.47% | 1.11% | -1.74% | 6.74% |
| 2023 | 3.42% | -2.96% | 0.68% | 0.26% | -0.42% | 3.04% | 2.42% | -1.71% | -2.96% | 0.14% | 5.55% | 5.54% | 13.27% |
| 2022 | -2.89% | -5.12% | 0.27% | -5.76% | -0.16% | -6.78% | 2.64% | -1.11% | -6.88% | -0.08% | 8.20% | 31.93% | 9.23% |
| 2021 | -1.32% | -2.35% | -0.86% | 1.95% | 0.97% | 0.34% | -0.25% | 1.55% | -2.56% | -0.43% | -3.02% | 1.16% | -4.88% |
Benchmark Metrics
MainStay Candriam Emerging Markets Debt Fund has an annualized alpha of 6.49%, beta of 0.14, and R2 of 0.07 versus S&P 500 Index. Calculated based on daily prices since May 29, 1998.
- This fund participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (46.61%) than losses (36.85%) - typical of diversified or defensive assets.
- Beta of 0.14 may look defensive, but with R2 of 0.07 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 0.07 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
- 6.49%
- Beta
- 0.14
- R²
- 0.07
- Upside Capture
- 46.61%
- Downside Capture
- 36.85%
Expense Ratio
MGHAX has a high expense ratio of 1.15%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
MGHAX ranks 74 for risk / return — better than 74% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for MainStay Candriam Emerging Markets Debt Fund (MGHAX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MGHAX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.61 | ||
| Sortino ratioReturn per unit of downside risk | +1.42 | ||
| Omega ratioGain probability vs. loss probability | 1.52 | 1.37 | +0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.67 | 2.78 | -0.11 |
| Martin ratioReturn relative to average drawdown | 10.65 | 12.44 | -1.78 |
Dividends
Dividend History
MainStay Candriam Emerging Markets Debt Fund provided a 6.36% dividend yield over the last twelve months, with an annual payout of $0.52 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.52 | $0.53 | $0.58 | $0.46 | $2.26 | $0.47 | $0.57 | $0.45 | $0.48 | $0.45 | $0.54 | $0.57 |
Dividend yield | 6.36% | 6.49% | 7.62% | 5.95% | 31.14% | 5.06% | 5.54% | 4.24% | 4.96% | 4.18% | 5.29% | 6.11% |
Monthly Dividends
The table displays the monthly dividend distributions for MainStay Candriam Emerging Markets Debt 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 | $0.05 | $0.02 | $0.03 | $0.03 | $0.03 | $0.00 | $0.17 | ||||||
| 2025 | $0.05 | $0.02 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.03 | $0.04 | $0.03 | $0.13 | $0.53 |
| 2024 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.17 | $0.58 |
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.25 | $0.46 |
| 2022 | $0.03 | $0.03 | $0.02 | $0.04 | $0.04 | $0.03 | $0.04 | $0.04 | $0.03 | $0.03 | $0.17 | $1.77 | $2.26 |
| 2021 | $0.03 | $0.03 | $0.04 | $0.00 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.16 | $0.47 |
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 Candriam Emerging Markets Debt 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 Candriam Emerging Markets Debt Fund was 33.23%, occurring on Sep 11, 1998. Recovery took 368 trading sessions.
The current MainStay Candriam Emerging Markets Debt Fund drawdown is 0.24%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
1998 bear market1998 | -33.23%Sep 1998 | 3mo 5d | 1y 5mo | 1y 8moJun 1998 - Feb 2000 |
Financial crisis2007–2009 | -32.19%Oct 2008 | 4mo 19d | 9mo 6d | 1y 1moJun 2008 - Jul 2009 |
Bear market2022 | -29.61%Oct 2022 | 1y 9mo | 2mo 1d | 1y 11moJan 2021 - Dec 2022 |
COVID crash2020 | -27.46%Mar 2020 | 28d | 9mo 17d | 10mo 15dFeb 2020 - Jan 2021 |
2016 correction2016 | -15.31%Jan 2016 | 1y 5mo | 5mo 17d | 1y 11moJul 2014 - Jul 2016 |
Drawdown Indicators
| MGHAX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.23% | -56.78% | +23.55% |
Max Drawdown (1Y)Largest decline over 1 year | -4.70% | -9.10% | +4.40% |
Max Drawdown (3Y)Largest decline over 3 years | -6.87% | -18.90% | +12.03% |
Max Drawdown (5Y)Largest decline over 5 years | -29.50% | -25.43% | -4.07% |
Max Drawdown (10Y)Largest decline over 10 years | -29.61% | -33.92% | +4.31% |
Current DrawdownCurrent decline from peak | -0.24% | -1.80% | +1.56% |
Average DrawdownAverage peak-to-trough decline | -4.50% | -10.71% | +6.21% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.17% | 2.03% | -0.86% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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