MainStay MacKay High Yield Corporate Bond Fund Class A (MHCAX)
The fund seeks maximum current income through investing in a diversified portfolio of high-yield debt securities; capital appreciation is a secondary objective. The fund, under normal circumstances, invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in high-yield corporate debt securities, including all types of high-yield domestic and foreign corporate debt securities that are rated below investment grade or that are unrated but are considered to be of comparable quality by the Subadvisor. In addition, it may invest up to 20% of its net assets in common stocks and other equity-related securities.
Fund Info
| ISIN | US56062F7722 |
|---|---|
| CUSIP | 56062F772 |
| Issuer | New York Life Investments |
| Inception Date | May 1, 1986 |
| Category | High Yield Bonds |
| Min. Investment | $15,000 |
| Asset Class | Bond |
Expense Ratio
MHCAX has a high expense ratio of 0.95%, indicating higher-than-average management fees.
Share Price Chart
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Popular comparisons: MHCAX vs. TIPX, MHCAX vs. 1000
Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in MainStay MacKay High Yield Corporate Bond Fund Class A, 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 High Yield Corporate Bond Fund Class A had a return of 6.91% year-to-date (YTD) and 10.83% in the last 12 months. Over the past 10 years, MainStay MacKay High Yield Corporate Bond Fund Class A had an annualized return of 4.69%, while the S&P 500 had an annualized return of 11.39%, indicating that MainStay MacKay High Yield Corporate Bond Fund Class A did not perform as well as the benchmark.
| Period | Return | Benchmark |
|---|---|---|
| Year-To-Date | 6.91% | 25.48% |
| 1 month | 0.47% | 2.14% |
| 6 months | 4.48% | 12.76% |
| 1 year | 10.83% | 33.14% |
| 5 years (annualized) | 4.09% | 13.96% |
| 10 years (annualized) | 4.69% | 11.39% |
Monthly Returns
The table below presents the monthly returns of MHCAX, 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | 0.10% | 0.21% | 1.47% | -0.44% | 0.88% | 0.68% | 1.46% | 1.25% | 0.84% | -0.29% | 6.91% | ||
| 2023 | 2.91% | -1.15% | 1.84% | 0.84% | -0.71% | 1.07% | 1.28% | 0.28% | -1.13% | -0.46% | 3.34% | 2.78% | 11.28% |
| 2022 | -2.26% | -0.34% | -0.72% | -2.78% | 0.41% | -5.75% | 4.94% | -1.94% | -3.39% | 2.31% | 1.66% | -0.18% | -8.17% |
| 2021 | 0.41% | 0.41% | 0.23% | 1.12% | 0.41% | 1.12% | 0.23% | 0.40% | 0.23% | -0.30% | -1.01% | 1.68% | 5.01% |
| 2020 | -0.42% | -1.32% | -11.10% | 4.42% | 3.86% | 0.87% | 4.29% | 1.02% | -0.80% | 0.11% | 3.01% | 1.68% | 4.73% |
| 2019 | 3.68% | 1.38% | 0.83% | 1.18% | -0.79% | 1.91% | 0.28% | 0.64% | 0.46% | 0.28% | 0.64% | 1.53% | 12.66% |
| 2018 | 0.45% | -0.59% | -0.42% | 0.28% | -0.07% | 0.11% | 1.00% | 1.00% | 0.11% | -1.32% | -0.62% | -1.91% | -2.00% |
| 2017 | 1.22% | 1.04% | -0.34% | 1.04% | 0.69% | -0.17% | 1.04% | 0.17% | 0.87% | 0.17% | -0.00% | 0.70% | 6.60% |
| 2016 | -1.70% | 0.39% | 3.87% | 3.37% | 0.91% | 1.09% | 2.35% | 2.13% | 0.87% | 0.35% | -0.35% | 1.41% | 15.57% |
| 2015 | 0.52% | 2.26% | -0.34% | 1.38% | 0.51% | -1.03% | -0.00% | -1.40% | -1.61% | 2.00% | -1.43% | -2.38% | -1.61% |
| 2014 | 0.71% | 1.70% | 0.38% | 0.37% | 0.70% | 0.87% | -1.26% | 1.05% | -1.77% | 0.72% | -0.62% | -1.48% | 1.32% |
| 2013 | 1.23% | 0.57% | 0.73% | 1.46% | -0.41% | -2.19% | 1.42% | -0.25% | 0.75% | 2.09% | 0.25% | 0.41% | 6.17% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current risk-adjusted rank of MHCAX is 96, placing it in the top 4% of mutual funds on our website in terms of risk-adjusted performance. This ranking is based on the combined values of the indicators listed below.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for MainStay MacKay High Yield Corporate Bond Fund Class A (MHCAX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
MainStay MacKay High Yield Corporate Bond Fund Class A provided a 5.92% dividend yield over the last twelve months, with an annual payout of $0.31 per share.
| Period | TTM | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.31 | $0.29 | $0.25 | $0.28 | $0.31 | $0.31 | $0.31 | $0.36 | $0.36 | $0.36 | $0.40 | $0.43 |
Dividend yield | 5.92% | 5.56% | 5.17% | 4.91% | 5.44% | 5.49% | 5.85% | 6.26% | 6.27% | 6.79% | 6.90% | 7.02% |
Monthly Dividends
The table displays the monthly dividend distributions for MainStay MacKay High Yield Corporate Bond Fund Class A. 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2024 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.00 | $0.26 | |
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.29 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.25 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.28 |
| 2020 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.31 |
| 2019 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.31 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.31 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.36 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.36 |
| 2015 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.36 |
| 2014 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.40 |
| 2013 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.43 |
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 High Yield Corporate Bond Fund Class A. 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 High Yield Corporate Bond Fund Class A was 29.56%, occurring on Dec 16, 2008. Recovery took 188 trading sessions.
The current MainStay MacKay High Yield Corporate Bond Fund Class A drawdown is 0.19%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -29.56% | Jun 5, 2007 | 387 | Dec 16, 2008 | 188 | Sep 16, 2009 | 575 |
| -18.99% | Feb 24, 2020 | 21 | Mar 23, 2020 | 110 | Aug 27, 2020 | 131 |
| -17.54% | Sep 8, 2000 | 521 | Oct 10, 2002 | 119 | Apr 2, 2003 | 640 |
| -11.76% | Jan 5, 2022 | 185 | Sep 29, 2022 | 298 | Dec 6, 2023 | 483 |
| -11.57% | Jul 22, 1998 | 57 | Oct 8, 1998 | 131 | Apr 9, 1999 | 188 |
Volatility
Volatility Chart
The current MainStay MacKay High Yield Corporate Bond Fund Class A volatility is 0.59%, 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.