- ISIN
- US56062F4000
- CUSIP
- 56062F400
- Issuer
- New York Life
- Inception Date
- May 1, 1986
- Category
- High Yield Bonds
- Min. Investment
- $1,000
- Distribution Policy
- Accumulating
- Asset Class
- Bond
Share Price Chart
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Performance
MKHCX Performance Chart
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Returns By Period
MainStay MacKay High Yield Corporate Bond Fund
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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%
MKHCX Monthly Returns History
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 1.20% | 0.19% | -0.57% | 0.00% | 0.19% | 0.00% | 0.00% | 0.00% | 1.00% | ||||
| 2024 | 0.02% | 0.14% | 1.19% | -0.54% | 0.81% | 0.80% | 1.19% | 1.18% | 0.76% | -0.36% | 0.78% | -0.36% | 5.72% |
| 2023 | 3.05% | -1.23% | 1.77% | 0.77% | -0.99% | 1.19% | 1.20% | 0.00% | -1.01% | -0.75% | 3.30% | 2.91% | 10.54% |
| 2022 | -2.33% | -0.42% | -0.80% | -2.87% | 0.33% | -5.86% | 4.89% | -1.84% | -3.69% | 2.45% | 1.58% | -0.47% | -9.09% |
| 2021 | 0.35% | 0.35% | 0.17% | 0.89% | 0.53% | 0.88% | 0.17% | 0.35% | 0.17% | -0.36% | -1.08% | 1.62% | 4.07% |
Benchmark Metrics
MainStay MacKay High Yield Corporate Bond Fund has an annualized alpha of 3.21%, beta of 0.07, and R2 of 0.10 versus S&P 500 Index. Calculated based on daily prices since April 30, 1986.
- This fund participated in 29.59% of S&P 500 Index downside but only 27.75% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.07 may look defensive, but with R2 of 0.10 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 0.10 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
- 3.21%
- Beta
- 0.07
- R²
- 0.10
- Upside Capture
- 27.75%
- Downside Capture
- 29.59%
Expense Ratio
MKHCX has a high expense ratio of 1.83%, indicating above-average management fees.
Return for Risk
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for MainStay MacKay High Yield Corporate Bond Fund (MKHCX) 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.
| MKHCX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.37 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.78 | — |
| Martin ratioReturn relative to average drawdown | — | 12.44 | — |
Dividends
Dividend History
MainStay MacKay High Yield Corporate Bond Fund provided a 0.00% dividend yield over the last twelve months, with an annual payout of $0.00 per share. The fund has been increasing its distributions for 2 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.00 | $0.26 | $0.24 | $0.21 | $0.23 | $0.26 | $0.27 | $0.27 | $0.31 | $0.31 | $0.31 |
Dividend yield | 0.00% | 4.98% | 4.69% | 4.21% | 4.19% | 4.72% | 4.78% | 5.09% | 5.39% | 5.40% | 5.85% |
Monthly Dividends
The table displays the monthly dividend distributions for MainStay MacKay High Yield Corporate 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.02 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.02 | ||||
| 2024 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.26 |
| 2023 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.24 |
| 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 | $0.21 |
| 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 | $0.23 |
| 2020 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.26 |
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 High Yield Corporate 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 High Yield Corporate Bond Fund was 43.14%, occurring on Jan 14, 1991. Recovery took 1472 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
1991 bear market1991 | -43.14%Jan 1991 | 4y 7mo | 5y 9mo | 10y 5moJun 1986 - Nov 1996 |
Financial crisis2007–2009 | -30.38%Dec 2008 | 1y 6mo | 9mo 26d | 2y 4moJun 2007 - Oct 2009 |
COVID crash2020 | -19.25%Mar 2020 | 2mo 6d | 5mo 13d | 7mo 19dJan 2020 - Sep 2020 |
Dot-com crash2000–2002 | -18.90%Oct 2002 | 2y 28d | 6mo 9d | 2y 7moSep 2000 - Apr 2003 |
Bear market2022 | -12.55%Sep 2022 | 1y 9d | 1y 2mo | 2y 3moSep 2021 - Dec 2023 |
Drawdown Indicators
| MKHCX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -56.78% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -9.10% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | — | -1.80% | — |
Average DrawdownAverage peak-to-trough decline | — | -10.71% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 2.03% | — |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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