MainStay MacKay High Yield Municipal Bond Fund (MMHVX) belongs to the High Yield Muni category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with MMHVX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to MMHVX
MMHVX charges 0.87% annually. There are 39 mutual funds in the High Yield Muni category with lower expense ratios, going as low as 0.09%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Vanguard High-Yield Tax-Exempt Fund Admiral Shares | 0.09% | 17.60B | Nov 2001 | MMHVX vs VWALX | |
| BlackRock Allocation Target Shares Series E Portfo... | 0.11% | — | Aug 2014 | MMHVX vs BATEX | |
| Vanguard High-Yield Tax-Exempt Fund Investor Share... | 0.17% | 17.60B | Dec 1978 | MMHVX vs VWAHX | |
| Eaton Vance High Yield Municipal Income Fund Class... | 0.18% | — | May 2007 | MMHVX vs EWHYX | |
| American High-Income Municipal Bond Fund Class F-3 | 0.31% | — | Jan 2017 | MMHVX vs HIMFX |
Best Risk-Adjusted Alternatives to MMHVX
MMHVX has a PortfoliosLab risk / return rank of 91. There are 10 mutual funds in the High Yield Muni category with higher risk-adjusted ranks, going as high as 97.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| T. Rowe Price Tax Free High Yield Fund | 97 | — | Feb 1985 | MMHVX vs PRFHX | |
| Federated Hermes Municipal High Yield Advtg Fd | 96 | — | Apr 1987 | MMHVX vs FHTFX | |
| Invesco Short Duration High Yield Municipal Fund | 95 | — | Sep 2015 | MMHVX vs ISHYX | |
| Columbia High Yield Municipal Fund | 94 | — | Mar 1984 | MMHVX vs SRHMX | |
| Allspring High Yield Municipal Bond Fund | 93 | — | Jan 2013 | MMHVX vs WHYIX |
Top Performing MMHVX Alternatives (YTD)
MMHVX is at 3.38% YTD. There are 15 mutual funds in the High Yield Muni category with higher YTD returns, going as high as 6.66%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Municipal High Income Opportunity Fund | 6.66% | — | Nov 2003 | MMHVX vs NMZ | |
| Eaton Vance High Yield Municipal Income Fund Class... | 3.93% | — | May 2007 | MMHVX vs EWHYX | |
| Nuveen High Yield Municipal Bond Fund Class R6 | 3.83% | — | Jun 2016 | MMHVX vs NHMFX | |
| Nuveen High Yield Municipal Bond Fund | 3.81% | — | Jun 1999 | MMHVX vs NHMRX | |
| Columbia High Yield Municipal Fund | 3.80% | — | Mar 1984 | MMHVX vs SRHMX |
Lowest Volatility Alternatives to MMHVX
MMHVX has 3.57% 1-year volatility. There are 34 mutual funds in the High Yield Muni category with lower 1-year volatility, going as low as 2.07%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| Redwood Managed Municipal Income Fund | 2.07% | — | Mar 2017 | MMHVX vs RWMIX | |
| Lord Abbett Short Duration High Income Municipal B... | 2.07% | — | Jun 2015 | MMHVX vs SDHIX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | 2.23% | — | Jan 2013 | MMHVX vs NVHIX | |
| Invesco Short Duration High Yield Municipal Fund | 2.29% | — | Sep 2015 | MMHVX vs ISHYX | |
| Counterpoint Tactical Municipal Fund | 2.58% | — | Jun 2018 | MMHVX vs TMNIX |
Lowest Drawdown Alternatives to MMHVX
MMHVX has a 1-year max drawdown of -3.11%. There are 37 mutual funds in the High Yield Muni category with shallower 1-year drawdowns, going as shallow as -1.71%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| First Eagle Short Duration High Yield Municipal Fu... | -1.71% | — | Feb 2024 | MMHVX vs FDUAX | |
| Nuveen Short Duration High Yield Municipal Bond Fu... | -1.79% | — | Jan 2013 | MMHVX vs NVHIX | |
| Invesco Short Duration High Yield Municipal Fund | -1.89% | — | Sep 2015 | MMHVX vs ISHYX | |
| abrdn Short Duration High Yield Municipal Fund | -1.98% | — | May 2013 | MMHVX vs AHYMX | |
| Lord Abbett Short Duration High Income Municipal B... | -2.08% | — | Jun 2015 | MMHVX vs SDHIX |
Other Mutual Funds from MainStay
The 6 most viewed MainStay mutual funds shown here include MDHVX, MTFEX, MCYVX and span 4 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| MainStay MacKay Short Duration High Yield Fund | High Yield Bonds | 93 | 2.11% | — | Dec 2012 | MMHVX vs MDHVX | |
| MainStay MacKay Strategic Municipal Allocation Fun... | Municipal Bonds | 75 | 1.56% | — | Jun 2019 | MMHVX vs MTFEX | |
| MainStay Candriam Emerging Markets Equity Fund | Emerging Markets Diversified | 83 | 23.25% | — | Nov 2017 | MMHVX vs MCYVX | |
| MainStay Epoch Capital Growth Fund | Global Equities | 29 | 7.62% | — | Jun 2016 | MMHVX vs MECVX | |
| MainStay MacKay New York Tax Free Opportunities Fu... | Municipal Bonds | 89 | 2.84% | — | May 2012 | MMHVX vs MNOVX | |
| MainStay MacKay California Tax Free Opportunities ... | Municipal Bonds | 77 | 1.95% | — | Feb 2013 | MMHVX vs MSCVX |
Often Compared With MMHVX
Investors most often compare MMHVX with VTEB, FNSTX, FRHIX. These 20 comparison targets span 13 categories, based on PortfoliosLab usage data.
Compare MMHVX with Any Fund or Stock
Compare MMHVX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair MMHVX with funds that move differently
MainStay MacKay High Yield Municipal Bond Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to MMHVX.
Explore MMHVX Diversifiers