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MainStay Floating Rate Fund (MXFIX) Diversifiers

Mutual Fund · Currency in USD · Last updated Jul 17, 2026

The fund invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in a portfolio of floating rate loans and other floating rate debt securities. When the fund's Subadvisor believes that market or economic conditions are unfavorable to investors, up to 100% of the fund's assets may be invested in money market or short-term debt securities. The fund may invest up to 25% of its total assets in foreign securities which are generally U.S. dollar-denominated loans and other debt securities issued by one or more non-U.S. borrower(s) without a U.S. domiciled co-borrower.

Looking to diversify beyond MXFIX? The mutual funds below have the lowest correlation with MXFIX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from MXFIX.

Best Diversifiers for MXFIX

14 mutual funds have low correlation with MXFIX (below 0.3), 2 of which are negatively correlated. The least correlated is MainStay Cushing MLP Premier Fund (CSHZX) (Energy Equities) with a 1Y correlation of -0.13, down from 0.16 over 5 years.

SymbolNameCorrelation 1YCorrelation 3YCorrelation 5YRisk / Return RankCategoryCompare
CSHZX
MainStay Cushing MLP Premier Fund-0.130.060.16
73
Energy EquitiesMXFIX vs CSHZX
XPTFX
Federated Hermes Project and Trade Finance Tender ...-0.090.050.12
89
Bank LoanMXFIX vs XPTFX
MIXIX
MainStay Short Term Bond Fund0.090.090.09
92
Short-Term BondMXFIX vs MIXIX
CAPIX
Calamos Aksia Alternative Credit and Income Fund C...0.11——
99
Bank LoanMXFIX vs CAPIX
MASAX
MainStay MacKay Strategic Bond Fund0.190.160.23
81
Nontraditional BondsMXFIX vs MASAX
See all 38 diversifiers for MXFIX

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Diversification Analysis

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