CPMPX vs. MDHVX
Compare and contrast key facts about Changing Parameters Fund (CPMPX) and MainStay MacKay Short Duration High Yield Fund (MDHVX).
CPMPX is managed by Changing Parameters. It was launched on Oct 2, 2006. MDHVX is managed by MainStay. It was launched on Dec 17, 2012.
Performance
CPMPX vs. MDHVX - Performance Comparison
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CPMPX vs. MDHVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
CPMPX Changing Parameters Fund | 0.09% | 6.65% | -3.47% | 8.13% | -0.22% | 3.86% | 13.43% | 6.82% | -1.19% | 5.29% |
MDHVX MainStay MacKay Short Duration High Yield Fund | -0.31% | 5.38% | 6.51% | 9.86% | -2.81% | 4.38% | 2.92% | 9.00% | -0.13% | 4.30% |
Returns By Period
In the year-to-date period, CPMPX achieves a 0.09% return, which is significantly higher than MDHVX's -0.31% return. Over the past 10 years, CPMPX has underperformed MDHVX with an annualized return of 4.32%, while MDHVX has yielded a comparatively higher 4.80% annualized return.
CPMPX
- 1D
- 0.00%
- 1M
- -1.12%
- YTD
- 0.09%
- 6M
- 1.24%
- 1Y
- 6.34%
- 3Y*
- 3.14%
- 5Y*
- 2.65%
- 10Y*
- 4.32%
MDHVX
- 1D
- 0.11%
- 1M
- -0.85%
- YTD
- -0.31%
- 6M
- 0.33%
- 1Y
- 3.92%
- 3Y*
- 6.10%
- 5Y*
- 4.17%
- 10Y*
- 4.80%
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CPMPX vs. MDHVX - Expense Ratio Comparison
CPMPX has a 2.90% expense ratio, which is higher than MDHVX's 1.10% expense ratio.
Return for Risk
CPMPX vs. MDHVX — Risk / Return Rank
CPMPX
MDHVX
CPMPX vs. MDHVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Changing Parameters Fund (CPMPX) and MainStay MacKay Short Duration High Yield Fund (MDHVX). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| CPMPX | MDHVX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 3.43 | 1.66 | +1.77 |
Sortino ratioReturn per unit of downside risk | 5.56 | 2.17 | +3.40 |
Omega ratioGain probability vs. loss probability | 1.91 | 1.43 | +0.47 |
Calmar ratioReturn relative to maximum drawdown | 4.84 | 1.41 | +3.44 |
Martin ratioReturn relative to average drawdown | 19.28 | 7.34 | +11.95 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| CPMPX | MDHVX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 3.43 | 1.66 | +1.77 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.70 | 1.64 | -0.94 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.38 | 1.41 | -0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.10 | 1.34 | -0.24 |
Correlation
The correlation between CPMPX and MDHVX is 0.49, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
CPMPX vs. MDHVX - Dividend Comparison
CPMPX's dividend yield for the trailing twelve months is around 3.82%, less than MDHVX's 4.98% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
CPMPX Changing Parameters Fund | 3.82% | 3.83% | 0.00% | 4.26% | 5.03% | 4.24% | 6.94% | 2.85% | 1.71% | 3.32% | 2.25% | 1.51% |
MDHVX MainStay MacKay Short Duration High Yield Fund | 4.98% | 5.47% | 6.01% | 5.53% | 4.31% | 3.80% | 4.44% | 4.37% | 4.33% | 4.03% | 4.95% | 4.87% |
Drawdowns
CPMPX vs. MDHVX - Drawdown Comparison
The maximum CPMPX drawdown since its inception was -8.87%, smaller than the maximum MDHVX drawdown of -18.04%. Use the drawdown chart below to compare losses from any high point for CPMPX and MDHVX.
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Drawdown Indicators
| CPMPX | MDHVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.87% | -18.04% | +9.17% |
Max Drawdown (1Y)Largest decline over 1 year | -1.31% | -2.32% | +1.01% |
Max Drawdown (5Y)Largest decline over 5 years | -8.13% | -6.26% | -1.87% |
Max Drawdown (10Y)Largest decline over 10 years | -8.13% | -18.04% | +9.91% |
Current DrawdownCurrent decline from peak | -1.83% | -0.95% | -0.88% |
Average DrawdownAverage peak-to-trough decline | -1.87% | -0.79% | -1.08% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.33% | 0.47% | -0.14% |
Volatility
CPMPX vs. MDHVX - Volatility Comparison
Changing Parameters Fund (CPMPX) and MainStay MacKay Short Duration High Yield Fund (MDHVX) have volatilities of 0.78% and 0.75%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| CPMPX | MDHVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.78% | 0.75% | +0.03% |
Volatility (6M)Calculated over the trailing 6-month period | 1.38% | 1.36% | +0.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.90% | 2.44% | -0.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.83% | 2.57% | +1.26% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.13% | 3.43% | -0.30% |