EIBRX vs. MDHVX

Last updated Jun 24, 2026

EIBRX (Eaton Vance Income Fund of Boston Class R6) and MDHVX (MainStay MacKay Short Duration High Yield Fund) are both High Yield Bonds funds. Over the past 10 years, EIBRX returned 5.59%/yr vs 4.63%/yr for MDHVX. A 0.71 correlation means they provide meaningful diversification when combined. EIBRX charges 0.62%/yr vs 1.10%/yr for MDHVX.

Performance

EIBRX vs. MDHVX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in Eaton Vance Income Fund of Boston Class R6 (EIBRX) and MainStay MacKay Short Duration High Yield Fund (MDHVX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EIBRX achieves a 1.17% return, which is significantly lower than MDHVX's 1.85% return. Over the past 10 years, EIBRX has outperformed MDHVX with an annualized return of 5.59%, while MDHVX has yielded a comparatively lower 4.63% annualized return.

EIBRX

• 1D: 0.00%
• 1M: 0.93%
• YTD: 1.17%
• 6M: 1.91%
• 1Y: 6.19%
• 3Y*: 8.35%
• 5Y*: 4.65%
• 10Y*: 5.59%

MDHVX

• 1D: 0.00%
• 1M: 0.38%
• YTD: 1.85%
• 6M: 2.07%
• 1Y: 4.67%
• 3Y*: 6.53%
• 5Y*: 4.25%
• 10Y*: 4.63%

*Multi-year figures are annualized to reflect compound growth (CAGR)

EIBRX vs. MDHVX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
EIBRX Eaton Vance Income Fund of Boston Class R6	1.17%	8.58%	7.48%	12.24%	-7.81%	5.91%	5.20%	13.70%	-2.39%	6.38%
MDHVX MainStay MacKay Short Duration High Yield Fund	1.85%	5.38%	6.51%	9.86%	-2.81%	4.38%	2.92%	9.00%	-0.13%	4.30%

Correlation

The correlation between EIBRX and MDHVX is 0.62, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.62
Correlation (3Y) Calculated over the trailing 3-year period	0.67
Correlation (5Y) Calculated over the trailing 5-year period	0.74
Correlation (10Y) Calculated over the trailing 10-year period	0.71
Correlation (All Time) Calculated using the full available price history since Jan 2, 2015	0.71

The correlation between EIBRX and MDHVX shifts across timeframes, from 0.62 (1 year) to 0.74 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

EIBRX vs. MDHVX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EIBRX

EIBRX Risk / Return Rank: 65
EIBRX Sharpe Ratio Rank: 47
EIBRX Sortino Ratio Rank: 73
EIBRX Omega Ratio Rank: 77
EIBRX Calmar Ratio Rank: 51
EIBRX Martin Ratio Rank: 79

MDHVX

MDHVX Risk / Return Rank: 92
MDHVX Sharpe Ratio Rank: 89
MDHVX Sortino Ratio Rank: 90
MDHVX Omega Ratio Rank: 94
MDHVX Calmar Ratio Rank: 92
MDHVX Martin Ratio Rank: 97

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EIBRX vs. MDHVX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for Eaton Vance Income Fund of Boston Class R6 (EIBRX) 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.

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.

	EIBRX	MDHVX	Difference
Sharpe ratio: Return per unit of total volatility	1.87	2.73	-0.86
Sortino ratio: Return per unit of downside risk	3.25	4.06	-0.81
Omega ratio: Gain probability vs. loss probability	1.46	1.70	-0.25
Calmar ratio: Return relative to maximum drawdown	2.60	4.69	-2.08
Martin ratio: Return relative to average drawdown	13.79	23.17	-9.38

EIBRX vs. MDHVX - Sharpe Ratio Comparison

The current EIBRX Sharpe Ratio is 1.87, which is lower than the MDHVX Sharpe Ratio of 2.73. The chart below compares the historical Sharpe Ratios of EIBRX and MDHVX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

EIBRX vs. MDHVX - Drawdown Comparison

The maximum EIBRX drawdown since its inception was -21.03%, which is greater than MDHVX's maximum drawdown of -18.04%. Use the drawdown chart below to compare losses from any high point for EIBRX and MDHVX.

Drawdown Indicators

	EIBRX	MDHVX	Difference
Max Drawdown Largest peak-to-trough decline	-21.03%	-18.04%	-2.99%
Max Drawdown (1Y) Largest decline over 1 year	-2.47%	-1.06%	-1.41%
Max Drawdown (3Y) Largest decline over 3 years	-3.48%	-2.65%	-0.83%
Max Drawdown (5Y) Largest decline over 5 years	-12.27%	-6.26%	-6.01%
Max Drawdown (10Y) Largest decline over 10 years	-21.03%	-18.04%	-2.99%
Current Drawdown Current decline from peak	-0.19%	0.00%	-0.19%
Average Drawdown Average peak-to-trough decline	-1.79%	-0.77%	-1.02%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.46%	0.21%	+0.25%

Volatility

EIBRX vs. MDHVX - Volatility Comparison

Eaton Vance Income Fund of Boston Class R6 (EIBRX) has a higher volatility of 1.01% compared to MainStay MacKay Short Duration High Yield Fund (MDHVX) at 0.40%. This indicates that EIBRX's price experiences larger fluctuations and is considered to be riskier than MDHVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EIBRX	MDHVX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.01%	0.40%	+0.61%
Volatility (6M) Calculated over the trailing 6-month period	2.78%	1.42%	+1.36%
Volatility (1Y) Calculated over the trailing 1-year period	3.44%	1.82%	+1.62%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.95%	2.59%	+2.36%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.45%	3.42%	+2.03%

EIBRX vs. MDHVX - Expense Ratio Comparison

EIBRX has a 0.62% expense ratio, which is lower than MDHVX's 1.10% expense ratio.

Dividends

EIBRX vs. MDHVX - Dividend Comparison

EIBRX's dividend yield for the trailing twelve months is around 6.43%, more than MDHVX's 5.33% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
EIBRX Eaton Vance Income Fund of Boston Class R6	6.43%	6.25%	6.21%	5.93%	6.04%	5.36%	6.03%	5.97%	6.42%	5.87%	6.18%	6.90%
MDHVX MainStay MacKay Short Duration High Yield Fund	5.33%	5.47%	6.01%	5.53%	4.31%	3.80%	4.44%	4.37%	4.33%	4.03%	4.95%	4.87%

Frequently Asked Questions

Can I hold both EIBRX and MDHVX in my portfolio?

EIBRX and MDHVX have a correlation of 0.62, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EIBRX or MDHVX?

EIBRX has higher volatility (1.01%) compared to MDHVX (0.40%). In terms of maximum drawdown, EIBRX dropped -21.03% vs MDHVX's -18.04%.

Which has better risk-adjusted returns?

MDHVX currently has the higher Sharpe Ratio (2.73 vs 1.87), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.