KLGAX vs. MBAIX

Last updated Jun 5, 2026

KLGAX (MainStay WMC Growth Fund) and MBAIX (MainStay Balanced Fund) are both mutual funds - KLGAX is a Large Cap Growth Equities fund managed by New York Life, while MBAIX is a Diversified Portfolio fund managed by New York Life. Over the past 10 years, KLGAX returned 13.65%/yr vs 7.42%/yr for MBAIX. A 0.80 correlation means they provide meaningful diversification when combined. KLGAX charges 1.02%/yr vs 0.81%/yr for MBAIX.

Performance

KLGAX vs. MBAIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MainStay WMC Growth Fund (KLGAX) and MainStay Balanced Fund (MBAIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with KLGAX having a 4.46% return and MBAIX slightly higher at 4.68%. Over the past 10 years, KLGAX has outperformed MBAIX with an annualized return of 13.65%, while MBAIX has yielded a comparatively lower 7.42% annualized return.

KLGAX

• 1D: -1.24%
• 1M: 4.24%
• YTD: 4.46%
• 6M: 3.72%
• 1Y: 18.28%
• 3Y*: 19.94%
• 5Y*: 9.36%
• 10Y*: 13.65%

MBAIX

• 1D: -0.27%
• 1M: 0.58%
• YTD: 4.68%
• 6M: 5.25%
• 1Y: 13.79%
• 3Y*: 10.43%
• 5Y*: 5.77%
• 10Y*: 7.42%

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

KLGAX vs. MBAIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KLGAX MainStay WMC Growth Fund	4.46%	16.60%	25.22%	38.63%	-33.53%	17.85%	31.88%	29.41%	-4.33%	30.05%
MBAIX MainStay Balanced Fund	4.68%	11.38%	7.59%	7.56%	-5.80%	17.13%	7.73%	19.28%	-7.53%	9.87%

Correlation

The correlation between KLGAX and MBAIX is 0.48, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.48
Correlation (3Y) Calculated over the trailing 3-year period	0.52
Correlation (5Y) Calculated over the trailing 5-year period	0.64
Correlation (10Y) Calculated over the trailing 10-year period	0.68
Correlation (All Time) Calculated using the full available price history since Aug 8, 2006	0.80

Over the past year, the correlation between KLGAX and MBAIX has dropped to 0.48 - well below their long-term average of 0.80, suggesting their price drivers have been diverging.

Return for Risk

KLGAX vs. MBAIX — Risk / Return Rank

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

KLGAX

KLGAX Risk / Return Rank: 16
KLGAX Sharpe Ratio Rank: 18
KLGAX Sortino Ratio Rank: 17
KLGAX Omega Ratio Rank: 18
KLGAX Calmar Ratio Rank: 14
KLGAX Martin Ratio Rank: 15

MBAIX

MBAIX Risk / Return Rank: 54
MBAIX Sharpe Ratio Rank: 49
MBAIX Sortino Ratio Rank: 50
MBAIX Omega Ratio Rank: 48
MBAIX Calmar Ratio Rank: 61
MBAIX Martin Ratio Rank: 61

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.

KLGAX vs. MBAIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MainStay WMC Growth Fund (KLGAX) and MainStay Balanced Fund (MBAIX). 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.

	KLGAX	MBAIX	Difference
Sharpe ratio: Return per unit of total volatility	1.20	2.01	-0.81
Sortino ratio: Return per unit of downside risk	1.71	2.93	-1.23
Omega ratio: Gain probability vs. loss probability	1.22	1.37	-0.15
Calmar ratio: Return relative to maximum drawdown	1.20	2.94	-1.75
Martin ratio: Return relative to average drawdown	4.10	11.87	-7.77
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

KLGAX vs. MBAIX - Sharpe Ratio Comparison

The current KLGAX Sharpe Ratio is 1.20, which is lower than the MBAIX Sharpe Ratio of 2.01. The chart below compares the historical Sharpe Ratios of KLGAX and MBAIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	KLGAX	MBAIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.20	2.01	-0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.42	0.62	-0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.62	0.70	-0.08
Sharpe Ratio (All Time) Calculated using the full available price history	0.45	0.80	-0.34

Drawdowns

KLGAX vs. MBAIX - Drawdown Comparison

The maximum KLGAX drawdown since its inception was -55.04%, which is greater than MBAIX's maximum drawdown of -39.74%. Use the drawdown chart below to compare losses from any high point for KLGAX and MBAIX.

Drawdown Indicators

	KLGAX	MBAIX	Difference
Max Drawdown Largest peak-to-trough decline	-55.04%	-39.74%	-15.30%
Max Drawdown (1Y) Largest decline over 1 year	-16.03%	-4.69%	-11.34%
Max Drawdown (3Y) Largest decline over 3 years	-22.71%	-8.37%	-14.34%
Max Drawdown (5Y) Largest decline over 5 years	-39.29%	-13.19%	-26.10%
Max Drawdown (10Y) Largest decline over 10 years	-39.29%	-25.87%	-13.42%
Current Drawdown Current decline from peak	-1.80%	-0.27%	-1.53%
Average Drawdown Average peak-to-trough decline	-9.49%	-3.56%	-5.93%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.66%	1.16%	+3.50%

Volatility

KLGAX vs. MBAIX - Volatility Comparison

MainStay WMC Growth Fund (KLGAX) has a higher volatility of 3.79% compared to MainStay Balanced Fund (MBAIX) at 1.57%. This indicates that KLGAX's price experiences larger fluctuations and is considered to be riskier than MBAIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KLGAX	MBAIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.79%	1.57%	+2.22%
Volatility (6M) Calculated over the trailing 6-month period	12.12%	5.17%	+6.95%
Volatility (1Y) Calculated over the trailing 1-year period	15.99%	6.88%	+9.11%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.53%	9.40%	+13.13%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	21.94%	10.61%	+11.33%

KLGAX vs. MBAIX - Expense Ratio Comparison

KLGAX has a 1.02% expense ratio, which is higher than MBAIX's 0.81% expense ratio.

Dividends

KLGAX vs. MBAIX - Dividend Comparison

KLGAX's dividend yield for the trailing twelve months is around 3.23%, less than MBAIX's 6.65% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KLGAX MainStay WMC Growth Fund	3.23%	3.38%	3.96%	0.00%	0.00%	26.57%	3.69%	3.43%	11.10%	3.85%	8.73%	7.55%
MBAIX MainStay Balanced Fund	6.65%	6.95%	6.14%	2.27%	1.86%	23.51%	2.24%	6.04%	9.37%	7.05%	2.94%	6.93%

Frequently Asked Questions

Can I hold both KLGAX and MBAIX in my portfolio?

KLGAX and MBAIX have a correlation of 0.48, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, KLGAX or MBAIX?

KLGAX has higher volatility (3.79%) compared to MBAIX (1.57%). In terms of maximum drawdown, KLGAX dropped -55.04% vs MBAIX's -39.74%.

Which has better risk-adjusted returns?

MBAIX currently has the higher Sharpe Ratio (2.01 vs 1.20), 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.