KLGAX vs. MSXAX

Last updated Jun 23, 2026

KLGAX (MainStay WMC Growth Fund) and MSXAX (NYLI S&P 500 Index Class A) are both mutual funds - KLGAX is a Large Cap Growth Equities fund managed by New York Life, while MSXAX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, KLGAX returned 13.69%/yr vs 15.01%/yr for MSXAX. Their correlation of 0.93 suggests significant overlap in exposure. KLGAX charges 1.02%/yr vs 0.52%/yr for MSXAX.

Performance

KLGAX vs. MSXAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MainStay WMC Growth Fund (KLGAX) and NYLI S&P 500 Index Class A (MSXAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, KLGAX achieves a 2.62% return, which is significantly lower than MSXAX's 9.95% return. Over the past 10 years, KLGAX has underperformed MSXAX with an annualized return of 13.69%, while MSXAX has yielded a comparatively higher 15.01% annualized return.

KLGAX

• 1D: 1.66%
• 1M: 0.02%
• YTD: 2.62%
• 6M: 2.01%
• 1Y: 17.09%
• 3Y*: 18.39%
• 5Y*: 8.33%
• 10Y*: 13.69%

MSXAX

• 1D: 1.09%
• 1M: 0.44%
• YTD: 9.95%
• 6M: 9.42%
• 1Y: 26.56%
• 3Y*: 20.36%
• 5Y*: 13.53%
• 10Y*: 15.01%

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

KLGAX vs. MSXAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
KLGAX MainStay WMC Growth Fund	2.62%	16.60%	25.22%	38.63%	-33.53%	17.85%	31.88%	29.41%	-4.33%	30.05%
MSXAX NYLI S&P 500 Index Class A	9.95%	17.26%	23.98%	25.96%	-18.52%	28.13%	17.86%	30.69%	-4.71%	21.07%

Correlation

The correlation between KLGAX and MSXAX is 0.92, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.92
Correlation (3Y) Calculated over the trailing 3-year period	0.93
Correlation (5Y) Calculated over the trailing 5-year period	0.94
Correlation (10Y) Calculated over the trailing 10-year period	0.93
Correlation (All Time) Calculated using the full available price history since Aug 7, 2006	0.93

The correlation between KLGAX and MSXAX has been stable across timeframes, ranging from 0.92 to 0.94 - a consistent structural relationship.

Return for Risk

KLGAX vs. MSXAX — Risk / Return Rank

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

KLGAX

KLGAX Risk / Return Rank: 13
KLGAX Sharpe Ratio Rank: 14
KLGAX Sortino Ratio Rank: 14
KLGAX Omega Ratio Rank: 14
KLGAX Calmar Ratio Rank: 11
KLGAX Martin Ratio Rank: 13

MSXAX

MSXAX Risk / Return Rank: 63
MSXAX Sharpe Ratio Rank: 61
MSXAX Sortino Ratio Rank: 56
MSXAX Omega Ratio Rank: 58
MSXAX Calmar Ratio Rank: 65
MSXAX Martin Ratio Rank: 75

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. MSXAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MainStay WMC Growth Fund (KLGAX) and NYLI S&P 500 Index Class A (MSXAX). 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.

	KLGAX	MSXAX	Difference
Sharpe ratio: Return per unit of total volatility	0.98	2.12	-1.14
Sortino ratio: Return per unit of downside risk	1.42	2.87	-1.46
Omega ratio: Gain probability vs. loss probability	1.18	1.38	-0.20
Calmar ratio: Return relative to maximum drawdown	1.03	2.96	-1.93
Martin ratio: Return relative to average drawdown	3.45	13.30	-9.85

KLGAX vs. MSXAX - Sharpe Ratio Comparison

The current KLGAX Sharpe Ratio is 0.98, which is lower than the MSXAX Sharpe Ratio of 2.12. The chart below compares the historical Sharpe Ratios of KLGAX and MSXAX, 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

KLGAX vs. MSXAX - Drawdown Comparison

The maximum KLGAX drawdown since its inception was -55.04%, roughly equal to the maximum MSXAX drawdown of -55.48%. Use the drawdown chart below to compare losses from any high point for KLGAX and MSXAX.

Drawdown Indicators

	KLGAX	MSXAX	Difference
Max Drawdown Largest peak-to-trough decline	-55.04%	-55.48%	+0.44%
Max Drawdown (1Y) Largest decline over 1 year	-16.03%	-8.97%	-7.06%
Max Drawdown (3Y) Largest decline over 3 years	-22.71%	-18.78%	-3.93%
Max Drawdown (5Y) Largest decline over 5 years	-39.29%	-24.78%	-14.51%
Max Drawdown (10Y) Largest decline over 10 years	-39.29%	-33.79%	-5.50%
Current Drawdown Current decline from peak	-3.53%	-1.36%	-2.17%
Average Drawdown Average peak-to-trough decline	-9.48%	-7.15%	-2.33%
Ulcer Index Depth and duration of drawdowns from previous peaks	4.76%	1.99%	+2.77%

Volatility

KLGAX vs. MSXAX - Volatility Comparison

MainStay WMC Growth Fund (KLGAX) has a higher volatility of 6.39% compared to NYLI S&P 500 Index Class A (MSXAX) at 4.75%. This indicates that KLGAX's price experiences larger fluctuations and is considered to be riskier than MSXAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	KLGAX	MSXAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	6.39%	4.75%	+1.64%
Volatility (6M) Calculated over the trailing 6-month period	13.20%	9.91%	+3.29%
Volatility (1Y) Calculated over the trailing 1-year period	16.75%	12.48%	+4.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	22.64%	17.00%	+5.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	22.00%	18.11%	+3.89%

KLGAX vs. MSXAX - Expense Ratio Comparison

KLGAX has a 1.02% expense ratio, which is higher than MSXAX's 0.52% expense ratio.

Dividends

KLGAX vs. MSXAX - Dividend Comparison

KLGAX's dividend yield for the trailing twelve months is around 3.29%, more than MSXAX's 0.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KLGAX MainStay WMC Growth Fund	3.29%	3.38%	3.96%	0.00%	0.00%	26.57%	3.69%	3.43%	11.10%	3.85%	8.73%	7.55%
MSXAX NYLI S&P 500 Index Class A	0.96%	1.06%	5.20%	4.04%	10.30%	4.44%	8.78%	17.42%	14.49%	15.18%	9.63%	5.53%

Frequently Asked Questions

Can I hold both KLGAX and MSXAX in my portfolio?

With a correlation of 0.92, KLGAX and MSXAX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.

Which is riskier, KLGAX or MSXAX?

KLGAX has higher volatility (6.39%) compared to MSXAX (4.75%). In terms of maximum drawdown, KLGAX dropped -55.04% vs MSXAX's -55.48%.

Which has better risk-adjusted returns?

MSXAX currently has the higher Sharpe Ratio (2.12 vs 0.98), 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.