LISDX vs. MSTIX
LISDX (Lord Abbett Short Duration Tax Free Fund) and MSTIX (MainStay MacKay Short Term Municipal Fund) are both Municipal Bonds funds. Over the past 10 years, LISDX returned 1.58%/yr vs 1.66%/yr for MSTIX. At a 0.49 correlation, their price movements are largely independent. LISDX charges 0.45%/yr vs 0.40%/yr for MSTIX.
Performance
LISDX vs. MSTIX - Performance Comparison
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Returns By Period
In the year-to-date period, LISDX achieves a 0.90% return, which is significantly lower than MSTIX's 1.10% return. Over the past 10 years, LISDX has underperformed MSTIX with an annualized return of 1.58%, while MSTIX has yielded a comparatively higher 1.66% annualized return.
LISDX
- 1D
- 0.00%
- 1M
- 0.71%
- YTD
- 0.90%
- 6M
- 1.22%
- 1Y
- 3.58%
- 3Y*
- 3.55%
- 5Y*
- 1.38%
- 10Y*
- 1.58%
MSTIX
- 1D
- 0.00%
- 1M
- 0.70%
- YTD
- 1.10%
- 6M
- 1.38%
- 1Y
- 4.00%
- 3Y*
- 3.58%
- 5Y*
- 1.66%
- 10Y*
- 1.66%
LISDX vs. MSTIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
LISDX Lord Abbett Short Duration Tax Free Fund | 0.90% | 4.44% | 3.11% | 3.14% | -4.38% | 0.55% | 2.18% | 4.43% | 1.30% | 1.91% |
MSTIX MainStay MacKay Short Term Municipal Fund | 1.10% | 4.69% | 2.41% | 3.70% | -3.33% | 0.43% | 2.55% | 2.53% | 1.81% | 1.29% |
Correlation
The correlation between LISDX and MSTIX is 0.67, 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 | 0.67 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.74 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.76 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Dec 12, 2008 | 0.49 |
The correlation between LISDX and MSTIX shifts across timeframes, from 0.49 (all time) to 0.76 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
LISDX vs. MSTIX — Risk / Return Rank
LISDX
MSTIX
LISDX vs. MSTIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Lord Abbett Short Duration Tax Free Fund (LISDX) and MainStay MacKay Short Term Municipal Fund (MSTIX). 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.
| LISDX | MSTIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.06 | ||
| Sortino ratioReturn per unit of downside risk | -0.47 | ||
| Omega ratioGain probability vs. loss probability | 1.84 | 2.00 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.50 | 2.92 | -0.42 |
| Martin ratioReturn relative to average drawdown | 8.05 | 9.83 | -1.77 |
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Drawdowns
LISDX vs. MSTIX - Drawdown Comparison
The maximum LISDX drawdown since its inception was -6.72%, smaller than the maximum MSTIX drawdown of -8.99%. Use the drawdown chart below to compare losses from any high point for LISDX and MSTIX.
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Drawdown Indicators
| LISDX | MSTIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.72% | -8.99% | +2.27% |
Max Drawdown (1Y)Largest decline over 1 year | -1.44% | -1.38% | -0.06% |
Max Drawdown (3Y)Largest decline over 3 years | -1.72% | -1.83% | +0.11% |
Max Drawdown (5Y)Largest decline over 5 years | -6.72% | -5.62% | -1.10% |
Max Drawdown (10Y)Largest decline over 10 years | -6.72% | -5.62% | -1.10% |
Current DrawdownCurrent decline from peak | -0.37% | -0.26% | -0.11% |
Average DrawdownAverage peak-to-trough decline | -0.81% | -0.54% | -0.27% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 0.41% | +0.04% |
Volatility
LISDX vs. MSTIX - Volatility Comparison
The current volatility for Lord Abbett Short Duration Tax Free Fund (LISDX) is 0.39%, while MainStay MacKay Short Term Municipal Fund (MSTIX) has a volatility of 0.49%. This indicates that LISDX experiences smaller price fluctuations and is considered to be less risky than MSTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| LISDX | MSTIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.39% | 0.49% | -0.10% |
Volatility (6M)Calculated over the trailing 6-month period | 1.07% | 1.17% | -0.10% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.38% | 1.51% | -0.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.64% | 1.83% | -0.19% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.76% | 1.58% | +0.18% |
LISDX vs. MSTIX - Expense Ratio Comparison
LISDX has a 0.45% expense ratio, which is higher than MSTIX's 0.40% expense ratio.
Dividends
LISDX vs. MSTIX - Dividend Comparison
LISDX's dividend yield for the trailing twelve months is around 2.99%, less than MSTIX's 3.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LISDX Lord Abbett Short Duration Tax Free Fund | 2.99% | 3.53% | 3.06% | 2.34% | 1.12% | 1.05% | 1.58% | 2.15% | 1.74% | 1.31% | 1.29% | 1.22% |
MSTIX MainStay MacKay Short Term Municipal Fund | 3.28% | 3.38% | 3.14% | 2.85% | 1.38% | 0.85% | 1.37% | 1.76% | 1.48% | 1.28% | 0.87% | 0.82% |
Frequently Asked Questions
LISDX and MSTIX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSTIX has higher volatility (0.49%) compared to LISDX (0.39%). In terms of maximum drawdown, LISDX dropped -6.72% vs MSTIX's -8.99%.
MSTIX currently has the higher Sharpe Ratio (2.68 vs 2.61), 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.
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