MBAIX vs. MMRIX

Last updated Aug 1, 2026

MBAIX (MainStay Balanced Fund) and MMRIX (MainStay Moderate Allocation Fund) are both Diversified Portfolio funds from New York Life. Over the past 10 years, MBAIX returned 7.49%/yr vs 6.88%/yr for MMRIX. Their correlation of 0.91 means they have usually moved in the same direction. MBAIX charges 0.81%/yr vs 0.09%/yr for MMRIX.

Performance

MBAIX vs. MMRIX - Performance Comparison

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

Returns By Period

In the year-to-date period, MBAIX achieves a 7.70% return, which is significantly higher than MMRIX's 6.90% return. Over the past 10 years, MBAIX has outperformed MMRIX with an annualized return of 7.49%, while MMRIX has yielded a comparatively lower 6.88% annualized return.

MBAIX

• 1D: 0.33%
• 1M: 1.18%
• 6M: 5.72%
• YTD: 7.70%
• 1Y: 15.18%
• 3Y*: 9.87%
• 5Y*: 6.38%
• 10Y*: 7.49%
• ALL TIME*: 8.37%

MMRIX

• 1D: 1.12%
• 1M: -0.84%
• 6M: 4.86%
• YTD: 6.90%
• 1Y: 13.95%
• 3Y*: 10.53%
• 5Y*: 5.46%
• 10Y*: 6.88%
• ALL TIME*: 6.50%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
MBAIX MainStay Balanced Fund	$0.00	$0.00	$0.00
MMRIX MainStay Moderate Allocation Fund	$0.00	$0.00	$0.00

MBAIX vs. MMRIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MBAIX MainStay Balanced Fund	7.70%	11.38%	7.59%	7.56%	-5.80%	17.13%	7.73%	19.28%	-7.53%	9.87%
MMRIX MainStay Moderate Allocation Fund	6.90%	11.38%	8.84%	13.65%	-13.76%	12.21%	13.01%	18.20%	-8.86%	12.11%

Correlation

The correlation between MBAIX and MMRIX is 0.69, which is moderate. They have sometimes moved together and sometimes differently, sharing some price drivers without tracking each other closely.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.69
Correlation (3Y) Balances recent behavior with more history.	0.80
Correlation (5Y) Shows whether the relationship held over a longer period.	0.86
Correlation (10Y) Provides a long-term view across more market conditions.	0.87
Correlation (All Time) Calculated using the full available price history since Apr 4, 2005	0.91

Over the past year, the correlation between MBAIX and MMRIX has dropped to 0.69 - well below their long-term average of 0.91, suggesting their price drivers have been diverging.

Return for Risk

MBAIX vs. MMRIX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MBAIX

MBAIX Risk / Return Rank: 84
MBAIX Sharpe Ratio Rank: 82
MBAIX Sortino Ratio Rank: 83
MBAIX Omega Ratio Rank: 80
MBAIX Calmar Ratio Rank: 86
MBAIX Martin Ratio Rank: 89

MMRIX

MMRIX Risk / Return Rank: 62
MMRIX Sharpe Ratio Rank: 61
MMRIX Sortino Ratio Rank: 60
MMRIX Omega Ratio Rank: 60
MMRIX Calmar Ratio Rank: 58
MMRIX Martin Ratio Rank: 70

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MBAIX vs. MMRIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MainStay Balanced Fund (MBAIX) and MainStay Moderate Allocation Fund (MMRIX). 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.

	MBAIX	MMRIX	Difference
Sharpe ratio: Return per unit of total volatility	2.01	1.51	+0.50
Sortino ratio: Return per unit of downside risk	2.95	2.16	+0.79
Omega ratio: Gain probability vs. loss probability	1.37	1.28	+0.09
Calmar ratio: Return relative to maximum drawdown	3.01	2.04	+0.98
Martin ratio: Return relative to average drawdown	12.22	8.68	+3.54

MBAIX vs. MMRIX - Sharpe Ratio Comparison

The current MBAIX Sharpe Ratio is 2.01, which is higher than the MMRIX Sharpe Ratio of 1.51. The chart below compares the historical Sharpe Ratios of MBAIX and MMRIX, 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

MBAIX vs. MMRIX - Drawdown Comparison

The maximum MBAIX drawdown since its inception was -39.74%, which is greater than MMRIX's maximum drawdown of -35.91%. Use the drawdown chart below to compare losses from any high point for MBAIX and MMRIX.

Drawdown Indicators

	MBAIX	MMRIX	Difference
Max Drawdown Largest peak-to-trough decline	-39.74%	-35.91%	-3.83%
Max Drawdown (1Y) Largest decline over 1 year	-4.69%	-6.40%	+1.71%
Max Drawdown (3Y) Largest decline over 3 years	-8.37%	-12.10%	+3.73%
Max Drawdown (5Y) Largest decline over 5 years	-13.19%	-20.40%	+7.21%
Max Drawdown (10Y) Largest decline over 10 years	-25.87%	-24.34%	-1.53%
Current Drawdown Current decline from peak	-0.36%	-1.48%	+1.12%
Average Drawdown Average peak-to-trough decline	-3.55%	-4.46%	+0.91%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.16%	1.50%	-0.34%

Volatility

MBAIX vs. MMRIX - Volatility Comparison

The current volatility for MainStay Balanced Fund (MBAIX) is 1.92%, while MainStay Moderate Allocation Fund (MMRIX) has a volatility of 2.47%. This indicates that MBAIX experiences smaller price fluctuations and is considered to be less risky than MMRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MBAIX	MMRIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.92%	2.47%	-0.55%
Volatility (6M) Calculated over the trailing 6-month period	5.14%	7.18%	-2.04%
Volatility (1Y) Calculated over the trailing 1-year period	7.04%	8.63%	-1.59%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	9.39%	10.48%	-1.09%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	10.57%	12.17%	-1.60%

MBAIX vs. MMRIX - Expense Ratio Comparison

MBAIX has a 0.81% expense ratio, which is higher than MMRIX's 0.09% expense ratio.

Dividends

MBAIX vs. MMRIX - Dividend Comparison

MBAIX's dividend yield for the trailing twelve months is around 6.55%, more than MMRIX's 5.15% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MBAIX MainStay Balanced Fund	6.55%	6.95%	6.14%	2.27%	1.86%	23.51%	2.24%	6.04%	9.37%	7.05%	2.94%	6.93%
MMRIX MainStay Moderate Allocation Fund	5.15%	5.51%	6.88%	0.60%	5.92%	9.74%	5.89%	4.16%	7.98%	3.23%	1.73%	5.26%

Frequently Asked Questions

Can I hold both MBAIX and MMRIX in my portfolio?

MBAIX and MMRIX have a correlation of 0.69, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MBAIX or MMRIX?

MMRIX has higher volatility (2.47%) compared to MBAIX (1.92%). In terms of maximum drawdown, MBAIX dropped -39.74% vs MMRIX's -35.91%.

Which has better risk-adjusted returns?

MBAIX currently has the higher Sharpe Ratio (2.01 vs 1.51), 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.