MBAIX vs. MSTIX
MBAIX (MainStay Balanced Fund) and MSTIX (MainStay MacKay Short Term Municipal Fund) are both mutual funds - MBAIX is a Diversified Portfolio fund managed by New York Life, while MSTIX is a Municipal Bonds fund managed by New York Life. Over the past 10 years, MBAIX returned 7.43%/yr vs 1.66%/yr for MSTIX. At a 0.02 correlation, their price movements are largely independent. MBAIX charges 0.81%/yr vs 0.40%/yr for MSTIX.
Performance
MBAIX vs. MSTIX - Performance Comparison
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Returns By Period
In the year-to-date period, MBAIX achieves a 4.75% return, which is significantly higher than MSTIX's 1.10% return. Over the past 10 years, MBAIX has outperformed MSTIX with an annualized return of 7.43%, while MSTIX has yielded a comparatively lower 1.66% annualized return.
MBAIX
- 1D
- -0.15%
- 1M
- -0.03%
- YTD
- 4.75%
- 6M
- 4.38%
- 1Y
- 13.23%
- 3Y*
- 9.96%
- 5Y*
- 6.32%
- 10Y*
- 7.43%
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%
MBAIX vs. MSTIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MBAIX MainStay Balanced Fund | 4.75% | 11.38% | 7.59% | 7.56% | -5.80% | 17.13% | 7.73% | 19.28% | -7.53% | 9.87% |
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 MBAIX and MSTIX is 0.17, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.17 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.12 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.06 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 1990 | 0.02 |
The correlation between MBAIX and MSTIX shifts across timeframes, from 0.02 (all time) to 0.17 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MBAIX vs. MSTIX — Risk / Return Rank
MBAIX
MSTIX
MBAIX vs. MSTIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay Balanced Fund (MBAIX) 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.
| MBAIX | MSTIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.77 | ||
| Sortino ratioReturn per unit of downside risk | -2.29 | ||
| Omega ratioGain probability vs. loss probability | 1.35 | 2.00 | -0.65 |
| Calmar ratioReturn relative to maximum drawdown | 2.87 | 2.92 | -0.05 |
| Martin ratioReturn relative to average drawdown | 11.54 | 9.83 | +1.72 |
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Drawdowns
MBAIX vs. MSTIX - Drawdown Comparison
The maximum MBAIX drawdown since its inception was -39.74%, which is greater than MSTIX's maximum drawdown of -8.99%. Use the drawdown chart below to compare losses from any high point for MBAIX and MSTIX.
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Drawdown Indicators
| MBAIX | MSTIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -39.74% | -8.99% | -30.75% |
Max Drawdown (1Y)Largest decline over 1 year | -4.69% | -1.38% | -3.31% |
Max Drawdown (3Y)Largest decline over 3 years | -8.37% | -1.83% | -6.54% |
Max Drawdown (5Y)Largest decline over 5 years | -13.19% | -5.62% | -7.57% |
Max Drawdown (10Y)Largest decline over 10 years | -25.87% | -5.62% | -20.25% |
Current DrawdownCurrent decline from peak | -1.14% | -0.26% | -0.88% |
Average DrawdownAverage peak-to-trough decline | -3.56% | -0.54% | -3.02% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.16% | 0.41% | +0.75% |
Volatility
MBAIX vs. MSTIX - Volatility Comparison
MainStay Balanced Fund (MBAIX) has a higher volatility of 2.12% compared to MainStay MacKay Short Term Municipal Fund (MSTIX) at 0.49%. This indicates that MBAIX's price experiences larger fluctuations and is considered to be riskier 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
| MBAIX | MSTIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 2.12% | 0.49% | +1.63% |
Volatility (6M)Calculated over the trailing 6-month period | 5.25% | 1.17% | +4.08% |
Volatility (1Y)Calculated over the trailing 1-year period | 7.05% | 1.51% | +5.54% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 9.41% | 1.83% | +7.58% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.61% | 1.58% | +9.03% |
MBAIX vs. MSTIX - Expense Ratio Comparison
MBAIX has a 0.81% expense ratio, which is higher than MSTIX's 0.40% expense ratio.
Dividends
MBAIX vs. MSTIX - Dividend Comparison
MBAIX's dividend yield for the trailing twelve months is around 6.65%, more than MSTIX's 3.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
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
MBAIX and MSTIX have a correlation of 0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MBAIX has higher volatility (2.12%) compared to MSTIX (0.49%). In terms of maximum drawdown, MBAIX dropped -39.74% vs MSTIX's -8.99%.
MSTIX currently has the higher Sharpe Ratio (2.68 vs 1.91), 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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