MCYVX vs. MNOVX
MCYVX (MainStay Candriam Emerging Markets Equity Fund) and MNOVX (MainStay MacKay New York Tax Free Opportunities Fund) are both mutual funds - MCYVX is a Emerging Markets Equities fund managed by MainStay, while MNOVX is a Municipal Bonds fund managed by MainStay. Over the past 5 years, MCYVX returned 5.02%/yr vs 0.13%/yr for MNOVX. Their 0.04 correlation means their historical movements had little consistent relationship. MCYVX charges 1.57%/yr vs 0.76%/yr for MNOVX.
Performance
MCYVX vs. MNOVX - Performance Comparison
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Returns By Period
In the year-to-date period, MCYVX achieves a 18.01% return, which is significantly higher than MNOVX's 1.13% return.
MCYVX
- 1D
- 1.90%
- 1M
- -6.73%
- 6M
- 6.08%
- YTD
- 18.01%
- 1Y
- 41.03%
- 3Y*
- 20.00%
- 5Y*
- 5.02%
- 10Y*
- —
- ALL TIME*
- 5.76%
MNOVX
- 1D
- -0.32%
- 1M
- -2.27%
- 6M
- 0.49%
- YTD
- 1.13%
- 1Y
- 6.88%
- 3Y*
- 3.63%
- 5Y*
- 0.13%
- 10Y*
- 1.97%
- ALL TIME*
- 2.85%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MCYVX vs. MNOVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
MCYVX MainStay Candriam Emerging Markets Equity Fund | 18.01% | 34.98% | 11.91% | 6.92% | -28.37% | -4.28% | 35.91% | 21.56% | -26.04% |
MNOVX MainStay MacKay New York Tax Free Opportunities Fund | 1.13% | 4.39% | 2.21% | 6.55% | -12.42% | 3.68% | 5.10% | 7.59% | 3.13% |
Correlation
The correlation between MCYVX and MNOVX is 0.12, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.12 |
Correlation (3Y) Balances recent behavior with more history. | 0.10 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.11 |
Correlation (All Time) Calculated using the full available price history since Mar 21, 2018 | 0.04 |
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Return for Risk
MCYVX vs. MNOVX — Risk / Return Rank
MCYVX
MNOVX
MCYVX vs. MNOVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay Candriam Emerging Markets Equity Fund (MCYVX) and MainStay MacKay New York Tax Free Opportunities Fund (MNOVX). 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.
| MCYVX | MNOVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.67 | ||
| Sortino ratioReturn per unit of downside risk | -1.52 | ||
| Omega ratioGain probability vs. loss probability | 1.29 | 1.57 | -0.28 |
| Calmar ratioReturn relative to maximum drawdown | 2.52 | 2.68 | -0.16 |
| Martin ratioReturn relative to average drawdown | 8.29 | 9.32 | -1.02 |
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Drawdowns
MCYVX vs. MNOVX - Drawdown Comparison
The maximum MCYVX drawdown since its inception was -44.62%, which is greater than MNOVX's maximum drawdown of -18.57%. Use the drawdown chart below to compare losses from any high point for MCYVX and MNOVX.
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Drawdown Indicators
| MCYVX | MNOVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -44.62% | -18.57% | -26.05% |
Max Drawdown (1Y)Largest decline over 1 year | -15.24% | -2.99% | -12.25% |
Max Drawdown (3Y)Largest decline over 3 years | -17.79% | -6.07% | -11.72% |
Max Drawdown (5Y)Largest decline over 5 years | -39.19% | -18.57% | -20.62% |
Max Drawdown (10Y)Largest decline over 10 years | — | -18.57% | — |
Current DrawdownCurrent decline from peak | -13.63% | -2.27% | -11.36% |
Average DrawdownAverage peak-to-trough decline | -20.59% | -3.37% | -17.22% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 4.62% | 0.86% | +3.76% |
Volatility
MCYVX vs. MNOVX - Volatility Comparison
MainStay Candriam Emerging Markets Equity Fund (MCYVX) has a higher volatility of 8.95% compared to MainStay MacKay New York Tax Free Opportunities Fund (MNOVX) at 1.11%. This indicates that MCYVX's price experiences larger fluctuations and is considered to be riskier than MNOVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MCYVX | MNOVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 8.95% | 1.11% | +7.84% |
Volatility (6M)Calculated over the trailing 6-month period | 20.65% | 2.66% | +17.99% |
Volatility (1Y)Calculated over the trailing 1-year period | 23.14% | 3.44% | +19.70% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 17.77% | 4.96% | +12.81% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 19.17% | 4.80% | +14.37% |
MCYVX vs. MNOVX - Expense Ratio Comparison
MCYVX has a 1.57% expense ratio, which is higher than MNOVX's 0.76% expense ratio.
Dividends
MCYVX vs. MNOVX - Dividend Comparison
MCYVX's dividend yield for the trailing twelve months is around 4.46%, more than MNOVX's 3.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MCYVX MainStay Candriam Emerging Markets Equity Fund | 4.46% | 5.27% | 0.14% | 0.62% | 0.63% | 0.45% | 0.19% | 1.74% | 0.37% | 0.00% | 0.00% | 0.00% |
MNOVX MainStay MacKay New York Tax Free Opportunities Fund | 3.45% | 4.85% | 3.65% | 2.92% | 2.92% | 2.24% | 2.68% | 3.17% | 3.35% | 3.42% | 3.47% | 3.53% |
Frequently Asked Questions
MCYVX and MNOVX have a correlation of 0.12, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MCYVX has higher volatility (8.95%) compared to MNOVX (1.11%). In terms of maximum drawdown, MCYVX dropped -44.62% vs MNOVX's -18.57%.
MNOVX currently has the higher Sharpe Ratio (2.33 vs 1.66), 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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