MDHVX vs. MNHAX
Compare and contrast key facts about MainStay MacKay Short Duration High Yield Fund (MDHVX) and Manning & Napier High Yield Bond I (MNHAX).
MDHVX is managed by MainStay. It was launched on Dec 17, 2012. MNHAX is managed by Manning & Napier. It was launched on Aug 1, 2012.
Performance
MDHVX vs. MNHAX - Performance Comparison
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MDHVX vs. MNHAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MDHVX MainStay MacKay Short Duration High Yield Fund | -0.42% | 5.38% | 6.51% | 9.86% | -2.81% | 4.38% | 2.92% | 9.00% | -0.13% | 4.30% |
MNHAX Manning & Napier High Yield Bond I | -1.05% | 6.90% | 9.29% | 13.49% | -7.38% | 10.27% | 6.58% | 14.25% | -0.98% | 8.68% |
Returns By Period
In the year-to-date period, MDHVX achieves a -0.42% return, which is significantly higher than MNHAX's -1.05% return. Over the past 10 years, MDHVX has underperformed MNHAX with an annualized return of 4.79%, while MNHAX has yielded a comparatively higher 6.80% annualized return.
MDHVX
- 1D
- -0.11%
- 1M
- -0.95%
- YTD
- -0.42%
- 6M
- 0.11%
- 1Y
- 3.81%
- 3Y*
- 6.06%
- 5Y*
- 4.15%
- 10Y*
- 4.79%
MNHAX
- 1D
- 0.63%
- 1M
- -1.75%
- YTD
- -1.05%
- 6M
- 0.13%
- 1Y
- 4.72%
- 3Y*
- 8.65%
- 5Y*
- 5.44%
- 10Y*
- 6.80%
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MDHVX vs. MNHAX - Expense Ratio Comparison
MDHVX has a 1.10% expense ratio, which is higher than MNHAX's 0.66% expense ratio.
Return for Risk
MDHVX vs. MNHAX — Risk / Return Rank
MDHVX
MNHAX
MDHVX vs. MNHAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay MacKay Short Duration High Yield Fund (MDHVX) and Manning & Napier High Yield Bond I (MNHAX). 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.
| MDHVX | MNHAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.58 | 1.31 | +0.27 |
Sortino ratioReturn per unit of downside risk | 2.06 | 1.70 | +0.36 |
Omega ratioGain probability vs. loss probability | 1.41 | 1.30 | +0.11 |
Calmar ratioReturn relative to maximum drawdown | 1.52 | 1.39 | +0.13 |
Martin ratioReturn relative to average drawdown | 7.91 | 5.43 | +2.48 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MDHVX | MNHAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.58 | 1.31 | +0.27 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 1.63 | 0.38 | +1.25 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 1.40 | 0.64 | +0.76 |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.33 | 0.66 | +0.67 |
Correlation
The correlation between MDHVX and MNHAX is 0.71, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
MDHVX vs. MNHAX - Dividend Comparison
MDHVX's dividend yield for the trailing twelve months is around 4.98%, less than MNHAX's 6.60% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MDHVX MainStay MacKay Short Duration High Yield Fund | 4.98% | 5.47% | 6.01% | 5.53% | 4.31% | 3.80% | 4.44% | 4.37% | 4.33% | 4.03% | 4.95% | 4.87% |
MNHAX Manning & Napier High Yield Bond I | 6.60% | 7.29% | 7.02% | 8.59% | 7.61% | 9.81% | 6.26% | 8.24% | 6.38% | 6.20% | 7.68% | 6.64% |
Drawdowns
MDHVX vs. MNHAX - Drawdown Comparison
The maximum MDHVX drawdown since its inception was -18.04%, smaller than the maximum MNHAX drawdown of -20.13%. Use the drawdown chart below to compare losses from any high point for MDHVX and MNHAX.
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Drawdown Indicators
| MDHVX | MNHAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.04% | -20.13% | +2.09% |
Max Drawdown (1Y)Largest decline over 1 year | -2.32% | -3.40% | +1.08% |
Max Drawdown (5Y)Largest decline over 5 years | -6.26% | -20.13% | +13.87% |
Max Drawdown (10Y)Largest decline over 10 years | -18.04% | -20.13% | +2.09% |
Current DrawdownCurrent decline from peak | -1.06% | -13.52% | +12.46% |
Average DrawdownAverage peak-to-trough decline | -0.79% | -3.41% | +2.62% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.45% | 0.87% | -0.42% |
Volatility
MDHVX vs. MNHAX - Volatility Comparison
The current volatility for MainStay MacKay Short Duration High Yield Fund (MDHVX) is 0.75%, while Manning & Napier High Yield Bond I (MNHAX) has a volatility of 1.84%. This indicates that MDHVX experiences smaller price fluctuations and is considered to be less risky than MNHAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MDHVX | MNHAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.75% | 1.84% | -1.09% |
Volatility (6M)Calculated over the trailing 6-month period | 1.35% | 2.29% | -0.94% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.44% | 3.79% | -1.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.57% | 14.41% | -11.84% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.43% | 10.69% | -7.26% |