MGDIX vs. MMRIX
MGDIX (MainStay Growth Allocation Fund) and MMRIX (MainStay Moderate Allocation Fund) are both Diversified Portfolio funds from New York Life. Over the past 10 years, MGDIX returned 8.76%/yr vs 7.29%/yr for MMRIX. With a 0.99 correlation, they move nearly in lockstep. MGDIX charges 0.10%/yr vs 0.09%/yr for MMRIX.
Performance
MGDIX vs. MMRIX - Performance Comparison
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Returns By Period
In the year-to-date period, MGDIX achieves a 10.48% return, which is significantly higher than MMRIX's 8.16% return. Over the past 10 years, MGDIX has outperformed MMRIX with an annualized return of 8.76%, while MMRIX has yielded a comparatively lower 7.29% annualized return.
MGDIX
- 1D
- 0.95%
- 1M
- 1.85%
- YTD
- 10.48%
- 6M
- 9.99%
- 1Y
- 22.27%
- 3Y*
- 13.33%
- 5Y*
- 7.55%
- 10Y*
- 8.76%
MMRIX
- 1D
- 0.78%
- 1M
- 1.57%
- YTD
- 8.16%
- 6M
- 7.84%
- 1Y
- 17.87%
- 3Y*
- 11.81%
- 5Y*
- 6.21%
- 10Y*
- 7.29%
MGDIX vs. MMRIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MGDIX MainStay Growth Allocation Fund | 10.48% | 12.70% | 9.98% | 14.52% | -14.25% | 16.64% | 13.78% | 21.36% | -11.50% | 15.15% |
MMRIX MainStay Moderate Allocation Fund | 8.16% | 11.38% | 8.84% | 13.65% | -13.76% | 12.21% | 13.01% | 18.20% | -8.86% | 12.11% |
Correlation
The correlation between MGDIX and MMRIX is 0.99 - these two move nearly in lockstep. At this level, holding both provides almost no diversification benefit. If you already own one, adding the other does little to reduce portfolio risk.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.99 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.98 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.99 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.99 |
Correlation (All Time) Calculated using the full available price history since Apr 4, 2005 | 0.99 |
The correlation between MGDIX and MMRIX has been stable across timeframes, ranging from 0.98 to 0.99 - a consistent structural relationship.
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Return for Risk
MGDIX vs. MMRIX — Risk / Return Rank
MGDIX
MMRIX
MGDIX vs. MMRIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay Growth Allocation Fund (MGDIX) 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.
| MGDIX | MMRIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.02 | ||
| Sortino ratioReturn per unit of downside risk | -0.06 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.40 | -0.01 |
| Calmar ratioReturn relative to maximum drawdown | 2.82 | 2.78 | +0.04 |
| Martin ratioReturn relative to average drawdown | 12.31 | 12.14 | +0.18 |
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Drawdowns
MGDIX vs. MMRIX - Drawdown Comparison
The maximum MGDIX drawdown since its inception was -46.05%, which is greater than MMRIX's maximum drawdown of -35.91%. Use the drawdown chart below to compare losses from any high point for MGDIX and MMRIX.
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Drawdown Indicators
| MGDIX | MMRIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -46.05% | -35.91% | -10.14% |
Max Drawdown (1Y)Largest decline over 1 year | -7.84% | -6.40% | -1.44% |
Max Drawdown (3Y)Largest decline over 3 years | -15.67% | -12.10% | -3.57% |
Max Drawdown (5Y)Largest decline over 5 years | -22.24% | -20.40% | -1.84% |
Max Drawdown (10Y)Largest decline over 10 years | -30.13% | -24.34% | -5.79% |
Current DrawdownCurrent decline from peak | -0.17% | -0.13% | -0.04% |
Average DrawdownAverage peak-to-trough decline | -6.22% | -4.48% | -1.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.79% | 1.46% | +0.33% |
Volatility
MGDIX vs. MMRIX - Volatility Comparison
MainStay Growth Allocation Fund (MGDIX) has a higher volatility of 3.97% compared to MainStay Moderate Allocation Fund (MMRIX) at 3.31%. This indicates that MGDIX's price experiences larger fluctuations and is considered to be riskier than MMRIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGDIX | MMRIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.97% | 3.31% | +0.66% |
Volatility (6M)Calculated over the trailing 6-month period | 8.56% | 6.93% | +1.63% |
Volatility (1Y)Calculated over the trailing 1-year period | 10.51% | 8.39% | +2.12% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.29% | 10.46% | +2.83% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 14.14% | 12.23% | +1.91% |
MGDIX vs. MMRIX - Expense Ratio Comparison
MGDIX has a 0.10% expense ratio, which is higher than MMRIX's 0.09% expense ratio. However, both funds are considered low-cost compared to the broader market, where average expense ratios usually range from 0.3% to 0.9%.
Dividends
MGDIX vs. MMRIX - Dividend Comparison
MGDIX's dividend yield for the trailing twelve months is around 4.62%, less than MMRIX's 5.10% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MGDIX MainStay Growth Allocation Fund | 4.62% | 5.11% | 8.27% | 0.14% | 7.62% | 11.17% | 5.44% | 4.58% | 11.08% | 2.83% | 2.25% | 5.77% |
MMRIX MainStay Moderate Allocation Fund | 5.10% | 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
With a correlation of 0.99, MGDIX and MMRIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
MGDIX has higher volatility (3.97%) compared to MMRIX (3.31%). In terms of maximum drawdown, MGDIX dropped -46.05% vs MMRIX's -35.91%.
MMRIX currently has the higher Sharpe Ratio (2.12 vs 2.10), 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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