MGHAX vs. VEMBX
MGHAX (MainStay Candriam Emerging Markets Debt Fund) and VEMBX (Vanguard Emerging Markets Bond Fund Investor Shares) are both Emerging Markets Bonds funds. Over the past 5 years, MGHAX returned 7.80%/yr vs 3.99%/yr for VEMBX. Their correlation of 0.88 means they have usually moved in the same direction. MGHAX charges 1.15%/yr vs 0.50%/yr for VEMBX.
Performance
MGHAX vs. VEMBX - Performance Comparison
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Returns By Period
In the year-to-date period, MGHAX achieves a 0.66% return, which is significantly lower than VEMBX's 2.14% return.
MGHAX
- 1D
- -0.25%
- 1M
- -1.36%
- 6M
- -0.30%
- YTD
- 0.66%
- 1Y
- 7.23%
- 3Y*
- 9.00%
- 5Y*
- 7.80%
- 10Y*
- 5.76%
- ALL TIME*
- 7.16%
VEMBX
- 1D
- -0.09%
- 1M
- -1.12%
- 6M
- 1.57%
- YTD
- 2.14%
- 1Y
- 8.80%
- 3Y*
- 9.83%
- 5Y*
- 3.99%
- 10Y*
- —
- ALL TIME*
- 6.63%
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 |
MGHAX vs. VEMBX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MGHAX MainStay Candriam Emerging Markets Debt Fund | 0.66% | 13.27% | 6.74% | 13.27% | 9.23% | -4.88% | 2.97% | 15.49% | -6.88% | 11.33% |
VEMBX Vanguard Emerging Markets Bond Fund Investor Shares | 2.14% | 14.32% | 7.38% | 13.66% | -13.18% | -1.53% | 14.99% | 17.72% | -0.89% | 13.12% |
Correlation
The correlation between MGHAX and VEMBX is 0.94, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.94 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 2017 | 0.88 |
The correlation between MGHAX and VEMBX has been stable across timeframes, ranging from 0.88 to 0.94 - a consistent structural relationship.
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Return for Risk
MGHAX vs. VEMBX — Risk / Return Rank
MGHAX
VEMBX
MGHAX vs. VEMBX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay Candriam Emerging Markets Debt Fund (MGHAX) and Vanguard Emerging Markets Bond Fund Investor Shares (VEMBX). 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.
| MGHAX | VEMBX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.89 | ||
| Omega ratioGain probability vs. loss probability | 1.30 | 1.42 | -0.12 |
| Calmar ratioReturn relative to maximum drawdown | 1.62 | 2.43 | -0.82 |
| Martin ratioReturn relative to average drawdown | 6.15 | 10.42 | -4.27 |
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Drawdowns
MGHAX vs. VEMBX - Drawdown Comparison
The maximum MGHAX drawdown since its inception was -33.23%, which is greater than VEMBX's maximum drawdown of -24.36%. Use the drawdown chart below to compare losses from any high point for MGHAX and VEMBX.
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Drawdown Indicators
| MGHAX | VEMBX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -33.23% | -24.36% | -8.87% |
Max Drawdown (1Y)Largest decline over 1 year | -4.70% | -3.77% | -0.93% |
Max Drawdown (3Y)Largest decline over 3 years | -6.13% | -5.00% | -1.13% |
Max Drawdown (5Y)Largest decline over 5 years | -29.50% | -24.36% | -5.14% |
Max Drawdown (10Y)Largest decline over 10 years | -29.61% | — | — |
Current DrawdownCurrent decline from peak | -2.05% | -1.36% | -0.69% |
Average DrawdownAverage peak-to-trough decline | -4.49% | -3.82% | -0.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.23% | 0.88% | +0.35% |
Volatility
MGHAX vs. VEMBX - Volatility Comparison
MainStay Candriam Emerging Markets Debt Fund (MGHAX) and Vanguard Emerging Markets Bond Fund Investor Shares (VEMBX) have volatilities of 1.01% and 1.00%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MGHAX | VEMBX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.01% | 1.00% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 3.92% | 3.67% | +0.25% |
Volatility (1Y)Calculated over the trailing 1-year period | 4.75% | 4.32% | +0.43% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.88% | 6.38% | +9.50% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 12.51% | 6.33% | +6.18% |
MGHAX vs. VEMBX - Expense Ratio Comparison
MGHAX has a 1.15% expense ratio, which is higher than VEMBX's 0.50% expense ratio.
Dividends
MGHAX vs. VEMBX - Dividend Comparison
MGHAX's dividend yield for the trailing twelve months is around 5.94%, more than VEMBX's 5.50% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MGHAX MainStay Candriam Emerging Markets Debt Fund | 5.94% | 6.49% | 7.62% | 5.95% | 31.14% | 5.06% | 5.54% | 4.24% | 4.96% | 4.18% | 5.29% | 6.11% |
VEMBX Vanguard Emerging Markets Bond Fund Investor Shares | 5.50% | 6.20% | 6.86% | 7.06% | 5.43% | 5.00% | 4.50% | 6.27% | 4.81% | 6.50% | 0.00% | 0.00% |
Frequently Asked Questions
With a correlation of 0.94, MGHAX and VEMBX 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.
MGHAX has higher volatility (1.01%) compared to VEMBX (1.00%). In terms of maximum drawdown, MGHAX dropped -33.23% vs VEMBX's -24.36%.
VEMBX currently has the higher Sharpe Ratio (2.12 vs 1.60), 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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