MGXIX vs. AAAAX

Last updated Aug 1, 2026

MGXIX (MainStay Equity Allocation Fund) and AAAAX (DWS RREEF Real Assets Fund - Class A) are both Diversified Portfolio funds. Over the past 10 years, MGXIX returned 9.78%/yr vs 6.85%/yr for AAAAX. Their 0.76 correlation means they have sometimes moved together and sometimes differently. MGXIX charges 0.12%/yr vs 1.22%/yr for AAAAX.

Performance

MGXIX vs. AAAAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MainStay Equity Allocation Fund (MGXIX) and DWS RREEF Real Assets Fund - Class A (AAAAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both investments are quite close, with MGXIX having a 10.83% return and AAAAX slightly higher at 11.12%. Over the past 10 years, MGXIX has outperformed AAAAX with an annualized return of 9.78%, while AAAAX has yielded a comparatively lower 6.85% annualized return.

MGXIX

• 1D: 1.68%
• 1M: -0.99%
• 6M: 7.66%
• YTD: 10.83%
• 1Y: 21.04%
• 3Y*: 13.71%
• 5Y*: 7.61%
• 10Y*: 9.78%
• ALL TIME*: 7.87%

AAAAX

• 1D: 0.45%
• 1M: 2.66%
• 6M: 3.23%
• YTD: 11.12%
• 1Y: 17.87%
• 3Y*: 10.05%
• 5Y*: 5.12%
• 10Y*: 6.85%
• ALL TIME*: 4.54%

*Multi-year figures are annualized to reflect compound growth (CAGR)

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
AAAAX DWS RREEF Real Assets Fund - Class A	$0.00	$0.00	$0.00
MGXIX MainStay Equity Allocation Fund	$0.00	$0.00	$0.00

MGXIX vs. AAAAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGXIX MainStay Equity Allocation Fund	10.83%	14.31%	11.47%	17.67%	-17.08%	20.76%	15.71%	24.59%	-13.47%	18.74%
AAAAX DWS RREEF Real Assets Fund - Class A	11.12%	12.82%	5.24%	2.30%	-9.91%	23.45%	3.71%	21.42%	-5.36%	14.67%

Correlation

The correlation between MGXIX and AAAAX is 0.39, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	0.39
Correlation (3Y) Balances recent behavior with more history.	0.60
Correlation (5Y) Shows whether the relationship held over a longer period.	0.69
Correlation (10Y) Provides a long-term view across more market conditions.	0.72
Correlation (All Time) Calculated using the full available price history since Jul 31, 2007	0.76

Over the past year, the correlation between MGXIX and AAAAX has dropped to 0.39 - well below their long-term average of 0.76, suggesting their price drivers have been diverging.

Return for Risk

MGXIX vs. AAAAX — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MGXIX

MGXIX Risk / Return Rank: 58
MGXIX Sharpe Ratio Rank: 57
MGXIX Sortino Ratio Rank: 55
MGXIX Omega Ratio Rank: 54
MGXIX Calmar Ratio Rank: 56
MGXIX Martin Ratio Rank: 70

AAAAX

AAAAX Risk / Return Rank: 77
AAAAX Sharpe Ratio Rank: 80
AAAAX Sortino Ratio Rank: 75
AAAAX Omega Ratio Rank: 77
AAAAX Calmar Ratio Rank: 86
AAAAX Martin Ratio Rank: 66

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MGXIX vs. AAAAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MainStay Equity Allocation Fund (MGXIX) and DWS RREEF Real Assets Fund - Class A (AAAAX). 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.

	MGXIX	AAAAX	Difference
Sharpe ratio: Return per unit of total volatility	1.47	1.86	-0.39
Sortino ratio: Return per unit of downside risk	2.08	2.52	-0.44
Omega ratio: Gain probability vs. loss probability	1.26	1.34	-0.07
Calmar ratio: Return relative to maximum drawdown	2.03	2.96	-0.93
Martin ratio: Return relative to average drawdown	8.79	8.10	+0.69

MGXIX vs. AAAAX - Sharpe Ratio Comparison

The current MGXIX Sharpe Ratio is 1.47, which is comparable to the AAAAX Sharpe Ratio of 1.86. The chart below compares the historical Sharpe Ratios of MGXIX and AAAAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MGXIX vs. AAAAX - Drawdown Comparison

The maximum MGXIX drawdown since its inception was -53.45%, which is greater than AAAAX's maximum drawdown of -40.47%. Use the drawdown chart below to compare losses from any high point for MGXIX and AAAAX.

Drawdown Indicators

	MGXIX	AAAAX	Difference
Max Drawdown Largest peak-to-trough decline	-53.45%	-40.47%	-12.98%
Max Drawdown (1Y) Largest decline over 1 year	-9.33%	-5.82%	-3.51%
Max Drawdown (3Y) Largest decline over 3 years	-18.23%	-10.11%	-8.12%
Max Drawdown (5Y) Largest decline over 5 years	-25.63%	-22.62%	-3.01%
Max Drawdown (10Y) Largest decline over 10 years	-34.63%	-29.41%	-5.22%
Current Drawdown Current decline from peak	-1.82%	-2.35%	+0.53%
Average Drawdown Average peak-to-trough decline	-8.36%	-6.82%	-1.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	2.13%	+0.03%

Volatility

MGXIX vs. AAAAX - Volatility Comparison

MainStay Equity Allocation Fund (MGXIX) has a higher volatility of 3.51% compared to DWS RREEF Real Assets Fund - Class A (AAAAX) at 2.20%. This indicates that MGXIX's price experiences larger fluctuations and is considered to be riskier than AAAAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGXIX	AAAAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.51%	2.20%	+1.31%
Volatility (6M) Calculated over the trailing 6-month period	10.59%	7.47%	+3.12%
Volatility (1Y) Calculated over the trailing 1-year period	12.94%	9.33%	+3.61%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.82%	12.05%	+3.77%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.05%	12.67%	+4.38%

MGXIX vs. AAAAX - Expense Ratio Comparison

MGXIX has a 0.12% expense ratio, which is lower than AAAAX's 1.22% expense ratio.

Dividends

MGXIX vs. AAAAX - Dividend Comparison

MGXIX's dividend yield for the trailing twelve months is around 5.52%, less than AAAAX's 5.95% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
AAAAX DWS RREEF Real Assets Fund - Class A	5.95%	3.54%	2.45%	2.08%	4.17%	2.31%	1.33%	1.81%	1.61%	1.52%	1.47%	2.15%
MGXIX MainStay Equity Allocation Fund	5.52%	6.12%	6.68%	0.00%	11.02%	12.58%	4.97%	5.52%	12.44%	3.42%	2.90%	5.94%

Frequently Asked Questions

Can I hold both MGXIX and AAAAX in my portfolio?

MGXIX and AAAAX have a correlation of 0.39, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MGXIX or AAAAX?

MGXIX has higher volatility (3.51%) compared to AAAAX (2.20%). In terms of maximum drawdown, MGXIX dropped -53.45% vs AAAAX's -40.47%.

Which has better risk-adjusted returns?

AAAAX currently has the higher Sharpe Ratio (1.86 vs 1.47), 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.