MGXIX vs. BWBIX

Last updated Jun 4, 2026

MGXIX (MainStay Equity Allocation Fund) and BWBIX (Baron WealthBuilder Fund) are both Diversified Portfolio funds. Over the past 5 years, MGXIX returned 8.35%/yr vs 4.59%/yr for BWBIX. Their correlation of 0.89 suggests significant overlap in exposure. MGXIX charges 0.12%/yr vs 0.05%/yr for BWBIX.

Performance

MGXIX vs. BWBIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MainStay Equity Allocation Fund (MGXIX) and Baron WealthBuilder Fund (BWBIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MGXIX achieves a 12.33% return, which is significantly higher than BWBIX's 0.74% return.

MGXIX

• 1D: 0.30%
• 1M: 5.25%
• YTD: 12.33%
• 6M: 12.63%
• 1Y: 25.48%
• 3Y*: 16.57%
• 5Y*: 8.35%
• 10Y*: 10.15%

BWBIX

• 1D: -1.04%
• 1M: 4.14%
• YTD: 0.74%
• 6M: 5.76%
• 1Y: 11.63%
• 3Y*: 13.94%
• 5Y*: 4.59%
• 10Y*: —

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

MGXIX vs. BWBIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018
MGXIX MainStay Equity Allocation Fund	12.33%	14.31%	11.47%	17.67%	-17.08%	20.76%	15.71%	24.59%	-14.62%
BWBIX Baron WealthBuilder Fund	0.74%	10.23%	19.62%	25.77%	-32.58%	14.76%	62.85%	36.41%	-12.02%

Correlation

The correlation between MGXIX and BWBIX is 0.85, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.85
Correlation (3Y) Calculated over the trailing 3-year period	0.90
Correlation (5Y) Calculated over the trailing 5-year period	0.90
Correlation (All Time) Calculated using the full available price history since May 22, 2018	0.89

The correlation between MGXIX and BWBIX has been stable across timeframes, ranging from 0.85 to 0.90 - a consistent structural relationship.

Return for Risk

MGXIX vs. BWBIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MGXIX

MGXIX Risk / Return Rank: 55
MGXIX Sharpe Ratio Rank: 54
MGXIX Sortino Ratio Rank: 51
MGXIX Omega Ratio Rank: 51
MGXIX Calmar Ratio Rank: 54
MGXIX Martin Ratio Rank: 63

BWBIX

BWBIX Risk / Return Rank: 11
BWBIX Sharpe Ratio Rank: 11
BWBIX Sortino Ratio Rank: 12
BWBIX Omega Ratio Rank: 11
BWBIX Calmar Ratio Rank: 11
BWBIX Martin Ratio Rank: 12

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MGXIX vs. BWBIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MainStay Equity Allocation Fund (MGXIX) and Baron WealthBuilder Fund (BWBIX). 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.

	MGXIX	BWBIX	Difference
Sharpe ratio: Return per unit of total volatility	2.18	0.85	+1.32
Sortino ratio: Return per unit of downside risk	3.01	1.37	+1.65
Omega ratio: Gain probability vs. loss probability	1.39	1.16	+0.23
Calmar ratio: Return relative to maximum drawdown	2.80	1.05	+1.75
Martin ratio: Return relative to average drawdown	12.44	3.47	+8.97
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MGXIX vs. BWBIX - Sharpe Ratio Comparison

The current MGXIX Sharpe Ratio is 2.18, which is higher than the BWBIX Sharpe Ratio of 0.85. The chart below compares the historical Sharpe Ratios of MGXIX and BWBIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MGXIX	BWBIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	0.85	+1.32
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.53	0.22	+0.32
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.60	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.53	-0.10

Drawdowns

MGXIX vs. BWBIX - Drawdown Comparison

The maximum MGXIX drawdown since its inception was -53.45%, which is greater than BWBIX's maximum drawdown of -39.14%. Use the drawdown chart below to compare losses from any high point for MGXIX and BWBIX.

Drawdown Indicators

	MGXIX	BWBIX	Difference
Max Drawdown Largest peak-to-trough decline	-53.45%	-39.14%	-14.31%
Max Drawdown (1Y) Largest decline over 1 year	-9.33%	-11.65%	+2.32%
Max Drawdown (3Y) Largest decline over 3 years	-18.23%	-21.59%	+3.36%
Max Drawdown (5Y) Largest decline over 5 years	-25.63%	-39.14%	+13.51%
Max Drawdown (10Y) Largest decline over 10 years	-34.63%	—	—
Current Drawdown Current decline from peak	0.00%	-1.26%	+1.26%
Average Drawdown Average peak-to-trough decline	-8.42%	-11.72%	+3.30%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	3.53%	-1.44%

Volatility

MGXIX vs. BWBIX - Volatility Comparison

MainStay Equity Allocation Fund (MGXIX) and Baron WealthBuilder Fund (BWBIX) have volatilities of 3.29% and 3.38%, 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.

Volatility by Period

	MGXIX	BWBIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.29%	3.38%	-0.09%
Volatility (6M) Calculated over the trailing 6-month period	9.43%	10.99%	-1.56%
Volatility (1Y) Calculated over the trailing 1-year period	12.02%	14.36%	-2.34%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.71%	21.08%	-5.37%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.12%	23.14%	-6.02%

MGXIX vs. BWBIX - Expense Ratio Comparison

MGXIX has a 0.12% expense ratio, which is higher than BWBIX's 0.05% 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

MGXIX vs. BWBIX - Dividend Comparison

MGXIX's dividend yield for the trailing twelve months is around 5.45%, less than BWBIX's 7.55% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
BWBIX Baron WealthBuilder Fund	7.55%	7.61%	0.77%	0.06%	3.21%	3.75%	1.24%	3.51%	0.14%	0.00%	0.00%	0.00%
MGXIX MainStay Equity Allocation Fund	5.45%	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 BWBIX in my portfolio?

MGXIX and BWBIX have a correlation of 0.85, 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 BWBIX?

BWBIX has higher volatility (3.38%) compared to MGXIX (3.29%). In terms of maximum drawdown, MGXIX dropped -53.45% vs BWBIX's -39.14%.

Which has better risk-adjusted returns?

MGXIX currently has the higher Sharpe Ratio (2.18 vs 0.85), 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.