MGXIX vs. KLGAX

Last updated Jun 3, 2026

MGXIX (MainStay Equity Allocation Fund) and KLGAX (MainStay WMC Growth Fund) are both mutual funds - MGXIX is a Diversified Portfolio fund managed by New York Life, while KLGAX is a Large Cap Growth Equities fund managed by New York Life. Over the past 10 years, MGXIX returned 10.12%/yr vs 13.86%/yr for KLGAX. Their correlation of 0.90 suggests significant overlap in exposure. MGXIX charges 0.12%/yr vs 1.02%/yr for KLGAX.

Performance

MGXIX vs. KLGAX - Performance Comparison

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

Returns By Period

In the year-to-date period, MGXIX achieves a 11.99% return, which is significantly higher than KLGAX's 6.38% return. Over the past 10 years, MGXIX has underperformed KLGAX with an annualized return of 10.12%, while KLGAX has yielded a comparatively higher 13.86% annualized return.

MGXIX

• 1D: 0.40%
• 1M: 4.51%
• YTD: 11.99%
• 6M: 12.95%
• 1Y: 25.55%
• 3Y*: 16.45%
• 5Y*: 8.19%
• 10Y*: 10.12%

KLGAX

• 1D: 1.55%
• 1M: 5.88%
• YTD: 6.38%
• 6M: 5.72%
• 1Y: 21.81%
• 3Y*: 20.67%
• 5Y*: 9.83%
• 10Y*: 13.86%

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

MGXIX vs. KLGAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGXIX MainStay Equity Allocation Fund	11.99%	14.31%	11.47%	17.67%	-17.08%	20.76%	15.71%	24.59%	-13.47%	18.74%
KLGAX MainStay WMC Growth Fund	6.38%	16.60%	25.22%	38.63%	-33.53%	17.85%	31.88%	29.41%	-4.33%	30.05%

Correlation

The correlation between MGXIX and KLGAX is 0.82, 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	0.82
Correlation (3Y) Calculated over the trailing 3-year period	0.82
Correlation (5Y) Calculated over the trailing 5-year period	0.87
Correlation (10Y) Calculated over the trailing 10-year period	0.86
Correlation (All Time) Calculated using the full available price history since Aug 8, 2006	0.90

The correlation between MGXIX and KLGAX has been stable across timeframes, ranging from 0.82 to 0.90 - a consistent structural relationship.

Return for Risk

MGXIX vs. KLGAX — 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: 55
MGXIX Sortino Ratio Rank: 51
MGXIX Omega Ratio Rank: 51
MGXIX Calmar Ratio Rank: 54
MGXIX Martin Ratio Rank: 64

KLGAX

KLGAX Risk / Return Rank: 20
KLGAX Sharpe Ratio Rank: 24
KLGAX Sortino Ratio Rank: 22
KLGAX Omega Ratio Rank: 23
KLGAX Calmar Ratio Rank: 15
KLGAX Martin Ratio Rank: 17

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. KLGAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MainStay Equity Allocation Fund (MGXIX) and MainStay WMC Growth Fund (KLGAX). 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	KLGAX	Difference
Sharpe ratio Return per unit of total volatility	2.18	1.43	+0.75
Sortino ratio Return per unit of downside risk	3.02	1.99	+1.03
Omega ratio Gain probability vs. loss probability	1.39	1.26	+0.14
Calmar ratio Return relative to maximum drawdown	2.82	1.40	+1.42
Martin ratio Return relative to average drawdown	12.59	4.83	+7.76
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. KLGAX - Sharpe Ratio Comparison

The current MGXIX Sharpe Ratio is 2.18, which is higher than the KLGAX Sharpe Ratio of 1.43. The chart below compares the historical Sharpe Ratios of MGXIX and KLGAX, 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	KLGAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.18	1.43	+0.75
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.52	0.44	+0.09
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.63	-0.04
Sharpe Ratio (All Time) Calculated using the full available price history	0.43	0.46	-0.02

Drawdowns

MGXIX vs. KLGAX - Drawdown Comparison

The maximum MGXIX drawdown since its inception was -53.45%, roughly equal to the maximum KLGAX drawdown of -55.04%. Use the drawdown chart below to compare losses from any high point for MGXIX and KLGAX.

Drawdown Indicators

	MGXIX	KLGAX	Difference
Max Drawdown Largest peak-to-trough decline	-53.45%	-55.04%	+1.59%
Max Drawdown (1Y) Largest decline over 1 year	-9.33%	-16.03%	+6.70%
Max Drawdown (3Y) Largest decline over 3 years	-18.23%	-22.71%	+4.48%
Max Drawdown (5Y) Largest decline over 5 years	-25.63%	-39.29%	+13.66%
Max Drawdown (10Y) Largest decline over 10 years	-34.63%	-39.29%	+4.66%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.42%	-9.49%	+1.07%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.09%	4.66%	-2.57%

Volatility

MGXIX vs. KLGAX - Volatility Comparison

MainStay Equity Allocation Fund (MGXIX) and MainStay WMC Growth Fund (KLGAX) have volatilities of 3.28% and 3.41%, 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	KLGAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.28%	3.41%	-0.13%
Volatility (6M) Calculated over the trailing 6-month period	9.45%	12.06%	-2.61%
Volatility (1Y) Calculated over the trailing 1-year period	12.04%	15.96%	-3.92%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.71%	22.53%	-6.82%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.12%	21.95%	-4.83%

MGXIX vs. KLGAX - Expense Ratio Comparison

MGXIX has a 0.12% expense ratio, which is lower than KLGAX's 1.02% expense ratio.

Dividends

MGXIX vs. KLGAX - Dividend Comparison

MGXIX's dividend yield for the trailing twelve months is around 5.46%, more than KLGAX's 3.18% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
KLGAX MainStay WMC Growth Fund	3.18%	3.38%	3.96%	0.00%	0.00%	26.57%	3.69%	3.43%	11.10%	3.85%	8.73%	7.55%
MGXIX MainStay Equity Allocation Fund	5.46%	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 KLGAX in my portfolio?

MGXIX and KLGAX have a correlation of 0.82, 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 KLGAX?

KLGAX has higher volatility (3.41%) compared to MGXIX (3.28%). In terms of maximum drawdown, MGXIX dropped -53.45% vs KLGAX's -55.04%.

Which has better risk-adjusted returns?

MGXIX currently has the higher Sharpe Ratio (2.18 vs 1.43), 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.