MGXIX vs. MXFIX

Last updated Jun 24, 2026

MGXIX (MainStay Equity Allocation Fund) and MXFIX (MainStay Floating Rate Fund) are both mutual funds - MGXIX is a Diversified Portfolio fund managed by New York Life, while MXFIX is a Bank Loan fund managed by New York Life. Over the past 10 years, MGXIX returned 10.62%/yr vs 4.65%/yr for MXFIX. At a 0.17 correlation, their price movements are largely independent. MGXIX charges 0.12%/yr vs 0.74%/yr for MXFIX.

Performance

MGXIX vs. MXFIX - Performance Comparison

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

Returns By Period

In the year-to-date period, MGXIX achieves a 12.16% return, which is significantly higher than MXFIX's 0.75% return. Over the past 10 years, MGXIX has outperformed MXFIX with an annualized return of 10.62%, while MXFIX has yielded a comparatively lower 4.65% annualized return.

MGXIX

• 1D: -0.10%
• 1M: 2.07%
• YTD: 12.16%
• 6M: 11.18%
• 1Y: 24.85%
• 3Y*: 16.40%
• 5Y*: 8.30%
• 10Y*: 10.62%

MXFIX

• 1D: -0.12%
• 1M: 0.31%
• YTD: 0.75%
• 6M: 1.59%
• 1Y: 4.41%
• 3Y*: 6.78%
• 5Y*: 5.04%
• 10Y*: 4.65%

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

MGXIX vs. MXFIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MGXIX MainStay Equity Allocation Fund	12.16%	14.31%	11.47%	17.67%	-17.08%	20.76%	15.71%	24.59%	-13.47%	18.74%
MXFIX MainStay Floating Rate Fund	0.75%	5.47%	7.80%	11.43%	-1.27%	3.40%	2.65%	8.46%	-0.41%	4.06%

Correlation

The correlation between MGXIX and MXFIX is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.33
Correlation (3Y) Calculated over the trailing 3-year period	0.28
Correlation (5Y) Calculated over the trailing 5-year period	0.28
Correlation (10Y) Calculated over the trailing 10-year period	0.25
Correlation (All Time) Calculated using the full available price history since Apr 6, 2005	0.17

The correlation between MGXIX and MXFIX shifts across timeframes, from 0.17 (all time) to 0.33 (1 year), reflecting how their relationship changes across market environments.

Return for Risk

MGXIX vs. MXFIX — Risk / Return Rank

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

MGXIX

MGXIX Risk / Return Rank: 58
MGXIX Sharpe Ratio Rank: 58
MGXIX Sortino Ratio Rank: 54
MGXIX Omega Ratio Rank: 55
MGXIX Calmar Ratio Rank: 58
MGXIX Martin Ratio Rank: 67

MXFIX

MXFIX Risk / Return Rank: 62
MXFIX Sharpe Ratio Rank: 45
MXFIX Sortino Ratio Rank: 86
MXFIX Omega Ratio Rank: 88
MXFIX Calmar Ratio Rank: 49
MXFIX Martin Ratio Rank: 40

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. MXFIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MainStay Equity Allocation Fund (MGXIX) and MainStay Floating Rate Fund (MXFIX). 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	MXFIX	Difference
Sharpe ratio: Return per unit of total volatility	2.07	1.81	+0.26
Sortino ratio: Return per unit of downside risk	2.84	3.82	-0.97
Omega ratio: Gain probability vs. loss probability	1.38	1.58	-0.20
Calmar ratio: Return relative to maximum drawdown	2.80	2.57	+0.23
Martin ratio: Return relative to average drawdown	12.27	8.15	+4.13

MGXIX vs. MXFIX - Sharpe Ratio Comparison

The current MGXIX Sharpe Ratio is 2.07, which is comparable to the MXFIX Sharpe Ratio of 1.81. The chart below compares the historical Sharpe Ratios of MGXIX and MXFIX, 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. MXFIX - Drawdown Comparison

The maximum MGXIX drawdown since its inception was -53.45%, which is greater than MXFIX's maximum drawdown of -25.01%. Use the drawdown chart below to compare losses from any high point for MGXIX and MXFIX.

Drawdown Indicators

	MGXIX	MXFIX	Difference
Max Drawdown Largest peak-to-trough decline	-53.45%	-25.01%	-28.44%
Max Drawdown (1Y) Largest decline over 1 year	-9.33%	-1.73%	-7.60%
Max Drawdown (3Y) Largest decline over 3 years	-18.23%	-2.57%	-15.66%
Max Drawdown (5Y) Largest decline over 5 years	-25.63%	-6.34%	-19.29%
Max Drawdown (10Y) Largest decline over 10 years	-34.63%	-20.09%	-14.54%
Current Drawdown Current decline from peak	-0.30%	-0.23%	-0.07%
Average Drawdown Average peak-to-trough decline	-8.40%	-1.21%	-7.19%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.12%	0.54%	+1.58%

Volatility

MGXIX vs. MXFIX - Volatility Comparison

MainStay Equity Allocation Fund (MGXIX) has a higher volatility of 4.64% compared to MainStay Floating Rate Fund (MXFIX) at 0.62%. This indicates that MGXIX's price experiences larger fluctuations and is considered to be riskier than MXFIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGXIX	MXFIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.64%	0.62%	+4.02%
Volatility (6M) Calculated over the trailing 6-month period	10.27%	1.82%	+8.45%
Volatility (1Y) Calculated over the trailing 1-year period	12.62%	2.46%	+10.16%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.80%	2.69%	+13.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.15%	3.82%	+13.33%

MGXIX vs. MXFIX - Expense Ratio Comparison

MGXIX has a 0.12% expense ratio, which is lower than MXFIX's 0.74% expense ratio.

Dividends

MGXIX vs. MXFIX - Dividend Comparison

MGXIX's dividend yield for the trailing twelve months is around 5.45%, less than MXFIX's 7.19% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
MXFIX MainStay Floating Rate Fund	7.19%	7.41%	7.49%	7.50%	4.51%	2.90%	3.46%	4.87%	4.85%	4.09%	3.75%	3.95%

Frequently Asked Questions

Can I hold both MGXIX and MXFIX in my portfolio?

MGXIX and MXFIX have a correlation of 0.33, 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 MXFIX?

MGXIX has higher volatility (4.64%) compared to MXFIX (0.62%). In terms of maximum drawdown, MGXIX dropped -53.45% vs MXFIX's -25.01%.

Which has better risk-adjusted returns?

MGXIX currently has the higher Sharpe Ratio (2.07 vs 1.81), 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.