MGXIX vs. SMIFX

Last updated Aug 1, 2026

MGXIX (MainStay Equity Allocation Fund) and SMIFX (Sound Mind Investing Fund) are both Diversified Portfolio funds. Over the past 10 years, MGXIX returned 9.78%/yr vs 8.51%/yr for SMIFX. Their correlation of 0.91 means they have usually moved in the same direction. MGXIX charges 0.12%/yr vs 1.19%/yr for SMIFX.

Performance

MGXIX vs. SMIFX - Performance Comparison

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

Returns By Period

In the year-to-date period, MGXIX achieves a 10.83% return, which is significantly higher than SMIFX's 9.83% return. Over the past 10 years, MGXIX has outperformed SMIFX with an annualized return of 9.78%, while SMIFX has yielded a comparatively lower 8.51% 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%

SMIFX

• 1D: 1.92%
• 1M: -2.84%
• 6M: 2.61%
• YTD: 9.83%
• 1Y: 14.46%
• 3Y*: 9.27%
• 5Y*: 5.36%
• 10Y*: 8.51%
• ALL TIME*: 6.63%

*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)
MGXIX MainStay Equity Allocation Fund	$0.00	$0.00	$0.00
SMIFX Sound Mind Investing Fund	$0.00	$0.00	$0.00

MGXIX vs. SMIFX - 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%
SMIFX Sound Mind Investing Fund	9.83%	3.16%	16.65%	5.17%	-8.93%	11.15%	20.76%	19.28%	-8.56%	17.49%

Correlation

The correlation between MGXIX and SMIFX is 0.86, 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.	0.86
Correlation (3Y) Balances recent behavior with more history.	0.88
Correlation (5Y) Shows whether the relationship held over a longer period.	0.85
Correlation (10Y) Provides a long-term view across more market conditions.	0.85
Correlation (All Time) Calculated using the full available price history since Dec 7, 2005	0.91

The correlation between MGXIX and SMIFX has been stable across timeframes, ranging from 0.85 to 0.91 - a consistent structural relationship.

Return for Risk

MGXIX vs. SMIFX — 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

SMIFX

SMIFX Risk / Return Rank: 30
SMIFX Sharpe Ratio Rank: 28
SMIFX Sortino Ratio Rank: 26
SMIFX Omega Ratio Rank: 27
SMIFX Calmar Ratio Rank: 37
SMIFX Martin Ratio Rank: 31

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. SMIFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MainStay Equity Allocation Fund (MGXIX) and Sound Mind Investing Fund (SMIFX). 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	SMIFX	Difference
Sharpe ratio: Return per unit of total volatility	1.47	0.97	+0.50
Sortino ratio: Return per unit of downside risk	2.08	1.37	+0.70
Omega ratio: Gain probability vs. loss probability	1.26	1.18	+0.09
Calmar ratio: Return relative to maximum drawdown	2.03	1.60	+0.43
Martin ratio: Return relative to average drawdown	8.79	4.65	+4.15

MGXIX vs. SMIFX - Sharpe Ratio Comparison

The current MGXIX Sharpe Ratio is 1.47, which is higher than the SMIFX Sharpe Ratio of 0.97. The chart below compares the historical Sharpe Ratios of MGXIX and SMIFX, 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. SMIFX - Drawdown Comparison

The maximum MGXIX drawdown since its inception was -53.45%, roughly equal to the maximum SMIFX drawdown of -54.33%. Use the drawdown chart below to compare losses from any high point for MGXIX and SMIFX.

Drawdown Indicators

	MGXIX	SMIFX	Difference
Max Drawdown Largest peak-to-trough decline	-53.45%	-54.33%	+0.88%
Max Drawdown (1Y) Largest decline over 1 year	-9.33%	-8.04%	-1.29%
Max Drawdown (3Y) Largest decline over 3 years	-18.23%	-19.98%	+1.75%
Max Drawdown (5Y) Largest decline over 5 years	-25.63%	-41.36%	+15.73%
Max Drawdown (10Y) Largest decline over 10 years	-34.63%	-41.36%	+6.73%
Current Drawdown Current decline from peak	-1.82%	-14.24%	+12.42%
Average Drawdown Average peak-to-trough decline	-8.36%	-14.26%	+5.90%
Ulcer Index Depth and duration of drawdowns from previous peaks	2.16%	2.77%	-0.61%

Volatility

MGXIX vs. SMIFX - Volatility Comparison

The current volatility for MainStay Equity Allocation Fund (MGXIX) is 3.51%, while Sound Mind Investing Fund (SMIFX) has a volatility of 4.72%. This indicates that MGXIX experiences smaller price fluctuations and is considered to be less risky than SMIFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MGXIX	SMIFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.51%	4.72%	-1.21%
Volatility (6M) Calculated over the trailing 6-month period	10.59%	10.88%	-0.29%
Volatility (1Y) Calculated over the trailing 1-year period	12.94%	13.39%	-0.45%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.82%	29.08%	-13.26%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.05%	24.21%	-7.16%

MGXIX vs. SMIFX - Expense Ratio Comparison

MGXIX has a 0.12% expense ratio, which is lower than SMIFX's 1.19% expense ratio.

Dividends

MGXIX vs. SMIFX - Dividend Comparison

MGXIX's dividend yield for the trailing twelve months is around 5.52%, more than SMIFX's 4.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
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%
SMIFX Sound Mind Investing Fund	4.85%	5.33%	1.28%	1.73%	0.97%	46.86%	0.00%	0.48%	26.02%	10.06%	0.00%	14.94%

Frequently Asked Questions

Can I hold both MGXIX and SMIFX in my portfolio?

MGXIX and SMIFX have a correlation of 0.86, 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 SMIFX?

SMIFX has higher volatility (4.72%) compared to MGXIX (3.51%). In terms of maximum drawdown, MGXIX dropped -53.45% vs SMIFX's -54.33%.

Which has better risk-adjusted returns?

MGXIX currently has the higher Sharpe Ratio (1.47 vs 0.97), 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.