MHCAX vs. HYG
Compare and contrast key facts about MainStay MacKay High Yield Corporate Bond Fund Class A (MHCAX) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG).
MHCAX is managed by New York Life Investments. It was launched on May 1, 1986. HYG is a passively managed fund by iShares that tracks the performance of the iBoxx $ Liquid High Yield Index. It was launched on Apr 11, 2007.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: MHCAX or HYG.
Correlation
The correlation between MHCAX and HYG is 0.36, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Performance
MHCAX vs. HYG - Performance Comparison
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Key characteristics
MHCAX:
2.01
HYG:
1.59
MHCAX:
2.79
HYG:
2.44
MHCAX:
1.51
HYG:
1.35
MHCAX:
1.92
HYG:
2.06
MHCAX:
9.15
HYG:
10.88
MHCAX:
0.70%
HYG:
0.86%
MHCAX:
3.10%
HYG:
5.71%
MHCAX:
-29.56%
HYG:
-34.24%
MHCAX:
-0.19%
HYG:
-0.06%
Returns By Period
In the year-to-date period, MHCAX achieves a 1.60% return, which is significantly lower than HYG's 2.94% return. Over the past 10 years, MHCAX has outperformed HYG with an annualized return of 4.63%, while HYG has yielded a comparatively lower 4.03% annualized return.
MHCAX
1.60%
2.10%
2.01%
6.19%
5.94%
4.63%
HYG
2.94%
3.24%
3.18%
9.00%
5.60%
4.03%
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MHCAX vs. HYG - Expense Ratio Comparison
MHCAX has a 0.95% expense ratio, which is higher than HYG's 0.49% expense ratio.
Risk-Adjusted Performance
MHCAX vs. HYG — Risk-Adjusted Performance Rank
MHCAX
HYG
MHCAX vs. HYG - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay MacKay High Yield Corporate Bond Fund Class A (MHCAX) and iShares iBoxx $ High Yield Corporate Bond ETF (HYG). 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.
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Dividends
MHCAX vs. HYG - Dividend Comparison
MHCAX's dividend yield for the trailing twelve months is around 5.85%, which matches HYG's 5.82% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MHCAX MainStay MacKay High Yield Corporate Bond Fund Class A | 5.85% | 5.92% | 5.56% | 5.17% | 4.91% | 5.44% | 5.49% | 5.85% | 6.26% | 6.27% | 6.79% | 6.90% |
HYG iShares iBoxx $ High Yield Corporate Bond ETF | 5.82% | 6.01% | 5.74% | 5.30% | 4.02% | 4.88% | 4.99% | 5.54% | 5.12% | 5.27% | 5.90% | 5.69% |
Drawdowns
MHCAX vs. HYG - Drawdown Comparison
The maximum MHCAX drawdown since its inception was -29.56%, smaller than the maximum HYG drawdown of -34.24%. Use the drawdown chart below to compare losses from any high point for MHCAX and HYG. For additional features, visit the drawdowns tool.
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Volatility
MHCAX vs. HYG - Volatility Comparison
The current volatility for MainStay MacKay High Yield Corporate Bond Fund Class A (MHCAX) is 1.10%, while iShares iBoxx $ High Yield Corporate Bond ETF (HYG) has a volatility of 1.80%. This indicates that MHCAX experiences smaller price fluctuations and is considered to be less risky than HYG based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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