MHCAX vs. MSPIX
Compare and contrast key facts about MainStay MacKay High Yield Corporate Bond Fund Class A (MHCAX) and MainStay S&P 500 Index Fund (MSPIX).
MHCAX is managed by New York Life. It was launched on May 1, 1986. MSPIX is managed by New York Life. It was launched on Jan 2, 1991.
Performance
MHCAX vs. MSPIX - Performance Comparison
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MHCAX vs. MSPIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MHCAX MainStay MacKay High Yield Corporate Bond Fund Class A | -0.62% | 6.44% | 6.90% | 11.27% | 42.57% | 5.10% | 4.82% | 12.76% | -1.92% | 6.54% |
MSPIX MainStay S&P 500 Index Fund | -7.11% | 17.55% | 24.31% | 26.29% | -18.33% | 28.46% | 18.14% | 31.02% | -4.47% | 21.38% |
Returns By Period
In the year-to-date period, MHCAX achieves a -0.62% return, which is significantly higher than MSPIX's -7.11% return. Over the past 10 years, MHCAX has underperformed MSPIX with an annualized return of 10.09%, while MSPIX has yielded a comparatively higher 13.46% annualized return.
MHCAX
- 1D
- 0.20%
- 1M
- -1.35%
- YTD
- -0.62%
- 6M
- 0.34%
- 1Y
- 4.86%
- 3Y*
- 6.70%
- 5Y*
- 13.28%
- 10Y*
- 10.09%
MSPIX
- 1D
- -0.39%
- 1M
- -7.68%
- YTD
- -7.11%
- 6M
- -4.72%
- 1Y
- 14.15%
- 3Y*
- 16.86%
- 5Y*
- 11.13%
- 10Y*
- 13.46%
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MHCAX vs. MSPIX - Expense Ratio Comparison
MHCAX has a 0.95% expense ratio, which is higher than MSPIX's 0.25% expense ratio.
Return for Risk
MHCAX vs. MSPIX — Risk / Return Rank
MHCAX
MSPIX
MHCAX vs. MSPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay MacKay High Yield Corporate Bond Fund Class A (MHCAX) and MainStay S&P 500 Index Fund (MSPIX). 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.
| MHCAX | MSPIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.61 | 0.82 | +0.79 |
Sortino ratioReturn per unit of downside risk | 2.15 | 1.28 | +0.87 |
Omega ratioGain probability vs. loss probability | 1.41 | 1.19 | +0.21 |
Calmar ratioReturn relative to maximum drawdown | 1.51 | 0.98 | +0.54 |
Martin ratioReturn relative to average drawdown | 7.25 | 4.73 | +2.52 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MHCAX | MSPIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.61 | 0.82 | +0.79 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.66 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.75 | -0.19 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.78 | 0.58 | +0.19 |
Correlation
The correlation between MHCAX and MSPIX is 0.33, 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.
Dividends
MHCAX vs. MSPIX - Dividend Comparison
MHCAX's dividend yield for the trailing twelve months is around 5.62%, more than MSPIX's 1.34% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MHCAX MainStay MacKay High Yield Corporate Bond Fund Class A | 5.62% | 6.06% | 5.90% | 5.56% | 40.91% | 5.00% | 5.52% | 5.58% | 5.94% | 6.20% | 5.69% | 6.72% |
MSPIX MainStay S&P 500 Index Fund | 1.34% | 1.25% | 5.31% | 4.17% | 10.37% | 4.57% | 8.86% | 17.41% | 14.61% | 15.26% | 9.79% | 5.75% |
Drawdowns
MHCAX vs. MSPIX - Drawdown Comparison
The maximum MHCAX drawdown since its inception was -29.62%, smaller than the maximum MSPIX drawdown of -55.30%. Use the drawdown chart below to compare losses from any high point for MHCAX and MSPIX.
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Drawdown Indicators
| MHCAX | MSPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.62% | -55.30% | +25.68% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -12.11% | +9.22% |
Max Drawdown (5Y)Largest decline over 5 years | -11.74% | -24.64% | +12.90% |
Max Drawdown (10Y)Largest decline over 10 years | -18.98% | -33.78% | +14.80% |
Current DrawdownCurrent decline from peak | -1.48% | -8.93% | +7.45% |
Average DrawdownAverage peak-to-trough decline | -2.15% | -8.74% | +6.59% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.60% | 2.57% | -1.97% |
Volatility
MHCAX vs. MSPIX - Volatility Comparison
The current volatility for MainStay MacKay High Yield Corporate Bond Fund Class A (MHCAX) is 0.95%, while MainStay S&P 500 Index Fund (MSPIX) has a volatility of 4.24%. This indicates that MHCAX experiences smaller price fluctuations and is considered to be less risky than MSPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MHCAX | MSPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 4.24% | -3.29% |
Volatility (6M)Calculated over the trailing 6-month period | 1.63% | 9.10% | -7.47% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.00% | 18.13% | -15.13% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.35% | 16.87% | +8.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.23% | 18.04% | +0.19% |