MHCAX vs. MSXAX
Compare and contrast key facts about MainStay MacKay High Yield Corporate Bond Fund Class A (MHCAX) and NYLI S&P 500 Index Class A (MSXAX).
MHCAX is managed by New York Life. It was launched on May 1, 1986. MSXAX is a passively managed fund by New York Life that tracks the performance of the S&P 500 Index. It was launched on Jan 2, 2004.
Performance
MHCAX vs. MSXAX - Performance Comparison
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MHCAX vs. MSXAX - 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% |
MSXAX NYLI S&P 500 Index Class A | -4.45% | 17.26% | 23.98% | 25.96% | -18.52% | 28.13% | 17.86% | 30.69% | -4.71% | 21.07% |
Returns By Period
In the year-to-date period, MHCAX achieves a -0.62% return, which is significantly higher than MSXAX's -4.45% return. Over the past 10 years, MHCAX has underperformed MSXAX with an annualized return of 10.09%, while MSXAX has yielded a comparatively higher 13.51% annualized return.
MHCAX
- 1D
- 0.00%
- 1M
- -1.35%
- YTD
- -0.62%
- 6M
- 0.34%
- 1Y
- 4.66%
- 3Y*
- 6.70%
- 5Y*
- 13.24%
- 10Y*
- 10.09%
MSXAX
- 1D
- 2.92%
- 1M
- -5.05%
- YTD
- -4.45%
- 6M
- -2.39%
- 1Y
- 16.74%
- 3Y*
- 17.69%
- 5Y*
- 11.23%
- 10Y*
- 13.51%
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MHCAX vs. MSXAX - Expense Ratio Comparison
MHCAX has a 0.95% expense ratio, which is higher than MSXAX's 0.52% expense ratio.
Return for Risk
MHCAX vs. MSXAX — Risk / Return Rank
MHCAX
MSXAX
MHCAX vs. MSXAX - 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 NYLI S&P 500 Index Class A (MSXAX). 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 | MSXAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.64 | 0.95 | +0.69 |
Sortino ratioReturn per unit of downside risk | 2.19 | 1.45 | +0.74 |
Omega ratioGain probability vs. loss probability | 1.42 | 1.22 | +0.20 |
Calmar ratioReturn relative to maximum drawdown | 1.58 | 1.28 | +0.30 |
Martin ratioReturn relative to average drawdown | 7.50 | 6.10 | +1.39 |
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 | MSXAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.64 | 0.95 | +0.69 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.67 | -0.14 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.75 | -0.20 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.52 | +0.25 |
Correlation
The correlation between MHCAX and MSXAX is 0.35, 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. MSXAX - Dividend Comparison
MHCAX's dividend yield for the trailing twelve months is around 5.62%, more than MSXAX's 1.11% 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% |
MSXAX NYLI S&P 500 Index Class A | 1.11% | 1.06% | 5.20% | 4.04% | 10.30% | 4.44% | 8.78% | 17.42% | 14.49% | 15.18% | 9.63% | 5.53% |
Drawdowns
MHCAX vs. MSXAX - Drawdown Comparison
The maximum MHCAX drawdown since its inception was -29.62%, smaller than the maximum MSXAX drawdown of -55.48%. Use the drawdown chart below to compare losses from any high point for MHCAX and MSXAX.
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Drawdown Indicators
| MHCAX | MSXAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.62% | -55.48% | +25.86% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -12.11% | +9.22% |
Max Drawdown (5Y)Largest decline over 5 years | -11.74% | -24.78% | +13.04% |
Max Drawdown (10Y)Largest decline over 10 years | -18.98% | -33.79% | +14.81% |
Current DrawdownCurrent decline from peak | -1.48% | -6.31% | +4.83% |
Average DrawdownAverage peak-to-trough decline | -2.15% | -7.21% | +5.06% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 2.54% | -1.93% |
Volatility
MHCAX vs. MSXAX - Volatility Comparison
The current volatility for MainStay MacKay High Yield Corporate Bond Fund Class A (MHCAX) is 0.95%, while NYLI S&P 500 Index Class A (MSXAX) has a volatility of 5.35%. This indicates that MHCAX experiences smaller price fluctuations and is considered to be less risky than MSXAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MHCAX | MSXAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 5.35% | -4.40% |
Volatility (6M)Calculated over the trailing 6-month period | 1.63% | 9.53% | -7.90% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.99% | 18.32% | -15.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.35% | 16.92% | +8.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.23% | 18.06% | +0.17% |