MHCAX vs. PFF
Compare and contrast key facts about MainStay MacKay High Yield Corporate Bond Fund Class A (MHCAX) and iShares Preferred and Income Securities ETF (PFF).
MHCAX is managed by New York Life. It was launched on May 1, 1986. PFF is a passively managed fund by iShares that tracks the performance of the S&P U.S. Preferred Stock Index. It was launched on Mar 30, 2007.
Performance
MHCAX vs. PFF - Performance Comparison
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MHCAX vs. PFF - 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% |
PFF iShares Preferred and Income Securities ETF | -0.76% | 4.87% | 7.24% | 9.22% | -18.19% | 7.15% | 7.89% | 15.93% | -4.64% | 8.10% |
Returns By Period
In the year-to-date period, MHCAX achieves a -0.62% return, which is significantly higher than PFF's -0.76% return. Over the past 10 years, MHCAX has outperformed PFF with an annualized return of 10.09%, while PFF has yielded a comparatively lower 3.31% 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%
PFF
- 1D
- 0.67%
- 1M
- -2.98%
- YTD
- -0.76%
- 6M
- -1.89%
- 1Y
- 5.48%
- 3Y*
- 5.63%
- 5Y*
- 1.15%
- 10Y*
- 3.31%
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MHCAX vs. PFF - Expense Ratio Comparison
MHCAX has a 0.95% expense ratio, which is higher than PFF's 0.46% expense ratio.
Return for Risk
MHCAX vs. PFF — Risk / Return Rank
MHCAX
PFF
MHCAX vs. PFF - 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 iShares Preferred and Income Securities ETF (PFF). 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 | PFF | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.64 | 0.66 | +0.98 |
Sortino ratioReturn per unit of downside risk | 2.19 | 0.97 | +1.23 |
Omega ratioGain probability vs. loss probability | 1.42 | 1.13 | +0.29 |
Calmar ratioReturn relative to maximum drawdown | 1.58 | 1.01 | +0.58 |
Martin ratioReturn relative to average drawdown | 7.50 | 2.85 | +4.65 |
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 | PFF | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.64 | 0.66 | +0.98 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.11 | +0.41 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.26 | +0.29 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.20 | +0.58 |
Correlation
The correlation between MHCAX and PFF is 0.44, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
MHCAX vs. PFF - Dividend Comparison
MHCAX's dividend yield for the trailing twelve months is around 5.62%, less than PFF's 5.85% 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% |
PFF iShares Preferred and Income Securities ETF | 5.85% | 6.30% | 6.32% | 6.63% | 6.01% | 4.45% | 4.79% | 5.31% | 6.32% | 5.59% | 5.85% | 5.76% |
Drawdowns
MHCAX vs. PFF - Drawdown Comparison
The maximum MHCAX drawdown since its inception was -29.62%, smaller than the maximum PFF drawdown of -65.55%. Use the drawdown chart below to compare losses from any high point for MHCAX and PFF.
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Drawdown Indicators
| MHCAX | PFF | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.62% | -65.55% | +35.93% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -5.28% | +2.39% |
Max Drawdown (5Y)Largest decline over 5 years | -11.74% | -21.05% | +9.31% |
Max Drawdown (10Y)Largest decline over 10 years | -18.98% | -34.10% | +15.12% |
Current DrawdownCurrent decline from peak | -1.48% | -4.01% | +2.53% |
Average DrawdownAverage peak-to-trough decline | -2.15% | -5.81% | +3.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 1.86% | -1.25% |
Volatility
MHCAX vs. PFF - Volatility Comparison
The current volatility for MainStay MacKay High Yield Corporate Bond Fund Class A (MHCAX) is 0.95%, while iShares Preferred and Income Securities ETF (PFF) has a volatility of 2.69%. This indicates that MHCAX experiences smaller price fluctuations and is considered to be less risky than PFF based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MHCAX | PFF | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 2.69% | -1.74% |
Volatility (6M)Calculated over the trailing 6-month period | 1.63% | 5.12% | -3.49% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.99% | 8.33% | -5.34% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.35% | 10.26% | +15.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.23% | 12.63% | +5.60% |