MHCAX vs. TIPX
Compare and contrast key facts about MainStay MacKay High Yield Corporate Bond Fund Class A (MHCAX) and SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX).
MHCAX is managed by New York Life. It was launched on May 1, 1986. TIPX is a passively managed fund by State Street that tracks the performance of the Bloomberg US Govt Inflation-Linked (1-10 Y). It was launched on May 29, 2013.
Performance
MHCAX vs. TIPX - Performance Comparison
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MHCAX vs. TIPX - 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% |
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 0.58% | 7.15% | 3.08% | 4.43% | -7.58% | 5.42% | 8.51% | 6.60% | -0.32% | 2.54% |
Returns By Period
In the year-to-date period, MHCAX achieves a -0.62% return, which is significantly lower than TIPX's 0.58% return. Over the past 10 years, MHCAX has outperformed TIPX with an annualized return of 10.09%, while TIPX has yielded a comparatively lower 2.87% 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%
TIPX
- 1D
- -0.06%
- 1M
- -0.58%
- YTD
- 0.58%
- 6M
- 0.65%
- 1Y
- 3.75%
- 3Y*
- 3.99%
- 5Y*
- 2.46%
- 10Y*
- 2.87%
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MHCAX vs. TIPX - Expense Ratio Comparison
MHCAX has a 0.95% expense ratio, which is higher than TIPX's 0.15% expense ratio.
Return for Risk
MHCAX vs. TIPX — Risk / Return Rank
MHCAX
TIPX
MHCAX vs. TIPX - 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 SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX). 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 | TIPX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.64 | 1.20 | +0.44 |
Sortino ratioReturn per unit of downside risk | 2.19 | 1.72 | +0.47 |
Omega ratioGain probability vs. loss probability | 1.42 | 1.23 | +0.19 |
Calmar ratioReturn relative to maximum drawdown | 1.58 | 1.84 | -0.26 |
Martin ratioReturn relative to average drawdown | 7.50 | 6.83 | +0.67 |
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 | TIPX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.64 | 1.20 | +0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.53 | -0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.56 | 0.66 | -0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.77 | 0.49 | +0.29 |
Correlation
The correlation between MHCAX and TIPX is 0.18, 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. TIPX - Dividend Comparison
MHCAX's dividend yield for the trailing twelve months is around 5.62%, more than TIPX's 3.70% 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% |
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 3.70% | 3.78% | 3.57% | 3.57% | 6.08% | 4.26% | 1.73% | 2.53% | 1.90% | 2.84% | 1.04% | 0.06% |
Drawdowns
MHCAX vs. TIPX - Drawdown Comparison
The maximum MHCAX drawdown since its inception was -29.62%, which is greater than TIPX's maximum drawdown of -10.06%. Use the drawdown chart below to compare losses from any high point for MHCAX and TIPX.
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Drawdown Indicators
| MHCAX | TIPX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -29.62% | -10.06% | -19.56% |
Max Drawdown (1Y)Largest decline over 1 year | -2.89% | -2.03% | -0.86% |
Max Drawdown (5Y)Largest decline over 5 years | -11.74% | -10.06% | -1.68% |
Max Drawdown (10Y)Largest decline over 10 years | -18.98% | -10.06% | -8.92% |
Current DrawdownCurrent decline from peak | -1.48% | -0.83% | -0.65% |
Average DrawdownAverage peak-to-trough decline | -2.15% | -2.31% | +0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.61% | 0.55% | +0.06% |
Volatility
MHCAX vs. TIPX - Volatility Comparison
MainStay MacKay High Yield Corporate Bond Fund Class A (MHCAX) and SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) have volatilities of 0.95% and 0.96%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MHCAX | TIPX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.95% | 0.96% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 1.63% | 1.76% | -0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.99% | 3.14% | -0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.35% | 4.64% | +20.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 18.23% | 4.39% | +13.84% |