MIXIX vs. DHEIX

Last updated Jun 4, 2026

MIXIX (MainStay Short Term Bond Fund) and DHEIX (Diamond Hill Short Duration Securitized Bond Fund Class I) are both Short-Term Bond funds. Over the past 5 years, MIXIX returned 2.08%/yr vs 4.56%/yr for DHEIX. A 0.56 correlation means they provide meaningful diversification when combined. MIXIX charges 0.40%/yr vs 0.53%/yr for DHEIX.

Performance

MIXIX vs. DHEIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MainStay Short Term Bond Fund (MIXIX) and Diamond Hill Short Duration Securitized Bond Fund Class I (DHEIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MIXIX achieves a 0.69% return, which is significantly lower than DHEIX's 1.78% return.

MIXIX

• 1D: 0.00%
• 1M: 0.15%
• YTD: 0.69%
• 6M: 0.95%
• 1Y: 3.79%
• 3Y*: 4.81%
• 5Y*: 2.08%
• 10Y*: 2.32%

DHEIX

• 1D: 0.10%
• 1M: 0.46%
• YTD: 1.78%
• 6M: 2.09%
• 1Y: 5.40%
• 3Y*: 7.74%
• 5Y*: 4.56%
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

MIXIX vs. DHEIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MIXIX MainStay Short Term Bond Fund	0.69%	5.26%	5.03%	4.80%	-4.17%	-0.40%	3.25%	8.49%	-0.57%	3.00%
DHEIX Diamond Hill Short Duration Securitized Bond Fund Class I	1.78%	6.06%	9.33%	8.91%	-3.38%	2.74%	3.09%	4.85%	3.18%	4.23%

Correlation

The correlation between MIXIX and DHEIX is 0.52, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.52
Correlation (3Y) Calculated over the trailing 3-year period	0.65
Correlation (5Y) Calculated over the trailing 5-year period	0.70
Correlation (All Time) Calculated using the full available price history since Jan 4, 2017	0.56

The correlation between MIXIX and DHEIX shifts across timeframes, from 0.52 (1 year) to 0.70 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MIXIX vs. DHEIX — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

MIXIX

MIXIX Risk / Return Rank: 87
MIXIX Sharpe Ratio Rank: 79
MIXIX Sortino Ratio Rank: 87
MIXIX Omega Ratio Rank: 88
MIXIX Calmar Ratio Rank: 88
MIXIX Martin Ratio Rank: 92

DHEIX

DHEIX Risk / Return Rank: 99
DHEIX Sharpe Ratio Rank: 99
DHEIX Sortino Ratio Rank: 99
DHEIX Omega Ratio Rank: 99
DHEIX Calmar Ratio Rank: 99
DHEIX Martin Ratio Rank: 99

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

MIXIX vs. DHEIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MainStay Short Term Bond Fund (MIXIX) and Diamond Hill Short Duration Securitized Bond Fund Class I (DHEIX). 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.

	MIXIX	DHEIX	Difference
Sharpe ratio: Return per unit of total volatility	2.60	5.15	-2.55
Sortino ratio: Return per unit of downside risk	4.18	9.46	-5.28
Omega ratio: Gain probability vs. loss probability	1.62	2.90	-1.28
Calmar ratio: Return relative to maximum drawdown	4.37	10.86	-6.49
Martin ratio: Return relative to average drawdown	19.63	48.43	-28.80
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MIXIX vs. DHEIX - Sharpe Ratio Comparison

The current MIXIX Sharpe Ratio is 2.60, which is lower than the DHEIX Sharpe Ratio of 5.15. The chart below compares the historical Sharpe Ratios of MIXIX and DHEIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MIXIX	DHEIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.60	5.15	-2.55
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	1.10	2.99	-1.89
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.89	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.24	1.89	-0.65

Drawdowns

MIXIX vs. DHEIX - Drawdown Comparison

The maximum MIXIX drawdown since its inception was -9.13%, smaller than the maximum DHEIX drawdown of -12.33%. Use the drawdown chart below to compare losses from any high point for MIXIX and DHEIX.

Drawdown Indicators

	MIXIX	DHEIX	Difference
Max Drawdown Largest peak-to-trough decline	-9.13%	-12.33%	+3.20%
Max Drawdown (1Y) Largest decline over 1 year	-0.87%	-0.50%	-0.37%
Max Drawdown (3Y) Largest decline over 3 years	-0.87%	-0.50%	-0.37%
Max Drawdown (5Y) Largest decline over 5 years	-6.71%	-4.87%	-1.84%
Max Drawdown (10Y) Largest decline over 10 years	-9.13%	—	—
Current Drawdown Current decline from peak	-0.11%	0.00%	-0.11%
Average Drawdown Average peak-to-trough decline	-1.30%	-0.76%	-0.54%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.19%	0.11%	+0.08%

Volatility

MIXIX vs. DHEIX - Volatility Comparison

MainStay Short Term Bond Fund (MIXIX) has a higher volatility of 0.42% compared to Diamond Hill Short Duration Securitized Bond Fund Class I (DHEIX) at 0.32%. This indicates that MIXIX's price experiences larger fluctuations and is considered to be riskier than DHEIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MIXIX	DHEIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.42%	0.32%	+0.10%
Volatility (6M) Calculated over the trailing 6-month period	1.02%	0.74%	+0.28%
Volatility (1Y) Calculated over the trailing 1-year period	1.47%	1.05%	+0.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.91%	1.53%	+0.38%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	2.60%	2.27%	+0.33%

MIXIX vs. DHEIX - Expense Ratio Comparison

MIXIX has a 0.40% expense ratio, which is lower than DHEIX's 0.53% expense ratio.

Dividends

MIXIX vs. DHEIX - Dividend Comparison

MIXIX's dividend yield for the trailing twelve months is around 4.42%, less than DHEIX's 5.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
DHEIX Diamond Hill Short Duration Securitized Bond Fund Class I	5.91%	5.51%	6.21%	5.52%	3.72%	2.62%	3.22%	4.05%	3.74%	3.45%	0.00%	0.00%
MIXIX MainStay Short Term Bond Fund	4.42%	4.47%	5.14%	4.45%	2.25%	1.35%	11.03%	4.83%	2.68%	2.58%	3.92%	3.61%

Frequently Asked Questions

Can I hold both MIXIX and DHEIX in my portfolio?

MIXIX and DHEIX have a correlation of 0.52, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MIXIX or DHEIX?

MIXIX has higher volatility (0.42%) compared to DHEIX (0.32%). In terms of maximum drawdown, MIXIX dropped -9.13% vs DHEIX's -12.33%.

Which has better risk-adjusted returns?

DHEIX currently has the higher Sharpe Ratio (5.15 vs 2.60), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.