MIXIX vs. MSTIX
MIXIX (MainStay Short Term Bond Fund) and MSTIX (MainStay MacKay Short Term Municipal Fund) are both mutual funds - MIXIX is a Short-Term Bond fund managed by New York Life, while MSTIX is a Municipal Bonds fund managed by New York Life. Over the past 10 years, MIXIX returned 2.19%/yr vs 1.58%/yr for MSTIX. Their 0.63 correlation means they have sometimes moved together and sometimes differently. Both charge a 0.40% expense ratio.
Performance
MIXIX vs. MSTIX - Performance Comparison
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Returns By Period
The year-to-date returns for both stocks are quite close, with MIXIX having a 0.73% return and MSTIX slightly lower at 0.71%. Over the past 10 years, MIXIX has outperformed MSTIX with an annualized return of 2.19%, while MSTIX has yielded a comparatively lower 1.58% annualized return.
MIXIX
- 1D
- 0.11%
- 1M
- -0.22%
- 6M
- 0.37%
- YTD
- 0.73%
- 1Y
- 2.52%
- 3Y*
- 4.61%
- 5Y*
- 2.08%
- 10Y*
- 2.19%
- ALL TIME*
- 4.58%
MSTIX
- 1D
- 0.00%
- 1M
- -0.64%
- 6M
- -0.09%
- YTD
- 0.71%
- 1Y
- 2.35%
- 3Y*
- 3.41%
- 5Y*
- 1.51%
- 10Y*
- 1.58%
- ALL TIME*
- 4.21%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MIXIX vs. MSTIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MIXIX MainStay Short Term Bond Fund | 0.73% | 5.26% | 5.03% | 4.80% | -4.17% | -0.40% | 3.25% | 8.49% | -0.57% | 3.00% |
MSTIX MainStay MacKay Short Term Municipal Fund | 0.71% | 4.69% | 2.41% | 3.70% | -3.33% | 0.43% | 2.55% | 2.53% | 1.81% | 1.29% |
Correlation
The correlation between MIXIX and MSTIX is 0.36, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.36 |
Correlation (3Y) Balances recent behavior with more history. | 0.40 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.40 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.34 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 1990 | 0.63 |
Over the past year, the correlation between MIXIX and MSTIX has dropped to 0.36 - well below their long-term average of 0.63, suggesting their price drivers have been diverging.
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Return for Risk
MIXIX vs. MSTIX — Risk / Return Rank
MIXIX
MSTIX
MIXIX vs. MSTIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay Short Term Bond Fund (MIXIX) and MainStay MacKay Short Term Municipal Fund (MSTIX). 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.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MIXIX | MSTIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.15 | ||
| Sortino ratioReturn per unit of downside risk | -0.24 | ||
| Omega ratioGain probability vs. loss probability | 1.38 | 1.47 | -0.09 |
| Calmar ratioReturn relative to maximum drawdown | 2.91 | 1.72 | +1.19 |
| Martin ratioReturn relative to average drawdown | 12.75 | 5.47 | +7.28 |
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Drawdowns
MIXIX vs. MSTIX - Drawdown Comparison
The maximum MIXIX drawdown since its inception was -9.13%, roughly equal to the maximum MSTIX drawdown of -8.99%. Use the drawdown chart below to compare losses from any high point for MIXIX and MSTIX.
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Drawdown Indicators
| MIXIX | MSTIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -9.13% | -8.99% | -0.14% |
Max Drawdown (1Y)Largest decline over 1 year | -0.87% | -1.38% | +0.51% |
Max Drawdown (3Y)Largest decline over 3 years | -0.87% | -1.83% | +0.96% |
Max Drawdown (5Y)Largest decline over 5 years | -6.71% | -5.52% | -1.19% |
Max Drawdown (10Y)Largest decline over 10 years | -9.13% | -5.62% | -3.51% |
Current DrawdownCurrent decline from peak | -0.33% | -0.65% | +0.32% |
Average DrawdownAverage peak-to-trough decline | -1.30% | -0.54% | -0.76% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.20% | 0.43% | -0.23% |
Volatility
MIXIX vs. MSTIX - Volatility Comparison
MainStay Short Term Bond Fund (MIXIX) has a higher volatility of 0.58% compared to MainStay MacKay Short Term Municipal Fund (MSTIX) at 0.39%. This indicates that MIXIX's price experiences larger fluctuations and is considered to be riskier than MSTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MIXIX | MSTIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.58% | 0.39% | +0.19% |
Volatility (6M)Calculated over the trailing 6-month period | 1.16% | 1.20% | -0.04% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.48% | 1.50% | -0.02% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.93% | 1.84% | +0.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.58% | 1.58% | +1.00% |
MIXIX vs. MSTIX - Expense Ratio Comparison
Both MIXIX and MSTIX have an expense ratio of 0.40%.
Dividends
MIXIX vs. MSTIX - Dividend Comparison
MIXIX's dividend yield for the trailing twelve months is around 4.08%, more than MSTIX's 2.99% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MIXIX MainStay Short Term Bond Fund | 4.08% | 4.47% | 5.14% | 4.45% | 2.25% | 1.35% | 11.03% | 4.83% | 2.68% | 2.58% | 3.92% | 3.61% |
MSTIX MainStay MacKay Short Term Municipal Fund | 2.99% | 3.38% | 3.14% | 2.85% | 1.38% | 0.85% | 1.37% | 1.76% | 1.48% | 1.28% | 0.87% | 0.82% |
Frequently Asked Questions
MIXIX and MSTIX have a correlation of 0.36, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MIXIX has higher volatility (0.58%) compared to MSTIX (0.39%). In terms of maximum drawdown, MIXIX dropped -9.13% vs MSTIX's -8.99%.
MIXIX currently has the higher Sharpe Ratio (1.72 vs 1.58), 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.
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