MKHCX vs. FSHNX
MKHCX (MainStay MacKay High Yield Corporate Bond Fund) and FSHNX (Fidelity Series High Income Fund) are both High Yield Bonds funds. A 0.71 correlation means they provide meaningful diversification when combined. MKHCX charges 1.83%/yr vs 0.00%/yr for FSHNX.
Performance
MKHCX vs. FSHNX - Performance Comparison
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Returns By Period
MKHCX
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
FSHNX
- 1D
- 0.11%
- 1M
- 0.31%
- 6M
- 3.07%
- YTD
- 3.42%
- 1Y
- 9.00%
- 3Y*
- 10.11%
- 5Y*
- 4.70%
- 10Y*
- 5.96%
MKHCX vs. FSHNX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MKHCX MainStay MacKay High Yield Corporate Bond Fund | 0.00% | 1.00% | 5.72% | 10.54% | -9.09% | 4.07% | 4.14% | 11.68% | -2.55% | 5.69% |
FSHNX Fidelity Series High Income Fund | 3.42% | 11.17% | 8.75% | 11.25% | -11.52% | 6.05% | 4.57% | 15.20% | -2.14% | 9.40% |
Correlation
The correlation between MKHCX and FSHNX is 0.71, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.
| Correlation | |
|---|---|
Correlation (3Y) Calculated over the trailing 3-year period | 0.59 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.73 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.71 |
Correlation (All Time) Calculated using the full available price history since Mar 14, 2011 | 0.71 |
The correlation between MKHCX and FSHNX shifts across timeframes, from 0.59 (3 years) to 0.73 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MKHCX vs. FSHNX — Risk / Return Rank
MKHCX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
FSHNX
MKHCX vs. FSHNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay MacKay High Yield Corporate Bond Fund (MKHCX) and Fidelity Series High Income Fund (FSHNX). 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.
| MKHCX | FSHNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.64 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 4.20 | — |
| Martin ratioReturn relative to average drawdown | — | 21.48 | — |
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Drawdowns
MKHCX vs. FSHNX - Drawdown Comparison
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Drawdown Indicators
| MKHCX | FSHNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -21.98% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.13% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.05% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -15.32% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -21.98% | — |
Current DrawdownCurrent decline from peak | — | -0.11% | — |
Average DrawdownAverage peak-to-trough decline | — | -2.40% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.41% | — |
Volatility
MKHCX vs. FSHNX - Volatility Comparison
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Volatility by Period
| MKHCX | FSHNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.81% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 2.60% | — |
Volatility (1Y)Calculated over the trailing 1-year period | — | 3.32% | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | — | 5.31% | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | — | 5.79% | — |
MKHCX vs. FSHNX - Expense Ratio Comparison
MKHCX has a 1.83% expense ratio, which is higher than FSHNX's 0.00% expense ratio.
Dividends
MKHCX vs. FSHNX - Dividend Comparison
MKHCX has not paid dividends to shareholders, while FSHNX's dividend yield for the trailing twelve months is around 7.00%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FSHNX Fidelity Series High Income Fund | 7.00% | 7.04% | 5.97% | 6.21% | 4.90% | 5.01% | 5.57% | 6.35% | 6.95% | 6.03% | 6.24% | 5.79% |
MKHCX MainStay MacKay High Yield Corporate Bond Fund | 0.00% | 0.42% | 4.98% | 4.69% | 4.21% | 4.19% | 4.72% | 4.78% | 5.09% | 5.39% | 5.40% | 5.85% |
Frequently Asked Questions
MKHCX and FSHNX have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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