MKHCX vs. MXFIX
MKHCX (MainStay MacKay High Yield Corporate Bond Fund) and MXFIX (MainStay Floating Rate Fund) are both mutual funds - MKHCX is a High Yield Bonds fund managed by New York Life, while MXFIX is a Bank Loan fund managed by New York Life. At a 0.41 correlation, their price movements are largely independent. MKHCX charges 1.83%/yr vs 0.74%/yr for MXFIX.
Performance
MKHCX vs. MXFIX - Performance Comparison
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Returns By Period
MKHCX
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MXFIX
- 1D
- 0.00%
- 1M
- 0.42%
- YTD
- 0.87%
- 6M
- 1.83%
- 1Y
- 4.53%
- 3Y*
- 6.78%
- 5Y*
- 5.07%
- 10Y*
- 4.62%
MKHCX vs. MXFIX - 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% |
MXFIX MainStay Floating Rate Fund | 0.87% | 5.47% | 7.80% | 11.43% | -1.27% | 3.40% | 2.65% | 8.46% | -0.41% | 4.06% |
Correlation
The correlation between MKHCX and MXFIX is 0.41, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (3Y) Calculated over the trailing 3-year period | 0.21 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.36 |
Correlation (All Time) Calculated using the full available price history since Apr 30, 2004 | 0.41 |
The correlation between MKHCX and MXFIX shifts across timeframes, from 0.21 (3 years) to 0.41 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
MKHCX vs. MXFIX — Risk / Return Rank
MKHCX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MXFIX
MKHCX vs. MXFIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay MacKay High Yield Corporate Bond Fund (MKHCX) and MainStay Floating Rate Fund (MXFIX). 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 | MXFIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.60 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.64 | — |
| Martin ratioReturn relative to average drawdown | — | 8.38 | — |
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Drawdowns
MKHCX vs. MXFIX - Drawdown Comparison
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Drawdown Indicators
| MKHCX | MXFIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -25.01% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.73% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -2.57% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -6.34% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -20.09% | — |
Current DrawdownCurrent decline from peak | — | -0.12% | — |
Average DrawdownAverage peak-to-trough decline | — | -1.21% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.54% | — |
Volatility
MKHCX vs. MXFIX - Volatility Comparison
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Volatility by Period
| MKHCX | MXFIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.62% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.81% | — |
Volatility (1Y)Calculated over the trailing 1-year period | — | 2.45% | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | — | 2.69% | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | — | 3.82% | — |
MKHCX vs. MXFIX - Expense Ratio Comparison
MKHCX has a 1.83% expense ratio, which is higher than MXFIX's 0.74% expense ratio.
Dividends
MKHCX vs. MXFIX - Dividend Comparison
MKHCX has not paid dividends to shareholders, while MXFIX's dividend yield for the trailing twelve months is around 7.18%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
MXFIX MainStay Floating Rate Fund | 7.18% | 7.41% | 7.49% | 7.50% | 4.51% | 2.90% | 3.46% | 4.87% | 4.85% | 4.09% | 3.75% | 3.95% |
Frequently Asked Questions
MKHCX and MXFIX have a correlation of 0.41, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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