MKHCX vs. PSHNX
MKHCX (MainStay MacKay High Yield Corporate Bond Fund) and PSHNX (Penn Capital Short Duration High Income Fund) are both High Yield Bonds funds. A 0.67 correlation means they provide meaningful diversification when combined. MKHCX charges 1.83%/yr vs 1.01%/yr for PSHNX.
Performance
MKHCX vs. PSHNX - Performance Comparison
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Returns By Period
MKHCX
- 1D
- —
- 1M
- —
- 6M
- —
- YTD
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
PSHNX
- 1D
- 0.00%
- 1M
- 0.47%
- 6M
- 2.01%
- YTD
- 2.22%
- 1Y
- 5.88%
- 3Y*
- 7.35%
- 5Y*
- 4.83%
- 10Y*
- —
MKHCX vs. PSHNX - 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% | 1.83% |
PSHNX Penn Capital Short Duration High Income Fund | 2.22% | 7.72% | 7.19% | 8.72% | -2.26% | 3.43% | 0.88% | 7.40% | 0.61% | 0.65% |
Correlation
The correlation between MKHCX and PSHNX is 0.67, 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 | 0.55 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.69 |
Correlation (All Time) Calculated using the full available price history since Jul 20, 2017 | 0.67 |
The correlation between MKHCX and PSHNX shifts across timeframes, from 0.55 (3 years) to 0.69 (5 years), reflecting how their relationship changes across market environments.
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Return for Risk
MKHCX vs. PSHNX — Risk / Return Rank
MKHCX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
PSHNX
MKHCX vs. PSHNX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay MacKay High Yield Corporate Bond Fund (MKHCX) and Penn Capital Short Duration High Income Fund (PSHNX). 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 | PSHNX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.75 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 5.07 | — |
| Martin ratioReturn relative to average drawdown | — | 25.91 | — |
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Drawdowns
MKHCX vs. PSHNX - Drawdown Comparison
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Drawdown Indicators
| MKHCX | PSHNX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | — | -14.53% | — |
Max Drawdown (1Y)Largest decline over 1 year | — | -1.14% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -2.83% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -6.02% | — |
Current DrawdownCurrent decline from peak | — | 0.00% | — |
Average DrawdownAverage peak-to-trough decline | — | -0.88% | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.22% | — |
Volatility
MKHCX vs. PSHNX - Volatility Comparison
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Volatility by Period
| MKHCX | PSHNX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.27% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.46% | — |
Volatility (1Y)Calculated over the trailing 1-year period | — | 1.87% | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | — | 2.65% | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | — | 3.14% | — |
MKHCX vs. PSHNX - Expense Ratio Comparison
MKHCX has a 1.83% expense ratio, which is higher than PSHNX's 1.01% expense ratio.
Dividends
MKHCX vs. PSHNX - Dividend Comparison
MKHCX has not paid dividends to shareholders, while PSHNX's dividend yield for the trailing twelve months is around 6.06%.
| 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% |
PSHNX Penn Capital Short Duration High Income Fund | 6.06% | 6.27% | 6.43% | 4.95% | 3.47% | 3.17% | 3.95% | 3.65% | 3.13% | 1.46% | 0.00% | 0.00% |
Frequently Asked Questions
MKHCX and PSHNX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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