MLAAX vs. MKHCX

Last updated Jun 4, 2026

MLAAX (MainStay Winslow Large Cap Growth Fund) and MKHCX (MainStay MacKay High Yield Corporate Bond Fund) are both mutual funds - MLAAX is a Large Cap Growth Equities fund managed by New York Life, while MKHCX is a High Yield Bonds fund managed by New York Life. At a 0.30 correlation, their price movements are largely independent. MLAAX charges 0.93%/yr vs 1.83%/yr for MKHCX.

Performance

MLAAX vs. MKHCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MainStay Winslow Large Cap Growth Fund (MLAAX) and MainStay MacKay High Yield Corporate Bond Fund (MKHCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MLAAX

• 1D: 0.32%
• 1M: 7.11%
• YTD: 6.26%
• 6M: 4.97%
• 1Y: 16.12%
• 3Y*: 22.63%
• 5Y*: 12.84%
• 10Y*: 17.07%

MKHCX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MLAAX vs. MKHCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLAAX MainStay Winslow Large Cap Growth Fund	6.26%	14.20%	28.95%	43.10%	-31.51%	25.00%	36.95%	33.18%	3.81%	32.19%
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%

Correlation

The correlation between MLAAX and MKHCX is 0.30, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.30
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.39
Correlation (All Time) Calculated using the full available price history since Jul 10, 1995	0.30

The correlation between MLAAX and MKHCX shifts across timeframes, from 0.30 (3 years) to 0.41 (5 years), reflecting how their relationship changes across market environments.

Return for Risk

MLAAX vs. MKHCX — Risk / Return Rank

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

MLAAX

MLAAX Risk / Return Rank: 11
MLAAX Sharpe Ratio Rank: 14
MLAAX Sortino Ratio Rank: 13
MLAAX Omega Ratio Rank: 13
MLAAX Calmar Ratio Rank: 8
MLAAX Martin Ratio Rank: 8

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.

MLAAX vs. MKHCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MainStay Winslow Large Cap Growth Fund (MLAAX) and MainStay MacKay High Yield Corporate Bond Fund (MKHCX). 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.

	MLAAX	MKHCX	Difference
Sharpe ratio: Return per unit of total volatility	1.03	—	—
Sortino ratio: Return per unit of downside risk	1.48	—	—
Omega ratio: Gain probability vs. loss probability	1.18	—	—
Calmar ratio: Return relative to maximum drawdown	0.83	—	—
Martin ratio: Return relative to average drawdown	2.42	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MLAAX	MKHCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.03	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.51	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.67	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.23	—	—

Drawdowns

Drawdown Indicators

	MLAAX	MKHCX	Difference
Max Drawdown Largest peak-to-trough decline	-83.01%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-20.28%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-35.43%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-39.36%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-39.36%	—	—
Current Drawdown Current decline from peak	-4.07%	—	—
Average Drawdown Average peak-to-trough decline	-38.81%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	6.94%	—	—

Volatility

Volatility by Period

	MLAAX	MKHCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	3.68%	—	—
Volatility (6M) Calculated over the trailing 6-month period	12.30%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	16.41%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.56%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.71%	—	—

MLAAX vs. MKHCX - Expense Ratio Comparison

MLAAX has a 0.93% expense ratio, which is lower than MKHCX's 1.83% expense ratio.

Dividends

MLAAX vs. MKHCX - Dividend Comparison

MLAAX's dividend yield for the trailing twelve months is around 22.94%, while MKHCX has not paid dividends to shareholders.

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%
MLAAX MainStay Winslow Large Cap Growth Fund	22.94%	24.37%	22.54%	10.59%	14.95%	26.64%	5.40%	11.55%	23.59%	17.20%	13.18%	13.61%

Frequently Asked Questions

Can I hold both MLAAX and MKHCX in my portfolio?

MLAAX and MKHCX have a correlation of 0.30, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.