MLAAX vs. MSOAX

Last updated Jun 26, 2026

MLAAX (MainStay Winslow Large Cap Growth Fund) and MSOAX (MainStay WMC Enduring Capital Fund) are both mutual funds - MLAAX is a Large Cap Growth Equities fund managed by New York Life, while MSOAX is a Large Cap Blend Equities fund managed by New York Life. Over the past 10 years, MLAAX returned 17.09%/yr vs 11.16%/yr for MSOAX. Their correlation of 0.86 suggests significant overlap in exposure. MLAAX charges 0.93%/yr vs 0.91%/yr for MSOAX.

Performance

MLAAX vs. MSOAX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MainStay Winslow Large Cap Growth Fund (MLAAX) and MainStay WMC Enduring Capital Fund (MSOAX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MLAAX achieves a 2.16% return, which is significantly lower than MSOAX's 4.05% return. Over the past 10 years, MLAAX has outperformed MSOAX with an annualized return of 17.09%, while MSOAX has yielded a comparatively lower 11.16% annualized return.

MLAAX

• 1D: 0.00%
• 1M: -2.07%
• YTD: 2.16%
• 6M: 0.56%
• 1Y: 8.07%
• 3Y*: 20.61%
• 5Y*: 10.42%
• 10Y*: 17.09%

MSOAX

• 1D: 1.48%
• 1M: 4.45%
• YTD: 4.05%
• 6M: 2.77%
• 1Y: 0.24%
• 3Y*: 9.06%
• 5Y*: 6.14%
• 10Y*: 11.16%

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

MLAAX vs. MSOAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLAAX MainStay Winslow Large Cap Growth Fund	2.16%	14.20%	28.95%	43.10%	-31.51%	25.00%	36.95%	33.18%	3.81%	32.19%
MSOAX MainStay WMC Enduring Capital Fund	4.05%	-0.61%	10.54%	17.67%	-13.18%	35.36%	15.48%	24.80%	-7.00%	23.82%

Correlation

The correlation between MLAAX and MSOAX is 0.32, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.32
Correlation (3Y) Calculated over the trailing 3-year period	0.50
Correlation (5Y) Calculated over the trailing 5-year period	0.65
Correlation (10Y) Calculated over the trailing 10-year period	0.74
Correlation (All Time) Calculated using the full available price history since May 29, 1998	0.86

Over the past year, the correlation between MLAAX and MSOAX has dropped to 0.32 - well below their long-term average of 0.86, suggesting their price drivers have been diverging.

Return for Risk

MLAAX vs. MSOAX — Risk / Return Rank

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

MLAAX

MLAAX Risk / Return Rank: 7
MLAAX Sharpe Ratio Rank: 7
MLAAX Sortino Ratio Rank: 7
MLAAX Omega Ratio Rank: 7
MLAAX Calmar Ratio Rank: 6
MLAAX Martin Ratio Rank: 6

MSOAX

MSOAX Risk / Return Rank: 3
MSOAX Sharpe Ratio Rank: 3
MSOAX Sortino Ratio Rank: 3
MSOAX Omega Ratio Rank: 3
MSOAX Calmar Ratio Rank: 3
MSOAX Martin Ratio Rank: 3

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. MSOAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MainStay Winslow Large Cap Growth Fund (MLAAX) and MainStay WMC Enduring Capital Fund (MSOAX). 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.

	MLAAX	MSOAX	Difference
Sharpe ratio: Return per unit of total volatility	0.45	-0.06	+0.51
Sortino ratio: Return per unit of downside risk	0.74	0.01	+0.73
Omega ratio: Gain probability vs. loss probability	1.09	1.00	+0.09
Calmar ratio: Return relative to maximum drawdown	0.40	-0.06	+0.46
Martin ratio: Return relative to average drawdown	1.16	-0.13	+1.29

MLAAX vs. MSOAX - Sharpe Ratio Comparison

The current MLAAX Sharpe Ratio is 0.45, which is higher than the MSOAX Sharpe Ratio of -0.06. The chart below compares the historical Sharpe Ratios of MLAAX and MSOAX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MLAAX vs. MSOAX - Drawdown Comparison

The maximum MLAAX drawdown since its inception was -83.01%, which is greater than MSOAX's maximum drawdown of -55.16%. Use the drawdown chart below to compare losses from any high point for MLAAX and MSOAX.

Drawdown Indicators

	MLAAX	MSOAX	Difference
Max Drawdown Largest peak-to-trough decline	-83.01%	-55.16%	-27.85%
Max Drawdown (1Y) Largest decline over 1 year	-20.28%	-11.43%	-8.85%
Max Drawdown (3Y) Largest decline over 3 years	-35.43%	-14.69%	-20.74%
Max Drawdown (5Y) Largest decline over 5 years	-39.36%	-21.27%	-18.09%
Max Drawdown (10Y) Largest decline over 10 years	-39.36%	-34.01%	-5.35%
Current Drawdown Current decline from peak	-7.76%	-6.61%	-1.15%
Average Drawdown Average peak-to-trough decline	-38.74%	-13.28%	-25.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	6.99%	5.66%	+1.33%

Volatility

MLAAX vs. MSOAX - Volatility Comparison

MainStay Winslow Large Cap Growth Fund (MLAAX) has a higher volatility of 8.29% compared to MainStay WMC Enduring Capital Fund (MSOAX) at 3.72%. This indicates that MLAAX's price experiences larger fluctuations and is considered to be riskier than MSOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLAAX	MSOAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	8.29%	3.72%	+4.57%
Volatility (6M) Calculated over the trailing 6-month period	14.25%	9.79%	+4.46%
Volatility (1Y) Calculated over the trailing 1-year period	17.99%	12.90%	+5.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.78%	15.92%	+9.86%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.79%	17.78%	+8.01%

MLAAX vs. MSOAX - Expense Ratio Comparison

MLAAX has a 0.93% expense ratio, which is higher than MSOAX's 0.91% expense ratio.

Dividends

MLAAX vs. MSOAX - Dividend Comparison

MLAAX's dividend yield for the trailing twelve months is around 23.86%, more than MSOAX's 3.91% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLAAX MainStay Winslow Large Cap Growth Fund	23.86%	24.37%	22.54%	10.59%	14.95%	26.64%	5.40%	11.55%	23.59%	17.20%	13.18%	13.61%
MSOAX MainStay WMC Enduring Capital Fund	3.91%	4.07%	0.26%	0.64%	4.00%	8.70%	0.83%	5.99%	13.82%	0.88%	1.22%	1.11%

Frequently Asked Questions

Can I hold both MLAAX and MSOAX in my portfolio?

MLAAX and MSOAX have a correlation of 0.32, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MLAAX or MSOAX?

MLAAX has higher volatility (8.29%) compared to MSOAX (3.72%). In terms of maximum drawdown, MLAAX dropped -83.01% vs MSOAX's -55.16%.

Which has better risk-adjusted returns?

MLAAX currently has the higher Sharpe Ratio (0.45 vs -0.06), 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.