MLAAX vs. VIIIX
MLAAX (MainStay Winslow Large Cap Growth Fund) and VIIIX (Vanguard Institutional Index Fund Institutional Plus Shares) are both mutual funds - MLAAX is a Large Cap Growth Equities fund managed by New York Life, while VIIIX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, MLAAX returned 15.86%/yr vs 15.07%/yr for VIIIX. Their correlation of 0.91 means they have usually moved in the same direction. MLAAX charges 0.93%/yr vs 0.02%/yr for VIIIX.
Performance
MLAAX vs. VIIIX - Performance Comparison
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Returns By Period
In the year-to-date period, MLAAX achieves a -0.57% return, which is significantly lower than VIIIX's 9.35% return. Both investments have delivered pretty close results over the past 10 years, with MLAAX having a 15.86% annualized return and VIIIX not far behind at 15.07%.
MLAAX
- 1D
- 2.82%
- 1M
- -3.21%
- 6M
- 2.10%
- YTD
- -0.57%
- 1Y
- 3.77%
- 3Y*
- 17.33%
- 5Y*
- 8.73%
- 10Y*
- 15.86%
- ALL TIME*
- 5.58%
VIIIX
- 1D
- 1.66%
- 1M
- -0.56%
- 6M
- 7.79%
- YTD
- 9.35%
- 1Y
- 20.63%
- 3Y*
- 19.44%
- 5Y*
- 12.83%
- 10Y*
- 15.07%
- ALL TIME*
- 9.41%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MLAAX vs. VIIIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MLAAX MainStay Winslow Large Cap Growth Fund | -0.57% | 14.20% | 28.95% | 43.10% | -31.51% | 25.00% | 36.95% | 33.18% | 3.81% | 32.19% |
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares | 9.35% | 17.87% | 26.29% | 25.79% | -18.14% | 28.69% | 18.41% | 31.48% | -4.41% | 21.82% |
Correlation
The correlation between MLAAX and VIIIX is 0.91, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.91 |
Correlation (3Y) Balances recent behavior with more history. | 0.90 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.92 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Jul 7, 1997 | 0.91 |
The correlation between MLAAX and VIIIX has been stable across timeframes, ranging from 0.90 to 0.92 - a consistent structural relationship.
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Return for Risk
MLAAX vs. VIIIX — Risk / Return Rank
MLAAX
VIIIX
MLAAX vs. VIIIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay Winslow Large Cap Growth Fund (MLAAX) and Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX). 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 | VIIIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.34 | ||
| Sortino ratioReturn per unit of downside risk | -1.74 | ||
| Omega ratioGain probability vs. loss probability | 1.03 | 1.26 | -0.23 |
| Calmar ratioReturn relative to maximum drawdown | 0.09 | 2.06 | -1.98 |
| Martin ratioReturn relative to average drawdown | 0.24 | 8.86 | -8.61 |
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Drawdowns
MLAAX vs. VIIIX - Drawdown Comparison
The maximum MLAAX drawdown since its inception was -83.01%, which is greater than VIIIX's maximum drawdown of -55.18%. Use the drawdown chart below to compare losses from any high point for MLAAX and VIIIX.
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Drawdown Indicators
| MLAAX | VIIIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -83.01% | -55.18% | -27.83% |
Max Drawdown (1Y)Largest decline over 1 year | -20.28% | -8.90% | -11.38% |
Max Drawdown (3Y)Largest decline over 3 years | -35.43% | -18.75% | -16.68% |
Max Drawdown (5Y)Largest decline over 5 years | -39.36% | -24.50% | -14.86% |
Max Drawdown (10Y)Largest decline over 10 years | -39.36% | -33.79% | -5.57% |
Current DrawdownCurrent decline from peak | -10.23% | -2.11% | -8.12% |
Average DrawdownAverage peak-to-trough decline | -38.64% | -9.97% | -28.67% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 7.10% | 2.07% | +5.03% |
Volatility
MLAAX vs. VIIIX - Volatility Comparison
MainStay Winslow Large Cap Growth Fund (MLAAX) has a higher volatility of 6.33% compared to Vanguard Institutional Index Fund Institutional Plus Shares (VIIIX) at 3.44%. This indicates that MLAAX's price experiences larger fluctuations and is considered to be riskier than VIIIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MLAAX | VIIIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 6.33% | 3.44% | +2.89% |
Volatility (6M)Calculated over the trailing 6-month period | 15.41% | 10.09% | +5.32% |
Volatility (1Y)Calculated over the trailing 1-year period | 19.05% | 12.86% | +6.19% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 25.92% | 17.01% | +8.91% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 25.85% | 18.07% | +7.78% |
MLAAX vs. VIIIX - Expense Ratio Comparison
MLAAX has a 0.93% expense ratio, which is higher than VIIIX's 0.02% expense ratio.
Dividends
MLAAX vs. VIIIX - Dividend Comparison
MLAAX's dividend yield for the trailing twelve months is around 24.51%, more than VIIIX's 2.51% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MLAAX MainStay Winslow Large Cap Growth Fund | 24.51% | 24.37% | 22.54% | 10.59% | 14.95% | 26.64% | 5.40% | 11.55% | 23.59% | 17.20% | 13.18% | 13.61% |
VIIIX Vanguard Institutional Index Fund Institutional Plus Shares | 2.51% | 2.11% | 3.66% | 2.66% | 3.39% | 4.79% | 3.07% | 2.86% | 2.45% | 1.84% | 2.38% | 2.47% |
Frequently Asked Questions
With a correlation of 0.91, MLAAX and VIIIX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
MLAAX has higher volatility (6.33%) compared to VIIIX (3.44%). In terms of maximum drawdown, MLAAX dropped -83.01% vs VIIIX's -55.18%.
VIIIX currently has the higher Sharpe Ratio (1.43 vs 0.09), 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.
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