MLAAX vs. VRGWX

Last updated Jul 17, 2026

MLAAX (MainStay Winslow Large Cap Growth Fund) and VRGWX (Vanguard Russell 1000 Growth Index Fund Institutional Shares) are both Large Cap Growth Equities funds. Over the past 10 years, MLAAX returned 16.64%/yr vs 18.48%/yr for VRGWX. With a 0.97 correlation, they move nearly in lockstep. MLAAX charges 0.93%/yr vs 0.05%/yr for VRGWX.

Performance

MLAAX vs. VRGWX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MainStay Winslow Large Cap Growth Fund (MLAAX) and Vanguard Russell 1000 Growth Index Fund Institutional Shares (VRGWX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

The year-to-date returns for both stocks are quite close, with MLAAX having a 4.78% return and VRGWX slightly lower at 4.75%. Over the past 10 years, MLAAX has underperformed VRGWX with an annualized return of 16.64%, while VRGWX has yielded a comparatively higher 18.48% annualized return.

MLAAX

• 1D: 0.11%
• 1M: -0.11%
• 6M: 5.86%
• YTD: 4.78%
• 1Y: 8.52%
• 3Y*: 19.84%
• 5Y*: 10.51%
• 10Y*: 16.64%

VRGWX

• 1D: 0.28%
• 1M: 0.24%
• 6M: 5.31%
• YTD: 4.75%
• 1Y: 15.16%
• 3Y*: 21.40%
• 5Y*: 14.07%
• 10Y*: 18.48%

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

MLAAX vs. VRGWX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MLAAX MainStay Winslow Large Cap Growth Fund	4.78%	14.20%	28.95%	43.10%	-31.51%	25.00%	36.95%	33.18%	3.81%	32.19%
VRGWX Vanguard Russell 1000 Growth Index Fund Institutional Shares	4.75%	18.32%	33.25%	42.65%	-29.18%	32.42%	38.38%	36.30%	-1.59%	30.11%

Correlation

The correlation between MLAAX and VRGWX is 0.95, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.95
Correlation (3Y) Calculated over the trailing 3-year period	0.96
Correlation (5Y) Calculated over the trailing 5-year period	0.97
Correlation (10Y) Calculated over the trailing 10-year period	0.97
Correlation (All Time) Calculated using the full available price history since Sep 22, 2010	0.97

The correlation between MLAAX and VRGWX has been stable across timeframes, ranging from 0.95 to 0.97 - a consistent structural relationship.

Return for Risk

MLAAX vs. VRGWX — Risk / Return Rank

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

MLAAX

MLAAX Risk / Return Rank: 8
MLAAX Sharpe Ratio Rank: 8
MLAAX Sortino Ratio Rank: 8
MLAAX Omega Ratio Rank: 8
MLAAX Calmar Ratio Rank: 7
MLAAX Martin Ratio Rank: 7

VRGWX

VRGWX Risk / Return Rank: 17
VRGWX Sharpe Ratio Rank: 19
VRGWX Sortino Ratio Rank: 18
VRGWX Omega Ratio Rank: 18
VRGWX Calmar Ratio Rank: 14
VRGWX Martin Ratio Rank: 15

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. VRGWX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MainStay Winslow Large Cap Growth Fund (MLAAX) and Vanguard Russell 1000 Growth Index Fund Institutional Shares (VRGWX). 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	VRGWX	Difference
Sharpe ratio: Return per unit of total volatility	0.48	0.93	-0.45
Sortino ratio: Return per unit of downside risk	0.77	1.35	-0.58
Omega ratio: Gain probability vs. loss probability	1.09	1.17	-0.07
Calmar ratio: Return relative to maximum drawdown	0.43	0.96	-0.53
Martin ratio: Return relative to average drawdown	1.25	3.05	-1.80

MLAAX vs. VRGWX - Sharpe Ratio Comparison

The current MLAAX Sharpe Ratio is 0.48, which is lower than the VRGWX Sharpe Ratio of 0.93. The chart below compares the historical Sharpe Ratios of MLAAX and VRGWX, 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. VRGWX - Drawdown Comparison

The maximum MLAAX drawdown since its inception was -83.01%, which is greater than VRGWX's maximum drawdown of -32.70%. Use the drawdown chart below to compare losses from any high point for MLAAX and VRGWX.

Drawdown Indicators

	MLAAX	VRGWX	Difference
Max Drawdown Largest peak-to-trough decline	-83.01%	-32.70%	-50.31%
Max Drawdown (1Y) Largest decline over 1 year	-20.28%	-16.19%	-4.09%
Max Drawdown (3Y) Largest decline over 3 years	-35.43%	-23.44%	-11.99%
Max Drawdown (5Y) Largest decline over 5 years	-39.36%	-32.70%	-6.66%
Max Drawdown (10Y) Largest decline over 10 years	-39.36%	-32.70%	-6.66%
Current Drawdown Current decline from peak	-5.40%	-3.90%	-1.50%
Average Drawdown Average peak-to-trough decline	-38.68%	-4.88%	-33.80%
Ulcer Index Depth and duration of drawdowns from previous peaks	7.01%	5.11%	+1.90%

Volatility

MLAAX vs. VRGWX - Volatility Comparison

MainStay Winslow Large Cap Growth Fund (MLAAX) has a higher volatility of 7.66% compared to Vanguard Russell 1000 Growth Index Fund Institutional Shares (VRGWX) at 6.45%. This indicates that MLAAX's price experiences larger fluctuations and is considered to be riskier than VRGWX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MLAAX	VRGWX	Difference
Volatility (1M) Calculated over the trailing 1-month period	7.66%	6.45%	+1.21%
Volatility (6M) Calculated over the trailing 6-month period	14.99%	13.48%	+1.51%
Volatility (1Y) Calculated over the trailing 1-year period	18.49%	16.78%	+1.71%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	25.87%	21.85%	+4.02%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	25.81%	21.23%	+4.58%

MLAAX vs. VRGWX - Expense Ratio Comparison

MLAAX has a 0.93% expense ratio, which is higher than VRGWX's 0.05% expense ratio.

Dividends

MLAAX vs. VRGWX - Dividend Comparison

MLAAX's dividend yield for the trailing twelve months is around 23.26%, more than VRGWX's 0.47% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MLAAX MainStay Winslow Large Cap Growth Fund	23.26%	24.37%	22.54%	10.59%	14.95%	26.64%	5.40%	11.55%	23.59%	17.20%	13.18%	13.61%
VRGWX Vanguard Russell 1000 Growth Index Fund Institutional Shares	0.47%	0.35%	0.56%	0.71%	0.99%	4.18%	0.77%	1.03%	1.22%	1.22%	1.52%	1.51%

Frequently Asked Questions

Can I hold both MLAAX and VRGWX in my portfolio?

With a correlation of 0.95, MLAAX and VRGWX 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.

Which is riskier, MLAAX or VRGWX?

MLAAX has higher volatility (7.66%) compared to VRGWX (6.45%). In terms of maximum drawdown, MLAAX dropped -83.01% vs VRGWX's -32.70%.

Which has better risk-adjusted returns?

VRGWX currently has the higher Sharpe Ratio (0.93 vs 0.48), 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.