MMD vs. EPLCX
MMD (NYLI MacKay DefinedTerm Muni Opportunities Fund) and EPLCX (MainStay Epoch U.S. Equity Yield Fund) are both mutual funds - MMD is a Municipal Bonds fund managed by New York Life, while EPLCX is a Large Cap Value Equities fund managed by New York Life. Over the past 10 years, MMD returned 1.97%/yr vs 10.99%/yr for EPLCX. Their 0.15 correlation means their historical movements had little consistent relationship. MMD charges 0.03%/yr vs 0.73%/yr for EPLCX.
Performance
MMD vs. EPLCX - Performance Comparison
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Returns By Period
In the year-to-date period, MMD achieves a 3.43% return, which is significantly lower than EPLCX's 17.51% return. Over the past 10 years, MMD has underperformed EPLCX with an annualized return of 1.97%, while EPLCX has yielded a comparatively higher 10.99% annualized return.
MMD
- 1D
- -0.40%
- 1M
- -3.13%
- 6M
- -1.83%
- YTD
- 3.43%
- 1Y
- 7.02%
- 3Y*
- 0.57%
- 5Y*
- -3.35%
- 10Y*
- 1.97%
- ALL TIME*
- 3.60%
EPLCX
- 1D
- 0.08%
- 1M
- 1.27%
- 6M
- 12.81%
- YTD
- 17.51%
- 1Y
- 26.70%
- 3Y*
- 17.98%
- 5Y*
- 12.43%
- 10Y*
- 10.99%
- ALL TIME*
- 12.66%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $546.99K | $621.44K | $759.98K |
MMD vs. EPLCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MMD NYLI MacKay DefinedTerm Muni Opportunities Fund | 3.43% | 4.54% | -3.99% | 6.48% | -21.94% | 4.74% | 8.78% | 13.25% | 3.91% | 14.50% |
EPLCX MainStay Epoch U.S. Equity Yield Fund | 17.51% | 14.03% | 18.42% | 8.83% | -2.56% | 22.98% | 0.24% | 23.98% | -5.37% | 16.91% |
Correlation
The correlation between MMD and EPLCX is 0.21, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.21 |
Correlation (3Y) Balances recent behavior with more history. | 0.26 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.20 |
Correlation (10Y) Provides a long-term view across more market conditions. | 0.19 |
Correlation (All Time) Calculated using the full available price history since Aug 3, 2012 | 0.15 |
The correlation between MMD and EPLCX shifts across timeframes, from 0.15 (all time) to 0.26 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MMD vs. EPLCX — Risk / Return Rank
MMD
EPLCX
MMD vs. EPLCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NYLI MacKay DefinedTerm Muni Opportunities Fund (MMD) and MainStay Epoch U.S. Equity Yield Fund (EPLCX). 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.
| MMD | EPLCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -1.62 | ||
| Sortino ratioReturn per unit of downside risk | -2.19 | ||
| Omega ratioGain probability vs. loss probability | 1.17 | 1.45 | -0.29 |
| Calmar ratioReturn relative to maximum drawdown | 1.03 | 3.92 | -2.89 |
| Martin ratioReturn relative to average drawdown | 3.19 | 15.81 | -12.62 |
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Drawdowns
MMD vs. EPLCX - Drawdown Comparison
The maximum MMD drawdown since its inception was -30.12%, smaller than the maximum EPLCX drawdown of -35.85%. Use the drawdown chart below to compare losses from any high point for MMD and EPLCX.
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Drawdown Indicators
| MMD | EPLCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -30.12% | -35.85% | +5.73% |
Max Drawdown (1Y)Largest decline over 1 year | -7.41% | -6.37% | -1.04% |
Max Drawdown (3Y)Largest decline over 3 years | -14.99% | -14.25% | -0.74% |
Max Drawdown (5Y)Largest decline over 5 years | -30.12% | -16.12% | -14.00% |
Max Drawdown (10Y)Largest decline over 10 years | -30.12% | -35.85% | +5.73% |
Current DrawdownCurrent decline from peak | -17.22% | -1.46% | -15.76% |
Average DrawdownAverage peak-to-trough decline | -9.22% | -3.51% | -5.71% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.39% | 1.59% | +0.80% |
Volatility
MMD vs. EPLCX - Volatility Comparison
The current volatility for NYLI MacKay DefinedTerm Muni Opportunities Fund (MMD) is 1.81%, while MainStay Epoch U.S. Equity Yield Fund (EPLCX) has a volatility of 2.78%. This indicates that MMD experiences smaller price fluctuations and is considered to be less risky than EPLCX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MMD | EPLCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.81% | 2.78% | -0.97% |
Volatility (6M)Calculated over the trailing 6-month period | 6.85% | 7.55% | -0.70% |
Volatility (1Y)Calculated over the trailing 1-year period | 8.61% | 9.97% | -1.36% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 13.33% | 13.45% | -0.12% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 13.91% | 15.65% | -1.74% |
MMD vs. EPLCX - Expense Ratio Comparison
MMD has a 0.03% expense ratio, which is lower than EPLCX's 0.73% expense ratio.
Dividends
MMD vs. EPLCX - Dividend Comparison
MMD's dividend yield for the trailing twelve months is around 5.13%, less than EPLCX's 6.25% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
EPLCX MainStay Epoch U.S. Equity Yield Fund | 6.25% | 7.30% | 10.72% | 5.56% | 3.83% | 1.90% | 2.36% | 4.00% | 5.75% | 5.55% | 1.98% | 6.59% |
MMD NYLI MacKay DefinedTerm Muni Opportunities Fund | 5.13% | 4.84% | 4.82% | 5.26% | 6.35% | 4.68% | 4.68% | 4.85% | 5.38% | 5.45% | 6.16% | 6.25% |
Frequently Asked Questions
MMD and EPLCX have a correlation of 0.21, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
EPLCX has higher volatility (2.78%) compared to MMD (1.81%). In terms of maximum drawdown, MMD dropped -30.12% vs EPLCX's -35.85%.
EPLCX currently has the higher Sharpe Ratio (2.51 vs 0.89), 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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