MMHVX vs. RWMIX
Compare and contrast key facts about MainStay MacKay High Yield Municipal Bond Fund (MMHVX) and Redwood Managed Municipal Income Fund (RWMIX).
MMHVX is managed by MainStay. It was launched on Mar 30, 2010. RWMIX is managed by Redwood. It was launched on Mar 8, 2017.
Performance
MMHVX vs. RWMIX - Performance Comparison
Loading graphics...
MMHVX vs. RWMIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MMHVX MainStay MacKay High Yield Municipal Bond Fund | -0.22% | 4.27% | 4.24% | 8.60% | -14.42% | 6.12% | 5.18% | 9.18% | 4.06% | 1.79% |
RWMIX Redwood Managed Municipal Income Fund | 0.01% | -2.18% | 2.69% | 3.77% | -9.56% | 4.28% | 0.13% | 10.09% | 0.30% | 3.08% |
Returns By Period
In the year-to-date period, MMHVX achieves a -0.22% return, which is significantly lower than RWMIX's 0.01% return.
MMHVX
- 1D
- 0.43%
- 1M
- -2.19%
- YTD
- -0.22%
- 6M
- 1.25%
- 1Y
- 3.27%
- 3Y*
- 4.58%
- 5Y*
- 1.01%
- 10Y*
- 3.18%
RWMIX
- 1D
- 0.00%
- 1M
- -1.59%
- YTD
- 0.01%
- 6M
- 0.93%
- 1Y
- -1.68%
- 3Y*
- 0.91%
- 5Y*
- -0.60%
- 10Y*
- —
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
MMHVX vs. RWMIX - Expense Ratio Comparison
MMHVX has a 0.87% expense ratio, which is lower than RWMIX's 1.00% expense ratio.
Return for Risk
MMHVX vs. RWMIX — Risk / Return Rank
MMHVX
RWMIX
MMHVX vs. RWMIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay MacKay High Yield Municipal Bond Fund (MMHVX) and Redwood Managed Municipal Income Fund (RWMIX). 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.
| MMHVX | RWMIX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 0.57 | -0.32 | +0.89 |
Sortino ratioReturn per unit of downside risk | 0.80 | -0.33 | +1.13 |
Omega ratioGain probability vs. loss probability | 1.16 | 0.90 | +0.26 |
Calmar ratioReturn relative to maximum drawdown | 0.79 | -0.12 | +0.91 |
Martin ratioReturn relative to average drawdown | 2.20 | -0.18 | +2.38 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
Loading graphics...
Sharpe Ratios by Period
| MMHVX | RWMIX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 0.57 | -0.32 | +0.89 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.18 | -0.15 | +0.33 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.60 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 1.02 | 0.37 | +0.65 |
Correlation
The correlation between MMHVX and RWMIX is 0.59, which is considered to be moderate. This suggests that the two assets have some degree of positive relationship in their price movements. Moderate correlation can be acceptable for portfolio diversification, offering a balance between risk and potential returns.
Dividends
MMHVX vs. RWMIX - Dividend Comparison
MMHVX's dividend yield for the trailing twelve months is around 4.04%, more than RWMIX's 3.58% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MMHVX MainStay MacKay High Yield Municipal Bond Fund | 4.04% | 5.31% | 3.98% | 3.28% | 3.47% | 2.71% | 3.32% | 3.83% | 3.91% | 3.92% | 4.20% | 4.40% |
RWMIX Redwood Managed Municipal Income Fund | 3.58% | 2.67% | 4.08% | 2.80% | 1.02% | 6.80% | 2.16% | 3.36% | 2.13% | 2.06% | 0.00% | 0.00% |
Drawdowns
MMHVX vs. RWMIX - Drawdown Comparison
The maximum MMHVX drawdown since its inception was -20.86%, which is greater than RWMIX's maximum drawdown of -12.90%. Use the drawdown chart below to compare losses from any high point for MMHVX and RWMIX.
Loading graphics...
Drawdown Indicators
| MMHVX | RWMIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.86% | -12.90% | -7.96% |
Max Drawdown (1Y)Largest decline over 1 year | -6.27% | -5.56% | -0.71% |
Max Drawdown (5Y)Largest decline over 5 years | -20.86% | -12.90% | -7.96% |
Max Drawdown (10Y)Largest decline over 10 years | -20.86% | — | — |
Current DrawdownCurrent decline from peak | -2.52% | -7.10% | +4.58% |
Average DrawdownAverage peak-to-trough decline | -3.23% | -4.65% | +1.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 2.25% | 3.76% | -1.51% |
Volatility
MMHVX vs. RWMIX - Volatility Comparison
MainStay MacKay High Yield Municipal Bond Fund (MMHVX) has a higher volatility of 1.39% compared to Redwood Managed Municipal Income Fund (RWMIX) at 1.06%. This indicates that MMHVX's price experiences larger fluctuations and is considered to be riskier than RWMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading graphics...
Volatility by Period
| MMHVX | RWMIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.39% | 1.06% | +0.33% |
Volatility (6M)Calculated over the trailing 6-month period | 2.13% | 1.56% | +0.57% |
Volatility (1Y)Calculated over the trailing 1-year period | 6.65% | 3.88% | +2.77% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.61% | 3.92% | +1.69% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.30% | 3.54% | +1.76% |