Correlation
The correlation between MMHVX and VWAHX is -0.04. This indicates that the assets' prices tend to move in opposite directions. Negative correlation can be particularly beneficial for diversification and risk management, as one asset may offset the losses of the other during market fluctuations.
MMHVX vs. VWAHX
Compare and contrast key facts about MainStay MacKay High Yield Municipal Bond Fund (MMHVX) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX).
MMHVX is managed by MainStay. It was launched on Mar 30, 2010. VWAHX is managed by Vanguard. It was launched on Dec 27, 1978.
Scroll down to visually compare performance, riskiness, drawdowns, and other indicators and decide which better suits your portfolio: MMHVX or VWAHX.
Performance
MMHVX vs. VWAHX - Performance Comparison
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Key characteristics
MMHVX:
0.17
VWAHX:
0.27
MMHVX:
0.18
VWAHX:
0.29
MMHVX:
1.03
VWAHX:
1.05
MMHVX:
0.09
VWAHX:
0.18
MMHVX:
0.30
VWAHX:
0.58
MMHVX:
2.46%
VWAHX:
2.09%
MMHVX:
7.06%
VWAHX:
6.24%
MMHVX:
-20.69%
VWAHX:
-17.31%
MMHVX:
-5.38%
VWAHX:
-4.23%
Returns By Period
In the year-to-date period, MMHVX achieves a -3.04% return, which is significantly lower than VWAHX's -2.30% return. Over the past 10 years, MMHVX has outperformed VWAHX with an annualized return of 3.17%, while VWAHX has yielded a comparatively lower 2.85% annualized return.
MMHVX
-3.04%
-1.05%
-4.57%
0.74%
1.53%
2.09%
3.17%
VWAHX
-2.30%
-0.96%
-3.79%
1.28%
1.91%
1.56%
2.85%
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MMHVX vs. VWAHX - Expense Ratio Comparison
MMHVX has a 0.87% expense ratio, which is higher than VWAHX's 0.17% expense ratio.
Risk-Adjusted Performance
MMHVX vs. VWAHX — Risk-Adjusted Performance Rank
MMHVX
VWAHX
MMHVX vs. VWAHX - Risk-Adjusted Performance Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay MacKay High Yield Municipal Bond Fund (MMHVX) and Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX). 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.
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Dividends
MMHVX vs. VWAHX - Dividend Comparison
MMHVX's dividend yield for the trailing twelve months is around 3.78%, more than VWAHX's 3.62% yield.
| TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MMHVX MainStay MacKay High Yield Municipal Bond Fund | 3.78% | 3.96% | 3.95% | 3.72% | 2.71% | 3.32% | 3.55% | 3.91% | 3.89% | 4.19% | 4.05% | 4.26% |
VWAHX Vanguard High-Yield Tax-Exempt Fund Investor Shares | 3.62% | 3.75% | 3.53% | 3.37% | 3.48% | 3.32% | 3.68% | 3.79% | 3.69% | 3.75% | 3.69% | 3.78% |
Drawdowns
MMHVX vs. VWAHX - Drawdown Comparison
The maximum MMHVX drawdown since its inception was -20.69%, which is greater than VWAHX's maximum drawdown of -17.31%. Use the drawdown chart below to compare losses from any high point for MMHVX and VWAHX.
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Volatility
MMHVX vs. VWAHX - Volatility Comparison
MainStay MacKay High Yield Municipal Bond Fund (MMHVX) has a higher volatility of 1.01% compared to Vanguard High-Yield Tax-Exempt Fund Investor Shares (VWAHX) at 0.83%. This indicates that MMHVX's price experiences larger fluctuations and is considered to be riskier than VWAHX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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