MMRIX vs. MTMIX

Last updated Jun 5, 2026

MMRIX (MainStay Moderate Allocation Fund) and MTMIX (MainStay MacKay Total Return Bond Fund) are both mutual funds - MMRIX is a Diversified Portfolio fund managed by New York Life, while MTMIX is a Intermediate Core-Plus Bond fund managed by New York Life. Over the past 10 years, MMRIX returned 7.20%/yr vs 2.51%/yr for MTMIX. At a 0.02 correlation, their price movements are largely independent. MMRIX charges 0.09%/yr vs 0.45%/yr for MTMIX.

Performance

MMRIX vs. MTMIX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MainStay Moderate Allocation Fund (MMRIX) and MainStay MacKay Total Return Bond Fund (MTMIX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MMRIX achieves a 7.88% return, which is significantly higher than MTMIX's 0.59% return. Over the past 10 years, MMRIX has outperformed MTMIX with an annualized return of 7.20%, while MTMIX has yielded a comparatively lower 2.51% annualized return.

MMRIX

• 1D: -0.39%
• 1M: 2.52%
• YTD: 7.88%
• 6M: 8.14%
• 1Y: 17.06%
• 3Y*: 12.25%
• 5Y*: 5.89%
• 10Y*: 7.20%

MTMIX

• 1D: -0.22%
• 1M: 0.09%
• YTD: 0.59%
• 6M: 0.67%
• 1Y: 4.87%
• 3Y*: 6.02%
• 5Y*: 0.91%
• 10Y*: 2.51%

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

MMRIX vs. MTMIX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MMRIX MainStay Moderate Allocation Fund	7.88%	11.38%	8.84%	13.65%	-13.76%	12.21%	13.01%	18.20%	-8.86%	12.11%
MTMIX MainStay MacKay Total Return Bond Fund	0.59%	7.83%	4.76%	7.92%	-15.29%	-0.81%	9.72%	9.38%	-1.22%	4.64%

Correlation

The correlation between MMRIX and MTMIX is 0.43, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.43
Correlation (3Y) Calculated over the trailing 3-year period	0.41
Correlation (5Y) Calculated over the trailing 5-year period	0.33
Correlation (10Y) Calculated over the trailing 10-year period	0.18
Correlation (All Time) Calculated using the full available price history since Apr 5, 2005	0.02

Over the past year, MMRIX and MTMIX have become more correlated (0.43) than their long-term average of 0.02, meaning their price movements have been converging.

Return for Risk

MMRIX vs. MTMIX — Risk / Return Rank

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

MMRIX

MMRIX Risk / Return Rank: 59
MMRIX Sharpe Ratio Rank: 59
MMRIX Sortino Ratio Rank: 58
MMRIX Omega Ratio Rank: 59
MMRIX Calmar Ratio Rank: 54
MMRIX Martin Ratio Rank: 64

MTMIX

MTMIX Risk / Return Rank: 27
MTMIX Sharpe Ratio Rank: 26
MTMIX Sortino Ratio Rank: 27
MTMIX Omega Ratio Rank: 26
MTMIX Calmar Ratio Rank: 31
MTMIX Martin Ratio Rank: 26

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.

MMRIX vs. MTMIX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MainStay Moderate Allocation Fund (MMRIX) and MainStay MacKay Total Return Bond Fund (MTMIX). 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.

	MMRIX	MTMIX	Difference
Sharpe ratio: Return per unit of total volatility	2.23	1.42	+0.81
Sortino ratio: Return per unit of downside risk	3.16	2.11	+1.05
Omega ratio: Gain probability vs. loss probability	1.42	1.26	+0.16
Calmar ratio: Return relative to maximum drawdown	2.77	2.04	+0.73
Martin ratio: Return relative to average drawdown	12.29	6.06	+6.23
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MMRIX vs. MTMIX - Sharpe Ratio Comparison

The current MMRIX Sharpe Ratio is 2.23, which is higher than the MTMIX Sharpe Ratio of 1.42. The chart below compares the historical Sharpe Ratios of MMRIX and MTMIX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MMRIX	MTMIX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.23	1.42	+0.81
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.57	0.15	+0.42
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.59	0.50	+0.09
Sharpe Ratio (All Time) Calculated using the full available price history	0.55	1.07	-0.52

Drawdowns

MMRIX vs. MTMIX - Drawdown Comparison

The maximum MMRIX drawdown since its inception was -35.91%, which is greater than MTMIX's maximum drawdown of -20.47%. Use the drawdown chart below to compare losses from any high point for MMRIX and MTMIX.

Drawdown Indicators

	MMRIX	MTMIX	Difference
Max Drawdown Largest peak-to-trough decline	-35.91%	-20.47%	-15.44%
Max Drawdown (1Y) Largest decline over 1 year	-6.40%	-2.70%	-3.70%
Max Drawdown (3Y) Largest decline over 3 years	-12.10%	-6.14%	-5.96%
Max Drawdown (5Y) Largest decline over 5 years	-20.40%	-20.47%	+0.07%
Max Drawdown (10Y) Largest decline over 10 years	-24.34%	-20.47%	-3.87%
Current Drawdown Current decline from peak	-0.39%	-1.54%	+1.15%
Average Drawdown Average peak-to-trough decline	-4.49%	-2.28%	-2.21%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.44%	0.90%	+0.54%

Volatility

MMRIX vs. MTMIX - Volatility Comparison

MainStay Moderate Allocation Fund (MMRIX) has a higher volatility of 2.46% compared to MainStay MacKay Total Return Bond Fund (MTMIX) at 1.27%. This indicates that MMRIX's price experiences larger fluctuations and is considered to be riskier than MTMIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MMRIX	MTMIX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.46%	1.27%	+1.19%
Volatility (6M) Calculated over the trailing 6-month period	6.35%	2.68%	+3.67%
Volatility (1Y) Calculated over the trailing 1-year period	7.95%	3.87%	+4.08%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	10.38%	6.05%	+4.33%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	12.20%	5.00%	+7.20%

MMRIX vs. MTMIX - Expense Ratio Comparison

MMRIX has a 0.09% expense ratio, which is lower than MTMIX's 0.45% expense ratio.

Dividends

MMRIX vs. MTMIX - Dividend Comparison

MMRIX's dividend yield for the trailing twelve months is around 5.11%, more than MTMIX's 4.93% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MMRIX MainStay Moderate Allocation Fund	5.11%	5.51%	6.88%	0.60%	5.92%	9.74%	5.89%	4.16%	7.98%	3.23%	1.73%	5.26%
MTMIX MainStay MacKay Total Return Bond Fund	4.93%	5.01%	5.47%	4.38%	3.89%	5.43%	3.58%	2.84%	2.82%	2.62%	2.98%	3.12%

Frequently Asked Questions

Can I hold both MMRIX and MTMIX in my portfolio?

MMRIX and MTMIX have a correlation of 0.43, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MMRIX or MTMIX?

MMRIX has higher volatility (2.46%) compared to MTMIX (1.27%). In terms of maximum drawdown, MMRIX dropped -35.91% vs MTMIX's -20.47%.

Which has better risk-adjusted returns?

MMRIX currently has the higher Sharpe Ratio (2.23 vs 1.42), 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.