MNHAX vs. MHCAX
Compare and contrast key facts about Manning & Napier High Yield Bond I (MNHAX) and MainStay MacKay High Yield Corporate Bond Fund Class A (MHCAX).
MNHAX is managed by Manning & Napier. It was launched on Aug 1, 2012. MHCAX is managed by New York Life. It was launched on May 1, 1986.
Performance
MNHAX vs. MHCAX - Performance Comparison
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MNHAX vs. MHCAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MNHAX Manning & Napier High Yield Bond I | -1.05% | 6.90% | 9.29% | 13.49% | -7.38% | 10.27% | 6.58% | 14.25% | -0.98% | 8.68% |
MHCAX MainStay MacKay High Yield Corporate Bond Fund Class A | -0.62% | 6.44% | 6.90% | 11.27% | 42.57% | 5.10% | 4.82% | 12.76% | -1.92% | 6.54% |
Returns By Period
In the year-to-date period, MNHAX achieves a -1.05% return, which is significantly lower than MHCAX's -0.62% return. Over the past 10 years, MNHAX has underperformed MHCAX with an annualized return of 6.80%, while MHCAX has yielded a comparatively higher 10.09% annualized return.
MNHAX
- 1D
- 0.63%
- 1M
- -1.75%
- YTD
- -1.05%
- 6M
- 0.13%
- 1Y
- 4.72%
- 3Y*
- 8.65%
- 5Y*
- 5.44%
- 10Y*
- 6.80%
MHCAX
- 1D
- 0.00%
- 1M
- -1.35%
- YTD
- -0.62%
- 6M
- 0.34%
- 1Y
- 4.66%
- 3Y*
- 6.70%
- 5Y*
- 13.24%
- 10Y*
- 10.09%
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MNHAX vs. MHCAX - Expense Ratio Comparison
MNHAX has a 0.66% expense ratio, which is lower than MHCAX's 0.95% expense ratio.
Return for Risk
MNHAX vs. MHCAX — Risk / Return Rank
MNHAX
MHCAX
MNHAX vs. MHCAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Manning & Napier High Yield Bond I (MNHAX) and MainStay MacKay High Yield Corporate Bond Fund Class A (MHCAX). 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.
| MNHAX | MHCAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.31 | 1.64 | -0.33 |
Sortino ratioReturn per unit of downside risk | 1.70 | 2.19 | -0.49 |
Omega ratioGain probability vs. loss probability | 1.30 | 1.42 | -0.12 |
Calmar ratioReturn relative to maximum drawdown | 1.39 | 1.58 | -0.20 |
Martin ratioReturn relative to average drawdown | 5.43 | 7.50 | -2.07 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| MNHAX | MHCAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.31 | 1.64 | -0.33 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.38 | 0.53 | -0.15 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.64 | 0.56 | +0.08 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.66 | 0.77 | -0.12 |
Correlation
The correlation between MNHAX and MHCAX is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
MNHAX vs. MHCAX - Dividend Comparison
MNHAX's dividend yield for the trailing twelve months is around 6.60%, more than MHCAX's 5.62% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MNHAX Manning & Napier High Yield Bond I | 6.60% | 7.29% | 7.02% | 8.59% | 7.61% | 9.81% | 6.26% | 8.24% | 6.38% | 6.20% | 7.68% | 6.64% |
MHCAX MainStay MacKay High Yield Corporate Bond Fund Class A | 5.62% | 6.06% | 5.90% | 5.56% | 40.91% | 5.00% | 5.52% | 5.58% | 5.94% | 6.20% | 5.69% | 6.72% |
Drawdowns
MNHAX vs. MHCAX - Drawdown Comparison
The maximum MNHAX drawdown since its inception was -20.13%, smaller than the maximum MHCAX drawdown of -29.62%. Use the drawdown chart below to compare losses from any high point for MNHAX and MHCAX.
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Drawdown Indicators
| MNHAX | MHCAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.13% | -29.62% | +9.49% |
Max Drawdown (1Y)Largest decline over 1 year | -3.40% | -2.89% | -0.51% |
Max Drawdown (5Y)Largest decline over 5 years | -20.13% | -11.74% | -8.39% |
Max Drawdown (10Y)Largest decline over 10 years | -20.13% | -18.98% | -1.15% |
Current DrawdownCurrent decline from peak | -13.52% | -1.48% | -12.04% |
Average DrawdownAverage peak-to-trough decline | -3.41% | -2.15% | -1.26% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.87% | 0.61% | +0.26% |
Volatility
MNHAX vs. MHCAX - Volatility Comparison
Manning & Napier High Yield Bond I (MNHAX) has a higher volatility of 1.84% compared to MainStay MacKay High Yield Corporate Bond Fund Class A (MHCAX) at 0.95%. This indicates that MNHAX's price experiences larger fluctuations and is considered to be riskier than MHCAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MNHAX | MHCAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.84% | 0.95% | +0.89% |
Volatility (6M)Calculated over the trailing 6-month period | 2.29% | 1.63% | +0.66% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.79% | 2.99% | +0.80% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 14.41% | 25.35% | -10.94% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 10.69% | 18.23% | -7.54% |