MNOVX vs. MECVX
MNOVX (MainStay MacKay New York Tax Free Opportunities Fund) and MECVX (MainStay Epoch Capital Growth Fund) are both mutual funds - MNOVX is a Municipal Bonds fund managed by MainStay, while MECVX is a Global Equities fund managed by MainStay. Over the past 5 years, MNOVX returned 0.68%/yr vs 9.26%/yr for MECVX. At a 0.08 correlation, their price movements are largely independent. MNOVX charges 0.76%/yr vs 1.39%/yr for MECVX.
Performance
MNOVX vs. MECVX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MNOVX achieves a 2.75% return, which is significantly lower than MECVX's 7.62% return.
MNOVX
- 1D
- 0.00%
- 1M
- 2.12%
- YTD
- 2.75%
- 6M
- 3.18%
- 1Y
- 8.70%
- 3Y*
- 4.28%
- 5Y*
- 0.68%
- 10Y*
- 2.12%
MECVX
- 1D
- 0.06%
- 1M
- 1.91%
- YTD
- 7.62%
- 6M
- 6.31%
- 1Y
- 18.49%
- 3Y*
- 14.89%
- 5Y*
- 9.26%
- 10Y*
- —
MNOVX vs. MECVX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MNOVX MainStay MacKay New York Tax Free Opportunities Fund | 2.75% | 4.39% | 2.21% | 6.55% | -12.42% | 3.68% | 5.10% | 7.59% | 1.92% | 5.64% |
MECVX MainStay Epoch Capital Growth Fund | 7.62% | 13.10% | 10.52% | 29.35% | -19.63% | 25.00% | 29.21% | 34.56% | -8.92% | 26.65% |
Correlation
The correlation between MNOVX and MECVX is 0.21, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.21 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.16 |
Correlation (All Time) Calculated using the full available price history since Jul 6, 2016 | 0.08 |
The correlation between MNOVX and MECVX shifts across timeframes, from 0.08 (all time) to 0.21 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MNOVX vs. MECVX — Risk / Return Rank
MNOVX
MECVX
MNOVX vs. MECVX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay MacKay New York Tax Free Opportunities Fund (MNOVX) and MainStay Epoch Capital Growth Fund (MECVX). 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.
| MNOVX | MECVX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.18 | ||
| Sortino ratioReturn per unit of downside risk | +2.27 | ||
| Omega ratioGain probability vs. loss probability | 1.69 | 1.26 | +0.43 |
| Calmar ratioReturn relative to maximum drawdown | 2.97 | 1.93 | +1.05 |
| Martin ratioReturn relative to average drawdown | 10.68 | 7.61 | +3.07 |
Loading charts...
Drawdowns
MNOVX vs. MECVX - Drawdown Comparison
The maximum MNOVX drawdown since its inception was -18.57%, smaller than the maximum MECVX drawdown of -30.36%. Use the drawdown chart below to compare losses from any high point for MNOVX and MECVX.
Loading charts...
Drawdown Indicators
| MNOVX | MECVX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.57% | -30.36% | +11.79% |
Max Drawdown (1Y)Largest decline over 1 year | -2.99% | -10.06% | +7.07% |
Max Drawdown (3Y)Largest decline over 3 years | -7.07% | -16.57% | +9.50% |
Max Drawdown (5Y)Largest decline over 5 years | -18.57% | -29.51% | +10.94% |
Max Drawdown (10Y)Largest decline over 10 years | -18.57% | — | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.72% | +0.72% |
Average DrawdownAverage peak-to-trough decline | -3.39% | -4.91% | +1.52% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 2.54% | -1.71% |
Volatility
MNOVX vs. MECVX - Volatility Comparison
The current volatility for MainStay MacKay New York Tax Free Opportunities Fund (MNOVX) is 0.87%, while MainStay Epoch Capital Growth Fund (MECVX) has a volatility of 4.64%. This indicates that MNOVX experiences smaller price fluctuations and is considered to be less risky than MECVX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MNOVX | MECVX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.87% | 4.64% | -3.77% |
Volatility (6M)Calculated over the trailing 6-month period | 2.42% | 10.44% | -8.02% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.34% | 13.02% | -9.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.93% | 16.52% | -11.59% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.79% | 16.84% | -12.05% |
MNOVX vs. MECVX - Expense Ratio Comparison
MNOVX has a 0.76% expense ratio, which is lower than MECVX's 1.39% expense ratio.
Dividends
MNOVX vs. MECVX - Dividend Comparison
MNOVX's dividend yield for the trailing twelve months is around 3.70%, less than MECVX's 7.54% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MECVX MainStay Epoch Capital Growth Fund | 7.54% | 8.12% | 4.30% | 0.32% | 1.01% | 28.36% | 19.49% | 9.87% | 7.96% | 3.31% | 0.22% | 0.00% |
MNOVX MainStay MacKay New York Tax Free Opportunities Fund | 3.70% | 4.85% | 3.65% | 2.92% | 2.92% | 2.24% | 2.68% | 3.17% | 3.35% | 3.42% | 3.47% | 3.53% |
Frequently Asked Questions
MNOVX and MECVX 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.
MECVX has higher volatility (4.64%) compared to MNOVX (0.87%). In terms of maximum drawdown, MNOVX dropped -18.57% vs MECVX's -30.36%.
MNOVX currently has the higher Sharpe Ratio (2.67 vs 1.49), 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.
Find the right allocation for MNOVX and MECVX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer