MSNYX vs. LSMSX
MSNYX (MFS New York Municipal Bond Fund) and LSMSX (Western Asset SMASh Series TF Fund) are both Municipal Bonds funds. Over the past 5 years, MSNYX returned -0.09%/yr vs 0.70%/yr for LSMSX. Their correlation of 0.85 means they have usually moved in the same direction. MSNYX charges 0.83%/yr vs 0.01%/yr for LSMSX.
Performance
MSNYX vs. LSMSX - Performance Comparison
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Returns By Period
In the year-to-date period, MSNYX achieves a 0.67% return, which is significantly lower than LSMSX's 1.12% return.
MSNYX
- 1D
- -0.30%
- 1M
- -2.45%
- 6M
- 0.17%
- YTD
- 0.67%
- 1Y
- 6.21%
- 3Y*
- 3.54%
- 5Y*
- -0.09%
- 10Y*
- 1.66%
- ALL TIME*
- 4.47%
LSMSX
- 1D
- -0.21%
- 1M
- -1.78%
- 6M
- 0.26%
- YTD
- 1.12%
- 1Y
- 6.64%
- 3Y*
- 3.47%
- 5Y*
- 0.70%
- 10Y*
- —
- ALL TIME*
- 2.68%
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $0.00 | $0.00 | $0.00 | |
| $0.00 | $0.00 | $0.00 |
MSNYX vs. LSMSX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSNYX MFS New York Municipal Bond Fund | 0.67% | 4.09% | 2.91% | 6.67% | -12.93% | 2.97% | 3.80% | 7.96% | 0.59% | 5.02% |
LSMSX Western Asset SMASh Series TF Fund | 1.12% | 3.22% | 2.22% | 7.96% | -10.03% | 4.11% | 4.48% | 8.16% | 0.46% | 4.92% |
Correlation
The correlation between MSNYX and LSMSX is 0.83, meaning they have usually moved in the same direction, including during past declines.
| Correlation | |
|---|---|
Correlation (1Y) Focuses on recent behavior, but can change the most. | 0.83 |
Correlation (3Y) Balances recent behavior with more history. | 0.89 |
Correlation (5Y) Shows whether the relationship held over a longer period. | 0.90 |
Correlation (All Time) Calculated using the full available price history since Feb 1, 2017 | 0.85 |
The correlation between MSNYX and LSMSX has been stable across timeframes, ranging from 0.83 to 0.90 - a consistent structural relationship.
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Return for Risk
MSNYX vs. LSMSX — Risk / Return Rank
MSNYX
LSMSX
MSNYX vs. LSMSX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MFS New York Municipal Bond Fund (MSNYX) and Western Asset SMASh Series TF Fund (LSMSX). 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.
| MSNYX | LSMSX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.52 | ||
| Sortino ratioReturn per unit of downside risk | -0.80 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.63 | -0.15 |
| Calmar ratioReturn relative to maximum drawdown | 2.34 | 2.65 | -0.30 |
| Martin ratioReturn relative to average drawdown | 7.96 | 8.88 | -0.92 |
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Drawdowns
MSNYX vs. LSMSX - Drawdown Comparison
The maximum MSNYX drawdown since its inception was -18.43%, which is greater than LSMSX's maximum drawdown of -15.00%. Use the drawdown chart below to compare losses from any high point for MSNYX and LSMSX.
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Drawdown Indicators
| MSNYX | LSMSX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -18.43% | -15.00% | -3.43% |
Max Drawdown (1Y)Largest decline over 1 year | -3.13% | -2.82% | -0.31% |
Max Drawdown (3Y)Largest decline over 3 years | -7.22% | -7.49% | +0.27% |
Max Drawdown (5Y)Largest decline over 5 years | -18.43% | -14.92% | -3.51% |
Max Drawdown (10Y)Largest decline over 10 years | -18.43% | — | — |
Current DrawdownCurrent decline from peak | -2.45% | -1.78% | -0.67% |
Average DrawdownAverage peak-to-trough decline | -2.23% | -2.81% | +0.58% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.92% | 0.84% | +0.08% |
Volatility
MSNYX vs. LSMSX - Volatility Comparison
MFS New York Municipal Bond Fund (MSNYX) has a higher volatility of 1.19% compared to Western Asset SMASh Series TF Fund (LSMSX) at 1.01%. This indicates that MSNYX's price experiences larger fluctuations and is considered to be riskier than LSMSX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSNYX | LSMSX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.19% | 1.01% | +0.18% |
Volatility (6M)Calculated over the trailing 6-month period | 2.82% | 2.28% | +0.54% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.55% | 2.89% | +0.66% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 5.02% | 4.51% | +0.51% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.62% | 4.48% | +0.14% |
MSNYX vs. LSMSX - Expense Ratio Comparison
MSNYX has a 0.83% expense ratio, which is higher than LSMSX's 0.01% expense ratio.
Dividends
MSNYX vs. LSMSX - Dividend Comparison
MSNYX's dividend yield for the trailing twelve months is around 3.29%, less than LSMSX's 3.94% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
LSMSX Western Asset SMASh Series TF Fund | 3.94% | 3.83% | 4.30% | 3.37% | 2.38% | 2.73% | 2.33% | 2.55% | 2.34% | 0.90% | 0.00% | 0.00% |
MSNYX MFS New York Municipal Bond Fund | 3.29% | 4.64% | 3.17% | 2.77% | 2.06% | 2.13% | 2.52% | 3.08% | 3.53% | 3.58% | 3.56% | 3.76% |
Frequently Asked Questions
MSNYX and LSMSX have a correlation of 0.83, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSNYX has higher volatility (1.19%) compared to LSMSX (1.01%). In terms of maximum drawdown, MSNYX dropped -18.43% vs LSMSX's -15.00%.
LSMSX currently has the higher Sharpe Ratio (2.59 vs 2.07), 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.
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