MSOAX vs. MSTIX
MSOAX (MainStay WMC Enduring Capital Fund) and MSTIX (MainStay MacKay Short Term Municipal Fund) are both mutual funds - MSOAX is a Large Cap Blend Equities fund managed by New York Life, while MSTIX is a Municipal Bonds fund managed by New York Life. Over the past 10 years, MSOAX returned 10.67%/yr vs 1.66%/yr for MSTIX. At a correlation of -0.11, they often move in opposite directions. MSOAX charges 0.91%/yr vs 0.40%/yr for MSTIX.
Performance
MSOAX vs. MSTIX - Performance Comparison
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Returns By Period
In the year-to-date period, MSOAX achieves a 5.51% return, which is significantly higher than MSTIX's 1.26% return. Over the past 10 years, MSOAX has outperformed MSTIX with an annualized return of 10.67%, while MSTIX has yielded a comparatively lower 1.66% annualized return.
MSOAX
- 1D
- 0.60%
- 1M
- 2.24%
- 6M
- 1.51%
- YTD
- 5.51%
- 1Y
- 0.12%
- 3Y*
- 8.51%
- 5Y*
- 6.08%
- 10Y*
- 10.67%
MSTIX
- 1D
- 0.00%
- 1M
- 0.26%
- 6M
- 0.93%
- YTD
- 1.26%
- 1Y
- 3.53%
- 3Y*
- 3.58%
- 5Y*
- 1.66%
- 10Y*
- 1.66%
MSOAX vs. MSTIX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSOAX MainStay WMC Enduring Capital Fund | 5.51% | -0.61% | 10.54% | 17.67% | -13.18% | 35.36% | 15.48% | 24.80% | -7.00% | 23.82% |
MSTIX MainStay MacKay Short Term Municipal Fund | 1.26% | 4.69% | 2.41% | 3.70% | -3.33% | 0.43% | 2.55% | 2.53% | 1.81% | 1.29% |
Correlation
The correlation between MSOAX and MSTIX is 0.20, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.20 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.16 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.10 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.05 |
Correlation (All Time) Calculated using the full available price history since May 29, 1998 | -0.11 |
The correlation between MSOAX and MSTIX shifts across timeframes, from -0.11 (all time) to 0.20 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MSOAX vs. MSTIX — Risk / Return Rank
MSOAX
MSTIX
MSOAX vs. MSTIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay WMC Enduring Capital Fund (MSOAX) and MainStay MacKay Short Term Municipal Fund (MSTIX). 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.
| MSOAX | MSTIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -2.47 | ||
| Sortino ratioReturn per unit of downside risk | -4.42 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 1.83 | -0.84 |
| Calmar ratioReturn relative to maximum drawdown | -0.08 | 2.58 | -2.66 |
| Martin ratioReturn relative to average drawdown | -0.16 | 8.61 | -8.77 |
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Drawdowns
MSOAX vs. MSTIX - Drawdown Comparison
The maximum MSOAX drawdown since its inception was -55.16%, which is greater than MSTIX's maximum drawdown of -8.99%. Use the drawdown chart below to compare losses from any high point for MSOAX and MSTIX.
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Drawdown Indicators
| MSOAX | MSTIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -55.16% | -8.99% | -46.17% |
Max Drawdown (1Y)Largest decline over 1 year | -11.43% | -1.38% | -10.05% |
Max Drawdown (3Y)Largest decline over 3 years | -14.69% | -1.83% | -12.86% |
Max Drawdown (5Y)Largest decline over 5 years | -21.27% | -5.62% | -15.65% |
Max Drawdown (10Y)Largest decline over 10 years | -34.01% | -5.62% | -28.39% |
Current DrawdownCurrent decline from peak | -5.30% | -0.11% | -5.19% |
Average DrawdownAverage peak-to-trough decline | -13.26% | -0.54% | -12.72% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 5.66% | 0.41% | +5.25% |
Volatility
MSOAX vs. MSTIX - Volatility Comparison
MainStay WMC Enduring Capital Fund (MSOAX) has a higher volatility of 3.65% compared to MainStay MacKay Short Term Municipal Fund (MSTIX) at 0.36%. This indicates that MSOAX's price experiences larger fluctuations and is considered to be riskier than MSTIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSOAX | MSTIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 3.65% | 0.36% | +3.29% |
Volatility (6M)Calculated over the trailing 6-month period | 9.81% | 1.17% | +8.64% |
Volatility (1Y)Calculated over the trailing 1-year period | 12.89% | 1.49% | +11.40% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 15.91% | 1.83% | +14.08% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 17.75% | 1.58% | +16.17% |
MSOAX vs. MSTIX - Expense Ratio Comparison
MSOAX has a 0.91% expense ratio, which is higher than MSTIX's 0.40% expense ratio.
Dividends
MSOAX vs. MSTIX - Dividend Comparison
MSOAX's dividend yield for the trailing twelve months is around 3.86%, more than MSTIX's 3.26% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSOAX MainStay WMC Enduring Capital Fund | 3.86% | 4.07% | 0.26% | 0.64% | 4.00% | 8.70% | 0.83% | 5.99% | 13.82% | 0.88% | 1.22% | 1.11% |
MSTIX MainStay MacKay Short Term Municipal Fund | 3.26% | 3.38% | 3.14% | 2.85% | 1.38% | 0.85% | 1.37% | 1.76% | 1.48% | 1.28% | 0.87% | 0.82% |
Frequently Asked Questions
MSOAX and MSTIX have a correlation of 0.20, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSOAX has higher volatility (3.65%) compared to MSTIX (0.36%). In terms of maximum drawdown, MSOAX dropped -55.16% vs MSTIX's -8.99%.
MSTIX currently has the higher Sharpe Ratio (2.39 vs -0.07), 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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