MSPIX vs. MKHCX

Last updated Apr 1, 2026

Compare and contrast key facts about MainStay S&P 500 Index Fund (MSPIX) and MainStay MacKay High Yield Corporate Bond Fund (MKHCX).

MSPIX is managed by New York Life. It was launched on Jan 2, 1991. MKHCX is managed by New York Life. It was launched on May 1, 1986.

Performance

MSPIX vs. MKHCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in MainStay S&P 500 Index Fund (MSPIX) and MainStay MacKay High Yield Corporate Bond Fund (MKHCX). The values are adjusted to include any dividend payments, if applicable.

MSPIX vs. MKHCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MSPIX MainStay S&P 500 Index Fund	-7.11%	17.55%	24.31%	26.29%	-18.33%	28.46%	18.14%	31.02%	-4.47%	21.38%
MKHCX MainStay MacKay High Yield Corporate Bond Fund	0.00%	1.00%	5.72%	10.54%	-9.09%	4.07%	4.14%	11.68%	-2.55%	5.69%

Returns By Period

MSPIX

• 1D: -0.39%
• 1M: -7.68%
• YTD: -7.11%
• 6M: -4.72%
• 1Y: 14.15%
• 3Y*: 16.86%
• 5Y*: 11.13%
• 10Y*: 13.46%

MKHCX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MSPIX vs. MKHCX - Expense Ratio Comparison

MSPIX has a 0.25% expense ratio, which is lower than MKHCX's 1.83% expense ratio.

MKHCX

MainStay MacKay High Yield Corporate Bond Fund

MSPIX

MainStay S&P 500 Index Fund

Return for Risk

MSPIX vs. MKHCX — Risk / Return Rank

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

MSPIX

MSPIX Risk / Return Rank: 42
MSPIX Sharpe Ratio Rank: 39
MSPIX Sortino Ratio Rank: 42
MSPIX Omega Ratio Rank: 46
MSPIX Calmar Ratio Rank: 36
MSPIX Martin Ratio Rank: 47

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.

MSPIX vs. MKHCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MainStay S&P 500 Index Fund (MSPIX) and MainStay MacKay High Yield Corporate Bond Fund (MKHCX). 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.

	MSPIX	MKHCX	Difference
Sharpe ratio Return per unit of total volatility	0.82	—	—
Sortino ratio Return per unit of downside risk	1.28	—	—
Omega ratio Gain probability vs. loss probability	1.19	—	—
Calmar ratio Return relative to maximum drawdown	0.98	—	—
Martin ratio Return relative to average drawdown	4.73	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MSPIX	MKHCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.82	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.66	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.75	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.58	—	—

Correlation

The correlation between MSPIX and MKHCX is 0.31, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.

Dividends

MSPIX vs. MKHCX - Dividend Comparison

MSPIX's dividend yield for the trailing twelve months is around 1.34%, while MKHCX has not paid dividends to shareholders.

	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSPIX MainStay S&P 500 Index Fund	1.34%	1.25%	5.31%	4.17%	10.37%	4.57%	8.86%	17.41%	14.61%	15.26%	9.79%	5.75%
MKHCX MainStay MacKay High Yield Corporate Bond Fund	0.00%	0.42%	4.98%	4.69%	4.21%	4.19%	4.72%	4.78%	5.09%	5.39%	5.40%	5.85%

Drawdowns

Drawdown Indicators

	MSPIX	MKHCX	Difference
Max Drawdown Largest peak-to-trough decline	-55.30%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-12.11%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-24.64%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-33.78%	—	—
Current Drawdown Current decline from peak	-8.93%	—	—
Average Drawdown Average peak-to-trough decline	-8.74%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	2.57%	—	—

Volatility

Volatility by Period

	MSPIX	MKHCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	4.24%	—	—
Volatility (6M) Calculated over the trailing 6-month period	9.10%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	18.13%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.87%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.04%	—	—