MSPIX vs. MUBFX

Last updated Jun 4, 2026

MSPIX (MainStay S&P 500 Index Fund) and MUBFX (MainStay WMC Value Fund) are both mutual funds - MSPIX is a Large Cap Blend Equities fund managed by New York Life, while MUBFX is a Large Cap Value Equities fund managed by New York Life. Over the past 10 years, MSPIX returned 15.38%/yr vs 12.94%/yr for MUBFX. Their correlation of 0.90 suggests significant overlap in exposure. MSPIX charges 0.25%/yr vs 0.70%/yr for MUBFX.

Performance

MSPIX vs. MUBFX - Performance Comparison

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

Returns By Period

In the year-to-date period, MSPIX achieves a 11.58% return, which is significantly higher than MUBFX's 7.80% return. Over the past 10 years, MSPIX has outperformed MUBFX with an annualized return of 15.38%, while MUBFX has yielded a comparatively lower 12.94% annualized return.

MSPIX

• 1D: 0.13%
• 1M: 5.77%
• YTD: 11.58%
• 6M: 11.58%
• 1Y: 28.63%
• 3Y*: 22.42%
• 5Y*: 14.00%
• 10Y*: 15.38%

MUBFX

• 1D: 0.22%
• 1M: 1.64%
• YTD: 7.80%
• 6M: 8.78%
• 1Y: 20.73%
• 3Y*: 14.88%
• 5Y*: 9.34%
• 10Y*: 12.94%

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

MSPIX vs. MUBFX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MSPIX MainStay S&P 500 Index Fund	11.58%	17.55%	24.31%	26.29%	-18.33%	28.46%	18.14%	31.02%	-4.47%	21.38%
MUBFX MainStay WMC Value Fund	7.80%	14.74%	10.72%	9.62%	-4.54%	28.60%	13.62%	31.67%	-6.89%	22.71%

Correlation

The correlation between MSPIX and MUBFX is 0.67, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.67
Correlation (3Y) Calculated over the trailing 3-year period	0.71
Correlation (5Y) Calculated over the trailing 5-year period	0.81
Correlation (10Y) Calculated over the trailing 10-year period	0.88
Correlation (All Time) Calculated using the full available price history since Jan 2, 1991	0.90

Over the past year, the correlation between MSPIX and MUBFX has dropped to 0.67 - well below their long-term average of 0.90, suggesting their price drivers have been diverging.

Return for Risk

MSPIX vs. MUBFX — Risk / Return Rank

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

MSPIX

MSPIX Risk / Return Rank: 72
MSPIX Sharpe Ratio Rank: 74
MSPIX Sortino Ratio Rank: 66
MSPIX Omega Ratio Rank: 66
MSPIX Calmar Ratio Rank: 73
MSPIX Martin Ratio Rank: 82

MUBFX

MUBFX Risk / Return Rank: 53
MUBFX Sharpe Ratio Rank: 47
MUBFX Sortino Ratio Rank: 46
MUBFX Omega Ratio Rank: 44
MUBFX Calmar Ratio Rank: 68
MUBFX Martin Ratio Rank: 62

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. MUBFX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MainStay S&P 500 Index Fund (MSPIX) and MainStay WMC Value Fund (MUBFX). 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	MUBFX	Difference
Sharpe ratio Return per unit of total volatility	2.50	2.02	+0.48
Sortino ratio Return per unit of downside risk	3.40	2.85	+0.54
Omega ratio Gain probability vs. loss probability	1.45	1.36	+0.09
Calmar ratio Return relative to maximum drawdown	3.32	3.20	+0.12
Martin ratio Return relative to average drawdown	15.46	12.19	+3.27
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MSPIX vs. MUBFX - Sharpe Ratio Comparison

The current MSPIX Sharpe Ratio is 2.50, which is comparable to the MUBFX Sharpe Ratio of 2.02. The chart below compares the historical Sharpe Ratios of MSPIX and MUBFX, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MSPIX	MUBFX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.50	2.02	+0.48
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.83	0.63	+0.20
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.85	0.73	+0.13
Sharpe Ratio (All Time) Calculated using the full available price history	0.61	0.64	-0.03

Drawdowns

MSPIX vs. MUBFX - Drawdown Comparison

The maximum MSPIX drawdown since its inception was -55.30%, roughly equal to the maximum MUBFX drawdown of -53.31%. Use the drawdown chart below to compare losses from any high point for MSPIX and MUBFX.

Drawdown Indicators

	MSPIX	MUBFX	Difference
Max Drawdown Largest peak-to-trough decline	-55.30%	-53.31%	-1.99%
Max Drawdown (1Y) Largest decline over 1 year	-8.93%	-6.67%	-2.26%
Max Drawdown (3Y) Largest decline over 3 years	-18.76%	-14.19%	-4.57%
Max Drawdown (5Y) Largest decline over 5 years	-24.64%	-15.61%	-9.03%
Max Drawdown (10Y) Largest decline over 10 years	-33.78%	-39.31%	+5.53%
Current Drawdown Current decline from peak	0.00%	0.00%	0.00%
Average Drawdown Average peak-to-trough decline	-8.70%	-6.17%	-2.53%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.91%	1.75%	+0.16%

Volatility

MSPIX vs. MUBFX - Volatility Comparison

MainStay S&P 500 Index Fund (MSPIX) has a higher volatility of 2.82% compared to MainStay WMC Value Fund (MUBFX) at 2.20%. This indicates that MSPIX's price experiences larger fluctuations and is considered to be riskier than MUBFX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MSPIX	MUBFX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.82%	2.20%	+0.62%
Volatility (6M) Calculated over the trailing 6-month period	8.98%	7.72%	+1.26%
Volatility (1Y) Calculated over the trailing 1-year period	11.87%	10.60%	+1.27%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	16.91%	14.80%	+2.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	18.08%	17.91%	+0.17%

MSPIX vs. MUBFX - Expense Ratio Comparison

MSPIX has a 0.25% expense ratio, which is lower than MUBFX's 0.70% expense ratio.

Dividends

MSPIX vs. MUBFX - Dividend Comparison

MSPIX's dividend yield for the trailing twelve months is around 1.12%, less than MUBFX's 6.85% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSPIX MainStay S&P 500 Index Fund	1.12%	1.25%	5.31%	4.17%	10.37%	4.57%	8.86%	17.41%	14.61%	15.26%	9.79%	5.75%
MUBFX MainStay WMC Value Fund	6.85%	7.38%	5.24%	4.49%	5.82%	81.14%	3.79%	8.43%	11.90%	11.15%	2.53%	19.99%

Frequently Asked Questions

Can I hold both MSPIX and MUBFX in my portfolio?

MSPIX and MUBFX have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MSPIX or MUBFX?

MSPIX has higher volatility (2.82%) compared to MUBFX (2.20%). In terms of maximum drawdown, MSPIX dropped -55.30% vs MUBFX's -53.31%.

Which has better risk-adjusted returns?

MSPIX currently has the higher Sharpe Ratio (2.50 vs 2.02), 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.