MSTIX vs. MKHCX
MSTIX (MainStay MacKay Short Term Municipal Fund) and MKHCX (MainStay MacKay High Yield Corporate Bond Fund) are both mutual funds - MSTIX is a Municipal Bonds fund managed by New York Life, while MKHCX is a High Yield Bonds fund managed by New York Life. At a 0.09 correlation, their price movements are largely independent. MSTIX charges 0.40%/yr vs 1.83%/yr for MKHCX.
Performance
MSTIX vs. MKHCX - Performance Comparison
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Returns By Period
MSTIX
- 1D
- 0.00%
- 1M
- 0.70%
- YTD
- 1.10%
- 6M
- 1.38%
- 1Y
- 4.00%
- 3Y*
- 3.58%
- 5Y*
- 1.66%
- 10Y*
- 1.66%
MKHCX
- 1D
- —
- 1M
- —
- YTD
- —
- 6M
- —
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MSTIX vs. MKHCX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MSTIX MainStay MacKay Short Term Municipal Fund | 1.10% | 4.69% | 2.41% | 3.70% | -3.33% | 0.43% | 2.55% | 2.53% | 1.81% | 1.29% |
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% |
Correlation
The correlation between MSTIX and MKHCX is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (3Y) Calculated over the trailing 3-year period | 0.35 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.31 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.22 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 1990 | 0.09 |
The correlation between MSTIX and MKHCX shifts across timeframes, from 0.09 (all time) to 0.35 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MSTIX vs. MKHCX — Risk / Return Rank
MSTIX
MKHCX
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MSTIX vs. MKHCX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay MacKay Short Term Municipal Fund (MSTIX) 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.
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.
| MSTIX | MKHCX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 2.00 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | — | — |
| Martin ratioReturn relative to average drawdown | 9.83 | — | — |
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Drawdowns
MSTIX vs. MKHCX - Drawdown Comparison
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Drawdown Indicators
| MSTIX | MKHCX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.99% | — | — |
Max Drawdown (1Y)Largest decline over 1 year | -1.38% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -1.83% | — | — |
Max Drawdown (5Y)Largest decline over 5 years | -5.62% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -5.62% | — | — |
Current DrawdownCurrent decline from peak | -0.26% | — | — |
Average DrawdownAverage peak-to-trough decline | -0.54% | — | — |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | — | — |
Volatility
MSTIX vs. MKHCX - Volatility Comparison
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Volatility by Period
| MSTIX | MKHCX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.49% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.17% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 1.51% | — | — |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.83% | — | — |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.58% | — | — |
MSTIX vs. MKHCX - Expense Ratio Comparison
MSTIX has a 0.40% expense ratio, which is lower than MKHCX's 1.83% expense ratio.
Dividends
MSTIX vs. MKHCX - Dividend Comparison
MSTIX's dividend yield for the trailing twelve months is around 3.28%, while MKHCX has not paid dividends to shareholders.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
MSTIX MainStay MacKay Short Term Municipal Fund | 3.28% | 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
MSTIX and MKHCX have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
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