MSTIX vs. MSOAX
MSTIX (MainStay MacKay Short Term Municipal Fund) and MSOAX (MainStay WMC Enduring Capital Fund) are both mutual funds - MSTIX is a Municipal Bonds fund managed by New York Life, while MSOAX is a Large Cap Blend Equities fund managed by New York Life. Over the past 10 years, MSTIX returned 1.66%/yr vs 10.71%/yr for MSOAX. At a correlation of -0.11, they often move in opposite directions. MSTIX charges 0.40%/yr vs 0.91%/yr for MSOAX.
Performance
MSTIX vs. MSOAX - Performance Comparison
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Returns By Period
In the year-to-date period, MSTIX achieves a 1.10% return, which is significantly lower than MSOAX's 2.15% return. Over the past 10 years, MSTIX has underperformed MSOAX with an annualized return of 1.66%, while MSOAX has yielded a comparatively higher 10.71% annualized return.
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%
MSOAX
- 1D
- 0.49%
- 1M
- 2.83%
- YTD
- 2.15%
- 6M
- 0.98%
- 1Y
- -0.65%
- 3Y*
- 7.98%
- 5Y*
- 6.43%
- 10Y*
- 10.71%
MSTIX vs. MSOAX - 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% |
MSOAX MainStay WMC Enduring Capital Fund | 2.15% | -0.61% | 10.54% | 17.67% | -13.18% | 35.36% | 15.48% | 24.80% | -7.00% | 23.82% |
Correlation
The correlation between MSTIX and MSOAX is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.18 |
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 | 0.04 |
Correlation (All Time) Calculated using the full available price history since May 29, 1998 | -0.11 |
The correlation between MSTIX and MSOAX shifts across timeframes, from -0.11 (all time) to 0.18 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
MSTIX vs. MSOAX — Risk / Return Rank
MSTIX
MSOAX
MSTIX vs. MSOAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay MacKay Short Term Municipal Fund (MSTIX) and MainStay WMC Enduring Capital Fund (MSOAX). 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 | MSOAX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +2.72 | ||
| Sortino ratioReturn per unit of downside risk | +5.05 | ||
| Omega ratioGain probability vs. loss probability | 2.00 | 1.00 | +0.99 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | -0.05 | +2.97 |
| Martin ratioReturn relative to average drawdown | 9.83 | -0.10 | +9.92 |
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Drawdowns
MSTIX vs. MSOAX - Drawdown Comparison
The maximum MSTIX drawdown since its inception was -8.99%, smaller than the maximum MSOAX drawdown of -55.16%. Use the drawdown chart below to compare losses from any high point for MSTIX and MSOAX.
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Drawdown Indicators
| MSTIX | MSOAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.99% | -55.16% | +46.17% |
Max Drawdown (1Y)Largest decline over 1 year | -1.38% | -11.43% | +10.05% |
Max Drawdown (3Y)Largest decline over 3 years | -1.83% | -14.69% | +12.86% |
Max Drawdown (5Y)Largest decline over 5 years | -5.62% | -21.27% | +15.65% |
Max Drawdown (10Y)Largest decline over 10 years | -5.62% | -34.01% | +28.39% |
Current DrawdownCurrent decline from peak | -0.26% | -8.31% | +8.05% |
Average DrawdownAverage peak-to-trough decline | -0.54% | -13.28% | +12.74% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 5.64% | -5.23% |
Volatility
MSTIX vs. MSOAX - Volatility Comparison
The current volatility for MainStay MacKay Short Term Municipal Fund (MSTIX) is 0.49%, while MainStay WMC Enduring Capital Fund (MSOAX) has a volatility of 3.56%. This indicates that MSTIX experiences smaller price fluctuations and is considered to be less risky than MSOAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MSTIX | MSOAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.49% | 3.56% | -3.07% |
Volatility (6M)Calculated over the trailing 6-month period | 1.17% | 9.70% | -8.53% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.51% | 12.86% | -11.35% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.83% | 15.92% | -14.09% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.58% | 17.81% | -16.23% |
MSTIX vs. MSOAX - Expense Ratio Comparison
MSTIX has a 0.40% expense ratio, which is lower than MSOAX's 0.91% expense ratio.
Dividends
MSTIX vs. MSOAX - Dividend Comparison
MSTIX's dividend yield for the trailing twelve months is around 3.28%, less than MSOAX's 3.98% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSOAX MainStay WMC Enduring Capital Fund | 3.98% | 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 | 3.28% | 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 MSOAX have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSOAX has higher volatility (3.56%) compared to MSTIX (0.49%). In terms of maximum drawdown, MSTIX dropped -8.99% vs MSOAX's -55.16%.
MSTIX currently has the higher Sharpe Ratio (2.68 vs -0.04), 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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