MSTIX vs. MSPIX
MSTIX (MainStay MacKay Short Term Municipal Fund) and MSPIX (MainStay S&P 500 Index Fund) are both mutual funds - MSTIX is a Municipal Bonds fund managed by New York Life, while MSPIX is a Large Cap Blend Equities fund managed by New York Life. Over the past 10 years, MSTIX returned 1.66%/yr vs 15.30%/yr for MSPIX. At a correlation of -0.04, they often move in opposite directions. MSTIX charges 0.40%/yr vs 0.25%/yr for MSPIX.
Performance
MSTIX vs. MSPIX - Performance Comparison
Loading charts...
Returns By Period
In the year-to-date period, MSTIX achieves a 1.10% return, which is significantly lower than MSPIX's 10.06% return. Over the past 10 years, MSTIX has underperformed MSPIX with an annualized return of 1.66%, while MSPIX has yielded a comparatively higher 15.30% 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%
MSPIX
- 1D
- 1.09%
- 1M
- 0.45%
- YTD
- 10.06%
- 6M
- 9.56%
- 1Y
- 26.86%
- 3Y*
- 20.65%
- 5Y*
- 13.81%
- 10Y*
- 15.30%
MSTIX vs. MSPIX - 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% |
MSPIX MainStay S&P 500 Index Fund | 10.06% | 17.55% | 24.31% | 26.29% | -18.33% | 28.46% | 18.14% | 31.02% | -4.47% | 21.38% |
Correlation
The correlation between MSTIX and MSPIX is 0.13, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.13 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.13 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Dec 31, 1990 | -0.04 |
The correlation between MSTIX and MSPIX shifts across timeframes, from -0.04 (all time) to 0.13 (1 year), reflecting how their relationship changes across market environments.
Compare stocks, funds, or ETFs
Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.
Return for Risk
MSTIX vs. MSPIX — Risk / Return Rank
MSTIX
MSPIX
MSTIX vs. MSPIX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay MacKay Short Term Municipal Fund (MSTIX) and MainStay S&P 500 Index Fund (MSPIX). 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 | MSPIX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.53 | ||
| Sortino ratioReturn per unit of downside risk | +2.17 | ||
| Omega ratioGain probability vs. loss probability | 2.00 | 1.39 | +0.61 |
| Calmar ratioReturn relative to maximum drawdown | 2.92 | 3.01 | -0.08 |
| Martin ratioReturn relative to average drawdown | 9.83 | 13.54 | -3.71 |
Loading charts...
Drawdowns
MSTIX vs. MSPIX - Drawdown Comparison
The maximum MSTIX drawdown since its inception was -8.99%, smaller than the maximum MSPIX drawdown of -55.30%. Use the drawdown chart below to compare losses from any high point for MSTIX and MSPIX.
Loading charts...
Drawdown Indicators
| MSTIX | MSPIX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -8.99% | -55.30% | +46.31% |
Max Drawdown (1Y)Largest decline over 1 year | -1.38% | -8.93% | +7.55% |
Max Drawdown (3Y)Largest decline over 3 years | -1.83% | -18.76% | +16.93% |
Max Drawdown (5Y)Largest decline over 5 years | -5.62% | -24.64% | +19.02% |
Max Drawdown (10Y)Largest decline over 10 years | -5.62% | -33.78% | +28.16% |
Current DrawdownCurrent decline from peak | -0.26% | -1.36% | +1.10% |
Average DrawdownAverage peak-to-trough decline | -0.54% | -8.69% | +8.15% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.41% | 1.97% | -1.56% |
Volatility
MSTIX vs. MSPIX - Volatility Comparison
The current volatility for MainStay MacKay Short Term Municipal Fund (MSTIX) is 0.49%, while MainStay S&P 500 Index Fund (MSPIX) has a volatility of 4.76%. This indicates that MSTIX experiences smaller price fluctuations and is considered to be less risky than MSPIX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
Loading charts...
Volatility by Period
| MSTIX | MSPIX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.49% | 4.76% | -4.27% |
Volatility (6M)Calculated over the trailing 6-month period | 1.17% | 9.90% | -8.73% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.51% | 12.48% | -10.97% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.83% | 17.01% | -15.18% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 1.58% | 18.12% | -16.54% |
MSTIX vs. MSPIX - Expense Ratio Comparison
MSTIX has a 0.40% expense ratio, which is higher than MSPIX's 0.25% expense ratio.
Dividends
MSTIX vs. MSPIX - Dividend Comparison
MSTIX's dividend yield for the trailing twelve months is around 3.28%, more than MSPIX's 1.13% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MSPIX MainStay S&P 500 Index Fund | 1.13% | 1.25% | 5.31% | 4.17% | 10.37% | 4.57% | 8.86% | 17.41% | 14.61% | 15.26% | 9.79% | 5.75% |
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 MSPIX have a correlation of 0.13, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
MSPIX has higher volatility (4.76%) compared to MSTIX (0.49%). In terms of maximum drawdown, MSTIX dropped -8.99% vs MSPIX's -55.30%.
MSTIX currently has the higher Sharpe Ratio (2.68 vs 2.15), 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.
Find the right allocation for MSTIX and MSPIX
Add both to a portfolio and optimize allocations for your target — whether that's maximizing returns, minimizing drawdowns, or balancing risk across holdings.
Open Portfolio Optimizer