MTMIX vs. TGLMX
MTMIX (MainStay MacKay Total Return Bond Fund) and TGLMX (TCW Total Return Bond Fund) are both Intermediate Core-Plus Bond funds. Over the past 10 years, MTMIX returned 2.48%/yr vs 1.45%/yr for TGLMX. A 0.79 correlation means they provide meaningful diversification when combined. MTMIX charges 0.45%/yr vs 0.49%/yr for TGLMX.
Performance
MTMIX vs. TGLMX - Performance Comparison
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Returns By Period
In the year-to-date period, MTMIX achieves a 0.70% return, which is significantly lower than TGLMX's 1.12% return. Over the past 10 years, MTMIX has outperformed TGLMX with an annualized return of 2.48%, while TGLMX has yielded a comparatively lower 1.45% annualized return.
MTMIX
- 1D
- -0.22%
- 1M
- 0.64%
- YTD
- 0.70%
- 6M
- 0.81%
- 1Y
- 4.53%
- 3Y*
- 5.98%
- 5Y*
- 0.86%
- 10Y*
- 2.48%
TGLMX
- 1D
- -0.26%
- 1M
- 0.52%
- YTD
- 1.12%
- 6M
- 1.15%
- 1Y
- 5.91%
- 3Y*
- 4.63%
- 5Y*
- -0.21%
- 10Y*
- 1.45%
MTMIX vs. TGLMX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MTMIX MainStay MacKay Total Return Bond Fund | 0.70% | 7.83% | 4.76% | 7.92% | -15.29% | -0.81% | 9.72% | 9.38% | -1.22% | 4.64% |
TGLMX TCW Total Return Bond Fund | 1.12% | 8.99% | 1.82% | 5.05% | -16.59% | -1.05% | 8.32% | 7.28% | 0.80% | 3.44% |
Correlation
The correlation between MTMIX and TGLMX is 0.94, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.94 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.94 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.94 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.91 |
Correlation (All Time) Calculated using the full available price history since Jan 3, 1994 | 0.79 |
The correlation between MTMIX and TGLMX shifts across timeframes, from 0.79 (all time) to 0.94 (3 years), reflecting how their relationship changes across market environments.
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Return for Risk
MTMIX vs. TGLMX — Risk / Return Rank
MTMIX
TGLMX
MTMIX vs. TGLMX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay MacKay Total Return Bond Fund (MTMIX) and TCW Total Return Bond Fund (TGLMX). 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.
| MTMIX | TGLMX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.22 | ||
| Sortino ratioReturn per unit of downside risk | -0.35 | ||
| Omega ratioGain probability vs. loss probability | 1.23 | 1.28 | -0.05 |
| Calmar ratioReturn relative to maximum drawdown | 1.78 | 2.42 | -0.64 |
| Martin ratioReturn relative to average drawdown | 5.00 | 6.93 | -1.93 |
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Drawdowns
MTMIX vs. TGLMX - Drawdown Comparison
The maximum MTMIX drawdown since its inception was -20.47%, smaller than the maximum TGLMX drawdown of -22.26%. Use the drawdown chart below to compare losses from any high point for MTMIX and TGLMX.
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Drawdown Indicators
| MTMIX | TGLMX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -20.47% | -22.26% | +1.79% |
Max Drawdown (1Y)Largest decline over 1 year | -2.70% | -2.63% | -0.07% |
Max Drawdown (3Y)Largest decline over 3 years | -6.14% | -8.56% | +2.42% |
Max Drawdown (5Y)Largest decline over 5 years | -20.47% | -22.17% | +1.70% |
Max Drawdown (10Y)Largest decline over 10 years | -20.47% | -22.26% | +1.79% |
Current DrawdownCurrent decline from peak | -1.43% | -2.85% | +1.42% |
Average DrawdownAverage peak-to-trough decline | -2.28% | -3.79% | +1.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.95% | 0.91% | +0.04% |
Volatility
MTMIX vs. TGLMX - Volatility Comparison
The current volatility for MainStay MacKay Total Return Bond Fund (MTMIX) is 1.03%, while TCW Total Return Bond Fund (TGLMX) has a volatility of 1.23%. This indicates that MTMIX experiences smaller price fluctuations and is considered to be less risky than TGLMX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MTMIX | TGLMX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.03% | 1.23% | -0.20% |
Volatility (6M)Calculated over the trailing 6-month period | 2.75% | 3.11% | -0.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.80% | 4.28% | -0.48% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 6.06% | 7.06% | -1.00% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.01% | 5.60% | -0.59% |
MTMIX vs. TGLMX - Expense Ratio Comparison
MTMIX has a 0.45% expense ratio, which is lower than TGLMX's 0.49% expense ratio.
Dividends
MTMIX vs. TGLMX - Dividend Comparison
MTMIX's dividend yield for the trailing twelve months is around 4.92%, less than TGLMX's 6.75% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MTMIX MainStay MacKay Total Return Bond Fund | 4.92% | 5.01% | 5.47% | 4.38% | 3.89% | 5.43% | 3.58% | 2.84% | 2.82% | 2.62% | 2.98% | 3.12% |
TGLMX TCW Total Return Bond Fund | 6.75% | 7.19% | 6.52% | 6.13% | 3.27% | 2.08% | 3.37% | 4.07% | 3.55% | 2.89% | 4.13% | 2.88% |
Frequently Asked Questions
With a correlation of 0.94, MTMIX and TGLMX move almost identically. Holding both adds very little diversification - you're essentially doubling your position in the same market segment. Choosing one is usually more capital-efficient.
TGLMX has higher volatility (1.23%) compared to MTMIX (1.03%). In terms of maximum drawdown, MTMIX dropped -20.47% vs TGLMX's -22.26%.
TGLMX currently has the higher Sharpe Ratio (1.49 vs 1.26), 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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