MUBFX vs. MSXAX

Last updated Jun 5, 2026

MUBFX (MainStay WMC Value Fund) and MSXAX (NYLI S&P 500 Index Class A) are both mutual funds - MUBFX is a Large Cap Value Equities fund managed by New York Life, while MSXAX is a S&P 500 fund tracking the S&P 500 Index. Over the past 10 years, MUBFX returned 12.90%/yr vs 15.00%/yr for MSXAX. Their correlation of 0.93 suggests significant overlap in exposure. MUBFX charges 0.70%/yr vs 0.52%/yr for MSXAX.

Performance

MUBFX vs. MSXAX - Performance Comparison

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

Returns By Period

In the year-to-date period, MUBFX achieves a 7.42% return, which is significantly lower than MSXAX's 10.65% return. Over the past 10 years, MUBFX has underperformed MSXAX with an annualized return of 12.90%, while MSXAX has yielded a comparatively higher 15.00% annualized return.

MUBFX

• 1D: -0.35%
• 1M: 0.91%
• YTD: 7.42%
• 6M: 8.28%
• 1Y: 20.75%
• 3Y*: 14.74%
• 5Y*: 9.16%
• 10Y*: 12.90%

MSXAX

• 1D: -0.73%
• 1M: 4.14%
• YTD: 10.65%
• 6M: 10.51%
• 1Y: 27.36%
• 3Y*: 21.82%
• 5Y*: 13.34%
• 10Y*: 15.00%

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

MUBFX vs. MSXAX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
MUBFX MainStay WMC Value Fund	7.42%	14.74%	10.72%	9.62%	-4.54%	28.60%	13.62%	31.67%	-6.89%	22.71%
MSXAX NYLI S&P 500 Index Class A	10.65%	17.26%	23.98%	25.96%	-18.52%	28.13%	17.86%	30.69%	-4.71%	21.07%

Correlation

The correlation between MUBFX and MSXAX 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, 2004	0.93

Over the past year, the correlation between MUBFX and MSXAX has dropped to 0.67 - well below their long-term average of 0.93, suggesting their price drivers have been diverging.

Return for Risk

MUBFX vs. MSXAX — Risk / Return Rank

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

MUBFX

MUBFX Risk / Return Rank: 53
MUBFX Sharpe Ratio Rank: 46
MUBFX Sortino Ratio Rank: 46
MUBFX Omega Ratio Rank: 44
MUBFX Calmar Ratio Rank: 68
MUBFX Martin Ratio Rank: 61

MSXAX

MSXAX Risk / Return Rank: 64
MSXAX Sharpe Ratio Rank: 63
MSXAX Sortino Ratio Rank: 58
MSXAX Omega Ratio Rank: 58
MSXAX Calmar Ratio Rank: 65
MSXAX Martin Ratio Rank: 77

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.

MUBFX vs. MSXAX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for MainStay WMC Value Fund (MUBFX) and NYLI S&P 500 Index Class A (MSXAX). 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.

	MUBFX	MSXAX	Difference
Sharpe ratio: Return per unit of total volatility	1.93	2.32	-0.39
Sortino ratio: Return per unit of downside risk	2.75	3.18	-0.43
Omega ratio: Gain probability vs. loss probability	1.35	1.42	-0.07
Calmar ratio: Return relative to maximum drawdown	3.07	3.08	-0.01
Martin ratio: Return relative to average drawdown	11.69	14.31	-2.62
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MUBFX vs. MSXAX - Sharpe Ratio Comparison

The current MUBFX Sharpe Ratio is 1.93, which is comparable to the MSXAX Sharpe Ratio of 2.32. The chart below compares the historical Sharpe Ratios of MUBFX and MSXAX, 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

	MUBFX	MSXAX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.93	2.32	-0.39
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.62	0.79	-0.17
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.72	0.83	-0.11
Sharpe Ratio (All Time) Calculated using the full available price history	0.64	0.56	+0.08

Drawdowns

MUBFX vs. MSXAX - Drawdown Comparison

The maximum MUBFX drawdown since its inception was -53.31%, roughly equal to the maximum MSXAX drawdown of -55.48%. Use the drawdown chart below to compare losses from any high point for MUBFX and MSXAX.

Drawdown Indicators

	MUBFX	MSXAX	Difference
Max Drawdown Largest peak-to-trough decline	-53.31%	-55.48%	+2.17%
Max Drawdown (1Y) Largest decline over 1 year	-6.67%	-8.97%	+2.30%
Max Drawdown (3Y) Largest decline over 3 years	-14.19%	-18.78%	+4.59%
Max Drawdown (5Y) Largest decline over 5 years	-15.61%	-24.78%	+9.17%
Max Drawdown (10Y) Largest decline over 10 years	-39.31%	-33.79%	-5.52%
Current Drawdown Current decline from peak	-0.35%	-0.73%	+0.38%
Average Drawdown Average peak-to-trough decline	-6.17%	-7.16%	+0.99%
Ulcer Index Depth and duration of drawdowns from previous peaks	1.75%	1.92%	-0.17%

Volatility

MUBFX vs. MSXAX - Volatility Comparison

The current volatility for MainStay WMC Value Fund (MUBFX) is 2.17%, while NYLI S&P 500 Index Class A (MSXAX) has a volatility of 2.92%. This indicates that MUBFX experiences smaller price fluctuations and is considered to be less risky than MSXAX based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MUBFX	MSXAX	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.17%	2.92%	-0.75%
Volatility (6M) Calculated over the trailing 6-month period	7.72%	9.01%	-1.29%
Volatility (1Y) Calculated over the trailing 1-year period	10.61%	11.90%	-1.29%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	14.80%	16.91%	-2.11%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	17.90%	18.07%	-0.17%

MUBFX vs. MSXAX - Expense Ratio Comparison

MUBFX has a 0.70% expense ratio, which is higher than MSXAX's 0.52% expense ratio.

Dividends

MUBFX vs. MSXAX - Dividend Comparison

MUBFX's dividend yield for the trailing twelve months is around 6.87%, more than MSXAX's 0.96% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MSXAX NYLI S&P 500 Index Class A	0.96%	1.06%	5.20%	4.04%	10.30%	4.44%	8.78%	17.42%	14.49%	15.18%	9.63%	5.53%
MUBFX MainStay WMC Value Fund	6.87%	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 MUBFX and MSXAX in my portfolio?

MUBFX and MSXAX 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, MUBFX or MSXAX?

MSXAX has higher volatility (2.92%) compared to MUBFX (2.17%). In terms of maximum drawdown, MUBFX dropped -53.31% vs MSXAX's -55.48%.

Which has better risk-adjusted returns?

MSXAX currently has the higher Sharpe Ratio (2.32 vs 1.93), 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.