MXFIX vs. BGT
MXFIX (MainStay Floating Rate Fund) and BGT (BlackRock Floating Rate Income Trust) are both Bank Loan funds. Over the past 10 years, MXFIX returned 4.59%/yr vs 6.35%/yr for BGT. At a 0.18 correlation, their price movements are largely independent. MXFIX charges 0.74%/yr vs 1.74%/yr for BGT.
Performance
MXFIX vs. BGT - Performance Comparison
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Returns By Period
In the year-to-date period, MXFIX achieves a 1.28% return, which is significantly lower than BGT's 2.25% return. Over the past 10 years, MXFIX has underperformed BGT with an annualized return of 4.59%, while BGT has yielded a comparatively higher 6.35% annualized return.
MXFIX
- 1D
- 0.00%
- 1M
- 0.41%
- 6M
- 1.16%
- YTD
- 1.28%
- 1Y
- 3.74%
- 3Y*
- 6.35%
- 5Y*
- 5.10%
- 10Y*
- 4.59%
BGT
- 1D
- 0.56%
- 1M
- 1.51%
- 6M
- -0.48%
- YTD
- 2.25%
- 1Y
- -1.98%
- 3Y*
- 9.61%
- 5Y*
- 6.93%
- 10Y*
- 6.35%
MXFIX vs. BGT - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MXFIX MainStay Floating Rate Fund | 1.28% | 5.47% | 7.80% | 11.43% | -1.27% | 3.40% | 2.65% | 8.46% | -0.41% | 4.06% |
BGT BlackRock Floating Rate Income Trust | 2.25% | -0.84% | 16.12% | 26.29% | -16.57% | 25.89% | -0.81% | 18.97% | -11.95% | 3.91% |
Correlation
The correlation between MXFIX and BGT 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 | 0.18 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.24 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.25 |
Correlation (All Time) Calculated using the full available price history since Aug 30, 2004 | 0.18 |
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Return for Risk
MXFIX vs. BGT — Risk / Return Rank
MXFIX
BGT
MXFIX vs. BGT - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay Floating Rate Fund (MXFIX) and BlackRock Floating Rate Income Trust (BGT). 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.
| MXFIX | BGT | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +1.77 | ||
| Sortino ratioReturn per unit of downside risk | +3.44 | ||
| Omega ratioGain probability vs. loss probability | 1.48 | 0.97 | +0.51 |
| Calmar ratioReturn relative to maximum drawdown | 2.18 | -0.18 | +2.36 |
| Martin ratioReturn relative to average drawdown | 6.88 | -0.37 | +7.25 |
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Drawdowns
MXFIX vs. BGT - Drawdown Comparison
The maximum MXFIX drawdown since its inception was -25.01%, smaller than the maximum BGT drawdown of -58.06%. Use the drawdown chart below to compare losses from any high point for MXFIX and BGT.
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Drawdown Indicators
| MXFIX | BGT | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.01% | -58.06% | +33.05% |
Max Drawdown (1Y)Largest decline over 1 year | -1.73% | -11.06% | +9.33% |
Max Drawdown (3Y)Largest decline over 3 years | -2.57% | -15.91% | +13.34% |
Max Drawdown (5Y)Largest decline over 5 years | -6.34% | -23.19% | +16.85% |
Max Drawdown (10Y)Largest decline over 10 years | -20.09% | -41.90% | +21.81% |
Current DrawdownCurrent decline from peak | 0.00% | -3.99% | +3.99% |
Average DrawdownAverage peak-to-trough decline | -1.20% | -8.11% | +6.91% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 5.35% | -4.80% |
Volatility
MXFIX vs. BGT - Volatility Comparison
The current volatility for MainStay Floating Rate Fund (MXFIX) is 0.60%, while BlackRock Floating Rate Income Trust (BGT) has a volatility of 2.21%. This indicates that MXFIX experiences smaller price fluctuations and is considered to be less risky than BGT based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MXFIX | BGT | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.60% | 2.21% | -1.61% |
Volatility (6M)Calculated over the trailing 6-month period | 1.70% | 7.06% | -5.36% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.41% | 9.79% | -7.38% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.70% | 13.56% | -10.86% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.82% | 15.33% | -11.51% |
MXFIX vs. BGT - Expense Ratio Comparison
MXFIX has a 0.74% expense ratio, which is lower than BGT's 1.74% expense ratio.
Dividends
MXFIX vs. BGT - Dividend Comparison
MXFIX's dividend yield for the trailing twelve months is around 7.10%, less than BGT's 13.45% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
BGT BlackRock Floating Rate Income Trust | 13.45% | 12.74% | 11.22% | 10.36% | 6.87% | 5.55% | 7.58% | 6.33% | 6.64% | 5.03% | 5.03% | 6.04% |
MXFIX MainStay Floating Rate Fund | 7.10% | 7.41% | 7.49% | 7.50% | 4.51% | 2.90% | 3.46% | 4.87% | 4.85% | 4.09% | 3.75% | 3.95% |
Frequently Asked Questions
MXFIX and BGT 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.
BGT has higher volatility (2.21%) compared to MXFIX (0.60%). In terms of maximum drawdown, MXFIX dropped -25.01% vs BGT's -58.06%.
MXFIX currently has the higher Sharpe Ratio (1.56 vs -0.20), 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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