MXFIX vs. FLYRX
MXFIX (MainStay Floating Rate Fund) and FLYRX (Pioneer Floating Rate Fund) are both Bank Loan funds. Over the past 10 years, MXFIX returned 4.63%/yr vs 3.97%/yr for FLYRX. A 0.66 correlation means they provide meaningful diversification when combined. MXFIX charges 0.74%/yr vs 0.75%/yr for FLYRX.
Performance
MXFIX vs. FLYRX - Performance Comparison
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Returns By Period
In the year-to-date period, MXFIX achieves a 0.63% return, which is significantly lower than FLYRX's 1.58% return. Over the past 10 years, MXFIX has outperformed FLYRX with an annualized return of 4.63%, while FLYRX has yielded a comparatively lower 3.97% annualized return.
MXFIX
- 1D
- -0.12%
- 1M
- 0.19%
- YTD
- 0.63%
- 6M
- 1.47%
- 1Y
- 4.16%
- 3Y*
- 6.74%
- 5Y*
- 5.02%
- 10Y*
- 4.63%
FLYRX
- 1D
- 0.00%
- 1M
- 0.56%
- YTD
- 1.58%
- 6M
- 2.36%
- 1Y
- 4.82%
- 3Y*
- 5.84%
- 5Y*
- 3.97%
- 10Y*
- 3.97%
MXFIX vs. FLYRX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
MXFIX MainStay Floating Rate Fund | 0.63% | 5.47% | 7.80% | 11.43% | -1.27% | 3.40% | 2.65% | 8.46% | -0.41% | 4.06% |
FLYRX Pioneer Floating Rate Fund | 1.58% | 4.90% | 6.94% | 8.31% | -3.26% | 4.32% | 2.10% | 7.57% | 0.17% | 3.74% |
Correlation
The correlation between MXFIX and FLYRX is 0.61, 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 | 0.61 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.54 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.65 |
Correlation (10Y) Calculated over the trailing 10-year period | 0.67 |
Correlation (All Time) Calculated using the full available price history since Feb 14, 2007 | 0.66 |
The correlation between MXFIX and FLYRX shifts across timeframes, from 0.54 (3 years) to 0.67 (10 years), reflecting how their relationship changes across market environments.
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Return for Risk
MXFIX vs. FLYRX — Risk / Return Rank
MXFIX
FLYRX
MXFIX vs. FLYRX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for MainStay Floating Rate Fund (MXFIX) and Pioneer Floating Rate Fund (FLYRX). 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 | FLYRX | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | -0.27 | ||
| Sortino ratioReturn per unit of downside risk | -0.91 | ||
| Omega ratioGain probability vs. loss probability | 1.55 | 1.72 | -0.16 |
| Calmar ratioReturn relative to maximum drawdown | 2.50 | 5.34 | -2.84 |
| Martin ratioReturn relative to average drawdown | 7.91 | 15.75 | -7.84 |
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Drawdowns
MXFIX vs. FLYRX - Drawdown Comparison
The maximum MXFIX drawdown since its inception was -25.01%, smaller than the maximum FLYRX drawdown of -30.67%. Use the drawdown chart below to compare losses from any high point for MXFIX and FLYRX.
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Drawdown Indicators
| MXFIX | FLYRX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -25.01% | -30.67% | +5.66% |
Max Drawdown (1Y)Largest decline over 1 year | -1.73% | -0.94% | -0.79% |
Max Drawdown (3Y)Largest decline over 3 years | -2.57% | -2.05% | -0.52% |
Max Drawdown (5Y)Largest decline over 5 years | -6.34% | -6.61% | +0.27% |
Max Drawdown (10Y)Largest decline over 10 years | -20.09% | -19.05% | -1.04% |
Current DrawdownCurrent decline from peak | -0.35% | -0.17% | -0.18% |
Average DrawdownAverage peak-to-trough decline | -1.21% | -1.98% | +0.77% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.54% | 0.32% | +0.22% |
Volatility
MXFIX vs. FLYRX - Volatility Comparison
MainStay Floating Rate Fund (MXFIX) and Pioneer Floating Rate Fund (FLYRX) have volatilities of 0.64% and 0.65%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| MXFIX | FLYRX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.64% | 0.65% | -0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 1.82% | 1.75% | +0.07% |
Volatility (1Y)Calculated over the trailing 1-year period | 2.46% | 2.47% | -0.01% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.69% | 2.68% | +0.01% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.82% | 3.59% | +0.23% |
MXFIX vs. FLYRX - Expense Ratio Comparison
MXFIX has a 0.74% expense ratio, which is lower than FLYRX's 0.75% expense ratio.
Dividends
MXFIX vs. FLYRX - Dividend Comparison
MXFIX's dividend yield for the trailing twelve months is around 7.20%, less than FLYRX's 7.28% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLYRX Pioneer Floating Rate Fund | 7.28% | 7.48% | 5.87% | 6.45% | 5.40% | 3.46% | 3.91% | 5.01% | 4.70% | 4.13% | 3.88% | 3.85% |
MXFIX MainStay Floating Rate Fund | 7.20% | 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 FLYRX have a correlation of 0.61, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FLYRX has higher volatility (0.65%) compared to MXFIX (0.64%). In terms of maximum drawdown, MXFIX dropped -25.01% vs FLYRX's -30.67%.
FLYRX currently has the higher Sharpe Ratio (2.03 vs 1.76), 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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