PTTRX vs. MKHCX

Last updated Jun 4, 2026

PTTRX (PIMCO Total Return Fund Institutional Class) and MKHCX (MainStay MacKay High Yield Corporate Bond Fund) are both mutual funds - PTTRX is a Total Bond Market fund managed by PIMCO, while MKHCX is a High Yield Bonds fund managed by New York Life. At a 0.16 correlation, their price movements are largely independent. PTTRX charges 0.47%/yr vs 1.83%/yr for MKHCX.

Performance

PTTRX vs. MKHCX - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in PIMCO Total Return Fund Institutional Class (PTTRX) and MainStay MacKay High Yield Corporate Bond Fund (MKHCX). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

PTTRX

• 1D: 0.11%
• 1M: 0.88%
• YTD: 0.64%
• 6M: 0.81%
• 1Y: 7.46%
• 3Y*: 5.45%
• 5Y*: 0.76%
• 10Y*: 2.31%

MKHCX

• 1D: —
• 1M: —
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

PTTRX vs. MKHCX - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019	2018	2017
PTTRX PIMCO Total Return Fund Institutional Class	0.64%	9.35%	2.62%	6.33%	-14.72%	-0.59%	8.88%	8.36%	-0.24%	5.13%
MKHCX MainStay MacKay High Yield Corporate Bond Fund	0.00%	1.00%	5.72%	10.54%	-9.09%	4.07%	4.14%	11.68%	-2.55%	5.69%

Correlation

The correlation between PTTRX and MKHCX is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (3Y) Calculated over the trailing 3-year period	0.46
Correlation (5Y) Calculated over the trailing 5-year period	0.41
Correlation (10Y) Calculated over the trailing 10-year period	0.24
Correlation (All Time) Calculated using the full available price history since Jan 5, 1988	0.16

The correlation between PTTRX and MKHCX shifts across timeframes, from 0.16 (all time) to 0.46 (3 years), reflecting how their relationship changes across market environments.

Return for Risk

PTTRX vs. MKHCX — Risk / Return Rank

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

PTTRX

PTTRX Risk / Return Rank: 30
PTTRX Sharpe Ratio Rank: 31
PTTRX Sortino Ratio Rank: 32
PTTRX Omega Ratio Rank: 32
PTTRX Calmar Ratio Rank: 29
PTTRX Martin Ratio Rank: 25

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.

PTTRX vs. MKHCX - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for PIMCO Total Return Fund Institutional Class (PTTRX) and MainStay MacKay High Yield Corporate Bond Fund (MKHCX). 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.

	PTTRX	MKHCX	Difference
Sharpe ratio: Return per unit of total volatility	1.59	—	—
Sortino ratio: Return per unit of downside risk	2.34	—	—
Omega ratio: Gain probability vs. loss probability	1.29	—	—
Calmar ratio: Return relative to maximum drawdown	2.00	—	—
Martin ratio: Return relative to average drawdown	6.20	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	PTTRX	MKHCX	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	1.59	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.12	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.44	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.15	—	—

Drawdowns

Drawdown Indicators

	PTTRX	MKHCX	Difference
Max Drawdown Largest peak-to-trough decline	-19.28%	—	—
Max Drawdown (1Y) Largest decline over 1 year	-3.69%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-6.18%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-19.28%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-19.28%	—	—
Current Drawdown Current decline from peak	-1.49%	—	—
Average Drawdown Average peak-to-trough decline	-2.19%	—	—
Ulcer Index Depth and duration of drawdowns from previous peaks	1.19%	—	—

Volatility

Volatility by Period

	PTTRX	MKHCX	Difference
Volatility (1M) Calculated over the trailing 1-month period	1.81%	—	—
Volatility (6M) Calculated over the trailing 6-month period	3.54%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	4.66%	—	—
Volatility (5Y) Calculated over the trailing 5-year period, annualized	6.27%	—	—
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.23%	—	—

PTTRX vs. MKHCX - Expense Ratio Comparison

PTTRX has a 0.47% expense ratio, which is lower than MKHCX's 1.83% expense ratio.

Dividends

PTTRX vs. MKHCX - Dividend Comparison

PTTRX's dividend yield for the trailing twelve months is around 4.54%, while MKHCX has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
MKHCX MainStay MacKay High Yield Corporate Bond Fund	0.00%	0.42%	4.98%	4.69%	4.21%	4.19%	4.72%	4.78%	5.09%	5.39%	5.40%	5.85%
PTTRX PIMCO Total Return Fund Institutional Class	4.54%	4.47%	4.61%	3.81%	3.63%	2.59%	6.11%	3.96%	3.13%	2.63%	3.02%	6.64%

Frequently Asked Questions

Can I hold both PTTRX and MKHCX in my portfolio?

PTTRX and MKHCX have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.