TIPX vs. MHCAX
Compare and contrast key facts about SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) and MainStay MacKay High Yield Corporate Bond Fund Class A (MHCAX).
TIPX is a passively managed fund by State Street that tracks the performance of the Bloomberg US Govt Inflation-Linked (1-10 Y). It was launched on May 29, 2013. MHCAX is managed by New York Life. It was launched on May 1, 1986.
Performance
TIPX vs. MHCAX - Performance Comparison
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TIPX vs. MHCAX - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 0.58% | 7.15% | 3.08% | 4.43% | -7.58% | 5.42% | 8.51% | 6.60% | -0.32% | 2.54% |
MHCAX MainStay MacKay High Yield Corporate Bond Fund Class A | -0.62% | 6.44% | 6.90% | 11.27% | 42.57% | 5.10% | 4.82% | 12.76% | -1.92% | 6.54% |
Returns By Period
In the year-to-date period, TIPX achieves a 0.58% return, which is significantly higher than MHCAX's -0.62% return. Over the past 10 years, TIPX has underperformed MHCAX with an annualized return of 2.87%, while MHCAX has yielded a comparatively higher 10.09% annualized return.
TIPX
- 1D
- -0.06%
- 1M
- -0.58%
- YTD
- 0.58%
- 6M
- 0.65%
- 1Y
- 3.75%
- 3Y*
- 3.99%
- 5Y*
- 2.46%
- 10Y*
- 2.87%
MHCAX
- 1D
- 0.00%
- 1M
- -1.35%
- YTD
- -0.62%
- 6M
- 0.34%
- 1Y
- 4.66%
- 3Y*
- 6.70%
- 5Y*
- 13.24%
- 10Y*
- 10.09%
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TIPX vs. MHCAX - Expense Ratio Comparison
TIPX has a 0.15% expense ratio, which is lower than MHCAX's 0.95% expense ratio.
Return for Risk
TIPX vs. MHCAX — Risk / Return Rank
TIPX
MHCAX
TIPX vs. MHCAX - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) and MainStay MacKay High Yield Corporate Bond Fund Class A (MHCAX). 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.
| TIPX | MHCAX | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.20 | 1.64 | -0.44 |
Sortino ratioReturn per unit of downside risk | 1.72 | 2.19 | -0.47 |
Omega ratioGain probability vs. loss probability | 1.23 | 1.42 | -0.19 |
Calmar ratioReturn relative to maximum drawdown | 1.84 | 1.58 | +0.26 |
Martin ratioReturn relative to average drawdown | 6.83 | 7.50 | -0.67 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| TIPX | MHCAX | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.20 | 1.64 | -0.44 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.53 | 0.53 | +0.01 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.66 | 0.56 | +0.10 |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.49 | 0.77 | -0.29 |
Correlation
The correlation between TIPX and MHCAX is 0.18, which is considered to be low. This implies their price changes are not closely related. A low correlation is generally favorable for portfolio diversification, as it helps to reduce overall risk by spreading it across multiple assets with different performance patterns.
Dividends
TIPX vs. MHCAX - Dividend Comparison
TIPX's dividend yield for the trailing twelve months is around 3.70%, less than MHCAX's 5.62% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
TIPX SPDR Bloomberg Barclays 1-10 Year TIPS ETF | 3.70% | 3.78% | 3.57% | 3.57% | 6.08% | 4.26% | 1.73% | 2.53% | 1.90% | 2.84% | 1.04% | 0.06% |
MHCAX MainStay MacKay High Yield Corporate Bond Fund Class A | 5.62% | 6.06% | 5.90% | 5.56% | 40.91% | 5.00% | 5.52% | 5.58% | 5.94% | 6.20% | 5.69% | 6.72% |
Drawdowns
TIPX vs. MHCAX - Drawdown Comparison
The maximum TIPX drawdown since its inception was -10.06%, smaller than the maximum MHCAX drawdown of -29.62%. Use the drawdown chart below to compare losses from any high point for TIPX and MHCAX.
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Drawdown Indicators
| TIPX | MHCAX | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.06% | -29.62% | +19.56% |
Max Drawdown (1Y)Largest decline over 1 year | -2.03% | -2.89% | +0.86% |
Max Drawdown (5Y)Largest decline over 5 years | -10.06% | -11.74% | +1.68% |
Max Drawdown (10Y)Largest decline over 10 years | -10.06% | -18.98% | +8.92% |
Current DrawdownCurrent decline from peak | -0.83% | -1.48% | +0.65% |
Average DrawdownAverage peak-to-trough decline | -2.31% | -2.15% | -0.16% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.55% | 0.61% | -0.06% |
Volatility
TIPX vs. MHCAX - Volatility Comparison
SPDR Bloomberg Barclays 1-10 Year TIPS ETF (TIPX) and MainStay MacKay High Yield Corporate Bond Fund Class A (MHCAX) have volatilities of 0.96% and 0.95%, 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
| TIPX | MHCAX | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.96% | 0.95% | +0.01% |
Volatility (6M)Calculated over the trailing 6-month period | 1.76% | 1.63% | +0.13% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.14% | 2.99% | +0.15% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.64% | 25.35% | -20.71% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.39% | 18.23% | -13.84% |