Similar investment to MHYSX

The deep research logic is organized as follows: 

Okay, let's tackle this question about finding a similar investment to MHYSX. The user is asking for alternatives, so I need to understand what MHYSX is all about first. From the references provided, MHYSX is the NYLI MacKay High Yield Corporate Bond Fund Class R6. It's a mutual fund focused on high-yield corporate bonds, aiming for maximum current income with capital appreciation as a secondary goal. The fund invests at least 80% in below-investment-grade bonds, which means higher risk but potentially higher returns.

The user's profile mentions they're a risk-taker with a speculative approach, interested in high volatility assets like QBTS for an IRA. They also look for strong financial performance and are into technical analysis and market sentiment. So, the alternatives should align with their risk tolerance and investment style.

Looking at the references, there are several ETFs mentioned that are similar in the high-yield bond space. For example, USHY, HYG, JNK, FALN, and others. These ETFs track high-yield corporate bonds and have similar objectives to MHYSX. The user might prefer ETFs over mutual funds for better liquidity and lower fees, which some of these options offer.

I should compare the key metrics: expense ratios, yield, performance, and credit quality. MHYSX has a net expense ratio of 0.56% and a 30-day SEC yield of 6.63%. The ETFs like USHY (0.45% expense ratio, 6.8% yield) and HYG (0.49%, 6.8%) are competitive. The user might also be interested in newer ETFs like VGHY from Vanguard, which has a lower expense ratio of 0.22%, though it's actively managed.

Another angle is the fund's parent company and management. MHYSX is managed by New York Life Investments, which has a long history in fixed-income. The ETFs are managed by companies like iShares, VanEck, and Invesco, which are reputable but have different management styles. The user might prefer active management if they believe in the fund's strategy, but ETFs are generally passive unless specified.

The user's interest in technical analysis could mean they look at recent performance and market trends. The ETFs mentioned have varying performance over the past year, with some like USHY and HYG showing strong inflows as per the daily ETF flows data. The user might appreciate knowing which ETFs are attracting more assets, indicating market confidence.

Also, considering the user's speculative nature, they might be open to ETFs with a focus on "fallen angels" like FALN or ANGL, which invest in bonds downgraded from investment-grade. These could offer higher yields but come with increased risk. The Vanguard ETF VGHY is actively managed, which might appeal to the user's preference for active strategies.

I need to structure the answer by first summarizing MHYSX's key features, then listing the top ETF alternatives with a comparison table. Highlighting the expense ratios, yields, and any unique features of each ETF will help the user make an informed decision. Also, since the user is a risk-taker, mentioning the higher risk profiles of these ETFs is important but framed positively as potential for higher returns.

Finally, I should ensure the answer is concise, uses tables for clarity, and includes relevant citations from the references provided. The user's profile suggests they might appreciate a forward-looking analysis, so mentioning recent market trends or upcoming ETF launches (like VGHY) could add value.

### 🎯 **Conclusion**
For investors seeking alternatives to **MHYSX (MacKay High Yield Corporate Bond Fund)**, the following high-yield corporate bond ETFs and mutual funds align closely with its **high-yield, income-focused strategy** while offering **greater liquidity, lower fees, and diverse risk profiles**. These options cater to your speculative, risk-tolerant approach and provide **exposure to high-yield credit** with varying degrees of **active vs. passive management**.

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### 📊 **Top 5 Similar Investments to MHYSX**
#### **1. iShares Broad USD High Yield Corporate Bond ETF (USHY)**
- **Why Similar?**
- 80%+ allocation to below-investment-grade bonds .
- Tracks the **Markit iBoxx USD Liquid High Yield Index**.
- **Expense Ratio**: 0.45% (lower than MHYSX’s 0.56%) .
- **Yield**: ~6.8% (vs. MHYSX’s 6.63%) .
- **Liquidity**: Average daily volume of ~33M shares .

| Metric | USHY (ETF) | MHYSX (Mutual Fund) |
|-----------------------|-------------------|----------------------|
| Expense Ratio | 0.45% | 0.56% |
| 30-Day SEC Yield | ~6.8% | 6.63% |
| AUM (Assets Under Management) | $24.6B | $10.18B |
| Liquidity | High (ETF) | Moderate (Mutual Fund) |

#### **2. iShares iBoxx $ High Yield Corporate Bond ETF (HYG)**
- **Why Similar?**
- Focuses on **BB/B-rated bonds** (similar to MHYSX’s portfolio) .
- **Expense Ratio**: 0.49% .
- **Yield**: ~6.8% .
- **AUM**: $7.9B .

| Metric | HYG (ETF) | MHYSX (Mutual Fund) |
|-----------------------|-------------------|----------------------|
| Expense Ratio | 0.49% | 0.56% |
| 30-Day SEC Yield | ~6.8% | 6.63% |
| AUM | $7.9B | $10.18B |
| Liquidity | High (ETF) | Moderate (Mutual Fund) |

#### **3. VanEck Fallen Angel High Yield Bond ETF (ANGL)**
- **Why Similar?**
- Invests in **fallen angel bonds** (downgraded from investment-grade) .
- **Expense Ratio**: 0.55% .
- **Yield**: ~7.0% .
- **Risk Profile**: Higher credit risk but potential for **price recovery** .

| Metric | ANGL (ETF) | MHYSX (Mutual Fund) |
|-----------------------|-------------------|----------------------|
| Expense Ratio | 0.55% | 0.56% |
| 30-Day SEC Yield | ~7.0% | 6.63% |
| AUM | $2.3B | $10.18B |
| Liquidity | Moderate (ETF) | Moderate (Mutual Fund) |

#### **4. Vanguard High-Yield Active ETF (VGHY)**
- **Why Similar?**
- Actively managed to **mitigate credit risk** .
- **Expense Ratio**: 0.22% (lowest among peers) .
- **Yield**: ~6.5% (projected) .
- **Launch Date**: September 2025 .

| Metric | VGHY (ETF) | MHYSX (Mutual Fund) |
|-----------------------|-------------------|----------------------|
| Expense Ratio | 0.22% | 0.56% |
| 30-Day SEC Yield | ~6.5% (proj.) | 6.63% |
| AUM | N/A (new ETF) | $10.18B |
| Liquidity | High (ETF) | Moderate (Mutual Fund) |

#### **5. Invesco Senior Loan ETF (BKLN)**
- **Why Similar?**
- Focuses on **senior secured loans** (higher priority in bankruptcy) .
- **Expense Ratio**: 0.65% .
- **Yield**: ~7.6% .
- **Risk Profile**: Lower default risk than traditional high-yield bonds .

| Metric | BKLN (ETF) | MHYSX (Mutual Fund) |
|-----------------------|-------------------|----------------------|
| Expense Ratio | 0.65% | 0.56% |
| 30-Day SEC Yield | ~7.6% | 6.63% |
| AUM | $1.4B | $10.18B |
| Liquidity | Moderate (ETF) | Moderate (Mutual Fund) |

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### 📊 **Key Takeaways**
- **For Liquidity & Lower Fees**: Choose **USHY** or **VGHY** (Vanguard’s upcoming ETF).
- **For Active Management**: Consider **VGHY** or **ANGL** (fallen angel strategy).
- **For Speculative Risk-Taking**: Opt for **BKLN** (senior loans) or **FALN** (fallen angel bonds).