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Trending ETFs

Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$7.89

$63.1 M

5.05%

$0.40

1.46%

Vitals

YTD Return

2.9%

1 yr return

16.8%

3 Yr Avg Return

-1.4%

5 Yr Avg Return

0.2%

Net Assets

$63.1 M

Holdings in Top 10

19.2%

52 WEEK LOW AND HIGH

$7.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.46%

SALES FEES

Front Load 4.50%

Deferred Load N/A

TRADING FEES

Turnover 112.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$15,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/27/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$7.89

$63.1 M

5.05%

$0.40

1.46%

MGHAX - Profile

Distributions

  • YTD Total Return 2.9%
  • 3 Yr Annualized Total Return -1.4%
  • 5 Yr Annualized Total Return 0.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 3.58%
DIVIDENDS
  • Dividend Yield 5.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    MainStay Candriam Emerging Markets Debt Fund
  • Fund Family Name
    MainStay
  • Inception Date
    Jun 01, 1998
  • Shares Outstanding
    7689762
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Christopher Mey

Fund Description

Under normal circumstances, the Fund invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in fixed income securities of issuers in emerging markets. An issuer of a security is considered to be an emerging market issuer based on the issuer’s “country of risk” (or similar designation) as determined by a third-party such as Bloomberg. Candriam, the Fund’s Subadvisor, has discretion to determine the countries considered to be emerging market countries, including taking into consideration a variety of factors such as the development of a country’s financial and capital markets and inclusion in an index, such as the J.P. Morgan Emerging Market Bond Index, considered by the Subadvisor to be representative of emerging markets.

The securities in which the Fund invests may be denominated in foreign currency. The debt securities in which the Fund invests may consist of securities that are rated below investment grade. Below investment grade securities are generally securities that receive low ratings from a nationally recognized statistical rating organization (“NRSRO”) (such as securities rated lower than BBB- and Baa3), or if unrated, are deemed to be of comparable quality by the Subadvisor. Securities rated below investment grade by a NRSRO are commonly referred to as “high yield securities” or “junk bonds.” If NRSROs assign different ratings to the same security, the Fund will use the higher rating for purposes of determining the security's credit quality. The Fund may invest in fixed income securities of any duration or maturity.

The Fund's principal investments include sovereign, quasi-sovereign and corporate Eurobonds. The Fund may invest in floating rate notes and inverse floating rate notes. The Fund may also invest in derivative instruments, such as forward commitments, futures, options and swap agreements to try to enhance returns or reduce the risk of loss by hedging certain of its holdings. The Fund may invest up to 20% of its total assets in swaps, including credit default swaps and credit default swap indices. The Fund may buy and sell currency on a spot basis, buy foreign currency options, and enter into foreign currency forward contracts. These techniques may be used for any purpose, including to seek to increase the Fund's return.

Investment Process: The Subadvisor identifies investment opportunities by deploying a relative value focused investment approach. The approach consists of three primary layers of analysis. The first layer assesses medium-term sovereign creditworthiness and sets up the basis for identifying the second and third layer investment opportunities, which are relative country (second layer) and instrument (third layer) investment opportunities. The Subadvisor also considers key fundamental macro-economic drivers such as growth and inflation dynamics, internal and external imbalances as well as structural reform and political risk trends. The investment approach is aware of environmental, social and governance (“ESG”) risks as ESG factors are explicitly integrated in the sovereign creditworthiness analysis. The Subadvisor may avoid investments in sovereign or corporate issuers where the combination of fundamental and ESG risks are not appropriately reflected in valuations.

In addition, the Subadvisor implements a Controversial Activity Exclusion policy related to companies and industries involved with the production of coal, tobacco products, chemical, biological or white phosphorus weapons, and gambling.

The Subadvisor may sell a security if it believes the security will no longer contribute to meeting the investment objective of the Fund.

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MGHAX - Performance

Return Ranking - Trailing

Period MGHAX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.9% -2.8% 93.3% 11.51%
1 Yr 16.8% -3.8% 112.3% 9.21%
3 Yr -1.4%* -13.6% 21.2% 69.28%
5 Yr 0.2%* -8.7% 12.8% 78.47%
10 Yr 2.1%* -5.2% 6.6% 36.42%

* Annualized

Return Ranking - Calendar

Period MGHAX Return Category Return Low Category Return High Rank in Category (%)
2023 6.5% -10.6% 17.8% 29.61%
2022 -22.4% -29.1% -2.4% 81.97%
2021 -9.4% -24.0% 2.7% 70.38%
2020 -2.8% -14.0% 9.7% 88.49%
2019 10.6% -6.4% 13.0% 8.76%

Total Return Ranking - Trailing

Period MGHAX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.9% -2.8% 93.3% 11.51%
1 Yr 16.8% -3.8% 112.3% 9.21%
3 Yr -1.4%* -13.6% 21.2% 69.28%
5 Yr 0.2%* -8.7% 12.8% 78.47%
10 Yr 2.1%* -5.2% 6.6% 36.42%

* Annualized

Total Return Ranking - Calendar

Period MGHAX Return Category Return Low Category Return High Rank in Category (%)
2023 13.1% -0.6% 20.0% 31.58%
2022 -17.1% -27.6% -1.7% 79.93%
2021 -4.9% -18.5% 7.4% 66.20%
2020 3.3% -7.8% 18.0% 73.38%
2019 15.5% -3.0% 23.0% 16.79%

NAV & Total Return History


MGHAX - Holdings

Concentration Analysis

MGHAX Category Low Category High MGHAX % Rank
Net Assets 63.1 M 331 K 14.4 B 73.44%
Number of Holdings 124 4 1833 85.57%
Net Assets in Top 10 12.1 M -134 M 1.25 B 73.44%
Weighting of Top 10 19.23% 5.1% 101.4% 46.36%

Top 10 Holdings

  1. Romanian Government Bond 2.57%
  2. Mexican Bonos 2.37%
  3. KazMunayGas National Co. JSC 1.89%
  4. Ivory Coast Government Bond 1.86%
  5. Bulgaria Government Bond 1.82%
  6. TAV Havalimanlari Holding A/S 1.80%
  7. Egypt Government Bond 1.78%
  8. Romanian Government Bond 1.78%
  9. Senegal Government Bond 1.68%
  10. Turkey Government Bond 1.67%

Asset Allocation

Weighting Return Low Return High MGHAX % Rank
Bonds
90.89% 0.91% 99.54% 76.07%
Cash
8.55% 0.00% 21.93% 26.56%
Other
0.56% -9.56% 88.17% 24.92%
Stocks
0.00% -0.01% 93.55% 72.46%
Preferred Stocks
0.00% 0.00% 1.28% 61.64%
Convertible Bonds
0.00% 0.00% 8.47% 85.76%

Bond Sector Breakdown

Weighting Return Low Return High MGHAX % Rank
Government
75.94% 0.00% 99.79% 26.16%
Corporate
9.60% 0.00% 93.26% 73.18%
Cash & Equivalents
3.14% 0.00% 23.23% 40.98%
Derivative
0.56% -2.00% 7.35% 10.16%
Securitized
0.00% 0.00% 2.41% 66.23%
Municipal
0.00% 0.00% 0.00% 60.26%

Bond Geographic Breakdown

Weighting Return Low Return High MGHAX % Rank
US
69.29% -42.31% 99.01% 50.16%
Non US
21.60% 0.00% 132.49% 49.18%

MGHAX - Expenses

Operational Fees

MGHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.46% 0.02% 35.56% 36.51%
Management Fee 0.70% 0.00% 1.10% 52.46%
12b-1 Fee 0.25% 0.00% 1.00% 41.43%
Administrative Fee N/A 0.02% 0.65% N/A

Sales Fees

MGHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 4.50% 0.75% 5.75% 27.45%
Deferred Load N/A 1.00% 4.00% N/A

Trading Fees

MGHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.75% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

MGHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 112.00% 0.00% 218.00% 86.42%

MGHAX - Distributions

Dividend Yield Analysis

MGHAX Category Low Category High MGHAX % Rank
Dividend Yield 5.05% 0.00% 22.11% 24.92%

Dividend Distribution Analysis

MGHAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

MGHAX Category Low Category High MGHAX % Rank
Net Income Ratio 3.58% -2.28% 8.00% 74.83%

Capital Gain Distribution Analysis

MGHAX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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MGHAX - Fund Manager Analysis

Managers

Christopher Mey


Start Date

Tenure

Tenure Rank

Jun 21, 2019

2.95

3.0%

Mr. Mey has managed the MainStay Candriam Emerging Markets Debt Fund since 2019. He joined Candriam Luxembourg in March 2017 as a Fund Manager specializing in Emerging Markets Corporate Bonds from Union Bancaire Privee’s Emerging Market Fixed Income Team, where he was responsible for covering Asian Credit Markets. Mr. Mey spent 8 years at F&C Investments, initially as a Performance Analyst before joining the Global High Yield Desk in 2010. In 2012 he joined the Emerging Market Debt Team where he was a fund manager for Emerging Market Corporate Bonds. He holds an MA in International Financial Analysis from Newcastle University as well as a BA (Hons) Degree in Accounting and Financing from Newcastle University. He has been a CFA® charterholder since 2013

Diliana Deltcheva


Start Date

Tenure

Tenure Rank

Jun 21, 2019

2.95

3.0%

Diliana Deltcheva has been Head of Emerging Market Debt at Candriam Luxembourg since March 2015. Ms. Deltcheva started her career at ING Investment Management in Netherlands as a Quantitative Fixed Income Analyst in 2002 and was later promoted to an Emerging Markets Debt Fund Manager in 2006. At ING IM, Ms. Deltcheva co-managed and developed investment processes for Hard Currency, Local Currency and Blend strategies. Between 2011 and 2015, she worked at F&C Investments as a Senior Emerging Fund Manager. Ms. Deltcheva holds a Masters Degree in International Finance from the University of Amsterdam in the Netherlands, Double BA degree in Political Science / International Relations and Business Administration from the American University in Bulgaria and is a CFA charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 23.87 6.38 6.11