MainStay Short Term Bond Fund
Name
As of 04/30/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
-0.2%
1 yr return
3.0%
3 Yr Avg Return
-0.4%
5 Yr Avg Return
1.4%
Net Assets
$168 M
Holdings in Top 10
47.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 0.75%
SALES FEES
Front Load 1.00%
Deferred Load N/A
TRADING FEES
Turnover 236.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$15,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/30/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
MIXAX - Profile
Distributions
- YTD Total Return -0.2%
- 3 Yr Annualized Total Return -0.4%
- 5 Yr Annualized Total Return 1.4%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.70%
- Dividend Yield 4.7%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameMainStay Short Term Bond Fund
-
Fund Family NameMainStay
-
Inception DateJan 02, 2004
-
Shares Outstanding6060027
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerKenneth Sommer
Fund Description
The Fund, under normal circumstances, invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in debt securities.
Under normal circumstances, the Fund invests at least 80% of net assets in investment grade quality bonds of various types as rated by a nationally recognized statistical rating organization (“NRSRO”) (such bonds rated BBB- or higher, or Baa3 or higher), or if unrated, judged to be of comparable quality by NYL Investors LLC, the Fund’s Subadvisor. The Fund may invest up to 20% of its net assets in bonds rated below investment grade by a NRSRO (such as bonds rated lower than BBB- and Baa3), commonly referred to as “high yield” or “junk” bonds. In the event NRSROs assign different ratings to the same security, the Fund will apply the lower rating if rated differently by two NRSROs, and will apply the middle rating if rated differently by three NRSROs.
The Fund's principal investments include investment grade corporate credit and securitized assets, including structured credit, collateralized loan obligations, asset-backed securities, residential mortgage-backed securities, commercial mortgage-backed securities and collateralized mortgage obligations.
The Fund attempts to manage interest rate risk through its management of the average duration of the securities it holds in its portfolio. Under normal conditions, the Fund will maintain its average dollar-weighted duration range between one and three years. Duration is a measure used to determine the sensitivity of a security's price to changes in interest rates. The longer a security's duration, the more sensitive it will be to changes in interest rates.
The Fund may also invest in futures to seek to enhance returns or reduce the risk of loss by hedging certain of its holdings.
Investment Process: The Subadvisor seeks to generate consistent, risk-adjusted excess returns by conducting bottom-up fundamental research as the basis for investment selection.
Core to the Subadvisor’s objective is capital preservation through loss-avoidance by constructing a well-diversified portfolio with a long-term focus. Underlying investment opportunities are based on the financial condition and competitiveness of individual companies. The Subadvisor also invests in companies that the Subadvisor believes have a high margin of safety and are leaders in industries with high barriers to entry.
The Subadvisor prefers companies with positive free cash flow, solid asset coverage and management teams with strong track records. In virtually every phase of the investment process, the Subadvisor attempts to control risk and limit defaults.
The Subadvisor’s investment process relies on a comprehensive fundamental investment discipline, including, but not limited to, consideration of environmental, social and governance (“ESG”) factors that may be material to a company’s performance and prospects. In addition to internal research, the Subadvisor may use third-party ESG data to compare internal views with external perspectives.
The Subadvisor may sell a security if it believes the security will no longer contribute to meeting the investment objective of the Fund.
MIXAX - Performance
Return Ranking - Trailing
Period | MIXAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.2% | -5.1% | 11.2% | 78.36% |
1 Yr | 3.0% | -3.5% | 25.7% | 70.49% |
3 Yr | -0.4%* | -6.7% | 4.0% | 68.34% |
5 Yr | 1.4%* | -4.4% | 4.4% | 46.22% |
10 Yr | 1.6%* | -19.2% | 169.6% | 29.11% |
* Annualized
Return Ranking - Calendar
Period | MIXAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 0.3% | -5.4% | 7.6% | 97.99% |
2022 | -6.3% | -17.7% | -2.6% | 30.61% |
2021 | -1.7% | -4.0% | 4.4% | 60.92% |
2020 | -7.1% | -8.3% | 7.6% | 99.41% |
2019 | 3.4% | -2.3% | 9.3% | 11.94% |
Total Return Ranking - Trailing
Period | MIXAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | -0.2% | -5.1% | 11.2% | 78.36% |
1 Yr | 3.0% | -3.5% | 25.7% | 70.49% |
3 Yr | -0.4%* | -6.7% | 4.0% | 68.34% |
5 Yr | 1.4%* | -4.4% | 4.4% | 46.22% |
10 Yr | 1.6%* | -19.2% | 169.6% | 29.11% |
* Annualized
Total Return Ranking - Calendar
Period | MIXAX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 4.6% | -1.1% | 15.2% | 83.94% |
2022 | -4.5% | -17.3% | -1.3% | 40.82% |
2021 | -0.7% | -2.7% | 7.7% | 74.52% |
2020 | 3.1% | -4.4% | 14.5% | 84.90% |
2019 | 8.2% | 0.6% | 12.6% | 1.62% |
NAV & Total Return History
MIXAX - Holdings
Concentration Analysis
MIXAX | Category Low | Category High | MIXAX % Rank | |
---|---|---|---|---|
Net Assets | 168 M | 14.5 K | 57.3 B | 84.48% |
Number of Holdings | 179 | 2 | 9251 | 80.32% |
Net Assets in Top 10 | 84.5 M | 993 K | 6.33 B | 72.56% |
Weighting of Top 10 | 47.01% | 1.8% | 108.7% | 11.73% |
Top 10 Holdings
- U.S. Treasury Notes 20.25%
- U.S. Treasury Notes 11.89%
- U.S. Treasury Notes 2.73%
- U.S. Treasury Notes 2.50%
- iShares 1-5 Year Investment Grade Corporate Bond ETF 2.30%
- U.S. Treasury Notes 2.21%
- U.S. Treasury Notes 1.54%
- JPMorgan U.S. Government Money Market Fund, IM Class 1.22%
- U.S. Treasury Notes 1.20%
- Deutsche Bank AG 1.17%
Asset Allocation
Weighting | Return Low | Return High | MIXAX % Rank | |
---|---|---|---|---|
Bonds | 89.78% | 0.00% | 130.36% | 44.58% |
Other | 5.57% | -0.97% | 72.36% | 51.08% |
Convertible Bonds | 3.98% | 0.00% | 27.71% | 29.84% |
Cash | 2.34% | -20.59% | 62.18% | 54.51% |
Stocks | 0.00% | 0.00% | 103.64% | 81.77% |
Preferred Stocks | 0.00% | 0.00% | 22.27% | 78.70% |
Bond Sector Breakdown
Weighting | Return Low | Return High | MIXAX % Rank | |
---|---|---|---|---|
Corporate | 61.19% | 0.00% | 100.00% | 15.91% |
Securitized | 26.73% | 0.00% | 97.27% | 44.48% |
Government | 8.44% | 0.00% | 73.63% | 72.69% |
Cash & Equivalents | 1.22% | 0.00% | 62.18% | 61.55% |
Derivative | 0.01% | -0.55% | 28.01% | 37.55% |
Municipal | 0.00% | 0.00% | 17.46% | 88.79% |
Bond Geographic Breakdown
Weighting | Return Low | Return High | MIXAX % Rank | |
---|---|---|---|---|
US | 89.78% | 0.00% | 130.36% | 40.07% |
Non US | 0.00% | 0.00% | 83.16% | 82.13% |
MIXAX - Expenses
Operational Fees
MIXAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 0.75% | 0.01% | 3.24% | 42.99% |
Management Fee | 0.25% | 0.00% | 1.19% | 31.77% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 52.96% |
Administrative Fee | N/A | 0.01% | 0.50% | N/A |
Sales Fees
MIXAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | 1.00% | 0.50% | 5.75% | 98.75% |
Deferred Load | N/A | 0.50% | 4.00% | N/A |
Trading Fees
MIXAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 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.
MIXAX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 236.00% | 2.00% | 500.00% | 87.84% |
MIXAX - Distributions
Dividend Yield Analysis
MIXAX | Category Low | Category High | MIXAX % Rank | |
---|---|---|---|---|
Dividend Yield | 4.72% | 0.00% | 10.20% | 18.05% |
Dividend Distribution Analysis
MIXAX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
MIXAX | Category Low | Category High | MIXAX % Rank | |
---|---|---|---|---|
Net Income Ratio | 0.70% | -1.27% | 4.98% | 77.31% |
Capital Gain Distribution Analysis
MIXAX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Mar 28, 2024 | $0.036 | OrdinaryDividend |
Feb 29, 2024 | $0.034 | OrdinaryDividend |
Jan 31, 2024 | $0.037 | OrdinaryDividend |
Dec 20, 2023 | $0.037 | OrdinaryDividend |
Nov 30, 2023 | $0.036 | OrdinaryDividend |
Oct 31, 2023 | $0.036 | OrdinaryDividend |
Sep 29, 2023 | $0.034 | OrdinaryDividend |
Aug 31, 2023 | $0.035 | OrdinaryDividend |
Jul 31, 2023 | $0.035 | OrdinaryDividend |
Jun 30, 2023 | $0.034 | OrdinaryDividend |
May 31, 2023 | $0.021 | OrdinaryDividend |
Apr 28, 2023 | $0.024 | OrdinaryDividend |
Mar 31, 2023 | $0.029 | OrdinaryDividend |
Feb 28, 2023 | $0.026 | OrdinaryDividend |
Jan 31, 2023 | $0.027 | OrdinaryDividend |
Dec 20, 2022 | $0.022 | OrdinaryDividend |
Nov 30, 2022 | $0.028 | OrdinaryDividend |
Oct 31, 2022 | $0.025 | OrdinaryDividend |
Sep 30, 2022 | $0.019 | OrdinaryDividend |
Aug 31, 2022 | $0.017 | OrdinaryDividend |
Jul 29, 2022 | $0.015 | OrdinaryDividend |
Jun 30, 2022 | $0.013 | OrdinaryDividend |
May 31, 2022 | $0.010 | OrdinaryDividend |
Apr 29, 2022 | $0.008 | OrdinaryDividend |
Mar 31, 2022 | $0.008 | OrdinaryDividend |
Feb 28, 2022 | $0.007 | OrdinaryDividend |
Jan 31, 2022 | $0.000 | OrdinaryDividend |
Nov 30, 2021 | $0.004 | OrdinaryDividend |
Oct 29, 2021 | $0.007 | OrdinaryDividend |
Sep 30, 2021 | $0.007 | OrdinaryDividend |
Aug 31, 2021 | $0.007 | OrdinaryDividend |
Jul 30, 2021 | $0.005 | OrdinaryDividend |
Jun 30, 2021 | $0.004 | OrdinaryDividend |
May 28, 2021 | $0.005 | OrdinaryDividend |
Apr 30, 2021 | $0.004 | OrdinaryDividend |
Mar 31, 2021 | $0.005 | OrdinaryDividend |
Feb 26, 2021 | $0.013 | OrdinaryDividend |
Jan 29, 2021 | $0.013 | OrdinaryDividend |
Nov 30, 2020 | $0.007 | OrdinaryDividend |
Oct 30, 2020 | $0.007 | OrdinaryDividend |
Sep 30, 2020 | $0.010 | OrdinaryDividend |
Aug 31, 2020 | $0.010 | OrdinaryDividend |
Jul 31, 2020 | $0.011 | OrdinaryDividend |
Jun 30, 2020 | $0.012 | OrdinaryDividend |
May 29, 2020 | $0.014 | OrdinaryDividend |
Apr 30, 2020 | $0.015 | OrdinaryDividend |
Mar 31, 2020 | $0.014 | OrdinaryDividend |
Mar 29, 2020 | $0.014 | OrdinaryDividend |
Feb 28, 2020 | $0.016 | OrdinaryDividend |
Jan 31, 2020 | $0.015 | OrdinaryDividend |
Dec 19, 2019 | $0.217 | OrdinaryDividend |
Nov 29, 2019 | $0.037 | OrdinaryDividend |
Oct 31, 2019 | $0.020 | OrdinaryDividend |
Sep 30, 2019 | $0.020 | OrdinaryDividend |
Aug 30, 2019 | $0.020 | OrdinaryDividend |
Jul 31, 2019 | $0.020 | OrdinaryDividend |
Jun 28, 2019 | $0.022 | OrdinaryDividend |
May 31, 2019 | $0.023 | OrdinaryDividend |
Apr 30, 2019 | $0.023 | OrdinaryDividend |
Mar 29, 2019 | $0.022 | OrdinaryDividend |
Feb 28, 2019 | $0.023 | OrdinaryDividend |
Jan 31, 2019 | $0.024 | OrdinaryDividend |
Dec 20, 2018 | $0.023 | OrdinaryDividend |
Nov 30, 2018 | $0.024 | OrdinaryDividend |
Oct 31, 2018 | $0.021 | OrdinaryDividend |
Sep 28, 2018 | $0.021 | OrdinaryDividend |
Aug 31, 2018 | $0.020 | OrdinaryDividend |
Jul 31, 2018 | $0.018 | OrdinaryDividend |
Jun 29, 2018 | $0.020 | OrdinaryDividend |
May 31, 2018 | $0.017 | OrdinaryDividend |
Apr 30, 2018 | $0.020 | OrdinaryDividend |
Mar 29, 2018 | $0.028 | OrdinaryDividend |
Feb 28, 2018 | $0.020 | OrdinaryDividend |
Jan 31, 2018 | $0.018 | OrdinaryDividend |
Dec 21, 2017 | $0.017 | OrdinaryDividend |
Nov 30, 2017 | $0.017 | OrdinaryDividend |
Oct 31, 2017 | $0.019 | OrdinaryDividend |
Sep 29, 2017 | $0.019 | OrdinaryDividend |
Aug 31, 2017 | $0.020 | OrdinaryDividend |
Jul 31, 2017 | $0.024 | OrdinaryDividend |
Jun 30, 2017 | $0.020 | OrdinaryDividend |
May 31, 2017 | $0.018 | OrdinaryDividend |
Apr 28, 2017 | $0.019 | OrdinaryDividend |
Mar 31, 2017 | $0.018 | OrdinaryDividend |
Feb 28, 2017 | $0.018 | OrdinaryDividend |
Jan 31, 2017 | $0.021 | OrdinaryDividend |
Dec 15, 2016 | $0.019 | OrdinaryDividend |
Nov 30, 2016 | $0.018 | OrdinaryDividend |
Oct 31, 2016 | $0.019 | OrdinaryDividend |
Sep 30, 2016 | $0.021 | OrdinaryDividend |
Aug 31, 2016 | $0.027 | OrdinaryDividend |
Jul 29, 2016 | $0.019 | OrdinaryDividend |
Jun 30, 2016 | $0.021 | OrdinaryDividend |
May 31, 2016 | $0.020 | OrdinaryDividend |
Apr 29, 2016 | $0.019 | OrdinaryDividend |
Mar 31, 2016 | $0.020 | OrdinaryDividend |
Feb 29, 2016 | $0.021 | OrdinaryDividend |
Jan 29, 2016 | $0.019 | OrdinaryDividend |
Dec 16, 2015 | $0.020 | OrdinaryDividend |
Nov 30, 2015 | $0.019 | OrdinaryDividend |
Oct 30, 2015 | $0.020 | OrdinaryDividend |
Sep 30, 2015 | $0.024 | OrdinaryDividend |
Aug 31, 2015 | $0.020 | OrdinaryDividend |
Jul 31, 2015 | $0.019 | OrdinaryDividend |
Jun 30, 2015 | $0.020 | OrdinaryDividend |
May 29, 2015 | $0.018 | OrdinaryDividend |
Apr 30, 2015 | $0.019 | OrdinaryDividend |
Mar 31, 2015 | $0.020 | OrdinaryDividend |
Feb 27, 2015 | $0.021 | OrdinaryDividend |
Jan 30, 2015 | $0.019 | OrdinaryDividend |
Dec 16, 2014 | $0.020 | OrdinaryDividend |
Nov 28, 2014 | $0.028 | OrdinaryDividend |
Oct 31, 2014 | $0.021 | OrdinaryDividend |
Sep 29, 2014 | $0.020 | OrdinaryDividend |
Aug 29, 2014 | $0.020 | OrdinaryDividend |
Jul 31, 2014 | $0.020 | OrdinaryDividend |
Jun 27, 2014 | $0.020 | OrdinaryDividend |
May 30, 2014 | $0.020 | OrdinaryDividend |
Apr 30, 2014 | $0.020 | OrdinaryDividend |
Mar 28, 2014 | $0.019 | OrdinaryDividend |
Feb 28, 2014 | $0.020 | OrdinaryDividend |
Jan 31, 2014 | $0.020 | OrdinaryDividend |
Dec 16, 2013 | $0.024 | OrdinaryDividend |
Nov 29, 2013 | $0.018 | OrdinaryDividend |
Oct 31, 2013 | $0.018 | OrdinaryDividend |
Sep 27, 2013 | $0.017 | OrdinaryDividend |
Aug 30, 2013 | $0.015 | OrdinaryDividend |
Jul 31, 2013 | $0.015 | OrdinaryDividend |
Jun 26, 2013 | $0.014 | OrdinaryDividend |
May 31, 2013 | $0.015 | OrdinaryDividend |
Apr 30, 2013 | $0.014 | OrdinaryDividend |
Mar 28, 2013 | $0.013 | OrdinaryDividend |
Feb 28, 2013 | $0.015 | OrdinaryDividend |
Jan 31, 2013 | $0.009 | OrdinaryDividend |
Dec 03, 2012 | $0.025 | OrdinaryDividend |
Nov 30, 2012 | $0.014 | OrdinaryDividend |
Oct 31, 2012 | $0.016 | OrdinaryDividend |
Sep 27, 2012 | $0.015 | OrdinaryDividend |
Aug 31, 2012 | $0.016 | OrdinaryDividend |
Jul 31, 2012 | $0.019 | OrdinaryDividend |
Jun 28, 2012 | $0.018 | OrdinaryDividend |
May 31, 2012 | $0.018 | OrdinaryDividend |
Apr 30, 2012 | $0.018 | OrdinaryDividend |
Mar 30, 2012 | $0.020 | OrdinaryDividend |
Feb 29, 2012 | $0.016 | OrdinaryDividend |
Jan 31, 2012 | $0.017 | OrdinaryDividend |
Nov 30, 2011 | $0.021 | OrdinaryDividend |
Oct 31, 2011 | $0.022 | OrdinaryDividend |
Sep 29, 2011 | $0.021 | OrdinaryDividend |
Aug 31, 2011 | $0.024 | OrdinaryDividend |
Jul 29, 2011 | $0.027 | OrdinaryDividend |
Jun 29, 2011 | $0.026 | OrdinaryDividend |
May 31, 2011 | $0.025 | OrdinaryDividend |
Apr 29, 2011 | $0.025 | OrdinaryDividend |
Mar 30, 2011 | $0.025 | OrdinaryDividend |
Feb 28, 2011 | $0.025 | OrdinaryDividend |
Jan 31, 2011 | $0.018 | OrdinaryDividend |
Nov 30, 2010 | $0.024 | OrdinaryDividend |
Oct 29, 2010 | $0.025 | OrdinaryDividend |
Sep 29, 2010 | $0.027 | OrdinaryDividend |
Aug 31, 2010 | $0.027 | OrdinaryDividend |
Jul 30, 2010 | $0.028 | OrdinaryDividend |
Jun 29, 2010 | $0.028 | OrdinaryDividend |
May 28, 2010 | $0.028 | OrdinaryDividend |
Apr 30, 2010 | $0.028 | OrdinaryDividend |
Mar 30, 2010 | $0.028 | OrdinaryDividend |
MIXAX - Fund Manager Analysis
Managers
Kenneth Sommer
Start Date
Tenure
Tenure Rank
Nov 06, 2017
4.57
4.6%
Ken Sommer joined New York Life Investment Management LLC (predecessor of NYL Investors LLC) in 2005. Mr. Sommer is a Managing Director in the Investment Grade Portfolio Management team of NYL Investors' Fixed Income Investors. He assumed this role in 2018 and has over 15 years of investment experience. Previously, Mr. Sommer was a sector specialist overseeing all corporate bond execution for the Investment Grade Portfolio Management team. Prior to joining New York Life, he was an Investment Analyst at MetLife Investments. Mr. Sommer received a B.S. from Binghamton University and an M.B.A. from Fordham University.
AJ Rzad
Start Date
Tenure
Tenure Rank
May 04, 2018
4.08
4.1%
Mr. Rzad has managed the MainStay Balanced and MainStay Short Term Bond Funds since 2018. He is a Senior Managing Director and Head of Fixed Income Investors, within NYL Investors. Mr. Rzad has 27 years of investment management and financial services experience. Mr. Rzad joined New York Life in 2000 and previously served as Head of the Investment Grade Credit team where he oversaw all investment activity related to the public investment grade asset class. Prior to joining New York Life, Mr. Rzad held various investment related positions at MetLife, Lehman Brothers and PaineWebber. Mr. Rzad received a B.S. and an M.B.A from Cornell University and is a CFA® charterholder.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.07 | 28.77 | 6.14 | 2.41 |