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Trending ETFs

Name

As of 03/26/2024

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

MainStay Balanced Fund

MBERX | Fund

$30.59

$449 M

1.54%

$0.47

0.73%

Vitals

YTD Return

2.2%

1 yr return

11.5%

3 Yr Avg Return

3.9%

5 Yr Avg Return

7.0%

Net Assets

$449 M

Holdings in Top 10

31.1%

52 WEEK LOW AND HIGH

$30.6
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.73%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 182.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$0

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

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

MainStay Balanced Fund

MBERX | Fund

$30.59

$449 M

1.54%

$0.47

0.73%

MBERX - Profile

Distributions

  • YTD Total Return 2.2%
  • 3 Yr Annualized Total Return 3.9%
  • 5 Yr Annualized Total Return 7.0%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.12%
DIVIDENDS
  • Dividend Yield 1.5%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    MainStay Balanced Fund
  • Fund Family Name
    MainStay Group of Funds
  • Inception Date
    Dec 15, 2017
  • Shares Outstanding
    1859
  • Share Class
    R6
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Jae Yoon

Fund Description

The Fund invests approximately 60% of its assets (net assets plus any borrowings for investment purposes) in stocks and 40% of its assets in fixed-income securities (such as bonds) and cash equivalents. Although this 60/40 ratio may vary, under normal market conditions, the Fund has adopted a fundamental policy that it will be a "balanced" fund. This fundamental policy cannot be changed without the approval of the Fund's shareholders. As a "balanced" fund, the Fund will invest at least 25% of the value of its assets (net assets plus any borrowings for investment purposes) in fixed-income securities. Asset allocation decisions are made by New York Life Investment Management LLC, the Fund’s Manager, based on its tactical view of the market. The Fund may invest in exchange-traded funds (“ETFs”), including ETFs advised by affiliates of the Manager and ETFs advised by unaffiliated advisers, to facilitate rebalancing the Fund’s allocation between equity and fixed-income exposures.

The Fund may invest up to 20% of its net assets in foreign securities, but only in such securities that NYL Investors LLC (“NYL Investors”), the Subadvisor for the fixed-income portion of the Fund, and Wellington Management Company LLP (“Wellington”), the Subadvisor for the equity portion of the Fund, select in accordance with each Subadvisor's investment process described below. The Fund may also invest in derivatives, such as futures and options, to try to enhance returns or reduce the risk of loss by hedging certain of its holdings.

Under normal market conditions, the Subadvisors seek to keep the portfolio fully invested rather than taking temporary cash positions with respect to their portions of the Fund's assets. The Subadvisors will sell a security if it becomes relatively overvalued, if better opportunities are identified, or if they determine that the initial investment expectations are not being met.

Equity Investment Process: Wellington invests in equity securities issued by companies of any size or market capitalization range. While Wellington does not limit its investments to issuers within a particular capitalization range, it generally invests in large capitalization companies (as represented by the market cap range of the Russell 1000® Index, which ranged from $270 million to $3 trillion as of December 31, 2023). Wellington may invest in securities of foreign issuers, including emerging market securities. An issuer of a security is considered to be a U.S. or foreign issuer based on the issuer's "country of risk," (or similar designation) as determined by a third-party such as Bloomberg. Wellington defines emerging market countries as those countries that are included in the MSCI Emerging Markets Index.

Wellington seeks to identify companies that are financially sound but temporarily out-of-favor, and that provide above-average potential total returns at below average valuations. Wellington employs a “bottom-up” approach to investment research, and seeks to capitalize on investor behavioral biases by investing in companies with an attractive combination of valuation, quality and capital return, and by taking a long-term view. Quality can be assessed across metrics including free cash flow margin, return on invested capital and net debt to EBITDA (earning before interest, taxes, depreciation and amortization). Wellington may sell stocks when Wellington’s target price is achieved, Wellington’s fundamental outlook with respect to the stock has changed, or in the event Wellington believes more attractive investment alternatives exist.

To better assess strategic business issues that impact the performance of a company, Wellington may also give consideration to financially material environmental, social and/or governance (“ESG”) factors. Wellington has discretion to determine the materiality of, as well as the level at which, financially relevant ESG factors are imbedded into its overall fundamental analysis when making an investment decision.

Fixed-Income Investment Process: NYL Investors generally invests in U.S. government securities, mortgage-backed securities, asset-backed securities and investment grade corporate bonds. NYL Investors selects fixed-income securities based on their credit quality, duration and price. The fixed-income portion of the portfolio normally has an intermediate term duration that ranges from three to five 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. For example, the market price of a debt security with a duration of four years would be expected to fall approximately 4% if interest rates rose by one percentage point immediately. The Fund typically invests in investment grade securities, as rated by a nationally recognized statistical rating organization when purchased, or if unrated, determined by NYL Investors to be of comparable quality.

NYL Investors’ 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, NYL Investors may use third-party ESG data to compare internal views with external perspectives.

The Fund's investments may include variable rate notes, floating rate notes and mortgage-related securities (including mortgage-backed) securities, which are debt securities whose values are based on underlying pools of mortgages, and asset-backed securities, which are debt securities whose values are based on underlying pools of credit receivables.

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MBERX - Performance

Return Ranking - Trailing

Period MBERX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.2% -0.9% 22.3% 90.77%
1 Yr 11.5% -5.2% 41.2% 88.81%
3 Yr 3.9%* -5.4% 8.2% 38.86%
5 Yr 7.0%* -4.0% 15.4% 55.22%
10 Yr N/A* 0.7% 10.9% 31.13%

* Annualized

Return Ranking - Calendar

Period MBERX Return Category Return Low Category Return High Rank in Category (%)
2023 4.9% -12.2% 23.9% 88.90%
2022 -7.5% -34.7% 2.8% 3.28%
2021 -5.9% -11.9% 18.1% 96.02%
2020 5.1% -20.9% 39.7% 73.57%
2019 12.3% 0.8% 25.7% 69.48%

Total Return Ranking - Trailing

Period MBERX Return Category Return Low Category Return High Rank in Category (%)
YTD 2.2% -0.9% 22.3% 90.77%
1 Yr 11.5% -5.2% 41.2% 88.81%
3 Yr 3.9%* -5.4% 8.2% 38.86%
5 Yr 7.0%* -4.0% 15.4% 55.22%
10 Yr N/A* 0.7% 10.9% 28.67%

* Annualized

Total Return Ranking - Calendar

Period MBERX Return Category Return Low Category Return High Rank in Category (%)
2023 7.5% -12.2% 26.8% 93.68%
2022 -5.7% -29.0% 10.9% 4.70%
2021 17.0% -3.0% 24.2% 11.06%
2020 7.8% -19.5% 40.6% 81.45%
2019 16.8% 4.4% 32.7% 82.19%

NAV & Total Return History


MBERX - Holdings

Concentration Analysis

MBERX Category Low Category High MBERX % Rank
Net Assets 449 M 733 K 195 B 63.50%
Number of Holdings 240 2 15716 33.01%
Net Assets in Top 10 141 M 618 K 62.8 B 69.21%
Weighting of Top 10 31.13% 11.4% 118.9% 67.82%

Top 10 Holdings

  1. U.S. Treasury Notes 6.47%
  2. U.S. Treasury Notes 5.07%
  3. iShares Intermediate Government/Credit Bond ETF 4.23%
  4. U.S. Treasury Notes 3.22%
  5. U.S. Treasury Notes 2.45%
  6. iShares Russell 1000 Value ETF 2.19%
  7. JPMorgan Chase Co. 2.15%
  8. Vanguard Russell 1000 Value 1.97%
  9. Johnson Johnson 1.70%
  10. Merck Co., Inc. 1.67%

Asset Allocation

Weighting Return Low Return High MBERX % Rank
Stocks
55.75% 0.00% 103.09% 80.03%
Bonds
33.59% 0.00% 77.27% 26.77%
Cash
1.66% -10.21% 100.00% 47.43%
Convertible Bonds
0.72% 0.00% 23.84% 34.36%
Other
0.09% -41.62% 117.44% 34.12%
Preferred Stocks
0.00% 0.00% 23.88% 29.82%

Stock Sector Breakdown

Weighting Return Low Return High MBERX % Rank
Healthcare
22.41% 0.00% 29.35% 2.10%
Financial Services
18.83% 0.00% 38.77% 8.54%
Industrials
13.23% 0.00% 24.37% 9.52%
Technology
11.36% 0.00% 44.21% 89.78%
Communication Services
6.53% 0.00% 38.10% 62.32%
Consumer Cyclical
6.36% 0.00% 19.36% 83.33%
Utilities
6.12% 0.00% 99.55% 11.48%
Energy
5.84% 0.00% 85.65% 34.87%
Real Estate
4.96% 0.00% 65.01% 28.85%
Consumer Defense
3.23% 0.00% 15.14% 88.10%
Basic Materials
1.13% 0.00% 33.35% 92.58%

Stock Geographic Breakdown

Weighting Return Low Return High MBERX % Rank
US
55.21% 0.00% 103.09% 75.03%
Non US
0.54% 0.00% 38.68% 25.80%

Bond Sector Breakdown

Weighting Return Low Return High MBERX % Rank
Government
40.93% 0.00% 97.26% 20.11%
Corporate
26.14% 0.00% 98.21% 64.94%
Securitized
6.07% 0.00% 92.13% 77.93%
Cash & Equivalents
0.24% 0.00% 100.00% 68.24%
Derivative
0.04% -3.07% 46.02% 22.33%
Municipal
0.00% 0.00% 24.80% 65.22%

Bond Geographic Breakdown

Weighting Return Low Return High MBERX % Rank
US
33.59% 0.00% 77.27% 25.80%
Non US
0.00% 0.00% 14.17% 19.83%

MBERX - Expenses

Operational Fees

MBERX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.73% 0.03% 17.63% 72.83%
Management Fee 0.65% 0.00% 1.83% 78.79%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.83% N/A

Sales Fees

MBERX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 5.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

MBERX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 0.00% 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.

MBERX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 182.00% 0.00% 343.00% 95.70%

MBERX - Distributions

Dividend Yield Analysis

MBERX Category Low Category High MBERX % Rank
Dividend Yield 1.54% 0.00% 15.60% 43.39%

Dividend Distribution Analysis

MBERX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annually SemiAnnual Annual

Net Income Ratio Analysis

MBERX Category Low Category High MBERX % Rank
Net Income Ratio 1.12% -2.34% 19.41% 51.20%

Capital Gain Distribution Analysis

MBERX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Monthly Annually

Distributions History

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MBERX - Fund Manager Analysis

Managers

Jae Yoon


Start Date

Tenure

Tenure Rank

Jan 01, 2011

11.42

11.4%

Jae Yoon, CFA. From 2005-2009, Mr. Yoon was employed by New York Life Investments where he led the Investment Consulting Group. In 2009, Mr. Yoon joined MacKay Shields LLC as a Senior Managing Director responsible for Risk Management. In his role at MacKay Shields, Mr. Yoon worked side-by-side with the portfolio managers directly enhancing the risk management processes across all portfolios. In January 2011, Mr. Yoon re-joined New York Life Investments and leads the Investment Consulting Group. Mr. Yoon obtained a B.S. and a Masters degree from Cornell University and attended New York University’s Stern School of Business MBA program. He earned his Chartered Financial Analyst designation in 1998 and has been in the investment industry since 1991.

Jonathan Swaney


Start Date

Tenure

Tenure Rank

Feb 28, 2017

5.25

5.3%

Jonathan Swaney was an employee of New York Life Investments from 1997-2009 and was responsible both for managing quantitative equity portfolios and performing research at New York Life Investments’ Equity Investors Group. Also within New York Life Investments, Mr. Swaney previously worked with the Investment Consulting Group and was a portfolio manager with the Quantitative Strategies unit. In 2009, Mr. Swaney joined Madison Square Investors LLC, an indirect, wholly-owned subsidiary of New York Life. While at Madison Square Investors LLC, Mr. Swaney was responsible both for managing quantitative equity portfolios and performing research. In January 2011, Mr. Swaney re-joined New York Life Investments as part of the Investment Consulting Group. Mr. Swaney began his career in financil services working on the fixed income desk at the Vanguard Group after earned his B.A. in Political Science from The College of William & Mary in 1991. He also spent several years with a hedge fund of funds before coming to New York Life Investments in 1997.

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.

Adam Illfelder


Start Date

Tenure

Tenure Rank

Mar 05, 2021

1.24

1.2%

Adam H. Illfelder, CFA, is Senior Managing Director and Portfolio Manager and joined Wellington in 2005. He has been involved in portfolio management for the equity portion of the Fund since 2017 and has been involved in securities analysis for the Fund since 2008. He has 23 years of investment management experience. Mr. Illfelder earned his MBA from Northwestern University (Kellogg, 2001) and his BS in economics from the University of Pennsylvania (1997). Additionally, he holds the Chartered Financial Analyst designation and is a member of the CFA Institute.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 34.51 6.33 2.41