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Trending ETFs

Name

As of 05/17/2024

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

$9.86

$784 M

7.67%

$0.76

1.49%

Vitals

YTD Return

16.8%

1 yr return

35.7%

3 Yr Avg Return

20.9%

5 Yr Avg Return

9.1%

Net Assets

$784 M

Holdings in Top 10

63.5%

52 WEEK LOW AND HIGH

$9.8
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.49%

SALES FEES

Front Load 5.50%

Deferred Load N/A

TRADING FEES

Turnover 28.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$15,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 05/17/2024

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

$9.86

$784 M

7.67%

$0.76

1.49%

CSHAX - Profile

Distributions

  • YTD Total Return 16.8%
  • 3 Yr Annualized Total Return 20.9%
  • 5 Yr Annualized Total Return 9.1%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.48%
DIVIDENDS
  • Dividend Yield 7.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    MainStay Cushing MLP Premier Fund
  • Fund Family Name
    MainStay Group of Funds
  • Inception Date
    Oct 20, 2010
  • Shares Outstanding
    30383938
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    John Musgrave

Fund Description

The Fund, under normal market conditions, invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in a portfolio of master limited partnerships (“MLPs”) and MLP-related investments (together, “MLP Investments”). The Fund’s MLP Investments may include, but are not limited to, investments that offer economic exposure to MLPs in the form of common or subordinated units issued by MLPs, securities of entities holding primarily general partner or managing member interests in MLPs, debt securities of MLPs, securities that are

derivatives of interests in MLPs, including indirect ownership interests in an MLP issued by an MLP affiliate (“I-Shares”) and businesses that operate like MLP Investments and have the economic characteristics of MLP Investments but are organized and taxed as “C”corporations or as limited liability companies. The Fund is non-diversified, which means it may invest a greater percentage of its assets in a limited number of issuers than a diversified fund, and it may invest in companies of any market capitalization size.

The Fund focuses primarily on midstream MLP Investments (“Midstream MLPs”) whose business models are often referred to as “toll road” businesses. Midstream MLPs collect, gather, transport and store natural resources and their byproducts (primarily crude oil, natural gas and refined petroleum products), generally without taking ownership of the physical commodity. Midstream MLPs may also operate ancillary businesses including the marketing of the products and logistical services. The Fund may also invest in MLPs involved in other segments of the natural resources sector, including propane, coal and shipping MLPs, as well as upstream MLPs focused on exploration and production of natural resources.

Cushing® Asset Management, LP, the Fund’s Subadvisor, seeks MLP Investments that have distributions that, in the Subadvisor’s view, are attractive relative to comparable MLP Investments and available unit pricing. The Subadvisor also focuses on MLP Investments with operations in the development, production, processing, refining, transportation, storage and marketing of natural resources. Among other things, the Subadvisor uses fundamental, proprietary research to seek to identify the most attractive MLP Investments with favorable distribution yields and distribution growth prospects. Distributions made by the Fund to shareholders may be considered dividend income, non-taxable returns of capital, capital gain or a combination thereof.

MLPs are generally treated as partnerships for U.S. federal income tax purposes and are generally organized under state law as limited partnerships or limited liability companies. To be treated as a partnership for U.S. federal income tax purposes, an MLP must derive at least 90% of its gross income for each taxable year from qualifying sources, including natural resources-based activities such as the exploration, development, mining, production, processing, refining, transportation, storage and certain marketing of mineral or natural resources. Currently, most MLPs operate in the natural resources, shipping or real estate sectors. Therefore, the Fund will, in normal circumstances, invest more than 25% of its assets (or concentrate its investments) in the natural resources industry, including MLPs operating in such industry.

The Fund may also invest in foreign securities, including among other things, Canadian royalty trusts and Canadian exploration and production companies. A Canadian royalty trust is an oil, gas or mineral company that is organized as a trust rather than as a traditional corporation and holds commodity producing properties. Canadian exploration and production companies are energy companies which focus on searching for and extracting oil and gas. 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.

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CSHAX - Performance

Return Ranking - Trailing

Period CSHAX Return Category Return Low Category Return High Rank in Category (%)
YTD 16.8% 9.7% 21.1% 18.81%
1 Yr 35.7% 17.5% 42.0% 17.82%
3 Yr 20.9%* 3.8% 29.4% 41.24%
5 Yr 9.1%* -7.7% 33.2% 61.63%
10 Yr N/A* -6.4% 11.0% 57.63%

* Annualized

Return Ranking - Calendar

Period CSHAX Return Category Return Low Category Return High Rank in Category (%)
2023 5.1% -14.9% 18.2% 75.47%
2022 13.0% -7.0% 29.9% 69.61%
2021 22.0% 4.2% 55.3% 81.37%
2020 -38.2% -57.4% 155.1% 74.26%
2019 2.6% -8.9% 18.9% 52.75%

Total Return Ranking - Trailing

Period CSHAX Return Category Return Low Category Return High Rank in Category (%)
YTD 16.8% 9.7% 21.1% 18.81%
1 Yr 35.7% 17.5% 42.0% 17.82%
3 Yr 20.9%* 3.8% 29.4% 41.24%
5 Yr 9.1%* -7.7% 33.2% 61.63%
10 Yr N/A* -6.4% 11.0% 62.71%

* Annualized

Total Return Ranking - Calendar

Period CSHAX Return Category Return Low Category Return High Rank in Category (%)
2023 15.0% -9.3% 25.5% 50.00%
2022 24.0% -1.2% 38.8% 46.08%
2021 38.4% 11.1% 56.2% 66.67%
2020 -28.2% -53.9% 155.1% 60.40%
2019 13.3% -3.4% 22.4% 43.96%

NAV & Total Return History


CSHAX - Holdings

Concentration Analysis

CSHAX Category Low Category High CSHAX % Rank
Net Assets 784 M 22 M 53.1 B 41.07%
Number of Holdings 26 16 85 63.21%
Net Assets in Top 10 498 M 19.6 M 3.37 B 41.51%
Weighting of Top 10 63.46% 40.8% 114.0% 60.38%

Top 10 Holdings

  1. Energy Transfer LP 9.15%
  2. Targa Resources Corp. 8.77%
  3. Plains GP Holdings LP, Class A 7.42%
  4. Cheniere Energy, Inc. 6.89%
  5. ONEOK, Inc. 6.61%
  6. Equitrans Midstream Corp. 5.43%
  7. Kinder Morgan, Inc. 4.99%
  8. Western Midstream Partners LP 4.78%
  9. Pembina Pipeline Corp. 4.75%
  10. Williams Cos., Inc. (The) 4.68%

Asset Allocation

Weighting Return Low Return High CSHAX % Rank
Stocks
68.23% 53.33% 133.88% 97.17%
Cash
1.52% 0.00% 13.58% 48.11%
Preferred Stocks
0.00% 0.00% 2.23% 63.21%
Other
0.00% -36.30% 4.52% 44.34%
Convertible Bonds
0.00% 0.00% 5.29% 56.60%
Bonds
0.00% -0.01% 40.73% 54.72%

Stock Sector Breakdown

Weighting Return Low Return High CSHAX % Rank
Energy
94.44% 53.73% 100.00% 62.26%
Utilities
5.56% 0.00% 41.78% 24.53%
Technology
0.00% 0.00% 2.43% 69.81%
Real Estate
0.00% 0.00% 0.00% 56.60%
Industrials
0.00% 0.00% 4.54% 67.92%
Healthcare
0.00% 0.00% 0.00% 56.60%
Financial Services
0.00% 0.00% 0.66% 58.49%
Communication Services
0.00% 0.00% 0.00% 56.60%
Consumer Defense
0.00% 0.00% 0.82% 56.60%
Consumer Cyclical
0.00% 0.00% 1.07% 61.32%
Basic Materials
0.00% 0.00% 6.40% 76.42%

Stock Geographic Breakdown

Weighting Return Low Return High CSHAX % Rank
US
66.37% 48.92% 133.30% 97.17%
Non US
1.86% 0.00% 26.09% 50.00%

CSHAX - Expenses

Operational Fees

CSHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.49% 0.35% 8.81% 73.33%
Management Fee 1.10% 0.35% 1.38% 75.89%
12b-1 Fee 0.25% 0.00% 1.00% 36.21%
Administrative Fee N/A 0.04% 0.15% N/A

Sales Fees

CSHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.50% 4.50% 5.75% 70.00%
Deferred Load N/A 1.00% 1.00% N/A

Trading Fees

CSHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A N/A N/A 19.23%

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.

CSHAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 28.00% 6.00% 166.00% 32.00%

CSHAX - Distributions

Dividend Yield Analysis

CSHAX Category Low Category High CSHAX % Rank
Dividend Yield 7.67% 0.00% 15.34% 15.18%

Dividend Distribution Analysis

CSHAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annual Quarterly Annual

Net Income Ratio Analysis

CSHAX Category Low Category High CSHAX % Rank
Net Income Ratio 0.48% -6.38% 6.88% 38.10%

Capital Gain Distribution Analysis

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

Distributions History

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CSHAX - Fund Manager Analysis

Managers

John Musgrave


Start Date

Tenure

Tenure Rank

Jan 06, 2020

2.4

2.4%

John Musgrave has worked as an investment analyst in the energy industry since 2004. Mr. Musgrave previously worked in Citigroup’s investment banking division where he focused on corporate finance and mergers & acquisitions in a wide range of industries, including energy MLPs. He also worked as an analyst for UBS Investment Bank’s Global Energy Group. Mr. Musgrave joined Cushing Asset Management in 2007, and his roles include research and portfolio management for the firm’s MLP-related funds. Mr. Musgrave received his B.B.A. in Finance from Texas A&M University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 15.78 7.76 12.18