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Trending ETFs

Name

As of 12/10/2024

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

$19.92

$1.56 B

1.06%

$0.21

0.95%

Vitals

YTD Return

10.9%

1 yr return

13.7%

3 Yr Avg Return

2.3%

5 Yr Avg Return

9.9%

Net Assets

$1.56 B

Holdings in Top 10

22.5%

52 WEEK LOW AND HIGH

$20.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 0.95%

SALES FEES

Front Load 5.50%

Deferred Load N/A

TRADING FEES

Turnover 49.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$15,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 12/10/2024

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

$19.92

$1.56 B

1.06%

$0.21

0.95%

MCOAX - Profile

Distributions

  • YTD Total Return 10.9%
  • 3 Yr Annualized Total Return 2.3%
  • 5 Yr Annualized Total Return 9.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.19%
DIVIDENDS
  • Dividend Yield 1.1%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    NYLI MacKay Convertible Fund
  • Fund Family Name
    Mainstay Group of Funds
  • Inception Date
    Jan 03, 1995
  • Shares Outstanding
    40674365
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Edward Silverstein

Fund Description

The Fund, under normal circumstances, invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in "convertible securities" such as bonds, debentures, corporate notes, and preferred stocks or other securities that are convertible into common stock or the cash value of a stock or a basket or index of equity securities. The balance of the Fund may be invested or held in non-convertible debt, equity securities that do not pay regular dividends, U.S. government securities, and cash or cash equivalents.

Investment Process: The Fund takes a flexible approach by investing in a broad range of securities of a variety of companies and industries. The Fund invests in investment grade and below investment grade debt securities. Below investment grade securities are generally securities that receive low ratings from a nationally recognized statistical rating organization (“NRSRO”), or if unrated, are determined to be of equivalent quality by MacKay Shields LLC, the Fund's Subadvisor. Securities that are rated below investment grade by independent rating agencies are commonly referred to as “high-yield securities” or "junk bonds." The Subadvisor may also invest without restriction in securities with lower ratings from a NRSRO. 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.

In selecting convertible securities for purchase or sale, the Subadvisor takes into account a variety of investment considerations, including the potential return of the common stock into which the convertible security is convertible, credit risk, projected interest return, and the premium for the convertible security relative to the underlying common stock.

The Subadvisor’s investment process includes a risk analysis that gives consideration to a variety of security-specific risks, including but not limited to, environmental, social and governance (“ESG”) risks that may have a material impact on the performance of a security. In addition to proprietary research, the Subadvisor may use screening tools and, to the extent available, third party data to identify ESG risk factors that may not have been captured through its own research. The Subadvisor’s consideration of ESG risk is weighed against other criteria and no sectors or industries are explicitly excluded from the Fund.

The Fund may also invest in "synthetic" convertible securities, which are derivative positions composed of two or more securities whose investment characteristics, taken together, resemble those of traditional convertible securities. Unlike traditional convertible securities whose conversion values are based on the common stock of the issuer of the convertible security, "synthetic" and "exchangeable" convertible securities are preferred stocks or debt obligations of an issuer which are structured with an embedded equity component whose conversion value is based on the value of the common stocks of one or more different issuers or a particular benchmark (which may include indices, baskets of domestic stocks, commodities, a foreign issuer or basket of foreign stocks, or a company whose stock is not yet publicly traded). The value of a synthetic convertible is the sum of the values of its preferred stock or debt obligation component and its convertible component.

The Fund may invest in foreign securities, which are securities issued by companies organized outside the United States or that trade primarily in non-U.S. securities markets. 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.

The Subadvisor may sell a security if it believes the security will no longer contribute to meeting the investment objective of the Fund. In considering whether to sell a security, the Subadvisor may evaluate, among other things, the condition of the economy, meaningful changes in the issuer's financial condition, changes in credit risk, and changes in projected interest return.

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MCOAX - Performance

Return Ranking - Trailing

Period MCOAX Return Category Return Low Category Return High Rank in Category (%)
YTD 10.9% 0.3% 19.7% 85.53%
1 Yr 13.7% 5.6% 24.3% 85.53%
3 Yr 2.3%* -13.2% 4.2% 25.33%
5 Yr 9.9%* -6.1% 12.6% 36.62%
10 Yr 8.7%* -0.1% 11.4% 26.32%

* Annualized

Return Ranking - Calendar

Period MCOAX Return Category Return Low Category Return High Rank in Category (%)
2023 4.4% -7.7% 13.1% 75.32%
2022 -15.4% -37.8% -12.8% 15.79%
2021 -11.2% -18.9% 2.4% 44.74%
2020 25.9% 5.9% 54.0% 69.44%
2019 19.0% 9.9% 24.4% 26.39%

Total Return Ranking - Trailing

Period MCOAX Return Category Return Low Category Return High Rank in Category (%)
YTD 10.9% 0.3% 19.7% 85.53%
1 Yr 13.7% 5.6% 24.3% 85.53%
3 Yr 2.3%* -13.2% 4.2% 25.33%
5 Yr 9.9%* -6.1% 12.6% 36.62%
10 Yr 8.7%* -0.1% 11.4% 26.32%

* Annualized

Total Return Ranking - Calendar

Period MCOAX Return Category Return Low Category Return High Rank in Category (%)
2023 8.9% -7.7% 15.3% 45.45%
2022 -12.3% -37.8% -10.6% 14.47%
2021 9.9% -12.2% 11.3% 10.53%
2020 35.0% 8.7% 64.4% 70.83%
2019 22.1% 12.2% 28.7% 63.89%

NAV & Total Return History


MCOAX - Holdings

Concentration Analysis

MCOAX Category Low Category High MCOAX % Rank
Net Assets 1.56 B 13.4 M 3.69 B 16.88%
Number of Holdings 110 41 381 48.05%
Net Assets in Top 10 350 M 3.92 M 608 M 7.79%
Weighting of Top 10 22.54% 9.5% 46.5% 41.56%

Top 10 Holdings

  1. MainStay U.S. Government Liquidity Fund, Class I 4.75%
  2. TransMedics Group, Inc. 2.32%
  3. Lantheus Holdings, Inc. 2.31%
  4. Microchip Technology, Inc. 2.24%
  5. Tetra Tech, Inc. 2.08%
  6. BioMarin Pharmaceutical, Inc. 1.82%
  7. Merit Medical Systems, Inc. 1.77%
  8. Southwest Airlines Co. 1.76%
  9. Post Holdings, Inc. 1.75%
  10. Ford Motor Co. 1.74%

Asset Allocation

Weighting Return Low Return High MCOAX % Rank
Bonds
88.63% 0.00% 98.77% 38.96%
Convertible Bonds
82.98% 37.15% 99.72% 37.66%
Cash
6.95% -78.94% 7.59% 5.19%
Preferred Stocks
5.02% 0.00% 22.50% 81.82%
Stocks
1.31% 0.00% 23.09% 32.47%
Other
0.00% -17.11% 5.40% 57.14%

Stock Sector Breakdown

Weighting Return Low Return High MCOAX % Rank
Energy
40.56% 0.00% 40.56% 1.43%
Industrials
20.62% 0.00% 23.08% 7.14%
Financial Services
20.48% 0.00% 20.48% 1.43%
Utilities
18.34% 0.00% 100.00% 90.00%
Healthcare
0.01% 0.00% 20.31% 62.86%
Technology
0.00% 0.00% 23.73% 52.86%
Real Estate
0.00% 0.00% 27.87% 45.71%
Communication Services
0.00% 0.00% 100.00% 42.86%
Consumer Defense
0.00% 0.00% 25.78% 50.00%
Consumer Cyclical
0.00% 0.00% 24.79% 50.00%
Basic Materials
0.00% 0.00% 24.08% 44.29%

Stock Geographic Breakdown

Weighting Return Low Return High MCOAX % Rank
US
1.31% 0.00% 22.42% 27.27%
Non US
0.00% 0.00% 1.55% 42.86%

Bond Sector Breakdown

Weighting Return Low Return High MCOAX % Rank
Corporate
93.81% 91.11% 100.00% 74.03%
Cash & Equivalents
6.95% 0.00% 7.86% 6.49%
Derivative
0.00% 0.00% 0.76% 54.55%
Securitized
0.00% 0.00% 0.00% 35.06%
Municipal
0.00% 0.00% 0.00% 35.06%
Government
0.00% 0.00% 2.94% 41.56%

Bond Geographic Breakdown

Weighting Return Low Return High MCOAX % Rank
US
88.63% 0.00% 98.77% 35.06%
Non US
0.00% 0.00% 17.05% 51.95%

MCOAX - Expenses

Operational Fees

MCOAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.95% 0.20% 2.87% 62.34%
Management Fee 0.55% 0.20% 1.00% 22.08%
12b-1 Fee 0.25% 0.00% 1.00% 43.48%
Administrative Fee N/A 0.04% 0.15% N/A

Sales Fees

MCOAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load 5.50% 2.25% 5.75% 37.50%
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

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

MCOAX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 49.00% 30.00% 154.00% 28.99%

MCOAX - Distributions

Dividend Yield Analysis

MCOAX Category Low Category High MCOAX % Rank
Dividend Yield 1.06% 0.00% 4.30% 2.60%

Dividend Distribution Analysis

MCOAX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Quarterly Quarterly Quarterly

Net Income Ratio Analysis

MCOAX Category Low Category High MCOAX % Rank
Net Income Ratio 0.19% -3.72% 3.69% 60.53%

Capital Gain Distribution Analysis

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

Distributions History

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MCOAX - Fund Manager Analysis

Managers

Edward Silverstein


Start Date

Tenure

Tenure Rank

May 01, 2001

21.1

21.1%

Mr. Silverstein became a portfolio manager of the MainStay MacKay Convertible Fund in 2001. He is a Senior Managing Director and Head of Convertibles at MacKay Shields, where he oversees the management and research of the firm’s Convertible strategy. He joined the firm as a Research Analyst in 1998, becoming a Portfolio Manager/Research Analyst in 1999. Prior to joining MacKay Shields, he worked as a Portfolio Manager and Law Clerk at the Bank of New York. He also interned at the New York Stock Exchange Enforcement Division. He has a BS from the University of Vermont, an MBA from the Baruch College and a JD from Brooklyn Law School. He is a CFA® charterholder and also a member of the New York State Bar. He authored, “Wise Up!: A Portfolio Manager's Guide to Better Investment Decisions”. He has been working in the investment industry since 1995.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.25 36.97 10.28 7.42