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MainStay MacKay Convertible Fund
mutual fund
MCINX
Dividend policy
Suspended
Price as of:
$23.94
-0.26
0%
primary theme
Convertible Bond
share class
MCINX (Mutual Fund)
MainStay MacKay Convertible Fund
Dividend policy
Suspended
Price as of:
$23.94
-0.26
0%
primary theme
Convertible Bond
share class
MCINX (Mutual Fund)
MainStay MacKay Convertible Fund
Dividend policy
Suspended
Price as of:
$23.94
-0.26
0%
primary theme
Convertible Bond
share class
MCINX - Snapshot
Vitals
- YTD Return 3.9%
- 3 Yr Annualized Return 17.1%
- 5 Yr Annualized Return 15.3%
- Net Assets $1.88 B
- Holdings in Top 10 22.9%
52 WEEK LOW AND HIGH
$24.20
$17.01
$25.09
Expenses
OPERATING RELATED FEES
- Expense Ratio 1.16%
SALES FEES
- Front Load 5.00%
- Deferred Load N/A
BROKERAGE FEES
- Turnover 46.00%
TRADING FEES
- Max Redemption Fee N/A
Min Investment
- Standard (Taxable) $1,000
- IRA N/A
Fund Classification
- Primary Theme Convertible Bond
- Fund Type Open End Mutual Fund
- Investment Style Convertibles
Overview
Next Dividend
Income Profile
Income Risk
Returns Profile
Allocations
Expenses
About
Dividend.com Ratings*
$29.27
-0.91%
$5.10 B
0.98%
$0.29
blocked
blocked
blocked
3.43%
0.83%
$43.99
-1.17%
$2.91 B
0.79%
$0.35
blocked
blocked
blocked
1.90%
0.71%
$30.95
-1.09%
$2.62 B
1.24%
$0.39
blocked
blocked
blocked
3.03%
1.17%
$41.90
-1.13%
$2.21 B
2.69%
$1.14
blocked
blocked
blocked
4.80%
0.63%
$19.31
-1.13%
$1.76 B
0.78%
$0.15
blocked
blocked
blocked
0.99%
0.86%
Overview
Next Dividend
Income Profile
Income Risk
Returns Profile
Allocations
Expenses
About
Dividend.com Ratings*
$83.98
-1.11%
$6.59 B
2.25%
$1.91
blocked
blocked
blocked
2.60%
0.40%
$50.61
-1.22%
$281.92 M
0.94%
$0.48
blocked
blocked
blocked
4.76%
0.95%
MCINX - Profile
Distributions
- YTD Total Return 3.9%
- 3 Yr Annualized Total Return 15.1%
- 5 Yr Annualized Total Return 14.2%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 0.13%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Quarterly
Fund Details
-
Legal NameMainStay MacKay Convertible Fund
-
Fund Family NameNew York Life Investment Management LLC
-
Inception DateFeb 28, 2008
-
Shares Outstanding2323285
-
Share ClassInv
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerEdward 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.
MCINX - Performance
Return Ranking - Trailing
| Period | MCINX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.9% | -1.6% | 7.7% | 16.47% |
| 1 Yr | 61.1% | 34.8% | 86.7% | 67.44% |
| 3 Yr | 17.1%* | 5.7% | 25.8% | 68.67% |
| 5 Yr | 15.3%* | 7.9% | 22.0% | 68.29% |
| 10 Yr | 10.0%* | 5.7% | 12.9% | 66.67% |
* Annualized
Return Ranking - Calendar
| Period | MCINX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2020 | 25.9% | -4.1% | 54.0% | 70.37% |
| 2019 | 19.0% | 4.5% | 24.4% | 28.40% |
| 2018 | -8.4% | -15.4% | -2.5% | 43.59% |
| 2017 | 3.2% | -7.8% | 15.4% | 75.00% |
| 2016 | 7.8% | 0.4% | 14.2% | 33.78% |
Total Return Ranking - Trailing
| Period | MCINX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 3.9% | -1.6% | 7.7% | 15.29% |
| 1 Yr | 53.1% | 30.7% | 86.7% | 76.74% |
| 3 Yr | 15.1%* | 5.7% | 25.8% | 77.11% |
| 5 Yr | 14.2%* | 7.7% | 22.0% | 75.61% |
| 10 Yr | 9.4%* | 5.7% | 12.9% | 73.61% |
* Annualized
Total Return Ranking - Calendar
| Period | MCINX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2020 | 25.9% | -4.1% | 54.0% | 70.37% |
| 2019 | 19.0% | 4.5% | 24.4% | 28.40% |
| 2018 | -2.8% | -15.4% | 4.5% | 25.64% |
| 2017 | 10.7% | 1.8% | 18.4% | 65.79% |
| 2016 | 11.2% | 0.4% | 16.5% | 25.68% |
NAV & Total Return History
MCINX - Holdings
Concentration Analysis
| MCINX | Category Low | Category High | MCINX % Rank | |
|---|---|---|---|---|
| Net Assets | 1.88 B | 15.6 M | 6.59 B | 33.33% |
| Number of Holdings | 134 | 42 | 367 | 55.17% |
| Net Assets in Top 10 | 450 M | -17.5 M | 1.03 B | 19.54% |
| Weighting of Top 10 | 22.93% | 9.4% | 83.2% | 31.03% |
Top 10 Holdings
- Danaher Corp 4.12%
- Danaher Corporation 0% 3.83%
- Tesla Inc 1.25% 3.28%
- Inphi Corp 0.75% 2.84%
- Danaher Corp PRF CONVERT 15/04/2022 USD - Ser A 2.71%
- MainStay US Government Liquidity I 2.70%
- Anthem Inc 2.75% 2.54%
- Southwest Airlines Co. 1.25% 2.37%
- Nice Limited 0% 2.24%
- Chart Industries Inc 1% 2.15%
Asset Allocation
| Weighting | Return Low | Return High | MCINX % Rank | |
|---|---|---|---|---|
| Convertible Bonds | 88.39% | 3.48% | 116.38% | 26.44% |
| Preferred Stocks | 6.22% | 0.00% | 18.99% | 83.91% |
| Cash | 2.27% | 0.00% | 9.92% | 50.57% |
| Stocks | 2.16% | 0.00% | 30.60% | 86.21% |
| Other | 0.86% | -16.33% | 7.56% | 8.05% |
| Bonds | 0.10% | -27.01% | 51.48% | 35.63% |
Stock Sector Breakdown
| Weighting | Return Low | Return High | MCINX % Rank | |
|---|---|---|---|---|
| Industrials | 46.55% | 0.00% | 61.32% | 7.59% |
| Financial Services | 32.67% | 0.00% | 96.48% | 7.59% |
| Healthcare | 13.24% | 0.00% | 29.83% | 22.78% |
| Energy | 7.54% | 0.00% | 80.75% | 24.05% |
| Utilities | 0.00% | 0.00% | 100.00% | 98.73% |
| Technology | 0.00% | 0.00% | 23.82% | 75.95% |
| Real Estate | 0.00% | 0.00% | 22.98% | 58.23% |
| Communication Services | 0.00% | 0.00% | 15.03% | 59.49% |
| Consumer Defense | 0.00% | 0.00% | 7.14% | 56.96% |
| Consumer Cyclical | 0.00% | 0.00% | 100.00% | 60.76% |
| Basic Materials | 0.00% | 0.00% | 16.21% | 58.23% |
Stock Geographic Breakdown
| Weighting | Return Low | Return High | MCINX % Rank | |
|---|---|---|---|---|
| US | 2.16% | 0.00% | 30.38% | 86.21% |
| Non US | 0.00% | 0.00% | 2.74% | 65.52% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MCINX % Rank | |
|---|---|---|---|---|
| Corporate | 97.16% | 62.83% | 100.00% | 73.56% |
| Cash & Equivalents | 2.84% | 0.00% | 9.94% | 32.18% |
| Derivative | 0.00% | 0.00% | 18.05% | 56.32% |
| Securitized | 0.00% | 0.00% | 5.68% | 55.17% |
| Municipal | 0.00% | 0.00% | 0.00% | 54.02% |
| Government | 0.00% | 0.00% | 6.09% | 58.62% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MCINX % Rank | |
|---|---|---|---|---|
| US | 0.10% | -32.04% | 48.11% | 27.59% |
| Non US | 0.00% | 0.00% | 13.00% | 66.67% |
MCINX - Expenses
Operational Fees
| MCINX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.16% | 0.07% | 3.98% | 48.24% |
| Management Fee | 0.56% | 0.20% | 1.33% | 27.91% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 49.06% |
| Administrative Fee | N/A | 0.04% | 0.15% | N/A |
Sales Fees
| MCINX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 5.00% | 2.25% | 5.75% | 50.00% |
| Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
| MCINX 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.
| MCINX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 46.00% | 32.46% | 242.00% | 19.77% |
MCINX - Distributions
Dividend Yield Analysis
| MCINX | Category Low | Category High | MCINX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 0.79% | 60.92% |
Dividend Distribution Analysis
| MCINX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Quarterly | Quarterly | Monthly | Quarterly |
Net Income Ratio Analysis
| MCINX | Category Low | Category High | MCINX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 0.13% | -14.00% | 9.48% | 90.59% |
Capital Gain Distribution Analysis
| MCINX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
Dividend Payout History
| Date | Amount |
|---|---|
| Mar 29, 2019 | $0.038 |
| Sep 28, 2018 | $0.029 |
| Jun 29, 2018 | $0.028 |
| Mar 29, 2018 | $0.045 |
| Sep 29, 2017 | $0.048 |
| Jun 30, 2017 | $0.033 |
| Mar 31, 2017 | $0.025 |
| Sep 30, 2016 | $0.045 |
| Jun 30, 2016 | $0.045 |
| Mar 31, 2016 | $0.050 |
| Sep 30, 2015 | $0.020 |
| Jun 30, 2015 | $0.012 |
| Mar 31, 2015 | $0.022 |
| Sep 29, 2014 | $0.008 |
| Jun 27, 2014 | $0.006 |
| Mar 28, 2014 | $0.009 |
| Sep 27, 2013 | $0.017 |
| Jun 27, 2013 | $0.034 |
| Mar 28, 2013 | $0.088 |
| Sep 27, 2012 | $0.063 |
| Jun 28, 2012 | $0.062 |
| Mar 30, 2012 | $0.059 |
| Dec 13, 2011 | $0.093 |
| Sep 29, 2011 | $0.076 |
| Jun 29, 2011 | $0.079 |
| Mar 30, 2011 | $0.058 |
| Dec 20, 2010 | $0.076 |
| Sep 29, 2010 | $0.078 |
| Jun 29, 2010 | $0.073 |
| Mar 30, 2010 | $0.084 |
| Dec 16, 2009 | $0.085 |
| Sep 25, 2009 | $0.084 |
| Jun 26, 2009 | $0.085 |
| Mar 27, 2009 | $0.122 |
| Nov 24, 2008 | $0.023 |
| Sep 24, 2008 | $0.063 |
| Jun 25, 2008 | $0.050 |
| Mar 26, 2008 | $0.041 |
MCINX - Fund Manager Analysis
Managers
Edward Silverstein
Start Date
Tenure
Tenure Rank
May 01, 2001
19.93
19.9%
Edward joined MacKay Shields as a Research Analyst in 1998 and became Portfolio Manager/Research Analyst in 1999. Prior to joining MacKay Shields, he was most recently a Portfolio Manager for three years at the Bank of New York after having been a law clerk for two years at the Bank. In addition, he was an intern at the New York Stock Exchange Enforcement Division. Edward has a BS in Accounting from the University of Vermont, a MBA from the Baruch College and a JD from Brooklyn Law School. Ed became a CFA Charterholder in 1999 and is also a member of the New York State Bar. He has been in the investment management and research industry since 1995.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 35.8 | 9.78 | 6.25 |
