Continue to site >
Trending ETFs

MainStay Short Term Bond Fund

mutual fund
MIXAX
Payout Change
Pending
Price as of:
$9.15 +0.0 +0.0%
primary theme
U.S. Short-Term Bond Duration
MIXAX (Mutual Fund)

MainStay Short Term Bond Fund

Payout Change
Pending
Price as of:
$9.15 +0.0 +0.0%
primary theme
U.S. Short-Term Bond Duration
MIXAX (Mutual Fund)

MainStay Short Term Bond Fund

Payout Change
Pending
Price as of:
$9.15 +0.0 +0.0%
primary theme
U.S. Short-Term Bond Duration

Name

As of 10/11/2024

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

$9.15

$168 M

4.56%

$0.42

0.75%

Vitals

YTD Return

4.1%

1 yr return

7.0%

3 Yr Avg Return

1.1%

5 Yr Avg Return

1.3%

Net Assets

$168 M

Holdings in Top 10

62.6%

52 WEEK LOW AND HIGH

$9.2
N/A
N/A

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 10/11/2024

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

$9.15

$168 M

4.56%

$0.42

0.75%

MIXAX - Profile

Distributions

  • YTD Total Return 4.1%
  • 3 Yr Annualized Total Return 1.1%
  • 5 Yr Annualized Total Return 1.3%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.70%
DIVIDENDS
  • Dividend Yield 4.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    MainStay Short Term Bond Fund
  • Fund Family Name
    MainStay
  • Inception Date
    Jan 02, 2004
  • Shares Outstanding
    6060027
  • Share Class
    A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Kenneth 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.

Read More

MIXAX - Performance

Return Ranking - Trailing

Period MIXAX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.1% 1.6% 16.0% 76.62%
1 Yr 7.0% 4.4% 25.2% 80.80%
3 Yr 1.1%* -5.2% 4.5% 66.92%
5 Yr 1.3%* -3.7% 5.0% 79.75%
10 Yr 1.8%* -18.8% 170.4% 40.91%

* Annualized

Return Ranking - Calendar

Period MIXAX Return Category Return Low Category Return High Rank in Category (%)
2023 0.3% -1.6% 7.6% 98.47%
2022 -6.3% -17.7% -2.6% 30.87%
2021 -1.7% -4.0% 4.4% 61.48%
2020 -7.1% -7.1% 7.6% 100.00%
2019 3.4% -2.3% 9.3% 12.03%

Total Return Ranking - Trailing

Period MIXAX Return Category Return Low Category Return High Rank in Category (%)
YTD 4.1% 1.6% 16.0% 76.62%
1 Yr 7.0% 4.4% 25.2% 80.80%
3 Yr 1.1%* -5.2% 4.5% 66.92%
5 Yr 1.3%* -3.7% 5.0% 79.75%
10 Yr 1.8%* -18.8% 170.4% 40.91%

* Annualized

Total Return Ranking - Calendar

Period MIXAX Return Category Return Low Category Return High Rank in Category (%)
2023 4.6% 1.8% 15.2% 84.16%
2022 -4.5% -17.3% -1.3% 41.17%
2021 -0.7% -2.7% 7.7% 73.85%
2020 3.1% -2.4% 14.5% 85.71%
2019 8.2% 0.6% 12.6% 1.69%

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 86.12%
Number of Holdings 163 2 8314 82.13%
Net Assets in Top 10 79.2 M 1.02 M 7.47 B 75.29%
Weighting of Top 10 62.56% 1.9% 112.6% 8.75%

Top 10 Holdings

  1. U.S. Treasury Notes 24.81%
  2. JPMorgan U.S. Government Money Market Fund, IM Class 23.60%
  3. U.S. Treasury Notes 3.25%
  4. U.S. Treasury Notes 2.68%
  5. iShares 1-5 Year Investment Grade Corporate Bond ETF 2.06%
  6. U.S. Treasury Notes 1.75%
  7. Deutsche Bank AG 1.66%
  8. U.S. Treasury Notes 0.99%
  9. Bank of America Corp. 0.90%
  10. Oracle Corp. 0.85%

Asset Allocation

Weighting Return Low Return High MIXAX % Rank
Bonds
89.81% 0.00% 131.20% 40.11%
Cash
23.60% -20.59% 71.38% 1.71%
Other
6.20% -0.97% 71.57% 53.04%
Convertible Bonds
3.98% 0.00% 27.71% 29.14%
Stocks
0.00% 0.00% 99.91% 74.33%
Preferred Stocks
0.00% 0.00% 24.12% 75.67%

Bond Sector Breakdown

Weighting Return Low Return High MIXAX % Rank
Corporate
61.19% 0.00% 99.82% 15.62%
Securitized
26.73% 0.00% 97.27% 43.81%
Cash & Equivalents
23.60% 0.00% 71.38% 1.52%
Government
8.44% 0.00% 73.63% 73.52%
Municipal
0.00% 0.00% 14.41% 85.33%
Derivative
-0.09% -0.44% 27.90% 93.35%

Bond Geographic Breakdown

Weighting Return Low Return High MIXAX % Rank
US
89.81% 0.00% 131.20% 35.74%
Non US
0.00% 0.00% 82.20% 76.05%

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% 41.22%
Management Fee 0.25% 0.00% 1.19% 30.99%
12b-1 Fee 0.25% 0.00% 1.00% 49.08%
Administrative Fee N/A 0.01% 0.41% 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% 97.30%
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% 87.34%

MIXAX - Distributions

Dividend Yield Analysis

MIXAX Category Low Category High MIXAX % Rank
Dividend Yield 4.56% 0.00% 11.11% 12.17%

Dividend Distribution Analysis

MIXAX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

MIXAX Category Low Category High MIXAX % Rank
Net Income Ratio 0.70% -1.27% 4.98% 76.98%

Capital Gain Distribution Analysis

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

Distributions History

View More +

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 6.19 2.41