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MainStay MacKay High Yield Municipal Bond Fund
mutual fund
MMHVX
Dividend policy
Active
Price as of:
$13.29
+0.01
+0%
primary theme
High Yield Municipal Bond
MMHVX (Mutual Fund)
MainStay MacKay High Yield Municipal Bond Fund
Dividend policy
Active
Price as of:
$13.29
+0.01
+0%
primary theme
High Yield Municipal Bond
MMHVX - Snapshot
Vitals
- YTD Return 0.8%
- 3 Yr Annualized Return 6.0%
- 5 Yr Annualized Return 5.5%
- Net Assets $9.36 B
- Holdings in Top 10 11.9%
52 WEEK LOW AND HIGH
$13.28
$11.35
$13.45
Expenses
OPERATING RELATED FEES
- Expense Ratio 0.87%
SALES FEES
- Front Load 4.50%
- Deferred Load N/A
BROKERAGE FEES
- Turnover 37.00%
TRADING FEES
- Max Redemption Fee N/A
Min Investment
- Standard (Taxable) $2,500
- IRA N/A
Fund Classification
- Primary Theme High Yield Municipal Bond
- Fund Type Open End Mutual Fund
- Investment Style High Yield Muni
Overview
Next Dividend
Income Profile
Income Risk
Returns Profile
Allocations
Expenses
About
Dividend.com Ratings*
$17.77
+0.06%
$20.00 B
0.00%
$0.00
blocked
blocked
blocked
0.79%
-
$10.50
+0.10%
$9.56 B
-
$0.00
blocked
blocked
blocked
0.77%
-
$13.29
+0.08%
$9.36 B
0.00%
$0.00
blocked
blocked
blocked
0.76%
-
$16.67
+0.06%
$8.17 B
-
$0.00
blocked
blocked
blocked
0.60%
-
Overview
Next Dividend
Income Profile
Income Risk
Returns Profile
Allocations
Expenses
About
Dividend.com Ratings*
VanEck Vectors Short High Yield Muni ETF
SHYD | ETF
-
-
$240.42 M
-
$0.00
blocked
blocked
blocked
1.21%
-
First Trust Municipal High Income ETF
FMHI | ETF
$54.13
-0.04%
$139.50 M
3.10%
$1.68
blocked
blocked
blocked
0.78%
-
MMHVX - Profile
Distributions
- YTD Total Return 0.8%
- 3 Yr Annualized Total Return 4.4%
- 5 Yr Annualized Total Return 4.6%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio 3.15%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameMainStay MacKay High Yield Municipal Bond Fund
-
Fund Family NameNew York Life Investment Management LLC
-
Inception DateMar 31, 2010
-
Shares Outstanding396919
-
Share ClassInv
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerMichael Petty
Fund Description
The fund invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in municipal bonds. It may invest up to 10% of its net assets in municipal bonds that are the subject of bankruptcy proceedings, that are in default as to the payment of principal or interest, or that are rated in the lowest rating category by a NRSRO or if unrated, judged to be of comparable quality by the subadvisor.
MMHVX - Performance
Return Ranking - Trailing
| Period | MMHVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.8% | -0.8% | 1.2% | 15.28% |
| 1 Yr | 5.2% | -7.3% | 8.0% | 21.66% |
| 3 Yr | 6.0%* | 2.1% | 9.9% | 14.42% |
| 5 Yr | 5.5%* | 2.5% | 8.4% | 20.50% |
| 10 Yr | 7.2%* | 3.8% | 9.4% | 20.13% |
* Annualized
Return Ranking - Calendar
| Period | MMHVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2020 | 1.6% | -10.1% | 4.2% | 16.19% |
| 2019 | 5.0% | -0.7% | 11.7% | 53.66% |
| 2018 | 0.1% | -5.7% | 95.6% | 9.95% |
| 2017 | 4.4% | -0.7% | 8.6% | 38.24% |
| 2016 | -2.7% | -6.7% | -0.8% | 32.72% |
Total Return Ranking - Trailing
| Period | MMHVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | 0.8% | -0.8% | 1.2% | 15.28% |
| 1 Yr | 0.4% | -7.3% | 8.0% | 80.65% |
| 3 Yr | 4.4%* | 1.8% | 9.9% | 54.33% |
| 5 Yr | 4.6%* | 2.2% | 8.4% | 45.50% |
| 10 Yr | 6.7%* | 3.8% | 9.4% | 30.20% |
* Annualized
Total Return Ranking - Calendar
| Period | MMHVX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2020 | 1.6% | -10.1% | 4.2% | 16.19% |
| 2019 | 5.0% | -0.7% | 12.0% | 53.66% |
| 2018 | 0.1% | -5.7% | 4.2% | 11.52% |
| 2017 | 4.4% | -0.7% | 9.8% | 42.35% |
| 2016 | -2.7% | -6.1% | 1.1% | 35.19% |
NAV & Total Return History
MMHVX - Holdings
Concentration Analysis
| MMHVX | Category Low | Category High | MMHVX % Rank | |
|---|---|---|---|---|
| Net Assets | 9.36 B | 501 K | 20 B | 9.26% |
| Number of Holdings | 1273 | 5 | 3457 | 20.74% |
| Net Assets in Top 10 | 997 M | -38.2 M | 2.5 B | 4.15% |
| Weighting of Top 10 | 11.86% | 4.8% | 99.9% | 70.23% |
Top 10 Holdings
- BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5% 1.90%
- NEW JERSEY ST 4% 1.59%
- GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 0.01% 1.58%
- PUERTO RICO SALES TAX FING CORP SALES TAX REV 5% 1.55%
- Hillsborough Cnty Fla Indl Dev Bds 4% 1.28%
- GDB DEBT RECOVERY AUTH OF COMWLTH PUERTO RICO 7.5% 1.14%
- GRAND PARKWAY TRANSN CORP TEX SYS TOLL REV 4% 1.02%
- Invesco Muni Inc Tr 46132e855 0.95%
- Invesco Muni Inc Tr 46132e855 0.95%
- Invesco Muni Inc Tr 46132e855 0.95%
Asset Allocation
| Weighting | Return Low | Return High | MMHVX % Rank | |
|---|---|---|---|---|
| Bonds | 92.92% | 59.70% | 143.82% | 94.47% |
| Cash | 7.04% | -0.95% | 38.20% | 6.91% |
| Other | 0.04% | 0.00% | 1.72% | 8.76% |
| Stocks | 0.00% | 0.00% | 2.80% | 69.12% |
| Preferred Stocks | 0.00% | -43.98% | 0.00% | 62.21% |
| Convertible Bonds | 0.00% | 0.00% | 0.00% | 64.06% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | MMHVX % Rank | |
|---|---|---|---|---|
| Municipal | 92.86% | 60.98% | 100.00% | 93.09% |
| Cash & Equivalents | 7.13% | 0.00% | 39.02% | 5.99% |
| Derivative | 0.00% | 0.00% | 0.23% | 64.06% |
| Securitized | 0.00% | 0.00% | 17.71% | 64.06% |
| Corporate | 0.00% | 0.00% | 12.53% | 74.19% |
| Government | 0.00% | 0.00% | 0.83% | 65.44% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | MMHVX % Rank | |
|---|---|---|---|---|
| US | 82.95% | 59.70% | 136.78% | 95.39% |
| Non US | 9.97% | 0.00% | 12.73% | 18.89% |
MMHVX - Expenses
Operational Fees
| MMHVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 0.87% | 0.18% | 7.04% | 51.85% |
| Management Fee | 0.53% | 0.00% | 1.60% | 67.28% |
| 12b-1 Fee | 0.25% | 0.00% | 1.00% | 52.10% |
| Administrative Fee | N/A | 0.01% | 0.35% | N/A |
Sales Fees
| MMHVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | 4.50% | 1.00% | 4.75% | 20.45% |
| Deferred Load | N/A | 1.00% | 5.50% | N/A |
Trading Fees
| MMHVX 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.
| MMHVX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 37.00% | 5.10% | 314.00% | 53.70% |
MMHVX - Distributions
Dividend Yield Analysis
| MMHVX | Category Low | Category High | MMHVX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 2.36% | 64.52% |
Dividend Distribution Analysis
| MMHVX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| MMHVX | Category Low | Category High | MMHVX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 3.15% | -0.98% | 6.28% | 68.06% |
Capital Gain Distribution Analysis
| MMHVX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Dividend Payout History
| Date | Amount |
|---|---|
| Mar 29, 2019 | $0.039 |
| Feb 28, 2019 | $0.039 |
| Jan 31, 2019 | $0.039 |
| Dec 31, 2018 | $0.040 |
| Nov 30, 2018 | $0.039 |
| Oct 31, 2018 | $0.038 |
| Aug 31, 2018 | $0.039 |
| Jul 31, 2018 | $0.038 |
| Jun 29, 2018 | $0.039 |
| May 31, 2018 | $0.040 |
| Apr 30, 2018 | $0.041 |
| Mar 29, 2018 | $0.041 |
| Feb 28, 2018 | $0.041 |
| Jan 31, 2018 | $0.042 |
| Dec 29, 2017 | $0.041 |
| Nov 30, 2017 | $0.040 |
| Oct 31, 2017 | $0.039 |
| Sep 29, 2017 | $0.039 |
| Aug 31, 2017 | $0.039 |
| Jul 31, 2017 | $0.039 |
| Jun 30, 2017 | $0.040 |
| May 31, 2017 | $0.040 |
| Apr 28, 2017 | $0.041 |
| Mar 31, 2017 | $0.040 |
| Feb 28, 2017 | $0.041 |
| Jan 31, 2017 | $0.042 |
| Dec 30, 2016 | $0.043 |
| Nov 30, 2016 | $0.042 |
| Oct 31, 2016 | $0.041 |
| Sep 30, 2016 | $0.041 |
| Aug 31, 2016 | $0.041 |
| Jul 29, 2016 | $0.041 |
| Jun 30, 2016 | $0.041 |
| May 31, 2016 | $0.038 |
| Apr 29, 2016 | $0.040 |
| Mar 31, 2016 | $0.041 |
| Feb 29, 2016 | $0.041 |
| Jan 29, 2016 | $0.040 |
| Dec 31, 2015 | $0.041 |
| Nov 30, 2015 | $0.041 |
| Oct 30, 2015 | $0.041 |
| Sep 30, 2015 | $0.042 |
| Aug 31, 2015 | $0.041 |
| Jul 31, 2015 | $0.041 |
| Jun 30, 2015 | $0.042 |
| May 29, 2015 | $0.043 |
| Apr 30, 2015 | $0.041 |
| Mar 31, 2015 | $0.043 |
| Feb 27, 2015 | $0.044 |
| Jan 30, 2015 | $0.042 |
| Dec 31, 2014 | $0.042 |
| Nov 28, 2014 | $0.042 |
| Oct 31, 2014 | $0.041 |
| Sep 30, 2014 | $0.041 |
| Aug 29, 2014 | $0.043 |
| Jul 31, 2014 | $0.045 |
| Jun 30, 2014 | $0.043 |
| May 30, 2014 | $0.041 |
| Apr 30, 2014 | $0.042 |
| Mar 31, 2014 | $0.043 |
| Feb 28, 2014 | $0.043 |
| Jan 31, 2014 | $0.048 |
| Dec 31, 2013 | $0.047 |
| Nov 29, 2013 | $0.045 |
| Oct 31, 2013 | $0.044 |
| Sep 30, 2013 | $0.046 |
| Aug 30, 2013 | $0.047 |
| Jul 31, 2013 | $0.047 |
| Jun 28, 2013 | $0.044 |
| May 31, 2013 | $0.043 |
| Apr 30, 2013 | $0.042 |
| Mar 28, 2013 | $0.044 |
| Feb 28, 2013 | $0.043 |
| Jan 31, 2013 | $0.043 |
| Dec 31, 2012 | $0.044 |
| Nov 30, 2012 | $0.042 |
| Oct 31, 2012 | $0.040 |
| Sep 28, 2012 | $0.043 |
| Aug 31, 2012 | $0.041 |
| Jul 31, 2012 | $0.043 |
| Jun 29, 2012 | $0.042 |
| May 31, 2012 | $0.040 |
| Apr 30, 2012 | $0.048 |
| Mar 30, 2012 | $0.044 |
| Feb 29, 2012 | $0.044 |
| Jan 31, 2012 | $0.048 |
| Dec 13, 2011 | $0.038 |
| Nov 30, 2011 | $0.045 |
| Oct 31, 2011 | $0.045 |
| Sep 29, 2011 | $0.041 |
| Aug 31, 2011 | $0.044 |
| Jul 29, 2011 | $0.045 |
| Jun 29, 2011 | $0.047 |
| May 31, 2011 | $0.043 |
| Apr 29, 2011 | $0.045 |
| Mar 30, 2011 | $0.045 |
| Feb 28, 2011 | $0.048 |
| Jan 31, 2011 | $0.048 |
| Dec 20, 2010 | $0.011 |
| Nov 30, 2010 | $0.041 |
| Oct 29, 2010 | $0.042 |
| Sep 29, 2010 | $0.044 |
| Aug 31, 2010 | $0.047 |
| Jul 30, 2010 | $0.024 |
| Jun 29, 2010 | $0.044 |
| May 28, 2010 | $0.042 |
| Apr 30, 2010 | $0.028 |
MMHVX - Fund Manager Analysis
Managers
Michael Petty
Start Date
Tenure
Tenure Rank
Mar 31, 2010
10.76
10.8%
Mike joined MacKay Shields in July 2009. Before joining the firm he was a Portfolio Manager for Mariner Municipal Managers. He has been a municipal bond portfolio manager since 1992, and has worked in the municipal products market since 1985. Mike has a broad array of trading, portfolio management, and sales experience. Prior to joining Mariner Municipal Managers, he was a Senior Portfolio Manager at Dreyfus Corporation from 1997 to 2009. From 1992 to 1997, he served as a Portfolio Manager for Merrill Lynch Investment Managers. He is a member of the firm’s Management Committee. Mike graduated from Hobart College with a B.S. in Mathematics and Economics.
John Loffredo
Start Date
Tenure
Tenure Rank
Mar 31, 2010
10.76
10.8%
John joined MacKay Shields in July 2009 when the firm acquired the assets of Mariner Municipal Managers LLC. He was the Chairman and co-founder of Mariner Municipal Managers from 2007 to 2009. He has been a municipal portfolio manager and/or municipal analyst since 1990, with a broad range of portfolio management and analytic experience in the municipal markets. John was a Managing Director and Co-Head of BlackRock’s Municipal Portfolio Management Group (from 2006 to 2007). Prior to BlackRock’s merger with Merrill Lynch Investment Managers (MLIM), he served as Chief Investment Officer of the Municipal Products Group. He was employed by Merrill Lynch from 1990 to 2006. Before Merrill Lynch, he worked for the City of Boston Treasury Department. John is a member of the firm’s Senior Leadership Team. He graduated with an MBA and Certificate of Public Management from Boston University and with a Bachelors degree in Finance, cum laude, from Utah State University where he was a Harry S. Truman Scholar. He is a CFA Charterholder.
Robert DiMella
Start Date
Tenure
Tenure Rank
Mar 31, 2010
10.76
10.8%
Robert joined MacKay Shields in July 2009 when the firm acquired the assets of Mariner Municipal Managers LLC. He was the President and co-founder of Mariner Municipal Managers from 2007 to 2009. He has been a municipal portfolio manager since 1992, with a broad range of trading and portfolio management experience in the municipal markets. Robert was a Managing Director and Co-Head of BlackRock’s Municipal Portfolio Management Group (from 2006 to 2007). Prior to BlackRock’s merger with Merrill Lynch Investment Managers, he served as a Senior Portfolio Manager and Managing Director of the Municipal Products Group. He was employed by Merrill Lynch from 1993 to 2006. Robert is a member of the firm’s Senior Leadership Team. He earned his Master’s degree at Rutgers University Business School and an undergraduate degree at the University of Connecticut. He is a CFA Charterholder.
David Dowden
Start Date
Tenure
Tenure Rank
Feb 28, 2014
6.84
6.8%
David joined MacKay Shields in 2009. Before joining the firm he was Chief Investment Officer at Financial Guaranty Insurance Company. David was previously with Alliance Capital Management as a Senior Portfolio Manager and at Merrill Lynch & Co. as a Municipal Strategist. David has an AB from Brown University and an MBA from Columbia University. He has been in the investment management industry since 1989.
Scott Sprauer
Start Date
Tenure
Tenure Rank
Feb 28, 2014
6.84
6.8%
Scott joined MacKay Shields in 2009. Before joining the firm he was Head Trader, Fixed Income, at Financial Guaranty Insurance Company. Scott was previously with Dreyfus Corporation and Merrill Lynch Investment Managers as a Municipal Bond Portfolio Manager/Trader. He has a BSBA from Villanova University. Scott has been in the investment management industry since 1991.
Frances Lewis
Start Date
Tenure
Tenure Rank
Feb 28, 2017
3.84
3.8%
Frances Lewis joined MacKay Shields in July 2009 and is currently a Senior Managing Director. Ms. Lewis was the Director of Research for Mariner Municipal Managers and was previously at Merrill Lynch. Ms. Lewis began her municipal analyst career in 1991 as an Analyst for Merrill Lynch Investment Managers where she was a Senior Fund Analyst covering various sectors of the municipal market and becoming a Director in the Municipal Research Group in 1997. Ms. Lewis earned an MBA from Boston University and a BA from the University of Michigan.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.16 | 22.77 | 7.14 | 1.11 |
