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Trending ETFs

MainStay Income Builder Fund

mutual fund
MTISX
Payout Change
Pending
Price as of:
$20.89 -0.15 -0.71%
primary theme
N/A
MTISX (Mutual Fund)

MainStay Income Builder Fund

Payout Change
Pending
Price as of:
$20.89 -0.15 -0.71%
primary theme
N/A
MTISX (Mutual Fund)

MainStay Income Builder Fund

Payout Change
Pending
Price as of:
$20.89 -0.15 -0.71%
primary theme
N/A

Name

As of 10/07/2024

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

$20.89

$1.04 B

2.36%

$0.50

1.32%

Vitals

YTD Return

13.9%

1 yr return

26.2%

3 Yr Avg Return

6.7%

5 Yr Avg Return

N/A

Net Assets

$1.04 B

Holdings in Top 10

11.3%

52 WEEK LOW AND HIGH

$21.0
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.32%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 57.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/07/2024

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

$20.89

$1.04 B

2.36%

$0.50

1.32%

MTISX - Profile

Distributions

  • YTD Total Return 13.9%
  • 3 Yr Annualized Total Return 6.7%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.61%
DIVIDENDS
  • Dividend Yield 2.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    MainStay Income Builder Fund
  • Fund Family Name
    Mainstay Group of Funds
  • Inception Date
    Aug 31, 2020
  • Shares Outstanding
    1862
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Michael Welhoelter

Fund Description

The Fund normally invests a minimum of 30% of its net assets in equity securities and a minimum of 30% of its net assets in debt securities. From time to time, the Fund may temporarily invest less than 30% of its net assets in equity or debt securities as a result of market conditions, individual securities transactions or cash flow considerations.

Asset Allocation Investment Process: Asset allocation decisions are made by a Committee chaired by New York Life Investment Management LLC (“New York Life Investments”), the Fund’s Manager, in collaboration with MacKay Shields LLC (“MacKay Shields”), the subadvisor for the fixed-income portion of the Fund. Asset allocation decisions are determined based on the relative values of each asset class, inclusive of the ability of each asset class to generate income. The Fund may use equity index and fixed-income futures to manage effective exposure, for example, by adding exposure to the equity markets or adjusting fixed-income duration exposure. Neither equity index futures nor fixed-income futures are counted toward the Fund's equity or fixed-income allocation guidelines.

Equity Investment Process: Epoch Investment Partners, Inc. ("Epoch"), the Subadvisor for the equity portion of the Fund, invests primarily in companies that generate increasing levels of free cash flow and have managements that allocate it effectively to create shareholder value. The security selection process focuses on free-cash-flow analytics as opposed to traditional accounting-based metrics. The Subadvisor seeks to identify companies with a consistent, straightforward ability to both generate free cash flow and to intelligently allocate it among internal reinvestment opportunities, acquisitions, dividends, share repurchases and/or debt reduction.

The security selection process focuses on free-cash-flow analytics as opposed to traditional accounting-based metrics. Epoch seeks to identify companies with a consistent, straightforward ability to both generate free cash flow and to intelligently allocate it among internal reinvestment opportunities, acquisitions, dividends, share repurchases and/or debt reductions. Material environmental, social and governance (“ESG”) factors are identified and monitored by Epoch. Material ESG factors vary by company and industry, but Epoch pays particular attention to factors relating to climate change and corporate governance. This information is taken into account by Epoch in making investment decisions. Material ESG factors are identified and monitored by Epoch through review of ESG information published by the company (where relevant) or selected specialist third-party research and data providers. While Epoch considers ESG factors in the investment decision-making process of the Fund, this does not mean that ESG considerations are the sole or foremost considerations for investment decisions.

Epoch seeks to find and invest in companies that meet its definition of quality-companies that are free cash flow positive or are becoming free cash flow positive and that are led by strong management. The relevant factor in Epoch’s decision on how to deploy free cash flow is the cost of capital and the prospective returns on capital.

Fixed-Income Investment Process: The Fund may invest in investment grade and below investment grade debt securities of varying maturities. In pursuing the Fund's investment objective, the Fund may invest up to 30% of its net assets in debt securities that MacKay Shields believes may provide capital appreciation in addition to income and are rated below investment grade by a nationally recognized statistical rating organization (“NRSRO”) or if unrated, deemed to be of comparable creditworthiness by MacKay Shields. For purposes of this limitation, both the percentage and rating are counted at the time of purchase. 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. Securities that are rated below investment grade by NRSROs are commonly referred to as “high-yield securities” or "junk bonds."

MacKay Shields’ investment process includes a risk analysis that gives consideration to a variety of security-specific risks, including but not limited to, ESG risks that may have a material impact on the performance of a security. In addition to proprietary research, MacKay Shields 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. MacKay Shields’ consideration of ESG risk is weighed against other criteria and no sectors or industries are explicitly excluded from the Fund.

The Fund maintains a flexible approach by investing in a broad range of securities, which may be diversified by company, industry and type.

Principal debt investments include U.S. government securities, domestic and foreign debt securities, mortgage-related and asset-backed securities and floating rate loans. 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 Fund may also enter into mortgage dollar roll and to-be-announced ("TBA") securities transactions.

The Fund may also invest 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.

Investments Across the Fund: The Fund may invest in derivatives, such as futures, options, forward commitments and swap agreements, to try to enhance returns or reduce the risk of loss by hedging certain of its holdings. The Fund also may use fixed-income futures for purposes of managing duration and yield curve exposures. The Fund may invest up to 10% of its total assets in swaps, including credit default swaps.

The Subadvisors may sell a security if they no longer believe the security will contribute to meeting the investment objective of the Fund. In considering whether to sell a debt security, MacKay Shields may evaluate, among other things, deterioration in the issuer's credit quality. Epoch may sell or reduce a position in a security if, among other things, it sees an interruption to the dividend policy, a deterioration in fundamentals or

when the security is deemed less attractive relative to another security on a return/risk basis. Epoch may also sell or reduce a position in a security when it believes its investment objectives have been met or if it sees the investment thesis is failing to materialize.

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MTISX - Performance

Return Ranking - Trailing

Period MTISX Return Category Return Low Category Return High Rank in Category (%)
YTD 13.9% -23.7% 16.4% 61.59%
1 Yr 26.2% -8.9% 48.3% 58.58%
3 Yr 6.7%* -2.2% 16.4% 75.50%
5 Yr N/A* -0.7% 13.4% 80.14%
10 Yr N/A* 0.9% 11.8% 41.50%

* Annualized

Return Ranking - Calendar

Period MTISX Return Category Return Low Category Return High Rank in Category (%)
2023 6.4% -40.8% 20.6% 57.87%
2022 -15.6% -21.0% 24.5% N/A
2021 1.8% -24.2% 27.8% N/A
2020 N/A -23.1% 11.7% N/A
2019 N/A -100.0% 20.6% N/A

Total Return Ranking - Trailing

Period MTISX Return Category Return Low Category Return High Rank in Category (%)
YTD 13.9% -23.7% 16.4% 60.30%
1 Yr 26.2% -12.8% 48.3% 53.60%
3 Yr 6.7%* -3.4% 16.4% 69.65%
5 Yr N/A* -1.1% 13.4% 75.74%
10 Yr N/A* 0.9% 11.8% 39.23%

* Annualized

Total Return Ranking - Calendar

Period MTISX Return Category Return Low Category Return High Rank in Category (%)
2023 9.3% -40.8% 20.6% 57.87%
2022 -5.5% -21.0% 24.5% N/A
2021 9.6% -24.2% 27.8% N/A
2020 N/A -23.1% 11.7% N/A
2019 N/A -2.9% 23.1% N/A

NAV & Total Return History


MTISX - Holdings

Concentration Analysis

MTISX Category Low Category High MTISX % Rank
Net Assets 1.04 B 1.12 M 110 B 28.29%
Number of Holdings 590 2 10961 30.06%
Net Assets in Top 10 119 M -31.7 M 22 B 46.97%
Weighting of Top 10 11.26% 10.8% 100.0% 98.45%

Top 10 Holdings

  1. Microsoft Corp. 1.32%
  2. Broadcom, Inc. 1.28%
  3. International Business Machines Corp. 1.25%
  4. Iron Mountain, Inc. 1.22%
  5. Analog Devices, Inc. 1.17%
  6. MainStay U.S. Government Liquidity Fund, Class I 1.08%
  7. Coca-Cola Europacific Partners plc 1.07%
  8. Apple, Inc. 0.98%
  9. Taiwan Semiconductor Manufacturing Co. Ltd. 0.98%
  10. JPMorgan Chase Co. 0.91%

Asset Allocation

Weighting Return Low Return High MTISX % Rank
Stocks
59.70% -45.72% 98.42% 83.72%
Bonds
34.01% -39.76% 93.84% 10.86%
Other
2.94% -1.25% 197.12% 89.77%
Cash
2.72% -97.12% 185.58% 52.40%
Convertible Bonds
1.98% 0.00% 25.49% 17.95%
Preferred Stocks
0.00% -0.03% 14.00% 40.29%

Stock Sector Breakdown

Weighting Return Low Return High MTISX % Rank
Technology
17.20% 0.00% 39.48% 37.15%
Healthcare
13.34% 0.00% 30.30% 34.61%
Financial Services
12.73% 0.00% 30.34% 58.39%
Industrials
11.28% 0.09% 32.39% 33.12%
Consumer Defense
10.89% 0.00% 31.85% 16.77%
Utilities
7.80% 0.00% 40.29% 21.02%
Consumer Cyclical
7.72% 0.00% 20.84% 54.35%
Communication Services
6.06% 0.00% 28.59% 62.21%
Basic Materials
5.62% 0.00% 60.23% 47.77%
Energy
4.40% 0.00% 38.61% 59.24%
Real Estate
2.96% 0.00% 90.14% 66.67%

Stock Geographic Breakdown

Weighting Return Low Return High MTISX % Rank
US
45.24% -4.82% 95.75% 64.72%
Non US
14.46% -46.69% 57.06% 84.76%

Bond Sector Breakdown

Weighting Return Low Return High MTISX % Rank
Corporate
37.36% 0.00% 99.90% 25.26%
Securitized
21.34% 0.00% 83.28% 11.48%
Government
3.87% 0.00% 98.64% 79.12%
Cash & Equivalents
1.65% 0.10% 100.00% 41.96%
Derivative
0.44% 0.00% 41.88% 82.67%
Municipal
0.21% 0.00% 31.28% 15.45%

Bond Geographic Breakdown

Weighting Return Low Return High MTISX % Rank
US
34.01% -177.12% 87.76% 7.31%
Non US
0.00% -39.00% 137.36% 51.57%

MTISX - Expenses

Operational Fees

MTISX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.32% 0.16% 2.71% 26.10%
Management Fee 0.63% 0.00% 1.70% 42.61%
12b-1 Fee 0.50% 0.00% 1.00% 62.15%
Administrative Fee N/A 0.01% 0.70% N/A

Sales Fees

MTISX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 1.00% 5.50% N/A

Trading Fees

MTISX 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.

MTISX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 57.00% 0.00% 441.00% 48.09%

MTISX - Distributions

Dividend Yield Analysis

MTISX Category Low Category High MTISX % Rank
Dividend Yield 2.36% 0.00% 10.92% 75.88%

Dividend Distribution Analysis

MTISX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Annually Monthly Monthly

Net Income Ratio Analysis

MTISX Category Low Category High MTISX % Rank
Net Income Ratio 1.61% -5.20% 6.33% 45.32%

Capital Gain Distribution Analysis

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

Distributions History

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MTISX - Fund Manager Analysis

Managers

Michael Welhoelter


Start Date

Tenure

Tenure Rank

Jun 30, 2009

12.93

12.9%

Mike is Co-Chief Investment Officer of Epoch Investment Partners. He is also Chief Risk Officer. Mike is responsible for integrating risk management into the investment process. Prior to joining Epoch in 2005, he was a director and portfolio manager in the Quantitative Strategies Group at Columbia Management Group, Inc. Before that, Mike was at Credit Suisse Asset Management Group (“CSAM”), where he was a portfolio manager in the Structured Equity group. Before joining CSAM, he was a portfolio manager and quantitative research analyst at Chancellor/LGT Asset Management.

William Priest


Start Date

Tenure

Tenure Rank

Jun 30, 2009

12.93

12.9%

Mr. William Priest is a Co-Founder and serves as Chief Executive Officer, Portfolio Manager & Co-Chief Investment Officer at Epoch Investment Partners. Prior to cofounding Epoch in 2004 with David Pearl, Tim Taussig and Phil Clark, Bill was a Co-Managing Partner and portfolio manager at Steinberg Priest & Sloane Capital Management, LLC for three years. Before joining Steinberg

Kera Van Valen


Start Date

Tenure

Tenure Rank

Feb 28, 2014

8.26

8.3%

Kera is a portfolio manager for Epoch's Equity Shareholder Yield strategies. Prior to joining the Shareholder Yield team Kera was an analyst within Epoch’s Quantitative Research and Risk Management team. Before joining Epoch in 2005, she was a portfolio manager of Structured Equities and Quantitative Research at Columbia Management Group where she was responsible for the day-to-day management of two index funds. She also worked at Credit Suisse Asset Management. Kera received her BA in Mathematics at Colgate University and her MBA at Columbia University, Graduate School of Business.

John Tobin


Start Date

Tenure

Tenure Rank

Feb 28, 2014

8.26

8.3%

John is a portfolio manager for Epoch’s Equity Shareholder Yield strategies. Prior to joining Epoch in 2012, John taught undergraduate economics as a lecturer at Fordham University. Before that he spent four years at HSBC Global Asset Management as a senior research analyst and almost twenty years at Credit Suisse Asset Management where he was a senior research analyst for the U.S. High Yield Bond team. Previously he worked at Bankers Trust Company where he began his career. John received AB, AM and PhD degrees in Economics from Fordham University.

Jae Yoon


Start Date

Tenure

Tenure Rank

Feb 28, 2018

4.25

4.3%

Jae Yoon, CFA. From 2005-2009, Mr. Yoon was employed by New York Life Investments where he led the Investment Consulting Group. In 2009, Mr. Yoon joined MacKay Shields LLC as a Senior Managing Director responsible for Risk Management. In his role at MacKay Shields, Mr. Yoon worked side-by-side with the portfolio managers directly enhancing the risk management processes across all portfolios. In January 2011, Mr. Yoon re-joined New York Life Investments and leads the Investment Consulting Group. Mr. Yoon obtained a B.S. and a Masters degree from Cornell University and attended New York University’s Stern School of Business MBA program. He earned his Chartered Financial Analyst designation in 1998 and has been in the investment industry since 1991.

Jonathan Swaney


Start Date

Tenure

Tenure Rank

Feb 28, 2018

4.25

4.3%

Jonathan Swaney was an employee of New York Life Investments from 1997-2009 and was responsible both for managing quantitative equity portfolios and performing research at New York Life Investments’ Equity Investors Group. Also within New York Life Investments, Mr. Swaney previously worked with the Investment Consulting Group and was a portfolio manager with the Quantitative Strategies unit. In 2009, Mr. Swaney joined Madison Square Investors LLC, an indirect, wholly-owned subsidiary of New York Life. While at Madison Square Investors LLC, Mr. Swaney was responsible both for managing quantitative equity portfolios and performing research. In January 2011, Mr. Swaney re-joined New York Life Investments as part of the Investment Consulting Group. Mr. Swaney began his career in financil services working on the fixed income desk at the Vanguard Group after earned his B.A. in Political Science from The College of William & Mary in 1991. He also spent several years with a hedge fund of funds before coming to New York Life Investments in 1997.

Neil Moriarty


Start Date

Tenure

Tenure Rank

Oct 18, 2018

3.62

3.6%

Neil Moriarty is a Senior Portfolio Manager of the Global Fixed Income team. Neil is responsible for managing all Multi- Sector and related strategies. Prior to joining MacKay Shields in January 2018, he was with Aberdeen via the 2005 acquisition of Deutsche Asset Management's London and Philadelphia fixed income businesses. While at Aberdeen, his responsibilities included Head of US Core, Structured Products and Co-Head of US Core Short Duration. Neil joined Deutsche in 2002 from Swathmore/Cypress Capital Management where he worked in fixed income portfolio management. Previously, he worked for Chase Securities in fixed income trading and research. Prior to that, Neil worked for Paine Webber in fixed income trading and research. Neil graduated with a BA from University of Massachusetts, Amherst. He has been working in the investment industry since 1987.

Stephen Cianci


Start Date

Tenure

Tenure Rank

Oct 18, 2018

3.62

3.6%

Steve Cianci, CFA, is the Head of the Global Fixed Income team and a Senior Portfolio Manager. Steve is responsible for managing all Multi-Sector and related strategies and in addition, he is responsible for strategic initiatives as the team’s business head. He is an adjunct professor of finance and a member of the Business Advisory Council at Widener University. Steve graduated with a MBA and BA from Widener University and is a CFA charterholder. He has been working in the investment industry since 1992.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.03 30.27 6.52 9.25