Dividend Investing Ideas Center
Critical Facts You Need to Know About Preferred Stocks
Have you ever wished for the safety of bonds, but the return potential...
Name
As of 10/02/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
YTD Return
7.3%
1 yr return
17.2%
3 Yr Avg Return
-1.3%
5 Yr Avg Return
N/A
Net Assets
$341 M
Holdings in Top 10
10.6%
Expense Ratio 1.18%
Front Load N/A
Deferred Load N/A
Turnover 111.00%
Redemption Fee N/A
Standard (Taxable)
$1,000
IRA
$1,000
Fund Type
Open End Mutual Fund
Name
As of 10/02/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
The Fund, under normal circumstances, invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in bonds, which include all types of debt securities, such as: debt or debt-related securities issued or guaranteed by the U.S. or foreign governments, their agencies or instrumentalities; obligations of international or supranational entities; debt securities issued by U.S. or foreign corporate entities; zero coupon bonds; municipal bonds; mortgage-related and other asset-backed securities; and loan participation interests. The Fund will generally seek to maintain a weighted average duration within 2.5 years (plus or minus) of the duration of the Bloomberg U.S. Aggregate Bond Index. 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. As of December 31, 2023, the weighted average duration of the Fund and Bloomberg U.S. Aggregate Bond Index were 6.6 years and 6.1 years, respectively.
The Fund, under normal circumstances, will invest at least 65% percent of its total assets in investment grade debt securities, as rated by a nationally recognized statistical rating organization (“NRSRO”) when purchased, or if unrated, determined by MacKay Shields LLC, the Fund’s Subadvisor, to be of comparable quality. The Fund may also invest up to 30% of its total assets in securities rated below investment grade by a NRSRO (such securities rated lower than BBB- and Baa3) or, if unrated, determined by the Subadvisor to be of comparable quality. Securities that are rated below investment grade by NRSROs are commonly referred to as “high-yield securities” or "junk bonds." If NRSROs assign different ratings for the same security, the Fund will use the higher rating for purposes of determining the credit quality. The Fund may invest in mortgage dollar rolls, to-be-announced ("TBA") securities transactions, variable rate notes and floating rate notes.
The Fund may invest up to 20% of its total assets in securities denominated in foreign currencies. To the extent possible, the Fund will attempt to protect these investments against risks stemming from differences in foreign exchange rates.
The Fund may also invest in derivatives such as futures, options and swap agreements to try to enhance returns or reduce the risk of loss by hedging certain of its holdings. Commercial paper must be, when purchased, rated in the highest rating category by a NRSRO or if unrated, determined by the Subadvisor to be of comparable quality. The Fund's principal investments may have fixed or floating rates of interest.
Investment Process: In pursuing the Fund’s investment strategy, the Subadvisor conducts a continuous review of expected returns, yields and other information derived from a database which it maintains in managing fixed income portfolios.
Fundamental economic cycle analysis, credit quality and interest rate trends are the principal factors considered by the Subadvisor in managing the Fund and determining whether to increase or decrease the emphasis placed upon a particular type of security or industry sector within the Fund's investment portfolio. 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. Maturity duration shifts adjustments are based on a set of investment decisions that take into account a broad range of economic, fundamental and technical indicators.
The Subadvisor may sell a security if it no longer believes that the security will 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, and changes in the condition and outlook in the issuer's industry.
Period | MTMSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 7.3% | -2.4% | 11.9% | 2.65% |
1 Yr | 17.2% | -6.4% | 29.1% | 4.18% |
3 Yr | -1.3%* | -10.0% | 29.0% | 35.22% |
5 Yr | N/A* | -6.9% | 59.3% | 75.74% |
10 Yr | N/A* | -2.4% | 74.3% | 72.64% |
* Annualized
Period | MTMSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 3.3% | -16.2% | 8.1% | 8.06% |
2022 | -18.3% | -34.7% | 131.9% | 89.56% |
2021 | -5.9% | -11.6% | 4.4% | 96.84% |
2020 | N/A | -10.1% | 946.1% | N/A |
2019 | N/A | -1.7% | 16.9% | N/A |
Period | MTMSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 7.3% | -2.4% | 11.9% | 2.65% |
1 Yr | 17.2% | -6.4% | 29.1% | 4.18% |
3 Yr | -1.3%* | -10.0% | 29.0% | 35.22% |
5 Yr | N/A* | -6.9% | 59.3% | 68.35% |
10 Yr | N/A* | -2.4% | 74.3% | 68.32% |
* Annualized
Period | MTMSX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 7.4% | -11.3% | 11.9% | 11.53% |
2022 | -16.0% | -32.2% | 131.9% | 93.42% |
2021 | -1.2% | -9.4% | 9.2% | 58.23% |
2020 | N/A | -1.9% | 1009.0% | N/A |
2019 | N/A | 1.1% | 21668.0% | N/A |
MTMSX | Category Low | Category High | MTMSX % Rank | |
---|---|---|---|---|
Net Assets | 341 M | 2.9 M | 314 B | 72.59% |
Number of Holdings | 432 | 1 | 17787 | 69.38% |
Net Assets in Top 10 | 34.1 M | 1.62 M | 36.1 B | 85.66% |
Weighting of Top 10 | 10.63% | 4.4% | 432.9% | 89.27% |
Weighting | Return Low | Return High | MTMSX % Rank | |
---|---|---|---|---|
Bonds | 87.50% | 0.00% | 993.61% | 79.59% |
Other | 9.71% | -16.55% | 52.94% | 25.43% |
Convertible Bonds | 4.25% | 0.00% | 7.93% | 2.46% |
Cash | 3.70% | -54.51% | 237.69% | 41.81% |
Stocks | 0.00% | 0.00% | 99.99% | 37.56% |
Preferred Stocks | 0.00% | 0.00% | 71.02% | 72.63% |
Weighting | Return Low | Return High | MTMSX % Rank | |
---|---|---|---|---|
Utilities | 0.00% | 0.00% | 100.00% | 82.76% |
Technology | 0.00% | 0.00% | 43.45% | 81.38% |
Real Estate | 0.00% | 0.00% | 99.26% | 80.00% |
Industrials | 0.00% | 0.00% | 48.31% | 78.28% |
Healthcare | 0.00% | 0.00% | 17.70% | 81.72% |
Financial Services | 0.00% | 0.00% | 100.00% | 82.41% |
Energy | 0.00% | 0.00% | 100.00% | 89.66% |
Communication Services | 0.00% | 0.00% | 100.00% | 4.14% |
Consumer Defense | 0.00% | 0.00% | 99.67% | 78.62% |
Consumer Cyclical | 0.00% | 0.00% | 100.00% | 81.03% |
Basic Materials | 0.00% | 0.00% | 100.00% | 82.07% |
Weighting | Return Low | Return High | MTMSX % Rank | |
---|---|---|---|---|
US | 0.00% | 0.00% | 99.99% | 36.11% |
Non US | 0.00% | 0.00% | 86.16% | 62.26% |
Weighting | Return Low | Return High | MTMSX % Rank | |
---|---|---|---|---|
Corporate | 46.53% | 0.00% | 100.00% | 13.83% |
Securitized | 37.57% | 0.00% | 98.40% | 27.25% |
Government | 13.45% | 0.00% | 86.23% | 77.97% |
Cash & Equivalents | 3.70% | -0.46% | 237.69% | 41.00% |
Derivative | 0.51% | -1.41% | 44.82% | 16.68% |
Municipal | 0.39% | 0.00% | 100.00% | 48.98% |
Weighting | Return Low | Return High | MTMSX % Rank | |
---|---|---|---|---|
US | 87.50% | 0.00% | 993.61% | 74.16% |
Non US | 0.00% | 0.00% | 35.41% | 74.97% |
MTMSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.18% | 0.01% | 39.64% | 18.61% |
Management Fee | 0.45% | 0.00% | 1.76% | 80.88% |
12b-1 Fee | 0.50% | 0.00% | 1.00% | 73.99% |
Administrative Fee | N/A | 0.01% | 0.50% | N/A |
MTMSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 4.00% | N/A |
MTMSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
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.
MTMSX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 111.00% | 2.00% | 493.39% | 44.99% |
MTMSX | Category Low | Category High | MTMSX % Rank | |
---|---|---|---|---|
Dividend Yield | 4.38% | 0.00% | 10.11% | 25.38% |
MTMSX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Monthly | SemiAnnual | Monthly | Monthly |
MTMSX | Category Low | Category High | MTMSX % Rank | |
---|---|---|---|---|
Net Income Ratio | 1.69% | -1.28% | 4.79% | 51.77% |
MTMSX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually |
Date | Amount | Type |
---|---|---|
Sep 30, 2024 | $0.035 | OrdinaryDividend |
Aug 30, 2024 | $0.036 | OrdinaryDividend |
Jul 31, 2024 | $0.035 | OrdinaryDividend |
Apr 30, 2024 | $0.036 | OrdinaryDividend |
Mar 28, 2024 | $0.033 | OrdinaryDividend |
Feb 29, 2024 | $0.038 | OrdinaryDividend |
Jan 31, 2024 | $0.049 | OrdinaryDividend |
Dec 20, 2023 | $0.025 | OrdinaryDividend |
Nov 30, 2023 | $0.032 | OrdinaryDividend |
Oct 31, 2023 | $0.028 | OrdinaryDividend |
Sep 29, 2023 | $0.030 | OrdinaryDividend |
Aug 31, 2023 | $0.032 | OrdinaryDividend |
Jul 31, 2023 | $0.029 | OrdinaryDividend |
Jun 30, 2023 | $0.029 | OrdinaryDividend |
May 31, 2023 | $0.030 | OrdinaryDividend |
Apr 28, 2023 | $0.028 | OrdinaryDividend |
Mar 31, 2023 | $0.032 | OrdinaryDividend |
Feb 28, 2023 | $0.025 | OrdinaryDividend |
Jan 31, 2023 | $0.027 | OrdinaryDividend |
Dec 20, 2022 | $0.025 | OrdinaryDividend |
Nov 30, 2022 | $0.024 | OrdinaryDividend |
Oct 31, 2022 | $0.000 | ReturnOfCapital |
Oct 31, 2022 | $0.023 | OrdinaryDividend |
Sep 30, 2022 | $0.000 | ReturnOfCapital |
Sep 30, 2022 | $0.024 | OrdinaryDividend |
Aug 31, 2022 | $0.000 | ReturnOfCapital |
Aug 31, 2022 | $0.023 | OrdinaryDividend |
Jul 29, 2022 | $0.000 | ReturnOfCapital |
Jul 29, 2022 | $0.019 | OrdinaryDividend |
Jun 30, 2022 | $0.000 | ReturnOfCapital |
Jun 30, 2022 | $0.023 | OrdinaryDividend |
May 31, 2022 | $0.000 | ReturnOfCapital |
May 31, 2022 | $0.021 | OrdinaryDividend |
Apr 29, 2022 | $0.000 | ReturnOfCapital |
Apr 29, 2022 | $0.021 | OrdinaryDividend |
Mar 31, 2022 | $0.021 | OrdinaryDividend |
Mar 31, 2022 | $0.000 | ReturnOfCapital |
Feb 28, 2022 | $0.000 | ReturnOfCapital |
Feb 28, 2022 | $0.018 | OrdinaryDividend |
Jan 31, 2022 | $0.000 | ReturnOfCapital |
Jan 31, 2022 | $0.021 | OrdinaryDividend |
Dec 15, 2021 | $0.013 | OrdinaryDividend |
Dec 15, 2021 | $0.070 | CapitalGainShortTerm |
Dec 15, 2021 | $0.263 | CapitalGainLongTerm |
Nov 30, 2021 | $0.026 | OrdinaryDividend |
Oct 29, 2021 | $0.016 | OrdinaryDividend |
Sep 30, 2021 | $0.016 | OrdinaryDividend |
Aug 31, 2021 | $0.017 | OrdinaryDividend |
Jul 30, 2021 | $0.017 | OrdinaryDividend |
Jun 30, 2021 | $0.017 | OrdinaryDividend |
May 28, 2021 | $0.017 | OrdinaryDividend |
Apr 30, 2021 | $0.019 | OrdinaryDividend |
Mar 31, 2021 | $0.017 | OrdinaryDividend |
Feb 26, 2021 | $0.016 | OrdinaryDividend |
Jan 29, 2021 | $0.017 | OrdinaryDividend |
Dec 16, 2020 | $0.015 | OrdinaryDividend |
Dec 16, 2020 | $0.129 | CapitalGainShortTerm |
Nov 30, 2020 | $0.017 | OrdinaryDividend |
Oct 30, 2020 | $0.016 | OrdinaryDividend |
Sep 30, 2020 | $0.018 | OrdinaryDividend |
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.
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.
Start Date
Tenure
Tenure Rank
Feb 28, 2022
0.25
0.3%
Lesya Paisley, CFA is a Portfolio Manager on the Global Fixed Income Team. She is responsible for managing Multi-Sector strategies at MacKay Shields. Prior to joining MacKay Shields, Lesya served as Investment Director and Portfolio Manager at Aberdeen Standard Investments where she was responsible for managing US dollar strategies including Credit, Corporates, and Core/Core+ strategies. Before Aberdeen, she worked at Deutsche Asset Management as a Credit Research Analyst. Combined, Lesya spent well over a decade in Credit Research covering a variety of sectors including Emerging Markets, High Yield, Investment Grade, and Municipals. She has been in the investment industry since 2003. Lesya is a CFA charterholder and earned a BSc degree in Finance and Accounting from the University of Virginia, McIntire School of Commerce.
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.08 | 33.43 | 6.79 | 1.16 |
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