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Trending ETFs

MainStay MacKay Total Return Bond Fund

mutual fund
MTMSX
Payout Change
Pending
Price as of:
$9.47 -0.02 -0.21%
primary theme
U.S. Intermediate-Term Bond Duration
MTMSX (Mutual Fund)

MainStay MacKay Total Return Bond Fund

Payout Change
Pending
Price as of:
$9.47 -0.02 -0.21%
primary theme
U.S. Intermediate-Term Bond Duration
MTMSX (Mutual Fund)

MainStay MacKay Total Return Bond Fund

Payout Change
Pending
Price as of:
$9.47 -0.02 -0.21%
primary theme
U.S. Intermediate-Term Bond Duration

Name

As of 10/02/2024

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

$9.47

$341 M

4.38%

$0.42

1.18%

Vitals

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%

52 WEEK LOW AND HIGH

$9.5
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.18%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 111.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$1,000


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 10/02/2024

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

$9.47

$341 M

4.38%

$0.42

1.18%

MTMSX - Profile

Distributions

  • YTD Total Return 7.3%
  • 3 Yr Annualized Total Return -1.3%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 1.69%
DIVIDENDS
  • Dividend Yield 4.4%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    MainStay MacKay Total Return Bond Fund
  • Fund Family Name
    MainStay Group of Funds
  • Inception Date
    Aug 31, 2020
  • Shares Outstanding
    2336
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Neil Moriarty

Fund Description

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.

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MTMSX - Performance

Return Ranking - Trailing

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

Return Ranking - Calendar

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

Total Return Ranking - Trailing

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

Total Return Ranking - Calendar

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

NAV & Total Return History


MTMSX - Holdings

Concentration Analysis

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%

Top 10 Holdings

  1. MainStay U.S. Government Liquidity Fund, Class I 1.69%
  2. U.S. Treasury Notes 1.60%
  3. UMBS, 30 Year 1.24%
  4. UMBS Pool, 30 Year 1.15%
  5. U.S. Treasury Bills 0.98%
  6. GNMA, Series 2021-97, Class FA 0.82%
  7. Lloyds Banking Group plc 0.81%
  8. U.S. Treasury Bills 0.81%
  9. Nissan Motor Acceptance Co. LLC 0.77%
  10. Connecticut Avenue Securities Trust, Series 2019-HRP1, Class B1 0.74%

Asset Allocation

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%

Stock Sector Breakdown

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%

Stock Geographic Breakdown

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%

Bond Sector Breakdown

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%

Bond Geographic Breakdown

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 - Expenses

Operational Fees

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

Sales Fees

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

Trading Fees

MTMSX 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.

MTMSX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 111.00% 2.00% 493.39% 44.99%

MTMSX - Distributions

Dividend Yield Analysis

MTMSX Category Low Category High MTMSX % Rank
Dividend Yield 4.38% 0.00% 10.11% 25.38%

Dividend Distribution Analysis

MTMSX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly SemiAnnual Monthly Monthly

Net Income Ratio Analysis

MTMSX Category Low Category High MTMSX % Rank
Net Income Ratio 1.69% -1.28% 4.79% 51.77%

Capital Gain Distribution Analysis

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

Distributions History

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MTMSX - Fund Manager Analysis

Managers

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.

Lesya Paisley


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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 33.43 6.79 1.16