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MainStay MacKay DefinedTerm Municipal Opportunities Fund of Beneficial Interest
mutual fund
XMMDX
Payout Change
Suspended
Price as of:
$16.9
-0.06
-0.35%
primary theme
Municipal Bond
share class
XMMDX (Mutual Fund)
MainStay MacKay DefinedTerm Municipal Opportunities Fund of Beneficial Interest
Payout Change
Suspended
Price as of:
$16.9
-0.06
-0.35%
primary theme
Municipal Bond
share class
XMMDX (Mutual Fund)
MainStay MacKay DefinedTerm Municipal Opportunities Fund of Beneficial Interest
Payout Change
Suspended
Price as of:
$16.9
-0.06
-0.35%
primary theme
Municipal Bond
share class
Name
As of 12/13/2024Price
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
$16.90
$508 M
0.00%
1.64%
Vitals
YTD Return
-1.7%
1 yr return
-1.1%
3 Yr Avg Return
-6.9%
5 Yr Avg Return
-3.7%
Net Assets
$508 M
Holdings in Top 10
23.7%
52 WEEK LOW AND HIGH
$17.0
N/A
N/A
Expenses
OPERATING FEES
Expense Ratio 1.64%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 20.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
N/A
IRA
N/A
Fund Classification
Fund Type
Closed-end mutual fund
Name
As of 12/13/2024Price
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
$16.90
$508 M
0.00%
1.64%
XMMDX - Profile
Distributions
- YTD Total Return -1.7%
- 3 Yr Annualized Total Return -6.9%
- 5 Yr Annualized Total Return -3.7%
- Capital Gain Distribution Frequency N/A
- Net Income Ratio 4.88%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Monthly
Fund Details
-
Legal NameMainStay MacKay DefinedTerm Municipal Opportunities Fund of Beneficial Interest
-
Fund Family NameNew York Life Investment Management LLC
-
Inception DateJul 26, 2012
-
Shares Outstanding27824252
-
Share ClassOther
-
CurrencyUSD
-
Domiciled CountryUnited States
-
ManagerJohn Loffredo
Fund Description
XMMDX - Performance
Return Ranking - Trailing
| Period | XMMDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -1.7% | -4.5% | 38.3% | 96.78% |
| 1 Yr | -1.1% | -2.5% | 44.5% | 99.06% |
| 3 Yr | -6.9%* | -10.2% | 5.8% | 97.40% |
| 5 Yr | -3.7%* | -6.5% | 1104.9% | 96.70% |
| 10 Yr | 1.1%* | -0.9% | 249.0% | 77.24% |
* Annualized
Return Ranking - Calendar
| Period | XMMDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.8% | -1.4% | 41.0% | 48.82% |
| 2022 | -20.2% | -39.7% | 0.3% | 96.38% |
| 2021 | 0.0% | -5.6% | 6.9% | 31.34% |
| 2020 | 2.5% | -2.6% | 310.0% | 16.81% |
| 2019 | 3.0% | 0.0% | 26.0% | 78.47% |
Total Return Ranking - Trailing
| Period | XMMDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| YTD | -1.7% | -4.5% | 38.3% | 96.78% |
| 1 Yr | -1.1% | -2.5% | 44.5% | 99.06% |
| 3 Yr | -6.9%* | -10.2% | 5.8% | 97.40% |
| 5 Yr | -3.7%* | -6.5% | 1104.9% | 96.70% |
| 10 Yr | 1.1%* | -0.9% | 249.0% | 77.24% |
* Annualized
Total Return Ranking - Calendar
| Period | XMMDX Return | Category Return Low | Category Return High | Rank in Category (%) |
|---|---|---|---|---|
| 2023 | 2.8% | -1.3% | 41.0% | 97.85% |
| 2022 | -20.2% | -39.7% | 1.1% | 96.38% |
| 2021 | 0.0% | -4.8% | 23761504.0% | 88.73% |
| 2020 | 2.5% | -1.5% | 17057.9% | 84.66% |
| 2019 | 5.6% | 0.2% | 3514.6% | 71.49% |
NAV & Total Return History
XMMDX - Holdings
Concentration Analysis
| XMMDX | Category Low | Category High | XMMDX % Rank | |
|---|---|---|---|---|
| Net Assets | 508 M | 3.22 M | 71.9 B | 47.24% |
| Number of Holdings | 118 | 4 | 13418 | 78.51% |
| Net Assets in Top 10 | 126 M | -317 M | 3.09 B | 36.60% |
| Weighting of Top 10 | 23.68% | 1.8% | 100.3% | 26.21% |
Top 10 Holdings
- GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 5.3% 4.53%
- BROWARD CNTY FLA CONVENTION CTR HOTEL REV 5.5% 3.48%
- GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 0% 3.24%
- CHINO VY UNI SCH DIST CALIF 5% 3.20%
- PUERTO RICO SALES TAX FING CORP SALES TAX REV 5% 3.20%
- TENDER OPT BD TR RCPTS / CTFS VAR STS 0% 2.86%
- PUERTO RICO COMWLTH AQUEDUCT & SWR AUTH REV 6% 2.59%
- CHILDRENS TR FD P R TOB SETTLEMENT REV 5.5% 2.50%
- PUERTO RICO CONVENTION CTR DIST AUTH HOTEL OCCUPANCY TAX 4.5% 2.39%
- SAN DIEGO CNTY CALIF REGL ARPT AUTH ARPT REV 5% 2.12%
Asset Allocation
| Weighting | Return Low | Return High | XMMDX % Rank | |
|---|---|---|---|---|
| Bonds | 94.33% | 0.00% | 150.86% | 90.94% |
| Cash | 5.67% | -50.86% | 44.62% | 8.19% |
| Stocks | 0.00% | 0.00% | 99.78% | 38.19% |
| Preferred Stocks | 0.00% | 0.00% | 0.07% | 25.72% |
| Other | 0.00% | -3.69% | 53.54% | 33.71% |
| Convertible Bonds | 0.00% | 0.00% | 0.93% | 25.56% |
Bond Sector Breakdown
| Weighting | Return Low | Return High | XMMDX % Rank | |
|---|---|---|---|---|
| Municipal | 93.74% | 44.39% | 100.00% | 86.18% |
| Cash & Equivalents | 6.26% | 0.00% | 44.41% | 6.18% |
| Derivative | 0.00% | -3.69% | 53.54% | 31.63% |
| Securitized | 0.00% | 0.00% | 5.93% | 27.17% |
| Corporate | 0.00% | 0.00% | 9.41% | 38.44% |
| Government | 0.00% | 0.00% | 52.02% | 30.48% |
Bond Geographic Breakdown
| Weighting | Return Low | Return High | XMMDX % Rank | |
|---|---|---|---|---|
| US | 80.40% | 0.00% | 142.23% | 98.32% |
| Non US | 13.93% | 0.00% | 23.89% | 0.13% |
XMMDX - Expenses
Operational Fees
| XMMDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Expense Ratio | 1.64% | 0.01% | 8.02% | 7.59% |
| Management Fee | 0.60% | 0.00% | 1.20% | 97.32% |
| 12b-1 Fee | N/A | 0.00% | 1.00% | N/A |
| Administrative Fee | N/A | 0.01% | 0.44% | N/A |
Sales Fees
| XMMDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Front Load | N/A | 0.50% | 4.75% | N/A |
| Deferred Load | N/A | 0.25% | 5.00% | N/A |
Trading Fees
| XMMDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Max Redemption Fee | N/A | 1.00% | 1.00% | 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.
| XMMDX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
|---|---|---|---|---|
| Turnover | 20.00% | 0.00% | 283.00% | 58.20% |
XMMDX - Distributions
Dividend Yield Analysis
| XMMDX | Category Low | Category High | XMMDX % Rank | |
|---|---|---|---|---|
| Dividend Yield | 0.00% | 0.00% | 14.51% | 95.64% |
Dividend Distribution Analysis
| XMMDX | Category Low | Category High | Category Mod | |
|---|---|---|---|---|
| Dividend Distribution Frequency | Monthly | Monthly | Monthly | Monthly |
Net Income Ratio Analysis
| XMMDX | Category Low | Category High | XMMDX % Rank | |
|---|---|---|---|---|
| Net Income Ratio | 4.88% | -0.53% | 5.33% | 0.48% |
Capital Gain Distribution Analysis
| XMMDX | Category Low | Category High | Capital Mode | |
|---|---|---|---|---|
| Capital Gain Distribution Frequency | Annually | Annually | Annually |
Distributions History
| Date | Amount | Type |
|---|---|---|
| Jun 13, 2019 | $0.085 | OrdinaryDividend |
| May 14, 2019 | $0.085 | OrdinaryDividend |
| Apr 12, 2019 | $0.085 | OrdinaryDividend |
| Mar 14, 2019 | $0.085 | OrdinaryDividend |
| Feb 14, 2019 | $0.085 | OrdinaryDividend |
| Jan 14, 2019 | $0.085 | OrdinaryDividend |
| Dec 13, 2018 | $0.085 | OrdinaryDividend |
| Nov 14, 2018 | $0.085 | OrdinaryDividend |
| Oct 12, 2018 | $0.085 | OrdinaryDividend |
| Sep 13, 2018 | $0.085 | OrdinaryDividend |
| Aug 14, 2018 | $0.085 | OrdinaryDividend |
| Jul 13, 2018 | $0.085 | OrdinaryDividend |
| Jun 14, 2018 | $0.090 | OrdinaryDividend |
| May 14, 2018 | $0.090 | OrdinaryDividend |
| Apr 13, 2018 | $0.090 | OrdinaryDividend |
| Mar 14, 2018 | $0.090 | OrdinaryDividend |
| Feb 14, 2018 | $0.090 | OrdinaryDividend |
| Jan 12, 2018 | $0.090 | OrdinaryDividend |
| Dec 14, 2017 | $0.090 | OrdinaryDividend |
| Nov 14, 2017 | $0.090 | OrdinaryDividend |
| Oct 13, 2017 | $0.090 | OrdinaryDividend |
| Sep 14, 2017 | $0.090 | OrdinaryDividend |
| Aug 11, 2017 | $0.090 | OrdinaryDividend |
| Jul 12, 2017 | $0.090 | OrdinaryDividend |
| Jun 13, 2017 | $0.090 | OrdinaryDividend |
| May 11, 2017 | $0.090 | OrdinaryDividend |
| Apr 12, 2017 | $0.090 | OrdinaryDividend |
| Mar 13, 2017 | $0.090 | OrdinaryDividend |
| Feb 13, 2017 | $0.090 | OrdinaryDividend |
| Jan 12, 2017 | $0.090 | OrdinaryDividend |
| Dec 13, 2016 | $0.090 | OrdinaryDividend |
| Nov 10, 2016 | $0.090 | OrdinaryDividend |
| Oct 12, 2016 | $0.090 | OrdinaryDividend |
| Sep 13, 2016 | $0.090 | OrdinaryDividend |
| Aug 11, 2016 | $0.090 | OrdinaryDividend |
| Jul 13, 2016 | $0.090 | OrdinaryDividend |
| Jun 13, 2016 | $0.098 | OrdinaryDividend |
| May 12, 2016 | $0.098 | OrdinaryDividend |
| Apr 13, 2016 | $0.098 | OrdinaryDividend |
| Mar 11, 2016 | $0.098 | OrdinaryDividend |
| Feb 11, 2016 | $0.098 | OrdinaryDividend |
| Jan 13, 2016 | $0.098 | OrdinaryDividend |
| Dec 11, 2015 | $0.098 | OrdinaryDividend |
| Nov 12, 2015 | $0.098 | OrdinaryDividend |
| Oct 13, 2015 | $0.098 | OrdinaryDividend |
| Sep 11, 2015 | $0.098 | OrdinaryDividend |
| Aug 12, 2015 | $0.098 | OrdinaryDividend |
| Jul 13, 2015 | $0.098 | OrdinaryDividend |
| Jun 11, 2015 | $0.098 | OrdinaryDividend |
| May 13, 2015 | $0.098 | OrdinaryDividend |
| Apr 13, 2015 | $0.098 | OrdinaryDividend |
| Mar 12, 2015 | $0.098 | OrdinaryDividend |
| Feb 12, 2015 | $0.098 | OrdinaryDividend |
| Jan 13, 2015 | $0.098 | OrdinaryDividend |
| Dec 17, 2014 | $0.098 | OrdinaryDividend |
| Nov 18, 2014 | $0.098 | OrdinaryDividend |
| Oct 16, 2014 | $0.098 | OrdinaryDividend |
| Sep 11, 2014 | $0.097 | OrdinaryDividend |
| Aug 13, 2014 | $0.097 | OrdinaryDividend |
| Jul 11, 2014 | $0.097 | OrdinaryDividend |
| Jun 12, 2014 | $0.096 | OrdinaryDividend |
| May 13, 2014 | $0.096 | OrdinaryDividend |
| Apr 11, 2014 | $0.096 | OrdinaryDividend |
| Mar 12, 2014 | $0.096 | OrdinaryDividend |
| Feb 12, 2014 | $0.096 | OrdinaryDividend |
| Jan 13, 2014 | $0.096 | OrdinaryDividend |
| Dec 12, 2013 | $0.330 | CapitalGainShortTerm |
| Dec 12, 2013 | $0.018 | CapitalGainLongTerm |
| Dec 12, 2013 | $0.096 | OrdinaryDividend |
| Nov 13, 2013 | $0.096 | OrdinaryDividend |
| Oct 10, 2013 | $0.096 | OrdinaryDividend |
| Sep 12, 2013 | $0.096 | OrdinaryDividend |
| Aug 13, 2013 | $0.096 | OrdinaryDividend |
| Jul 11, 2013 | $0.096 | OrdinaryDividend |
| Jun 12, 2013 | $0.096 | OrdinaryDividend |
| May 13, 2013 | $0.096 | OrdinaryDividend |
| Apr 11, 2013 | $0.096 | OrdinaryDividend |
| Mar 13, 2013 | $0.096 | OrdinaryDividend |
| Feb 13, 2013 | $0.096 | OrdinaryDividend |
| Jan 11, 2013 | $0.096 | OrdinaryDividend |
| Dec 12, 2012 | $0.199 | CapitalGainShortTerm |
| Dec 12, 2012 | $0.096 | OrdinaryDividend |
| Nov 13, 2012 | $0.096 | OrdinaryDividend |
| Oct 11, 2012 | $0.096 | OrdinaryDividend |
| Sep 12, 2012 | $0.096 | OrdinaryDividend |
XMMDX - Fund Manager Analysis
Managers
John Loffredo
Start Date
Tenure
Tenure Rank
Jun 27, 2012
9.93
9.9%
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
Jun 27, 2012
9.93
9.9%
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.
Scott Sprauer
Start Date
Tenure
Tenure Rank
Jun 27, 2012
9.93
9.9%
Mr. Sprauer is a Senior Managing Director. He joined MacKay Shields in 2009 as a Portfolio Manager in the Municipal Bond Division. He has managed the MainStay MacKay New York Tax Free Opportunities Fund, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2012, MainStay MacKay California Tax Free Opportunities Fund since 2013, MainStay MacKay High Yield Municipal Bond Fund, MainStay MacKay Tax Free Bond Fund since 2014 and MainStay MacKay U.S. Infrastructure Bond Fund since 2019. Before joining the firm, he was Head Trader, Fixed Income at Financial Guaranty Insurance Company. Mr. Sprauer was previously with Dreyfus Corporation and Merrill Lynch Investment Managers as a Municipal Bond Portfolio Manager/Trader. He has a BSBA from Villanova University, and has been in the investment management industry since 1991.
Michael Petty
Start Date
Tenure
Tenure Rank
Jun 27, 2012
9.93
9.9%
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.
David Dowden
Start Date
Tenure
Tenure Rank
Jun 27, 2012
9.93
9.9%
Mr. Dowden is a Managing Director and Portfolio Manager at MacKay Shields. He joined MacKay Shields in 2009 as a Portfolio Manager in the Municipal Bond Division. He has managed the MainStay MacKay New York Tax Free Opportunities Fund, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2012, MainStay MacKay California Tax Free Opportunities Fund since 2013, MainStay MacKay High Yield Municipal Bond Fund, MainStay MacKay Tax Free Bond Fund since 2014 and MainStay MacKay U.S. Infrastructure Bond Fund since 2019. Before joining the firm, he was Chief Investment Officer at Financial Guaranty Insurance Company. He was previously with Alliance Capital Management as a Senior Portfolio Manager and at Merrill Lynch & Co. as a Municipal Strategist. He has an AB from Brown University and an MBA from Columbia University. He has been in the investment management industry since 1989.
Tenure Analysis
| Category Low | Category High | Category Average | Category Mode |
|---|---|---|---|
| 0.08 | 35.05 | 7.36 | 1.58 |
