Skip to Content
Morningstar

MainStay MacKay NY Tax Free Opps Inv MNOVX

Morningstar Medalist Rating
Medalist Rating as of | See New York Life Investment Hub
  • NAV / 1-Day Return 9.57  /  +0.01 %
  • Total Assets 1.2 Bil
  • Adj. Expense Ratio
    0.770%
  • Expense Ratio 0.770%
  • Distribution Fee Level Average
  • Share Class Type Front Load
  • Category Muni New York Long
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 2,500
  • Status Open
  • TTM Yield 3.54%
  • Effective Duration 8.23 years

USD | NAV as of Apr 18, 2024 | 1-Day Return as of Apr 18, 2024, 10:04 PM GMT+0

Morningstar’s Analysis MNOVX

Will MNOVX outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable MNOVX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the MNOVX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of MNOVX’s parent organization’s priorities and whether they’re in line with investors’ interests.

MainStay MacKay NY Tax Free Opps Inv boasts strong Process and People Pillar ratings, but other weaknesses hold this strategy's Morningstar Medalist Rating at Neutral.

null Morningstar Manager Research

Morningstar Manager Research

Summary

Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the second-highest quintile among peers.

by Morningstar Manager Research
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings MNOVX

More MNOVX Holdings
  • Current Portfolio Date
  • Equity Holdings —
  • Bond Holdings —
  • Other Holdings —
  • % Assets in Top 10 Holdings —
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

BlackRock Liquidity MuniCash Instl

3.01 35.5 Mil
Cash and Equivalents

NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 5%

1.83 21.6 Mil
municipal

NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV 5.25%

1.73 20.5 Mil
municipal

PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.784%

1.31 15.5 Mil
municipal

NUVEEN NEW YORK AMT-FREE MUN INCOME FD 0%

1.27 15.0 Mil
municipal

BATTERY PK CITY AUTH N Y REV 5%

1.18 13.9 Mil
municipal

NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV 0%

1.12 13.3 Mil
municipal

OSWEGO N Y CITY SCH DIST 4.75%

1.06 12.6 Mil
municipal

MATCHING FD SPL PURP SECURITIZATION CORP VIRGIN IS 5%

1.04 12.2 Mil
municipal

TRIBOROUGH BRDG & TUNL AUTH N Y SALES TAX REV 5.5%

0.99 11.7 Mil
municipal