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Morningstar

MainStay MacKay Convertible A MCOAX

Morningstar Medalist Rating
Medalist Rating as of | See New York Life Investment Hub
  • NAV / 1-Day Return 17.82  /  0.06 %
  • Total Assets 1.6 Bil
  • Adj. Expense Ratio
    0.920%
  • Expense Ratio 0.920%
  • Distribution Fee Level Low
  • Share Class Type Front Load
  • Category Convertibles
  • Investment Style Mid Growth
  • Min. Initial Investment 15,000
  • Status Open
  • TTM Yield 1.42%
  • Turnover 14%

USD | NAV as of Sep 22, 2023 | 1-Day Return as of Sep 22, 2023, 10:07 PM GMT+0

Morningstar’s Analysis MCOAX

Will MCOAX 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 MCOAX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the MCOAX 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 MCOAX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Sensible and selective—a solid choice.

Analyst Chiayi Tsui

Chiayi Tsui

Analyst

Summary

MainStay MacKay Convertible Bond’s selective investment mindset and strong fundamental work allow the team to ride through rough patches without major bruises, and a sensible, valuation-driven approach results in resilient performance. The strategy’s cheapest share class earns a Morningstar Medalist Rating of Bronze, while its more expensive options earn Neutral ratings.

by Chiayi Tsui
Rated on Published on

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Portfolio Holdings MCOAX

More MCOAX Holdings
  • Current Portfolio Date
  • Equity Holdings 5
  • Bond Holdings 0
  • Other Holdings 107
  • % Assets in Top 10 Holdings —
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

MainStay US Government Liquidity I

8.92
150,224,800
Cash and Equivalents

Nice Limited 0%

2.69
45,276,053
Corporate

EQT Corporation 1.75%

2.61
44,019,025
Corporate

Microchip Technology Incorporated 0.125%

2.28
38,440,688
Corporate

Biomarin Pharmaceutical Inc. 1.25%

2.08
34,978,989
Corporate

Pioneer Natural Resources Company 0.25%

2.08
34,967,465
Corporate

Helix Energy Solutions Group, Inc. 6.75%

1.97
33,203,925
Corporate

Lantheus Holdings Inc 2.625%

1.89
31,897,185
Corporate

Southwest Airlines Co. 1.25%

1.80
30,398,406
Corporate

Permian Resources Corp 3.25%

1.72
29,024,281
Corporate