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Morningstar

MainStay MacKay High Yield Muncpl Bd Inv MMHVX

Morningstar Medalist Rating
Medalist Rating as of | See New York Life Investment Hub
  • NAV / 1-Day Return 11.53  /  0.01 %
  • Total Assets 7.8 Bil
  • Adj. Expense Ratio
    0.870%
  • Expense Ratio 0.880%
  • Distribution Fee Level Above Average
  • Share Class Type Front Load
  • Category High Yield Muni
  • Credit Quality / Interest Rate Sensitivity —
  • Min. Initial Investment 2,500
  • Status Open
  • TTM Yield 3.94%
  • Effective Duration 8.90 years

USD | NAV as of Jun 05, 2023 | 1-Day Return as of Jun 05, 2023, 10:09 PM GMT+0

Morningstar’s Analysis MMHVX

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

People Pillar

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

An experienced team leads this high-yield muni offering.

Senior Analyst Paul Olmsted

Paul Olmsted

Senior Analyst

Summary

MainStay MacKay High Yield Municipal Bond's experienced muni investment team follows a dynamic approach to achieve strong performance. This tight-knit group has been together for many years, and its growing credit analyst team, low personnel turnover, and fund ownership earn an upgrade to a High People rating. The strategy’s cheapest share classes now carry a Morningstar Analyst Rating of Silver; its costlier share class is rated Neutral.

by Paul Olmsted
Rated on Published on

Unlock our full analysis with Morningstar Investor

Portfolio Holdings MMHVX

More MMHVX Holdings
  • Current Portfolio Date
  • Equity Holdings 0
  • Bond Holdings 1246
  • Other Holdings 16
  • % Assets in Top 10 Holdings —
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

BUCKEYE OHIO TOB SETTLEMENT FING AUTH 5%

2.15
166,228,484
municipal

PUERTO RICO COMWLTH AQUEDUCT & SWR AUTH REV 5%

1.53
118,007,663
municipal

MATCHING FD SPL PURP SECURITIZATION CORP VIRGIN IS 5%

1.35
104,136,660
municipal

GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 0%

1.25
96,839,792
municipal

METROPOLITAN WASH D C ARPTS AUTH DULLES TOLL RD REV 4%

1.20
92,495,674
municipal

Cash & Cash Equivalents

1.12
86,909,730
Cash and Equivalents

GDB DEBT RECOVERY AUTH OF COMWLTH PUERTO RICO 7.5%

1.11
85,975,851
municipal

Us Dollar

1.03
79,786,515
Cash and Equivalents

PUERTO RICO SALES TAX FING CORP SALES TAX REV 5%

0.97
75,172,134
municipal

NEW YORK TRANSN DEV CORP SPL FAC REV 4.375%

0.93
71,542,916
municipal