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Morningstar

MainStay MacKay CA Tax Free Opps A MSCAX

Morningstar Medalist Rating
Medalist Rating as of | See New York Life Investment Hub
  • NAV / 1-Day Return 9.67  /  +0.01 %
  • Total Assets 1.2 Bil
  • Adj. Expense Ratio
    0.750%
  • Expense Ratio 0.750%
  • Distribution Fee Level Below Average
  • Share Class Type Front Load
  • Category Muni California Long
  • Credit Quality / Interest Rate Sensitivity Medium/Extensive
  • Min. Initial Investment 15,000
  • Status Open
  • TTM Yield 3.52%
  • Effective Duration 8.59 years

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

Morningstar’s Analysis MSCAX

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

  • People Pillar

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

MainStay MacKay CA Tax Free Opps A 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
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Portfolio Holdings MSCAX

More MSCAX 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

4.35 49.1 Mil
Cash and Equivalents

LOS ANGELES CALIF DEPT WTR & PWR REV 0%

1.95 22.0 Mil
municipal

SACRAMENTO CALIF MUN UTIL DIST ELEC REV 0%

1.84 20.7 Mil
municipal

SOUTHERN CALIF PUB PWR AUTH SOUTHN TRANSMISSION SYS RENEWAL PROJ REV 5.25%

1.78 20.1 Mil
municipal

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5%

1.62 18.2 Mil
municipal

PUERTO RICO COMWLTH AQUEDUCT & SWR AUTH REV 5%

1.45 16.4 Mil
municipal

SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV 5.75%

1.43 16.1 Mil
municipal

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5.25%

1.16 13.0 Mil
municipal

LONG BEACH CALIF UNI SCH DIST 4%

1.12 12.6 Mil
municipal

MATCHING FD SPL PURP SECURITIZATION CORP VIRGIN IS 5%

1.09 12.2 Mil
municipal