MainStay MacKay Short Term Municipal has undergone multiple transitions in its recent history and has not demonstrated an edge within its category since it was last reorganized in 2018. This limits its Morningstar Analyst Rating to Neutral for most share classes, while its most expensive investor share class earns a Negative rating.
MainStay MacKay Short Term Municipal A MSTAX
NAV / 1-Day Return
9.71
/
0.00
%
Total Assets
1.9 Bil
Adj. Expense Ratio
Adjusted Expense Ratio excludes certain variable investment-related expenses, such as interest from borrowings and dividends on borrowed securities, allowing for more consistent cost comparisons across funds.
0.700%
Expense Ratio
0.700%
Fee Level
Above Average
Longest Manager Tenure
5.75
years
Category
Muni National Short
Credit Quality / Interest Rate Sensitivity
Medium / LimitedMin. Initial Investment
15,000
Status
Open
TTM Yield
1.00%
Effective Duration
2.10
years
Premium
Morningstar’s Analysis
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
The Morningstar Analysis section contains a thorough evaluation of an investment’s merits and drawbacks and often discusses the most important or decisive factors leading to the fund’s overall rating.
Will MSTAX 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 MSTAX’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar
The People Pillar is our evaluation of the MSTAX 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 MSTAX’s parent organization’s priorities and whether they’re in line with investors’ interests.
The strategy has become more stable after multiple mandate changes.
