MainStay Fiera SMID Growth Fund
Name
As of 04/25/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
2.2%
1 yr return
22.6%
3 Yr Avg Return
-8.1%
5 Yr Avg Return
-0.5%
Net Assets
$216 M
Holdings in Top 10
29.9%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 1.20%
SALES FEES
Front Load N/A
Deferred Load N/A
TRADING FEES
Turnover 24.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$1,000
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/25/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
APSRX - Profile
Distributions
- YTD Total Return 2.2%
- 3 Yr Annualized Total Return -8.1%
- 5 Yr Annualized Total Return -0.5%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -0.55%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameMainStay Fiera SMID Growth Fund
-
Fund Family NameMainStay Group of Funds
-
Inception DateFeb 12, 2018
-
Shares OutstandingN/A
-
Share ClassA
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Kalbfleisch
Fund Description
Fiera Capital Inc. (the “Subadvisor”) seeks to achieve the Fund’s investment objective by investing in a diversified portfolio of common stocks of companies believed to be small- and mid-cap growth-oriented companies that are selected for their long-term capital appreciation potential and which the Subadvisor expects to grow faster than the U.S. economy.
The Fund considers an issuer to be a small- or mid-capitalization issuer if it has a market capitalization, at the time of purchase, within the range of Russell 2500TM Growth Index (which as of December 31, 2023 ranged from $25 million to $22.2 billion) or the Russell Midcap® Growth Index (which as of December 31, 2023 ranged from $978 million to $73.3 billion). These ranges are subject to change over time due to changes in market and/or economic conditions. The Fund may also invest in exchange-traded funds (“ETFs”).
The Fund may also invest in companies that are in the earlier stages of their growth cycle that the Subadvisor recognizes as “emerging growth” companies. The Subadvisor believes that emerging growth companies can typically exhibit more aggressive growth characteristics and may be experiencing a significant positive transformation or a favorable catalyst impacting their long-term earnings potential. Characteristics the Subadvisor considers in identifying emerging growth companies for the Fund include accelerating revenue growth, strong relative strength, company specific market advantage, or an introduction of a new product line with a large addressable marketplace.
Under normal circumstances, the Fund will invest at least 80% of its assets (net assets plus the amount of any borrowings for investment purposes) in common stocks of small- and mid-cap companies. The Fund may invest up to 15% of its assets in common stocks of foreign small- and mid-cap companies through the purchase of sponsored American Depositary Receipts (“ADRs”), sponsored Global Depositary Receipts and/or foreign companies listed on U.S. stock exchanges.
An issuer is considered to be U.S. or foreign based on the issuer’s “country of risk” (or similar designation) as determined by a third party such as Bloomberg.
The Fund may from time to time emphasize one or more sectors as defined by GICs classification in selecting its investments, including the information technology, health care and consumer staples sectors.
Investment Process:
In selecting investments for the Fund, the Subadvisor uses an approach that combines “top-down” secular/macro-economic trend analysis with “bottom-up” security selection. The “top-down” approach takes into consideration factors such as interest rates, inflation, fiscal and monetary policy, global demographic trends, the regulatory environment and other attractive global investment opportunities. In addition, the Subadvisor may make investments in companies that seek to benefit from secular growth trends.
Through this “top-down” view, the Subadvisor seeks to provide a framework for “bottom-up” research by identifying sectors, industries and companies that may benefit from the sustainability of the observed trends.
The Subadvisor then looks to fundamental “bottom-up” research for individual companies that it believes are exhibiting earnings growth potential at different stages of a company’s growth cycle and may benefit from the observed secular/macro trends. The core investments of the Fund typically include more established companies that the Subadvisor recognizes as “stable growth” companies, but the Fund may also invest in “emerging growth” companies. The Subadvisor believes that stable growth companies can typically provide more stability and consistency in volatile markets and are identified as exhibiting potential earnings acceleration, consistency of earnings, solid fundamentals (e.g., a strong balance sheet and the ability to generate free cash flow), franchise durability and reasonable valuations in the context of projected growth rates.
The Fund may sell securities and other investments when the Subadvisor believes that they have achieved full valuation, the Subadvisor identifies a more attractive investment, the Fund needs to maintain portfolio diversification, or an individual stock experiences declining fundamentals, negative earnings reports or similar adverse events or other relevant factors. In general, once the market capitalization of an investment exceeds the market capitalization ranges stated above, the Subadvisor expects to gradually liquidate the position.
APSRX - Performance
Return Ranking - Trailing
Period | APSRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.2% | -16.7% | 22.3% | 59.63% |
1 Yr | 22.6% | -7.4% | 56.2% | 26.21% |
3 Yr | -8.1%* | -29.9% | 79.0% | 89.69% |
5 Yr | -0.5%* | -4.8% | 97.9% | 97.96% |
10 Yr | N/A* | -0.1% | 36.9% | N/A |
* Annualized
Return Ranking - Calendar
Period | APSRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 21.4% | -27.7% | 68.0% | 36.80% |
2022 | -35.0% | -85.6% | 350.1% | 72.34% |
2021 | 4.2% | -77.0% | 238.3% | 33.46% |
2020 | 18.9% | -44.1% | 2474.5% | 73.76% |
2019 | 17.3% | -50.2% | 44.0% | 84.63% |
Total Return Ranking - Trailing
Period | APSRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.2% | -16.7% | 22.3% | 59.63% |
1 Yr | 22.6% | -7.4% | 56.2% | 26.21% |
3 Yr | -8.1%* | -29.9% | 79.0% | 89.69% |
5 Yr | -0.5%* | -4.8% | 97.9% | 97.96% |
10 Yr | N/A* | -0.1% | 36.9% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | APSRX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 24.8% | -26.1% | 68.0% | 23.98% |
2022 | -35.0% | -67.0% | 440.7% | 85.05% |
2021 | 4.2% | -23.5% | 342.2% | 86.73% |
2020 | 18.9% | 2.6% | 2549.1% | 93.04% |
2019 | 17.3% | 14.6% | 44.8% | 99.18% |
NAV & Total Return History
APSRX - Holdings
Concentration Analysis
APSRX | Category Low | Category High | APSRX % Rank | |
---|---|---|---|---|
Net Assets | 216 M | 2.73 M | 100 B | 80.00% |
Number of Holdings | 66 | 25 | 3644 | 65.56% |
Net Assets in Top 10 | 95.6 M | 449 K | 9.69 B | 72.96% |
Weighting of Top 10 | 29.86% | 0.4% | 99.9% | 31.67% |
Top 10 Holdings
- MainStay U.S. Government Liquidity Fund, Class I 6.21%
- HubSpot, Inc. 3.24%
- Entegris, Inc. 3.12%
- MongoDB, Inc. 2.87%
- GoDaddy, Inc., Class A 2.73%
- Gitlab, Inc., Class A 2.54%
- Tyler Technologies, Inc. 2.51%
- BWX Technologies, Inc. 2.25%
- Hyatt Hotels Corp., Class A 2.24%
- Neurocrine Biosciences, Inc. 2.16%
Asset Allocation
Weighting | Return Low | Return High | APSRX % Rank | |
---|---|---|---|---|
Stocks | 92.85% | 0.92% | 101.30% | 96.30% |
Cash | 7.15% | 0.00% | 99.08% | 3.70% |
Preferred Stocks | 0.00% | 0.00% | 5.46% | 91.85% |
Other | 0.00% | -0.18% | 16.96% | 91.30% |
Convertible Bonds | 0.00% | 0.00% | 0.40% | 91.48% |
Bonds | 0.00% | -3.27% | 1.87% | 91.30% |
Stock Sector Breakdown
Weighting | Return Low | Return High | APSRX % Rank | |
---|---|---|---|---|
Technology | 29.76% | 0.04% | 62.17% | 61.85% |
Healthcare | 26.86% | 0.00% | 37.06% | 5.93% |
Consumer Cyclical | 14.75% | 0.00% | 57.41% | 44.44% |
Industrials | 11.80% | 0.00% | 38.23% | 76.11% |
Financial Services | 5.86% | 0.00% | 43.01% | 55.19% |
Energy | 5.16% | 0.00% | 62.10% | 13.15% |
Basic Materials | 3.91% | 0.00% | 17.25% | 27.41% |
Communication Services | 1.91% | 0.00% | 18.33% | 63.33% |
Utilities | 0.00% | 0.00% | 12.94% | 94.07% |
Real Estate | 0.00% | 0.00% | 19.28% | 97.59% |
Consumer Defense | 0.00% | 0.00% | 16.40% | 97.59% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | APSRX % Rank | |
---|---|---|---|---|
US | 92.85% | 0.64% | 101.30% | 87.78% |
Non US | 0.00% | 0.00% | 34.57% | 92.78% |
APSRX - Expenses
Operational Fees
APSRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 1.20% | 0.02% | 17.54% | 39.11% |
Management Fee | 0.75% | 0.00% | 1.50% | 62.34% |
12b-1 Fee | 0.25% | 0.00% | 1.00% | 63.00% |
Administrative Fee | N/A | 0.00% | 0.40% | N/A |
Sales Fees
APSRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 3.00% | 5.75% | N/A |
Deferred Load | N/A | 1.00% | 5.00% | N/A |
Trading Fees
APSRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Max Redemption Fee | N/A | 1.00% | 2.00% | N/A |
Related Fees
Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.
APSRX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 24.00% | 0.00% | 250.31% | 26.95% |
APSRX - Distributions
Dividend Yield Analysis
APSRX | Category Low | Category High | APSRX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 33.99% | 4.81% |
Dividend Distribution Analysis
APSRX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annual | Annual | Annual |
Net Income Ratio Analysis
APSRX | Category Low | Category High | APSRX % Rank | |
---|---|---|---|---|
Net Income Ratio | -0.55% | -2.24% | 2.75% | 46.99% |
Capital Gain Distribution Analysis
APSRX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Annually | Annually |
Distributions History
Date | Amount | Type |
---|---|---|
Dec 05, 2023 | $0.415 | OrdinaryDividend |
Dec 22, 2022 | $2.291 | OrdinaryDividend |
Dec 22, 2021 | $2.407 | OrdinaryDividend |
Dec 20, 2019 | $1.911 | OrdinaryDividend |
APSRX - Fund Manager Analysis
Managers
Michael Kalbfleisch
Start Date
Tenure
Tenure Rank
Jul 01, 2018
3.92
3.9%
Michael Kalbfleisch, CFA, CPA, is a Senior Vice President at the Adviser.Having been in the industry since 1986, Mr. Kalbfleisch brings more than three decades of investment management experience to the equity team. Mr. Kalbfleisch was a Principal and Portfolio Manager at Apex until its acquisition by the Adviser in June 2016. He joined Apex in 2000 after serving as Chief Operating Officer for Retirement Capital Advisers; prior to that he was a member of the Investment Committee at Dean Investment Associates. He is also a past Vice President at John Nuveen & Co. From 1986 – 1996 Mike was Chief Financial Officer at Flagship Financial. Mike is an adjunct professor of finance at The University of Dayton. He received his BS in Accounting from the University of Dayton, where he graduated Magna Cum Laude.
Sunil Reddy
Start Date
Tenure
Tenure Rank
Jul 01, 2018
3.92
3.9%
Sunil M. Reddy, CFA, is a Senior Vice President at the Adviser with diverse investment management experience accumulating since 1991. Sunil has over 18 years of experience in the investment management business as a portfolio manager and a research analyst. Sunil is a member of the investment committee at Fiera Growth strategies in addition to covering Technology, Financial and Consumer Discretionary sectors. His background includes stints in portfolio management, equity analysis and in corporate debt underwriting, trading and syndication roles. Mr. Reddy joined Apex from Fifth Third where he co-managed the Fifth Third Quality Growth Fund and was the sole manager for the Fifth Third Technology fund. In addition, Mr. Reddy was an integral member of the Growth team covering the Technology and Financial sectors. Sunil also has extensive Fixed Income experience having managed a $6 billion fixed income portfolio at Fifth Third.In addition to his portfolio management experience Sunil served as Senior Equity Analyst while at Fifth Third Asset Management. Prior to Fifth Third Sunil was a portfolio manager at KeyCorp. At Keycorp, Mr. Reddy was involved in various funding and interest rate risk management strategies for the Funds Management group. Mr. Reddy is a Chartered Financial Analyst, an M.B.A from Weatherhead School of Management, Case Western Reserve University and an undergraduate degree in Electrical Engineering from The Ohio State University.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.04 | 36.3 | 9.35 | 11.76 |