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Trending ETFs

Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$9.30

$302 M

6.65%

$0.62

2.04%

Vitals

YTD Return

-4.8%

1 yr return

9.1%

3 Yr Avg Return

0.9%

5 Yr Avg Return

2.9%

Net Assets

$302 M

Holdings in Top 10

55.8%

52 WEEK LOW AND HIGH

$9.3
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 2.04%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 93.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000

IRA

$250


Fund Classification

Fund Type

Open End Mutual Fund


Name

As of 03/26/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$9.30

$302 M

6.65%

$0.62

2.04%

CRCRX - Profile

Distributions

  • YTD Total Return -4.8%
  • 3 Yr Annualized Total Return 0.9%
  • 5 Yr Annualized Total Return 2.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.66%
DIVIDENDS
  • Dividend Yield 6.6%
  • Dividend Distribution Frequency Quarterly

Fund Details

  • Legal Name
    MainStay CBRE Real Estate Fund
  • Fund Family Name
    MainStay Group of Funds
  • Inception Date
    Jan 17, 2003
  • Shares Outstanding
    477664
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Joseph Smith

Fund Description

Under normal circumstances, the Fund invests at least 80% of its assets (net assets plus borrowings for investment purposes) in common and preferred stocks of U.S. real estate investment trusts (“REITs”) and other real estate companies. The Fund’s Subadvisor, CBRE Investment Management Listed Real Assets LLC, defines a real estate company as a company that: (i) derives at least 50% of its total revenue or earnings from owning, operating, leasing, developing, managing, brokering and/or selling real estate; or (ii) has at least 50% of its assets invested in real estate. Companies principally engaged in the real estate industry may include REITs, real estate owners, real estate managers, real estate brokers, real estate dealers, and companies with substantial real estate holdings. The Fund is non-diversified, which means it may invest a greater percentage of its assets in a smaller number of issuers than a diversified fund. Under normal market conditions, the Fund will invest more than 25% of its total assets (concentrate its investments) in securities issued by companies principally engaged in the real estate industry.

The Subadvisor may invest in companies with any market capitalization. However, the Subadvisor will generally not invest in companies with a market capitalization of less than $100 million at the time of purchase. The Fund may also invest in convertible securities, initial public offerings, and Rule 144A securities.

The Fund may invest in other investment companies, including exchange-traded funds.

Investment Process: The Subadvisor focuses on investments that generally provide income and also have the potential for long-term capital appreciation. The Subadvisor uses systematic, top-down research to evaluate property market conditions and trends to judge which market sectors offer potentially attractive returns. The Subadvisor uses proprietary analytical techniques to conduct fundamental company analysis, which provides a framework for security selection. This approach incorporates several quantitative and qualitative factors that aid in evaluating performance characteristics of individual securities independently and relative to each other. The Subadvisor will also typically employ portfolio optimization tools to help in its evaluation of the Fund’s current portfolio and its identification of potential investments for the Fund. The Subadvisor's investment approach, with its emphasis on investments in companies primarily engaged in the real estate industry, is expected to produce a total return that is closely tied to the performance of the market for publicly traded real estate companies, including real estate investment trusts, which is a narrow segment of the overall U.S. stock market.

The Subadvisor includes environmental, social and governance (“ESG”) considerations in its analysis to help identify companies that balance the needs of all stakeholders in their communities and address ESG issues. ESG factors are assessed based on internal research and information from an independent global provider of ESG and corporate governance research. The Subadvisor’s approach and implementation of all factors – including ESG – is applied consistently across all investments and industries and does not change based on the size of the company or potential position size. As ESG considerations are assessed alongside the fundamental valuation model in the Subadvisor’s analysis, the Subadvisor generally will not forgo potential investments strictly based on evaluation of ESG factors.

The Subadvisor may sell securities for a variety of reasons, such as to secure gains, limit losses, or redeploy assets into opportunities believed to be more promising, among others.

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CRCRX - Performance

Return Ranking - Trailing

Period CRCRX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.8% -12.1% 6.0% 67.06%
1 Yr 9.1% -14.5% 29.8% 68.24%
3 Yr 0.9%* -11.1% 10.5% 47.79%
5 Yr 2.9%* -11.3% 15.9% 53.28%
10 Yr 4.7%* -1.4% 15.0% 72.55%

* Annualized

Return Ranking - Calendar

Period CRCRX Return Category Return Low Category Return High Rank in Category (%)
2023 8.0% -17.6% 24.6% 56.47%
2022 -46.2% -51.3% 2.7% 98.82%
2021 45.3% -7.7% 52.3% 3.61%
2020 -8.8% -42.2% 35.0% 52.34%
2019 9.7% -0.6% 43.1% 82.74%

Total Return Ranking - Trailing

Period CRCRX Return Category Return Low Category Return High Rank in Category (%)
YTD -4.8% -12.1% 6.0% 67.06%
1 Yr 9.1% -14.5% 29.8% 68.24%
3 Yr 0.9%* -11.1% 10.5% 47.79%
5 Yr 2.9%* -11.3% 15.9% 53.28%
10 Yr 4.7%* -1.4% 15.0% 72.55%

* Annualized

Total Return Ranking - Calendar

Period CRCRX Return Category Return Low Category Return High Rank in Category (%)
2023 11.0% -14.0% 25.0% 67.45%
2022 -27.8% -40.7% 7.8% 75.20%
2021 51.0% 7.8% 54.6% 6.83%
2020 -7.2% -36.6% 44.3% 72.34%
2019 27.8% 3.4% 46.4% 46.02%

NAV & Total Return History


CRCRX - Holdings

Concentration Analysis

CRCRX Category Low Category High CRCRX % Rank
Net Assets 302 M 1.73 M 56.5 B 50.19%
Number of Holdings 41 18 501 36.03%
Net Assets in Top 10 155 M 711 K 26.1 B 49.63%
Weighting of Top 10 55.82% 15.7% 82.2% 41.91%

Top 10 Holdings

  1. Equinix, Inc. 8.69%
  2. Public Storage 7.53%
  3. Realty Income Corp. 6.69%
  4. Simon Property Group, Inc. 5.60%
  5. Prologis, Inc. 5.39%
  6. American Tower Corp. 5.00%
  7. Welltower, Inc. 4.78%
  8. VICI Properties, Inc. 4.31%
  9. Rexford Industrial Realty, Inc. 3.97%
  10. SBA Communications Corp. 3.85%

Asset Allocation

Weighting Return Low Return High CRCRX % Rank
Stocks
99.57% 0.00% 106.01% 15.07%
Cash
0.51% -42.50% 20.74% 81.99%
Preferred Stocks
0.00% 0.00% 31.13% 24.63%
Other
0.00% -89.96% 112.19% 31.62%
Convertible Bonds
0.00% 0.00% 10.95% 13.65%
Bonds
0.00% -3.17% 148.00% 23.16%

Stock Sector Breakdown

Weighting Return Low Return High CRCRX % Rank
Real Estate
100.00% 34.46% 100.00% 3.10%
Utilities
0.00% 0.00% 3.55% 9.69%
Technology
0.00% 0.00% 12.02% 29.84%
Industrials
0.00% 0.00% 7.39% 15.50%
Healthcare
0.00% 0.00% 0.53% 9.69%
Financial Services
0.00% 0.00% 37.05% 22.09%
Energy
0.00% 0.00% 33.11% 10.47%
Communication Services
0.00% 0.00% 11.61% 18.22%
Consumer Defense
0.00% 0.00% 0.93% 8.14%
Consumer Cyclical
0.00% 0.00% 45.29% 44.57%
Basic Materials
0.00% 0.00% 13.69% 13.57%

Stock Geographic Breakdown

Weighting Return Low Return High CRCRX % Rank
US
99.57% 0.00% 106.01% 10.29%
Non US
0.00% 0.00% 40.58% 16.91%

CRCRX - Expenses

Operational Fees

CRCRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 2.04% 0.07% 24.62% 21.93%
Management Fee 0.75% 0.00% 1.50% 47.06%
12b-1 Fee 1.00% 0.00% 1.00% 80.15%
Administrative Fee N/A 0.01% 0.45% 46.62%

Sales Fees

CRCRX 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% 1.00% 5.71%

Trading Fees

CRCRX 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.

CRCRX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 93.00% 0.11% 380.00% 79.05%

CRCRX - Distributions

Dividend Yield Analysis

CRCRX Category Low Category High CRCRX % Rank
Dividend Yield 6.65% 0.00% 13.25% 45.96%

Dividend Distribution Analysis

CRCRX Category Low Category High Category Mod
Dividend Distribution Frequency Quarterly Annual Monthly Quarterly

Net Income Ratio Analysis

CRCRX Category Low Category High CRCRX % Rank
Net Income Ratio 0.66% -1.14% 6.05% 73.98%

Capital Gain Distribution Analysis

CRCRX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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CRCRX - Fund Manager Analysis

Managers

Joseph Smith


Start Date

Tenure

Tenure Rank

Dec 31, 2019

2.42

2.4%

Mr. Smith has managed the MainStay CBRE Global Infrastructure Megatrends Fund since 2021 and the MainStay CBRE Global Infrastructure Fund since 2021. He joined CBRE's predecessor firm in 1997. Prior to that, Mr. Smith worked in various management and analyst positions in the real estate industry including positions at Alex Brown & Sons, PaineWebber and Radnor Advisors. Mr. Smith has over 29 years of real estate investment management experience. He has his B.S. from Villanova University and his M.B.A. from the Wharton School, University of Pennsylvania. He is also a CFA charterholder.

Kenneth Weinberg


Start Date

Tenure

Tenure Rank

Dec 31, 2019

2.42

2.4%

Kenneth Weinberg is a Global Portfolio Manager, a member of CBRE Investment Management’s Listed Real Assets business’ Global Investment Policy Committee, and co-leader of the U.S. real estate securities research team. Kenneth joined the predecessor firm of CBRE Investment Management's Listed Real Assets business in 2004. Prior to that, Kenneth worked in various management and analyst positions in the real estate industry including positions with Legg Mason Wood Walker, Inc. and Prudential Real Estate Investors. Kenneth has over 28 years of real estate investment management experience. Credentials - National Association of Real Estate Investment Trusts (NAREIT) - Chartered Financial Analyst (CFA) Education - M.B.A., Fuqua School, Duke University, 1999 - B.S., Duke University (cum laude and with Departmental Distinction), 1991

Jonathan Miniman


Start Date

Tenure

Tenure Rank

Dec 31, 2019

2.42

2.4%

Mr. Miniman is a Global Portfolio Manager, a member of the Listed Real Assets Global Investment Policy Committee, and co-leader of the U.S. real estate securities research team. Jonathan joined the predecessor firm of CBRE Investment Management's Listed Real Assets business in 2002. Prior to that, Jonathan worked at Group One Trading as a trader. Jonathan has over 20 years of financial industry experience. Credentials - National Association of Real Estate Investment Trusts (NAREIT) - Chartered Financial Analyst (CFA) Education - B.S., Villanova University, 2001 (cum laude)

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 28.42 7.9 2.23