MainStay Epoch Capital Growth Fund
Name
As of 04/30/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
Vitals
YTD Return
2.5%
1 yr return
16.9%
3 Yr Avg Return
5.6%
5 Yr Avg Return
12.7%
Net Assets
$155 M
Holdings in Top 10
17.0%
52 WEEK LOW AND HIGH
Expenses
OPERATING FEES
Expense Ratio 2.20%
SALES FEES
Front Load N/A
Deferred Load 1.00%
TRADING FEES
Turnover 80.00%
Redemption Fee N/A
Min Investment
Standard (Taxable)
$2,500
IRA
N/A
Fund Classification
Fund Type
Open End Mutual Fund
Name
As of 04/30/2024Price
Aum/Mkt Cap
YIELD
Exp Ratio
Watchlist
MECEX - Profile
Distributions
- YTD Total Return 2.5%
- 3 Yr Annualized Total Return 5.6%
- 5 Yr Annualized Total Return 12.7%
- Capital Gain Distribution Frequency Annually
- Net Income Ratio -1.09%
- Dividend Yield 0.0%
- Dividend Distribution Frequency Annual
Fund Details
-
Legal NameMainStay Epoch Capital Growth Fund
-
Fund Family NameMainStay Group of Funds
-
Inception DateJun 30, 2016
-
Shares Outstanding84171
-
Share ClassC
-
CurrencyUSD
-
Domiciled CountryUS
-
ManagerMichael Welhoelter
Fund Description
The Fund generally invests in a diversified portfolio consisting of equity securities of companies located throughout the world, including the United States, that have a history of earning a high return on their invested capital relative to their cost of capital and that have positive growth in operating cash flow. Under normal circumstances, the Fund invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in equity securities of companies across all market capitalizations. Equity securities include, among others, common stocks, depositary receipts, master limited partnerships, real estate investment trusts, warrants, and rights. The Fund may invest up to 20% of its net assets in securities issued by companies in emerging markets as determined by the Fund's Subadvisor, Epoch Investment Partners, Inc., when it believes those securities represent attractive investment opportunities. Securities held by the Fund may be denominated in both U.S. and non-U.S. currencies. Under normal market conditions, the Fund will invest a significant amount (ranging from 20% to 60%) of its net assets in foreign securities. An issuer of a security is considered to be a U.S. or foreign issuer based on the issuer’s “country of risk” (or similar designation) as determined by a third-party such as Bloomberg, Factset or ICE Data Services Inc. The Subadvisor defines emerging market countries as those countries that are included in the MSCI Emerging Markets Index. The Fund will normally invest in companies in at least three countries outside of the United States. The Fund does not have any explicit limits on the weighting within any individual country or sector.
Investment Process: The Subadvisor invests primarily in companies that generate increasing levels of free cash flow and, in the view of the Subadvisor, allocate free cash flow effectively to grow the value of the company. Free cash flow is the cash generated by a company’s operations, minus cash taxes paid and all planned capital expenditures.
The security selection process focuses on free-cash-flow analytics as opposed to traditional accounting-based metrics. The Subadvisor seeks to identify companies with a consistent, straightforward ability to both generate free cash flow and to reinvest it in a way that generates a return on investment that is greater than the firm's cost of capital.
Material environmental, social and governance ("ESG") factors are identified and monitored by the Subadvisor. Material ESG factors vary by company and industry, but the Subadvisor pays particular attention to factors relating to climate change and corporate governance. This information is taken into account by the Subadvisor in making investment decisions. Material ESG factors are identified and monitored by the Subadvisor through review of ESG information published by the company (where relevant) or selected specialist third-party research and data providers. While the Subadvisor considers ESG factors in the investment decision-making process of the Fund, this does not mean that ESG considerations are the sole or foremost considerations for investment decisions.
The Subadvisor may sell or reduce a position in a security when it believes its investment objectives have been met or if the investment thesis is failing to materialize. The Subadvisor may also sell or reduce a position in a security if it sees a deterioration in fundamentals or when the security is deemed less attractive relative to another security on a return/risk basis.
MECEX - Performance
Return Ranking - Trailing
Period | MECEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.5% | -35.6% | 29.2% | 26.62% |
1 Yr | 16.9% | 17.3% | 252.4% | 38.86% |
3 Yr | 5.6%* | -3.5% | 34.6% | 22.87% |
5 Yr | 12.7%* | 0.1% | 32.7% | N/A |
10 Yr | N/A* | -6.9% | 18.3% | N/A |
* Annualized
Return Ranking - Calendar
Period | MECEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 28.2% | -24.3% | 957.1% | 70.92% |
2022 | -21.1% | -38.3% | 47.1% | 52.59% |
2021 | -5.5% | -54.2% | 0.6% | 56.26% |
2020 | 6.2% | -76.0% | 54.1% | 29.72% |
2019 | 21.0% | -26.1% | 47.8% | N/A |
Total Return Ranking - Trailing
Period | MECEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
YTD | 2.5% | -35.6% | 29.2% | 27.40% |
1 Yr | 16.9% | 11.4% | 252.4% | 38.18% |
3 Yr | 5.6%* | -3.5% | 34.6% | 21.41% |
5 Yr | 12.7%* | 0.1% | 32.7% | N/A |
10 Yr | N/A* | -6.9% | 18.3% | N/A |
* Annualized
Total Return Ranking - Calendar
Period | MECEX Return | Category Return Low | Category Return High | Rank in Category (%) |
---|---|---|---|---|
2023 | 28.2% | -24.3% | 957.1% | 70.92% |
2022 | -20.3% | -33.1% | 47.1% | 52.97% |
2021 | 23.9% | -44.4% | 1.8% | 70.79% |
2020 | 28.2% | -6.5% | 54.1% | 29.28% |
2019 | 27.0% | -14.4% | 47.8% | N/A |
NAV & Total Return History
MECEX - Holdings
Concentration Analysis
MECEX | Category Low | Category High | MECEX % Rank | |
---|---|---|---|---|
Net Assets | 155 M | 199 K | 133 B | 79.06% |
Number of Holdings | 106 | 1 | 9075 | 27.20% |
Net Assets in Top 10 | 27.2 M | -18 M | 37.6 B | 84.14% |
Weighting of Top 10 | 17.02% | 9.1% | 100.0% | 92.56% |
Top 10 Holdings
- BE Semiconductor Industries NV 1.99%
- Deckers Outdoor Corp. 1.83%
- Costco Wholesale Corp. 1.80%
- Ameriprise Financial, Inc. 1.75%
- Industria de Diseno Textil SA 1.67%
- Eli Lilly Co. 1.66%
- Meta Platforms, Inc., Class A 1.60%
- Alphabet, Inc., Class A 1.58%
- Alimentation Couche-Tard, Inc. 1.58%
- Arista Networks, Inc. 1.56%
Asset Allocation
Weighting | Return Low | Return High | MECEX % Rank | |
---|---|---|---|---|
Stocks | 99.00% | 61.84% | 125.47% | 43.28% |
Cash | 1.00% | -174.70% | 23.12% | 50.66% |
Preferred Stocks | 0.00% | -0.01% | 5.28% | 38.22% |
Other | 0.00% | -13.98% | 19.14% | 46.26% |
Convertible Bonds | 0.00% | 0.00% | 4.46% | 30.84% |
Bonds | 0.00% | -1.50% | 161.67% | 34.25% |
Stock Sector Breakdown
Weighting | Return Low | Return High | MECEX % Rank | |
---|---|---|---|---|
Healthcare | 21.58% | 0.00% | 35.42% | 6.06% |
Technology | 20.51% | 0.00% | 49.87% | 30.29% |
Consumer Cyclical | 16.08% | 0.00% | 40.94% | 36.12% |
Financial Services | 13.27% | 0.00% | 38.42% | 71.70% |
Industrials | 12.85% | 0.00% | 44.06% | 23.02% |
Consumer Defense | 7.56% | 0.00% | 73.28% | 34.14% |
Communication Services | 7.30% | 0.00% | 57.66% | 80.73% |
Real Estate | 0.43% | 0.00% | 39.48% | 72.91% |
Basic Materials | 0.42% | 0.00% | 38.60% | 75.22% |
Utilities | 0.00% | 0.00% | 29.12% | 80.29% |
Energy | 0.00% | 0.00% | 21.15% | 76.54% |
Stock Geographic Breakdown
Weighting | Return Low | Return High | MECEX % Rank | |
---|---|---|---|---|
US | 65.30% | 0.13% | 103.82% | 39.43% |
Non US | 33.70% | 0.58% | 99.46% | 57.60% |
MECEX - Expenses
Operational Fees
MECEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Expense Ratio | 2.20% | 0.01% | 44.27% | 15.51% |
Management Fee | 0.75% | 0.00% | 1.82% | 56.46% |
12b-1 Fee | 1.00% | 0.00% | 1.00% | 83.81% |
Administrative Fee | N/A | 0.01% | 0.76% | N/A |
Sales Fees
MECEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Front Load | N/A | 2.50% | 5.75% | N/A |
Deferred Load | 1.00% | 1.00% | 5.00% | 35.00% |
Trading Fees
MECEX 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.
MECEX Fees (% of AUM) | Category Return Low | Category Return High | Rank in Category (%) | |
---|---|---|---|---|
Turnover | 80.00% | 0.00% | 395.00% | 55.62% |
MECEX - Distributions
Dividend Yield Analysis
MECEX | Category Low | Category High | MECEX % Rank | |
---|---|---|---|---|
Dividend Yield | 0.00% | 0.00% | 3.26% | 30.53% |
Dividend Distribution Analysis
MECEX | Category Low | Category High | Category Mod | |
---|---|---|---|---|
Dividend Distribution Frequency | Annual | Annually | Annually | Annually |
Net Income Ratio Analysis
MECEX | Category Low | Category High | MECEX % Rank | |
---|---|---|---|---|
Net Income Ratio | -1.09% | -4.27% | 12.65% | 96.25% |
Capital Gain Distribution Analysis
MECEX | Category Low | Category High | Capital Mode | |
---|---|---|---|---|
Capital Gain Distribution Frequency | Annually | Annually | Semi-Annually | Annually |
MECEX - Fund Manager Analysis
Managers
Michael Welhoelter
Start Date
Tenure
Tenure Rank
Jun 30, 2016
5.92
5.9%
Mike is Co-Chief Investment Officer of Epoch Investment Partners. He is also Chief Risk Officer. Mike is responsible for integrating risk management into the investment process. Prior to joining Epoch in 2005, he was a director and portfolio manager in the Quantitative Strategies Group at Columbia Management Group, Inc. Before that, Mike was at Credit Suisse Asset Management Group (“CSAM”), where he was a portfolio manager in the Structured Equity group. Before joining CSAM, he was a portfolio manager and quantitative research analyst at Chancellor/LGT Asset Management.
William Priest
Start Date
Tenure
Tenure Rank
Jun 30, 2016
5.92
5.9%
Mr. William Priest is a Co-Founder and serves as Chief Executive Officer, Portfolio Manager & Co-Chief Investment Officer at Epoch Investment Partners. Prior to cofounding Epoch in 2004 with David Pearl, Tim Taussig and Phil Clark, Bill was a Co-Managing Partner and portfolio manager at Steinberg Priest & Sloane Capital Management, LLC for three years. Before joining Steinberg
Steven Bleiberg
Start Date
Tenure
Tenure Rank
Jun 30, 2016
5.92
5.9%
Steven is a portfolio manager and is involved with the design and development of investment strategies. He is also a contributor to Epoch's thought leadership. Prior to joining Epoch in 2014, Steven served as a portfolio manager at Legg Mason responsible for managing $7.5B in various asset allocation-based funds including Target Risk, Target Date and Dynamic Risk Management. Prior to that, he was the head of investment strategy at Citigroup Asset Management and a portfolio manager at Credit Suisse Asset Management.
David Siino
Start Date
Tenure
Tenure Rank
Sep 22, 2016
5.69
5.7%
David is a portfolio manager and senior equity research analyst. Prior to joining Epoch in 2007, he was a research analyst with Gabelli & Company where he was responsible for covering the financial services sector, overseeing the automotive sector research team and making buy/sell recommendations for the Gabelli mutual funds. Before joining Gabelli & Company, David was an assistant research director for Barron's Business and Financial Weekly. David holds a BA from Hofstra University and an MBA from Baruch College.
Tenure Analysis
Category Low | Category High | Category Average | Category Mode |
---|---|---|---|
0.01 | 35.82 | 6.24 | 1.25 |