MSODX: MainStay MacKay CA Tax Free Opps R6

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MSODX MainStay MacKay CA Tax Free Opps R6


Profile

MSODX - Profile

Vitals

  • YTD Return 0.6%
  • 3 Yr Annualized Return N/A
  • 5 Yr Annualized Return N/A
  • Net Assets $1.08 B
  • Holdings in Top 10 14.1%

52 WEEK LOW AND HIGH

$10.84
$9.60
$11.14

Expenses

OPERATING RELATED FEES

  • Expense Ratio N/A

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 47.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

Closed to new investors as of Feb 28, 2019
  • Standard (Taxable) $0
  • IRA N/A

Fund Classification


Distributions

  • YTD Total Return 0.6%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 0.2%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    MainStay MacKay California Tax Free Opportunities Fund
  • Fund Family Name
    MainStay
  • Inception Date
    Nov 01, 2019
  • Shares Outstanding
    N/A
  • Share Class
    Retirement
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    John Loffredo

Fund Description

The fund invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in municipal bonds, whose interest is, in the opinion of bond counsel for the issuers at the time of issuance, exempt from federal and California income taxes. It may invest up to 20% of its net assets in municipal bonds subject to the federal alternative minimum tax, and municipal bonds that pay interest that is subject to federal and California income taxes.


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Categories

Performance

MSODX - Performance

Return Ranking - Trailing

Period MSODX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% -3.0% 303.2% 48.59%
1 Yr N/A -3.4% 297.6% 11.28%
3 Yr N/A* -0.9% 58.8% 5.00%
5 Yr N/A* -0.7% 31.6% 4.71%
10 Yr N/A* -0.3% 15.0% N/A

* Annualized

Return Ranking - Calendar

Period MSODX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A 2.4% 7.5% N/A
2018 N/A -4.3% 2.8% N/A
2017 N/A -0.2% 6.8% N/A
2016 N/A -4.7% -1.7% N/A
2015 N/A -1.9% 1.8% N/A

Total Return Ranking - Trailing

Period MSODX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% -3.0% 303.2% 48.59%
1 Yr N/A -3.4% 297.6% 8.21%
3 Yr N/A* -0.9% 59.1% 3.89%
5 Yr N/A* -0.7% 31.9% 3.53%
10 Yr N/A* -0.3% 15.5% N/A

* Annualized

Total Return Ranking - Calendar

Period MSODX Return Category Return Low Category Return High Rank in Category (%)
2019 N/A 2.4% 7.5% N/A
2018 N/A -4.3% 2.8% N/A
2017 N/A -0.2% 6.9% N/A
2016 N/A -4.6% 0.8% N/A
2015 N/A -1.9% 3.7% N/A

NAV & Total Return History


Holdings

MSODX - Holdings

Concentration Analysis

MSODX Category Low Category High MSODX % Rank
Net Assets 1.08 B 2.99 M 17.2 B 40.11%
Number of Holdings 469 20 4740 28.81%
Net Assets in Top 10 72.6 M 1.83 M 3.01 B 62.71%
Weighting of Top 10 14.14% 3.5% 61.1% 66.67%

Top 10 Holdings

  1. Us 10yr Note (Cbt)sep20 Xcbt 20200921 3.23%
  2. INVESCO MUNI INC TR 46132H601 1.58%
  3. PUERTO RICO SALES TAX FING CORP SALES TAX REV 5% 1.41%
  4. SAN FRANCISCO CALIF BAY AREA RAPID TRAN DIST 4% 1.24%
  5. ORANGE CNTY CALIF LOC TRANSN AUTH SALES TAX REV 4% 1.23%
  6. CALIFORNIA MUN FIN AUTH REV 4% 1.21%
  7. NAPA VY CALIF UNI SCH DIST 4% 1.17%
  8. SACRAMENTO CALIF MUN UTIL DIST ELEC REV 5% 1.11%
  9. ANAHEIM CALIF PUB FING AUTH LEASE REV 5% 1.00%
  10. SACRAMENTO CALIF MUN UTIL DIST ELEC REV 4% 0.95%

Asset Allocation

Weighting Return Low Return High MSODX % Rank
Bonds
94.54% 88.08% 101.44% 88.70%
Cash
5.46% -1.43% 11.92% 11.86%
Stocks
0.00% 0.00% 0.10% 77.97%
Preferred Stocks
0.00% 0.00% 0.00% 76.84%
Other
0.00% 0.00% 3.39% 76.84%
Convertible Bonds
0.00% 0.00% 0.00% 76.84%

Bond Sector Breakdown

Weighting Return Low Return High MSODX % Rank
Municipal
94.63% 49.29% 101.06% 86.44%
Cash & Equivalents
5.37% -0.27% 13.85% 12.43%
Derivative
0.00% 0.00% 0.00% 76.84%
Securitized
0.00% 0.00% 0.00% 76.84%
Corporate
0.00% 0.00% 2.58% 77.97%
Government
0.00% -0.79% 49.18% 77.40%

Bond Geographic Breakdown

Weighting Return Low Return High MSODX % Rank
US
88.70% 85.92% 101.11% 93.79%
Non US
5.84% 0.00% 9.10% 15.82%

Expenses

MSODX - Expenses

Operational Fees

MSODX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio N/A 0.09% 3.74% N/A
Management Fee 0.50% 0.00% 0.63% 78.53%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.33% N/A

Sales Fees

MSODX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.25% 4.75% N/A
Deferred Load N/A 1.00% 5.00% N/A

Trading Fees

MSODX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% 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.

MSODX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 47.00% 2.00% 235.00% 85.23%

Distributions

MSODX - Distributions

Dividend Yield Analysis

MSODX Category Low Category High MSODX % Rank
Dividend Yield 0.23% 0.00% 0.60% 4.52%

Dividend Distribution Analysis

MSODX Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

MSODX Category Low Category High MSODX % Rank
Net Income Ratio N/A 0.73% 3.84% N/A

Capital Gain Distribution Analysis

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

Dividend Payout History

View More +

Fund Manager Analysis

MSODX - Fund Manager Analysis

Managers

John Loffredo


Start Date

Tenure

Tenure Rank

Feb 28, 2013

7.51

7.5%

John joined MacKay Shields in July 2009 when the firm acquired the assets of Mariner Municipal Managers LLC. He was the Chairman and co-founder of Mariner Municipal Managers from 2007 to 2009. He has been a municipal portfolio manager and/or municipal analyst since 1990, with a broad range of portfolio management and analytic experience in the municipal markets. John was a Managing Director and Co-Head of BlackRock’s Municipal Portfolio Management Group (from 2006 to 2007). Prior to BlackRock’s merger with Merrill Lynch Investment Managers (MLIM), he served as Chief Investment Officer of the Municipal Products Group. He was employed by Merrill Lynch from 1990 to 2006. Before Merrill Lynch, he worked for the City of Boston Treasury Department. John is a member of the firm’s Senior Leadership Team. He graduated with an MBA and Certificate of Public Management from Boston University and with a Bachelors degree in Finance, cum laude, from Utah State University where he was a Harry S. Truman Scholar. He is a CFA Charterholder.

Scott Sprauer


Start Date

Tenure

Tenure Rank

Feb 28, 2013

7.51

7.5%

Scott joined MacKay Shields in 2009. Before joining the firm he was Head Trader, Fixed Income, at Financial Guaranty Insurance Company. Scott was previously with Dreyfus Corporation and Merrill Lynch Investment Managers as a Municipal Bond Portfolio Manager/Trader. He has a BSBA from Villanova University. Scott has been in the investment management industry since 1991.

Michael Petty


Start Date

Tenure

Tenure Rank

Feb 28, 2013

7.51

7.5%

Mike joined MacKay Shields in July 2009. Before joining the firm he was a Portfolio Manager for Mariner Municipal Managers. He has been a municipal bond portfolio manager since 1992, and has worked in the municipal products market since 1985. Mike has a broad array of trading, portfolio management, and sales experience. Prior to joining Mariner Municipal Managers, he was a Senior Portfolio Manager at Dreyfus Corporation from 1997 to 2009. From 1992 to 1997, he served as a Portfolio Manager for Merrill Lynch Investment Managers. He is a member of the firm’s Management Committee. Mike graduated from Hobart College with a B.S. in Mathematics and Economics.

David Dowden


Start Date

Tenure

Tenure Rank

Feb 28, 2013

7.51

7.5%

David joined MacKay Shields in 2009. Before joining the firm he was Chief Investment Officer at Financial Guaranty Insurance Company. David was previously with Alliance Capital Management as a Senior Portfolio Manager and at Merrill Lynch & Co. as a Municipal Strategist. David has an AB from Brown University and an MBA from Columbia University. He has been in the investment management industry since 1989.

Robert DiMella


Start Date

Tenure

Tenure Rank

Feb 28, 2013

7.51

7.5%

Robert joined MacKay Shields in July 2009 when the firm acquired the assets of Mariner Municipal Managers LLC. He was the President and co-founder of Mariner Municipal Managers from 2007 to 2009. He has been a municipal portfolio manager since 1992, with a broad range of trading and portfolio management experience in the municipal markets. Robert was a Managing Director and Co-Head of BlackRock’s Municipal Portfolio Management Group (from 2006 to 2007). Prior to BlackRock’s merger with Merrill Lynch Investment Managers, he served as a Senior Portfolio Manager and Managing Director of the Municipal Products Group. He was employed by Merrill Lynch from 1993 to 2006. Robert is a member of the firm’s Senior Leadership Team. He earned his Master’s degree at Rutgers University Business School and an undergraduate degree at the University of Connecticut. He is a CFA Charterholder.

Frances Lewis


Start Date

Tenure

Tenure Rank

Feb 28, 2017

3.51

3.5%

Frances Lewis joined MacKay Shields in July 2009 and is currently a Senior Managing Director. Ms. Lewis was the Director of Research for Mariner Municipal Managers and was previously at Merrill Lynch. Ms. Lewis began her municipal analyst career in 1991 as an Analyst for Merrill Lynch Investment Managers where she was a Senior Fund Analyst covering various sectors of the municipal market and becoming a Director in the Municipal Research Group in 1997. Ms. Lewis earned an MBA from Boston University and a BA from the University of Michigan.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.17 31.69 9.23 7.51