MTBIX: MainStay MacKay Tax Free Bond Fund - MutualFunds.com
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Trending ETFs

Name

Price

Aum/Mkt Cap

YIELD & DIV

Exp Ratio

Watchlist

$10.72

-

0.00%

0.50%

Vitals

YTD Return

0.2%

1 yr return

4.7%

3 Yr Avg Return

5.5%

5 Yr Avg Return

3.8%

Net Assets

$9.12 B

Holdings in Top 10

10.3%

52 WEEK LOW AND HIGH

$10.72
$10.42
$10.83

Expenses

OPERATING FEES

Expense Ratio 0.50%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 72.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

$1,000,000

IRA

N/A


Fund Classification

Fund Type

Open End Mutual Fund

Investment Style

Muni National Long


Name

Price

Aum/Mkt Cap

YIELD & DIV

Exp Ratio

Watchlist

$10.72

-

0.00%

0.50%

MTBIX - Profile

Distributions

  • YTD Total Return 0.2%
  • 3 Yr Annualized Total Return 5.5%
  • 5 Yr Annualized Total Return 3.8%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.28%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    MainStay MacKay Tax Free Bond Fund
  • Fund Family Name
    New York Life Investment Management LLC
  • Inception Date
    Dec 21, 2009
  • Shares Outstanding
    522960933
  • Share Class
    Inst
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    John Loffredo

Fund Description

The fund, under normal circumstances, invests at least 80% of its assets (net assets plus borrowings for investment purposes) in municipal bonds that are rated investment grade. On average, it will invest in municipal bonds that have a maturity range of 10 to 30 years. The fund may not invest more than 20% of its net assets in tax-exempt securities subject to the federal alternative minimum tax.


MTBIX - Performance

Return Ranking - Trailing

Period MTBIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -88.5% 9.9% 40.30%
1 Yr 4.7% -20.5% 20.4% 28.13%
3 Yr 5.5%* -6.2% 10.9% 15.84%
5 Yr 3.8%* -3.5% 7.1% 8.91%
10 Yr 5.3%* -0.2% 9.3% 9.06%

* Annualized

Return Ranking - Calendar

Period MTBIX Return Category Return Low Category Return High Rank in Category (%)
2020 3.5% -91.1% 310.0% 3.79%
2019 4.6% -79.8% 15.4% 24.28%
2018 -1.7% -72.6% 97.2% 23.71%
2017 2.3% -100.0% 7.6% 26.31%
2016 -2.6% -35.9% 96.8% 36.82%

Total Return Ranking - Trailing

Period MTBIX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -88.5% 9.6% 40.38%
1 Yr 4.7% -24.2% 24.2% 21.40%
3 Yr 5.5%* -7.0% 11.7% 14.42%
5 Yr 3.8%* -4.0% 7.1% 7.57%
10 Yr 5.3%* -0.6% 9.3% 8.84%

* Annualized

Total Return Ranking - Calendar

Period MTBIX Return Category Return Low Category Return High Rank in Category (%)
2020 3.5% -91.1% 310.0% 3.79%
2019 4.6% -79.8% 15.4% 24.64%
2018 -1.7% -72.6% 11.0% 25.87%
2017 2.3% -100.0% 7.6% 30.21%
2016 -2.6% -35.9% 3.0% 40.37%

NAV & Total Return History


MTBIX - Holdings

Concentration Analysis

MTBIX Category Low Category High MTBIX % Rank
Net Assets 9.12 B 882 K 88.1 B 3.78%
Number of Holdings 1124 1 12437 6.57%
Net Assets in Top 10 919 M -308 M 3.93 B 1.31%
Weighting of Top 10 10.33% 2.4% 100.0% 87.35%

Top 10 Holdings

  1. Us 10yr Note (Cbt)dec20 Xcbt 20201221 6.83%
  2. Us 10yr Note (Cbt)dec20 Xcbt 20201221 6.83%
  3. Us 10yr Note (Cbt)dec20 Xcbt 20201221 6.83%
  4. Us 10yr Note (Cbt)dec20 Xcbt 20201221 6.83%
  5. Us 10yr Note (Cbt)dec20 Xcbt 20201221 6.83%
  6. Us 10yr Note (Cbt)dec20 Xcbt 20201221 6.83%
  7. Us 10yr Note (Cbt)dec20 Xcbt 20201221 6.83%
  8. Us 10yr Note (Cbt)dec20 Xcbt 20201221 6.83%
  9. Us 10yr Note (Cbt)dec20 Xcbt 20201221 6.83%
  10. Us 10yr Note (Cbt)dec20 Xcbt 20201221 6.83%

Asset Allocation

Weighting Return Low Return High MTBIX % Rank
Bonds
93.64% 46.14% 145.79% 87.72%
Cash
6.67% -45.79% 53.86% 10.90%
Stocks
0.00% -0.15% 2.80% 77.97%
Preferred Stocks
0.00% -3.40% 1.05% 76.90%
Convertible Bonds
0.00% -0.02% 1.09% 78.04%
Other
-0.30% -9.70% 30.00% 99.35%

Bond Sector Breakdown

Weighting Return Low Return High MTBIX % Rank
Municipal
93.25% 46.14% 100.00% 86.98%
Cash & Equivalents
6.64% 0.00% 53.86% 12.49%
Corporate
0.11% 0.00% 11.97% 10.98%
Derivative
0.00% 0.00% 0.09% 77.96%
Securitized
0.00% 0.00% 8.03% 78.61%
Government
0.00% 0.00% 50.63% 79.96%

Bond Geographic Breakdown

Weighting Return Low Return High MTBIX % Rank
US
92.15% 0.00% 141.11% 82.78%
Non US
1.49% 0.00% 100.00% 37.47%

MTBIX - Expenses

Operational Fees

MTBIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.50% 0.04% 4.23% 58.20%
Management Fee 0.41% 0.00% 1.60% 43.22%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.47% N/A

Sales Fees

MTBIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

MTBIX 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.

MTBIX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 72.00% 0.00% 299.40% 93.19%

MTBIX - Distributions

Dividend Yield Analysis

MTBIX Category Low Category High MTBIX % Rank
Dividend Yield 0.00% 0.00% 35.27% 78.47%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

MTBIX Category Low Category High MTBIX % Rank
Net Income Ratio 2.28% -1.65% 24.00% 46.27%

Capital Gain Distribution Analysis

MTBIX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Quarterly Monthly Monthly

Dividend Payout History

View More +

MTBIX - Fund Manager Analysis

Managers

John Loffredo


Start Date

Tenure

Tenure Rank

Jul 01, 2009

12.18

12.2%

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.

Robert DiMella


Start Date

Tenure

Tenure Rank

Jul 01, 2009

12.18

12.2%

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.

Michael Petty


Start Date

Tenure

Tenure Rank

Feb 28, 2011

10.51

10.5%

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.

Scott Sprauer


Start Date

Tenure

Tenure Rank

Feb 28, 2014

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.

Frances Lewis


Start Date

Tenure

Tenure Rank

Feb 28, 2014

7.51

7.5%

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.

David Dowden


Start Date

Tenure

Tenure Rank

Feb 28, 2014

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.

Michael Denlinger


Start Date

Tenure

Tenure Rank

Feb 28, 2021

0.5

0.5%

Mr. Denlinger joined MacKay Shields in 2019 and is currently a Director. Prior to joining MacKay Shields, he was an institutional municipal credit trader at Bank of America Merrill Lynch with a primary focus on taxable and healthcare securities. Prior to trading credit, he was a high grade municipal trader. Mr. Denlinger earned a Bachelor’s degree in Economics from Johns Hopkins University in 2014. Mr. Denlinger is a CFA Charterholder and has been in the financial services industry since 2014.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.01 36.44 7.21 0.83