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Name

As of 11/14/2024

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

MainStay MacKay DefinedTerm Municipal Opportunities Fund of Beneficial Interest

XMMDX | Fund

$16.89

$508 M

0.00%

1.64%

Vitals

YTD Return

-1.8%

1 yr return

4.1%

3 Yr Avg Return

-6.8%

5 Yr Avg Return

-3.7%

Net Assets

$508 M

Holdings in Top 10

23.7%

52 WEEK LOW AND HIGH

$16.9
N/A
N/A

Expenses

OPERATING FEES

Expense Ratio 1.64%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 20.00%

Redemption Fee N/A

Min Investment

Standard (Taxable)

N/A

IRA

N/A

Fund Classification

Fund Type

Closed-end mutual fund

Name

As of 11/14/2024

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

MainStay MacKay DefinedTerm Municipal Opportunities Fund of Beneficial Interest

XMMDX | Fund

$16.89

$508 M

0.00%

1.64%

XMMDX - Profile

Distributions

  • YTD Total Return -1.8%
  • 3 Yr Annualized Total Return -6.8%
  • 5 Yr Annualized Total Return -3.7%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 4.88%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    MainStay MacKay DefinedTerm Municipal Opportunities Fund of Beneficial Interest
  • Fund Family Name
    New York Life Investment Management LLC
  • Inception Date
    Jul 26, 2012
  • Shares Outstanding
    27824252
  • Share Class
    Other
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    John Loffredo

Fund Description

XMMDX - Performance

Return Ranking - Trailing

Period XMMDX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.8% -5.6% 31.6% 96.40%
1 Yr 4.1% 0.1% 42.6% 96.47%
3 Yr -6.8%* -11.3% 3.3% 97.29%
5 Yr -3.7%* -6.9% 1103.7% 96.86%
10 Yr 1.3%* -0.9% 248.7% 71.16%

* Annualized

Return Ranking - Calendar

Period XMMDX Return Category Return Low Category Return High Rank in Category (%)
2023 2.8% -1.4% 41.0% 48.73%
2022 -20.2% -39.7% 0.3% 96.41%
2021 0.0% -5.6% 6.9% 31.22%
2020 2.5% -2.6% 310.0% 16.94%
2019 3.0% 0.0% 26.0% 78.59%

Total Return Ranking - Trailing

Period XMMDX Return Category Return Low Category Return High Rank in Category (%)
YTD -1.8% -5.6% 31.6% 96.40%
1 Yr 4.1% 0.1% 42.6% 96.47%
3 Yr -6.8%* -11.3% 3.3% 97.29%
5 Yr -3.7%* -6.9% 1103.7% 96.86%
10 Yr 1.3%* -0.9% 248.7% 71.16%

* Annualized

Total Return Ranking - Calendar

Period XMMDX Return Category Return Low Category Return High Rank in Category (%)
2023 2.8% -1.3% 41.0% 97.86%
2022 -20.2% -39.7% 1.1% 96.41%
2021 0.0% -4.8% 23761504.0% 88.82%
2020 2.5% -1.5% 17057.9% 84.72%
2019 5.6% 0.2% 3514.6% 71.52%

NAV & Total Return History

XMMDX - Holdings

Concentration Analysis

XMMDX Category Low Category High XMMDX % Rank
Net Assets 508 M 3.22 M 71.9 B 46.90%
Number of Holdings 118 4 13418 78.36%
Net Assets in Top 10 126 M -317 M 3.09 B 36.28%
Weighting of Top 10 23.68% 1.8% 100.3% 25.98%

Top 10 Holdings

  1. GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 5.3% 4.53%
  2. BROWARD CNTY FLA CONVENTION CTR HOTEL REV 5.5% 3.48%
  3. GOLDEN ST TOB SECURITIZATION CORP CALIF TOB SETTLEMENT REV 0% 3.24%
  4. CHINO VY UNI SCH DIST CALIF 5% 3.20%
  5. PUERTO RICO SALES TAX FING CORP SALES TAX REV 5% 3.20%
  6. TENDER OPT BD TR RCPTS / CTFS VAR STS 0% 2.86%
  7. PUERTO RICO COMWLTH AQUEDUCT & SWR AUTH REV 6% 2.59%
  8. CHILDRENS TR FD P R TOB SETTLEMENT REV 5.5% 2.50%
  9. PUERTO RICO CONVENTION CTR DIST AUTH HOTEL OCCUPANCY TAX 4.5% 2.39%
  10. SAN DIEGO CNTY CALIF REGL ARPT AUTH ARPT REV 5% 2.12%

Asset Allocation

Weighting Return Low Return High XMMDX % Rank
Bonds 		94.33% 0.00% 150.86% 92.02%
Cash 		5.67% -50.86% 44.62% 7.46%
Stocks 		0.00% 0.00% 99.78% 56.49%
Preferred Stocks 		0.00% 0.00% 0.07% 48.54%
Other 		0.00% -3.69% 51.88% 52.80%
Convertible Bonds 		0.00% 0.00% 0.93% 48.26%

Bond Sector Breakdown

Weighting Return Low Return High XMMDX % Rank
Municipal 		93.74% 44.39% 100.00% 86.30%
Cash & Equivalents 		6.26% 0.00% 44.41% 5.06%
Derivative 		0.00% -3.69% 51.88% 50.80%
Securitized 		0.00% 0.00% 5.93% 49.26%
Corporate 		0.00% 0.00% 9.41% 57.49%
Government 		0.00% 0.00% 52.02% 52.27%

Bond Geographic Breakdown

Weighting Return Low Return High XMMDX % Rank
US 		80.40% 0.00% 142.23% 98.34%
Non US 		13.93% 0.00% 23.89% 0.13%

XMMDX - Expenses

Operational Fees

XMMDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 1.64% 0.01% 8.02% 7.59%
Management Fee 0.60% 0.00% 1.20% 97.34%
12b-1 Fee N/A 0.00% 1.00% N/A
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

XMMDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

XMMDX 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.

XMMDX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 20.00% 0.00% 283.00% 58.78%

XMMDX - Distributions

Dividend Yield Analysis

XMMDX Category Low Category High XMMDX % Rank
Dividend Yield 0.00% 0.00% 14.51% 97.67%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

XMMDX Category Low Category High XMMDX % Rank
Net Income Ratio 4.88% -0.53% 5.33% 0.47%

Capital Gain Distribution Analysis

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

Distributions History

View More +

XMMDX - Fund Manager Analysis

Managers

John Loffredo

Start Date

Tenure

Tenure Rank

Jun 27, 2012

9.93

9.9%

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

Jun 27, 2012

9.93

9.9%

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.

Scott Sprauer

Start Date

Tenure

Tenure Rank

Jun 27, 2012

9.93

9.9%

Mr. Sprauer is a Senior Managing Director. He joined MacKay Shields in 2009 as a Portfolio Manager in the Municipal Bond Division. He has managed the MainStay MacKay New York Tax Free Opportunities Fund, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2012, MainStay MacKay California Tax Free Opportunities Fund since 2013, MainStay MacKay High Yield Municipal Bond Fund, MainStay MacKay Tax Free Bond Fund since 2014 and MainStay MacKay U.S. Infrastructure Bond Fund since 2019. Before joining the firm, he was Head Trader, Fixed Income at Financial Guaranty Insurance Company. Mr. Sprauer was previously with Dreyfus Corporation and Merrill Lynch Investment Managers as a Municipal Bond Portfolio Manager/Trader. He has a BSBA from Villanova University, and has been in the investment management industry since 1991.

Michael Petty

Start Date

Tenure

Tenure Rank

Jun 27, 2012

9.93

9.9%

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

Jun 27, 2012

9.93

9.9%

Mr. Dowden is a Managing Director and Portfolio Manager at MacKay Shields. He joined MacKay Shields in 2009 as a Portfolio Manager in the Municipal Bond Division. He has managed the MainStay MacKay New York Tax Free Opportunities Fund, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2012, MainStay MacKay California Tax Free Opportunities Fund since 2013, MainStay MacKay High Yield Municipal Bond Fund, MainStay MacKay Tax Free Bond Fund since 2014 and MainStay MacKay U.S. Infrastructure Bond Fund since 2019. Before joining the firm, he was Chief Investment Officer at Financial Guaranty Insurance Company. He was previously with Alliance Capital Management as a Senior Portfolio Manager and at Merrill Lynch & Co. as a Municipal Strategist. He has an AB from Brown University and an MBA from Columbia University. He has been in the investment management industry since 1989.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.35 1.58

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