Performance data quoted represents past performance. Past performance is no guarantee of future results. Due to market volatility, current performance may be less or higher than the figures shown. Investment return and principal value will fluctuate so that upon redemption, shares may be worth more or less than their original cost. Performance figures for all Funds reflect contractual waivers and/or expense limitations, without which total returns may have been lower. These limitations may be modified or terminated only with Board approval.
The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance (this does not include the effects of sales charges, loads, and redemption fees). The top 10% of products in each product category receive 5stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.
Morningstar ratings as of 1/31/21. IQ MacKay Municipal Insured ETF Morningstar Risk-Adjusted Ratings: US Fund Muni National Interm Category - Overall Rating 5 stars out of 250 funds, 3 Year 5 stars out of 250 funds. MainStay Floating Rate Fund Morningstar Risk-Adjusted Ratings: US Fund Bank Loan Category - Class A Shares Overall Rating 3 stars out of 232 funds, 3 Year 3 stars out of 232 funds, 5 Year 3 stars out of 207 funds, 10 Year 3 stars out of 97 funds. MainStay MacKay Short Term Municipal Fund Morningstar Risk-Adjusted Ratings: US Fund Muni National Short Category - Class A Shares Overall Rating 3 stars out of 201 funds, 3 Year 3 stars out of 201 funds, 5 Year 3 stars out of 178 funds, 10 Year 2 stars out of 137 funds. MainStay MacKay U.S. Infrastructure Bond Fund Morningstar Risk-Adjusted Ratings: US Fund Intermediate Core Bond Category - Class A Shares Overall Rating 1 stars out of 381 funds, 3 Year 2 stars out of 381 funds, 5 Year 1 stars out of 330 funds, 10 Year 1 stars out of 252 funds.