Municipal Markets, Fall Technicals, and the Election
Bob DiMella, Co-Head and Portfolio Manager with MacKay Municipal Managers, talks about the state of the municipal market heading into the election season and municipal strategies that can build resiliency in portfolios.
IndexIQʼs Sal Brun Spotlights HYLV - IQ High Yield Low Volatility ETF
Sal Bruno joined ETF Prime to discuss how investors can build a smarter core in this near-zero environment with HYLV, an innovative ETF that focuses on credit selection and eliminates the potentially riskiest bonds, while still seeking competitive yield.
The High Yield Market, the Fed and a Shift in Market Characteristics
Eric Gold, Portfolio Manager for MacKay Shields High Yield Team, discusses the state of the high yield market, the impact of recent Fed actions, and opportunities in high yield going forward.
Why Shareholder Yield Today?
Epoch's Executive Chairman and Co-CIO, Bill Priest, discusses the merits of a shareholder yield approach for investors seeking steady income and growth in a volatile world.
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.
Click on the product name for the most recent overall risk-adjusted Morningstar ratings shown above, including ratings by share class and time period and the number of funds in each category. The Fund page also includes the prospectus, investment objectives, performance, risk and other important information.
Morningstar ratings as of 3/31/21. MainStay MacKay Short Duration High Yield Fund Morningstar Risk-Adjusted Ratings: US Fund High Yield Bond Category - Class A Shares Overall Rating 2 stars out of 630 funds, 3 Year 2 stars out of 630 funds, 5 Year 2 stars out of 556 funds, 10 Year 2 stars out of 358 funds. MainStay MacKay Short Term Municipal Fund Morningstar Risk-Adjusted Ratings: US Fund Muni National Short Category - Class A Shares Overall Rating 2 stars out of 201 funds, 3 Year 3 stars out of 201 funds, 5 Year 2 stars out of 178 funds, 10 Year 2 stars out of 138 funds. MainStay Epoch Capital Growth Fund Morningstar Risk-Adjusted Ratings: US Fund World Large Stock - Class A Shares Overall Rating 4 stars out of 762 funds, 3 Year 4 stars out of 762 funds. MainStay Income Builder Fund Morningstar Risk-Adjusted Ratings: US Fund World Allocation Category - Class A Shares Overall Rating 4 stars out of 400 funds, 3 Year 4 stars out of 400 funds, 5 Year 3 stars out of 351 funds, 10 Year 5 stars out of 224 funds. IQ S&P High Yield Low Volatility Bond ETF Morningstar Risk-Adjusted Ratings: US Fund High Yield Bond Category - Class Shares Overall Rating 3 stars out of 630 funds, 3 Year 3 stars out of 630 funds. IQ MacKay Municipal Insured ETF Morningstar Risk-Adjusted Ratings: US Fund Muni National Interm Category - Overall Rating 5 stars out of 249 funds, 3 Year 5 stars out of 249 funds. IQ 50 Percent Hedged FTSE International ETF Morningstar Risk-Adjusted Ratings: US Fund Foreign Large Blend Category - Class Shares Overall Rating 4 stars out of 654 funds, 3 Year 4 stars out of 654 funds, 5 Year 4 stars out of 563 funds.