Tax Efficient Strategies Across the Income and Risk Spectrum
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.
MainStay MacKay Tax Free Bond Fund (Class A) rankings in the Lipper General & Insured Municipal Debt Funds category: one-year: #40 out of 286; five-year: #54 out of 218; 10-year: #26 out of 164.
MainStay MacKay Short Term Municipal Fund (Class A) rankings in the Lipper Short Term Municipal Debt Funds category: one-year: #51 out of 142; five-year: #50 out of 106; 10-year: #51 out of 77.
MainStay MacKay California Tax Free Opportunities Fund (Class A) rankings in the Lipper California Municipal Debt Funds category: one-year: #45 out of 121; five-year: #19 out of 95.
MainStay MacKay New York Tax Free Opportunities Fund (Class A) rankings in the Lipper New York Municipal Debt Funds category: one-year: #12 out of 94; five-year: #11 out of 78.
MainStay MacKay Intermediate Tax Free Bond Fund (Class A) rankings in the Lipper Intermediate Municipal Debt Funds Funds category: one-year: #40 out of 286; five-year: #54 out of 218; 10-year: #26 out of 164.
MainStay MacKay U.S. Infrastructure Bond Fund (Class A) rankings in the Lipper General & Insured Municipal Debt Funds category: one-year: #80 out of 286.
As of 12/31/20. Past performance is no guarantee of future results, which may vary.
1. How Barron’s Ranks the Fund Families: To qualify for the Barron’s Fund Survey, a fund family must have at least three funds in Refinitiv Lipper’s general equity category, one in world equity, one mixed-asset fund (such as a balanced or target-date fund), two taxable-bond funds, and one national tax-exempt bond fund. Fund loads and 12b-1 fees aren’t included in the calculation of returns because the aim is to measure the manager’s skill.
Each fund’s return is measured against all funds in its Refinitiv Lipper category, resulting in a percentile ranking of 100 being the highest and one the lowest. This result is then weighted by asset size, relative to the fund family’s other assets in its general classification. If a family’s biggest funds do well, that boosts its overall showing; poor performance in its biggest funds hurts a firm’s ranking. Finally, the score is multiplied by the general classification weightings as determined by the entire Lipper universe of funds.
The category weightings for the one-year results in 2020 were general equity, 35.6%; mixed asset, 20.7%; world equity, 17.3%; taxable bond, 21.9%; and tax-exempt bond, 4.8%. The category weightings for the five-year results in 2020 were general equity, 36.2%; mixed asset, 20.9%; world equity, 16.9%; taxable bond, 21.6%; and tax-exempt bond, 4.4%. For the 10-year list, they were general equity, 37.5%; mixed asset, 19.5%, world equity, 17.3%; taxable bond, 20.8%; and tax-exempt bond, 4.8%. Ranking data is from Lipper.