THE PIVOT POINT
Power Income Portfolios with Bonds.
Access high income potential and resiliency
CE Webinar: Title TBD | Live: Sept 6, 2024 @ 1PM EDT
Access short-duration bonds with MDHIX that has offered strong levels of income
¹MDHIX yield is represented by SEC 30-Day Yield for MDHIX based on net investment income for the 30-day period ended 06/30/24 divided by the offering price per share on that date. Yields for other share classes will vary. Index yields are represented by yield to worst. Unsubsidized 30-Day Yield (6.24%) reflects what the yield would have been without the effect of waivers and/or reimbursements. Please note that there was no reimbursement for this time period.
Source: Morningstar, as of 06/30/24. Short Duration IG Corporates is represented by ICE BofA 1-5-year U.S. Corporate Index; High Yield is represented by ICE BofA U.S. High Yield Constrained Index; Core Bonds is represented by Bloomberg U.S. Aggregate Bond Index; U.S. IG Corporates is represented by ICE BofA U.S. Corporate Bond Index. Past performance is no guarantee of future results, which will vary. It is not possible to invest directly in an index.
Consider the Funds' investment objectives, risks, charges, and expenses carefully before investing. The prospectus and summary prospectus include this and other information about the Funds and are available by visiting the fund webpage Read the prospectus carefully before investing.
Portfolio Manager Bob DiMella talks about why we believe it’s a compelling time to add muni bonds to portfolios
Tax-exempt income levels are the most attractive in years
Source: Barclays, as of 7/31/24. YTW is Yield to Worst. Muni Index: Bloomberg U.S. Municipal Bond Index. An Investment cannot be made directly into an index. Past performance is not a guarantee of future results. Tax-equivalent yield based on 40.80% tax level (37% highest federal tax bracket plus the 3.8% Medicare surcharge). The taxable equivalent yield of a hypothetical yield is calculated as: hypothetical yield + 1 minus 0.408.
Looking to add the power of bonds to income portfolios?
Investing in short duration bonds involves risks, including the potential for interest rate changes, credit spread fluctuations, and the possibility of losing principal. These bonds are not risk-free and may still experience price volatility. Additionally, municipal bonds may be subject to state and local taxes and the risk of default. All investments carry inherent risks, including the potential loss of principal.
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.
The LSEG Lipper Fund Awards annually recognize funds and companies that consistently deliver strong risk-adjusted performance. Awards are based on the Lipper Leader for Consistent Return rating, a risk-adjusted performance measure calculated over 36, 60, and 120 months. The highest scoring fund in each category wins. The MainStay MacKay Short Duration High Income Fund (MDHIX) won the 2023 U.S. award in its category. The MainStay MacKay Short Duration High Income Fund won the 2023 LSEG Lipper U.S. Award in its category over 10 Years among 11 funds. Visit lipperfundawards.com for more information.