UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
Form N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES
Investment Company Act File Number 811-22321
MAINSTAY FUNDS TRUST
(Exact name of Registrant as specified in charter)
51 Madison Avenue, New York, NY 10010
(Address of principal executive offices) (Zip code)
J. Kevin Gao, Esq.
30 Hudson Street
Jersey City, New Jersey 07302
(Name and address of agent for service)
Registrant’s telephone number, including area code: (212) 576-7000
Date of fiscal year end: April 30
(MainStay CBRE Global Infrastructure Fund, MainStay CBRE Real Estate Fund, MainStay Conservative ETF Allocation Fund, MainStay Defensive ETF Allocation Fund, MainStay Equity ETF Allocation Fund, MainStay Growth ETF Allocation Fund, MainStay Moderate ETF Allocation Fund, MainStay ESG Multi-Asset Allocation Fund, MainStay MacKay Strategic Municipal Allocation Fund and MainStay MacKay Short Term Municipal Fund)
Date of reporting period: April 30, 2022
FORM N-CSR
The information presented in this Form N-CSR relates solely to the MainStay CBRE Global Infrastructure Fund, MainStay CBRE Real Estate Fund, MainStay Conservative ETF Allocation Fund, MainStay Defensive ETF Allocation Fund, MainStay Equity ETF Allocation Fund, MainStay Growth ETF Allocation Fund, MainStay Moderate ETF Allocation Fund, MainStay ESG Multi-Asset Allocation Fund, and MainStay MacKay Strategic Municipal Allocation Fund, each a series of the Registrant.
Item 1. Reports to Stockholders.
Message from the President and Annual Report
please log in to newyorklifeinvestments.com/accounts.
Not FDIC/NCUA Insured | Not a Deposit | May Lose Value | No Bank Guarantee | Not Insured by Any Government Agency |
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Investors should refer to the Fund’s Summary Prospectus and/or Prospectus and consider the Fund’s investment objectives, strategies, risks, charges and expenses carefully before investing. The Summary Prospectus and/or Prospectus contain this and other information about the Fund. You may obtain copies of the Fund’s Summary Prospectus, Prospectus and Statement of Additional Information, which includes information about MainStay Funds Trust's Trustees, free of charge, upon request, by calling toll-free 800-624-6782, by writing to NYLIFE Distributors LLC, Attn: MainStay Marketing Department, 30 Hudson Street, Jersey City, NJ 07302 or by sending an e-mail to MainStayShareholderServices@nylim.com. These documents are also available via the MainStay Funds’ website at newyorklifeinvestments.com. Please read the Fund’s Summary Prospectus and/or Prospectus carefully before investing.
Average Annual Total Returns for the Year-Ended April 30, 2022 | |||||||
Class | Sales Charge | Inception Date1 | One Year | Five Years | Since Inception | Gross Expense Ratio2 | |
Class A Shares3 | Maximum 5.5% Initial Sales Charge | With sales charges | 10/16/2013 | -1.81% | 6.93% | 7.80% | 1.35% |
Excluding sales charges | 3.91 | 8.21 | 8.55 | 1.35 | |||
Investor Class Shares4 | Maximum 5% Initial Sales Charge | With sales charges | 2/24/2020 | -1.35 | N/A | 0.96 | 1.76 |
Excluding sales charges | 3.85 | N/A | 3.61 | 1.76 | |||
Class C Shares3 | Maximum 1% CDSC | With sales charges | 2/28/2019 | 2.11 | N/A | 7.90 | 2.51 |
if Redeemed Within One Year of Purchase | Excluding sales charges | 3.11 | N/A | 7.90 | 2.51 | ||
Class I Shares3 | No Sales Charge | 6/28/2013 | 4.19 | 8.50 | 9.46 | 1.10 | |
Class R6 Shares | No Sales Charge | 2/24/2020 | 4.23 | N/A | 4.03 | 1.02 |
1. | Effective at the close of business on February 21, 2020, the Fund changed its fiscal and tax year end from October 31 to April 30. |
2. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
3. | Performance figures for Class A shares, Class C shares and Class I shares reflect the historical performance of the then-existing Class A shares, Class C shares and Class I shares, respectively, of the Voya CBRE Global Infrastructure Fund (the predecessor to the Fund, which was subject to a different fee structure) for periods prior to February 21, 2020. The MainStay CBRE Global Infrastructure Fund commenced operations on February 24, 2020. |
4. | Prior to June 30, 2020, the maximum initial sales charge was 5.5%, which is reflected in the applicable average annual total return figures shown. |
Benchmark Performance* | One Year | Five Years | Since Inception |
FTSE Global Core Infrastructure 50/50 Index (Net)1 | 6.62% | 7.37% | 7.89% |
Morningstar Infrastructure Category Average2 | 3.29 | 6.90 | 7.36 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | The FTSE Global Core Infrastructure 50/50 Index (Net) is the Fund’s primary broad-based securities market index for comparison purposes. The FTSE Global Core Infrastructure 50/50 Index (Net) gives participants an industry-defined interpretation of infrastructure and adjusts the exposure to certain infrastructure sub-sectors. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
2. | The Morningstar Infrastructure Category Average is representative of funds that invest more than 60% of their assets in stocks of companies engaged in infrastructure activities. Industries considered to be part of the infrastructure sector include: oil & gas midstream; waste management; airports; integrated shipping; railroads; shipping & ports; trucking; engineering & construction; infrastructure operations; and the utilities sector. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
6 | MainStay CBRE Global Infrastructure Fund |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $1,004.10 | $6.21 | $1,018.60 | $6.26 | 1.25% |
Investor Class Shares | $1,000.00 | $1,004.50 | $5.81 | $1,018.99 | $5.86 | 1.17% |
Class C Shares | $1,000.00 | $999.60 | $10.11 | $1,014.68 | $10.19 | 2.04% |
Class I Shares | $1,000.00 | $1,004.60 | $4.82 | $1,019.98 | $4.86 | 0.97% |
Class R6 Shares | $1,000.00 | $1,005.60 | $4.53 | $1,020.28 | $4.56 | 0.91% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the six-month period). The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
Country Composition as of April 30, 2022 (Unaudited)
United States | 59.0% |
Australia | 9.9 |
France | 6.7 |
Spain | 6.2 |
Canada | 4.9 |
Italy | 4.6 |
United Kingdom | 2.8 |
Portugal | 2.3 |
Japan | 1.4% |
China | 1.2 |
New Zealand | 0.9 |
Germany | 0.8 |
Mexico | 0.1 |
Other Assets, Less Liabilities | –0.8 |
100.0% |
Top Ten Holdings and/or Issuers Held as of April 30, 2022 (excluding short-term investments) (Unaudited)
1. | American Electric Power Co., Inc. |
2. | Transurban Group |
3. | Union Pacific Corp. |
4. | Cheniere Energy, Inc. |
5. | Cellnex Telecom SA |
6. | NextEra Energy, Inc. |
7. | Crown Castle International Corp. |
8. | WEC Energy Group, Inc. |
9. | Atlas Arteria Ltd. |
10. | Ameren Corp. |
8 | MainStay CBRE Global Infrastructure Fund |
10 | MainStay CBRE Global Infrastructure Fund |
Shares | Value | |
Common Stocks 97.3% | ||
Australia 9.9% | ||
Atlas Arteria Ltd. (Transportation) | 11,356,029 | $ 55,078,256 |
Aurizon Holdings Ltd. (Transportation) | 5,600,071 | 15,878,587 |
NEXTDC Ltd. (Communications) (a) | 2,476,020 | 19,214,421 |
Transurban Group (Transportation) | 7,336,423 | 73,336,275 |
163,507,539 | ||
Canada 4.9% | ||
Canadian National Railway Co. (Transportation) | 321,309 | 37,787,229 |
Enbridge, Inc. (Midstream / Pipelines) | 410,000 | 17,891,722 |
Pembina Pipeline Corp. (Midstream / Pipelines) | 668,500 | 25,295,438 |
80,974,389 | ||
China 1.2% | ||
Guangdong Investment Ltd. (Utilities) | 15,952,253 | 20,432,429 |
France 6.7% | ||
Eiffage SA (Transportation) | 376,437 | 36,927,144 |
Engie SA (Utilities) | 2,110,816 | 24,795,365 |
Vinci SA (Transportation) | 514,646 | 49,655,201 |
111,377,710 | ||
Germany 0.8% | ||
Fraport AG Frankfurt Airport Services Worldwide (Transportation) (a) | 243,363 | 13,157,350 |
Italy 4.6% | ||
Enel SpA (Utilities) | 6,101,541 | 39,434,635 |
Infrastrutture Wireless Italiane SpA (Communications) | 1,845,667 | 19,664,176 |
Terna - Rete Elettrica Nazionale (Utilities) | 2,019,653 | 16,450,725 |
75,549,536 | ||
Japan 1.4% | ||
Central Japan Railway Co. (Transportation) | 75,909 | 9,577,289 |
West Japan Railway Co. (Transportation) | 359,300 | 13,377,164 |
22,954,453 | ||
Mexico 0.1% | ||
Promotora y Operadora de Infraestructura SAB de CV (Transportation) | 223,088 | 1,626,274 |
Shares | Value | |
New Zealand 0.9% | ||
Infratil Ltd. (Diversified) | 2,738,650 | $ 14,762,371 |
Portugal 2.3% | ||
EDP - Energias de Portugal SA (Utilities) | 8,105,130 | 37,734,967 |
Spain 6.2% | ||
Aena SME SA (Transportation) (a) | 168,980 | 23,883,404 |
Cellnex Telecom SA (Communications) | 1,386,766 | 64,820,980 |
Ferrovial SA (Transportation) | 562,843 | 14,370,127 |
103,074,511 | ||
United Kingdom 2.8% | ||
National Grid plc (Utilities) | 3,061,333 | 45,516,412 |
United States 55.5% | ||
AES Corp. (The) (Utilities) | 2,298,361 | 46,932,532 |
Ameren Corp. (Utilities) | 549,500 | 51,048,550 |
American Electric Power Co., Inc. (Utilities) | 763,856 | 75,705,768 |
American Tower Corp. (Communications) | 163,398 | 39,382,186 |
Cheniere Energy, Inc. (Midstream / Pipelines) | 487,637 | 66,225,981 |
CMS Energy Corp. (Utilities) | 607,910 | 41,757,338 |
Constellation Energy Corp. (Utilities) | 267,179 | 15,819,668 |
Crown Castle International Corp. (Communications) | 311,246 | 57,645,872 |
Dominion Energy, Inc. (Utilities) | 561,300 | 45,824,532 |
Exelon Corp. (Utilities) | 578,977 | 27,084,544 |
FirstEnergy Corp. (Utilities) | 588,400 | 25,483,604 |
Legacy Reserves, Inc. (Midstream / Pipelines) (a)(b)(c)(d) | 5,055 | 32,959 |
Legacy Reserves, Inc. (Midstream / Pipelines) (a)(b)(c)(d) | 27,942 | 182,182 |
NextEra Energy, Inc. (Utilities) | 891,080 | 63,284,501 |
NiSource, Inc. (Utilities) | 637,600 | 18,566,912 |
Norfolk Southern Corp. (Transportation) | 148,156 | 38,206,469 |
OGE Energy Corp. (Utilities) | 419,700 | 16,233,996 |
ONEOK, Inc. (Midstream / Pipelines) | 255,800 | 16,199,814 |
PPL Corp. (Utilities) | 372,200 | 10,536,982 |
Public Service Enterprise Group, Inc. (Utilities) | 497,700 | 34,669,782 |
Sempra Energy (Utilities) | 192,800 | 31,110,208 |
Southwest Gas Holdings, Inc. (Utilities) | 72,500 | 6,387,975 |
Targa Resources Corp. (Midstream / Pipelines) | 408,300 | 29,973,303 |
Union Pacific Corp. (Transportation) | 283,090 | 66,325,156 |
Shares | Value | |
Common Stocks (continued) | ||
United States (continued) | ||
WEC Energy Group, Inc. (Utilities) | 551,200 | $ 55,147,560 |
Williams Cos., Inc. (The) (Midstream / Pipelines) | 1,104,300 | 37,866,447 |
917,634,821 | ||
Total Common Stocks (Cost $1,558,487,493) | 1,608,302,762 | |
Short-Term Investment 3.5% | ||
Affiliated Investment Company 3.5% | ||
United States 3.5% | ||
MainStay U.S. Government Liquidity Fund, 0.397% (e) | 57,455,344 | 57,455,344 |
Total Short-Term Investment (Cost $57,455,344) | 57,455,344 | |
Total Investments (Cost $1,615,942,837) | 100.8% | 1,665,758,106 |
Other Assets, Less Liabilities | (0.8) | (12,405,391) |
Net Assets | 100.0% | $ 1,653,352,715 |
† | Percentages indicated are based on Fund net assets. |
(a) | Non-income producing security. |
(b) | Fair valued security—Represents fair value as measured in good faith under procedures approved by the Board of Trustees. As of April 30, 2022, the total market value was $215,141, which represented less than one-tenth of a percent of the Fund’s net assets. |
(c) | Illiquid security—As of April 30, 2022, the total market value deemed illiquid under procedures approved by the Board of Trustees was $215,141, which represented less than one-tenth of a percent of the Fund’s net assets.(Unaudited) |
(d) | Security in which significant unobservable inputs (Level 3) were used in determining fair value. |
(e) | Current yield as of April 30, 2022. |
Affiliated Investment Companies | Value, Beginning of Year | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Year | Dividend Income | Other Distributions | Shares End of Year |
MainStay U.S. Government Liquidity Fund | $ 8,398 | $ 474,061 | $ (425,004) | $ — | $ — | $ 57,455 | $ 6 | $ — | 57,455 |
12 | MainStay CBRE Global Infrastructure Fund |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Common Stocks | ||||
Australia | $ — | $ 163,507,539 | $ — | $ 163,507,539 |
China | — | 20,432,429 | — | 20,432,429 |
France | — | 111,377,710 | — | 111,377,710 |
Germany | — | 13,157,350 | — | 13,157,350 |
Italy | — | 75,549,536 | — | 75,549,536 |
Japan | — | 22,954,453 | — | 22,954,453 |
New Zealand | — | 14,762,371 | — | 14,762,371 |
Portugal | — | 37,734,967 | — | 37,734,967 |
Spain | — | 103,074,511 | — | 103,074,511 |
United Kingdom | — | 45,516,412 | — | 45,516,412 |
All Other Countries | 1,000,020,343 | — | 215,141 | 1,000,235,484 |
Total Common Stocks | 1,000,020,343 | 608,067,278 | 215,141 | 1,608,302,762 |
Short-Term Investment | ||||
Affiliated Investment Company | 57,455,344 | — | — | 57,455,344 |
Total Investments in Securities | $ 1,057,475,687 | $ 608,067,278 | $ 215,141 | $ 1,665,758,106 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
Value | Percent† | |
Utilities | $749,958,985 | 45.4% |
Transportation | 449,185,925 | 27.1 |
Communications | 200,727,635 | 12.2 |
Midstream / Pipelines | 193,667,846 | 11.7 |
Diversified | 14,762,371 | 0.9 |
1,608,302,762 | 97.3 | |
Short-Term Investment | 57,455,344 | 3.5 |
Other Assets, Less Liabilities | (12,405,391) | (0.8) |
Net Assets | $1,653,352,715 | 100.0% |
† | Percentages indicated are based on Portfolio net assets. |
Assets | |
Investment in unaffiliated securities, at value (identified cost $1,558,487,493) | $1,608,302,762 |
Investment in affiliated investment companies, at value (identified cost $57,455,344) | 57,455,344 |
Cash denominated in foreign currencies (identified cost $1,026,995) | 1,027,083 |
Receivables: | |
Fund shares sold | 18,681,545 |
Investment securities sold | 1,973,540 |
Dividends | 1,912,174 |
Securities lending | 2,380 |
Other assets | 61,768 |
Total assets | 1,689,416,596 |
Liabilities | |
Payables: | |
Investment securities purchased | 33,412,108 |
Manager (See Note 3) | 1,076,410 |
Fund shares redeemed | 676,318 |
Dividend payable | 554,382 |
Transfer agent (See Note 3) | 173,360 |
Professional fees | 52,637 |
NYLIFE Distributors (See Note 3) | 39,619 |
Custodian | 38,488 |
Shareholder communication | 16,859 |
Trustees | 580 |
Accrued expenses | 23,120 |
Total liabilities | 36,063,881 |
Net assets | $1,653,352,715 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $125,989 |
Additional paid-in-capital | 1,796,521,991 |
1,796,647,980 | |
Total distributable earnings (loss) | (143,295,265) |
Net assets | $1,653,352,715 |
Class A | |
Net assets applicable to outstanding shares | $88,714,901 |
Shares of beneficial interest outstanding | 6,765,396 |
Net asset value per share outstanding | $13.11 |
Maximum sales charge (5.50% of offering price) | 0.76 |
Maximum offering price per share outstanding | $13.87 |
Investor Class | |
Net assets applicable to outstanding shares | $2,429,632 |
Shares of beneficial interest outstanding | 185,299 |
Net asset value per share outstanding | $13.11 |
Maximum sales charge (5.00% of offering price) | 0.69 |
Maximum offering price per share outstanding | $13.80 |
Class C | |
Net assets applicable to outstanding shares | $24,119,460 |
Shares of beneficial interest outstanding | 1,849,429 |
Net asset value and offering price per share outstanding | $13.04 |
Class I | |
Net assets applicable to outstanding shares | $1,527,547,662 |
Shares of beneficial interest outstanding | 116,385,813 |
Net asset value and offering price per share outstanding | $13.12 |
Class R6 | |
Net assets applicable to outstanding shares | $10,541,060 |
Shares of beneficial interest outstanding | 803,255 |
Net asset value and offering price per share outstanding | $13.12 |
14 | MainStay CBRE Global Infrastructure Fund |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated (net of foreign tax withholding of $1,928,535) | $27,745,447 |
Securities lending | 36,650 |
Dividends-affiliated | 6,196 |
Other | 929 |
Total income | 27,789,222 |
Expenses | |
Manager (See Note 3) | 7,733,788 |
Transfer agent (See Note 3) | 859,717 |
Distribution/Service—Class A (See Note 3) | 172,713 |
Distribution/Service—Investor Class (See Note 3) | 5,425 |
Distribution/Service—Class C (See Note 3) | 193,636 |
Registration | 216,390 |
Professional fees | 151,288 |
Custodian | 99,206 |
Shareholder communication | 63,254 |
Trustees | 20,424 |
Miscellaneous | 46,232 |
Total expenses before waiver/reimbursement | 9,562,073 |
Expense waiver/reimbursement from Manager (See Note 3) | (322,113) |
Net expenses | 9,239,960 |
Net investment income (loss) | 18,549,262 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on: | |
Unaffiliated investment transactions | 21,759,315 |
Foreign currency transactions | (274,147) |
Net realized gain (loss) | 21,485,168 |
Net change in unrealized appreciation (depreciation) on: | |
Unaffiliated investments | (13,998,284) |
Translation of other assets and liabilities in foreign currencies | (51,612) |
Net change in unrealized appreciation (depreciation) | (14,049,896) |
Net realized and unrealized gain (loss) | 7,435,272 |
Net increase (decrease) in net assets resulting from operations | $25,984,534 |
for the years ended April 30, 2022 and April 30, 2021
2022 | 2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $18,549,262 | $5,163,794 |
Net realized gain (loss) | 21,485,168 | 5,351,869 |
Net change in unrealized appreciation (depreciation) | (14,049,896) | 64,720,557 |
Net increase (decrease) in net assets resulting from operations | 25,984,534 | 75,236,220 |
Distributions to shareholders: | ||
Class A | (996,517) | (416,571) |
Investor Class | (29,596) | (24,647) |
Class C | (143,440) | (63,792) |
Class I | (13,609,224) | (4,126,661) |
Class R6 | (38,065) | (2,375) |
Total distributions to shareholders | (14,816,842) | (4,634,046) |
Capital share transactions: | ||
Net proceeds from sales of shares | 1,274,898,463 | 295,291,961 |
Net asset value of shares issued in connection with the acquisition of MainStay Cushing Energy Income Fund | — | 13,886,106 |
Net asset value of shares issued in connection with the acquisition of MainStay Cushing Renaissance Advantage Fund | — | 13,689,513 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 13,281,784 | 4,465,820 |
Cost of shares redeemed | (170,967,771) | (93,610,084) |
Increase (decrease) in net assets derived from capital share transactions | 1,117,212,476 | 233,723,316 |
Net increase (decrease) in net assets | 1,128,380,168 | 304,325,490 |
Net Assets | ||
Beginning of year | 524,972,547 | 220,647,057 |
End of year | $1,653,352,715 | $524,972,547 |
16 | MainStay CBRE Global Infrastructure Fund |
Year Ended April 30, | November 1, 2019 through April 30, | Year Ended October 31, | ||||
Class A | 2022 | 2021 | 2020# | 2019 | 2018 | 2017 |
Net asset value at beginning of period | $12.81 | $10.39 | $11.99 | $10.04 | $11.40 | $10.78 |
Net investment income (loss) | 0.23(a) | 0.16(a) | 0.07(a) | 0.16 | 0.19 | 0.17(a) |
Net realized and unrealized gain (loss) | 0.26 | 2.42 | (1.30) | 2.12 | (0.51) | 1.30 |
Total from investment operations | 0.49 | 2.58 | (1.23) | 2.28 | (0.32) | 1.47 |
Less distributions: | ||||||
From net investment income | (0.19) | (0.16) | (0.06) | (0.17) | (0.25) | (0.12) |
From net realized gain on investments | — | — | (0.29) | (0.16) | (0.79) | (0.73) |
Return of capital | — | — | (0.02) | — | — | — |
Total distributions | (0.19) | (0.16) | (0.37) | (0.33) | (1.04) | (0.85) |
Net asset value at end of period | $13.11 | $12.81 | $10.39 | $11.99 | $10.04 | $11.40 |
Total investment return (b) | 3.91% | 25.04% | (10.57)% | 23.24% | (3.16)% | 14.96% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.75% | 1.35% | 1.32%†† | 1.51% | 1.89% | 1.59% |
Net expenses | 1.26%(c) | 1.29%(c) | 1.32%†† (c)(d) | 1.35% | 1.35% | 1.53% |
Expenses (before waiver/reimbursement) | 1.26%(c) | 1.35%(c) | 1.54%†† (c)(d) | 1.56% | 1.83% | 2.36% |
Portfolio turnover rate | 32% | 51% | 49% | 53% | 61% | 85% |
Net assets at end of period (in 000's) | $88,715 | $45,642 | $11,237 | $11,700 | $1,787 | $1,146 |
# | The Fund changed its fiscal year end from October 31 to April 30. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | Net of interest expense of less than 0.01%. |
Year Ended April 30, | February 24, 2020^ through April 30, | ||
Investor Class | 2022 | 2021 | 2020 |
Net asset value at beginning of period | $12.80 | $10.38 | $12.50 |
Net investment income (loss) (a) | 0.23 | 0.13 | (0.00)‡ |
Net realized and unrealized gain (loss) | 0.26 | 2.43 | (2.08) |
Total from investment operations | 0.49 | 2.56 | (2.08) |
Less distributions: | |||
From net investment income | (0.18) | (0.14) | (0.03) |
Return of capital | — | — | (0.01) |
Total distributions | (0.18) | (0.14) | (0.04) |
Net asset value at end of period | $13.11 | $12.80 | $10.38 |
Total investment return (b) | 3.85% | 24.87% | (16.66)% |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 1.77% | 1.11% | (0.12)%†† |
Net expenses (c) | 1.31% | 1.45% | 1.45%†† |
Expenses (before waiver/reimbursement) (c) | 1.31% | 1.76% | 1.67%†† |
Portfolio turnover rate | 32% | 51% | 49% |
Net assets at end of period (in 000's) | $2,430 | $2,159 | $106 |
^ | Inception date. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
18 | MainStay CBRE Global Infrastructure Fund |
Year Ended April 30, | November 1, 2019 through April 30, 2020# | February 28, 2019^ through October 31, | ||
Class C | 2022 | 2021 | 2019 | |
Net asset value at beginning of period | $12.75 | $10.37 | $11.96 | $10.82 |
Net investment income (loss) (a) | 0.12 | 0.06 | 0.03 | 0.04 |
Net realized and unrealized gain (loss) | 0.27 | 2.42 | (1.29) | 1.22 |
Total from investment operations | 0.39 | 2.48 | (1.26) | 1.26 |
Less distributions: | ||||
From net investment income | (0.10) | (0.10) | (0.03) | (0.12) |
From net realized gain on investments | — | — | (0.29) | — |
Return of capital | — | — | (0.01) | — |
Total distributions | (0.10) | (0.10) | (0.33) | (0.12) |
Net asset value at end of period | $13.04 | $12.75 | $10.37 | $11.96 |
Total investment return (b) | 3.11% | 24.04% | (10.89)% | 11.67% |
Ratios (to average net assets)/Supplemental Data: | ||||
Net investment income (loss) | 0.89% | 0.52% | 0.58%†† | 0.46%†† |
Net expenses | 2.06%(c) | 2.08%(c) | 2.09%†† (c)(d) | 2.10%†† |
Expenses (before waiver/reimbursement) | 2.06%(c) | 2.51%(c) | 2.36%†† (c)(d) | 2.31%†† |
Portfolio turnover rate | 32% | 51% | 49% | 53% |
Net assets at end of period (in 000’s) | $24,119 | $11,522 | $992 | $1,048 |
# | The Fund changed its fiscal year end from October 31 to April 30. |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | Net of interest expense of less than 0.01%. |
Year Ended April 30, | November 1, 2019 through April 30, 2020# | Year Ended October 31, | ||||
Class I | 2022 | 2021 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $12.82 | $10.39 | $11.99 | $10.04 | $11.40 | $10.78 |
Net investment income (loss) | 0.27(a) | 0.21(a) | 0.09(a) | 0.20 | 0.23 | 0.20 |
Net realized and unrealized gain (loss) | 0.26 | 2.41 | (1.30) | 2.11 | (0.52) | 1.30 |
Total from investment operations | 0.53 | 2.62 | (1.21) | 2.31 | (0.29) | 1.50 |
Less distributions: | ||||||
From net investment income | (0.23) | (0.19) | (0.08) | (0.20) | (0.28) | (0.15) |
From net realized gain on investments | — | — | (0.29) | (0.16) | (0.79) | (0.73) |
Return of capital | — | — | (0.02) | — | — | — |
Total distributions | (0.23) | (0.19) | (0.39) | (0.36) | (1.07) | (0.88) |
Net asset value at end of period | $13.12 | $12.82 | $10.39 | $11.99 | $10.04 | $11.40 |
Total investment return (b) | 4.19% | 25.46% | (10.46)% | 23.52% | (2.88)% | 15.25% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 2.09% | 1.78% | 1.59%†† | 1.83% | 2.14% | 1.83% |
Net expenses | 0.97%(c) | 0.97%(c) | 1.05%†† (c)(d) | 1.10% | 1.10% | 1.21% |
Expenses (before waiver/reimbursement) | 1.01%(c) | 1.10%(c) | 1.18%†† (c)(d) | 1.14% | 1.41% | 1.61% |
Portfolio turnover rate | 32% | 51% | 49% | 53% | 61% | 85% |
Net assets at end of period (in 000's) | $1,527,548 | $465,299 | $208,291 | $225,176 | $71,919 | $36,755 |
# | The Fund changed its fiscal year end from October 31 to April 30. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class I shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | Net of interest expense of less than 0.01%. |
20 | MainStay CBRE Global Infrastructure Fund |
Year Ended April 30, | February 24, 2020^ through April 30, | ||
Class R6 | 2022 | 2021 | 2020 |
Net asset value at beginning of period | $12.82 | $10.39 | $12.51 |
Net investment income (loss) (a) | 0.35 | 0.17 | 0.02 |
Net realized and unrealized gain (loss) | 0.19 | 2.45 | (2.11) |
Total from investment operations | 0.54 | 2.62 | (2.09) |
Less distributions: | |||
From net investment income | (0.24) | (0.19) | (0.02) |
Return of capital | — | — | (0.01) |
Total distributions | (0.24) | (0.19) | (0.03) |
Net asset value at end of period | $13.12 | $12.82 | $10.39 |
Total investment return (b) | 4.23% | 25.50% | (16.65)% |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 2.63% | 1.47% | 0.85%†† |
Net expenses (c) | 0.91% | 0.95% | 0.95%†† |
Expenses (before waiver/reimbursement) (c) | 0.91% | 1.02% | 1.13%†† |
Portfolio turnover rate | 32% | 51% | 49% |
Net assets at end of period (in 000's) | $10,541 | $350 | $21 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R6 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Class | Commenced Operations |
Class A | October 16, 2013 |
Investor Class | February 24, 2020 |
Class C | February 28, 2019 |
Class I | June 28, 2013 |
Class R6 | February 24, 2020 |
SIMPLE Class | N/A* |
* | SIMPLE Class shares were registered for sale effective as of August 31, 2020 but have not yet commenced operations. |
22 | MainStay CBRE Global Infrastructure Fund |
• Broker/dealer quotes | • Benchmark securities |
• Two-sided markets | • Reference data (corporate actions or material event notices) |
• Bids/offers | • Monthly payment information |
• Industry and economic events | • Reported trades |
24 | MainStay CBRE Global Infrastructure Fund |
26 | MainStay CBRE Global Infrastructure Fund |
Class | Expense | Waived |
Class A | $63,520 | $— |
Investor Class | 3,043 | — |
Class C | 26,867 | — |
Class I | 766,203 | — |
Class R6 | 84 | — |
Class R6 | $27,261 | 0.3% |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $1,622,203,294 | $92,870,007 | $(49,315,195) | $43,554,812 |
Ordinary income | Accumulated Capital and Other Gain (Loss) | Other Temporary Differences | Unrealized Appreciation (Depreciation) | Total Accumulated Gain (Loss) |
$10,259,251 | $(197,062,026) | $(5,344) | $43,512,854 | $(143,295,265) |
Capital Loss Available Through | Short-Term Capital Loss Amounts (000’s) | Long-Term Capital Loss Amounts (000’s) |
Unlimited | $119,451 | $91,131 |
2022 | 2021 | |
Distributions paid from: | ||
Ordinary Income | $14,816,842 | $4,634,046 |
Class A | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 4,411,145 | $57,605,328 |
Shares issued to shareholders in reinvestment of distributions | 75,944 | 975,716 |
Shares redeemed | (1,226,961) | (16,049,703) |
Net increase (decrease) in shares outstanding before conversion | 3,260,128 | 42,531,341 |
Shares converted into Class A (See Note 1) | 21,293 | 278,101 |
Shares converted from Class A (See Note 1) | (78,805) | (1,050,609) |
Net increase (decrease) | 3,202,616 | $41,758,833 |
Year ended April 30, 2021: | ||
Shares sold | 1,872,393 | $21,788,474 |
Shares issued in connection with the acquisition of MainStay Cushing Energy Income Fund | 601,016 | 6,193,827 |
Shares issued in connection with the acquisition of MainStay Cushing Renaissance Advantage Fund | 528,902 | 5,450,653 |
Shares issued to shareholders in reinvestment of distributions | 36,412 | 410,877 |
Shares redeemed | (589,938) | (6,735,881) |
Net increase (decrease) in shares outstanding before conversion | 2,448,785 | 27,107,950 |
Shares converted into Class A (See Note 1) | 32,197 | 366,724 |
Net increase (decrease) | 2,480,982 | $27,474,674 |
28 | MainStay CBRE Global Infrastructure Fund |
Investor Class | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 50,651 | $678,517 |
Shares issued to shareholders in reinvestment of distributions | 2,248 | 28,825 |
Shares redeemed | (22,119) | (288,283) |
Net increase (decrease) in shares outstanding before conversion | 30,780 | 419,059 |
Shares converted into Investor Class (See Note 1) | 3,078 | 40,150 |
Shares converted from Investor Class (See Note 1) | (17,270) | (225,640) |
Net increase (decrease) | 16,588 | $233,569 |
Year ended April 30, 2021: | ||
Shares sold | 22,331 | $261,551 |
Shares issued in connection with the acquisition of MainStay Cushing Energy Income Fund | 91,365 | 940,483 |
Shares issued in connection with the acquisition of MainStay Cushing Renaissance Advantage Fund | 92,315 | 950,261 |
Shares issued to shareholders in reinvestment of distributions | 2,156 | 24,023 |
Shares redeemed | (34,598) | (397,716) |
Net increase (decrease) in shares outstanding before conversion | 173,569 | 1,778,602 |
Shares converted into Investor Class (See Note 1) | 2,904 | 34,998 |
Shares converted from Investor Class (See Note 1) | (17,954) | (204,846) |
Net increase (decrease) | 158,519 | $1,608,754 |
Class C | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 1,163,935 | $15,167,647 |
Shares issued to shareholders in reinvestment of distributions | 11,316 | 142,471 |
Shares redeemed | (222,223) | (2,883,848) |
Net increase (decrease) in shares outstanding before conversion | 953,028 | 12,426,270 |
Shares converted from Class C (See Note 1) | (7,157) | (92,611) |
Net increase (decrease) | 945,871 | $12,333,659 |
Year ended April 30, 2021: | ||
Shares sold | 525,639 | $6,194,222 |
Shares issued in connection with the acquisition of MainStay Cushing Energy Income Fund | 307,263 | 3,159,121 |
Shares issued in connection with the acquisition of MainStay Cushing Renaissance Advantage Fund | 269,210 | 2,767,878 |
Shares issued to shareholders in reinvestment of distributions | 5,659 | 61,815 |
Shares redeemed | (282,657) | (3,227,807) |
Net increase (decrease) in shares outstanding before conversion | 825,114 | 8,955,229 |
Shares converted from Class C (See Note 1) | (17,245) | (196,876) |
Net increase (decrease) | 807,869 | $8,758,353 |
Class I | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 90,600,814 | $1,191,344,996 |
Shares issued to shareholders in reinvestment of distributions | 936,782 | 12,096,707 |
Shares redeemed | (11,518,740) | (151,517,719) |
Net increase (decrease) in shares outstanding before conversion | 80,018,856 | 1,051,923,984 |
Shares converted into Class I (See Note 1) | 78,742 | 1,050,609 |
Net increase (decrease) | 80,097,598 | $1,052,974,593 |
Year ended April 30, 2021: | ||
Shares sold | 22,477,048 | $266,718,394 |
Shares issued in connection with the acquisition of MainStay Cushing Energy Income Fund | 348,425 | 3,592,675 |
Shares issued in connection with the acquisition of MainStay Cushing Renaissance Advantage Fund | 438,428 | 4,520,721 |
Shares issued to shareholders in reinvestment of distributions | 349,236 | 3,966,730 |
Shares redeemed | (7,370,273) | (83,206,710) |
Net increase (decrease) | 16,242,864 | $195,591,810 |
Class R6 | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 790,403 | $10,101,975 |
Shares issued to shareholders in reinvestment of distributions | 2,801 | 38,065 |
Shares redeemed | (17,275) | (228,218) |
Net increase (decrease) | 775,929 | $9,911,822 |
Year ended April 30, 2021: | ||
Shares sold | 28,666 | $329,320 |
Shares issued to shareholders in reinvestment of distributions | 202 | 2,375 |
Shares redeemed | (3,548) | (41,970) |
Net increase (decrease) | 25,320 | $289,725 |
30 | MainStay CBRE Global Infrastructure Fund |
MainStay Funds Trust:
June 27, 2022
32 | MainStay CBRE Global Infrastructure Fund |
34 | MainStay CBRE Global Infrastructure Fund |
36 | MainStay CBRE Global Infrastructure Fund |
38 | MainStay CBRE Global Infrastructure Fund |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
Yie-Hsin Hung* 1962 | MainStay Funds: Trustee since 2017; MainStay Funds Trust: Trustee since 2017 | Senior Vice President of New York Life since joining in 2010, Member of the Executive Management Committee since 2017, Chief Executive Officer, New York Life Investment Management Holdings LLC & New York Life Investment Management LLC since 2015. Senior Managing Director and Co-President of New York Life Investment Management LLC from January 2014 to May 2015. Previously held positions of increasing responsibility, including head of NYLIM International, Alternative Growth Businesses, and Institutional investments since joining New York Life in 2010 | 78 | MainStay VP Funds Trust: Trustee since 2017 (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2017; MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since March 2021; and Turtle Beach Corporation: Director since April 2021 |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
David H. Chow 1957 | MainStay Funds: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); MainStay Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) | Founder and CEO, DanCourt Management, LLC since 1999 | 78 | MainStay VP Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021; VanEck Vectors Group of Exchange-Traded Funds: Independent Chairman of the Board of Trustees since 2008 and Trustee since 2006 (56 portfolios); and Berea College of Kentucky: Trustee since 2009, Chair of the Investment Committee since 2018 | |
Susan B. Kerley 1951 | MainStay Funds: Chairman since 2017 and Trustee since 2007; MainStay Funds Trust: Chairman since 2017 and Trustee since 1990** | President, Strategic Management Advisors LLC since 1990 | 78 | MainStay VP Funds Trust: Chairman since January 2017 and Trustee since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Chairman since 2017 and Trustee since 2011; MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021; and Legg Mason Partners Funds: Trustee since 1991 (45 portfolios) | |
Alan R. Latshaw 1951 | MainStay Funds: Trustee since 2006; MainStay Funds Trust: Trustee since 2007** | Retired; Partner, Ernst & Young LLP (2002 to 2003); Partner, Arthur Andersen LLP (1989 to 2002); Consultant to the MainStay Funds Audit and Compliance Committee (2004 to 2006) | 78 | MainStay VP Funds Trust: Trustee since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011; and MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021 | |
Richard H. Nolan, Jr. 1946**** | MainStay Funds: Trustee since 2007; MainStay Funds Trust: Trustee since 2007** | Managing Director, ICC Capital Management since 2004; President—Shields/Alliance, Alliance Capital Management (1994 to 2004) | 78 | MainStay VP Funds Trust: Trustee since 2006 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011; and MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021 |
40 | MainStay CBRE Global Infrastructure Fund |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
Karen Hammond 1956 | MainStay Funds: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021); MainStay Funds Trust: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021) | Retired, Managing Director, Devonshire Investors (2007 to 2013); Senior Vice President, Fidelity Management & Research Co. (2005 to 2007); Senior Vice President and Corporate Treasurer, FMR Corp. (2003 to 2005); Chief Operating Officer, Fidelity Investments Japan (2001 to 2003) | 78 | MainStay VP Funds Trust: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021) (31 Portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021); MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021); Two Harbors Investment Corp.: Member since 2018, Chair of the Special Committee since 2019; Rhode Island School of Design: Director and Chair of the Finance Committee since 2015; and Blue Cross Blue Shield of Rhode Island: Director since 2019 | |
Jacques P. Perold 1958 | MainStay Funds: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); MainStay Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) | Founder and Chief Executive Officer, CapShift Advisors LLC since 2018; President, Fidelity Management & Research Company (2009 to 2014); President and Chief Investment Officer, Geode Capital Management, LLC (2001 to 2009) | 78 | MainStay VP Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021; Partners in Health: Trustee since 2019; Allstate Corporation: Director since 2015; and MSCI, Inc.: Director since 2017 | |
Richard S. Trutanic 1952 | MainStay Funds: Trustee since 1994; MainStay Funds Trust: Trustee since 2007** | Chairman and Chief Executive Officer, Somerset & Company (financial advisory firm) since 2004; Managing Director, The Carlyle Group (private investment firm) (2002 to 2004); Senior Managing Director, Partner and Board Member, Groupe Arnault S.A. (private investment firm) (1999 to 2002) | 78 | MainStay VP Funds Trust: Trustee since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011; and MainStay CBRE Global Infrastructure Megatrends Fund; Trustee since June 2021 |
Name and Year of Birth | Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | ||
Kirk C. Lehneis 1974 | President, MainStay Funds, MainStay Funds Trust since 2017 | Chief Operating Officer and Senior Managing Director since 2016, New York Life Investment Management LLC and New York Life Investment Management Holdings LLC; Member of the Board of Managers (since 2017) and Senior Managing Director (since 2018), NYLIFE Distributors LLC; Chairman of the Board and Senior Managing Director, NYLIM Service Company LLC since 2017; Trustee, President and Principal Executive Officer of IndexIQ Trust, IndexIQ ETF Trust and IndexIQ Active ETF Trust since January 2018; President, MainStay MacKay DefinedTerm Municipal Opportunities Fund and MainStay VP Funds Trust since 2017** and MainStay CBRE Global Infrastructure Megatrends Fund since 2021; Senior Managing Director, Global Product Development (2015 to 2016); Managing Director, Product Development (2010 to 2015), New York Life Investment Management LLC | ||
Jack R. Benintende 1964 | Treasurer and Principal Financial and Accounting Officer, MainStay Funds since 2007, MainStay Funds Trust since 2009 | Managing Director, New York Life Investment Management LLC since 2007; Treasurer and Principal Financial and Accounting Officer, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011, MainStay VP Funds Trust since 2007** and MainStay CBRE Global Infrastructure Megatrends Fund since 2021; and Assistant Treasurer, New York Life Investment Management Holdings LLC (2008 to 2012) | ||
J. Kevin Gao 1967 | Secretary and Chief Legal Officer, MainStay Funds and MainStay Funds Trust since 2010 | Managing Director and Associate General Counsel, New York Life Investment Management LLC since 2010; Secretary and Chief Legal Officer, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011, MainStay VP Funds Trust since 2010** and MainStay CBRE Global Infrastructure Megatrends Fund since 2021 | ||
Scott T. Harrington 1959 | Vice President— Administration, MainStay Funds since 2005, MainStay Funds Trust since 2009 | Managing Director, New York Life Investment Management LLC (including predecessor advisory organizations) since 2000; Member of the Board of Directors, New York Life Trust Company since 2009; Vice President—Administration, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011, MainStay VP Funds Trust since 2005** and MainStay CBRE Global Infrastructure Megatrends Fund since 2021 | ||
Kevin M. Bopp 1969 | Vice President and Chief Compliance Officer, MainStay Funds and MainStay Funds Trust since 2021 and 2014 to 2020 | Vice President and Chief Compliance Officer, New York Life Investments Alternatives LLC and New York Life Investment Management Holdings LLC (since 2020); Vice President (since 2018) and Chief Compliance Officer (since 2016), New York Life Investment Management LLC; Vice President and Chief Compliance Officer, IndexIQ Advisors LLC, IndexIQ Holdings Inc., IndexIQ LLC and IndexIQ Trust (since 2017); Director and Associate General Counsel (2011 to 2014) and Vice President and Assistant General Counsel (2010 to 2011), New York Life Investment Management LLC; Vice President and Chief Compliance Officer, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund (since June 2021 and 2014 to 2020) and MainStay CBRE Global Infrastructure Megatrends Fund (since 2021); Assistant Secretary, MainStay Funds, MainStay Funds Trust and MainStay VP Funds Trust (2010 to 2014)**, MainStay MacKay DefinedTerm Municipal Opportunities Fund (2011 to 2014) |
42 | MainStay CBRE Global Infrastructure Fund |
For more information
Message from the President and Annual Report
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Not FDIC/NCUA Insured | Not a Deposit | May Lose Value | No Bank Guarantee | Not Insured by Any Government Agency |
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Investors should refer to the Fund’s Summary Prospectus and/or Prospectus and consider the Fund’s investment objectives, strategies, risks, charges and expenses carefully before investing. The Summary Prospectus and/or Prospectus contain this and other information about the Fund. You may obtain copies of the Fund’s Summary Prospectus, Prospectus and Statement of Additional Information, which includes information about MainStay Funds Trust's Trustees, free of charge, upon request, by calling toll-free 800-624-6782, by writing to NYLIFE Distributors LLC, Attn: MainStay Marketing Department, 30 Hudson Street, Jersey City, NJ 07302 or by sending an e-mail to MainStayShareholderServices@nylim.com. These documents are also available via the MainStay Funds’ website at newyorklifeinvestments.com. Please read the Fund’s Summary Prospectus and/or Prospectus carefully before investing.
Average Annual Total Returns for the Year-Ended April 30, 2022 | |||||||
Class | Sales Charge | Inception Date1 | One Year | Five Years | Ten Years or Since Inception | Gross Expense Ratio2 | |
Class A Shares3 | Maximum 5.5% Initial Sales Charge | With sales charges | 12/20/2002 | 6.84% | 8.08% | 7.74% | 1.45% |
Excluding sales charges | 13.06 | 9.36 | 8.38 | 1.45 | |||
Investor Class Shares4 | Maximum 5% Initial Sales Charge | With sales charges | 2/24/2020 | 7.49 | N/A | 5.78 | 1.34 |
Excluding sales charges | 13.15 | N/A | 8.55 | 1.34 | |||
Class C Shares3 | Maximum 1% CDSC | With sales charges | 1/17/2003 | 11.27 | 8.54 | 7.53 | 2.09 |
If Redeemed Within One Year of Purchase | Excluding sales charges | 12.27 | 8.54 | 7.53 | 2.09 | ||
Class I Shares3 | No Sales Charge | 12/31/1996 | 13.51 | 9.75 | 8.71 | 1.20 | |
Class R3 Shares3 | No Sales Charge | 8/5/2011 | 12.83 | 9.10 | 8.13 | 1.80 | |
Class R6 Shares3 | No Sales Charge | 7/3/2014 | 13.61 | 9.83 | 8.60 | 0.84 |
1. | Effective at the close of business on February 21, 2020, the Fund changed its fiscal and tax year end from October 31 to April 30. |
2. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
3. | Performance figures for Class A shares, Class C shares, Class I shares, Class R3 shares and Class R6 shares, reflect the historical performance of the then-existing Class A shares, Class C shares, Class I shares, Class R and Class R6 shares of the Voya Real Estate Fund (the predecessor to the Fund, which was subject to a different fee structure) for periods prior to February 21, 2020. |
4. | Prior to June 30, 2020, the maximum initial sales charge was 5.5%, which is reflected in the applicable average annual total return figures shown. |
Benchmark Performance* | One Year | Five Years | Ten Years |
FTSE NAREIT All Equity REITs Index1 | 10.12% | 9.77% | 9.80% |
CBRE Real Estate Tiered Index2 | 10.12 | 8.26 | 8.74 |
MSCI U.S. REIT® Index3 | 11.58 | 8.62 | 8.92 |
Morningstar Real Estate Category Average4 | 8.06 | 8.36 | 8.31 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | The Fund has selected the FTSE NAREIT All Equity REITs Index as its primary benchmark. The FTSE NAREIT All Equity REITs Index is a free-float adjusted, market capitalization-weighted index of U.S. equity REITs. Constituents of the index include all tax-qualified REITs with more than 50 percent of total assets in qualifying real estate assets other than mortgages secured by real property. |
2. | The Fund has selected a tiered benchmark as its secondary benchmark. The returns for the tiered benchmark represent the returns of the MSCI U.S. REIT® Index prior to January 1, 2021 and the returns of the FTSE NAREIT All Equity REITs Index thereafter. |
3. | The MSCI U.S. REIT® Index is a free float-adjusted market capitalization weighted index that is comprised of equity real estate investment trusts. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
4. | The Morningstar Real Estate Category Average is representative of funds that invest primarily in real estate investment trusts of various types. REITs are companies that develop and manage real estate properties. There are several different types of REITs, including apartment, factory-outlet, healthcare, hotel, industrial, mortgage, office, and shopping center REITs. Some portfolios in this category also invest in real estate operating companies. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
6 | MainStay CBRE Real Estate Fund |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $975.40 | $5.78 | $1,018.94 | $5.91 | 1.18% |
Investor Class Shares | $1,000.00 | $976.30 | $5.24 | $1,019.49 | $5.36 | 1.07% |
Class C Shares | $1,000.00 | $972.30 | $9.29 | $1,015.37 | $9.49 | 1.90% |
Class I Shares | $1,000.00 | $977.50 | $4.07 | $1,020.68 | $4.16 | 0.83% |
Class R3 Shares | $1,000.00 | $974.80 | $7.00 | $1,017.70 | $7.15 | 1.43% |
Class R6 Shares | $1,000.00 | $977.90 | $3.63 | $1,021.13 | $3.71 | 0.74% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the six-month period). The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
Sector Composition as of April 30, 2022 (Unaudited)
Residential | 18.9% |
Technology Towers | 15.0 |
Net Lease Properties | 11.5 |
Self Storage Property | 10.9 |
Industrial Properties | 10.7 |
Healthcare Facilities | 7.8 |
Technology Datacenters | 6.6 |
Hotels | 5.2 |
Office Buildings | 4.5% |
Enclosed Mall | 4.0 |
Community Shopping Centers | 1.7 |
Timber | 1.7 |
Short–Term Investment | 1.3 |
Other Assets, Less Liabilities | 0.2 |
100.0% |
Top Ten Holdings and/or Issuers Held as of April 30, 2022 (excluding short-term investments) (Unaudited)
1. | Crown Castle International Corp. |
2. | Prologis, Inc. |
3. | Equinix, Inc. |
4. | American Tower Corp. |
5. | Extra Space Storage, Inc. |
6. | Realty Income Corp. |
7. | CubeSmart |
8. | Sun Communities, Inc. |
9. | Simon Property Group, Inc. |
10. | Invitation Homes, Inc. |
8 | MainStay CBRE Real Estate Fund |
Shares | Value | |
Common Stocks 98.5% | ||
Community Shopping Centers 1.7% | ||
Regency Centers Corp. | 53,004 | $ 3,648,265 |
Retail Opportunity Investments Corp. | 223,500 | 4,163,805 |
7,812,070 | ||
Enclosed Mall 4.0% | ||
Simon Property Group, Inc. | 159,277 | 18,794,686 |
Healthcare Facilities 7.8% | ||
Alexandria Real Estate Equities, Inc. | 45,621 | 8,310,321 |
Healthcare Realty Trust, Inc. (a) | 156,800 | 4,246,144 |
Healthcare Trust of America, Inc., Class A | 251,465 | 7,659,624 |
Ventas, Inc. | 148,461 | 8,247,009 |
Welltower, Inc. | 89,628 | 8,139,119 |
36,602,217 | ||
Hotels 5.2% | ||
DiamondRock Hospitality Co. (b) | 335,200 | 3,559,824 |
Park Hotels & Resorts, Inc. | 392,300 | 7,732,233 |
Sunstone Hotel Investors, Inc. (b) | 605,800 | 7,421,050 |
Xenia Hotels & Resorts, Inc. (b) | 279,800 | 5,397,342 |
24,110,449 | ||
Industrial Properties 10.7% | ||
Prologis, Inc. | 233,522 | 37,431,241 |
Rexford Industrial Realty, Inc. | 159,200 | 12,423,968 |
49,855,209 | ||
Net Lease Properties 11.5% | ||
Four Corners Property Trust, Inc. | 159,700 | 4,385,362 |
Gaming and Leisure Properties, Inc. | 72,700 | 3,226,426 |
National Retail Properties, Inc. | 118,000 | 5,173,120 |
Realty Income Corp. | 289,391 | 20,072,160 |
Spirit Realty Capital, Inc. | 131,460 | 5,711,937 |
STAG Industrial, Inc. | 184,158 | 6,872,776 |
VICI Properties, Inc. | 274,173 | 8,173,097 |
53,614,878 | ||
Office Buildings 4.5% | ||
Highwoods Properties, Inc. | 110,549 | 4,514,821 |
Hudson Pacific Properties, Inc. | 224,005 | 5,214,836 |
Paramount Group, Inc. | 482,900 | 4,592,379 |
Piedmont Office Realty Trust, Inc., Class A | 427,575 | 6,883,958 |
21,205,994 | ||
Residential 18.9% | ||
Apartment Income REIT Corp. | 137,358 | 6,753,893 |
AvalonBay Communities, Inc. | 56,112 | 12,764,358 |
Camden Property Trust | 82,656 | 12,967,900 |
Shares | Value | |
Residential (continued) | ||
Essex Property Trust, Inc. | 34,033 | $ 11,206,046 |
Independence Realty Trust, Inc. | 158,400 | 4,317,984 |
Invitation Homes, Inc. | 361,048 | 14,376,931 |
NexPoint Residential Trust, Inc. | 37,434 | 3,337,616 |
Sun Communities, Inc. | 109,932 | 19,300,761 |
Tricon Residential, Inc. | 239,415 | 3,469,123 |
88,494,612 | ||
Self Storage Property 10.9% | ||
CubeSmart | 420,419 | 19,974,107 |
Extra Space Storage, Inc. | 106,634 | 20,260,460 |
Life Storage, Inc. | 78,741 | 10,432,395 |
50,666,962 | ||
Technology Datacenters 6.6% | ||
Equinix, Inc. | 43,108 | 30,998,101 |
Technology Towers 15.0% | ||
American Tower Corp. | 122,736 | 29,581,831 |
Crown Castle International Corp. | 219,645 | 40,680,450 |
70,262,281 | ||
Timber 1.7% | ||
Weyerhaeuser Co. | 196,544 | 8,101,544 |
Total Common Stocks (Cost $383,155,295) | 460,519,003 | |
Short-Term Investments 1.3% | ||
Affiliated Investment Company 0.5% | ||
MainStay U.S. Government Liquidity Fund, 0.397% (c) | 2,237,567 | 2,237,567 |
Unaffiliated Investment Company 0.8% | ||
Invesco Government & Agency Portfolio, 0.419% (c)(d) | 3,790,981 | 3,790,981 |
Total Short-Term Investments (Cost $6,028,548) | 6,028,548 | |
Total Investments (Cost $389,183,843) | 99.8% | 466,547,551 |
Other Assets, Less Liabilities | 0.2 | 789,244 |
Net Assets | 100.0% | $ 467,336,795 |
10 | MainStay CBRE Real Estate Fund |
† | Percentages indicated are based on Fund net assets. |
(a) | All or a portion of this security was held on loan. As of April 30, 2022, the aggregate market value of securities on loan was $3,633,974. The Fund received cash collateral with a value of $3,790,981. (See Note 2(H)) |
(b) | Non-income producing security. |
(c) | Current yield as of April 30, 2022. |
(d) | Represents a security purchased with cash collateral received for securities on loan. |
Affiliated Investment Companies | Value, Beginning of Year | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Year | Dividend Income | Other Distributions | Shares End of Year |
MainStay U.S. Government Liquidity Fund | $ 2,422 | $ 75,286 | $ (75,470) | $ — | $ — | $ 2,238 | $ 1 | $ — | 2,238 |
Abbreviation(s): |
REIT—Real Estate Investment Trust |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Common Stocks | $ 460,519,003 | $ — | $ — | $ 460,519,003 |
Short-Term Investments | ||||
Affiliated Investment Company | 2,237,567 | — | — | 2,237,567 |
Unaffiliated Investment Company | 3,790,981 | — | — | 3,790,981 |
Total Short-Term Investments | 6,028,548 | — | — | 6,028,548 |
Total Investments in Securities | $ 466,547,551 | $ — | $ — | $ 466,547,551 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
Assets | |
Investment in unaffiliated securities, at value (identified cost $386,946,276) including securities on loan of $3,633,974 | $464,309,984 |
Investment in affiliated investment companies, at value (identified cost $2,237,567) | 2,237,567 |
Receivables: | |
Fund shares sold | 4,742,412 |
Dividends | 340,724 |
Investment securities sold | 326,099 |
Securities lending | 140 |
Other assets | 60,033 |
Total assets | 472,016,959 |
Liabilities | |
Cash collateral received for securities on loan | 3,790,981 |
Payables: | |
Manager (See Note 3) | 319,861 |
Fund shares redeemed | 205,118 |
Transfer agent (See Note 3) | 156,096 |
Shareholder communication | 58,629 |
Professional fees | 54,993 |
NYLIFE Distributors (See Note 3) | 48,822 |
Custodian | 10,549 |
Trustees | 81 |
Accrued expenses | 35,034 |
Total liabilities | 4,680,164 |
Net assets | $467,336,795 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $31,797 |
Additional paid-in-capital | 294,285,259 |
294,317,056 | |
Total distributable earnings (loss) | 173,019,739 |
Net assets | $467,336,795 |
Class A | |
Net assets applicable to outstanding shares | $193,441,057 |
Shares of beneficial interest outstanding | 14,454,060 |
Net asset value per share outstanding | $13.38 |
Maximum sales charge (5.50% of offering price) | 0.78 |
Maximum offering price per share outstanding | $14.16 |
Investor Class | |
Net assets applicable to outstanding shares | $227,488 |
Shares of beneficial interest outstanding | 16,993 |
Net asset value per share outstanding | $13.39 |
Maximum sales charge (5.00% of offering price) | 0.70 |
Maximum offering price per share outstanding | $14.09 |
Class C | |
Net assets applicable to outstanding shares | $7,219,831 |
Shares of beneficial interest outstanding | 479,715 |
Net asset value and offering price per share outstanding | $15.05 |
Class I | |
Net assets applicable to outstanding shares | $241,718,845 |
Shares of beneficial interest outstanding | 15,253,328 |
Net asset value and offering price per share outstanding | $15.85 |
Class R3 | |
Net assets applicable to outstanding shares | $2,671,613 |
Shares of beneficial interest outstanding | 201,528 |
Net asset value and offering price per share outstanding | $13.26 |
Class R6 | |
Net assets applicable to outstanding shares | $22,057,961 |
Shares of beneficial interest outstanding | 1,391,677 |
Net asset value and offering price per share outstanding | $15.85 |
12 | MainStay CBRE Real Estate Fund |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated (net of foreign tax withholding of $1,208) | $9,778,780 |
Securities lending | 3,285 |
Dividends-affiliated | 561 |
Total income | 9,782,626 |
Expenses | |
Manager (See Note 3) | 3,420,784 |
Transfer agent (See Note 3) | 906,499 |
Distribution/Service—Class A (See Note 3) | 481,921 |
Distribution/Service—Investor Class (See Note 3) | 489 |
Distribution/Service—Class C (See Note 3) | 86,886 |
Distribution/Service—Class R3 (See Note 3) | 13,086 |
Professional fees | 131,188 |
Registration | 119,484 |
Shareholder communication | 97,858 |
Custodian | 21,995 |
Trustees | 8,721 |
Shareholder service (See Note 3) | 2,617 |
Miscellaneous | 31,852 |
Total expenses before waiver/reimbursement | 5,323,380 |
Expense waiver/reimbursement from Manager (See Note 3) | (770,498) |
Net expenses | 4,552,882 |
Net investment income (loss) | 5,229,744 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on: | |
Unaffiliated investment transactions | 111,596,336 |
Foreign currency transactions | 1,922 |
Net realized gain (loss) | 111,598,258 |
Net change in unrealized appreciation (depreciation) on: | |
Unaffiliated investments | (62,611,624) |
Translation of other assets and liabilities in foreign currencies | (22,548) |
Net change in unrealized appreciation (depreciation) | (62,634,172) |
Net realized and unrealized gain (loss) | 48,964,086 |
Net increase (decrease) in net assets resulting from operations | $54,193,830 |
for the years ended April 30, 2022 and April 30, 2021
2022 | 2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $5,229,744 | $6,951,290 |
Net realized gain (loss) | 111,598,258 | 64,338,086 |
Net change in unrealized appreciation (depreciation) | (62,634,172) | 73,811,455 |
Net increase (decrease) in net assets resulting from operations | 54,193,830 | 145,100,831 |
Distributions to shareholders: | ||
Class A | (5,974,725) | (2,954,226) |
Investor Class | (6,177) | (2,510) |
Class C | (157,619) | (147,082) |
Class I | (6,879,898) | (3,362,951) |
Class R3 | (77,566) | (40,070) |
Class R6 | (612,169) | (444,082) |
(13,708,154) | (6,950,921) | |
Distributions to shareholders from return of capital: | ||
Class A | — | (4,672,323) |
Investor Class | — | (3,969) |
Class C | — | (232,620) |
Class I | — | (5,318,752) |
Class R3 | — | (63,373) |
Class R6 | — | (702,350) |
— | (10,993,387) | |
Total distributions to shareholders | (13,708,154) | (17,944,308) |
Capital share transactions: | ||
Net proceeds from sales of shares | 107,349,432 | 43,632,468 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 12,708,131 | 16,788,246 |
Cost of shares redeemed | (101,363,518) | (241,941,306) |
Increase (decrease) in net assets derived from capital share transactions | 18,694,045 | (181,520,592) |
Net increase (decrease) in net assets | 59,179,721 | (54,364,069) |
Net Assets | ||
Beginning of year | 408,157,074 | 462,521,143 |
End of year | $467,336,795 | $408,157,074 |
14 | MainStay CBRE Real Estate Fund |
Year Ended April 30, | June 1, 2019 through April 30, 2020# | Year Ended May 31, | ||||
Class A | 2022 | 2021 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $12.20 | $8.97 | $12.32 | $14.43 | $17.81 | $19.40 |
Net investment income (loss) (a) | 0.13 | 0.16 | 0.18 | 0.21 | 0.28 | 0.19 |
Net realized and unrealized gain (loss) | 1.47 | 3.59 | (1.52) | 1.29 | (0.07) | (0.26) |
Total from investment operations | 1.60 | 3.75 | (1.34) | 1.50 | 0.21 | (0.07) |
Less distributions: | ||||||
From net investment income | (0.24) | (0.20) | (0.26) | (0.21) | (0.28) | (0.27) |
From net realized gain on investments | (0.18) | — | (1.32) | (3.40) | (3.31) | (1.25) |
Return of capital | — | (0.32) | (0.43) | — | — | — |
Total distributions | (0.42) | (0.52) | (2.01) | (3.61) | (3.59) | (1.52) |
Net asset value at end of period | $13.38 | $12.20 | $8.97 | $12.32 | $14.43 | $17.81 |
Total investment return (b) | 13.06% | 42.72% | (13.80)% | 12.73% | 0.23% | (0.36)% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 0.96% | 1.64% | 1.69%†† | 1.58% | 1.69% | 1.02% |
Net expenses | 1.18%(c) | 1.18%(c) | 1.17%†† (c)(d) | 1.24% | 1.29% | 1.27% |
Expenses (before waiver/reimbursement) | 1.30%(c) | 1.45%(c) | 1.36%†† (c)(d) | 1.31% | 1.31% | 1.27% |
Portfolio turnover rate | 70% | 93% | 88% | 82% | 102% | 53% |
Net assets at end of period (in 000's) | $193,441 | $177,328 | $149,970 | $89,037 | $81,475 | $136,095 |
# | The Fund changed its fiscal year end from May 31 to April 30. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | Net of interest expense of less than 0.01%. |
Year Ended April 30, | February 24, 2020^ through April 30, 2020 | ||
Investor Class | 2022 | 2021 | |
Net asset value at beginning of period | $12.19 | $8.97 | $12.17 |
Net investment income (loss) (a) | 0.13 | 0.15 | (0.04) |
Net realized and unrealized gain (loss) | 1.48 | 3.58 | (3.10) |
Total from investment operations | 1.61 | 3.73 | (3.14) |
Less distributions: | |||
From net investment income | (0.23) | (0.20) | (0.06) |
From net realized gain on investments | (0.18) | — | — |
Return of capital | — | (0.31) | — |
Total distributions | (0.41) | (0.51) | (0.06) |
Net asset value at end of period | $13.39 | $12.19 | $8.97 |
Total investment return (b) | 13.15% | 42.41% | (25.74)% |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 0.98% | 1.53% | (2.55)%†† |
Net expenses (c) | 1.15% | 1.26% | 1.35%†† |
Expenses (before waiver/reimbursement) (c) | 1.26% | 1.34% | 1.56%†† |
Portfolio turnover rate | 70% | 93% | 88% |
Net assets at end of period (in 000's) | $227 | $157 | $103 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
16 | MainStay CBRE Real Estate Fund |
Year Ended April 30, | June 1, 2019 through April 30, 2020# | Year Ended May 31, | ||||
Class C | 2022 | 2021 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $13.66 | $9.96 | $13.47 | $15.44 | $18.80 | $20.38 |
Net investment income (loss) | 0.03(a) | 0.07(a) | 0.11(a) | 0.11 | 0.16(a) | 0.05(a) |
Net realized and unrealized gain (loss) | 1.66 | 4.02 | (1.71) | 1.42 | (0.08) | (0.28) |
Total from investment operations | 1.69 | 4.09 | (1.60) | 1.53 | 0.08 | (0.23) |
Less distributions: | ||||||
From net investment income | (0.12) | (0.15) | (0.18) | (0.10) | (0.13) | (0.10) |
From net realized gain on investments | (0.18) | — | (1.32) | (3.40) | (3.31) | (1.25) |
Return of capital | — | (0.24) | (0.41) | — | — | — |
Total distributions | (0.30) | (0.39) | (1.91) | (3.50) | (3.44) | (1.35) |
Net asset value at end of period | $15.05 | $13.66 | $9.96 | $13.47 | $15.44 | $18.80 |
Total investment return (b) | 12.27% | 41.65% | (14.44)% | 11.90% | (0.50)% | (1.10)% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 0.22% | 0.66% | 1.00%†† | 0.85% | 0.90% | 0.27% |
Net expenses | 1.91%(c) | 1.93%(c) | 1.92%†† (c)(d) | 1.99% | 2.04% | 2.02% |
Expenses (before waiver/reimbursement) | 2.01%(c) | 2.09%(c) | 2.13%†† (c)(d) | 2.06% | 2.06% | 2.02% |
Portfolio turnover rate | 70% | 93% | 88% | 82% | 102% | 53% |
Net assets at end of period (in 000's) | $7,220 | $10,202 | $20,942 | $11,216 | $13,449 | $22,084 |
# | The Fund changed its fiscal year end from May 31 to April 30. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | Net of interest expense of less than 0.01%. |
Year Ended April 30, | June 1, 2019 through April 30, 2020# | Year Ended May 31, | ||||
Class I | 2022 | 2021 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $14.37 | $10.49 | $14.08 | $15.99 | $19.36 | $20.95 |
Net investment income (loss) (a) | 0.21 | 0.22 | 0.24 | 0.30 | 0.37 | 0.28 |
Net realized and unrealized gain (loss) | 1.74 | 4.22 | (1.79) | 1.45 | (0.09) | (0.28) |
Total from investment operations | 1.95 | 4.44 | (1.55) | 1.75 | 0.28 | — |
Less distributions: | ||||||
From net investment income | (0.29) | (0.22) | (0.28) | (0.26) | (0.34) | (0.34) |
From net realized gain on investments | (0.18) | — | (1.32) | (3.40) | (3.31) | (1.25) |
Return of capital | — | (0.34) | (0.44) | — | — | — |
Total distributions | (0.47) | (0.56) | (2.04) | (3.66) | (3.65) | (1.59) |
Net asset value at end of period | $15.85 | $14.37 | $10.49 | $14.08 | $15.99 | $19.36 |
Total investment return (b) | 13.51% | 43.19% | (13.54)% | 13.08% | 0.63% | 0.04% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.32% | 1.92% | 2.01%†† | 1.95% | 2.02% | 1.37% |
Net expenses | 0.83%(c) | 0.83%(c) | 0.84%†† (c)(d) | 0.91% | 0.91% | 0.90% |
Expenses (before waiver/reimbursement) | 1.05%(c) | 1.20%(c) | 1.04%†† (c)(d) | 0.97% | 0.92% | 0.90% |
Portfolio turnover rate | 70% | 93% | 88% | 82% | 102% | 53% |
Net assets at end of period (in 000's) | $241,719 | $202,597 | $232,730 | $166,056 | $311,814 | $723,538 |
# | The Fund changed its fiscal year end from May 31 to April 30. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class I shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | Net of interest expense of less than 0.01%. |
18 | MainStay CBRE Real Estate Fund |
Year Ended April 30, | June 1, 2019 through April 30, 2020# | Year Ended May 31, | ||||
Class R3 | 2022 | 2021 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $12.09 | $8.89 | $12.23 | $14.35 | $17.73 | $19.33 |
Net investment income (loss) | 0.10(a) | 0.11(a) | 0.15(a) | 0.18 | 0.23(a) | 0.15 |
Net realized and unrealized gain (loss) | 1.46 | 3.59 | (1.51) | 1.28 | (0.06) | (0.27) |
Total from investment operations | 1.56 | 3.70 | (1.36) | 1.46 | 0.17 | (0.12) |
Less distributions: | ||||||
From net investment income | (0.21) | (0.19) | (0.23) | (0.18) | (0.24) | (0.23) |
From net realized gain on investments | (0.18) | — | (1.32) | (3.40) | (3.31) | (1.25) |
Return of capital | — | (0.31) | (0.43) | — | — | — |
Total distributions | (0.39) | (0.50) | (1.98) | (3.58) | (3.55) | (1.48) |
Net asset value at end of period | $13.26 | $12.09 | $8.89 | $12.23 | $14.35 | $17.73 |
Total investment return (b) | 12.83% | 42.47% | (14.04)% | 12.43% | —% | (0.63)% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 0.72% | 1.14% | 1.42%†† | 1.36% | 1.43% | 0.77% |
Net expenses | 1.43%(c) | 1.43%(c) | 1.42%†† (c)(d) | 1.49% | 1.54% | 1.52% |
Expenses (before waiver/reimbursement) | 1.65%(c) | 1.80%(c) | 1.61%†† (c)(d) | 1.56% | 1.56% | 1.52% |
Portfolio turnover rate | 70% | 93% | 88% | 82% | 102% | 53% |
Net assets at end of period (in 000's) | $2,672 | $2,298 | $2,527 | $2,454 | $2,965 | $4,448 |
# | The Fund changed its fiscal year end from May 31 to April 30. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R3 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | Net of interest expense of less than 0.01%. |
Year Ended April 30, | June 1, 2019 through April 30, 2020# | Year Ended May 31, | ||||
Class R6 | 2022 | 2021 | 2019 | 2018 | 2017 | |
Net asset value at beginning of period | $14.37 | $10.49 | $14.09 | $15.99 | $19.36 | $20.96 |
Net investment income (loss) | 0.22(a) | 0.09(a) | 0.26(a) | 0.32 | 0.37(a) | 0.30(a) |
Net realized and unrealized gain (loss) | 1.74 | 4.36 | (1.80) | 1.45 | (0.08) | (0.30) |
Total from investment operations | 1.96 | 4.45 | (1.54) | 1.77 | 0.29 | 0.00‡ |
Less distributions: | ||||||
From net investment income | (0.30) | (0.22) | (0.30) | (0.27) | (0.35) | (0.35) |
From net realized gain on investments | (0.18) | — | (1.32) | (3.40) | (3.31) | (1.25) |
Return of capital | — | (0.35) | (0.44) | — | — | — |
Total distributions | (0.48) | (0.57) | (2.06) | (3.67) | (3.66) | (1.60) |
Net asset value at end of period | $15.85 | $14.37 | $10.49 | $14.09 | $15.99 | $19.36 |
Total investment return (b) | 13.61% | 43.35% | (13.53)% | 13.24% | 0.69% | 0.03% |
Ratios (to average net assets)/Supplemental Data: | ||||||
Net investment income (loss) | 1.40% | 0.80% | 2.06%†† | 2.05% | 2.12% | 1.47% |
Net expenses | 0.74%(c) | 0.74%(c) | 0.76%†† (c)(d) | 0.83% | 0.86% | 0.86% |
Expenses (before waiver/reimbursement) | 0.84%(c) | 0.84%(c) | 0.88%†† (c)(d) | 0.89% | 0.86% | 0.86% |
Portfolio turnover rate | 70% | 93% | 88% | 82% | 102% | 53% |
Net assets at end of period (in 000's) | $22,058 | $15,574 | $56,250 | $79,327 | $79,646 | $42,574 |
# | The Fund changed its fiscal year end from May 31 to April 30. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R6 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
(d) | Net of interest expense of less than 0.01%. |
20 | MainStay CBRE Real Estate Fund |
Class | Commenced Operations |
Class A | December 20, 2002 |
Investor Class | February 24, 2020 |
Class C | January 17, 2003 |
Class I | December 31, 1996 |
Class R3 | August 5, 2011 |
Class R6 | July 3, 2014 |
SIMPLE Class | N/A* |
* | SIMPLE Class shares were registered for sale effective as of August 31, 2020 but have not yet commenced operations. |
• Broker/dealer quotes | • Benchmark securities |
• Two-sided markets | • Reference data (corporate actions or material event notices) |
• Bids/offers | • Monthly payment information |
• Industry and economic events | • Reported trades |
22 | MainStay CBRE Real Estate Fund |
24 | MainStay CBRE Real Estate Fund |
Class R3 | $2,617 |
Class | Expense | Waived |
Class A | $406,017 | $— |
Investor Class | 330 | — |
Class C | 14,407 | — |
Class I | 479,528 | — |
Class R3 | 5,430 | — |
Class R6 | 787 | — |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $390,528,121 | $84,639,617 | $(8,620,187) | $76,019,430 |
Ordinary income | Accumulated Capital and Other Gain (Loss) | Other Temporary Differences | Unrealized Appreciation (Depreciation) | Total Accumulated Gain (Loss) |
$20,358,903 | $76,743,233 | $(88,515) | $76,006,118 | $173,019,739 |
2022 | 2021 | |
Distributions paid from: | ||
Ordinary Income | $8,176,041 | $6,950,921 |
Long-Term Capital Gains | 5,532,113 | — |
Return of Capital | — | 10,993,387 |
Total | $13,708,154 | $17,944,308 |
26 | MainStay CBRE Real Estate Fund |
Class A | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 2,474,614 | $33,342,180 |
Shares issued to shareholders in reinvestment of distributions | 407,302 | 5,603,692 |
Shares redeemed | (2,975,753) | (39,795,668) |
Net increase (decrease) in shares outstanding before conversion | (93,837) | (849,796) |
Shares converted into Class A (See Note 1) | 11,379 | 146,928 |
Shares converted from Class A (See Note 1) | (4,131) | (53,907) |
Net increase (decrease) | (86,589) | $(756,775) |
Year ended April 30, 2021: | ||
Shares sold | 1,912,007 | $19,807,123 |
Shares issued to shareholders in reinvestment of distributions | 672,786 | 7,133,203 |
Shares redeemed | (4,784,088) | (48,087,615) |
Net increase (decrease) in shares outstanding before conversion | (2,199,295) | (21,147,289) |
Shares converted into Class A (See Note 1) | 25,910 | 279,015 |
Shares converted from Class A (See Note 1) | (6,838) | (66,723) |
Net increase (decrease) | (2,180,223) | $(20,934,997) |
Investor Class | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 4,933 | $66,875 |
Shares issued to shareholders in reinvestment of distributions | 448 | 6,176 |
Shares redeemed | (1,138) | (15,703) |
Net increase (decrease) in shares outstanding before conversion | 4,243 | 57,348 |
Shares converted into Investor Class (See Note 1) | 973 | 12,962 |
Shares converted from Investor Class (See Note 1) | (1,093) | (13,822) |
Net increase (decrease) | 4,123 | $56,488 |
Year ended April 30, 2021: | ||
Shares sold | 7,160 | $73,066 |
Shares issued to shareholders in reinvestment of distributions | 610 | 6,456 |
Shares redeemed | (3,999) | (40,668) |
Net increase (decrease) in shares outstanding before conversion | 3,771 | 38,854 |
Shares converted into Investor Class (See Note 1) | 2,878 | 30,136 |
Shares converted from Investor Class (See Note 1) | (5,275) | (58,778) |
Net increase (decrease) | 1,374 | $10,212 |
Class C | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 51,919 | $789,439 |
Shares issued to shareholders in reinvestment of distributions | 10,012 | 156,795 |
Shares redeemed | (319,942) | (4,760,464) |
Net increase (decrease) in shares outstanding before conversion | (258,011) | (3,814,230) |
Shares converted from Class C (See Note 1) | (9,305) | (134,919) |
Net increase (decrease) | (267,316) | $(3,949,149) |
Year ended April 30, 2021: | ||
Shares sold | 13,736 | $156,509 |
Shares issued to shareholders in reinvestment of distributions | 30,443 | 355,098 |
Shares redeemed | (1,384,178) | (15,699,229) |
Net increase (decrease) in shares outstanding before conversion | (1,339,999) | (15,187,622) |
Shares converted from Class C (See Note 1) | (15,974) | (183,802) |
Net increase (decrease) | (1,355,973) | $(15,371,424) |
Class I | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 4,016,150 | $64,133,515 |
Shares issued to shareholders in reinvestment of distributions | 390,452 | 6,333,075 |
Shares redeemed | (3,151,388) | (50,417,941) |
Net increase (decrease) in shares outstanding before conversion | 1,255,214 | 20,048,649 |
Shares converted into Class I (See Note 1) | 3,502 | 53,907 |
Shares converted from Class I (See Note 1) | (107,874) | (1,682,829) |
Net increase (decrease) | 1,150,842 | $18,419,727 |
Year ended April 30, 2021: | ||
Shares sold | 1,623,062 | $18,603,965 |
Shares issued to shareholders in reinvestment of distributions | 659,645 | 8,105,294 |
Shares redeemed | (10,376,512) | (120,614,824) |
Net increase (decrease) in shares outstanding before conversion | (8,093,805) | (93,905,565) |
Shares converted into Class I (See Note 1) | 5,839 | 66,724 |
Net increase (decrease) | (8,087,966) | $(93,838,841) |
Class R3 | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 53,893 | $721,265 |
Shares issued to shareholders in reinvestment of distributions | 5,408 | 73,969 |
Shares redeemed | (47,089) | (640,654) |
Net increase (decrease) in shares outstanding before conversion | 12,212 | 154,580 |
Shares converted from Class R3 (See Note 1) | (850) | (11,149) |
Net increase (decrease) | 11,362 | $143,431 |
Year ended April 30, 2021: | ||
Shares sold | 37,067 | $373,204 |
Shares issued to shareholders in reinvestment of distributions | 8,854 | 92,818 |
Shares redeemed | (134,032) | (1,314,154) |
Net increase (decrease) in shares outstanding before conversion | (88,111) | (848,132) |
Shares converted from Class R3 (See Note 1) | (5,845) | (66,572) |
Net increase (decrease) | (93,956) | $(914,704) |
Class R6 | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 522,511 | $8,296,158 |
Shares issued to shareholders in reinvestment of distributions | 32,944 | 534,424 |
Shares redeemed | (355,617) | (5,733,088) |
Net increase (decrease) in shares outstanding before conversion | 199,838 | 3,097,494 |
Shares converted into Class R6 (See Note 1) | 107,874 | 1,682,829 |
Net increase (decrease) | 307,712 | $4,780,323 |
Year ended April 30, 2021: | ||
Shares sold | 398,765 | $4,618,601 |
Shares issued to shareholders in reinvestment of distributions | 94,137 | 1,095,377 |
Shares redeemed | (4,771,047) | (56,184,816) |
Net increase (decrease) | (4,278,145) | $(50,470,838) |
28 | MainStay CBRE Real Estate Fund |
MainStay Funds Trust:
June 27, 2022
30 | MainStay CBRE Real Estate Fund |
32 | MainStay CBRE Real Estate Fund |
34 | MainStay CBRE Real Estate Fund |
36 | MainStay CBRE Real Estate Fund |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
Yie-Hsin Hung* 1962 | MainStay Funds: Trustee since 2017; MainStay Funds Trust: Trustee since 2017 | Senior Vice President of New York Life since joining in 2010, Member of the Executive Management Committee since 2017, Chief Executive Officer, New York Life Investment Management Holdings LLC & New York Life Investment Management LLC since 2015. Senior Managing Director and Co-President of New York Life Investment Management LLC from January 2014 to May 2015. Previously held positions of increasing responsibility, including head of NYLIM International, Alternative Growth Businesses, and Institutional investments since joining New York Life in 2010 | 78 | MainStay VP Funds Trust: Trustee since 2017 (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2017; MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since March 2021; and Turtle Beach Corporation: Director since April 2021 |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
David H. Chow 1957 | MainStay Funds: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); MainStay Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) | Founder and CEO, DanCourt Management, LLC since 1999 | 78 | MainStay VP Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021; VanEck Vectors Group of Exchange-Traded Funds: Independent Chairman of the Board of Trustees since 2008 and Trustee since 2006 (56 portfolios); and Berea College of Kentucky: Trustee since 2009, Chair of the Investment Committee since 2018 | |
Susan B. Kerley 1951 | MainStay Funds: Chairman since 2017 and Trustee since 2007; MainStay Funds Trust: Chairman since 2017 and Trustee since 1990** | President, Strategic Management Advisors LLC since 1990 | 78 | MainStay VP Funds Trust: Chairman since January 2017 and Trustee since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Chairman since 2017 and Trustee since 2011; MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021; and Legg Mason Partners Funds: Trustee since 1991 (45 portfolios) | |
Alan R. Latshaw 1951 | MainStay Funds: Trustee since 2006; MainStay Funds Trust: Trustee since 2007** | Retired; Partner, Ernst & Young LLP (2002 to 2003); Partner, Arthur Andersen LLP (1989 to 2002); Consultant to the MainStay Funds Audit and Compliance Committee (2004 to 2006) | 78 | MainStay VP Funds Trust: Trustee since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011; and MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021 | |
Richard H. Nolan, Jr. 1946**** | MainStay Funds: Trustee since 2007; MainStay Funds Trust: Trustee since 2007** | Managing Director, ICC Capital Management since 2004; President—Shields/Alliance, Alliance Capital Management (1994 to 2004) | 78 | MainStay VP Funds Trust: Trustee since 2006 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011; and MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021 |
38 | MainStay CBRE Real Estate Fund |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
Karen Hammond 1956 | MainStay Funds: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021); MainStay Funds Trust: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021) | Retired, Managing Director, Devonshire Investors (2007 to 2013); Senior Vice President, Fidelity Management & Research Co. (2005 to 2007); Senior Vice President and Corporate Treasurer, FMR Corp. (2003 to 2005); Chief Operating Officer, Fidelity Investments Japan (2001 to 2003) | 78 | MainStay VP Funds Trust: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021) (31 Portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021); MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021); Two Harbors Investment Corp.: Member since 2018, Chair of the Special Committee since 2019; Rhode Island School of Design: Director and Chair of the Finance Committee since 2015; and Blue Cross Blue Shield of Rhode Island: Director since 2019 | |
Jacques P. Perold 1958 | MainStay Funds: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); MainStay Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) | Founder and Chief Executive Officer, CapShift Advisors LLC since 2018; President, Fidelity Management & Research Company (2009 to 2014); President and Chief Investment Officer, Geode Capital Management, LLC (2001 to 2009) | 78 | MainStay VP Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021; Partners in Health: Trustee since 2019; Allstate Corporation: Director since 2015; and MSCI, Inc.: Director since 2017 | |
Richard S. Trutanic 1952 | MainStay Funds: Trustee since 1994; MainStay Funds Trust: Trustee since 2007** | Chairman and Chief Executive Officer, Somerset & Company (financial advisory firm) since 2004; Managing Director, The Carlyle Group (private investment firm) (2002 to 2004); Senior Managing Director, Partner and Board Member, Groupe Arnault S.A. (private investment firm) (1999 to 2002) | 78 | MainStay VP Funds Trust: Trustee since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011; and MainStay CBRE Global Infrastructure Megatrends Fund; Trustee since June 2021 |
Name and Year of Birth | Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | ||
Kirk C. Lehneis 1974 | President, MainStay Funds, MainStay Funds Trust since 2017 | Chief Operating Officer and Senior Managing Director since 2016, New York Life Investment Management LLC and New York Life Investment Management Holdings LLC; Member of the Board of Managers (since 2017) and Senior Managing Director (since 2018), NYLIFE Distributors LLC; Chairman of the Board and Senior Managing Director, NYLIM Service Company LLC since 2017; Trustee, President and Principal Executive Officer of IndexIQ Trust, IndexIQ ETF Trust and IndexIQ Active ETF Trust since January 2018; President, MainStay MacKay DefinedTerm Municipal Opportunities Fund and MainStay VP Funds Trust since 2017** and MainStay CBRE Global Infrastructure Megatrends Fund since 2021; Senior Managing Director, Global Product Development (2015 to 2016); Managing Director, Product Development (2010 to 2015), New York Life Investment Management LLC | ||
Jack R. Benintende 1964 | Treasurer and Principal Financial and Accounting Officer, MainStay Funds since 2007, MainStay Funds Trust since 2009 | Managing Director, New York Life Investment Management LLC since 2007; Treasurer and Principal Financial and Accounting Officer, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011, MainStay VP Funds Trust since 2007** and MainStay CBRE Global Infrastructure Megatrends Fund since 2021; and Assistant Treasurer, New York Life Investment Management Holdings LLC (2008 to 2012) | ||
J. Kevin Gao 1967 | Secretary and Chief Legal Officer, MainStay Funds and MainStay Funds Trust since 2010 | Managing Director and Associate General Counsel, New York Life Investment Management LLC since 2010; Secretary and Chief Legal Officer, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011, MainStay VP Funds Trust since 2010** and MainStay CBRE Global Infrastructure Megatrends Fund since 2021 | ||
Scott T. Harrington 1959 | Vice President— Administration, MainStay Funds since 2005, MainStay Funds Trust since 2009 | Managing Director, New York Life Investment Management LLC (including predecessor advisory organizations) since 2000; Member of the Board of Directors, New York Life Trust Company since 2009; Vice President—Administration, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011, MainStay VP Funds Trust since 2005** and MainStay CBRE Global Infrastructure Megatrends Fund since 2021 | ||
Kevin M. Bopp 1969 | Vice President and Chief Compliance Officer, MainStay Funds and MainStay Funds Trust since 2021 and 2014 to 2020 | Vice President and Chief Compliance Officer, New York Life Investments Alternatives LLC and New York Life Investment Management Holdings LLC (since 2020); Vice President (since 2018) and Chief Compliance Officer (since 2016), New York Life Investment Management LLC; Vice President and Chief Compliance Officer, IndexIQ Advisors LLC, IndexIQ Holdings Inc., IndexIQ LLC and IndexIQ Trust (since 2017); Director and Associate General Counsel (2011 to 2014) and Vice President and Assistant General Counsel (2010 to 2011), New York Life Investment Management LLC; Vice President and Chief Compliance Officer, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund (since June 2021 and 2014 to 2020) and MainStay CBRE Global Infrastructure Megatrends Fund (since 2021); Assistant Secretary, MainStay Funds, MainStay Funds Trust and MainStay VP Funds Trust (2010 to 2014)**, MainStay MacKay DefinedTerm Municipal Opportunities Fund (2011 to 2014) |
40 | MainStay CBRE Real Estate Fund |
For more information
Message from the President and Annual Report
MainStay Defensive ETF Allocation Fund |
MainStay Conservative ETF Allocation Fund |
MainStay Moderate ETF Allocation Fund |
MainStay Growth ETF Allocation Fund |
MainStay Equity ETF Allocation Fund |
MainStay ESG Multi-Asset Allocation Fund |
please log in to newyorklifeinvestments.com/accounts.
Not FDIC/NCUA Insured | Not a Deposit | May Lose Value | No Bank Guarantee | Not Insured by Any Government Agency |
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124 |
Investors should refer to each Fund’s Summary Prospectus and/or Prospectus and consider each Fund’s investment objectives, strategies, risks, charges and expenses carefully before investing. The Summary Prospectus and/or Prospectus contain this and other information about each Fund. You may obtain copies of each Fund’s Summary Prospectus, Prospectus and Statement of Additional Information, which includes information about MainStay Funds Trust's Trustees, free of charge, upon request, by calling toll-free 800-624-6782, by writing to NYLIFE Distributors LLC, Attn: MainStay Marketing Department, 30 Hudson Street, Jersey City, NJ 07302 or by sending an e-mail to MainStayShareholderServices@nylim.com. These documents are also available via the MainStay Funds’ website at newyorklifeinvestments.com. Please read each Fund’s Summary Prospectus and/or Prospectus carefully before investing.
Investment and Performance Comparison (Unaudited)
Average Annual Total Returns for the Year-Ended April 30, 2022 | ||||||
Class | Sales Charge | Inception Date | One Year | Since Inception | Gross Expense Ratio1 | |
Class A Shares | Maximum 3% Initial Sales Charge | With sales charges | 6/30/2020 | -9.30% | -2.43% | 2.47% |
Excluding sales charges | -6.49 | -0.80 | 2.47 | |||
Class C Shares | Maximum 1% CDSC | With sales charges | 6/30/2020 | -8.19 | -1.53 | 3.24 |
if redeemed Within One Year of Purchase | Excluding sales charges | -7.28 | -1.53 | 3.24 | ||
Class I Shares | No Sales Charge | 6/30/2020 | -6.25 | -0.52 | 2.22 | |
Class R3 Shares | No Sales Charge | 6/30/2020 | -6.91 | -1.14 | 2.82 | |
SIMPLE Class Shares | No Sales Charge | 8/31/2020 | -6.74 | -2.64 | 2.74 |
1. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
Benchmark Performance* | One Year | Since Inception |
S&P 500® Index1 | 0.21% | 18.70% |
MSCI EAFE® Index (Net)2 | -8.15 | 9.99 |
Bloomberg U.S. Aggregate Bond Index3 | -8.51 | -5.44 |
Defensive Allocation Composite Index4 | -7.11 | -1.23 |
Morningstar Allocation - 15% to 30% Equity Category Average5 | -5.02 | 2.34 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | The S&P 500® Index is the Fund’s primary broad-based securities market index for comparison purposes. S&P 500® is a trademark of The McGraw-Hill Companies, Inc. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
2. | The MSCI EAFE® Index (Net) is the Fund's secondary benchmark. The MSCI EAFE® Index (Net) consists of international stocks representing the developed world outside of North America. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
3. | The Fund has selected the Bloomberg U.S. Aggregate Bond Index as an additional benchmark. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasurys, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities, and commercial mortgage-backed securities. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
4. | The Fund has selected the Defensive Allocation Composite Index as an additional benchmark. The Defensive Allocation Composite Index consists of the S&P 500® Index, the MSCI EAFE® Index (Net) and the Bloomberg U.S. Aggregate Bond Index weighted 15%, 5% and 80%, respectively. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
5. | The Morningstar Allocation – 15% to 30% Equity Category Average is representative of funds that seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds, and cash. These portfolios are dominated by domestic holdings and have equity exposures between 15% and 30%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
6 | MainStay Defensive ETF Allocation Fund |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $918.60 | $3.81 | $1,020.83 | $4.01 | 0.80% |
Class C Shares | $1,000.00 | $915.00 | $7.36 | $1,017.11 | $7.75 | 1.55% |
Class I Shares | $1,000.00 | $919.70 | $2.62 | $1,022.07 | $2.76 | 0.55% |
Class R3 Shares | $1,000.00 | $916.90 | $5.47 | $1,019.09 | $5.76 | 1.15% |
SIMPLE Class Shares | $1,000.00 | $917.30 | $4.99 | $1,019.59 | $5.26 | 1.05% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the six-month period). The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
Asset Diversification as of April 30, 2022 (Unaudited)
Equity Funds | 23.1% |
Fixed Income Funds | 74.8 |
Short-Term Investments | 19.4 |
Other Assets, Less Liabilities | (17.3) |
8 | MainStay Defensive ETF Allocation Fund |
10 | MainStay Defensive ETF Allocation Fund |
Shares | Value | |
Investment Companies 97.9% | ||
Equity Funds 23.1% | ||
Health Care Select Sector SPDR Fund | 347 | $ 45,211 |
Invesco S&P 500 Low Volatility ETF (a) | 2,231 | 145,796 |
iShares Core MSCI EAFE ETF | 7,408 | 480,112 |
iShares Core S&P Small-Cap ETF | 4,305 | 428,003 |
iShares Semiconductor ETF | 69 | 27,654 |
Schwab U.S. Mid-Cap ETF | 1,538 | 107,875 |
Schwab U.S. Small-Cap ETF | 5,520 | 237,802 |
SPDR S&P Oil & Gas Exploration & Production ETF | 527 | 69,464 |
VanEck Gold Miners ETF | 2,455 | 85,900 |
VanEck Oil Services ETF (a) | 263 | 69,369 |
Vanguard Mega Cap ETF | 1,465 | 211,077 |
Vanguard Mega Cap Value ETF | 1,851 | 188,987 |
Vanguard Mid-Cap ETF | 796 | 174,133 |
Total Equity Funds (Cost $2,256,133) | 2,271,383 | |
Fixed Income Funds 74.8% | ||
Invesco Senior Loan ETF (a) | 45,347 | 977,682 |
iShares 0-5 Year High Yield Corporate Bond ETF (a) | 21,779 | 930,181 |
iShares 20+ Year Treasury Bond ETF (a) | 807 | 96,396 |
iShares Broad USD High Yield Corporate Bond ETF (a) | 10,481 | 388,216 |
iShares Broad USD Investment Grade Corporate Bond ETF | 18,917 | 984,819 |
iShares Core U.S. Aggregate Bond ETF | 19,278 | 1,983,128 |
Schwab U.S. Aggregate Bond ETF | 40,893 | 1,982,084 |
Total Fixed Income Funds (Cost $8,020,712) | 7,342,506 | |
Total Investment Companies (Cost $10,276,845) | 9,613,889 | |
Short-Term Investments 19.4% | ||
Affiliated Investment Company 2.8% | ||
MainStay U.S. Government Liquidity Fund, 0.397% (b) | 274,097 | 274,097 |
Unaffiliated Investment Company 16.6% | ||
Invesco Government & Agency Portfolio, 0.419% (b)(c) | 1,632,075 | 1,632,075 |
Total Short-Term Investments (Cost $1,906,172) | 1,906,172 | |
Total Investments (Cost $12,183,017) | 117.3% | 11,520,061 |
Other Assets, Less Liabilities | (17.3) | (1,698,873) |
Net Assets | 100.0% | $ 9,821,188 |
12 | MainStay Defensive ETF Allocation Fund |
† | Percentages indicated are based on Fund net assets. |
(a) | All or a portion of this security was held on loan. As of April 30, 2022, the aggregate market value of securities on loan was $2,352,251; the total market value of collateral held by the Fund was $2,431,381. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $799,306. The Fund received cash collateral with a value of $1,632,075. (See Note 2(H)) |
(b) | Current yield as of April 30, 2022. |
(c) | Represents a security purchased with cash collateral received for securities on loan. |
Affiliated Investment Companies | Value, Beginning of Year | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Year | Dividend Income | Other Distributions | Shares End of Year |
MainStay U.S. Government Liquidity Fund | $ 292 | $ 5,418 | $ (5,436) | $ — | $ — | $ 274 | $ —(a) | $ — | 274 |
(a) | Less than $500. |
Abbreviation(s): |
EAFE—Europe, Australasia and Far East |
ETF—Exchange-Traded Fund |
MSCI—Morgan Stanley Capital International |
SPDR—Standard & Poor’s Depositary Receipt |
USD—United States Dollar |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Investment Companies | ||||
Equity Funds | $ 2,271,383 | $ — | $ — | $ 2,271,383 |
Fixed Income Funds | 7,342,506 | — | — | 7,342,506 |
Total Investment Companies | 9,613,889 | — | — | 9,613,889 |
Short-Term Investments | ||||
Affiliated Investment Company | 274,097 | — | — | 274,097 |
Unaffiliated Investment Company | 1,632,075 | — | — | 1,632,075 |
Total Short-Term Investments | 1,906,172 | — | — | 1,906,172 |
Total Investments in Securities | $ 11,520,061 | $ — | $ — | $ 11,520,061 |
(a) | For a complete listing of investments, see the Portfolio of Investments. |
Assets | |
Investment in unaffiliated securities, at value (identified cost $11,908,920) including securities on loan of $2,352,251 | $11,245,964 |
Investment in affiliated investment companies, at value (identified cost $274,097) | 274,097 |
Receivables: | |
Investment securities sold | 49,268 |
Manager (See Note 3) | 7,976 |
Fund shares sold | 3,588 |
Securities lending | 3,056 |
Dividends | 39 |
Other assets | 31,268 |
Total assets | 11,615,256 |
Liabilities | |
Cash collateral received for securities on loan | 1,632,075 |
Payables: | |
Investment securities purchased | 146,624 |
Custodian | 5,836 |
Shareholder communication | 4,325 |
NYLIFE Distributors (See Note 3) | 2,146 |
Transfer agent (See Note 3) | 1,182 |
Professional fees | 779 |
Trustees | 544 |
Accrued expenses | 557 |
Total liabilities | 1,794,068 |
Net assets | $9,821,188 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $1,034 |
Additional paid-in-capital | 10,501,801 |
10,502,835 | |
Total distributable earnings (loss) | (681,647) |
Net assets | $9,821,188 |
Class A | |
Net assets applicable to outstanding shares | $9,365,828 |
Shares of beneficial interest outstanding | 985,619 |
Net asset value per share outstanding | $9.50 |
Maximum sales charge (3.00% of offering price) | 0.29 |
Maximum offering price per share outstanding | $9.79 |
Class C | |
Net assets applicable to outstanding shares | $117,411 |
Shares of beneficial interest outstanding | 12,369 |
Net asset value and offering price per share outstanding | $9.49 |
Class I | |
Net assets applicable to outstanding shares | $34,841 |
Shares of beneficial interest outstanding | 3,668 |
Net asset value and offering price per share outstanding | $9.50 |
Class R3 | |
Net assets applicable to outstanding shares | $31,813 |
Shares of beneficial interest outstanding | 3,351 |
Net asset value and offering price per share outstanding | $9.49 |
SIMPLE Class | |
Net assets applicable to outstanding shares | $271,295 |
Shares of beneficial interest outstanding | 28,551 |
Net asset value and offering price per share outstanding | $9.50 |
14 | MainStay Defensive ETF Allocation Fund |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated | $233,114 |
Securities lending | 13,749 |
Dividends-affiliated | 55 |
Total income | 246,918 |
Expenses | |
Professional fees | 43,555 |
Registration | 43,248 |
Distribution/Service—Class A (See Note 3) | 22,663 |
Distribution/Service—Class C (See Note 3) | 1,438 |
Distribution/Service—Class R3 (See Note 3) | 146 |
Distribution/Service—SIMPLE Class (See Note 3) | 726 |
Manager (See Note 3) | 19,051 |
Offering (See Note 2) | 16,106 |
Custodian | 13,910 |
Shareholder communication | 1,868 |
Trustees | 317 |
Transfer agent (See Note 3) | 302 |
Shareholder service (See Note 3) | 29 |
Miscellaneous | 4,535 |
Total expenses before waiver/reimbursement | 167,894 |
Expense waiver/reimbursement from Manager (See Note 3) | (90,499) |
Net expenses | 77,395 |
Net investment income (loss) | 169,523 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on unaffiliated investments | 29,411 |
Net change in unrealized appreciation (depreciation) on unaffiliated investments | (878,389) |
Net realized and unrealized gain (loss) | (848,978) |
Net increase (decrease) in net assets resulting from operations | $(679,455) |
for the year ended April 30, 2022 and the period June 30, 2020 (inception date) throughApril 30, 2021
2022 | 2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $169,523 | $99,181 |
Net realized gain (loss) | 29,411 | 26,414 |
Net change in unrealized appreciation (depreciation) | (878,389) | 215,433 |
Net increase (decrease) in net assets resulting from operations | (679,455) | 341,028 |
Distributions to shareholders: | ||
Class A | (248,280) | (62,743) |
Class C | (2,845) | (988) |
Class I | (1,116) | (23,793) |
Class R3 | (758) | (193) |
SIMPLE Class | (3,645) | (265) |
Total distributions to shareholders | (256,644) | (87,982) |
Capital share transactions: | ||
Net proceeds from sales of shares | 5,073,474 | 12,883,529 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 254,651 | 82,561 |
Cost of shares redeemed | (5,451,399) | (2,338,575) |
Increase (decrease) in net assets derived from capital share transactions | (123,274) | 10,627,515 |
Net increase (decrease) in net assets | (1,059,373) | 10,880,561 |
Net Assets | ||
Beginning of year | 10,880,561 | — |
End of year | $9,821,188 | $10,880,561 |
16 | MainStay Defensive ETF Allocation Fund |
Year Ended April 30, | June 30, 2020^ through April 30, | |
Class A | 2022 | 2021 |
Net asset value at beginning of year | $10.44 | $10.00 |
Net investment income (loss) (a) | 0.18 | 0.13 |
Net realized and unrealized gain (loss) | (0.84) | 0.41 |
Total from investment operations | (0.66) | 0.54 |
Less distributions: | ||
From net investment income | (0.19) | (0.10) |
From net realized gain on investments | (0.09) | — |
Total distributions | (0.28) | (0.10) |
Net asset value at end of year | $9.50 | $10.44 |
Total investment return (b) | (6.49)% | 5.38% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 1.79% | 1.45%†† |
Net expenses (c) | 0.80% | 0.80%†† |
Expenses (before waiver/reimbursement) (c) | 1.75% | 2.36%†† |
Portfolio turnover rate | 79% | 69% |
Net assets at end of year (in 000’s) | $9,366 | $8,572 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Year Ended April 30, | June 30, 2020^ through April 30, | |
Class C | 2022 | 2021 |
Net asset value at beginning of year | $10.44 | $10.00 |
Net investment income (loss) (a) | 0.11 | 0.06 |
Net realized and unrealized gain (loss) | (0.85) | 0.43 |
Total from investment operations | (0.74) | 0.49 |
Less distributions: | ||
From net investment income | (0.12) | (0.05) |
From net realized gain on investments | (0.09) | — |
Total distributions | (0.21) | (0.05) |
Net asset value at end of year | $9.49 | $10.44 |
Total investment return (b) | (7.28)% | 4.85% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 1.07% | 0.74%†† |
Net expenses (c) | 1.55% | 1.55%†† |
Expenses (before waiver/reimbursement) (c) | 2.60% | 3.13%†† |
Portfolio turnover rate | 79% | 69% |
Net assets at end of year (in 000’s) | $117 | $162 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Year Ended April 30, | June 30, 2020^ through April 30, | |
Class I | 2022 | 2021 |
Net asset value at beginning of year | $10.44 | $10.00 |
Net investment income (loss) (a) | 0.24 | 0.16 |
Net realized and unrealized gain (loss) | (0.87) | 0.40 |
Total from investment operations | (0.63) | 0.56 |
Less distributions: | ||
From net investment income | (0.22) | (0.12) |
From net realized gain on investments | (0.09) | — |
Total distributions | (0.31) | (0.12) |
Net asset value at end of year | $9.50 | $10.44 |
Total investment return (b) | (6.25)% | 5.65% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 2.33% | 1.82%†† |
Net expenses (c) | 0.55% | 0.55%†† |
Expenses (before waiver/reimbursement) (c) | 1.50% | 2.11%†† |
Portfolio turnover rate | 79% | 69% |
Net assets at end of year (in 000’s) | $35 | $2,040 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class I shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
18 | MainStay Defensive ETF Allocation Fund |
Year Ended April 30, | June 30, 2020^ through April 30, | |
Class R3 | 2022 | 2021 |
Net asset value at beginning of year | $10.44 | $10.00 |
Net investment income (loss) (a) | 0.15 | 0.11 |
Net realized and unrealized gain (loss) | (0.85) | 0.41 |
Total from investment operations | (0.70) | 0.52 |
Less distributions: | ||
From net investment income | (0.16) | (0.08) |
From net realized gain on investments | (0.09) | — |
Total distributions | (0.25) | (0.08) |
Net asset value at end of year | $9.49 | $10.44 |
Total investment return (b) | (6.91)% | 5.18% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 1.45% | 1.22%†† |
Net expenses (c) | 1.15% | 1.15%†† |
Expenses (before waiver/reimbursement) (c) | 2.10% | 2.71%†† |
Portfolio turnover rate | 79% | 69% |
Net assets at end of year (in 000’s) | $32 | $26 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R3 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Year Ended April 30, | August 31, 2020^ through April 30, | |
SIMPLE Class | 2022 | 2021 |
Net asset value at beginning of year | $10.44 | $10.26 |
Net investment income (loss) (a) | 0.15 | 0.10 |
Net realized and unrealized gain (loss) | (0.83) | 0.16 |
Total from investment operations | (0.68) | 0.26 |
Less distributions: | ||
From net investment income | (0.17) | (0.08) |
From net realized gain on investments | (0.09) | — |
Total distributions | (0.26) | (0.08) |
Net asset value at end of year | $9.50 | $10.44 |
Total investment return (b) | (6.74)% | 2.56% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 1.45% | 1.13%†† |
Net expenses (c) | 1.05% | 1.05%†† |
Expenses (before waiver/reimbursement) (c) | 2.10% | 2.63%†† |
Portfolio turnover rate | 79% | 69% |
Net assets at end of year (in 000’s) | $271 | $80 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. SIMPLE Class shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
20 | MainStay Defensive ETF Allocation Fund |
Investment and Performance Comparison (Unaudited)
Average Annual Total Returns for the Year-Ended April 30, 2022 | ||||||
Class | Sales Charge | Inception Date | One Year | Since Inception | Gross Expense Ratio1 | |
Class A Shares | Maximum 3% Initial Sales Charge | With sales charges | 6/30/2020 | -8.91% | 1.26% | 1.59% |
Excluding sales charges | -6.09 | 2.96 | 1.59 | |||
Class C Shares | Maximum 1% CDSC | With sales charges | 6/30/2020 | -7.73 | 2.12 | 2.34 |
if redeemed Within One Year of Purchase | Excluding sales charges | -6.81 | 2.12 | 2.34 | ||
Class I Shares | No Sales Charge | 6/30/2020 | -5.86 | 3.16 | 1.34 | |
Class R3 Shares | No Sales Charge | 6/30/2020 | -6.42 | 2.57 | 1.94 | |
SIMPLE Class Shares | No Sales Charge | 8/31/2020 | -6.29 | 0.24 | 1.84 |
1. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
Benchmark Performance* | One Year | Since Inception |
S&P 500® Index1 | 0.21% | 18.70% |
MSCI EAFE® Index (Net)2 | -8.15 | 9.99 |
Bloomberg U.S. Aggregate Bond Index3 | -8.51 | -5.44 |
Conservative Allocation Composite Index4 | -5.74 | 3.08 |
Morningstar Allocation - 30% to 50% Equity Category Average5 | -5.63 | 5.24 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | The S&P 500® Index is the Fund’s primary broad-based securities market index for comparison purposes. S&P 500® is a trademark of The McGraw-Hill Companies, Inc. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
2. | The MSCI EAFE® Index (Net) is the Fund's secondary benchmark. The MSCI EAFE® Index (Net) consists of international stocks representing the developed world outside of North America. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
3. | The Fund has selected the Bloomberg U.S. Aggregate Bond Index as an additional benchmark. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasurys, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities, and commercial mortgage-backed securities. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
4. | The Fund has selected the Conservative Allocation Composite Index as an additional benchmark. The Conservative Allocation Composite Index consists of the S&P 500® Index, the MSCI EAFE® Index (Net) and the Bloomberg U.S. Aggregate Bond Index weighted 30%, 10% and 60%, respectively. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
5. | The Morningstar Allocation – 30% to 50% Equity Category Average is representative of funds that seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds, and cash. These portfolios are dominated by domestic holdings and have equity exposures between 30% and 50%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
22 | MainStay Conservative ETF Allocation Fund |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $911.60 | $3.79 | $1,020.83 | $4.01 | 0.80% |
Class C Shares | $1,000.00 | $908.00 | $7.33 | $1,017.11 | $7.75 | 1.55% |
Class I Shares | $1,000.00 | $911.90 | $2.61 | $1,022.07 | $2.76 | 0.55% |
Class R3 Shares | $1,000.00 | $910.00 | $5.45 | $1,019.09 | $5.76 | 1.15% |
SIMPLE Class Shares | $1,000.00 | $910.50 | $4.97 | $1,019.59 | $5.26 | 1.05% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the six-month period). The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
Asset Diversification as of April 30, 2022 (Unaudited)
Equity Funds | 43.1% |
Fixed Income Funds | 55.2 |
Short-Term Investments | 20.9 |
Other Assets, Less Liabilities | (19.2) |
24 | MainStay Conservative ETF Allocation Fund |
26 | MainStay Conservative ETF Allocation Fund |
Shares | Value | |
Investment Companies 98.3% | ||
Equity Funds 43.1% | ||
Health Care Select Sector SPDR Fund | 1,283 | $ 167,162 |
Invesco S&P 500 Low Volatility ETF (a) | 7,732 | 505,286 |
iShares Core MSCI EAFE ETF | 44,899 | 2,909,904 |
iShares Core MSCI Emerging Markets ETF | 9,703 | 506,982 |
iShares Core S&P Small-Cap ETF | 16,987 | 1,688,848 |
iShares Semiconductor ETF | 277 | 111,016 |
Schwab U.S. Mid-Cap ETF | 10,871 | 762,492 |
Schwab U.S. Small-Cap ETF | 39,226 | 1,689,856 |
SPDR S&P Oil & Gas Exploration & Production ETF (a) | 1,925 | 253,734 |
VanEck Gold Miners ETF | 8,930 | 312,461 |
VanEck Oil Services ETF (a) | 934 | 246,352 |
Vanguard Mega Cap ETF | 25,188 | 3,629,087 |
Vanguard Mega Cap Value ETF (a) | 8,208 | 838,037 |
Vanguard Mid-Cap ETF (a) | 5,690 | 1,244,744 |
Total Equity Funds (Cost $14,484,562) | 14,865,961 | |
Fixed Income Funds 55.2% | ||
Invesco Senior Loan ETF (a) | 121,646 | 2,622,688 |
iShares 0-5 Year High Yield Corporate Bond ETF (a) | 56,869 | 2,428,875 |
iShares 20+ Year Treasury Bond ETF (a) | 2,929 | 349,869 |
iShares Broad USD High Yield Corporate Bond ETF (a) | 37,125 | 1,375,110 |
iShares Broad USD Investment Grade Corporate Bond ETF (a) | 47,269 | 2,460,824 |
iShares Core U.S. Aggregate Bond ETF | 47,796 | 4,916,774 |
Schwab U.S. Aggregate Bond ETF | 101,438 | 4,916,700 |
Total Fixed Income Funds (Cost $20,808,092) | 19,070,840 | |
Total Investment Companies (Cost $35,292,654) | 33,936,801 | |
Short-Term Investments 20.9% | ||
Affiliated Investment Company 2.7% | ||
MainStay U.S. Government Liquidity Fund, 0.397% (b) | 918,920 | 918,920 |
Unaffiliated Investment Companies 18.2% | ||
BlackRock Liquidity FedFund, 0.375% (b)(c) | 500,000 | 500,000 |
28 | MainStay Conservative ETF Allocation Fund |
Shares | Value | |
Short-Term Investments (continued) | ||
Unaffiliated Investment Companies (continued) | ||
Invesco Government & Agency Portfolio, 0.419% (b)(c) | 5,802,714 | $ 5,802,714 |
Total Unaffiliated Investment Companies (Cost $6,302,714) | 6,302,714 | |
Total Short-Term Investments (Cost $7,221,634) | 7,221,634 | |
Total Investments (Cost $42,514,288) | 119.2% | 41,158,435 |
Other Assets, Less Liabilities | (19.2) | (6,619,864) |
Net Assets | 100.0% | $ 34,538,571 |
† | Percentages indicated are based on Fund net assets. |
(a) | All or a portion of this security was held on loan. As of April 30, 2022, the aggregate market value of securities on loan was $8,326,407; the total market value of collateral held by the Fund was $8,716,848. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $2,414,134. The Fund received cash collateral with a value of $6,302,714. (See Note 2(H)) |
(b) | Current yield as of April 30, 2022. |
(c) | Represents a security purchased with cash collateral received for securities on loan. |
Affiliated Investment Companies | Value, Beginning of Year | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Year | Dividend Income | Other Distributions | Shares End of Year |
MainStay U.S. Government Liquidity Fund | $ 708 | $ 16,342 | $ (16,131) | $ — | $ — | $ 919 | $ —(a) | $ — | 919 |
(a) | Less than $500. |
Abbreviation(s): |
EAFE—Europe, Australasia and Far East |
ETF—Exchange-Traded Fund |
MSCI—Morgan Stanley Capital International |
SPDR—Standard & Poor’s Depositary Receipt |
USD—United States Dollar |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Investment Companies | ||||
Equity Funds | $ 14,865,961 | $ — | $ — | $ 14,865,961 |
Fixed Income Funds | 19,070,840 | — | — | 19,070,840 |
Total Investment Companies | 33,936,801 | — | — | 33,936,801 |
Short-Term Investments | ||||
Affiliated Investment Company | 918,920 | — | — | 918,920 |
Unaffiliated Investment Companies | 6,302,714 | — | — | 6,302,714 |
Total Short-Term Investments | 7,221,634 | — | — | 7,221,634 |
Total Investments in Securities | $ 41,158,435 | $ — | $ — | $ 41,158,435 |
(a) | For a complete listing of investments, see the Portfolio of Investments. |
30 | MainStay Conservative ETF Allocation Fund |
Assets | |
Investment in unaffiliated securities, at value (identified cost $41,595,368) including securities on loan of $8,326,407 | $40,239,515 |
Investment in affiliated investment companies, at value (identified cost $918,920) | 918,920 |
Cash | 58 |
Receivables: | |
Investment securities sold | 173,155 |
Fund shares sold | 98,108 |
Securities lending | 10,340 |
Manager (See Note 3) | 2,870 |
Dividends | 123 |
Other assets | 30,789 |
Total assets | 41,473,878 |
Liabilities | |
Cash collateral received for securities on loan | 6,302,714 |
Payables: | |
Investment securities purchased | 581,587 |
Fund shares redeemed | 26,992 |
NYLIFE Distributors (See Note 3) | 7,758 |
Custodian | 6,556 |
Transfer agent (See Note 3) | 4,864 |
Shareholder communication | 2,346 |
Professional fees | 673 |
Trustees | 2 |
Accrued expenses | 1,815 |
Total liabilities | 6,935,307 |
Net assets | $34,538,571 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $3,381 |
Additional paid-in-capital | 36,235,121 |
36,238,502 | |
Total distributable earnings (loss) | (1,699,931) |
Net assets | $34,538,571 |
Class A | |
Net assets applicable to outstanding shares | $32,925,236 |
Shares of beneficial interest outstanding | 3,222,917 |
Net asset value per share outstanding | $10.22 |
Maximum sales charge (3.00% of offering price) | 0.32 |
Maximum offering price per share outstanding | $10.54 |
Class C | |
Net assets applicable to outstanding shares | $412,787 |
Shares of beneficial interest outstanding | 40,495 |
Net asset value and offering price per share outstanding | $10.19 |
Class I | |
Net assets applicable to outstanding shares | $33,344 |
Shares of beneficial interest outstanding | 3,268 |
Net asset value and offering price per share outstanding | $10.20 |
Class R3 | |
Net assets applicable to outstanding shares | $90,068 |
Shares of beneficial interest outstanding | 8,825 |
Net asset value and offering price per share outstanding | $10.21 |
SIMPLE Class | |
Net assets applicable to outstanding shares | $1,077,136 |
Shares of beneficial interest outstanding | 105,538 |
Net asset value and offering price per share outstanding | $10.21 |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated | $727,947 |
Securities lending | 45,150 |
Dividends-affiliated | 177 |
Total income | 773,274 |
Expenses | |
Distribution/Service—Class A (See Note 3) | 76,642 |
Distribution/Service—Class C (See Note 3) | 4,528 |
Distribution/Service—Class R3 (See Note 3) | 407 |
Distribution/Service—SIMPLE Class (See Note 3) | 3,075 |
Manager (See Note 3) | 63,730 |
Registration | 48,567 |
Professional fees | 44,587 |
Custodian | 17,539 |
Offering (See Note 2) | 16,896 |
Transfer agent (See Note 3) | 12,348 |
Shareholder communication | 1,886 |
Trustees | 375 |
Shareholder service (See Note 3) | 82 |
Miscellaneous | 5,171 |
Total expenses before waiver/reimbursement | 295,833 |
Expense waiver/reimbursement from Manager (See Note 3) | (35,840) |
Net expenses | 259,993 |
Net investment income (loss) | 513,281 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on unaffiliated investments | (90,363) |
Net change in unrealized appreciation (depreciation) on unaffiliated investments | (2,811,868) |
Net realized and unrealized gain (loss) | (2,902,231) |
Net increase (decrease) in net assets resulting from operations | $(2,388,950) |
32 | MainStay Conservative ETF Allocation Fund |
for the year ended April 30, 2022 and the period June 30, 2020 (inception date) throughApril 30, 2021
2022 | 2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $513,281 | $166,661 |
Net realized gain (loss) | (90,363) | (30,925) |
Net change in unrealized appreciation (depreciation) | (2,811,868) | 1,456,015 |
Net increase (decrease) in net assets resulting from operations | (2,388,950) | 1,591,751 |
Distributions to shareholders: | ||
Class A | (713,856) | (142,574) |
Class C | (6,834) | (1,479) |
Class I | (1,541) | (23,570) |
Class R3 | (1,667) | (412) |
SIMPLE Class | (13,388) | (450) |
Total distributions to shareholders | (737,286) | (168,485) |
Capital share transactions: | ||
Net proceeds from sales of shares | 19,899,906 | 28,017,054 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 727,750 | 162,923 |
Cost of shares redeemed | (7,710,201) | (4,855,891) |
Increase (decrease) in net assets derived from capital share transactions | 12,917,455 | 23,324,086 |
Net increase (decrease) in net assets | 9,791,219 | 24,747,352 |
Net Assets | ||
Beginning of year | 24,747,352 | — |
End of year | $34,538,571 | $24,747,352 |
Year Ended April 30, | June 30, 2020^ through April 30, | |
Class A | 2022 | 2021 |
Net asset value at beginning of year | $11.13 | $10.00 |
Net investment income (loss) (a) | 0.18 | 0.11 |
Net realized and unrealized gain (loss) | (0.84) | 1.12 |
Total from investment operations | (0.66) | 1.23 |
Less distributions: | ||
From net investment income | (0.18) | (0.09) |
From net realized gain on investments | (0.07) | (0.01) |
Total distributions | (0.25) | (0.10) |
Net asset value at end of year | $10.22 | $11.13 |
Total investment return (b) | (6.09)% | 12.33% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 1.63% | 1.25%†† |
Net expenses (c) | 0.80% | 0.80%†† |
Expenses (before waiver/reimbursement) (c) | 0.91% | 1.49%†† |
Portfolio turnover rate | 62% | 56% |
Net assets at end of year (in 000’s) | $32,925 | $23,951 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Year Ended April 30, | June 30, 2020^ through April 30, | |
Class C | 2022 | 2021 |
Net asset value at beginning of year | $11.10 | $10.00 |
Net investment income (loss) (a) | 0.10 | 0.05 |
Net realized and unrealized gain (loss) | (0.85) | 1.10 |
Total from investment operations | (0.75) | 1.15 |
Less distributions: | ||
From net investment income | (0.09) | (0.04) |
From net realized gain on investments | (0.07) | (0.01) |
Total distributions | (0.16) | (0.05) |
Net asset value at end of year | $10.19 | $11.10 |
Total investment return (b) | (6.81)% | 11.51% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 0.90% | 0.58%†† |
Net expenses (c) | 1.55% | 1.55%†† |
Expenses (before waiver/reimbursement) (c) | 1.73% | 2.24%†† |
Portfolio turnover rate | 62% | 56% |
Net assets at end of year (in 000’s) | $413 | $472 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
34 | MainStay Conservative ETF Allocation Fund |
Year Ended April 30, | June 30, 2020^ through April 30, | |
Class I | 2022 | 2021 |
Net asset value at beginning of year | $11.13 | $10.00 |
Net investment income (loss) (a) | 0.21 | 0.15 |
Net realized and unrealized gain (loss) | (0.85) | 1.10 |
Total from investment operations | (0.64) | 1.25 |
Less distributions: | ||
From net investment income | (0.22) | (0.11) |
From net realized gain on investments | (0.07) | (0.01) |
Total distributions | (0.29) | (0.12) |
Net asset value at end of year | $10.20 | $11.13 |
Total investment return (b) | (5.86)% | 12.47% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 1.89% | 1.71%†† |
Net expenses (c) | 0.55% | 0.55%†† |
Expenses (before waiver/reimbursement) (c) | 0.66% | 1.24%†† |
Portfolio turnover rate | 62% | 56% |
Net assets at end of year (in 000’s) | $33 | $61 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class I shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Year Ended April 30, | June 30, 2020^ through April 30, | |
Class R3 | 2022 | 2021 |
Net asset value at beginning of year | $11.12 | $10.00 |
Net investment income (loss) (a) | 0.14 | 0.07 |
Net realized and unrealized gain (loss) | (0.84) | 1.12 |
Total from investment operations | (0.70) | 1.19 |
Less distributions: | ||
From net investment income | (0.14) | (0.06) |
From net realized gain on investments | (0.07) | (0.01) |
Total distributions | (0.21) | (0.07) |
Net asset value at end of year | $10.21 | $11.12 |
Total investment return (b) | (6.42)% | 11.96% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 1.29% | 0.79%†† |
Net expenses (c) | 1.15% | 1.15%†† |
Expenses (before waiver/reimbursement) (c) | 1.26% | 1.84%†† |
Portfolio turnover rate | 62% | 56% |
Net assets at end of year (in 000’s) | $90 | $68 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R3 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
36 | MainStay Conservative ETF Allocation Fund |
Year Ended April 30, | August 31, 2020^ through April 30, | |
SIMPLE Class | 2022 | 2021 |
Net asset value at beginning of year | $11.12 | $10.46 |
Net investment income (loss) (a) | 0.14 | 0.08 |
Net realized and unrealized gain (loss) | (0.82) | 0.66 |
Total from investment operations | (0.68) | 0.74 |
Less distributions: | ||
From net investment income | (0.16) | (0.07) |
From net realized gain on investments | (0.07) | (0.01) |
Total distributions | (0.23) | (0.08) |
Net asset value at end of year | $10.21 | $11.12 |
Total investment return (b) | (6.29)% | 7.13% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 1.30% | 0.92%†† |
Net expenses (c) | 1.05% | 1.05%†† |
Expenses (before waiver/reimbursement) (c) | 1.23% | 1.74%†† |
Portfolio turnover rate | 62% | 56% |
Net assets at end of year (in 000’s) | $1,077 | $195 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. SIMPLE Class shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Investment and Performance Comparison (Unaudited)
Average Annual Total Returns for the Year-Ended April 30, 2022 | ||||||
Class | Sales Charge | Inception Date | One Year | Since Inception | Gross Expense Ratio1 | |
Class A Shares | Maximum 3% Initial Sales Charge | With sales charges | 6/30/2020 | -8.43% | 5.03% | 1.12% |
Excluding sales charges | -5.60 | 6.79 | 1.12 | |||
Class C Shares | Maximum 1% CDSC | With sales charges | 6/30/2020 | -7.37 | 5.95 | 1.85 |
if redeemed Within One Year of Purchase | Excluding sales charges | -6.44 | 5.95 | 1.85 | ||
Class I Shares | No Sales Charge | 6/30/2020 | -5.31 | 7.12 | 0.87 | |
Class R3 Shares | No Sales Charge | 6/30/2020 | -5.92 | 6.46 | 1.47 | |
SIMPLE Class Shares | No Sales Charge | 8/31/2020 | -5.89 | 3.08 | 1.35 |
1. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
38 | MainStay Moderate ETF Allocation Fund |
Benchmark Performance* | One Year | Since Inception |
S&P 500® Index1 | 0.21% | 18.70% |
MSCI EAFE® Index (Net)2 | -8.15 | 9.99 |
Bloomberg U.S. Aggregate Bond Index3 | -8.51 | -5.44 |
Moderate Allocation Composite Index4 | -4.42 | 7.48 |
Morningstar Allocation-50% to 70% Equity Category Average5 | -4.42 | 9.84 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | The S&P 500® Index is the Fund’s primary broad-based securities market index for comparison purposes. S&P 500® is a trademark of The McGraw-Hill Companies, Inc. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
2. | The MSCI EAFE® Index (Net) is the Fund's secondary benchmark. The MSCI EAFE® Index (Net) consists of international stocks representing the developed world outside of North America. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
3. | The Fund has selected the Bloomberg U.S. Aggregate Bond Index as an additional benchmark. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasurys, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities, and commercial mortgage-backed securities. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
4. | The Fund has selected the Moderate Allocation Composite Index as an additional benchmark. The Moderate Allocation Composite Index consists of the S&P 500® Index, the MSCI EAFE® Index (Net) and the Bloomberg U.S. Aggregate Bond Index weighted 45%, 15% and 40%, respectively. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
5. | The Morningstar Allocation – 50% to 70% Equity Category Average is representative of funds that seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds, and cash. These portfolios are dominated by domestic holdings and have equity exposures between 50% and 70%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2, 3 |
Class A Shares | $1,000.00 | $903.70 | $3.54 | $1,021.08 | $3.76 | 0.75% |
Class C Shares | $1,000.00 | $899.10 | $7.82 | $1,016.56 | $8.30 | 1.66% |
Class I Shares | $1,000.00 | $905.00 | $2.31 | $1,022.37 | $2.46 | 0.49% |
Class R3 Shares | $1,000.00 | $902.00 | $5.14 | $1,019.39 | $5.46 | 1.09% |
SIMPLE Class Shares | $1,000.00 | $902.30 | $5.14 | $1,019.39 | $5.46 | 1.09% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the six-month period). The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
3. | During the year ended April 30, 2022, the Fund had expense limitations on Total Annual Operating Expenses (See Note 3A) that were lower than the Net Expense Ratios during the six-month period. |
40 | MainStay Moderate ETF Allocation Fund |
Asset Diversification as of April 30, 2022 (Unaudited)
Equity Funds | 63.0% |
Fixed Income Funds | 35.5 |
Short-Term Investments | 17.9 |
Other Assets, Less Liabilities | (16.4) |
42 | MainStay Moderate ETF Allocation Fund |
44 | MainStay Moderate ETF Allocation Fund |
Shares | Value | |
Investment Companies 98.5% | ||
Equity Funds 63.0% | ||
Health Care Select Sector SPDR Fund | 3,362 | $ 438,035 |
Invesco S&P 500 Low Volatility ETF | 20,531 | 1,341,701 |
iShares Core MSCI EAFE ETF | 173,114 | 11,219,518 |
iShares Core MSCI Emerging Markets ETF | 43,993 | 2,298,634 |
iShares Core S&P Small-Cap ETF | 44,596 | 4,433,734 |
iShares Semiconductor ETF | 724 | 290,165 |
Schwab U.S. Mid-Cap ETF | 52,487 | 3,681,438 |
Schwab U.S. Small-Cap ETF | 102,682 | 4,423,541 |
SPDR S&P Oil & Gas Exploration & Production ETF (a) | 5,119 | 674,736 |
VanEck Gold Miners ETF | 23,599 | 825,729 |
VanEck Oil Services ETF (a) | 2,529 | 667,049 |
Vanguard Mega Cap ETF | 128,424 | 18,503,329 |
Vanguard Mega Cap Value ETF | 21,763 | 2,222,002 |
Vanguard Mid-Cap ETF (a) | 27,554 | 6,027,713 |
Total Equity Funds (Cost $56,204,853) | 57,047,324 | |
Fixed Income Funds 35.5% | ||
Invesco Senior Loan ETF (a) | 214,615 | 4,627,099 |
iShares 0-5 Year High Yield Corporate Bond ETF (a) | 97,425 | 4,161,022 |
iShares 20+ Year Treasury Bond ETF (a) | 7,740 | 924,543 |
iShares Broad USD High Yield Corporate Bond ETF (a) | 98,842 | 3,661,108 |
iShares Broad USD Investment Grade Corporate Bond ETF (a) | 71,974 | 3,746,967 |
iShares Core U.S. Aggregate Bond ETF | 73,166 | 7,526,586 |
Schwab U.S. Aggregate Bond ETF (a) | 155,281 | 7,526,470 |
Total Fixed Income Funds (Cost $34,952,752) | 32,173,795 | |
Total Investment Companies (Cost $91,157,605) | 89,221,119 | |
Short-Term Investments 17.9% | ||
Affiliated Investment Company 2.5% | ||
MainStay U.S. Government Liquidity Fund, 0.397% (b) | 2,259,549 | 2,259,549 |
Unaffiliated Investment Companies 15.4% | ||
BlackRock Liquidity FedFund, 0.375% (b)(c) | 3,000,000 | 3,000,000 |
Shares | Value | |
Short-Term Investments (continued) | ||
Unaffiliated Investment Companies (continued) | ||
Invesco Government & Agency Portfolio, 0.419% (b)(c) | 11,010,023 | $ 11,010,023 |
Total Unaffiliated Investment Companies (Cost $14,010,023) | 14,010,023 | |
Total Short-Term Investments (Cost $16,269,572) | 16,269,572 | |
Total Investments (Cost $107,427,177) | 116.4% | 105,490,691 |
Other Assets, Less Liabilities | (16.4) | (14,879,823) |
Net Assets | 100.0% | $ 90,610,868 |
† | Percentages indicated are based on Fund net assets. |
(a) | All or a portion of this security was held on loan. As of April 30, 2022, the aggregate market value of securities on loan was $15,292,025; the total market value of collateral held by the Fund was $15,834,428. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $1,824,405. The Fund received cash collateral with a value of $14,010,023. (See Note 2(H)) |
(b) | Current yield as of April 30, 2022. |
(c) | Represents a security purchased with cash collateral received for securities on loan. |
Affiliated Investment Companies | Value, Beginning of Year | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Year | Dividend Income | Other Distributions | Shares End of Year |
MainStay U.S. Government Liquidity Fund | $ 1,505 | $ 34,739 | $ (33,984) | $ — | $ — | $ 2,260 | $ —(a) | $ — | 2,260 |
(a) | Less than $500. |
Abbreviation(s): |
EAFE—Europe, Australasia and Far East |
ETF—Exchange-Traded Fund |
MSCI—Morgan Stanley Capital International |
SPDR—Standard & Poor’s Depositary Receipt |
USD—United States Dollar |
46 | MainStay Moderate ETF Allocation Fund |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Investment Companies | ||||
Equity Funds | $ 57,047,324 | $ — | $ — | $ 57,047,324 |
Fixed Income Funds | 32,173,795 | — | — | 32,173,795 |
Total Investment Companies | 89,221,119 | — | — | 89,221,119 |
Short-Term Investments | ||||
Affiliated Investment Company | 2,259,549 | — | — | 2,259,549 |
Unaffiliated Investment Companies | 14,010,023 | — | — | 14,010,023 |
Total Short-Term Investments | 16,269,572 | — | — | 16,269,572 |
Total Investments in Securities | $ 105,490,691 | $ — | $ — | $ 105,490,691 |
(a) | For a complete listing of investments, see the Portfolio of Investments. |
Assets | |
Investment in unaffiliated securities, at value (identified cost $105,167,628) including securities on loan of $15,292,025 | $103,231,142 |
Investment in affiliated investment companies, at value (identified cost $2,259,549) | 2,259,549 |
Receivables: | |
Investment securities sold | 456,837 |
Fund shares sold | 114,466 |
Securities lending | 17,484 |
Dividends | 322 |
Other assets | 32,632 |
Total assets | 106,112,432 |
Liabilities | |
Cash collateral received for securities on loan | 14,010,023 |
Due to custodian | 52 |
Payables: | |
Investment securities purchased | 1,423,535 |
NYLIFE Distributors (See Note 3) | 20,254 |
Manager (See Note 3) | 15,248 |
Transfer agent (See Note 3) | 13,573 |
Custodian | 7,156 |
Fund shares redeemed | 5,137 |
Professional fees | 1,011 |
Shareholder communication | 938 |
Trustees | 48 |
Accrued expenses | 4,589 |
Total liabilities | 15,501,564 |
Net assets | $90,610,868 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $8,195 |
Additional paid-in-capital | 93,200,104 |
93,208,299 | |
Total distributable earnings (loss) | (2,597,431) |
Net assets | $90,610,868 |
Class A | |
Net assets applicable to outstanding shares | $86,128,058 |
Shares of beneficial interest outstanding | 7,788,812 |
Net asset value per share outstanding | $11.06 |
Maximum sales charge (3.00% of offering price) | 0.34 |
Maximum offering price per share outstanding | $11.40 |
Class C | |
Net assets applicable to outstanding shares | $389,050 |
Shares of beneficial interest outstanding | 35,361 |
Net asset value and offering price per share outstanding | $11.00 |
Class I | |
Net assets applicable to outstanding shares | $73,073 |
Shares of beneficial interest outstanding | 6,603 |
Net asset value and offering price per share outstanding | $11.07 |
Class R3 | |
Net assets applicable to outstanding shares | $853,744 |
Shares of beneficial interest outstanding | 77,327 |
Net asset value and offering price per share outstanding | $11.04 |
SIMPLE Class | |
Net assets applicable to outstanding shares | $3,166,943 |
Shares of beneficial interest outstanding | 287,107 |
Net asset value and offering price per share outstanding | $11.03 |
48 | MainStay Moderate ETF Allocation Fund |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated | $1,693,938 |
Securities lending | 78,471 |
Dividends-affiliated | 452 |
Total income | 1,772,861 |
Expenses | |
Distribution/Service—Class A (See Note 3) | 191,888 |
Distribution/Service—Class C (See Note 3) | 5,442 |
Distribution/Service—Class R3 (See Note 3) | 3,262 |
Distribution/Service—SIMPLE Class (See Note 3) | 8,389 |
Manager (See Note 3) | 159,396 |
Registration | 62,619 |
Professional fees | 47,351 |
Transfer agent (See Note 3) | 39,233 |
Custodian | 20,643 |
Offering (See Note 2) | 17,229 |
Shareholder communication | 4,907 |
Trustees | 1,685 |
Shareholder service (See Note 3) | 653 |
Miscellaneous | 6,407 |
Total expenses before waiver/reimbursement | 569,104 |
Expense waiver/reimbursement from Manager (See Note 3) | (42) |
Net expenses | 569,062 |
Net investment income (loss) | 1,203,799 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on unaffiliated investments | (597,640) |
Net change in unrealized appreciation (depreciation) on unaffiliated investments | (6,742,990) |
Net realized and unrealized gain (loss) | (7,340,630) |
Net increase (decrease) in net assets resulting from operations | $(6,136,831) |
for the year ended April 30, 2022 and the period June 30, 2020 (inception date) throughApril 30, 2021
2022 | 2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $1,203,799 | $262,753 |
Net realized gain (loss) | (597,640) | (90,057) |
Net change in unrealized appreciation (depreciation) | (6,742,990) | 4,806,504 |
Net increase (decrease) in net assets resulting from operations | (6,136,831) | 4,979,200 |
Distributions to shareholders: | ||
Class A | (1,190,376) | (197,353) |
Class C | (3,546) | (1,749) |
Class I | (1,128) | (19,970) |
Class R3 | (9,056) | (240) |
SIMPLE Class | (22,031) | (758) |
Total distributions to shareholders | (1,226,137) | (220,070) |
Capital share transactions: | ||
Net proceeds from sales of shares | 54,296,195 | 57,643,234 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 1,224,058 | 217,534 |
Cost of shares redeemed | (13,327,228) | (6,839,087) |
Increase (decrease) in net assets derived from capital share transactions | 42,193,025 | 51,021,681 |
Net increase (decrease) in net assets | 34,830,057 | 55,780,811 |
Net Assets | ||
Beginning of year | 55,780,811 | — |
End of year | $90,610,868 | $55,780,811 |
50 | MainStay Moderate ETF Allocation Fund |
Year Ended April 30, | June 30, 2020^ through April 30, | |
Class A | 2022 | 2021 |
Net asset value at beginning of year | $11.88 | $10.00 |
Net investment income (loss) (a) | 0.18 | 0.10 |
Net realized and unrealized gain (loss) | (0.83) | 1.85 |
Total from investment operations | (0.65) | 1.95 |
Less distributions: | ||
From net investment income | (0.15) | (0.06) |
From net realized gain on investments | (0.02) | (0.01) |
Total distributions | (0.17) | (0.07) |
Net asset value at end of year | $11.06 | $11.88 |
Total investment return (b) | (5.60)% | 19.50% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 1.53% | 1.02%†† |
Net expenses (c) | 0.70% | 0.80%†† |
Expenses (before waiver/reimbursement) (c) | 0.70% | 1.04%†† |
Portfolio turnover rate | 58% | 45% |
Net assets at end of year (in 000’s) | $86,128 | $54,345 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Year Ended April 30, | June 30, 2020^ through April 30, | |
Class C | 2022 | 2021 |
Net asset value at beginning of year | $11.83 | $10.00 |
Net investment income (loss) (a) | 0.08 | 0.03 |
Net realized and unrealized gain (loss) | (0.83) | 1.85 |
Total from investment operations | (0.75) | 1.88 |
Less distributions: | ||
From net investment income | (0.06) | (0.04) |
From net realized gain on investments | (0.02) | (0.01) |
Total distributions | (0.08) | (0.05) |
Net asset value at end of year | $11.00 | $11.83 |
Total investment return (b) | (6.44)% | 18.82% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 0.70% | 0.29%†† |
Net expenses (c) | 1.54% | 1.55%†† |
Expenses (before waiver/reimbursement) (c) | 1.54% | 1.77%†† |
Portfolio turnover rate | 58% | 45% |
Net assets at end of year (in 000’s) | $389 | $506 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Year Ended April 30, | June 30, 2020^ through April 30, | |
Class I | 2022 | 2021 |
Net asset value at beginning of year | $11.87 | $10.00 |
Net investment income (loss) (a) | 0.22 | 0.13 |
Net realized and unrealized gain (loss) | (0.83) | 1.84 |
Total from investment operations | (0.61) | 1.97 |
Less distributions: | ||
From net investment income | (0.17) | (0.09) |
From net realized gain on investments | (0.02) | (0.01) |
Total distributions | (0.19) | (0.10) |
Net asset value at end of year | $11.07 | $11.87 |
Total investment return (b) | (5.31)% | 19.79% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 1.83% | 1.40%†† |
Net expenses (c) | 0.45% | 0.55%†† |
Expenses (before waiver/reimbursement) (c) | 0.45% | 0.79%†† |
Portfolio turnover rate | 58% | 45% |
Net assets at end of year (in 000’s) | $73 | $52 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class I shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
52 | MainStay Moderate ETF Allocation Fund |
Year Ended April 30, | June 30, 2020^ through April 30, | |
Class R3 | 2022 | 2021 |
Net asset value at beginning of year | $11.86 | $10.00 |
Net investment income (loss) (a) | 0.15 | 0.07 |
Net realized and unrealized gain (loss) | (0.84) | 1.85 |
Total from investment operations | (0.69) | 1.92 |
Less distributions: | ||
From net investment income | (0.11) | (0.05) |
From net realized gain on investments | (0.02) | (0.01) |
Total distributions | (0.13) | (0.06) |
Net asset value at end of year | $11.04 | $11.86 |
Total investment return (b) | (5.92)% | 19.22% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 1.22% | 0.76%†† |
Net expenses (c) | 1.05% | 1.15%†† |
Expenses (before waiver/reimbursement) (c) | 1.05% | 1.39%†† |
Portfolio turnover rate | 58% | 45% |
Net assets at end of year (in 000’s) | $854 | $403 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R3 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Year Ended April 30, | August 31, 2020^ through April 30, | |
SIMPLE Class | 2022 | 2021 |
Net asset value at beginning of year | $11.85 | $10.66 |
Net investment income (loss) (a) | 0.13 | 0.06 |
Net realized and unrealized gain (loss) | (0.81) | 1.19 |
Total from investment operations | (0.68) | 1.25 |
Less distributions: | ||
From net investment income | (0.12) | (0.05) |
From net realized gain on investments | (0.02) | (0.01) |
Total distributions | (0.14) | (0.06) |
Net asset value at end of year | $11.03 | $11.85 |
Total investment return (b) | (5.89)% | 11.75% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 1.07% | 0.62%†† |
Net expenses (c) | 1.05% | 1.05%†† |
Expenses (before waiver/reimbursement) (c) | 1.05% | 1.27%†† |
Portfolio turnover rate | 58% | 45% |
Net assets at end of year (in 000’s) | $3,167 | $475 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. SIMPLE Class shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
54 | MainStay Moderate ETF Allocation Fund |
Investment and Performance Comparison (Unaudited)
Average Annual Total Returns for the Year-Ended April 30, 2022 | ||||||
Class | Sales Charge | Inception Date | One Year | Since Inception | Gross Expense Ratio1 | |
Class A Shares | Maximum 3% Initial Sales Charge | With sales charges | 6/30/2020 | -8.51% | 9.26% | 1.50% |
Excluding sales charges | -5.69 | 11.09 | 1.50 | |||
Class C Shares | Maximum 1% CDSC | With sales charges | 6/30/2020 | -7.33 | 10.23 | 2.21 |
if redeemed Within One Year of Purchase | Excluding sales charges | -6.40 | 10.23 | 2.21 | ||
Class I Shares | No Sales Charge | 6/30/2020 | -5.41 | 11.37 | 1.25 | |
Class R3 Shares | No Sales Charge | 6/30/2020 | -6.01 | 10.69 | 1.85 | |
SIMPLE Class Shares | No Sales Charge | 8/31/2020 | -5.92 | 6.54 | 1.71 |
1. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
Benchmark Performance* | One Year | Since Inception |
S&P 500® Index1 | 0.21% | 18.70% |
MSCI EAFE® Index (Net)2 | -8.15 | 9.99 |
Bloomberg U.S. Aggregate Bond Index3 | -8.51 | -5.44 |
Growth Allocation Composite Index4 | -3.12 | 11.96 |
Morningstar Allocation-70% to 85% Equity Category Average5 | -5.43 | 11.85 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | The S&P 500® Index is the Fund’s primary broad-based securities market index for comparison purposes. S&P 500® is a trademark of The McGraw-Hill Companies, Inc. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
2. | The MSCI EAFE® Index (Net) is the Fund's secondary benchmark. The MSCI EAFE® Index (Net) consists of international stocks representing the developed world outside of North America. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
3. | The Fund has selected the Bloomberg U.S. Aggregate Bond Index as an additional benchmark. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasurys, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities, and commercial mortgage-backed securities. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
4. | The Fund has selected the Growth Allocation Composite Index as an additional benchmark. The Growth Allocation Composite Index consists of the S&P 500® Index, the MSCI EAFE® Index (Net) and the Bloomberg U.S. Aggregate Bond Index weighted 60%, 20% and 20%, respectively. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
5. | The Morningstar Allocation – 70% to 85% Equity Category Average is representative of funds that seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds, and cash. These portfolios are dominated by domestic holdings and have equity exposures between 70% and 85%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
56 | MainStay Growth ETF Allocation Fund |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2, 3 |
Class A Shares | $1,000.00 | $894.90 | $3.90 | $1,020.68 | $4.16 | 0.83% |
Class C Shares | $1,000.00 | $891.90 | $7.36 | $1,017.01 | $7.85 | 1.57% |
Class I Shares | $1,000.00 | $896.00 | $2.73 | $1,021.92 | $2.91 | 0.58% |
Class R3 Shares | $1,000.00 | $893.70 | $5.49 | $1,018.99 | $5.86 | 1.17% |
SIMPLE Class Shares | $1,000.00 | $893.90 | $4.98 | $1,019.54 | $5.31 | 1.06% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the six-month period). The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
3. | During the year ended April 30, 2022, the Fund had expense limitations on Total Annual Operating Expenses (See Note 3A) that were lower than the Net Expense Ratios during the six-month period. |
Asset Diversification as of April 30, 2022 (Unaudited)
Equity Funds | 83.1% |
Fixed Income Funds | 15.2 |
Short-Term Investments | 13.4 |
Other Assets, Less Liabilities | (11.7) |
58 | MainStay Growth ETF Allocation Fund |
60 | MainStay Growth ETF Allocation Fund |
Shares | Value | |
Investment Companies 98.3% | ||
Equity Funds 83.1% | ||
Health Care Select Sector SPDR Fund | 2,128 | $ 277,257 |
Invesco S&P 500 Low Volatility ETF | 12,977 | 848,047 |
iShares Core MSCI EAFE ETF | 145,534 | 9,432,059 |
iShares Core MSCI Emerging Markets ETF | 38,723 | 2,023,277 |
iShares Core S&P Small-Cap ETF | 28,289 | 2,812,492 |
iShares Semiconductor ETF | 455 | 182,355 |
Schwab U.S. Mid-Cap ETF (a) | 48,740 | 3,418,624 |
Schwab U.S. Small-Cap ETF (a) | 131,271 | 5,655,155 |
SPDR S&P Oil & Gas Exploration & Production ETF (a) | 3,241 | 427,196 |
VanEck Gold Miners ETF | 14,970 | 523,800 |
VanEck Oil Services ETF (a) | 1,601 | 422,280 |
Vanguard Mega Cap ETF | 100,567 | 14,489,693 |
Vanguard Mega Cap Value ETF | 13,757 | 1,404,590 |
Vanguard Mid-Cap ETF | 25,440 | 5,565,254 |
Total Equity Funds (Cost $47,556,716) | 47,482,079 | |
Fixed Income Funds 15.2% | ||
Invesco Senior Loan ETF (a) | 137,233 | 2,958,744 |
iShares 0-5 Year High Yield Corporate Bond ETF (a) | 62,103 | 2,652,419 |
iShares 20+ Year Treasury Bond ETF (a) | 4,906 | 586,022 |
iShares Broad USD High Yield Corporate Bond ETF (a) | 63,037 | 2,334,891 |
iShares Broad USD Investment Grade Corporate Bond ETF | 490 | 25,509 |
iShares Core U.S. Aggregate Bond ETF | 552 | 56,784 |
Schwab U.S. Aggregate Bond ETF (a) | 1,171 | 56,758 |
Total Fixed Income Funds (Cost $9,137,492) | 8,671,127 | |
Total Investment Companies (Cost $56,694,208) | 56,153,206 | |
Short-Term Investments 13.4% | ||
Affiliated Investment Company 2.6% | ||
MainStay U.S. Government Liquidity Fund, 0.397% (b) | 1,513,544 | 1,513,544 |
Unaffiliated Investment Companies 10.8% | ||
BlackRock Liquidity FedFund, 0.375% (b)(c) | 5,000,000 | 5,000,000 |
62 | MainStay Growth ETF Allocation Fund |
Shares | Value | |
Short-Term Investments (continued) | ||
Unaffiliated Investment Companies (continued) | ||
Invesco Government & Agency Portfolio, 0.419% (b)(c) | 1,147,575 | $ 1,147,575 |
Total Unaffiliated Investment Companies (Cost $6,147,575) | 6,147,575 | |
Total Short-Term Investments (Cost $7,661,119) | 7,661,119 | |
Total Investments (Cost $64,355,327) | 111.7% | 63,814,325 |
Other Assets, Less Liabilities | (11.7) | (6,664,323) |
Net Assets | 100.0% | $ 57,150,002 |
† | Percentages indicated are based on Fund net assets. |
(a) | All or a portion of this security was held on loan. As of April 30, 2022, the aggregate market value of securities on loan was $7,886,535; the total market value of collateral held by the Fund was $8,165,960. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $2,018,385. The Fund received cash collateral with a value of $6,147,575. (See Note 2(H)) |
(b) | Current yield as of April 30, 2022. |
(c) | Represents a security purchased with cash collateral received for securities on loan. |
Affiliated Investment Companies | Value, Beginning of Year | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Year | Dividend Income | Other Distributions | Shares End of Year |
MainStay U.S. Government Liquidity Fund | $ 940 | $ 17,378 | $ (16,804) | $ — | $ — | $ 1,514 | $ —(a) | $ — | 1,514 |
(a) | Less than $500. |
Abbreviation(s): |
EAFE—Europe, Australasia and Far East |
ETF—Exchange-Traded Fund |
MSCI—Morgan Stanley Capital International |
SPDR—Standard & Poor’s Depositary Receipt |
USD—United States Dollar |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Investment Companies | ||||
Equity Funds | $ 47,482,079 | $ — | $ — | $ 47,482,079 |
Fixed Income Funds | 8,671,127 | — | — | 8,671,127 |
Total Investment Companies | 56,153,206 | — | — | 56,153,206 |
Short-Term Investments | ||||
Affiliated Investment Company | 1,513,544 | — | — | 1,513,544 |
Unaffiliated Investment Companies | 6,147,575 | — | — | 6,147,575 |
Total Short-Term Investments | 7,661,119 | — | — | 7,661,119 |
Total Investments in Securities | $ 63,814,325 | $ — | $ — | $ 63,814,325 |
(a) | For a complete listing of investments, see the Portfolio of Investments. |
64 | MainStay Growth ETF Allocation Fund |
Assets | |
Investment in unaffiliated securities, at value (identified cost $62,841,783) including securities on loan of $7,886,535 | $62,300,781 |
Investment in affiliated investment companies, at value (identified cost $1,513,544) | 1,513,544 |
Receivables: | |
Investment securities sold | 287,657 |
Fund shares sold | 123,182 |
Securities lending | 14,852 |
Manager (See Note 3) | 2,652 |
Dividends | 214 |
Other assets | 31,785 |
Total assets | 64,274,667 |
Liabilities | |
Cash collateral received for securities on loan | 6,147,575 |
Due to custodian | 13 |
Payables: | |
Investment securities purchased | 937,125 |
Transfer agent (See Note 3) | 13,314 |
NYLIFE Distributors (See Note 3) | 13,140 |
Custodian | 6,779 |
Fund shares redeemed | 1,882 |
Shareholder communication | 1,682 |
Professional fees | 806 |
Trustees | 16 |
Accrued expenses | 2,333 |
Total liabilities | 7,124,665 |
Net assets | $57,150,002 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $4,794 |
Additional paid-in-capital | 57,975,503 |
57,980,297 | |
Total distributable earnings (loss) | (830,295) |
Net assets | $57,150,002 |
Class A | |
Net assets applicable to outstanding shares | $52,474,803 |
Shares of beneficial interest outstanding | 4,401,830 |
Net asset value per share outstanding | $11.92 |
Maximum sales charge (3.00% of offering price) | 0.37 |
Maximum offering price per share outstanding | $12.29 |
Class C | |
Net assets applicable to outstanding shares | $310,432 |
Shares of beneficial interest outstanding | 26,169 |
Net asset value and offering price per share outstanding | $11.86 |
Class I | |
Net assets applicable to outstanding shares | $40,483 |
Shares of beneficial interest outstanding | 3,405 |
Net asset value and offering price per share outstanding | $11.89 |
Class R3 | |
Net assets applicable to outstanding shares | $485,922 |
Shares of beneficial interest outstanding | 40,829 |
Net asset value and offering price per share outstanding | $11.90 |
SIMPLE Class | |
Net assets applicable to outstanding shares | $3,838,362 |
Shares of beneficial interest outstanding | 322,239 |
Net asset value and offering price per share outstanding | $11.91 |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated | $977,325 |
Securities lending | 67,798 |
Dividends-affiliated | 295 |
Total income | 1,045,418 |
Expenses | |
Distribution/Service—Class A (See Note 3) | 111,099 |
Distribution/Service—Class C (See Note 3) | 3,137 |
Distribution/Service—Class R3 (See Note 3) | 1,230 |
Distribution/Service—SIMPLE Class (See Note 3) | 12,187 |
Manager (See Note 3) | 94,957 |
Registration | 52,708 |
Transfer agent (See Note 3) | 47,151 |
Professional fees | 45,549 |
Custodian | 19,717 |
Offering (See Note 2) | 15,851 |
Shareholder communication | 2,975 |
Trustees | 745 |
Shareholder service (See Note 3) | 246 |
Miscellaneous | 5,808 |
Total expenses before waiver/reimbursement | 413,360 |
Expense waiver/reimbursement from Manager (See Note 3) | (24,329) |
Net expenses | 389,031 |
Net investment income (loss) | 656,387 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on unaffiliated investments | (352,275) |
Net change in unrealized appreciation (depreciation) on unaffiliated investments | (4,308,393) |
Net realized and unrealized gain (loss) | (4,660,668) |
Net increase (decrease) in net assets resulting from operations | $(4,004,281) |
66 | MainStay Growth ETF Allocation Fund |
for the year ended April 30, 2022 and the period June 30, 2020 (inception date) throughApril 30, 2021
2022 | 2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $656,387 | $128,051 |
Net realized gain (loss) | (352,275) | 13,861 |
Net change in unrealized appreciation (depreciation) | (4,308,393) | 3,767,391 |
Net increase (decrease) in net assets resulting from operations | (4,004,281) | 3,909,303 |
Distributions to shareholders: | ||
Class A | (591,463) | (87,508) |
Class C | (1,516) | (776) |
Class I | (635) | (22,920) |
Class R3 | (2,146) | (519) |
SIMPLE Class | (28,130) | (1,085) |
Total distributions to shareholders | (623,890) | (112,808) |
Capital share transactions: | ||
Net proceeds from sales of shares | 36,077,108 | 32,361,739 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 623,525 | 112,779 |
Cost of shares redeemed | (6,073,472) | (5,120,001) |
Increase (decrease) in net assets derived from capital share transactions | 30,627,161 | 27,354,517 |
Net increase (decrease) in net assets | 25,998,990 | 31,151,012 |
Net Assets | ||
Beginning of year | 31,151,012 | — |
End of year | $57,150,002 | $31,151,012 |
Year Ended April 30, | June 30, 2020^ through April 30, | |
Class A | 2022 | 2021 |
Net asset value at beginning of year | $12.79 | $10.00 |
Net investment income (loss) (a) | 0.18 | 0.09 |
Net realized and unrealized gain (loss) | (0.89) | 2.76 |
Total from investment operations | (0.71) | 2.85 |
Less distributions: | ||
From net investment income | (0.15) | (0.05) |
From net realized gain on investments | (0.01) | (0.01) |
Total distributions | (0.16) | (0.06) |
Net asset value at end of year | $11.92 | $12.79 |
Total investment return (b) | (5.69)% | 28.56% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 1.41% | 0.90%†† |
Net expenses (c) | 0.80% | 0.80%†† |
Expenses (before waiver/reimbursement) (c) | 0.85% | 1.41%†† |
Portfolio turnover rate | 54% | 47% |
Net assets at end of year (in 000’s) | $52,475 | $29,705 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Year Ended April 30, | June 30, 2020^ through April 30, | |
Class C | 2022 | 2021 |
Net asset value at beginning of year | $12.73 | $10.00 |
Net investment income (loss) (a) | 0.09 | 0.03 |
Net realized and unrealized gain (loss) | (0.90) | 2.74 |
Total from investment operations | (0.81) | 2.77 |
Less distributions: | ||
From net investment income | (0.05) | (0.03) |
From net realized gain on investments | (0.01) | (0.01) |
Total distributions | (0.06) | (0.04) |
Net asset value at end of year | $11.86 | $12.73 |
Total investment return (b) | (6.40)% | 27.72% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 0.67% | 0.28%†† |
Net expenses (c) | 1.55% | 1.55%†† |
Expenses (before waiver/reimbursement) (c) | 1.64% | 2.12%†† |
Portfolio turnover rate | 54% | 47% |
Net assets at end of year (in 000’s) | $310 | $288 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
68 | MainStay Growth ETF Allocation Fund |
Year Ended April 30, | June 30, 2020^ through April 30, | |
Class I | 2022 | 2021 |
Net asset value at beginning of year | $12.75 | $10.00 |
Net investment income (loss) (a) | 0.22 | 0.12 |
Net realized and unrealized gain (loss) | (0.89) | 2.75 |
Total from investment operations | (0.67) | 2.87 |
Less distributions: | ||
From net investment income | (0.18) | (0.11) |
From net realized gain on investments | (0.01) | (0.01) |
Total distributions | (0.19) | (0.12) |
Net asset value at end of year | $11.89 | $12.75 |
Total investment return (b) | (5.41)% | 28.79% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 1.70% | 1.23%†† |
Net expenses (c) | 0.55% | 0.55%†† |
Expenses (before waiver/reimbursement) (c) | 0.60% | 1.16%†† |
Portfolio turnover rate | 54% | 47% |
Net assets at end of year (in 000’s) | $40 | $40 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class I shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Year Ended April 30, | June 30, 2020^ through April 30, | |
Class R3 | 2022 | 2021 |
Net asset value at beginning of year | $12.77 | $10.00 |
Net investment income (loss) (a) | 0.11 | 0.05 |
Net realized and unrealized gain (loss) | (0.87) | 2.76 |
Total from investment operations | (0.76) | 2.81 |
Less distributions: | ||
From net investment income | (0.10) | (0.03) |
From net realized gain on investments | (0.01) | (0.01) |
Total distributions | (0.11) | (0.04) |
Net asset value at end of year | $11.90 | $12.77 |
Total investment return (b) | (6.01)% | 28.16% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 0.83% | 0.48%†† |
Net expenses (c) | 1.15% | 1.15%†† |
Expenses (before waiver/reimbursement) (c) | 1.20% | 1.76%†† |
Portfolio turnover rate | 54% | 47% |
Net assets at end of year (in 000’s) | $486 | $158 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R3 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
70 | MainStay Growth ETF Allocation Fund |
Year Ended April 30, | August 31, 2020^ through April 30, | |
SIMPLE Class | 2022 | 2021 |
Net asset value at beginning of year | $12.78 | $10.86 |
Net investment income (loss) (a) | 0.14 | 0.07 |
Net realized and unrealized gain (loss) | (0.89) | 1.90 |
Total from investment operations | (0.75) | 1.97 |
Less distributions: | ||
From net investment income | (0.11) | (0.04) |
From net realized gain on investments | (0.01) | (0.01) |
Total distributions | (0.12) | (0.05) |
Net asset value at end of year | $11.91 | $12.78 |
Total investment return (b) | (5.92)% | 18.11% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 1.11% | 0.71%†† |
Net expenses (c) | 1.05% | 1.05%†† |
Expenses (before waiver/reimbursement) (c) | 1.14% | 1.62%†† |
Portfolio turnover rate | 54% | 47% |
Net assets at end of year (in 000’s) | $3,838 | $962 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. SIMPLE Class shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Investment and Performance Comparison (Unaudited)
Average Annual Total Returns for the Year-Ended April 30, 2022 | ||||||
Class | Sales Charge | Inception Date | One Year | Since Inception | Gross Expense Ratio1 | |
Class A Shares | Maximum 3% Initial Sales Charge | With sales charges | 6/30/2020 | -10.00% | 12.13% | 1.97% |
Excluding sales charges | -7.21 | 14.00 | 1.97 | |||
Class C Shares | Maximum 1% CDSC | With sales charges | 6/30/2020 | -8.84 | 13.12 | 2.68 |
if redeemed Within One Year of Purchase | Excluding sales charges | -7.92 | 13.12 | 2.68 | ||
Class I Shares | No Sales Charge | 6/30/2020 | -6.96 | 14.29 | 1.72 | |
Class R3 Shares | No Sales Charge | 6/30/2020 | -7.47 | 13.64 | 2.32 | |
SIMPLE Class Shares | No Sales Charge | 8/31/2020 | -7.38 | 8.32 | 2.18 |
1. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
72 | MainStay Equity ETF Allocation Fund |
Benchmark Performance* | One Year | Since Inception |
S&P 500® Index1 | 0.21% | 18.70% |
MSCI EAFE® Index (Net)2 | -8.15 | 9.99 |
Equity Allocation Composite Index3 | -1.87 | 16.53 |
Morningstar Allocation – 85%+ Equity Category Average4 | -8.07 | 13.26 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | The S&P 500® Index is the Fund’s primary broad-based securities market index for comparison purposes. S&P 500® is a trademark of The McGraw-Hill Companies, Inc. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
2. | The MSCI EAFE® Index (Net) is the Fund's secondary benchmark. The MSCI EAFE® Index (Net) consists of international stocks representing the developed world outside of North America. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
3. | The Fund has selected the Equity Allocation Composite Index as an additional benchmark. The Equity Allocation Composite Index consists of the S&P 500® Index and the MSCI EAFE® Index (Net) weighted 75% and 25%, respectively. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
4. | The Morningstar Allocation – 85%+ Equity Category Average is representative of funds that seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds, and cash. These portfolios are dominated by domestic holdings and have equity exposures of over 85%. These funds typically allocate at least 10% to equities of foreign companies and do not exclusively allocate between cash and equities. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $873.50 | $3.72 | $1,020.83 | $4.01 | 0.80% |
Class C Shares | $1,000.00 | $870.10 | $7.19 | $1,017.11 | $7.75 | 1.55% |
Class I Shares | $1,000.00 | $874.90 | $1.58 | $1,023.11 | $1.71 | 0.34% |
Class R3 Shares | $1,000.00 | $872.70 | $5.34 | $1,019.09 | $5.76 | 1.15% |
SIMPLE Class Shares | $1,000.00 | $872.90 | $4.88 | $1,019.59 | $5.26 | 1.05% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the six-month period). The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
74 | MainStay Equity ETF Allocation Fund |
Asset Diversification as of April 30, 2022 (Unaudited)
Equity Funds | 99.3% |
Short-Term Investments | 4.1 |
Other Assets, Less Liabilities | (3.4) |
76 | MainStay Equity ETF Allocation Fund |
Shares | Value | |
Investment Companies 99.3% | ||
Equity Funds 99.3% | ||
Health Care Select Sector SPDR Fund | 1,545 | $ 201,298 |
Invesco S&P 500 Low Volatility ETF | 9,518 | 622,000 |
iShares Core MSCI EAFE ETF | 130,647 | 8,467,232 |
iShares Core MSCI Emerging Markets ETF | 41,101 | 2,147,527 |
iShares Core S&P Small-Cap ETF | 12,593 | 1,251,996 |
iShares Semiconductor ETF | 337 | 135,063 |
Schwab U.S. Mid-Cap ETF | 36,128 | 2,534,018 |
Schwab U.S. Small-Cap ETF (a) | 145,065 | 6,249,400 |
SPDR S&P Oil & Gas Exploration & Production ETF (a) | 2,381 | 313,840 |
VanEck Gold Miners ETF | 2,691 | 94,158 |
VanEck Oil Services ETF (a) | 1,177 | 310,446 |
Vanguard Mega Cap ETF | 97,856 | 14,099,093 |
Vanguard Mega Cap Value ETF | 10,153 | 1,036,621 |
Vanguard Mid-Cap ETF | 18,791 | 4,110,719 |
Total Investment Companies (Cost $42,425,720) | 41,573,411 | |
Short-Term Investments 4.1% | ||
Affiliated Investment Company 0.8% | ||
MainStay U.S. Government Liquidity Fund, 0.397% (b) | 341,965 | 341,965 |
Unaffiliated Investment Company 3.3% | ||
Invesco Government & Agency Portfolio, 0.419% (b)(c) | 1,378,385 | 1,378,385 |
Total Short-Term Investments (Cost $1,720,350) | 1,720,350 | |
Total Investments (Cost $44,146,070) | 103.4% | 43,293,761 |
Other Assets, Less Liabilities | (3.4) | (1,418,972) |
Net Assets | 100.0% | $ 41,874,789 |
† | Percentages indicated are based on Fund net assets. |
(a) | All or a portion of this security was held on loan. As of April 30, 2022, the aggregate market value of securities on loan was $1,311,277. The Fund received cash collateral with a value of $1,378,385. (See Note 2(H)) |
(b) | Current yield as of April 30, 2022. |
(c) | Represents a security purchased with cash collateral received for securities on loan. |
78 | MainStay Equity ETF Allocation Fund |
Affiliated Investment Companies | Value, Beginning of Year | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Year | Dividend Income | Other Distributions | Shares End of Year |
MainStay U.S. Government Liquidity Fund | $ 490 | $ 10,948 | $ (11,096) | $ — | $ — | $ 342 | $ —(a) | $ — | 342 |
(a) | Less than $500. |
Abbreviation(s): |
EAFE—Europe, Australasia and Far East |
ETF—Exchange-Traded Fund |
MSCI—Morgan Stanley Capital International |
SPDR—Standard & Poor’s Depositary Receipt |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Investment Companies | ||||
Equity Funds | $ 41,573,411 | $ — | $ — | $ 41,573,411 |
Short-Term Investments | ||||
Affiliated Investment Company | 341,965 | — | — | 341,965 |
Unaffiliated Investment Company | 1,378,385 | — | — | 1,378,385 |
Total Short-Term Investments | 1,720,350 | — | — | 1,720,350 |
Total Investments in Securities | $ 43,293,761 | $ — | $ — | $ 43,293,761 |
(a) | For a complete listing of investments, see the Portfolio of Investments. |
Assets | |
Investment in unaffiliated securities, at value (identified cost $43,804,105) including securities on loan of $1,311,277 | $42,951,796 |
Investment in affiliated investment companies, at value (identified cost $341,965) | 341,965 |
Receivables: | |
Investment securities sold | 209,845 |
Fund shares sold | 160,803 |
Manager (See Note 3) | 5,181 |
Securities lending | 3,670 |
Dividends | 29 |
Other assets | 42,512 |
Total assets | 43,715,801 |
Liabilities | |
Cash collateral received for securities on loan | 1,378,385 |
Payables: | |
Investment securities purchased | 424,315 |
NYLIFE Distributors (See Note 3) | 9,701 |
Transfer agent (See Note 3) | 9,160 |
Fund shares redeemed | 8,860 |
Custodian | 6,496 |
Shareholder communication | 1,741 |
Professional fees | 685 |
Accrued expenses | 1,669 |
Total liabilities | 1,841,012 |
Net assets | $41,874,789 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $3,340 |
Additional paid-in-capital | 43,078,799 |
43,082,139 | |
Total distributable earnings (loss) | (1,207,350) |
Net assets | $41,874,789 |
Class A | |
Net assets applicable to outstanding shares | $38,162,475 |
Shares of beneficial interest outstanding | 3,043,373 |
Net asset value per share outstanding | $12.54 |
Maximum sales charge (3.00% of offering price) | 0.39 |
Maximum offering price per share outstanding | $12.93 |
Class C | |
Net assets applicable to outstanding shares | $177,394 |
Shares of beneficial interest outstanding | 14,233 |
Net asset value and offering price per share outstanding | $12.46 |
Class I | |
Net assets applicable to outstanding shares | $152,035 |
Shares of beneficial interest outstanding | 12,194 |
Net asset value and offering price per share outstanding | $12.47 |
Class R3 | |
Net assets applicable to outstanding shares | $472,344 |
Shares of beneficial interest outstanding | 37,772 |
Net asset value and offering price per share outstanding | $12.51 |
SIMPLE Class | |
Net assets applicable to outstanding shares | $2,910,541 |
Shares of beneficial interest outstanding | 232,711 |
Net asset value and offering price per share outstanding | $12.51 |
80 | MainStay Equity ETF Allocation Fund |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated | $617,111 |
Securities lending | 29,824 |
Interest | 69 |
Dividends-affiliated | 54 |
Total income | 647,058 |
Expenses | |
Distribution/Service—Class A (See Note 3) | 79,426 |
Distribution/Service—Class C (See Note 3) | 1,906 |
Distribution/Service—Class R3 (See Note 3) | 2,374 |
Distribution/Service—SIMPLE Class (See Note 3) | 9,096 |
Manager (See Note 3) | 69,022 |
Registration | 48,959 |
Professional fees | 44,811 |
Transfer agent (See Note 3) | 31,052 |
Offering (See Note 2) | 15,645 |
Custodian | 15,367 |
Shareholder communication | 1,723 |
Shareholder service (See Note 3) | 475 |
Trustees | 348 |
Miscellaneous | 5,496 |
Total expenses before waiver/reimbursement | 325,700 |
Expense waiver/reimbursement from Manager (See Note 3) | (42,612) |
Net expenses | 283,088 |
Net investment income (loss) | 363,970 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on unaffiliated investments | (332,770) |
Net change in unrealized appreciation (depreciation) on unaffiliated investments | (3,768,943) |
Net realized and unrealized gain (loss) | (4,101,713) |
Net increase (decrease) in net assets resulting from operations | $(3,737,743) |
for the year ended April 30, 2022 and the period June 30, 2020 (inception date) throughApril 30, 2021
2022 | 2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $363,970 | $55,880 |
Net realized gain (loss) | (332,770) | 3,638 |
Net change in unrealized appreciation (depreciation) | (3,768,943) | 2,916,634 |
Net increase (decrease) in net assets resulting from operations | (3,737,743) | 2,976,152 |
Distributions to shareholders: | ||
Class A | (362,336) | (30,721) |
Class C | (590) | (359) |
Class I | (2,163) | (28,319) |
Class R3 | (3,445) | (966) |
SIMPLE Class | (17,161) | (208) |
Total distributions to shareholders | (385,695) | (60,573) |
Capital share transactions: | ||
Net proceeds from sales of shares | 29,127,682 | 22,364,067 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 381,517 | 60,237 |
Cost of shares redeemed | (7,847,877) | (1,002,978) |
Increase (decrease) in net assets derived from capital share transactions | 21,661,322 | 21,421,326 |
Net increase (decrease) in net assets | 17,537,884 | 24,336,905 |
Net Assets | ||
Beginning of year | 24,336,905 | — |
End of year | $41,874,789 | $24,336,905 |
82 | MainStay Equity ETF Allocation Fund |
Year Ended April 30, | June 30, 2020^ through April 30, | |
Class A | 2022 | 2021 |
Net asset value at beginning of period | $13.64 | $10.00 |
Net investment income (loss) (a) | 0.15 | 0.07 |
Net realized and unrealized gain (loss) | (1.10) | 3.62 |
Total from investment operations | (0.95) | 3.69 |
Less distributions: | ||
From net investment income | (0.14) | (0.04) |
From net realized gain on investments | (0.01) | (0.01) |
Total distributions | (0.15) | (0.05) |
Net asset value at end of period | $12.54 | $13.64 |
Total investment return (b) | (7.21)% | 37.04% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 1.08% | 0.63%†† |
Net expenses (c) | 0.80% | 0.80%†† |
Expenses (before waiver/reimbursement) (c) | 0.92% | 1.90%†† |
Portfolio turnover rate | 43% | 24% |
Net assets at end of period (in 000’s) | $38,162 | $20,221 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Year Ended April 30, | June 30, 2020^ through April 30, | |
Class C | 2022 | 2021 |
Net asset value at beginning of period | $13.57 | $10.00 |
Net investment income (loss) (a) | 0.05 | (0.02) |
Net realized and unrealized gain (loss) | (1.11) | 3.63 |
Total from investment operations | (1.06) | 3.61 |
Less distributions: | ||
From net investment income | (0.04) | (0.03) |
From net realized gain on investments | (0.01) | (0.01) |
Total distributions | (0.05) | (0.04) |
Net asset value at end of period | $12.46 | $13.57 |
Total investment return (b) | (7.92)% | 36.13% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 0.38% | (0.20)%†† |
Net expenses (c) | 1.55% | 1.55%†† |
Expenses (before waiver/reimbursement) (c) | 1.75% | 2.61%†† |
Portfolio turnover rate | 43% | 24% |
Net assets at end of period (in 000’s) | $177 | $175 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Year Ended April 30, | June 30, 2020^ through April 30, | |
Class I | 2022 | 2021 |
Net asset value at beginning of period | $13.56 | $10.00 |
Net investment income (loss) (a) | 0.07 | 0.08 |
Net realized and unrealized gain (loss) | (0.98) | 3.62 |
Total from investment operations | (0.91) | 3.70 |
Less distributions: | ||
From net investment income | (0.17) | (0.13) |
From net realized gain on investments | (0.01) | (0.01) |
Total distributions | (0.18) | (0.14) |
Net asset value at end of period | $12.47 | $13.56 |
Total investment return (b) | (6.96)% | 37.30% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 0.49% | 0.80%†† |
Net expenses (c) | 0.48% | 0.55%†† |
Expenses (before waiver/reimbursement) (c) | 0.60% | 1.65%†† |
Portfolio turnover rate | 43% | 24% |
Net assets at end of period (in 000’s) | $152 | $2,684 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class I shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
84 | MainStay Equity ETF Allocation Fund |
Year Ended April 30, | June 30, 2020^ through April 30, | |
Class R3 | 2022 | 2021 |
Net asset value at beginning of period | $13.61 | $10.00 |
Net investment income (loss) (a) | 0.10 | 0.04 |
Net realized and unrealized gain (loss) | (1.10) | 3.62 |
Total from investment operations | (1.00) | 3.66 |
Less distributions: | ||
From net investment income | (0.09) | (0.04) |
From net realized gain on investments | (0.01) | (0.01) |
Total distributions | (0.10) | (0.05) |
Net asset value at end of period | $12.51 | $13.61 |
Total investment return (b) | (7.47)% | 36.62% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 0.74% | 0.39%†† |
Net expenses (c) | 1.15% | 1.15%†† |
Expenses (before waiver/reimbursement) (c) | 1.27% | 2.25%†† |
Portfolio turnover rate | 43% | 24% |
Net assets at end of period (in 000’s) | $472 | $445 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R3 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
Year Ended April 30, | August 31, 2020^ through April 30, | |
SIMPLE Class | 2022 | 2021 |
Net asset value at beginning of period | $13.61 | $11.08 |
Net investment income (loss) (a) | 0.11 | 0.06 |
Net realized and unrealized gain (loss) | (1.10) | 2.52 |
Total from investment operations | (0.99) | 2.58 |
Less distributions: | ||
From net investment income | (0.10) | (0.04) |
From net realized gain on investments | (0.01) | (0.01) |
Total distributions | (0.11) | (0.05) |
Net asset value at end of period | $12.51 | $13.61 |
Total investment return (b) | (7.38)% | 23.32% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 0.78% | 0.51%†† |
Net expenses (c) | 1.05% | 1.05%†† |
Expenses (before waiver/reimbursement) (c) | 1.25% | 2.11%†† |
Portfolio turnover rate | 43% | 24% |
Net assets at end of period (in 000’s) | $2,911 | $811 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. SIMPLE Class shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
86 | MainStay Equity ETF Allocation Fund |
Investment and Performance Comparison (Unaudited)
Average Annual Total Returns for the Period-Ended April 30, 2022 | |||||
Class | Sales Charge | Inception Date | Since Inception1 | Gross Expense Ratio2 | |
Class A Shares | Maximum 3% Initial Sales Charge | With sales charges | 9/30/2021 | -10.75% | 1.34% |
Excluding sales charges | -7.99 | 1.34 | |||
Class C Shares | Maximum 1% CDSC | With sales charges | 9/30/2021 | -9.26 | 2.09 |
if redeemed Within One Year of Purchase | Excluding sales charges | -8.37 | 2.09 | ||
Class I Shares | No Sales Charge | 9/30/2021 | -7.83 | 1.09 | |
Class R3 Shares | No Sales Charge | 9/30/2021 | -8.17 | 1.69 | |
SIMPLE Class Shares | No Sales Charge | 9/30/2021 | -8.15 | 1.59 |
1. | Not annualized. |
2. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
Benchmark Performance* | Since Inception1 |
S&P 500® Index2 | -3.32% |
MSCI EAFE® Index (Net)3 | -9.63 |
Bloomberg U.S. Aggregate Bond Index4 | -9.49 |
Multi-Asset Allocation Composite Index5 | -6.62 |
Morningstar Allocation - 50% to 70% Equity Category Average6 | -5.54 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | Not annualized. |
2. | The S&P 500® Index is the Fund’s primary broad-based securities market index for comparison purposes. S&P 500® is a trademark of The McGraw-Hill Companies, Inc. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
3. | The MSCI EAFE® Index (Net) is the Fund's secondary benchmark. The MSCI EAFE® Index (Net) consists of international stocks representing the developed world outside of North America. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
4. | The Fund has selected the Bloomberg U.S. Aggregate Bond Index as an additional benchmark. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the performance of the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasurys, government-related and corporate securities, mortgage-backed securities (agency fixed-rate and hybrid adjustable rate mortgage pass-throughs), asset-backed securities, and commercial mortgage-backed securities. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
5. | The Fund has selected the Multi-Asset Allocation Composite Index as an additional benchmark. The Multi-Asset Allocation Composite Index consists of the S&P 500® Index, the MSCI EAFE® Index (Net) and the Bloomberg U.S. Aggregate Bond Index weighted 45%, 15% and 40%, respectively. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
6. | The Morningstar Allocation – 50% to 70% Equity Category Average is representative of funds that seek to provide both income and capital appreciation by investing in multiple asset classes, including stocks, bonds, and cash. These portfolios are dominated by domestic holdings and have equity exposures between 50% and 70%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
88 | MainStay ESG Multi-Asset Allocation Fund |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $892.40 | $3.75 | $1,020.83 | $4.01 | 0.80% |
Class C Shares | $1,000.00 | $889.70 | $7.26 | $1,017.11 | $7.75 | 1.55% |
Class I Shares | $1,000.00 | $894.00 | $2.58 | $1,022.07 | $2.76 | 0.55% |
Class R3 Shares | $1,000.00 | $890.70 | $5.39 | $1,019.09 | $5.76 | 1.15% |
SIMPLE Class Shares | $1,000.00 | $890.90 | $4.92 | $1,019.59 | $5.26 | 1.05% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the since-inception period) . The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the Underlying Funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
Asset Diversification as of April 30, 2022 (Unaudited)
Unaffiliated Investment Companies | 95.0% |
Affiliated Investment Companies | 2.1 |
Short-Term Investments | 3.5 |
Other Assets, Less Liabilities | (0.6) |
90 | MainStay ESG Multi-Asset Allocation Fund |
92 | MainStay ESG Multi-Asset Allocation Fund |
Shares | Value | |
Affiliated Investment Companies 2.1% | ||
Equity Funds 2.1% | ||
IQ Candriam ESG International Equity ETF | 5,880 | $ 151,761 |
IQ Candriam ESG U.S. Equity ETF | 2,056 | 73,070 |
Total Affiliated Investment Companies (Cost $244,101) | 224,831 | |
Unaffiliated Investment Companies 95.0% | ||
Equity Funds 82.6% | ||
iShares ESG Advanced MSCI EAFE ETF | 972 | 54,704 |
iShares ESG Aware 1-5 Year USD Corporate Bond ETF | 14,038 | 340,281 |
iShares ESG Aware MSCI EM ETF | 5,679 | 194,960 |
iShares ESG Aware MSCI USA Small-Cap ETF | 6,395 | 222,034 |
iShares ESG Aware US Aggregate Bond ETF | 16,689 | 826,606 |
iShares ESG MSCI EM Leaders ETF | 680 | 34,129 |
iShares ESG Screened S&P 500 ETF | 46,819 | 1,455,650 |
iShares MSCI USA ESG Select ETF | 951 | 84,230 |
iShares Trust iShares ESG Advanced High Yield | 20,472 | 947,239 |
iShares Trust iShares ESG Aware MSCI EAFE ETF | 14,824 | 1,023,894 |
Nuveen ESG High Yield Corporate Bond ETF | 10,662 | 234,937 |
Nuveen ESG International Devel | 2,226 | 60,191 |
Nuveen ESG Large-Cap Value ETF | 15,535 | 559,726 |
Nuveen ESG Mid-Cap Growth ETF | 11,251 | 430,913 |
Nuveen ESG Mid-Cap Value ETF | 20,656 | 700,526 |
Nuveen ESG Small-Cap ETF | 22,088 | 806,875 |
SPDR S&P 500 ESG ETF | 15,285 | 601,465 |
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF | 1,219 | 35,380 |
Total Equity Funds (Cost $9,444,223) | 8,613,740 | |
Fixed Income Funds 12.4% | ||
iShares ESG Advanced Total USD Bond Market ETF | 10,146 | 452,511 |
Nuveen ESG US Aggregate Bond ETF | 17,864 | 413,373 |
Vanguard ESG U.S. Corporate Bond ETF | 6,666 | 426,691 |
Total Fixed Income Funds (Cost $1,357,497) | 1,292,575 | |
Total Unaffiliated Investment Companies (Cost $10,801,720) | 9,906,315 |
94 | MainStay ESG Multi-Asset Allocation Fund |
Shares | Value | |
Short-Term Investment 3.5% | ||
Affiliated Investment Company 3.5% | ||
MainStay U.S. Government Liquidity Fund, 0.397% (a) | 362,253 | $ 362,253 |
Total Short-Term Investment (Cost $362,253) | 3.5% | 362,253 |
Total Investments (Cost $11,408,074) | 100.6% | 10,493,399 |
Other Assets, Less Liabilities | (0.6) | (60,923) |
Net Assets | 100.0% | $ 10,432,476 |
† | Percentages indicated are based on Fund net assets. |
(a) | Current yield as of April 30, 2022. |
Affiliated Investment Companies | Value, Beginning of Period | Purchases at Cost | Proceeds from Sales | Net Realized Gain/(Loss) on Sales | Change in Unrealized Appreciation/ (Depreciation) | Value, End of Period | Dividend Income | Other Distributions | Shares End of Period |
IQ Candriam ESG International Equity ETF | $ — | $ 485 | $ (290) | $ (29) | $ (14) | $ 152 | $ 3 | $ — | 6 |
IQ Candriam ESG U.S. Equity ETF | — | 858 | (768) | (12) | (5) | 73 | 2 | — | 2 |
MainStay U.S. Government Liquidity Fund | — | 3,753 | (3,391) | — | — | 362 | —(a) | — | 362 |
$— | $5,096 | $(4,449) | $(41) | $(19) | $587 | $5 | $— |
(a) | Less than $500. |
Abbreviation(s): |
EAFE—Europe, Australasia and Far East |
EM—Emerging Markets |
ETF—Exchange-Traded Fund |
MSCI—Morgan Stanley Capital International |
SPDR—Standard & Poor’s Depositary Receipt |
USD—United States Dollar |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Affiliated Investment Companies | ||||
Equity Funds | $ 224,831 | $ — | $ — | $ 224,831 |
Unaffiliated Investment Companies | ||||
Equity Funds | 8,613,740 | — | — | 8,613,740 |
Fixed Income Funds | 1,292,575 | — | — | 1,292,575 |
Total Unaffiliated Investment Companies | 9,906,315 | — | — | 9,906,315 |
Short-Term Investment | ||||
Affiliated Investment Company | 362,253 | — | — | 362,253 |
Total Investments in Securities | $ 10,493,399 | $ — | $ — | $ 10,493,399 |
(a) | For a complete listing of investments, see the Portfolio of Investments. |
96 | MainStay ESG Multi-Asset Allocation Fund |
Assets | |
Investment in unaffiliated securities, at value (identified cost $10,801,720) | $9,906,315 |
Investment in affiliated investment companies, at value (identified cost $606,354) | 587,084 |
Receivables: | |
Investment securities sold | 52,580 |
Manager (See Note 3) | 18,578 |
Fund shares sold | 797 |
Dividends | 50 |
Other assets | 46,514 |
Total assets | 10,611,918 |
Liabilities | |
Payables: | |
Investment securities purchased | 154,563 |
Transfer agent (See Note 3) | 12,309 |
Custodian | 5,816 |
Professional fees | 1,881 |
Shareholder communication | 638 |
NYLIFE Distributors (See Note 3) | 301 |
Trustees | 164 |
Accrued expenses | 3,770 |
Total liabilities | 179,442 |
Net assets | $10,432,476 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $1,162 |
Additional paid-in-capital | 11,616,170 |
11,617,332 | |
Total distributable earnings (loss) | (1,184,856) |
Net assets | $10,432,476 |
Class A | |
Net assets applicable to outstanding shares | $1,160,837 |
Shares of beneficial interest outstanding | 129,429 |
Net asset value per share outstanding | $8.97 |
Maximum sales charge (3.00% of offering price) | 0.28 |
Maximum offering price per share outstanding | $9.25 |
Class C | |
Net assets applicable to outstanding shares | $22,903 |
Shares of beneficial interest outstanding | 2,560 |
Net asset value and offering price per share outstanding | $8.95 |
Class I | |
Net assets applicable to outstanding shares | $9,134,508 |
Shares of beneficial interest outstanding | 1,017,466 |
Net asset value and offering price per share outstanding | $8.98 |
Class R3 | |
Net assets applicable to outstanding shares | $39,946 |
Shares of beneficial interest outstanding | 4,458 |
Net asset value and offering price per share outstanding | $8.96 |
SIMPLE Class | |
Net assets applicable to outstanding shares | $74,282 |
Shares of beneficial interest outstanding | 8,287 |
Net asset value and offering price per share outstanding | $8.96 |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated | $113,171 |
Dividends-affiliated | 5,313 |
Total income | 118,484 |
Expenses | |
Offering (See Note 2) | 55,889 |
Professional fees | 21,149 |
Registration | 17,801 |
Manager (See Note 3) | 12,527 |
Transfer agent (See Note 3) | 12,527 |
Custodian | 8,383 |
Distribution/Service—Class A (See Note 3) | 1,108 |
Distribution/Service—Class C (See Note 3) | 145 |
Distribution/Service—Class R3 (See Note 3) | 108 |
Distribution/Service—SIMPLE Class (See Note 3) | 104 |
Shareholder communication | 1,234 |
Trustees | 326 |
Shareholder service (See Note 3) | 22 |
Miscellaneous | 4,659 |
Total expenses before waiver/reimbursement | 135,982 |
Expense waiver/reimbursement from Manager (See Note 3) | (100,047) |
Net expenses | 35,935 |
Net investment income (loss) | 82,549 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on: | |
Unaffiliated investments | (26,010) |
Affiliated investments | (40,792) |
Net realized gain (loss) | (66,802) |
Net change in unrealized appreciation (depreciation) on: | |
Unaffiliated investments | (895,405) |
Affiliated investments | (19,270) |
Net change in unrealized appreciation (depreciation) | (914,675) |
Net realized and unrealized gain (loss) | (981,477) |
Net increase (decrease) in net assets resulting from operations | $(898,928) |
98 | MainStay ESG Multi-Asset Allocation Fund |
for the period September 30, 2021 (inception date) through April 30, 2022
2022 | |
Increase (Decrease) in Net Assets | |
Operations: | |
Net investment income (loss) | $82,549 |
Net realized gain (loss) | (66,802) |
Net change in unrealized appreciation (depreciation) | (914,675) |
Net increase (decrease) in net assets resulting from operations | (898,928) |
Distributions to shareholders: | |
Class A | (18,787) |
Class C | (605) |
Class I | (265,161) |
Class R3 | (1,096) |
SIMPLE Class | (637) |
Total distributions to shareholders | (286,286) |
Capital share transactions: | |
Net proceeds from sales of shares | 11,393,208 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 286,286 |
Cost of shares redeemed | (61,804) |
Increase (decrease) in net assets derived from capital share transactions | 11,617,690 |
Net increase (decrease) in net assets | 10,432,476 |
Net Assets | |
Beginning of period | — |
End of period | $10,432,476 |
September 30, 2021^ through April 30, | |
Class A | 2022 |
Net asset value at beginning of period | $10.00 |
Net investment income (loss) (a) | 0.05 |
Net realized and unrealized gain (loss) | (0.82) |
Total from investment operations | (0.77) |
Less distributions: | |
From net investment income | (0.26) |
From net realized gain on investments | (0.00)‡ |
Net asset value at end of period | $8.97 |
Total investment return (b) | (7.99)% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 0.93% |
Net expenses††(c) | 0.80% |
Expenses (before waiver/reimbursement)††(c) | 2.40% |
Portfolio turnover rate | 70% |
Net assets at end of period (in 000’s) | $1,161 |
^ | Inception date. |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
September 30, 2021 through April 30, | |
Class C | 2022 |
Net asset value at beginning of period | $10.00 |
Net investment income (loss) (a) | 0.02 |
Net realized and unrealized gain (loss) | (0.83) |
Total from investment operations | (0.81) |
Less distributions: | |
From net investment income | (0.24) |
From net realized gain on investments | (0.00)‡ |
Net asset value at end of period | $8.95 |
Total investment return (b) | (8.37)% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 0.36% |
Net expenses††(c) | 1.55% |
Expenses (before waiver/reimbursement)††(c) | 3.15% |
Portfolio turnover rate | 70% |
Net assets at end of period (in 000’s) | $23 |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
100 | MainStay ESG Multi-Asset Allocation Fund |
September 30, 2021 through April 30, | |
Class I | 2022 |
Net asset value at beginning of period | $10.00 |
Net investment income (loss) (a) | 0.08 |
Net realized and unrealized gain (loss) | (0.84) |
Total from investment operations | (0.76) |
Less distributions: | |
From net investment income | (0.26) |
From net realized gain on investments | (0.00)‡ |
Net asset value at end of period | $8.98 |
Total investment return (b) | (7.83)% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 1.36% |
Net expenses††(c) | 0.55% |
Expenses (before waiver/reimbursement)††(c) | 2.15% |
Portfolio turnover rate | 70% |
Net assets at end of period (in 000’s) | $9,135 |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
September 30, 2021 through April 30, | |
Class R3 | 2022 |
Net asset value at beginning of period | $10.00 |
Net investment income (loss) (a) | 0.03 |
Net realized and unrealized gain (loss) | (0.82) |
Total from investment operations | (0.79) |
Less distributions: | |
From net investment income | (0.25) |
From net realized gain on investments | (0.00)‡ |
Net asset value at end of period | $8.96 |
Total investment return (b) | (8.17)% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 0.52% |
Net expenses††(c) | 1.15% |
Expenses (before waiver/reimbursement)††(c) | 2.75% |
Portfolio turnover rate | 70% |
Net assets at end of period (in 000’s) | $40 |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
September 30, 2021 through April 30, | |
SIMPLE Class | 2022 |
Net asset value at beginning of period | $10.00 |
Net investment income (loss) (a) | 0.03 |
Net realized and unrealized gain (loss) | (0.82) |
Total from investment operations | (0.79) |
Less distributions: | |
From net investment income | (0.25) |
From net realized gain on investments | (0.00)‡ |
Net asset value at end of period | $8.96 |
Total investment return (b) | (8.15)% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss)†† | 0.57% |
Net expenses††(c) | 1.05% |
Expenses (before waiver/reimbursement)††(c) | 2.65% |
Portfolio turnover rate | 70% |
Net assets at end of period (in 000’s) | $74 |
‡ | Less than one cent per share. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro-rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above expense ratios. |
102 | MainStay ESG Multi-Asset Allocation Fund |
Fund | Share Classes Commenced Operations1 |
MainStay Defensive ETF Allocation Fund | Class A, Class C, Class I, Class R3, SIMPLE Class |
MainStay Conservative ETF Allocation Fund | Class A, Class C, Class I, Class R3, SIMPLE Class |
MainStay Moderate ETF Allocation Fund | Class A, Class C, Class I, Class R3, SIMPLE Class |
MainStay Growth ETF Allocation Fund | Class A, Class C, Class I, Class R3, SIMPLE Class |
MainStay Equity ETF Allocation Fund | Class A, Class C, Class I, Class R3, SIMPLE Class |
MainStay ESG Multi-Asset Allocation Fund | Class A, Class C, Class I, Class R3, SIMPLE Class |
104 | Mainstay ETF Asset Allocation Funds |
106 | Mainstay ETF Asset Allocation Funds |
Fund | Class A | Class C | Class I | Class R3 | SIMPLE Class |
MainStay Defensive ETF Allocation Fund | 0.80% | 1.55% | 0.55% | 1.15% | 1.05% |
MainStay Conservative ETF Allocation Fund | 0.80 | 1.55 | 0.55 | 1.15 | 1.05 |
MainStay Moderate ETF Allocation Fund | 0.80 | 1.55 | 0.55 | 1.15 | 1.05 |
MainStay Growth ETF Allocation Fund | 0.80 | 1.55 | 0.55 | 1.15 | 1.05 |
MainStay Equity ETF Allocation Fund | 0.80 | 1.55 | 0.55 | 1.15 | 1.05 |
MainStay ESG Multi-Asset Allocation Fund | 0.80 | 1.55 | 0.55 | 1.15 | 1.05 |
Fund | Earned | Waived/Reimbursed |
MainStay Defensive ETF Allocation Fund | 19,051 | (90,499) |
MainStay Conservative ETF Allocation Fund | 63,730 | (35,840) |
MainStay Moderate ETF Allocation Fund | 159,396 | (42) |
MainStay Growth ETF Allocation Fund | 94,957 | (24,329) |
MainStay Equity ETF Allocation Fund | 69,022 | (42,612) |
MainStay ESG Multi-Asset Allocation Fund | 12,527 | (100,047) |
MainStay Defensive ETF Allocation Fund | |
Class R3 | $29 |
MainStay Conservative ETF Allocation Fund | |
Class R3 | $82 |
MainStay Moderate ETF Allocation Fund | |
Class R3 | $653 |
MainStay Growth ETF Allocation Fund | |
Class R3 | $246 |
MainStay Equity ETF Allocation Fund | |
Class R3 | $475 |
MainStay ESG Multi-Asset Allocation Fund | |
Class R3 | $22 |
MainStay Defensive ETF Allocation Fund | |
Class A | $5,029 |
MainStay Conservative ETF Allocation Fund | |
Class A | $22,997 |
MainStay Moderate ETF Allocation Fund | |
Class A | $66,732 |
MainStay Growth ETF Allocation Fund | |
Class A | $55,388 |
MainStay Equity ETF Allocation Fund | |
Class A | $39,895 |
MainStay ESG Multi-Asset Allocation Fund | |
Class A | $845 |
MainStay Defensive ETF Allocation Fund | |
Class A | $2,707 |
MainStay Conservative ETF Allocation Fund | |
Class A | $6,520 |
Class C | 36 |
MainStay Moderate ETF Allocation Fund | |
Class A | $3,809 |
Class C | 23 |
MainStay Growth ETF Allocation Fund | |
Class A | $259 |
MainStay Equity ETF Allocation Fund | |
Class A | $4,029 |
Class C | 21 |
MainStay Defensive ETF Allocation Fund | Expense | Waived |
Class C | $149 | $ — |
SIMPLE Class | 153 | — |
MainStay Conservative ETF Allocation Fund | Expense | Waived |
Class A | $11,116 | $ — |
Class C | 495 | — |
Class I | 21 | — |
Class R3 | 30 | — |
SIMPLE Class | 686 | — |
108 | Mainstay ETF Asset Allocation Funds |
MainStay Moderate ETF Allocation Fund | Expense | Waived |
Class A | $35,691 | $ — |
Class C | 774 | — |
Class I | 32 | — |
Class R3 | 306 | — |
SIMPLE Class | 2,430 | — |
MainStay Growth ETF Allocation Fund | Expense | Waived |
Class A | $43,063 | $ — |
Class C | 428 | — |
Class I | 40 | — |
Class R3 | 243 | — |
SIMPLE Class | 3,377 | — |
MainStay Equity ETF Allocation Fund | Expense | Waived |
Class A | $27,124 | $ — |
Class C | 310 | — |
Class I | 215 | — |
Class R3 | 403 | — |
SIMPLE Class | 3,000 | — |
MainStay ESG Multi-Asset Allocation Fund | Expense | Waived |
Class A | $887 | $ — |
Class C | 29 | — |
Class I | 11,527 | — |
Class R3 | 43 | — |
SIMPLE Class | 41 | — |
MainStay Defensive ETF Allocation Fund | ||
Class C | $24,303 | 20.7% |
Class I | 24,482 | 70.3 |
Class R3 | 24,451 | 76.9 |
MainStay Conservative ETF Allocation Fund | ||
Class C | $25,978 | 6.3% |
Class I | 33,341 | 100.0 |
Class R3 | 26,172 | 29.1 |
MainStay Moderate ETF Allocation Fund | ||
Class I | $29,169 | 39.9% |
Class R3 | 28,041 | 3.3 |
MainStay Growth ETF Allocation Fund | ||
Class C | $29,886 | 9.6% |
Class I | 29,273 | 72.3 |
Class R3 | 30,114 | 6.2 |
MainStay Equity ETF Allocation Fund | ||
Class C | $31,337 | 17.7% |
Class I | 17,216 | 11.3 |
Class R3 | 31,604 | 6.7 |
MainStay Defensive ETF Allocation Fund | ||||
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $12,291,921 | $103,537 | $(875,397) | $(771,860) |
MainStay Conservative ETF Allocation Fund | ||||
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $43,017,404 | $280,648 | $(2,139,617) | $(1,858,969) |
MainStay Moderate ETF Allocation Fund | ||||
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $108,462,743 | $1,391,940 | $(4,363,992) | $(2,972,052) |
MainStay Growth ETF Allocation Fund | ||||
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $64,775,099 | $1,011,167 | $(1,971,941) | $(960,774) |
MainStay Equity ETF Allocation Fund | ||||
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $44,506,140 | $726,831 | $(1,939,210) | $(1,212,379) |
MainStay ESG Multi-Asset Allocation Fund | ||||
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $11,518,858 | $129 | $(1,025,588) | $(1,025,459) |
Fund | Ordinary income | Accumulated Capital and Other Gain (Loss) | Other Temporary Differences | Unrealized Appreciation (Depreciation) | Total Accumulated Gain (Loss) |
MainStay Defensive ETF Allocation Fund | $20,124 | $70,089 | $— | $(771,860) | $(681,647) |
MainStay Conservative ETF Allocation Fund | 44,736 | 114,302 | — | (1,858,969) | (1,699,931) |
MainStay Moderate ETF Allocation Fund | 201,868 | 172,753 | — | (2,972,052) | (2,597,431) |
MainStay Growth ETF Allocation Fund | 113,303 | 17,176 | — | (960,774) | (830,295) |
MainStay Equity ETF Allocation Fund | — | 5,029 | — | (1,212,379) | (1,207,350) |
MainStay ESG Multi-Asset Allocation Fund | 8,806 | (76,357) | (91,846) | (1,025,459) | (1,184,856) |
Fund | Total Distributable Earnings (Loss) | Additional Paid-In Capital |
MainStay Defensive ETF Allocation Fund | $— | $— |
MainStay Conservative ETF Allocation Fund | — | — |
MainStay Moderate ETF Allocation Fund | — | — |
MainStay Growth ETF Allocation Fund | (1,589) | 1,589 |
MainStay Equity ETF Allocation Fund | (660) | 660 |
MainStay ESG Multi-Asset Allocation Fund | 358 | (358) |
Capital Loss Available Through | Short-Term Capital Loss Amounts (000’s) | Long-Term Capital Loss Amounts (000’s) |
Unlimited | $76 | $— |
2022 | 2021 | ||||
Fund | Ordinary Income | Long-Term Capital Gains | Total | Ordinary Income | Total |
MainStay Defensive ETF Allocation Fund | $255,743 | $901 | $256,644 | $87,982 | $87,982 |
MainStay Conservative ETF Allocation Fund | 737,286 | — | 737,286 | 168,485 | 168,485 |
MainStay Moderate ETF Allocation Fund | 1,226,137 | — | 1,226,137 | 220,070 | 220,070 |
MainStay Growth ETF Allocation Fund | 623,890 | — | 623,890 | 112,808 | 112,808 |
MainStay Equity ETF Allocation Fund | 384,052 | 1,643 | 385,695 | 60,573 | 60,573 |
MainStay ESG Multi-Asset Allocation Fund | 286,286 | — | 286,286 | — | — |
110 | Mainstay ETF Asset Allocation Funds |
Fund | Purchases | Sales |
MainStay Defensive ETF Allocation Fund | $7,389 | $7,494 |
MainStay Conservative ETF Allocation Fund | 31,859 | 19,125 |
MainStay Moderate ETF Allocation Fund | 87,232 | 44,823 |
MainStay Growth ETF Allocation Fund | 55,398 | 24,878 |
MainStay Equity ETF Allocation Fund | 36,329 | 14,723 |
MainStay ESG Multi-Asset Allocation Fund | 18,631 | 7,356 |
Class A | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 467,406 | $4,822,274 |
Shares issued to shareholders in reinvestment of distributions | 23,782 | 246,509 |
Shares redeemed | (328,586) | (3,404,083) |
Net increase (decrease) in shares outstanding before conversion | 162,602 | 1,664,700 |
Shares converted into Class A (See Note 1) | 2,196 | 22,510 |
Net increase (decrease) | 164,798 | $1,687,210 |
Year ended April 30, 2021:(a) | ||
Shares sold | 1,019,860 | $10,475,057 |
Shares issued to shareholders in reinvestment of distributions | 6,035 | 62,541 |
Shares redeemed | (205,074) | (2,122,890) |
Net increase (decrease) | 820,821 | $8,414,708 |
Class C | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 115 | $1,200 |
Shares issued to shareholders in reinvestment of distributions | 252 | 2,623 |
Shares redeemed | (1,322) | (13,767) |
Net increase (decrease) in shares outstanding before conversion | (955) | (9,944) |
Shares converted from Class C (See Note 1) | (2,198) | (22,510) |
Net increase (decrease) | (3,153) | $(32,454) |
Year ended April 30, 2021:(a) | ||
Shares sold | 36,365 | $368,622 |
Shares issued to shareholders in reinvestment of distributions | 86 | 898 |
Shares redeemed | (20,929) | (215,685) |
Net increase (decrease) | 15,522 | $153,835 |
Class I | Shares | Amount |
Year ended April 30, 2022: | ||
Shares issued to shareholders in reinvestment of distributions | 108 | $1,116 |
Shares redeemed | (191,795) | (2,002,016) |
Net increase (decrease) | (191,687) | $(2,000,900) |
Year ended April 30, 2021:(a) | ||
Shares sold | 193,555 | $1,936,076 |
Shares issued to shareholders in reinvestment of distributions | 1,800 | 18,692 |
Net increase (decrease) | 195,355 | $1,954,768 |
Class R3 | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 762 | $8,000 |
Shares issued to shareholders in reinvestment of distributions | 73 | 758 |
Shares redeemed | — | (1) |
Net increase (decrease) | 835 | $8,757 |
Year ended April 30, 2021:(a) | ||
Shares sold | 2,500 | $25,001 |
Shares issued to shareholders in reinvestment of distributions | 16 | 165 |
Net increase (decrease) | 2,516 | $25,166 |
SIMPLE Class | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 23,576 | $242,000 |
Shares issued to shareholders in reinvestment of distributions | 353 | 3,645 |
Shares redeemed | (3,023) | (31,532) |
Net increase (decrease) | 20,906 | $214,113 |
Year ended April 30, 2021:(b) | ||
Shares sold | 7,620 | $78,773 |
Shares issued to shareholders in reinvestment of distributions | 25 | 265 |
Net increase (decrease) | 7,645 | $79,038 |
(a) | The inception date of the class was June 30, 2020. |
(b) | The inception date of the class was August 31, 2020. |
Class A | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 1,692,280 | $18,824,810 |
Shares issued to shareholders in reinvestment of distributions | 62,856 | 704,321 |
Shares redeemed | (685,361) | (7,574,739) |
Net increase (decrease) in shares outstanding before conversion | 1,069,775 | 11,954,392 |
Shares converted into Class A (See Note 1) | 408 | 4,556 |
Net increase (decrease) | 1,070,183 | $11,958,948 |
Year ended April 30, 2021:(a) | ||
Shares sold | 2,384,111 | $25,249,853 |
Shares issued to shareholders in reinvestment of distributions | 13,109 | 141,610 |
Shares redeemed | (246,378) | (2,653,335) |
Net increase (decrease) in shares outstanding before conversion | 2,150,842 | 22,738,128 |
Shares converted into Class A (See Note 1) | 1,892 | 20,583 |
Net increase (decrease) | 2,152,734 | $22,758,711 |
Class C | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 2,366 | $26,521 |
Shares issued to shareholders in reinvestment of distributions | 608 | 6,833 |
Shares redeemed | (4,591) | (51,480) |
Net increase (decrease) in shares outstanding before conversion | (1,617) | (18,126) |
Shares converted from Class C (See Note 1) | (409) | (4,556) |
Net increase (decrease) | (2,026) | $(22,682) |
Year ended April 30, 2021:(a) | ||
Shares sold | 50,859 | $536,904 |
Shares issued to shareholders in reinvestment of distributions | 132 | 1,425 |
Shares redeemed | (6,573) | (71,192) |
Net increase (decrease) in shares outstanding before conversion | 44,418 | 467,137 |
Shares converted from Class C (See Note 1) | (1,897) | (20,583) |
Net increase (decrease) | 42,521 | $446,554 |
Class I | Shares | Amount |
Year ended April 30, 2022: | ||
Shares issued to shareholders in reinvestment of distributions | 137 | $1,541 |
Shares redeemed | (2,385) | (25,619) |
Net increase (decrease) | (2,248) | $(24,078) |
Year ended April 30, 2021:(a) | ||
Shares sold | 194,825 | $1,950,450 |
Shares issued to shareholders in reinvestment of distributions | 1,755 | 19,046 |
Shares redeemed | (191,064) | (2,104,762) |
Net increase (decrease) | 5,516 | $(135,266) |
112 | Mainstay ETF Asset Allocation Funds |
Class R3 | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 2,565 | $28,919 |
Shares issued to shareholders in reinvestment of distributions | 149 | 1,667 |
Net increase (decrease) | 2,714 | $30,586 |
Year ended April 30, 2021:(a) | ||
Shares sold | 6,075 | $63,368 |
Shares issued to shareholders in reinvestment of distributions | 36 | 392 |
Net increase (decrease) | 6,111 | $63,760 |
SIMPLE Class | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 92,080 | $1,019,656 |
Shares issued to shareholders in reinvestment of distributions | 1,200 | 13,388 |
Shares redeemed | (5,244) | (58,363) |
Net increase (decrease) | 88,036 | $974,681 |
Year ended April 30, 2021:(b) | ||
Shares sold | 19,877 | $216,479 |
Shares issued to shareholders in reinvestment of distributions | 41 | 450 |
Shares redeemed | (2,416) | (26,602) |
Net increase (decrease) | 17,502 | $190,327 |
(a) | The inception date of the class was June 30, 2020. |
(b) | The inception date of the class was August 31, 2020. |
Class A | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 4,186,889 | $50,473,072 |
Shares issued to shareholders in reinvestment of distributions | 96,219 | 1,188,297 |
Shares redeemed | (1,080,298) | (13,019,569) |
Net increase (decrease) in shares outstanding before conversion | 3,202,810 | 38,641,800 |
Shares converted into Class A (See Note 1) | 11,038 | 130,131 |
Net increase (decrease) | 3,213,848 | $38,771,931 |
Year ended April 30, 2021:(a) | ||
Shares sold | 4,954,721 | $54,237,300 |
Shares issued to shareholders in reinvestment of distributions | 17,271 | 194,817 |
Shares redeemed | (403,632) | (4,511,554) |
Net increase (decrease) in shares outstanding before conversion | 4,568,360 | 49,920,563 |
Shares converted into Class A (See Note 1) | 6,604 | 75,948 |
Net increase (decrease) | 4,574,964 | $49,996,511 |
Class C | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 14,807 | $177,884 |
Shares issued to shareholders in reinvestment of distributions | 288 | 3,546 |
Shares redeemed | (11,428) | (135,584) |
Net increase (decrease) in shares outstanding before conversion | 3,667 | 45,846 |
Shares converted from Class C (See Note 1) | (11,079) | (130,131) |
Net increase (decrease) | (7,412) | $(84,285) |
Year ended April 30, 2021:(a) | ||
Shares sold | 53,624 | $588,904 |
Shares issued to shareholders in reinvestment of distributions | 155 | 1,749 |
Shares redeemed | (4,385) | (49,693) |
Net increase (decrease) in shares outstanding before conversion | 49,394 | 540,960 |
Shares converted from Class C (See Note 1) | (6,621) | (75,948) |
Net increase (decrease) | 42,773 | $465,012 |
Class I | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 2,979 | $36,029 |
Shares issued to shareholders in reinvestment of distributions | 91 | 1,128 |
Shares redeemed | (850) | (10,430) |
Net increase (decrease) | 2,220 | $26,727 |
Year ended April 30, 2021:(a) | ||
Shares sold | 194,284 | $1,945,000 |
Shares issued to shareholders in reinvestment of distributions | 1,772 | 19,971 |
Shares redeemed | (191,673) | (2,245,853) |
Net increase (decrease) | 4,383 | $(280,882) |
Class R3 | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 42,794 | $519,787 |
Shares issued to shareholders in reinvestment of distributions | 733 | 9,056 |
Shares redeemed | (141) | (1,748) |
Net increase (decrease) | 43,386 | $527,095 |
Year ended April 30, 2021:(a) | ||
Shares sold | 33,920 | $383,218 |
Shares issued to shareholders in reinvestment of distributions | 21 | 239 |
Net increase (decrease) | 33,941 | $383,457 |
SIMPLE Class | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 258,797 | $3,089,423 |
Shares issued to shareholders in reinvestment of distributions | 1,785 | 22,031 |
Shares redeemed | (13,574) | (159,897) |
Net increase (decrease) | 247,008 | $2,951,557 |
Year ended April 30, 2021:(b) | ||
Shares sold | 42,765 | $488,812 |
Shares issued to shareholders in reinvestment of distributions | 68 | 758 |
Shares redeemed | (2,734) | (31,987) |
Net increase (decrease) | 40,099 | $457,583 |
(a) | The inception date of the class was June 30, 2020. |
(b) | The inception date of the class was August 31, 2020. |
Class A | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 2,481,741 | $32,173,386 |
Shares issued to shareholders in reinvestment of distributions | 43,915 | 591,099 |
Shares redeemed | (446,604) | (5,771,438) |
Net increase (decrease) in shares outstanding before conversion | 2,079,052 | 26,993,047 |
Shares converted into Class A (See Note 1) | 339 | 4,447 |
Shares converted from Class A (See Note 1) | (283) | (3,802) |
Net increase (decrease) | 2,079,108 | $26,993,692 |
Year ended April 30, 2021:(a) | ||
Shares sold | 2,537,583 | $29,056,494 |
Shares issued to shareholders in reinvestment of distributions | 7,401 | 87,479 |
Shares redeemed | (222,327) | (2,613,606) |
Shares converted into Class A (See Note 1) | 94 | 1,156 |
Shares converted from Class A (See Note 1) | (29) | (354) |
Net increase (decrease) | 2,322,722 | $26,531,169 |
Class C | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 5,581 | $72,514 |
Shares issued to shareholders in reinvestment of distributions | 113 | 1,516 |
Shares redeemed | (1,785) | (23,688) |
Net increase (decrease) in shares outstanding before conversion | 3,909 | 50,342 |
Shares converted from Class C (See Note 1) | (342) | (4,447) |
Net increase (decrease) | 3,567 | $45,895 |
Year ended April 30, 2021:(a) | ||
Shares sold | 22,747 | $255,421 |
Shares issued to shareholders in reinvestment of distributions | 66 | 777 |
Shares redeemed | (117) | (1,371) |
Shares converted from Class C (See Note 1) | (94) | (1,156) |
Net increase (decrease) | 22,602 | $253,671 |
Class I | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 249 | $3,250 |
Shares issued to shareholders in reinvestment of distributions | 47 | 635 |
Net increase (decrease) | 296 | $3,885 |
Year ended April 30, 2021:(a) | ||
Shares sold | 193,850 | $1,939,316 |
Shares issued to shareholders in reinvestment of distributions | 1,947 | 22,920 |
Shares redeemed | (192,688) | (2,420,038) |
Net increase (decrease) | 3,109 | $(457,802) |
Class R3 | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 28,331 | $367,189 |
Shares issued to shareholders in reinvestment of distributions | 160 | 2,146 |
Net increase (decrease) | 28,491 | $369,335 |
Year ended April 30, 2021:(a) | ||
Shares sold | 12,294 | $124,997 |
Shares issued to shareholders in reinvestment of distributions | 44 | 519 |
Net increase (decrease) | 12,338 | $125,516 |
114 | Mainstay ETF Asset Allocation Funds |
SIMPLE Class | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 266,287 | $3,460,769 |
Shares issued to shareholders in reinvestment of distributions | 2,090 | 28,129 |
Shares redeemed | (21,687) | (278,346) |
Net increase (decrease) in shares outstanding before conversion | 246,690 | 3,210,552 |
Shares converted into SIMPLE Class (See Note 1) | 283 | 3,802 |
Net increase (decrease) | 246,973 | $3,214,354 |
Year ended April 30, 2021:(b) | ||
Shares sold | 81,926 | $985,511 |
Shares issued to shareholders in reinvestment of distributions | 92 | 1,084 |
Shares redeemed | (6,781) | (84,986) |
Shares converted into SIMPLE Class (See Note 1) | 29 | 354 |
Net increase (decrease) | 75,266 | $901,963 |
(a) | The inception date of the class was June 30, 2020. |
(b) | The inception date of the class was August 31, 2020. |
Class A | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 1,900,803 | $26,331,795 |
Shares issued to shareholders in reinvestment of distributions | 24,833 | 360,078 |
Shares redeemed | (366,165) | (5,060,167) |
Net increase (decrease) in shares outstanding before conversion | 1,559,471 | 21,631,706 |
Shares converted into Class A (See Note 1) | 1,883 | 25,918 |
Net increase (decrease) | 1,561,354 | $21,657,624 |
Year ended April 30, 2021:(a) | ||
Shares sold | 1,551,616 | $18,998,861 |
Shares issued to shareholders in reinvestment of distributions | 2,490 | 30,705 |
Shares redeemed | (75,463) | (944,522) |
Net increase (decrease) in shares outstanding before conversion | 1,478,643 | 18,085,044 |
Shares converted into Class A (See Note 1) | 3,376 | 44,154 |
Net increase (decrease) | 1,482,019 | $18,129,198 |
Class C | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 4,078 | $56,581 |
Shares issued to shareholders in reinvestment of distributions | 41 | 590 |
Shares redeemed | (904) | (12,511) |
Net increase (decrease) in shares outstanding before conversion | 3,215 | 44,660 |
Shares converted from Class C (See Note 1) | (1,894) | (25,918) |
Net increase (decrease) | 1,321 | $18,742 |
Year ended April 30, 2021:(a) | ||
Shares sold | 20,328 | $233,925 |
Shares issued to shareholders in reinvestment of distributions | 29 | 359 |
Shares redeemed | (4,054) | (49,006) |
Net increase (decrease) in shares outstanding before conversion | 16,303 | 185,278 |
Shares converted from Class C (See Note 1) | (3,391) | (44,154) |
Net increase (decrease) | 12,912 | $141,124 |
Class I | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 7,559 | $104,738 |
Shares issued to shareholders in reinvestment of distributions | 150 | 2,163 |
Shares redeemed | (193,413) | (2,596,830) |
Net increase (decrease) | (185,704) | $(2,489,929) |
Year ended April 30, 2021:(a) | ||
Shares sold | 195,586 | $1,962,226 |
Shares issued to shareholders in reinvestment of distributions | 2,312 | 28,320 |
Net increase (decrease) | 197,898 | $1,990,546 |
Class R3 | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 4,977 | $70,234 |
Shares issued to shareholders in reinvestment of distributions | 106 | 1,525 |
Shares redeemed | — | (13) |
Net increase (decrease) | 5,083 | $71,746 |
Year ended April 30, 2021:(a) | ||
Shares sold | 32,636 | $392,024 |
Shares issued to shareholders in reinvestment of distributions | 53 | 645 |
Net increase (decrease) | 32,689 | $392,669 |
SIMPLE Class | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 184,935 | $2,564,334 |
Shares issued to shareholders in reinvestment of distributions | 1,185 | 17,161 |
Shares redeemed | (13,008) | (178,356) |
Net increase (decrease) | 173,112 | $2,403,139 |
Year ended April 30, 2021:(b) | ||
Shares sold | 60,280 | $777,031 |
Shares issued to shareholders in reinvestment of distributions | 17 | 208 |
Shares redeemed | (698) | (9,450) |
Net increase (decrease) | 59,599 | $767,789 |
(a) | The inception date of the class was June 30, 2020. |
(b) | The inception date of the class was August 31, 2020. |
Class A | Shares | Amount |
Period ended April 30, 2022: (a) | ||
Shares sold | 134,088 | $1,332,493 |
Shares issued to shareholders in reinvestment of distributions | 1,853 | 18,787 |
Shares redeemed | (6,512) | (61,804) |
Net increase (decrease) | 129,429 | $1,289,476 |
Class C | Shares | Amount |
Period ended April 30, 2022: (a) | ||
Shares sold | 2,501 | $24,999 |
Shares issued to shareholders in reinvestment of distributions | 59 | 605 |
Net increase (decrease) | 2,560 | $25,604 |
Class I | Shares | Amount |
Period ended April 30, 2022: (a) | ||
Shares sold | 991,316 | $9,913,000 |
Shares issued to shareholders in reinvestment of distributions | 26,150 | 265,161 |
Net increase (decrease) | 1,017,466 | $10,178,161 |
Class R3 | Shares | Amount |
Period ended April 30, 2022: (a) | ||
Shares sold | 4,350 | $43,898 |
Shares issued to shareholders in reinvestment of distributions | 108 | 1,096 |
Net increase (decrease) | 4,458 | $44,994 |
SIMPLE Class | Shares | Amount |
Period ended April 30, 2022: (a) | ||
Shares sold | 8,224 | $78,818 |
Shares issued to shareholders in reinvestment of distributions | 63 | 637 |
Net increase (decrease) | 8,287 | $79,455 |
(a) | The inception date of the class was September 30, 2021. |
116 | Mainstay ETF Asset Allocation Funds |
MainStay Funds Trust:
June 27, 2022
118 | Mainstay ETF Asset Allocation Funds |
120 | Mainstay ETF Asset Allocation Funds |
122 | Mainstay ETF Asset Allocation Funds |
MainStay Defensive ETF Allocation Fund | $901 |
MainStay Conservative ETF Allocation Fund | 0 |
MainStay Moderate ETF Allocation Fund | 0 |
MainStay Growth ETF Allocation Fund | 0 |
MainStay Equity ETF Allocation Fund | 0 |
MainStay ESG Multi-Asset Allocation Fund | 0 |
QDI$ | |
MainStay Defensive ETF Allocation Fund | $35,538 |
MainStay Conservative ETF Allocation Fund | 177,010 |
MainStay Moderate ETF Allocation Fund | 570,557 |
MainStay Growth ETF Allocation Fund | 434,579 |
MainStay Equity ETF Allocation Fund | 385,897 |
MainStay ESG Multi-Asset Allocation Fund | 28,161 |
DRD% | |
MainStay Defensive ETF Allocation Fund | 6.53% |
MainStay Conservative ETF Allocation Fund | 10.32% |
MainStay Moderate ETF Allocation Fund | 21.98% |
MainStay Growth ETF Allocation Fund | 33.14% |
MainStay Equity ETF Allocation Fund | 49.96% |
MainStay ESG Multi-Asset Allocation Fund | 4.38% |
FTC$ | |
MainStay Defensive ETF Allocation Fund | $825 |
MainStay Conservative ETF Allocation Fund | 3,839 |
MainStay Moderate ETF Allocation Fund | 12,365 |
MainStay Growth ETF Allocation Fund | 10,315 |
MainStay Equity ETF Allocation Fund | 8,340 |
MainStay ESG Multi-Asset Allocation Fund | 1,233 |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
Yie-Hsin Hung* 1962 | MainStay Funds: Trustee since 2017; MainStay Funds Trust: Trustee since 2017 | Senior Vice President of New York Life since joining in 2010, Member of the Executive Management Committee since 2017, Chief Executive Officer, New York Life Investment Management Holdings LLC & New York Life Investment Management LLC since 2015. Senior Managing Director and Co-President of New York Life Investment Management LLC from January 2014 to May 2015. Previously held positions of increasing responsibility, including head of NYLIM International, Alternative Growth Businesses, and Institutional investments since joining New York Life in 2010 | 78 | MainStay VP Funds Trust: Trustee since 2017 (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2017; MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since March 2021; and Turtle Beach Corporation: Director since April 2021 |
124 | Mainstay ETF Asset Allocation Funds |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
David H. Chow 1957 | MainStay Funds: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); MainStay Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) | Founder and CEO, DanCourt Management, LLC since 1999 | 78 | MainStay VP Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021; VanEck Vectors Group of Exchange-Traded Funds: Independent Chairman of the Board of Trustees since 2008 and Trustee since 2006 (56 portfolios); and Berea College of Kentucky: Trustee since 2009, Chair of the Investment Committee since 2018 | |
Susan B. Kerley 1951 | MainStay Funds: Chairman since 2017 and Trustee since 2007; MainStay Funds Trust: Chairman since 2017 and Trustee since 1990** | President, Strategic Management Advisors LLC since 1990 | 78 | MainStay VP Funds Trust: Chairman since January 2017 and Trustee since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Chairman since 2017 and Trustee since 2011; MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021; and Legg Mason Partners Funds: Trustee since 1991 (45 portfolios) | |
Alan R. Latshaw 1951 | MainStay Funds: Trustee since 2006; MainStay Funds Trust: Trustee since 2007** | Retired; Partner, Ernst & Young LLP (2002 to 2003); Partner, Arthur Andersen LLP (1989 to 2002); Consultant to the MainStay Funds Audit and Compliance Committee (2004 to 2006) | 78 | MainStay VP Funds Trust: Trustee since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011; and MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021 | |
Richard H. Nolan, Jr. 1946**** | MainStay Funds: Trustee since 2007; MainStay Funds Trust: Trustee since 2007** | Managing Director, ICC Capital Management since 2004; President—Shields/Alliance, Alliance Capital Management (1994 to 2004) | 78 | MainStay VP Funds Trust: Trustee since 2006 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011; and MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021 |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
Karen Hammond 1956 | MainStay Funds: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021); MainStay Funds Trust: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021) | Retired, Managing Director, Devonshire Investors (2007 to 2013); Senior Vice President, Fidelity Management & Research Co. (2005 to 2007); Senior Vice President and Corporate Treasurer, FMR Corp. (2003 to 2005); Chief Operating Officer, Fidelity Investments Japan (2001 to 2003) | 78 | MainStay VP Funds Trust: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021) (31 Portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021); MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021); Two Harbors Investment Corp.: Member since 2018, Chair of the Special Committee since 2019; Rhode Island School of Design: Director and Chair of the Finance Committee since 2015; and Blue Cross Blue Shield of Rhode Island: Director since 2019 | |
Jacques P. Perold 1958 | MainStay Funds: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); MainStay Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) | Founder and Chief Executive Officer, CapShift Advisors LLC since 2018; President, Fidelity Management & Research Company (2009 to 2014); President and Chief Investment Officer, Geode Capital Management, LLC (2001 to 2009) | 78 | MainStay VP Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021; Partners in Health: Trustee since 2019; Allstate Corporation: Director since 2015; and MSCI, Inc.: Director since 2017 | |
Richard S. Trutanic 1952 | MainStay Funds: Trustee since 1994; MainStay Funds Trust: Trustee since 2007** | Chairman and Chief Executive Officer, Somerset & Company (financial advisory firm) since 2004; Managing Director, The Carlyle Group (private investment firm) (2002 to 2004); Senior Managing Director, Partner and Board Member, Groupe Arnault S.A. (private investment firm) (1999 to 2002) | 78 | MainStay VP Funds Trust: Trustee since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011; and MainStay CBRE Global Infrastructure Megatrends Fund; Trustee since June 2021 |
126 | Mainstay ETF Asset Allocation Funds |
Name and Year of Birth | Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | ||
Kirk C. Lehneis 1974 | President, MainStay Funds, MainStay Funds Trust since 2017 | Chief Operating Officer and Senior Managing Director since 2016, New York Life Investment Management LLC and New York Life Investment Management Holdings LLC; Member of the Board of Managers (since 2017) and Senior Managing Director (since 2018), NYLIFE Distributors LLC; Chairman of the Board and Senior Managing Director, NYLIM Service Company LLC since 2017; Trustee, President and Principal Executive Officer of IndexIQ Trust, IndexIQ ETF Trust and IndexIQ Active ETF Trust since January 2018; President, MainStay MacKay DefinedTerm Municipal Opportunities Fund and MainStay VP Funds Trust since 2017** and MainStay CBRE Global Infrastructure Megatrends Fund since 2021; Senior Managing Director, Global Product Development (2015 to 2016); Managing Director, Product Development (2010 to 2015), New York Life Investment Management LLC | ||
Jack R. Benintende 1964 | Treasurer and Principal Financial and Accounting Officer, MainStay Funds since 2007, MainStay Funds Trust since 2009 | Managing Director, New York Life Investment Management LLC since 2007; Treasurer and Principal Financial and Accounting Officer, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011, MainStay VP Funds Trust since 2007** and MainStay CBRE Global Infrastructure Megatrends Fund since 2021; and Assistant Treasurer, New York Life Investment Management Holdings LLC (2008 to 2012) | ||
J. Kevin Gao 1967 | Secretary and Chief Legal Officer, MainStay Funds and MainStay Funds Trust since 2010 | Managing Director and Associate General Counsel, New York Life Investment Management LLC since 2010; Secretary and Chief Legal Officer, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011, MainStay VP Funds Trust since 2010** and MainStay CBRE Global Infrastructure Megatrends Fund since 2021 | ||
Scott T. Harrington 1959 | Vice President— Administration, MainStay Funds since 2005, MainStay Funds Trust since 2009 | Managing Director, New York Life Investment Management LLC (including predecessor advisory organizations) since 2000; Member of the Board of Directors, New York Life Trust Company since 2009; Vice President—Administration, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011, MainStay VP Funds Trust since 2005** and MainStay CBRE Global Infrastructure Megatrends Fund since 2021 | ||
Kevin M. Bopp 1969 | Vice President and Chief Compliance Officer, MainStay Funds and MainStay Funds Trust since 2021 and 2014 to 2020 | Vice President and Chief Compliance Officer, New York Life Investments Alternatives LLC and New York Life Investment Management Holdings LLC (since 2020); Vice President (since 2018) and Chief Compliance Officer (since 2016), New York Life Investment Management LLC; Vice President and Chief Compliance Officer, IndexIQ Advisors LLC, IndexIQ Holdings Inc., IndexIQ LLC and IndexIQ Trust (since 2017); Director and Associate General Counsel (2011 to 2014) and Vice President and Assistant General Counsel (2010 to 2011), New York Life Investment Management LLC; Vice President and Chief Compliance Officer, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund (since June 2021 and 2014 to 2020) and MainStay CBRE Global Infrastructure Megatrends Fund (since 2021); Assistant Secretary, MainStay Funds, MainStay Funds Trust and MainStay VP Funds Trust (2010 to 2014)**, MainStay MacKay DefinedTerm Municipal Opportunities Fund (2011 to 2014) |
For more information
Message from the President and Annual Report
please log in to newyorklifeinvestments.com/accounts.
Not FDIC/NCUA Insured | Not a Deposit | May Lose Value | No Bank Guarantee | Not Insured by Any Government Agency |
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Investors should refer to the Fund’s Summary Prospectus and/or Prospectus and consider the Fund’s investment objectives, strategies, risks, charges and expenses carefully before investing. The Summary Prospectus and/or Prospectus contain this and other information about the Fund. You may obtain copies of the Fund’s Summary Prospectus, Prospectus and Statement of Additional Information, which includes information about MainStay Funds Trust's Trustees, free of charge, upon request, by calling toll-free 800-624-6782, by writing to NYLIFE Distributors LLC, Attn: MainStay Marketing Department, 30 Hudson Street, Jersey City, NJ 07302 or by sending an e-mail to MainStayShareholderServices@nylim.com. These documents are also available via the MainStay Funds’ website at newyorklifeinvestments.com. Please read the Fund’s Summary Prospectus and/or Prospectus carefully before investing.
Average Annual Total Returns for the Year-Ended April 30, 2022 | |||||||
Class | Sales Charge | Inception Date1 | One Year | Five Years | Ten Years or Since Inception | Gross Expense Ratio2 | |
Class A Shares | Maximum 1% Initial Sales Charge | With sales charges | 1/2/2004 | -4.77% | 0.31% | 0.22% | 0.65% |
Excluding sales charges | -3.81 | 0.51 | 0.52 | 0.65 | |||
Class A2 Shares | Maximum 2% Initial Sales Charge | With sales charges | 9/30/2020 | -5.83 | N/A | -3.18 | 0.65 |
Excluding sales charges | -3.91 | N/A | -1.94 | 0.65 | |||
Investor Class Shares3, 4 | Maximum .5% Initial Sales Charge | With sales charges | 2/28/2008 | -4.67 | -0.09 | -0.16 | 1.25 |
Excluding sales charges | -4.19 | 0.11 | 0.14 | 1.25 | |||
Class I Shares | No Sales Charge | 1/2/1991 | -3.55 | 0.79 | 0.79 | 0.40 |
1. | Effective June 1, 2015, the Fund changed, among other things, its investment objective and principal investment strategies. Effective May 22, 2018, the Fund made further changes to, among other things, its principal investment strategies. Effective February 28, 2019, the Fund further changed its investment objective. The performance information shown in this report reflects the Fund’s prior investment objectives and principal investment strategies, as applicable. |
2. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
3. | Prior to June 1, 2015, the maximum initial sales charge was 3.00%, which is reflected in the applicable average annual total return figures shown. |
4. | From June 1, 2015 to June 30, 2020, the maximum initial sales charge was 1.0%, which is reflected in the applicable average annual total return figures shown. |
Benchmark Performance* | One Year | Five Years | Ten Years |
Bloomberg 3-Year Municipal Bond Index1 | -4.50% | 0.81% | 1.02% |
Morningstar Muni National Short Category Average2 | -3.35 | 0.78 | 0.79 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | The Bloomberg 3-Year Municipal Bond Index is the Fund's primary broad-based securities-market index for comparison purposes. The Barclays 3-Year Municipal Bond Index is considered representative of the broad-based market for investment grade, tax-exempt bonds with a maturity range of 2-4 years. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly into an index. |
2. | The Morningstar Muni National Short Category Average is representative of funds that invest in bonds issued by state and local governments to fund public projects. The income from these bonds is generally free from federal taxes and/or from state taxes in the issuing state. To lower risk, some of these portfolios spread their assets across many states and sectors. Other portfolios buy bonds from only one state in order to get the state-tax benefit. These portfolios have durations of less than 4.5 years. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
6 | MainStay MacKay Short Term Municipal Fund |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $963.30 | $3.26 | $1,021.47 | $3.36 | 0.67% |
Class A2 Shares | $1,000.00 | $963.40 | $3.26 | $1,021.47 | $3.36 | 0.67% |
Investor Class Shares | $1,000.00 | $960.70 | $5.25 | $1,019.44 | $5.41 | 1.08% |
Class I Shares | $1,000.00 | $964.60 | $1.95 | $1,022.81 | $2.01 | 0.40% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the six-month period). The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
Portfolio Composition as of April 30, 2022 (Unaudited)
Top Ten Holdings and/or Issuers Held as of April 30, 2022 (excluding short-term investments) (Unaudited)
1. | Metropolitan Transportation Authority, 0.738%-5.25%, due 5/15/22–11/1/32 |
2. | State of Illinois, 4.00%-6.00%, due 5/1/22–11/1/28 |
3. | Black Belt Energy Gas District, 0.79%-4.00%, due 8/1/47–4/1/53 |
4. | Louisiana Stadium & Exposition District, 1.872%-5.00%, due 7/1/22–7/1/25 |
5. | New York Transportation Development Corp., 5.00%, due 1/1/23–12/1/29 |
6. | County of King WA, 0.67%, due 1/1/40 |
7. | Matching Fund Special Purpose Securitization Corp., 5.00%, due 10/1/25–10/1/26 |
8. | Illinois Finance Authority, 1.14%-5.00%, due 9/1/22–1/1/46 |
9. | Texas Municipal Gas Acquisition & Supply Corp. II, 1.235%, due 9/15/27 |
10. | Ohio Air Quality Development Authority, 2.10%-2.50%, due 10/1/28–11/1/42 |
8 | MainStay MacKay Short Term Municipal Fund |
10 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Municipal Bonds 95.8% | ||
Long-Term Municipal Bonds 78.8% | ||
Alabama 3.6% | ||
Alabama Community College System, Enhancements Fee, Revenue Bonds | ||
Insured: AGM | ||
3.00%, due 9/1/22 | $ 170,000 | $ 170,835 |
Insured: AGM | ||
4.00%, due 9/1/24 | 140,000 | 144,106 |
Insured: AGM | ||
4.00%, due 9/1/25 | 175,000 | 181,889 |
Insured: AGM | ||
4.00%, due 9/1/26 | 190,000 | 198,443 |
Alabama Community College System, Revenue Bonds | ||
Insured: BAM | ||
3.00%, due 6/1/23 | 245,000 | 247,251 |
Insured: BAM | ||
3.00%, due 6/1/24 | 100,000 | 100,819 |
Alabama Community College System, Wallace State Community College-Hanceville, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 11/1/26 | 260,000 | 272,660 |
Insured: BAM | ||
4.00%, due 11/1/27 | 365,000 | 384,374 |
Insured: BAM | ||
4.00%, due 11/1/28 | 260,000 | 275,978 |
Alabama Federal Aid Highway Finance Authority, Revenue Bonds | ||
Series B | ||
1.956%, due 9/1/30 | 18,500,000 | 15,904,195 |
Baldwin County Board of Education, Revenue Bonds | ||
5.00%, due 6/1/22 | 105,000 | 105,317 |
Birmingham Airport Authority, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 7/1/23 | 125,000 | 128,903 |
Insured: BAM | ||
5.00%, due 7/1/24 | 625,000 | 656,058 |
Black Belt Energy Gas District, Revenue Bonds (a) | ||
Series A | ||
4.00%, due 8/1/47 | 2,300,000 | 2,309,277 |
Series B-1 | ||
4.00%, due 4/1/53 | 3,000,000 | 3,052,516 |
Principal Amount | Value | |
Alabama (continued) | ||
Black Belt Energy Gas District, Project No.5, Revenue Bonds | ||
Series A-1 | ||
4.00%, due 10/1/49 (a) | $ 5,000,000 | $ 5,083,359 |
Black Belt Energy Gas District, Project No. 4, Revenue Bonds | ||
Series A-1 | ||
4.00%, due 12/1/49 (a) | 500,000 | 507,363 |
Black Belt Energy Gas District, Gas Project No.6, Revenue Bonds | ||
Series B | ||
4.00%, due 10/1/52 (a) | 3,500,000 | 3,558,502 |
Black Belt Energy Gas District, Project No.7, Revenue Bonds | ||
Series C-1 | ||
4.00%, due 10/1/52 (a) | 7,000,000 | 7,117,005 |
City of Bessemer AL, Limited General Obligation | ||
Series C, Insured: AGM | ||
4.00%, due 2/1/23 | 425,000 | 431,487 |
Series C, Insured: AGM | ||
4.00%, due 2/1/24 | 445,000 | 457,161 |
Series B, Insured: AGM | ||
4.00%, due 2/1/25 | 240,000 | 249,349 |
Series C, Insured: AGM | ||
4.00%, due 2/1/25 | 295,000 | 306,492 |
Series B, Insured: AGM | ||
4.00%, due 2/1/26 | 460,000 | 482,647 |
Series C, Insured: AGM | ||
4.00%, due 2/1/26 | 305,000 | 320,016 |
City of Birmingham AL, Unlimited General Obligation | ||
Series A | ||
5.00%, due 3/1/27 | 120,000 | 122,935 |
Series A | ||
5.00%, due 3/1/27 | 30,000 | 30,654 |
City of Phenix City AL, Water & Sewer, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 8/15/22 | 500,000 | 501,900 |
Coosa Valley Water Supply District, Inc., Revenue Bonds | ||
3.00%, due 10/1/22 | 100,000 | 100,607 |
4.00%, due 10/1/24 | 200,000 | 207,086 |
4.00%, due 10/1/25 | 150,000 | 156,878 |
4.00%, due 10/1/26 | 200,000 | 211,991 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Alabama (continued) | ||
County of Dallas AL, Unlimited General Obligation | ||
Series B, Insured: AGM | ||
(zero coupon), due 5/1/22 | $ 150,000 | $ 150,000 |
Series A, Insured: AGM | ||
(zero coupon), due 5/1/23 | 270,000 | 260,958 |
Series B, Insured: AGM | ||
(zero coupon), due 5/1/24 | 300,000 | 277,264 |
Series A, Insured: AGM | �� | |
(zero coupon), due 5/1/25 | 270,000 | 239,100 |
County of Lowndes AL, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 2/1/25 | 540,000 | 555,675 |
Greenville Waterworks & Sewer Board, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 3/1/27 | 205,000 | 216,253 |
Lower Alabama Gas District (The), Gas Project, Project No. 2, Revenue Bonds | ||
4.00%, due 12/1/22 | 350,000 | 353,028 |
4.00%, due 12/1/23 | 750,000 | 760,675 |
Montgomery County Public Facilities Authority, Warrants County Facilities Project, Revenue Bonds | ||
5.00%, due 3/1/25 | 270,000 | 282,642 |
Prichard Water Works & Sewer Board, Revenue Bonds | ||
5.00%, due 11/1/22 | 415,000 | 417,939 |
Southeast Alabama Gas Supply District, Project No. 1, Revenue Bonds | ||
Series A | ||
5.00%, due 4/1/24 | 1,500,000 | 1,547,896 |
Southeast Alabama Gas Supply District (The), Project No. 2, Revenue Bonds | ||
Series A | ||
4.00%, due 6/1/22 | 315,000 | 315,509 |
Series A | ||
4.00%, due 6/1/23 | 255,000 | 258,135 |
Southeast Energy Authority, A Cooperative District, Project No. 1, Revenue Bonds | ||
Series A | ||
4.00%, due 10/1/26 | 1,400,000 | 1,436,199 |
Principal Amount | Value | |
Alabama (continued) | ||
Southeast Energy Authority, A Cooperative District, Project No. 1, Revenue Bonds (continued) | ||
Series A | ||
4.00%, due 10/1/27 | $ 2,975,000 | $ 3,050,670 |
Special Care Facilities Financing Authority of the City of Pell City Alabama, Noland Health Services, Inc., Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/22 | 725,000 | 738,140 |
Series A | ||
5.00%, due 12/1/23 | 715,000 | 743,288 |
Series A | ||
5.00%, due 12/1/24 | 750,000 | 793,648 |
Series A | ||
5.00%, due 12/1/25 | 785,000 | 845,236 |
Series A | ||
5.00%, due 12/1/26 | 1,030,000 | 1,125,180 |
University of West Alabama, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 1/1/23 | 125,000 | 126,665 |
Insured: AGM | ||
4.00%, due 1/1/24 | 100,000 | 102,483 |
Insured: AGM | ||
4.00%, due 1/1/25 | 150,000 | 154,212 |
Insured: AGM | ||
5.00%, due 1/1/26 | 180,000 | 192,342 |
58,921,190 | ||
Alaska 0.7% | ||
Alaska Industrial Development & Export Authority, Tanana Chiefs Conference Project, Revenue Bonds | ||
5.00%, due 10/1/22 | 550,000 | 557,391 |
5.00%, due 10/1/23 | 585,000 | 605,837 |
Northern Tobacco Securitization Corp., Tobacco Settlement Asset-Backed, Revenue Bonds, Senior Lien | ||
Series B1, Class 2 | ||
0.50%, due 6/1/31 | 700,000 | 694,343 |
State of Alaska International Airports System, Revenue Bonds (b) | ||
Series C | ||
5.00%, due 10/1/23 | 1,150,000 | 1,187,393 |
12 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Alaska (continued) | ||
State of Alaska International Airports System, Revenue Bonds (b) (continued) | ||
Series C | ||
5.00%, due 10/1/25 | $ 1,000,000 | $ 1,060,814 |
Series C | ||
5.00%, due 10/1/26 | 1,510,000 | 1,623,924 |
Series C | ||
5.00%, due 10/1/28 | 1,000,000 | 1,092,117 |
Series C | ||
5.00%, due 10/1/29 | 3,600,000 | 3,963,852 |
10,785,671 | ||
Arizona 0.2% | ||
City of Phoenix AZ, Downtown Phoenix Student Housing LLC, Revenue Bonds | ||
5.00%, due 7/1/23 | 50,000 | 51,403 |
County of Pima AZ, Sewer System, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/22 | 250,000 | 251,494 |
Maricopa County Industrial Development Authority, Paradise Schools Project, Revenue Bonds | ||
Insured: SD CRED PROG | ||
4.00%, due 7/1/22 | 150,000 | 150,607 |
Maricopa County Unified School District No. 090 Saddle Mountain, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 7/1/22 | 400,000 | 402,385 |
Northern Arizona University, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 8/1/23 | 1,000,000 | 1,033,729 |
Salt River Project Agricultural Improvement & Power District, Salt River Project, Electric System, Revenue Bonds | ||
5.00%, due 1/1/26 | 165,000 | 179,540 |
Sedona Wastewater Municipal Property Corp., Capital Appreciation, Revenue Bonds | ||
Insured: NATL-RE | ||
(zero coupon), due 7/1/24 | 500,000 | 468,456 |
2,537,614 |
Principal Amount | Value | |
Arkansas 0.2% | ||
Alma School District No. 30, Limited General Obligation | ||
Series A, Insured: State Aid Withholding | ||
5.00%, due 8/1/22 | $ 430,000 | $ 433,859 |
Series A, Insured: State Aid Withholding | ||
5.00%, due 8/1/23 | 450,000 | 465,798 |
Series A, Insured: State Aid Withholding | ||
5.00%, due 8/1/25 | 500,000 | 539,524 |
City of Fort Smith AR, Water & Sewer, Revenue Bonds | ||
Insured: BAM | ||
2.00%, due 10/1/22 | 300,000 | 300,486 |
City of Fort Smith AR, Sales & Use Tax, Revenue Bonds | ||
4.00%, due 5/1/22 | 835,000 | 835,000 |
City of West Memphis AR, Public Utility System, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 12/1/25 | 125,000 | 130,533 |
Insured: BAM | ||
4.00%, due 12/1/26 | 190,000 | 199,621 |
County of St. Francis AR, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 8/1/24 | 915,000 | 939,814 |
3,844,635 | ||
California 5.2% | ||
Alameda Unified School District-Alameda County, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
(zero coupon), due 8/1/26 | 330,000 | 292,594 |
Alta Loma School District, Unlimited General Obligation | ||
Series B, Insured: NATL-RE | ||
(zero coupon), due 8/1/25 | 200,000 | 182,109 |
Antelope Valley Union High School District, Capital Appreciation, Election 2002, Unlimited General Obligation | ||
Series C, Insured: NATL-RE | ||
(zero coupon), due 8/1/25 | 300,000 | 272,291 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
California Community Choice Financing Authority, Clean Energy Project, Green Bond, Revenue Bonds | ||
Series B-1 | ||
4.00%, due 8/1/25 | $ 535,000 | $ 550,912 |
Series B-1 | ||
4.00%, due 2/1/26 | 420,000 | 433,545 |
Series B-1 | ||
4.00%, due 8/1/26 | 325,000 | 336,476 |
California County Tobacco Securitization Agency, Tobacco Settlement, Revenue Bonds, Senior Lien | ||
Series A | ||
4.00%, due 6/1/22 | 350,000 | 350,462 |
Series A | ||
5.00%, due 6/1/24 | 450,000 | 466,861 |
California Educational Facilities Authority, Loyola Marymount University, Revenue Bonds | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 10/1/22 | 3,000,000 | 2,977,103 |
California Educational Facilities Authority, Art Center College of Design, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/22 | 200,000 | 203,462 |
California Health Facilities Financing Authority, Lundquist Institute For Biomedical Innovation, Revenue Bonds | ||
4.00%, due 9/1/22 | 300,000 | 302,350 |
4.00%, due 9/1/23 | 310,000 | 316,764 |
California Municipal Finance Authority, NCROC Paradise Valley Estates Project, Revenue Bonds | ||
Insured: California Mortgage Insurance | ||
2.00%, due 7/1/24 | 65,000 | 64,026 |
California Municipal Finance Authority, CHF-Davis I LLC - West Village Student Housing Project, Revenue Bonds | ||
5.00%, due 5/15/23 | 1,770,000 | 1,806,098 |
5.00%, due 5/15/24 | 1,200,000 | 1,243,380 |
Principal Amount | Value | |
California (continued) | ||
California Municipal Finance Authority, LINXS APM Project, Revenue Bonds, Senior Lien (b) | ||
5.00%, due 12/31/23 | $ 1,400,000 | $ 1,448,130 |
5.00%, due 6/30/25 | 685,000 | 721,818 |
California School Finance Authority, Kipp SoCal Public Schools Project, Revenue Bonds (c) | ||
Series A | ||
5.00%, due 7/1/24 | 100,000 | 103,963 |
Series A | ||
5.00%, due 7/1/25 | 105,000 | 110,422 |
California State Public Works Board, Various Capital Projects, Revenue Bonds | ||
Series B | ||
5.00%, due 5/1/24 | 230,000 | 241,504 |
California State Public Works Board, Department of State Hospitals, Revenue Bonds | ||
5.00%, due 6/1/24 | 50,000 | 51,481 |
Central Basin Municipal Water District, Revenue Bonds | ||
Series B, Insured: BAM | ||
1.586%, due 8/1/22 | 400,000 | 400,144 |
Series B, Insured: BAM | ||
1.686%, due 8/1/23 | 430,000 | 424,480 |
Series B, Insured: BAM | ||
1.936%, due 8/1/24 | 600,000 | 581,549 |
Series B, Insured: BAM | ||
2.213%, due 8/1/25 | 740,000 | 706,922 |
Chino Basin Regional Financing Authority, Revenue Bonds | ||
Series B | ||
4.00%, due 11/1/25 | 2,665,000 | 2,782,828 |
City of Fresno CA, Airport, Revenue Bonds | ||
Series B | ||
5.00%, due 7/1/23 (b) | 690,000 | 709,133 |
City of Los Angeles CA, Department of Airports, Revenue Bonds (b) | ||
5.00%, due 5/15/22 | 1,180,000 | 1,181,464 |
Series D | ||
5.00%, due 5/15/22 | 1,000,000 | 1,001,197 |
5.00%, due 5/15/24 | 500,000 | 521,399 |
14 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
City of Los Angeles CA, Department of Airports, Revenue Bonds, Senior Lien | ||
Series C | ||
5.00%, due 5/15/27 (b) | $ 3,080,000 | $ 3,362,891 |
City of Montebello CA, Revenue Bonds | ||
Insured: AGM | ||
2.173%, due 6/1/23 | 2,000,000 | 1,987,001 |
City of Palm Springs CA, Airport Passenger Facility Charge, Revenue Bonds (b) | ||
5.00%, due 6/1/22 | 400,000 | 401,052 |
Insured: BAM | ||
5.00%, due 6/1/25 | 925,000 | 976,403 |
Insured: BAM | ||
5.00%, due 6/1/28 | 655,000 | 690,433 |
City of Sacramento CA, Transient Occupancy Tax, Revenue Bonds | ||
5.00%, due 6/1/22 | 275,000 | 275,713 |
5.00%, due 6/1/23 | 850,000 | 872,148 |
Series C | ||
5.00%, due 6/1/25 | 495,000 | 525,500 |
Series A | ||
5.00%, due 6/1/26 | 1,375,000 | 1,485,510 |
Series C | ||
5.00%, due 6/1/26 | 500,000 | 539,187 |
City of Sacramento CA, Airport System, Revenue Bonds | ||
Series E | ||
5.00%, due 7/1/25 | 260,000 | 277,213 |
City of Vernon CA, Electric System, Revenue Bonds | ||
Series A | ||
4.00%, due 10/1/22 | 1,000,000 | 1,007,628 |
Clovis Unified School District, Capital Appreciation, Election 2004, Unlimited General Obligation | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 8/1/24 | 280,000 | 263,676 |
El Camino Healthcare District, Capital Appreciation, Unlimited General Obligation | ||
Insured: NATL-RE | ||
(zero coupon), due 8/1/26 | 380,000 | 335,099 |
Principal Amount | Value | |
California (continued) | ||
Empire Union School District, Community Facilities District No. 1987-1, Special Tax | ||
Insured: AMBAC | ||
(zero coupon), due 10/1/22 | $ 155,000 | $ 153,704 |
Foothill-Eastern Transportation Corridor Agency, Revenue Bonds, Senior Lien | ||
Series A | ||
(zero coupon), due 1/1/27 | 4,500,000 | 3,975,327 |
Fullerton Redevelopment Agency, Tax Allocation | ||
Series A, Insured: BAM | ||
4.00%, due 9/1/24 | 125,000 | 129,239 |
Golden West Schools Financing Authority, Revenue Bonds | ||
Series A, Insured: NATL-RE | ||
5.80%, due 2/1/23 | 115,000 | 118,207 |
Grossmont Union High School District, Election 2004, Unlimited General Obligation | ||
Insured: NATL-RE | ||
(zero coupon), due 8/1/26 | 1,955,000 | 1,727,603 |
Independent Cities Finance Authority, Sales Tax, Revenue Bonds (c) | ||
Insured: AGM | ||
4.00%, due 6/1/22 | 150,000 | 150,286 |
Insured: AGM | ||
4.00%, due 6/1/24 | 150,000 | 153,234 |
Insured: AGM | ||
4.00%, due 6/1/25 | 510,000 | 524,690 |
Insured: AGM | ||
4.00%, due 6/1/26 | 175,000 | 181,152 |
Kern Community College District, Facilities Improvement District No. 1, Unlimited General Obligation | ||
(zero coupon), due 8/1/23 | 6,000,000 | 5,768,051 |
Lakeside Union School District, Unlimited General Obligation | ||
Series C | ||
4.00%, due 8/1/24 | 220,000 | 227,668 |
Los Angeles Department of Water & Power System, Revenue Bonds | ||
Series D | ||
5.00%, due 7/1/22 | 100,000 | 100,613 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
Los Angeles Unified School District, Unlimited General Obligation | ||
Series C | ||
5.00%, due 7/1/23 | $ 2,000,000 | $ 2,068,520 |
Madera Unified School District, Capital Appreciation, Election 2002, Unlimited General Obligation | ||
Insured: NATL-RE | ||
(zero coupon), due 8/1/25 | 250,000 | 227,490 |
Mammoth Unified School District, Unlimited General Obligation | ||
Insured: NATL-RE | ||
(zero coupon), due 8/1/26 | 280,000 | 248,990 |
Manteca Unified School District, Capital Appreciation, Election 2004, Unlimited General Obligation | ||
Insured: NATL-RE | ||
(zero coupon), due 8/1/25 | 325,000 | 295,076 |
Marysville Joint Unified School District, Energy Effeciency Projects, Green Bond, Certificate of Participation | ||
Insured: BAM | ||
4.00%, due 6/1/23 | 470,000 | 479,350 |
Insured: BAM | ||
4.00%, due 6/1/24 | 400,000 | 412,297 |
Insured: BAM | ||
4.00%, due 6/1/25 | 455,000 | 474,508 |
Insured: BAM | ||
4.00%, due 6/1/26 | 475,000 | 500,459 |
Merced Irrigation District Financing Authority, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 10/1/22 | 250,000 | 253,682 |
Mount Diablo Unified School District, Capital Appreciation, Election 2010, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
(zero coupon), due 8/1/25 (d) | 445,000 | 466,778 |
Norman Y Mineta San Jose International Airport SJC, Revenue Bonds | ||
Series A | ||
5.00%, due 3/1/24 (b) | 250,000 | 259,881 |
Principal Amount | Value | |
California (continued) | ||
North Coast County Water District, Certificate of Participation | ||
Insured: AGM | ||
4.00%, due 10/1/22 | $ 255,000 | $ 257,609 |
Insured: AGM | ||
4.00%, due 10/1/23 | 135,000 | 138,383 |
Insured: AGM | ||
4.00%, due 10/1/24 | 170,000 | 176,306 |
Insured: AGM | ||
4.00%, due 10/1/25 | 150,000 | 157,278 |
Insured: AGM | ||
4.00%, due 10/1/26 | 200,000 | 211,562 |
North Orange County Community College District, Capital, Appreciation, Election 2002, Unlimited General Obligation | ||
Insured: NATL-RE | ||
(zero coupon), due 8/1/22 | 200,000 | 199,259 |
Oakland Unified School District, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 8/1/24 | 250,000 | 263,357 |
Ontario International Airport Authority, Revenue Bonds | ||
Insured: AGM | ||
2.634%, due 5/15/23 | 1,000,000 | 1,001,389 |
Peninsula Corridor Joint Powers Board, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/22 | 550,000 | 557,391 |
Series A | ||
5.00%, due 10/1/23 | 585,000 | 605,920 |
Pittsburg Successor Agency Redevelopment Agency, Tax Allocation | ||
Series A, Insured: AGM | ||
5.00%, due 9/1/24 | 1,250,000 | 1,312,651 |
Port of Oakland, Revenue Bonds, Senior Lien | ||
Series P | ||
5.00%, due 5/1/24 (b) | 625,000 | 625,000 |
Ripon Redevelopment Agency, Tax Allocation | ||
Insured: BAM | ||
3.00%, due 11/1/25 | 20,000 | 20,252 |
16 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
Riverside County Asset Leasing Corp., Riverside County Hospital Project, Revenue Bonds | ||
Insured: NATL-RE | ||
(zero coupon), due 6/1/25 | $ 2,205,000 | $ 2,007,491 |
Riverside County Public Financing Authority, Project Area No. 1 Desert Communities & Interstate 215 Corridor Project, Tax Allocation | ||
Series A, Insured: BAM | ||
5.00%, due 10/1/25 | 500,000 | 539,658 |
Sacramento City Financing Authority, Capital Appreciation, Tax Allocation | ||
Insured: NATL-RE | ||
(zero coupon), due 12/1/23 | 1,115,000 | 1,067,512 |
Sacramento City Unified School District, Unlimited General Obligation | ||
Series E | ||
5.00%, due 8/1/23 | 300,000 | 309,369 |
San Bernardino County Redevelopment Agency Successor Agency, Tax Allocation | ||
Series A, Insured: AGM | ||
1.057%, due 9/1/23 | 280,000 | 273,197 |
San Diego County Regional Airport Authority, Revenue Bonds, Senior Lien | ||
Series B | ||
5.00%, due 7/1/24 (b) | 1,350,000 | 1,393,408 |
San Diego County Regional Airport Authority, Revenue Bonds | ||
Series B | ||
5.00%, due 7/1/27 (b) | 3,000,000 | 3,240,168 |
San Francisco City & County Airport Commission, San Francisco International Airport, Revenue Bonds, Second Series | ||
Series D | ||
5.00%, due 5/1/25 (b) | 210,000 | 221,395 |
San Francisco City & County Airport Comm-San Francisco International Airport, Airpport Special Facilities, SFO Fuel Co. LLC, Revenue Bonds | ||
5.00%, due 1/1/23 (b) | 1,100,000 | 1,120,447 |
Principal Amount | Value | |
California (continued) | ||
San Joaquin Hills Transportation Corridor Agency, Toll Road, Revenue Bonds | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 1/15/25 | $ 1,000,000 | $ 915,720 |
San Mateo County Community College District, Election 2005, Unlimited General Obligation | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 9/1/24 | 1,455,000 | 1,372,596 |
San Mateo County Community College District, Capital Appreciation, Election 2005, Unlimited General Obligation | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 9/1/26 | 1,100,000 | 976,983 |
San Ysidro School District, Capital Appreciation, Election 1997, Unlimited General Obligation | ||
Series D, Insured: NATL-RE | ||
(zero coupon), due 8/1/22 | 300,000 | 298,482 |
Series D, Insured: NATL-RE | ||
(zero coupon), due 8/1/25 | 400,000 | 358,333 |
San Ysidro School District, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 8/1/22 | 1,320,000 | 1,331,287 |
Santa Cruz City Elementary School District, Capital Appreciation, Election 1998, Unlimited General Obligation | ||
Insured: AGM | ||
(zero coupon), due 2/1/23 | 100,000 | 98,492 |
Santa Cruz County Redevelopment Successor Agency, Tax Allocation | ||
Insured: BAM | ||
5.00%, due 9/1/24 | 390,000 | 411,989 |
Saugus Union School District, Unlimited General Obligation | ||
Insured: NATL-RE | ||
(zero coupon), due 8/1/22 | 100,000 | 99,593 |
State of California, Unlimited General Obligation | ||
Series CT | ||
0.35%, due 12/1/22 | 1,990,000 | 1,974,961 |
5.00%, due 3/1/24 | 125,000 | 131,202 |
5.00%, due 3/1/25 | 270,000 | 288,714 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
State of California, Various Purpose, Unlimited General Obligation | ||
1.75%, due 11/1/30 | $ 5,000,000 | $ 4,302,964 |
Tobacco Securitization Authority of Northern California, Sacramento County Tobacco Securitization Corp., Revenue Bonds, Senior Lien | ||
0.45%, due 6/1/30 | 105,000 | 104,870 |
Transbay Joint Powers Authority, Green Bond, Tax Allocation, Senior Lien | ||
2.17%, due 10/1/22 | 750,000 | 751,888 |
Tulare Union High School District, Capital Appreciation, Election of 2004, Unlimited General Obligation | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 8/1/26 | 1,000,000 | 874,862 |
Upper Lake Union High School District, Unlimited General Obligation | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 8/1/23 | 255,000 | 247,103 |
Vacaville Unified School District, Unlimited General Obligation | ||
Series D | ||
4.00%, due 8/1/25 | 125,000 | 130,807 |
Victor Elementary School District, Unlimited General Obligation | ||
Series B, Insured: NATL-RE | ||
(zero coupon), due 8/1/27 | 350,000 | 297,298 |
Vista Unified School District, Capital Appreciation, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
(zero coupon), due 8/1/26 | 325,000 | 286,118 |
Yuba City Unified School District, Capital Appreciation, Unlimited General Obligation | ||
Insured: NATL-RE | ||
(zero coupon), due 3/1/25 | 1,025,000 | 943,358 |
84,577,748 | ||
Colorado 1.8% | ||
Arkansas River Power Authority, Revenue Bonds | ||
Series B | ||
4.082%, due 10/1/22 | 1,880,000 | 1,886,097 |
Principal Amount | Value | |
Colorado (continued) | ||
City & County of Denver CO, Revenue Bonds | ||
Series A | ||
5.00%, due 11/15/22 (b) | $ 720,000 | $ 731,356 |
Series A | ||
5.00%, due 11/15/23 | 520,000 | 540,273 |
Series B1 | ||
5.00%, due 11/15/23 (b) | 940,000 | 973,621 |
Series B1 | ||
5.00%, due 11/15/24 (b) | 6,275,000 | 6,585,848 |
Colliers Hill Metropolitan District No. 2 CO, Limited General Obligation | ||
Series A | ||
6.50%, due 12/1/47 | 1,000,000 | 1,055,844 |
Colorado Educational & Cultural Facilities Authority, Johnson & Wales University Project, Revenue Bonds | ||
Series A | ||
4.00%, due 4/1/23 | 315,000 | 320,602 |
Series B | ||
5.00%, due 4/1/24 | 500,000 | 513,382 |
Colorado Educational & Cultural Facilities Authority, Westgate Community School Project, Revenue Bonds | ||
Series A, Insured: Moral Obligation | ||
4.00%, due 7/1/23 | 50,000 | 50,963 |
Series A, Insured: Moral Obligation | ||
4.00%, due 7/1/24 | 150,000 | 154,291 |
Series A, Insured: Moral Obligation | ||
4.00%, due 7/1/25 | 155,000 | 161,225 |
Series A, Insured: Moral Obligation | ||
4.00%, due 7/1/26 | 160,000 | 167,166 |
Series A, Insured: Moral Obligation | ||
4.00%, due 7/1/27 | 170,000 | 178,321 |
Colorado Educational & Cultural Facilities Authority, Banning Lewis Ranch Academy Building Co. LLC, Revenue Bonds | ||
Series A, Insured: Moral Obligation | ||
4.00%, due 12/15/23 | 255,000 | 261,426 |
Series A, Insured: Moral Obligation | ||
4.00%, due 12/15/24 | 265,000 | 273,970 |
Series A, Insured: Moral Obligation | ||
4.00%, due 12/15/25 | 275,000 | 287,087 |
Series A, Insured: Moral Obligation | ||
4.00%, due 12/15/26 | 150,000 | 157,309 |
18 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Colorado (continued) | ||
Colorado School of Mines, Capital Appreciation, Revenue Bonds | ||
Insured: NATL-RE | ||
(zero coupon), due 12/1/25 | $ 100,000 | $ 90,456 |
Copperleaf Metropolitan District No. 2, Limited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/23 | 300,000 | 307,912 |
Insured: BAM | ||
4.00%, due 12/1/26 | 385,000 | 407,894 |
Crystal Valley Metropolitan District No. 2, Limited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 12/1/22 | 100,000 | 101,888 |
Series A, Insured: AGM | ||
5.00%, due 12/1/23 | 140,000 | 145,738 |
Series A, Insured: AGM | ||
5.00%, due 12/1/24 | 175,000 | 185,589 |
Series A, Insured: AGM | ||
5.00%, due 12/1/25 | 250,000 | 270,248 |
Series A, Insured: AGM | ||
5.00%, due 12/1/26 | 225,000 | 247,008 |
Dawson Ridge Metropolitan District No. 1, Limited General Obligation | ||
Series A | ||
(zero coupon), due 10/1/22 | 1,420,000 | 1,411,119 |
Denver Urban Renewal Authority, Tax Allocation, Senior Lien | ||
Series A-1 | ||
5.00%, due 12/1/23 | 375,000 | 380,472 |
E-470 Public Highway Authority, Revenue Bonds | ||
Series B, Insured: NATL-RE | ||
(zero coupon), due 9/1/26 | 250,000 | 220,907 |
Series A, Insured: NATL-RE | ||
(zero coupon), due 9/1/28 | 3,080,000 | 2,536,078 |
Eagle County Airport Terminal Corp., Revenue Bonds | ||
Series B | ||
4.00%, due 5/1/24 (b) | 330,000 | 336,368 |
El Paso County School District No. 3 Widefield, Recreation Facility Project, Certificate of Participation | ||
Insured: AGM | ||
4.00%, due 12/1/22 | 175,000 | 177,212 |
Principal Amount | Value | |
Colorado (continued) | ||
Erie Commons Metropolitan District No. 2, Limited General Obligation, Senior Lien | ||
Series A, Insured: AGM | ||
5.00%, due 12/1/23 | $ 130,000 | $ 135,431 |
Erie Highlands Metropolitan District No. 1, Limited General Obligation | ||
Insured: BAM | ||
3.00%, due 12/1/24 | 245,000 | 247,984 |
Flying Horse Metropolitan District No. 2, Limited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 12/1/24 | 325,000 | 335,787 |
Series A, Insured: AGM | ||
4.00%, due 12/1/25 | 395,000 | 412,210 |
Goldsmith Metropolitan District, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 12/1/22 | 100,000 | 101,438 |
Insured: AGM | ||
4.00%, due 12/1/24 | 120,000 | 124,469 |
Insured: AGM | ||
4.00%, due 12/1/25 | 125,000 | 130,969 |
Insured: AGM | ||
4.00%, due 12/1/26 | 135,000 | 142,490 |
Leyden Rock Metropolitan District, Limited General Obligation | ||
Insured: AGM | ||
5.00%, due 12/1/22 | 180,000 | 183,430 |
Insured: AGM | ||
5.00%, due 12/1/23 | 250,000 | 260,564 |
Insured: AGM | ||
5.00%, due 12/1/24 | 235,000 | 249,825 |
Insured: AGM | ||
5.00%, due 12/1/25 | 285,000 | 308,590 |
Insured: AGM | ||
5.00%, due 12/1/26 | 335,000 | 368,678 |
Insured: AGM | ||
5.00%, due 12/1/27 | 365,000 | 407,526 |
Insured: AGM | ||
5.00%, due 12/1/28 | 330,000 | 373,384 |
Morgan County Quality Water District, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 12/1/25 | 100,000 | 104,566 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Colorado (continued) | ||
North Pine Vistas Metropolitan District No. 3, Limited General Obligation, Senior Lien | ||
Series A, Insured: AGM | ||
5.00%, due 12/1/22 | $ 50,000 | $ 50,874 |
Series A, Insured: AGM | ||
5.00%, due 12/1/23 | 95,000 | 98,639 |
Series A, Insured: AGM | ||
5.00%, due 12/1/25 | 155,000 | 166,949 |
Poudre Tech Metropolitan District, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 12/1/23 | 400,000 | 403,456 |
Insured: AGM | ||
3.00%, due 12/1/24 | 400,000 | 403,873 |
Insured: AGM | ||
3.00%, due 12/1/25 | 150,000 | 151,710 |
Insured: AGM | ||
3.00%, due 12/1/27 | 170,000 | 171,889 |
Regional Transportation District, Denver Transit Partners Eagle P3 Project, Revenue Bonds | ||
3.00%, due 7/15/23 | 100,000 | 100,620 |
5.00%, due 1/15/24 | 400,000 | 414,655 |
5.00%, due 7/15/24 | 300,000 | 310,521 |
5.00%, due 1/15/25 | 325,000 | 338,396 |
5.00%, due 7/15/25 | 400,000 | 419,013 |
Saddle Rock Metropolitan District, Unlimited General Obligation | ||
Insured: BAM | ||
2.25%, due 12/1/25 | 25,000 | 24,498 |
Insured: BAM | ||
3.00%, due 12/1/22 | 75,000 | 75,566 |
Sand Creek Metropolitan District, Limited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 12/1/22 | 125,000 | 126,652 |
Series A, Insured: AGM | ||
4.00%, due 12/1/24 | 565,000 | 584,466 |
Triview Metropolitan District, Green Bond, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 12/1/22 | 210,000 | 214,026 |
Insured: BAM | ||
5.00%, due 12/1/24 | 315,000 | 334,871 |
Insured: BAM | ||
5.00%, due 12/1/25 | 255,000 | 276,107 |
Principal Amount | Value | |
Colorado (continued) | ||
Vauxmont Metropolitan District, Limited General Obligation | ||
Insured: AGM | ||
5.00%, due 12/15/22 | $ 100,000 | $ 101,815 |
29,773,607 | ||
Connecticut 1.3% | ||
City of Bridgeport CT, Unlimited General Obligation | ||
Series A | ||
5.00%, due 6/1/23 | 600,000 | 618,229 |
Series A | ||
5.00%, due 6/1/24 | 865,000 | 908,824 |
City of Hartford CT, Unlimited General Obligation | ||
Series A, Insured: State Guaranteed | ||
5.00%, due 4/1/23 | 490,000 | 503,519 |
Series A, Insured: BAM State Guaranteed | ||
5.00%, due 12/1/25 | 1,875,000 | 2,022,863 |
Series A, Insured: BAM State Guaranteed | ||
5.00%, due 12/1/26 | 1,760,000 | 1,931,359 |
City of New Haven CT, Unlimited General Obligation | ||
Series C, Insured: AGM | ||
2.307%, due 8/1/22 | 700,000 | 701,305 |
Series A | ||
5.25%, due 8/1/25 | 155,000 | 166,945 |
City of West Haven CT, Unlimited General Obligation | ||
4.00%, due 9/15/22 | 175,000 | 176,530 |
Insured: BAM | ||
4.00%, due 3/15/23 | 250,000 | 254,173 |
4.00%, due 9/15/23 | 290,000 | 296,381 |
Insured: BAM | ||
4.00%, due 3/15/24 | 380,000 | 390,829 |
4.00%, due 9/15/24 | 255,000 | 263,057 |
4.00%, due 9/15/25 | 255,000 | 265,555 |
Insured: BAM | ||
4.00%, due 3/15/26 | 200,000 | 210,039 |
4.00%, due 9/15/26 | 255,000 | 267,258 |
Connecticut State Higher Education Supplement Loan Authority, Chesla Loan Program, Revenue Bonds | ||
3.00%, due 11/15/25 | 800,000 | 779,233 |
5.00%, due 11/15/22 (b) | 425,000 | 432,228 |
5.00%, due 11/15/23 | 200,000 | 207,736 |
20 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Connecticut (continued) | ||
Connecticut State Higher Education Supplement Loan Authority, Chesla Loan Program, Revenue Bonds (continued) | ||
5.00%, due 11/15/24 | $ 765,000 | $ 807,690 |
Series B | ||
5.00%, due 11/15/24 (b) | 255,000 | 268,909 |
5.00%, due 11/15/25 (b) | 1,000,000 | 1,071,365 |
Greater New Haven Water Pollution Control Authority, Revenue Bonds | ||
Series B | ||
5.00%, due 8/15/22 | 250,000 | 252,535 |
State of Connecticut, Unlimited General Obligation | ||
Series C | ||
4.00%, due 6/15/22 | 2,210,000 | 2,217,306 |
Series B | ||
4.00%, due 3/1/24 | 100,000 | 101,743 |
Series C | ||
5.00%, due 6/15/23 | 1,500,000 | 1,549,501 |
State of Connecticut, Transportation Infrastructure, Special Tax, Revenue Bonds | ||
5.00%, due 5/1/22 | 400,000 | 400,000 |
5.00%, due 5/1/23 | 675,000 | 694,056 |
Town of Fairfield CT, Unlimited General Obligation | ||
5.00%, due 8/1/25 | 685,000 | 691,147 |
Town of Hamden CT, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 8/15/27 | 325,000 | 345,178 |
Insured: BAM | ||
5.00%, due 8/15/22 | 300,000 | 303,007 |
Series A, Insured: BAM | ||
5.00%, due 8/15/25 | 370,000 | 398,957 |
Town of Windham CT, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 8/15/26 | 810,000 | 860,839 |
Series A, Insured: BAM | ||
4.00%, due 8/15/27 | 825,000 | 885,468 |
21,243,764 |
Principal Amount | Value | |
Delaware 0.2% | ||
Delaware Municipal Electric Corp. (The), Beasley Power Station Project, Revenue Bonds | ||
5.00%, due 7/1/25 | $ 325,000 | $ 349,888 |
5.00%, due 7/1/26 | 375,000 | 410,574 |
Delaware State Economic Development Authority, Newark Charter School, Inc. Project, Revenue Bonds | ||
4.00%, due 9/1/22 | 340,000 | 341,598 |
4.00%, due 9/1/22 | 85,000 | 85,400 |
4.00%, due 9/1/24 | 370,000 | 373,176 |
4.00%, due 9/1/24 | 130,000 | 131,116 |
4.00%, due 9/1/25 | 105,000 | 105,866 |
4.00%, due 9/1/26 | 140,000 | 140,828 |
Delaware State Health Facilities Authority, Bayhealth Medical Center Project, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/22 | 125,000 | 125,745 |
Delaware Transportation Authority, Revenue Bonds | ||
5.00%, due 9/1/26 | 1,150,000 | 1,257,835 |
3,322,026 | ||
District of Columbia 0.5% | ||
District of Columbia, KIPP DC Project, Revenue Bonds | ||
5.00%, due 7/1/22 | 200,000 | 200,864 |
District of Columbia, Association of American Medical Colleges, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/23 | 100,000 | 103,973 |
District of Columbia, Gallery Place Project, Tax Allocation | ||
5.00%, due 6/1/27 | 1,720,000 | 1,723,613 |
District of Columbia, Friendship Public Charter School, Inc., Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/42 | 2,000,000 | 2,035,316 |
Metropolitan Washington Airports Authority, Airport System, Revenue Bonds (b) | ||
5.00%, due 10/1/24 | 320,000 | 335,941 |
Series A | ||
5.00%, due 10/1/24 | 445,000 | 467,168 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
District of Columbia (continued) | ||
Metropolitan Washington Airports Authority, Airport System, Revenue Bonds (b) (continued) | ||
Series A | ||
5.00%, due 10/1/25 | $ 225,000 | $ 239,208 |
5.00%, due 10/1/26 | 930,000 | 1,000,165 |
Series A | ||
5.00%, due 10/1/27 | 1,000,000 | 1,043,319 |
Metropolitan Washington Airports Authority Dulles Toll Road, Dulles Toll Road, Revenue Bonds, Senior Lien | ||
Series B, Insured: AGC | ||
(zero coupon), due 10/1/23 | 500,000 | 480,589 |
7,630,156 | ||
Florida 2.1% | ||
Broward County, Water & Sewer Utility, Revenue Bonds | ||
Series B | ||
5.00%, due 10/1/25 | 630,000 | 681,255 |
Central Florida Expressway Authority, Revenue Bonds, Senior Lien | ||
Series A | ||
5.00%, due 7/1/22 | 380,000 | 382,321 |
Centre Lake Community Development District, Special Assessment | ||
2.75%, due 5/1/27 | 235,000 | 219,191 |
City of Delray Beach FL, Revenue Bonds | �� | |
5.00%, due 6/1/24 | 100,000 | 105,254 |
City of Gainesville FL, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/22 | 150,000 | 152,197 |
City of Jacksonville FL, Sales Tax, Revenue Bonds | ||
5.00%, due 10/1/27 | 1,285,000 | 1,300,189 |
City of Lake Worth Beach FL, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 7/1/25 | 250,000 | 268,277 |
City of Orlando FL, Tourist Development Tax, Revenue Bonds, Senior Lien | ||
Insured: AGM | ||
5.00%, due 11/1/25 | 1,095,000 | 1,189,120 |
Principal Amount | Value | |
Florida (continued) | ||
City of Palm Bay FL, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 7/1/24 | $ 1,970,000 | $ 2,077,685 |
Insured: AGM | ||
5.00%, due 7/1/25 | 1,035,000 | 1,113,276 |
City of Tampa FL, H Lee Moffitt Cancer Center Project, Revenue Bonds | ||
5.00%, due 7/1/23 | 75,000 | 77,455 |
5.00%, due 7/1/24 | 300,000 | 314,650 |
5.00%, due 7/1/25 | 425,000 | 453,802 |
Clay County School Board, Certificate of Participation | ||
Insured: AGM | ||
5.00%, due 7/1/24 | 100,000 | 100,557 |
County of Broward FL, Airport System, Revenue Bonds | ||
Series P-2 | ||
3.25%, due 10/1/22 | 1,000,000 | 1,006,263 |
County of Broward FL, Port Facilities, Revenue Bonds | ||
Series C | ||
5.00%, due 9/1/22 | 325,000 | 328,765 |
Series B, Insured: AGM-CR | ||
5.00%, due 9/1/23 (b) | 365,000 | 365,750 |
Series D | ||
5.00%, due 9/1/23 (b) | 1,000,000 | 1,034,946 |
County of Miami-Dade FL, Aviation, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/24 | 2,500,000 | 2,630,512 |
Series A | ||
5.00%, due 10/1/25 | 250,000 | 267,462 |
Series B | ||
5.00%, due 10/1/25 | 735,000 | 745,642 |
Series A | ||
5.00%, due 10/1/28 (b) | 2,210,000 | 2,328,832 |
County of Osceola FL, Transportation, Revenue Bonds | ||
Series A-1 | ||
5.00%, due 10/1/22 | 250,000 | 252,563 |
County of St Lucie FL, Sales Tax, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 10/1/25 | 100,000 | 103,902 |
22 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Florida (continued) | ||
Florida Municipal Power Agency, St. Lucie Project, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/26 | $ 555,000 | $ 562,867 |
Greater Orlando Aviation Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/22 (b) | 6,270,000 | 6,350,092 |
Greater Orlando Aviation Authority, Airport Facilities, Revenue Bonds (b) | ||
Series A | ||
5.00%, due 10/1/23 | 290,000 | 300,493 |
Series A | ||
5.00%, due 10/1/23 | 210,000 | 217,124 |
Series A | ||
5.00%, due 10/1/25 | 540,000 | 580,998 |
Series A | ||
5.00%, due 10/1/25 | 265,000 | 281,116 |
Herons Glen Recreation District, Special Assessment | ||
Insured: BAM | ||
2.50%, due 5/1/22 | 225,000 | 225,000 |
Insured: BAM | ||
2.50%, due 5/1/23 | 230,000 | 229,605 |
Insured: BAM | ||
2.50%, due 5/1/24 | 150,000 | 148,593 |
Hillsborough County Industrial Development Authority, Tampa General Hospital Project, Revenue Bonds | ||
Series A | ||
5.00%, due 8/1/25 | 260,000 | 278,870 |
Series A | ||
5.00%, due 8/1/26 | 315,000 | 343,796 |
Lakewood Ranch Stewardship District, Lakewood Center and NW Sector Projects, Special Assessment, Senior Lien | ||
Insured: AGM | ||
1.041%, due 5/1/22 | 1,070,000 | 1,070,000 |
Insured: AGM | ||
1.164%, due 5/1/23 | 540,000 | 533,337 |
Principal Amount | Value | |
Florida (continued) | ||
Lee County Industrial Development Authority, Cypress Cove at Healthpark Florida, Inc. Memory Care Project, Revenue Bonds | ||
4.50%, due 10/1/32 | $ 145,000 | $ 149,656 |
Miami-Dade County Expressway Authority, Revenue Bonds | ||
Series B | ||
5.00%, due 7/1/25 | 265,000 | 278,855 |
Orange County Convention Center, Revenue Bonds | ||
5.00%, due 10/1/22 | 355,000 | 359,667 |
Orange County Health Facilities Authority, AdventHealth Obligated Group, Revenue Bonds | ||
Series C | ||
5.00%, due 11/15/52 (a) | 2,340,000 | 2,547,253 |
St. Lucie County School Board, Certificate of Participation | ||
Insured: AGM | ||
3.00%, due 8/15/26 | 400,000 | 402,282 |
St. Lucie County School Board, Sales tax, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 10/1/23 | 130,000 | 134,686 |
State of Florida, Right-of-Way Acquisition and Bridge Construction, Unlimited General Obligation | ||
5.00%, due 7/1/23 | 350,000 | 361,950 |
University of North Florida Financing Corp. (The), Housing Project, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 11/1/22 | 1,000,000 | 1,016,221 |
33,872,327 | ||
Georgia 1.6% | ||
Atlanta Development Authority (The), Piedmont Ellis LLC, Revenue Bonds | ||
3.50%, due 9/1/35 | 100,000 | 101,572 |
Brookhaven Development Authority, Children's Healthcare of Atlanta, Revenue Bonds | ||
5.00%, due 7/1/22 | 700,000 | 704,104 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Georgia (continued) | ||
City of Cochran GA, Water & Sewer System, Revenue Bonds | ||
Insured: BAM | ||
3.00%, due 4/1/25 | $ 120,000 | $ 121,191 |
City of Dalton GA, Georgia Combined Utilities, Revenue Bonds | ||
5.00%, due 3/1/23 | 500,000 | 512,187 |
5.00%, due 3/1/24 | 400,000 | 418,143 |
5.00%, due 3/1/25 | 500,000 | 533,102 |
County of Paulding GA, Water & Sewerage, Revenue Bonds | ||
5.00%, due 12/1/22 | 100,000 | 101,941 |
Georgia State Road & Tollway Authority, Revenue Bonds | ||
Series B, Insured: State Guaranteed | ||
5.00%, due 10/1/22 | 100,000 | 101,469 |
Main Street Natural Gas, Inc., Revenue Bonds | ||
Series C | ||
4.00%, due 5/1/52 (a) | 8,555,000 | 8,718,396 |
Series A | ||
5.00%, due 5/15/22 | 550,000 | 550,551 |
Series A | ||
5.00%, due 5/15/23 | 1,110,000 | 1,133,565 |
Municipal Electric Authority of Georgia, Combined Cycle Project, Revenue Bonds | ||
Series A | ||
3.00%, due 11/1/22 | 445,000 | 447,306 |
Municipal Electric Authority of Georgia, Project One Subordinated Bonds, Revenue Bonds | ||
5.00%, due 1/1/23 | 4,550,000 | 4,635,787 |
5.00%, due 1/1/24 | 2,500,000 | 2,596,279 |
5.00%, due 1/1/25 | 1,000,000 | 1,059,574 |
Municipal Electric Authority of Georgia, Plant Vogtle Units 3 & 4 Project, Revenue Bonds | ||
5.00%, due 1/1/23 | 350,000 | 356,599 |
5.00%, due 1/1/24 | 445,000 | 462,138 |
5.00%, due 1/1/25 | 450,000 | 476,213 |
Private Colleges & Universities Authority, Savannah College of Art & Design, Revenue Bonds | ||
5.00%, due 4/1/23 | 335,000 | 343,935 |
5.00%, due 4/1/24 | 115,000 | 120,349 |
Principal Amount | Value | |
Georgia (continued) | ||
Private Colleges & Universities Authority, Savannah College of Art & Design, Revenue Bonds (continued) | ||
5.00%, due 4/1/25 | $ 600,000 | $ 636,936 |
Private Colleges & Universities Authority, Mercer University Project, Revenue Bonds | ||
5.00%, due 10/1/23 | 325,000 | 336,255 |
5.00%, due 10/1/24 | 300,000 | 315,016 |
5.00%, due 10/1/25 | 425,000 | 453,259 |
5.00%, due 10/1/26 | 625,000 | 673,222 |
25,909,089 | ||
Guam 0.4% | ||
Antonio B Won Pat International Airport Authority, Revenue Bonds | ||
Series B | ||
3.133%, due 10/1/24 | 1,310,000 | 1,309,190 |
Series B | ||
3.133%, due 10/1/24 | 630,000 | 614,595 |
Series A | ||
5.00%, due 10/1/22 (b) | 1,000,000 | 1,013,106 |
Guam Government Waterworks Authority, Revenue Bonds | ||
5.00%, due 7/1/22 | 135,000 | 135,727 |
5.00%, due 7/1/24 | 400,000 | 418,244 |
Series A | ||
5.00%, due 7/1/24 | 300,000 | 313,683 |
5.25%, due 7/1/22 | 1,390,000 | 1,398,042 |
Guam Power Authority, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 10/1/23 | 300,000 | 304,219 |
Series A, Insured: AGM | ||
5.00%, due 10/1/25 | 950,000 | 963,359 |
Port Authority of Guam, Revenue Bonds | ||
Series B | ||
5.00%, due 7/1/22 (b) | 650,000 | 653,020 |
7,123,185 | ||
Hawaii 0.4% | ||
State of Hawaii, Unlimited General Obligation | ||
Series DX | ||
5.51%, due 2/1/29 | 4,000,000 | 4,447,475 |
24 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Hawaii (continued) | ||
State of Hawaii Airports System, Certificate of Participation | ||
5.25%, due 8/1/24 | $ 250,000 | $ 257,945 |
5.25%, due 8/1/25 | 1,300,000 | 1,341,314 |
State of Hawaii Harbor System, Revenue Bonds (b) | ||
Series A | ||
5.00%, due 7/1/24 | 300,000 | 315,166 |
Series A | ||
5.00%, due 7/1/25 | 450,000 | 481,907 |
6,843,807 | ||
Idaho 0.0% ‡ | ||
Idaho Health Facilities Authority, ADA County Coroner Project, Revenue Bonds | ||
5.00%, due 9/1/23 | 170,000 | 176,077 |
5.00%, due 9/1/24 | 265,000 | 279,510 |
5.00%, due 9/1/25 | 285,000 | 306,256 |
761,843 | ||
Illinois 11.1% | ||
Carol Stream Park District, Unlimited General Obligation | ||
Series C, Insured: BAM | ||
4.00%, due 11/1/24 | 215,000 | 221,895 |
Series C, Insured: BAM | ||
4.00%, due 11/1/25 | 450,000 | 468,926 |
Series C, Insured: BAM | ||
4.00%, due 11/1/26 | 550,000 | 577,493 |
Chicago Board of Education, Unlimited General Obligation | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 12/1/22 | 150,000 | 147,922 |
Series A, Insured: AGM | ||
5.00%, due 12/1/23 | 4,650,000 | 4,834,706 |
Chicago Board of Education, Capital Appreciation, School Reform, Unlimited General Obligation | ||
Insured: NATL-RE | ||
(zero coupon), due 12/1/23 | 500,000 | 476,477 |
Series A, Insured: NATL-RE | ||
(zero coupon), due 12/1/25 | 1,630,000 | 1,441,563 |
Chicago Midway International Airport, Revenue Bonds, Second Lien | ||
Series A | ||
5.00%, due 1/1/27 (b) | 1,040,000 | 1,072,266 |
Principal Amount | Value | |
Illinois (continued) | ||
Chicago O'Hare International Airport, Revenue Bonds, Senior Lien | ||
Series D | ||
5.00%, due 1/1/24 (b) | $ 150,000 | $ 155,355 |
Series D | ||
5.00%, due 1/1/24 | 850,000 | 865,773 |
Series A | ||
5.00%, due 1/1/25 (b) | 235,000 | 246,528 |
Series B | ||
5.00%, due 1/1/26 | 1,250,000 | 1,344,251 |
Chicago O'Hare International Airport, Passenger Facility Charge, Revenue Bonds | ||
5.00%, due 1/1/25 (b) | 835,000 | 837,048 |
Chicago Park District, Limited General Obligation | ||
Series C | ||
5.00%, due 1/1/23 | 500,000 | 510,160 |
Chicago Park District, Unlimited General Obligation | ||
Series F-2 | ||
5.00%, due 1/1/25 | 400,000 | 421,825 |
Series F-2 | ||
5.00%, due 1/1/26 | 550,000 | 588,896 |
Chicago Transit Authority, 5337 State of Good Repair Formula Funds, Revenue Bonds | ||
5.00%, due 6/1/22 | 1,670,000 | 1,674,766 |
5.00%, due 6/1/25 | 7,180,000 | 7,635,480 |
Chicago Transit Authority, 5307 Urbanized Area Formula Funds, Revenue Bonds | ||
5.00%, due 6/1/22 | 380,000 | 381,045 |
City of Berwyn IL, Unlimited General Obligation | ||
Series A | ||
5.00%, due 12/1/23 | 330,000 | 340,007 |
Series A | ||
5.00%, due 12/1/24 | 820,000 | 853,110 |
Series A | ||
5.00%, due 12/1/25 | 465,000 | 486,236 |
Series A | ||
5.00%, due 12/1/26 | 705,000 | 741,100 |
City of Canton IL, Alternative Revenue Source, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
3.00%, due 12/1/22 | 635,000 | 637,131 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
City of Canton IL, Alternative Revenue Source, Unlimited General Obligation (continued) | ||
Series A, Insured: BAM | ||
3.00%, due 12/1/23 | $ 550,000 | $ 551,361 |
City of Chicago Heights IL, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/24 | 300,000 | 307,844 |
Insured: BAM | ||
4.00%, due 12/1/25 | 300,000 | 309,139 |
Insured: BAM | ||
4.00%, due 12/1/26 | 300,000 | 309,584 |
City of Chicago IL, Unlimited General Obligation | ||
Series C | ||
(zero coupon), due 1/1/25 | 2,255,000 | 2,040,337 |
Series C | ||
5.00%, due 1/1/24 | 3,520,000 | 3,638,132 |
Series A | ||
5.00%, due 1/1/26 | 405,000 | 417,776 |
5.25%, due 1/1/28 | 925,000 | 972,041 |
City of Chicago IL, Revenue Bonds, Second Lien | ||
3.15%, due 11/1/24 | 475,000 | 480,552 |
City of Chicago IL, Waterworks, Revenue Bonds, Second Lien | ||
5.00%, due 11/1/22 | 500,000 | 507,861 |
5.00%, due 11/1/24 | 250,000 | 253,669 |
5.00%, due 11/1/25 | 155,000 | 163,381 |
Insured: BAM | ||
5.00%, due 11/1/25 | 135,000 | 143,610 |
Insured: AGM-CR | ||
5.00%, due 11/1/25 | 400,000 | 406,249 |
5.00%, due 11/1/26 | 410,000 | 431,763 |
City of Chicago IL, Wastewater Transmission, Revenue Bonds, Second Lien | ||
Series C | ||
5.00%, due 1/1/23 | 525,000 | 535,423 |
5.00%, due 1/1/24 | 150,000 | 155,951 |
Series C | ||
5.00%, due 1/1/25 | 350,000 | 372,709 |
5.00%, due 1/1/26 | 1,130,000 | 1,133,205 |
Principal Amount | Value | |
Illinois (continued) | ||
City of Chicago IL, Neighbourhoods Alive 21 Program, Unlimited General Obligation | ||
Series 2002B | ||
5.00%, due 1/1/24 | $ 150,000 | $ 155,034 |
Series 2002B | ||
5.00%, due 1/1/26 | 170,000 | 177,907 |
Series 2002B | ||
5.25%, due 1/1/28 | 150,000 | 157,628 |
City of Country Club Hills IL, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 1/1/24 | 190,000 | 191,336 |
Insured: BAM | ||
3.00%, due 1/1/26 | 300,000 | 300,645 |
Insured: BAM | ||
3.00%, due 1/1/27 | 250,000 | 250,130 |
City of Galesburg IL, Knox College Project, Revenue Bonds | ||
Series B | ||
1.488%, due 10/1/22 | 125,000 | 124,448 |
Series B | ||
1.588%, due 10/1/23 | 150,000 | 145,997 |
Series B | ||
1.922%, due 10/1/24 | 1,000,000 | 954,685 |
Series A | ||
5.00%, due 10/1/26 | 175,000 | 187,013 |
Series A | ||
5.00%, due 10/1/27 | 175,000 | 188,461 |
City of Kankakee IL, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 1/1/24 | 750,000 | 767,390 |
City of Kankakee IL, Special Obligation, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 1/1/25 | 800,000 | 826,411 |
City of Moline IL, Unlimited General Obligation | ||
Series C, Insured: AGM | ||
1.151%, due 12/1/24 | 590,000 | 560,862 |
Series C, Insured: AGM | ||
1.439%, due 12/1/25 | 920,000 | 860,382 |
City of Monmouth IL, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 12/1/22 | 350,000 | 354,220 |
26 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
City of Monmouth IL, Unlimited General Obligation (continued) | ||
Series A, Insured: BAM | ||
4.00%, due 12/1/23 | $ 365,000 | $ 373,768 |
Series A, Insured: BAM | ||
4.00%, due 12/1/24 | 380,000 | 393,092 |
City of Mount Vernon IL, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/15/22 | 1,150,000 | 1,165,337 |
City of Rock Island IL, Green Bond, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/22 | 220,000 | 222,882 |
Insured: BAM | ||
4.00%, due 12/1/23 | 155,000 | 159,039 |
Insured: BAM | ||
4.00%, due 12/1/24 | 175,000 | 181,340 |
Insured: BAM | ||
4.00%, due 12/1/25 | 175,000 | 183,112 |
City of Rock Island IL, Unlimited General Obligation | ||
Series B, Insured: AGM | ||
4.00%, due 12/1/22 | 275,000 | 278,603 |
Series B, Insured: AGM | ||
4.00%, due 12/1/24 | 320,000 | 331,592 |
Series B, Insured: AGM | ||
4.00%, due 12/1/25 | 330,000 | 345,297 |
City of Rockford IL, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/15/22 | 250,000 | 253,334 |
Insured: BAM | ||
4.00%, due 12/15/23 | 560,000 | 574,111 |
Insured: BAM | ||
4.00%, due 12/15/24 | 285,000 | 293,990 |
City of Rockford IL, Alternative Revenue Source, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 12/15/22 | 135,000 | 136,800 |
Series A, Insured: AGM | ||
4.00%, due 12/15/23 | 140,000 | 143,528 |
Series A, Insured: AGM | ||
4.00%, due 12/15/24 | 290,000 | 299,073 |
Principal Amount | Value | |
Illinois (continued) | ||
City of Springfield IL, Electric, Revenue Bonds, Senior Lien | ||
5.00%, due 3/1/25 | $ 1,055,000 | $ 1,120,393 |
City of Sterling IL, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
0.40%, due 11/1/23 | 190,000 | 182,280 |
Series B, Insured: BAM | ||
4.00%, due 11/1/25 | 100,000 | 104,614 |
Series B, Insured: BAM | ||
4.00%, due 11/1/26 | 370,000 | 390,899 |
Series B, Insured: BAM | ||
4.00%, due 11/1/29 | 285,000 | 305,040 |
City of Waukegan IL, Water & Sewer System, Revenue Bonds, First Lien | ||
Insured: AGM | ||
4.00%, due 12/30/23 | 100,000 | 102,398 |
Insured: AGM | ||
4.00%, due 12/30/24 | 110,000 | 113,743 |
Insured: AGM | ||
4.00%, due 12/30/25 | 150,000 | 156,656 |
City of Waukegan IL, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 12/30/23 | 250,000 | 255,996 |
Series A, Insured: BAM | ||
4.00%, due 12/30/24 | 280,000 | 289,527 |
Series A, Insured: BAM | ||
4.00%, due 12/30/26 | 300,000 | 315,782 |
Cook County Community Unit School District No. 401 Elmwood Park, Unlimited General Obligation | ||
3.00%, due 12/1/22 | 500,000 | 503,805 |
Cook County School District No. 122 Ridgeland, Unlimited General Obligation | ||
Series A | ||
3.00%, due 12/1/22 | 950,000 | 957,230 |
Cook County School District No. 87 Berkeley, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 12/1/24 | 500,000 | 531,671 |
Insured: AGM | ||
5.00%, due 12/1/25 | 500,000 | 541,742 |
Insured: AGM | ||
5.00%, due 12/1/26 | 500,000 | 551,400 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
Cook County School District No. 88 Bellwood, Limited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 12/1/23 | $ 425,000 | $ 435,210 |
Series A, Insured: BAM | ||
4.00%, due 12/1/24 | 325,000 | 336,197 |
Cook County School District No. 94, Unlimited General Obligation | ||
Insured: BAM | ||
5.00%, due 12/1/22 | 340,000 | 346,281 |
Insured: BAM | ||
5.00%, due 12/1/23 | 555,000 | 575,557 |
Insured: BAM | ||
5.00%, due 12/1/24 | 370,000 | 390,018 |
Insured: BAM | ||
5.00%, due 12/1/25 | 390,000 | 418,136 |
Cook County Township High School District No. 220 Reavis, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/23 | 760,000 | 777,308 |
Insured: BAM | ||
5.00%, due 12/1/24 | 570,000 | 602,588 |
County of Sangamon IL, Limited General Obligation | ||
Insured: BAM | ||
5.00%, due 12/15/22 | 135,000 | 137,658 |
Insured: BAM | ||
5.00%, due 12/15/23 | 150,000 | 156,144 |
Insured: BAM | ||
5.00%, due 12/15/24 | 225,000 | 238,266 |
Insured: BAM | ||
5.00%, due 12/15/25 | 230,000 | 247,898 |
Crawford Hospital District, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 1/1/23 | 265,000 | 268,618 |
Insured: AGM | ||
4.00%, due 1/1/24 | 280,000 | 286,676 |
Insured: AGM | ||
4.00%, due 1/1/25 | 285,000 | 294,557 |
Insured: AGM | ||
4.00%, due 1/1/26 | 300,000 | 313,106 |
Principal Amount | Value | |
Illinois (continued) | ||
Darien-Woodridge Fire Protection District, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 12/30/22 | $ 75,000 | $ 75,509 |
Insured: BAM | ||
3.00%, due 12/30/23 | 100,000 | 100,866 |
Insured: BAM | ||
3.00%, due 12/30/25 | 100,000 | 101,152 |
Illinois Development Finance Authority, Regenct Park, Revenue Bonds | ||
(zero coupon), due 7/15/25 | 1,160,000 | 1,066,420 |
Illinois Finance Authority, Learn Charter School Project, Revenue Bonds | ||
4.00%, due 11/1/22 | 125,000 | 125,828 |
4.00%, due 11/1/23 | 135,000 | 136,442 |
4.00%, due 11/1/24 | 135,000 | 136,494 |
4.00%, due 11/1/25 | 210,000 | 212,116 |
4.00%, due 11/1/26 | 215,000 | 216,776 |
Illinois Finance Authority, Centegra Healthcare Obligated Group, Revenue Bonds | ||
4.00%, due 9/1/32 | 10,325,000 | 10,409,648 |
Illinois Finance Authority, Illinois Wesleyan University, Revenue Bonds | ||
5.00%, due 9/1/22 | 560,000 | 566,115 |
Illinois Finance Authority, OSF Healthcare System, Revenue Bonds | ||
Series A | ||
5.00%, due 5/15/23 | 400,000 | 411,757 |
Illinois Finance Authority, Northwestern Memorial Healthcare, Revenue Bonds | ||
Series A | ||
5.00%, due 7/15/23 | 615,000 | 636,152 |
Illinois Finance Authority, Ann & Robert H Lurie Children's Hospital Obligated Group, Revenue Bonds | ||
5.00%, due 8/15/23 | 250,000 | 259,136 |
Illinois Sports Facilities Authority (The), Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 6/15/25 | 115,000 | 119,907 |
28 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
Illinois State Toll Highway Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/22 | $ 3,010,000 | $ 3,067,362 |
Kane County School District No. 129 West Aurora, Unlimited General Obligation | ||
Series C, Insured: BAM | ||
5.00%, due 2/1/25 | 1,800,000 | 1,913,606 |
Kane County School District No. 131 Aurora East Side, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/22 | 580,000 | 587,397 |
Kankakee County School District No. 111 Kankakee, Limited General Obligation | ||
Insured: BAM | ||
4.00%, due 1/1/24 | 370,000 | 379,187 |
Insured: BAM | ||
4.00%, due 1/1/25 | 390,000 | 403,790 |
Knox & Warren Counties Community Unit School District No. 205 Galesburg, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
4.00%, due 1/1/24 | 590,000 | 605,621 |
Series A, Insured: BAM | ||
4.00%, due 12/1/24 | 665,000 | 685,896 |
Series B, Insured: BAM | ||
4.00%, due 1/1/25 | 625,000 | 645,471 |
Series A, Insured: BAM | ||
4.00%, due 12/1/25 | 685,000 | 713,656 |
Series B, Insured: BAM | ||
4.00%, due 1/1/26 | 640,000 | 667,279 |
Series A, Insured: BAM | ||
4.00%, due 12/1/26 | 680,000 | 714,434 |
La Salle County School District No. 141 Ottawa, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 12/1/22 | 370,000 | 374,504 |
Lake County Community Consolidated School District No. 3 Beach Park, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 2/1/24 | 405,000 | 414,809 |
Principal Amount | Value | |
Illinois (continued) | ||
Lake County Community Consolidated School District No. 3 Beach Park, Unlimited General Obligation (continued) | ||
Insured: AGM | ||
4.00%, due 2/1/25 | $ 450,000 | $ 465,471 |
Macon & De Witt Counties Community Unit School District No. 2, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 12/1/24 | 350,000 | 362,236 |
Insured: AGM | ||
4.00%, due 12/1/25 | 385,000 | 401,239 |
Insured: AGM | ||
4.00%, due 12/1/26 | 415,000 | 436,562 |
Insured: AGM | ||
4.00%, due 12/1/27 | 350,000 | 369,444 |
Macon County School District No. 61 Decatur, Unlimited General Obligation | ||
Series C, Insured: AGM | ||
4.00%, due 1/1/24 | 750,000 | 769,734 |
Insured: AGM | ||
4.00%, due 12/1/24 | 100,000 | 103,673 |
Insured: AGM | ||
4.00%, due 12/1/27 | 1,020,000 | 1,083,690 |
Macoupin County Community Unit School District No. 1 Carlinville, Limited General Obligation | ||
Series B, Insured: BAM | ||
3.00%, due 12/1/24 | 535,000 | 540,848 |
Series B, Insured: BAM | ||
3.00%, due 12/1/26 | 750,000 | 759,202 |
Madison-Macoupin Etc Counties Community College District No. 536, Revenue Bonds | ||
Series A, Insured: BAM | ||
4.00%, due 11/1/22 | 350,000 | 353,545 |
Series A, Insured: BAM | ||
4.00%, due 11/1/23 | 2,115,000 | 2,159,634 |
Madison-Macoupin Etc Counties Community College District No. 536, Lewis & Clark Community Project, Unlimited General Obligation | ||
5.00%, due 11/1/22 | 420,000 | 426,248 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
McHenry & Kane Counties Community Consolidated School District No. 158 Huntley, Unlimited General Obligation | ||
Insured: AGM-CR | ||
(zero coupon), due 1/1/24 | $ 350,000 | $ 334,292 |
McHenry County Consolidated School District No. 46 Prairie Grove, Unlimited General Obligation | ||
Insured: BAM | ||
5.00%, due 2/1/24 | 395,000 | 412,432 |
Insured: BAM | ||
5.00%, due 2/1/25 | 415,000 | 441,647 |
Insured: BAM | ||
5.00%, due 2/1/26 | 435,000 | 471,187 |
Metropolitan Pier & Exposition Authority, Revenue Bonds | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 12/15/22 | 115,000 | 113,160 |
Metropolitan Pier & Exposition Authority, McCormick Place Expansion Project, Revenue Bonds | ||
Insured: NATL-RE | ||
(zero coupon), due 12/15/23 | 175,000 | 166,112 |
Metropolitan Pier & Exposition Authority, Mccormick Place Expansion Project, Revenue Bonds | ||
3.00%, due 6/15/25 | 500,000 | 497,486 |
Montgomery & Macoupin Counties Community Unit School District No. 12 Litchfield, Unlimited General Obligation | ||
Series C, Insured: BAM | ||
4.00%, due 10/1/22 | 295,000 | 298,006 |
Series C, Insured: BAM | ||
4.00%, due 10/1/25 | 355,000 | 366,813 |
Series C, Insured: BAM | ||
4.00%, due 10/1/26 | 380,000 | 395,363 |
Series C, Insured: BAM | ||
4.00%, due 10/1/27 | 405,000 | 423,438 |
Series C, Insured: BAM | ||
4.00%, due 10/1/28 | 430,000 | 449,817 |
Northern Illinois University, Revenue Bonds | ||
Series B, Insured: BAM | ||
5.00%, due 4/1/23 | 240,000 | 246,159 |
Principal Amount | Value | |
Illinois (continued) | ||
Northern Illinois University, Revenue Bonds (continued) | ||
Series B, Insured: BAM | ||
5.00%, due 4/1/25 | $ 850,000 | $ 899,881 |
Public Building Commission of Chicago, Revenue Bonds | ||
Insured: AMBAC | ||
5.25%, due 3/1/24 | 1,000,000 | 1,043,036 |
Railsplitter Tobacco Settlement Authority, Revenue Bonds | ||
5.00%, due 6/1/22 | 3,380,000 | 3,389,673 |
5.00%, due 6/1/25 | 1,000,000 | 1,058,286 |
Regional Transportation Authority, Revenue Bonds | ||
Series A, Insured: NATL-RE | ||
5.50%, due 7/1/22 | 335,000 | 337,193 |
Insured: AGM-CR | ||
6.25%, due 7/1/22 | 360,000 | 362,789 |
Rock Island County Metropolitan Airport Authority, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 12/1/22 | 1,185,000 | 1,200,113 |
Insured: AGM | ||
4.00%, due 12/1/24 | 1,275,000 | 1,320,219 |
Rock Island County School District No. 41 Rock Island, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/23 | 385,000 | 393,227 |
Saline County Community Unit School District No. 3 Harrisburg, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
3.00%, due 12/1/26 | 765,000 | 774,386 |
Sangamon County School District No. 186 Springfield, Unlimited General Obligation | ||
Series C, Insured: AGM | ||
4.00%, due 6/1/24 | 1,000,000 | 1,024,608 |
Series C, Insured: AGM | ||
4.00%, due 6/1/25 | 875,000 | 904,633 |
Series C, Insured: AGM | ||
5.00%, due 6/1/26 | 910,000 | 983,502 |
Series C, Insured: AGM | ||
5.00%, due 6/1/27 | 955,000 | 1,047,025 |
30 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
South Sangamon Water Commission, Alternative Revenue Source, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 1/1/23 | $ 165,000 | $ 166,805 |
Insured: AGM | ||
4.00%, due 1/1/24 | 350,000 | 356,397 |
Insured: AGM | ||
4.00%, due 1/1/25 | 250,000 | 256,246 |
Stark Knox Marshall Henry & Peoria Counties Community Unit School Dist No. 100, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/24 | 100,000 | 102,615 |
Insured: BAM | ||
4.00%, due 12/1/25 | 250,000 | 258,473 |
Insured: BAM | ||
4.00%, due 12/1/26 | 260,000 | 270,554 |
State of Illinois, Unlimited General Obligation | ||
4.00%, due 9/1/22 | 480,000 | 483,207 |
5.00%, due 5/1/22 | 760,000 | 760,000 |
5.00%, due 6/1/22 | 455,000 | 456,161 |
5.00%, due 7/1/23 | 400,000 | 410,859 |
Series A | ||
5.00%, due 10/1/23 | 200,000 | 206,364 |
Series A | ||
5.00%, due 10/1/24 | 200,000 | 209,355 |
Series D | ||
5.00%, due 11/1/24 | 14,105,000 | 14,781,584 |
Series D | ||
5.00%, due 11/1/26 | 10,000,000 | 10,721,969 |
Series A | ||
5.00%, due 12/1/26 | 1,980,000 | 2,124,490 |
5.00%, due 2/1/28 | 2,355,000 | 2,518,085 |
Series D | ||
5.00%, due 11/1/28 | 3,745,000 | 4,023,574 |
Series B | ||
5.15%, due 1/1/24 | 500,000 | 512,205 |
Series A | ||
5.25%, due 5/1/22 | 1,715,000 | 1,715,000 |
State of Illinois, Revenue Bonds | ||
Series C | ||
5.00%, due 6/15/22 | 490,000 | 491,677 |
Principal Amount | Value | |
Illinois (continued) | ||
State of Illinois, Unlimited General Obligation, First Series | ||
Insured: NATL-RE | ||
6.00%, due 11/1/26 | $ 4,115,000 | $ 4,572,950 |
Town of Cicero IL, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 1/1/24 | 720,000 | 737,759 |
Village of Antioch IL, Green Bond, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/24 | 120,000 | 124,256 |
Insured: BAM | ||
4.00%, due 12/1/25 | 205,000 | 214,360 |
Insured: BAM | ||
4.00%, due 12/1/26 | 210,000 | 221,374 |
Insured: BAM | ||
4.00%, due 12/1/27 | 875,000 | 925,923 |
Village of Brookfield IL, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 3/1/23 | 270,000 | 274,109 |
Village of Franklin Park IL, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 10/1/22 | 380,000 | 382,243 |
Series A, Insured: BAM | ||
3.00%, due 10/1/23 | 265,000 | 267,500 |
Series A, Insured: BAM | ||
3.00%, due 10/1/24 | 270,000 | 272,275 |
Series A, Insured: BAM | ||
3.00%, due 10/1/25 | 280,000 | 282,749 |
Insured: BAM | ||
5.00%, due 4/1/23 | 10,000 | 10,259 |
Village of McCook IL, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 12/1/23 | 230,000 | 235,705 |
Village of Park Forest IL, Green Bond, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 1/1/26 | 500,000 | 523,089 |
Insured: BAM | ||
4.00%, due 1/1/27 | 525,000 | 553,100 |
Village of Sauk Village IL, Unlimited General Obligation | ||
Series C, Insured: BAM | ||
4.00%, due 12/1/22 | 100,000 | 101,160 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
Village of Sauk Village IL, Unlimited General Obligation (continued) | ||
Series C, Insured: BAM | ||
4.00%, due 12/1/23 | $ 1,030,000 | $ 1,053,135 |
Village of Stone Park IL, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
4.00%, due 2/1/24 | 135,000 | 138,223 |
Series B, Insured: BAM | ||
4.00%, due 2/1/25 | 150,000 | 155,036 |
Village of Westchester IL, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/23 | 260,000 | 266,531 |
Insured: BAM | ||
4.00%, due 12/1/24 | 270,000 | 280,329 |
Insured: BAM | ||
4.00%, due 12/1/25 | 280,000 | 293,272 |
Insured: BAM | ||
4.00%, due 12/1/26 | 290,000 | 306,090 |
West Chicago Park District, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
3.00%, due 12/1/23 | 225,000 | 227,118 |
Series B, Insured: BAM | ||
3.00%, due 12/1/24 | 485,000 | 489,696 |
Series B, Insured: BAM | ||
3.00%, due 12/1/25 | 520,000 | 525,042 |
Western Illinois University, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 4/1/26 | 1,340,000 | 1,399,281 |
Insured: BAM | ||
4.00%, due 4/1/27 | 1,400,000 | 1,470,574 |
White Oak Library District, Unlimited General Obligation | ||
5.00%, due 1/1/23 | 430,000 | 438,967 |
Will County Community High School District No. 210 Lincoln-Way, Unlimited General Obligation | ||
Insured: AGM | ||
(zero coupon), due 1/1/25 | 685,000 | 629,430 |
Principal Amount | Value | |
Illinois (continued) | ||
Winnebago-Boone Etc Counties Community College District No. 511, Rock Valley College, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
5.00%, due 1/1/26 | $ 3,635,000 | $ 3,920,911 |
Woodford Lasalle Livingston Etc Counties Community Unit Sch Dist No. 6 Fieldcrest, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 12/1/24 | 440,000 | 454,381 |
Series A, Insured: BAM | ||
4.00%, due 12/1/25 | 200,000 | 208,367 |
Series A, Insured: BAM | ||
4.00%, due 12/1/25 | 690,000 | 718,865 |
Series A, Insured: BAM | ||
4.00%, due 12/1/26 | 175,000 | 183,862 |
Series A, Insured: BAM | ||
4.00%, due 12/1/26 | 330,000 | 346,711 |
Series A, Insured: BAM | ||
4.00%, due 12/1/27 | 285,000 | 301,285 |
Series A, Insured: BAM | ||
4.00%, due 12/1/27 | 400,000 | 422,856 |
181,963,119 | ||
Indiana 0.9% | ||
City of Evansville IN, Medical School Project, Tax Allocation | ||
Series A, Insured: BAM | ||
5.00%, due 2/1/23 | 535,000 | 547,259 |
City of Goshen IN, Sewage Works, Revenue Bonds | ||
Insured: AGM | ||
3.00%, due 7/1/22 | 150,000 | 150,421 |
Insured: AGM | ||
3.00%, due 1/1/23 | 185,000 | 186,439 |
Insured: AGM | ||
4.00%, due 1/1/25 | 260,000 | 269,194 |
Insured: AGM | ||
4.00%, due 7/1/25 | 230,000 | 239,379 |
County of Johnson IN, Local Income Tax, Revenue Bonds | ||
Series A, Insured: State Intercept | ||
4.00%, due 7/15/22 | 225,000 | 226,205 |
32 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Indiana (continued) | ||
Greater Jasper School Building Corp., Indiana Ad Valorem Property Tax, 1st Mortgage, Revenue Bonds | ||
Insured: State Intercept | ||
5.00%, due 1/15/27 | $ 100,000 | $ 109,071 |
Hammond Multi-School Building Corp., Property First Mortgage, Revenue Bonds | ||
Insured: State Intercept | ||
5.00%, due 7/15/22 | 1,040,000 | 1,047,403 |
Indiana Finance Authority, Indianapolis Power & Light Co., Revenue Bonds | ||
Series A | ||
1.40%, due 8/1/29 (a) | 3,715,000 | 3,131,213 |
Indiana Finance Authority, BHI Senior Living, Inc., Revenue Bonds | ||
Series B | ||
2.45%, due 11/15/25 | 355,000 | 330,482 |
Series B | ||
2.52%, due 11/15/26 | 515,000 | 474,079 |
Series B | ||
2.92%, due 11/15/27 | 655,000 | 598,170 |
Indiana Finance Authority, Marian University Project, Revenue Bonds | ||
Series A | ||
5.00%, due 9/15/22 | 50,000 | 50,558 |
Series A | ||
5.00%, due 9/15/23 | 75,000 | 77,274 |
Indiana Finance Authority, University Health, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/22 | 250,000 | 254,327 |
Muncie Sanitary District, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 7/1/25 | 975,000 | 1,013,554 |
Series A, Insured: AGM | ||
5.00%, due 1/1/26 | 265,000 | 285,460 |
Series A, Insured: AGM | ||
5.00%, due 7/1/26 | 525,000 | 570,693 |
Terre Haute Sanitary District, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 1/1/23 | 320,000 | 322,215 |
Series A, Insured: BAM | ||
3.00%, due 7/1/23 | 390,000 | 393,157 |
Principal Amount | Value | |
Indiana (continued) | ||
Terre Haute Sanitary District, Revenue Bonds (continued) | ||
Series A, Insured: BAM | ||
3.00%, due 1/1/24 | $ 350,000 | $ 353,087 |
Series A, Insured: BAM | ||
3.00%, due 7/1/24 | 385,000 | 387,738 |
Series A, Insured: BAM | ||
3.00%, due 7/1/25 | 290,000 | 291,598 |
Series A, Insured: BAM | ||
3.00%, due 7/1/26 | 280,000 | 280,755 |
Town of Speedway IN Sewage Works, Revenue Bonds | ||
Series A, Insured: AGM | ||
3.00%, due 9/1/24 | 550,000 | 553,558 |
Wayne Township Metropolitan School District, Limited General Obligation | ||
Insured: State Intercept | ||
4.00%, due 7/15/22 | 1,010,000 | 1,014,979 |
Insured: State Intercept | ||
4.00%, due 1/15/23 | 1,035,000 | 1,049,335 |
14,207,603 | ||
Iowa 1.4% | ||
Benton Etc Counties College Community School District, Sales Services & Use Tax, Revenue Bonds | ||
Insured: AGM | ||
2.00%, due 6/1/22 | 360,000 | 360,227 |
Camanche Community School District, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 6/1/25 | 535,000 | 573,678 |
Insured: AGM | ||
5.00%, due 6/1/26 | 565,000 | 616,776 |
Insured: AGM | ||
5.00%, due 6/1/27 | 590,000 | 654,195 |
City of Clinton IA, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
5.00%, due 6/1/23 | 240,000 | 247,291 |
Series A, Insured: BAM | ||
5.00%, due 6/1/24 | 360,000 | 378,389 |
City of Coralville IA, Unlimited General Obligation | ||
Series C | ||
4.00%, due 5/1/26 | 645,000 | 665,646 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Iowa (continued) | ||
City of Coralville IA, Unlimited General Obligation (continued) | ||
Series C | ||
4.00%, due 5/1/28 | $ 500,000 | $ 518,976 |
City of New Hampton IA, Electric, Revenue Bonds | ||
Insured: BAM | ||
3.00%, due 6/1/22 | 135,000 | 135,159 |
Insured: BAM | ||
3.00%, due 6/1/23 | 140,000 | 141,018 |
Insured: BAM | ||
3.00%, due 6/1/24 | 140,000 | 141,005 |
City of Newton IA, Unlimited General Obligation | ||
Series C, Insured: AGM | ||
2.00%, due 6/1/22 | 520,000 | 520,352 |
Clinton Community School District, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 6/1/22 | 620,000 | 621,804 |
Collins-Maxwell Community School District Sales Services & Use Tax, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 6/1/26 | 190,000 | 200,334 |
Insured: BAM | ||
4.00%, due 6/1/27 | 195,000 | 207,497 |
Insured: BAM | ||
4.00%, due 6/1/28 | 205,000 | 219,588 |
Insured: BAM | ||
4.00%, due 6/1/29 | 215,000 | 231,830 |
Iowa Finance Authority, Renewable Natural Gas Project, Green Bond, Revenue Bonds | ||
1.50%, due 1/1/42 (a)(b) | 2,000,000 | 1,972,768 |
Iowa Higher Education Loan Authority, University of Dubuque Project, Revenue Bonds | ||
4.00%, due 10/1/25 | 340,000 | 351,091 |
4.00%, due 10/1/26 | 200,000 | 206,747 |
4.00%, due 10/1/27 | 200,000 | 206,283 |
Iowa Higher Education Loan Authority, Des Moines University Project, Revenue Bonds | ||
5.00%, due 10/1/23 | 515,000 | 531,383 |
5.00%, due 10/1/24 | 550,000 | 576,481 |
5.00%, due 10/1/25 | 570,000 | 606,565 |
Principal Amount | Value | |
Iowa (continued) | ||
Iowa State University of Science & Technology, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 7/1/22 | $ 1,215,000 | $ 1,222,303 |
Iowa Student Loan Liquidity Corp., Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/24 (b) | 275,000 | 289,668 |
Lewis Central Community School District, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 7/1/25 | 570,000 | 595,006 |
Insured: BAM | ||
4.00%, due 7/1/26 | 675,000 | 710,929 |
PEFA, Inc., Revenue Bonds | ||
5.00%, due 9/1/49 (a) | 6,500,000 | 6,862,064 |
Sioux Center Community School District, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 5/1/22 | 350,000 | 350,000 |
Southern Iowa Rural Water Association, Capital Loan Notes, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 12/1/23 | 395,000 | 403,995 |
State of Iowa, Revenue Bonds | ||
5.00%, due 6/15/26 | 130,000 | 142,700 |
University of Iowa (The), Recreational Facilities, Revenue Bonds | ||
Series S | ||
4.00%, due 7/1/22 | 140,000 | 140,638 |
Waterloo Community School District, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 7/1/23 | 125,000 | 127,334 |
Insured: AGM | ||
4.00%, due 7/1/24 | 450,000 | 463,065 |
Insured: AGM | ||
4.00%, due 7/1/25 | 450,000 | 467,656 |
Insured: AGM | ||
4.00%, due 7/1/26 | 100,000 | 104,840 |
22,765,281 |
34 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Kansas 0.2% | ||
Chisholm Creek Utility Authority, Revenue Bonds | ||
Insured: AMBAC | ||
5.25%, due 9/1/23 | $ 1,165,000 | $ 1,205,305 |
Franklin County Unified School District No. 287 West Franklin, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 9/1/23 | 305,000 | 316,269 |
Kansas Development Finance Authority, Department of Commerce, Revenue Bonds | ||
5.00%, due 6/1/22 | 340,000 | 340,992 |
Kansas Development Finance Authority, Pittsburg State University, Revenue Bonds | ||
Series E, Insured: BAM | ||
5.00%, due 2/1/25 | 715,000 | 758,955 |
Washburn University, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 7/1/23 | 200,000 | 204,082 |
2,825,603 | ||
Kentucky 1.1% | ||
City of Columbia KY, Lindsey Wilson College, Inc., Revenue Bonds | ||
4.00%, due 12/1/22 | 175,000 | 176,726 |
4.00%, due 12/1/24 | 465,000 | 475,067 |
4.00%, due 12/1/26 | 500,000 | 512,546 |
City of Somerset KY, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 6/1/25 | 675,000 | 705,981 |
Insured: AGM | ||
4.00%, due 6/1/26 | 200,000 | 211,674 |
Insured: AGM | ||
4.00%, due 6/1/27 | 530,000 | 565,267 |
Kentucky Bond Development Corp., Lexington Center Corporation Project, Revenue Bonds | ||
5.00%, due 9/1/22 | 550,000 | 556,097 |
Kentucky Economic Development Finance Authority, Next Generation Kentucky Information Highway Project, Revenue Bonds, Senior Lien | ||
5.00%, due 7/1/26 | 3,450,000 | 3,659,448 |
Principal Amount | Value | |
Kentucky (continued) | ||
Kentucky Public Energy Authority, Gas Supply, Revenue Bonds | ||
Series C | ||
4.00%, due 8/1/22 | $ 390,000 | $ 391,800 |
Series C | ||
4.00%, due 8/1/23 | 390,000 | 395,126 |
Series C | ||
4.00%, due 2/1/50 (a) | 6,560,000 | 6,692,820 |
Kentucky State University, Kentucky State University Project, Certificate of Participation | ||
Insured: BAM | ||
5.00%, due 11/1/24 | 200,000 | 211,210 |
Insured: BAM | ||
5.00%, due 11/1/25 | 200,000 | 215,103 |
Insured: BAM | ||
5.00%, due 11/1/26 | 220,000 | 240,615 |
Insured: BAM | ||
5.00%, due 11/1/27 | 200,000 | 221,871 |
Murray Electric Plant Board, Revenue Bonds | ||
Series B, Insured: AGM | ||
4.00%, due 12/1/22 | 230,000 | 233,053 |
Paducah Electric Plant Board, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 10/1/24 | 600,000 | 631,323 |
Rural Water Financing Agency, Public Projects, Revenue Notes | ||
Series A | ||
0.40%, due 5/1/23 | 2,000,000 | 1,942,870 |
18,038,597 | ||
Louisiana 2.1% | ||
Calcasieu Parish School District No. 31, Unlimited General Obligation | ||
Insured: BAM | ||
5.00%, due 3/1/24 | 160,000 | 167,463 |
Cameron Parish School District No. 15, Unlimited General Obligation | ||
5.00%, due 10/1/24 | 340,000 | 355,077 |
5.00%, due 10/1/25 | 220,000 | 232,940 |
5.00%, due 10/1/26 | 230,000 | 246,471 |
City of New Orleans LA, Sewerage Service, Revenue Bonds | ||
5.00%, due 6/1/22 | 820,000 | 822,419 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Louisiana (continued) | ||
City of Shreveport LA, Water & Sewer, Revenue Bonds | ||
Series B, Insured: BAM | ||
5.00%, due 12/1/26 | $ 210,000 | $ 231,492 |
Louisiana Local Government Environmental Facilities & Community Development Authority, City of Crowley Louisiana Project, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 10/1/23 | 515,000 | 526,676 |
Insured: BAM | ||
4.00%, due 10/1/24 | 535,000 | 552,557 |
Louisiana Local Government Environmental Facilities & Community Development Authority, University Facilities, Inc. Project, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 10/1/24 | 395,000 | 408,807 |
Insured: AGM | ||
4.00%, due 10/1/25 | 305,000 | 319,290 |
Louisiana Local Government Environmental Facilities & Community Development Authority, Innovative Student Facilities, Inc. Project, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 10/1/22 | 290,000 | 294,078 |
Insured: BAM | ||
5.00%, due 10/1/23 | 230,000 | 238,811 |
Insured: BAM | ||
5.00%, due 10/1/24 | 225,000 | 238,097 |
Insured: BAM | ||
5.00%, due 10/1/25 | 250,000 | 269,829 |
Louisiana Local Government Environmental Facilities & Community Development Authority, LCTS Act 391 Project, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 10/1/25 | 400,000 | 431,047 |
Louisiana Public Facilities Authority, Loyola University Project, Revenue Bonds | ||
5.00%, due 10/1/25 | 250,000 | 264,124 |
5.00%, due 10/1/26 | 215,000 | 229,758 |
Principal Amount | Value | |
Louisiana (continued) | ||
Louisiana Stadium & Exposition District, Revenue Notes | ||
Series A | ||
1.872%, due 7/3/23 (c) | $ 7,000,000 | $ 6,879,859 |
Louisiana Stadium & Exposition District, Revenue Bonds | ||
4.00%, due 7/3/23 | 5,150,000 | 5,212,526 |
5.00%, due 7/3/23 | 10,500,000 | 10,663,719 |
Louisiana Stadium & Exposition District, Revenue Bonds, Senior Lien | ||
Series A | ||
5.00%, due 7/1/22 | 1,000,000 | 1,005,879 |
Series A | ||
5.00%, due 7/1/23 | 800,000 | 825,910 |
Series A | ||
5.00%, due 7/1/24 | 2,065,000 | 2,132,122 |
Series A | ||
5.00%, due 7/1/25 | 1,065,000 | 1,099,618 |
Parish of Plaquemines LA, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 3/1/24 | 150,000 | 156,256 |
Rapides Parish Recreation District Ward No. 9, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 3/1/23 | 120,000 | 120,837 |
Insured: AGM | ||
3.00%, due 3/1/24 | 130,000 | 131,116 |
Insured: AGM | ||
3.00%, due 3/1/25 | 150,000 | 151,513 |
State of Louisiana, Gasoline & Fuels Tax, Revenue Bonds | ||
Series A-1 | ||
5.00%, due 5/1/23 | 170,000 | 170,415 |
34,378,706 | ||
Maine 0.2% | ||
Finance Authority of Maine, Supplemental Education Loan Program, Revenue Bonds (b) | ||
Insured: AGM | ||
5.00%, due 12/1/22 | 500,000 | 509,091 |
Insured: AGM | ||
5.00%, due 12/1/23 | 545,000 | 565,187 |
Insured: AGM | ||
5.00%, due 12/1/24 | 520,000 | 546,809 |
36 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Maine (continued) | ||
Finance Authority of Maine, Supplemental Education Loan Program, Revenue Bonds (b) (continued) | ||
Insured: AGM | ||
5.00%, due 12/1/25 | $ 475,000 | $ 505,107 |
Maine Health & Higher Educational Facilities Authority, Eastern Maine Medical Center, Revenue Bonds | ||
Series A, Insured: AGM-State Intercept | ||
5.00%, due 7/1/24 | 1,045,000 | 1,096,030 |
3,222,224 | ||
Maryland 1.1% | ||
County of Baltimore MD, Certificate of Participation | ||
5.00%, due 10/1/22 | 115,000 | 116,655 |
County of Frederick MD, Urbana Community Development Authority, Special Tax, Senior Lien | ||
Series A | ||
5.00%, due 7/1/23 | 1,000,000 | 1,031,220 |
Series A | ||
5.00%, due 7/1/24 | 1,060,000 | 1,114,732 |
Maryland Economic Development Corp., Terminal Project, Revenue Bonds | ||
3.25%, due 6/1/22 | 755,000 | 755,909 |
3.40%, due 6/1/23 | 750,000 | 752,208 |
Series B | ||
3.60%, due 6/1/23 | 3,925,000 | 3,944,810 |
3.70%, due 6/1/25 | 1,000,000 | 987,727 |
Maryland Economic Development Corp., University of Maryland, College Park Projects, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 6/1/25 | 300,000 | 312,410 |
Maryland Health & Higher Educational Facilities Authority, Johns Hopkins University Issue, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/23 | 345,000 | 356,497 |
Principal Amount | Value | |
Maryland (continued) | ||
Maryland Health & Higher Educational Facilities Authority, Stevenson University, Inc. Project, Revenue Bonds | ||
5.00%, due 6/1/28 | $ 200,000 | $ 216,731 |
5.00%, due 6/1/30 | 350,000 | 382,283 |
Maryland State Transportation Authority, Passenger Facily Charge, Revenue Bonds | ||
5.00%, due 6/1/22 (b) | 850,000 | 852,237 |
St. Mary's College of Maryland, Academic Fees and Auxiliary Facility Fees, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 9/1/25 | 250,000 | 259,519 |
State of Maryland, Unlimited General Obligation | ||
Series C | ||
5.00%, due 8/1/22 | 540,000 | 544,846 |
State of Maryland, Unlimited General Obligation, Second Series | ||
Series A | ||
5.00%, due 8/1/25 | 6,700,000 | 7,244,869 |
18,872,653 | ||
Massachusetts 1.2% | ||
City of Fall River MA, Qualified Municipal Purpose Loan, Limited General Obligation | ||
Insured: State Aid Withholding | ||
5.00%, due 12/1/26 | 350,000 | 387,414 |
Insured: State Aid Withholding | ||
5.00%, due 12/1/27 | 315,000 | 353,432 |
Commonwealth of Massachusetts, Revenue Bonds | ||
Insured: NATL-RE | ||
5.50%, due 1/1/25 | 6,380,000 | 6,824,505 |
Massachusetts Bay Transportation Authority Assessment, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/22 | 360,000 | 362,211 |
Massachusetts Bay Transportation Authority Sales Tax, Revenue Bonds | ||
Series A | ||
(zero coupon), due 7/1/22 | 2,945,000 | 2,938,179 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Massachusetts (continued) | ||
Massachusetts Clean Energy Cooperative Corp., Green Bond, Revenue Bonds | ||
1.04%, due 7/1/24 | $ 1,000,000 | $ 957,652 |
Massachusetts Development Finance Agency, Northeastern University Issue, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/22 | 280,000 | 284,089 |
Massachusetts Development Finance Agency, South Shore Hospital Issue, Revenue Bonds | ||
Series I | ||
5.00%, due 7/1/23 | 555,000 | 571,486 |
Massachusetts Educational Financing Authority, Revenue Bonds | ||
Series K | ||
5.00%, due 7/1/22 | 500,000 | 502,734 |
Massachusetts Educational Financing Authority, Revenue Bonds, Senior Lien | ||
Series B | ||
5.00%, due 7/1/25 (b) | 100,000 | 105,688 |
Massachusetts Educational Financing Authority, Educational Loan, Revenue Bonds (b) | ||
Series B | ||
5.00%, due 7/1/24 | 750,000 | 783,886 |
Series B | ||
5.00%, due 7/1/26 | 1,265,000 | 1,363,736 |
Series B | ||
5.00%, due 7/1/27 | 1,950,000 | 2,130,299 |
Massachusetts School Building Authority, Sales Tax, Revenue Bonds, Senior Lien | ||
Series A | ||
5.00%, due 8/15/24 | 110,000 | 110,866 |
Massachusetts State College Building Authority, Capital Appreciation, Revenue Bonds | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 5/1/23 | 145,000 | 141,940 |
Massachusetts State College Building Authority, Revenue Bonds | ||
Series A, Insured: State Intercept | ||
5.00%, due 5/1/36 | 145,000 | 145,000 |
Principal Amount | Value | |
Massachusetts (continued) | ||
Southfield Redevelopment Authority, Revenue Bonds | ||
Series A, Insured: BAM | ||
6.00%, due 8/15/22 | $ 400,000 | $ 404,950 |
Series A, Insured: BAM | ||
6.00%, due 8/15/23 | 400,000 | 418,093 |
Series A, Insured: BAM | ||
6.00%, due 8/15/24 | 455,000 | 488,145 |
Series A, Insured: BAM | ||
6.00%, due 8/15/25 | 455,000 | 501,083 |
Town of Douglas MA, MUNI Purpose Loan, Limited General Obligation | ||
4.00%, due 6/1/22 | 100,000 | 100,218 |
19,875,606 | ||
Michigan 2.7% | ||
Allen Park Public School District, Unlimited General Obligation | ||
Insured: Q-SBLF | ||
5.00%, due 5/1/24 | 630,000 | 660,380 |
Allendale Public School District, Unlimited General Obligation | ||
Insured: Q-SBLF | ||
5.00%, due 11/1/22 | 525,000 | 533,909 |
Caledonia Community Schools, Unlimited General Obligation | ||
Insured: Q-SBLF | ||
5.00%, due 5/1/22 | 570,000 | 570,000 |
City of Dearborn Heights MI, Capital Improvement, Limited General Obligation | ||
Insured: BAM | ||
3.00%, due 5/1/22 | 4,450,000 | 4,450,000 |
City of Manistee MI, Limited General Obligation | ||
Insured: AGM | ||
3.00%, due 10/1/24 | 200,000 | 201,872 |
Insured: AGM | ||
3.00%, due 10/1/25 | 170,000 | 171,890 |
City of Marquette MI, Limited General Obligation | ||
Insured: BAM | ||
4.00%, due 5/1/22 | 330,000 | 330,000 |
Insured: BAM | ||
4.00%, due 5/1/25 | 700,000 | 730,341 |
38 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Michigan (continued) | ||
City of Port Huron MI, Water Supply System, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 10/1/23 | $ 200,000 | $ 204,338 |
Insured: AGM | ||
4.00%, due 10/1/24 | 200,000 | 206,232 |
Insured: AGM | ||
4.00%, due 10/1/25 | 210,000 | 219,070 |
City of Saginaw MI, Water Supply System, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 7/1/24 | 990,000 | 1,021,275 |
Insured: AGM | ||
4.00%, due 7/1/27 | 905,000 | 957,298 |
City of Taylor MI, Michigan Transportation, Limited General Obligation | ||
Insured: BAM | ||
4.00%, due 3/1/26 | 455,000 | 476,294 |
Insured: BAM | ||
4.00%, due 3/1/28 | 900,000 | 951,533 |
County of Genesee MI, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 6/1/22 | 155,000 | 155,224 |
Series A, Insured: BAM | ||
3.00%, due 6/1/23 | 150,000 | 151,378 |
Series A, Insured: BAM | ||
3.00%, due 6/1/24 | 160,000 | 161,278 |
County of Genesee MI, Water Supply System, Limited General Obligation | ||
Series B, Insured: BAM | ||
5.00%, due 2/1/23 | 400,000 | 409,376 |
Detroit City School District, Unlimited General Obligation | ||
Series A, Insured: Q-SBLF | ||
5.00%, due 5/1/24 | 5,000,000 | 5,000,000 |
Fitzgerald Public School District, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 5/1/24 | 870,000 | 894,960 |
Flint Public Library, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 5/1/26 | 10,000 | 10,158 |
Principal Amount | Value | |
Michigan (continued) | ||
Jackson County Intermediate School District, School Building and Site Bonds, Limited General Obligation | ||
Insured: AGM | ||
5.00%, due 5/1/25 | $ 250,000 | $ 267,783 |
Insured: AGM | ||
5.00%, due 5/1/26 | 260,000 | 283,519 |
Insured: AGM | ||
5.00%, due 5/1/27 | 275,000 | 303,883 |
Lake Superior State University, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 11/15/25 | 760,000 | 788,871 |
Insured: AGM | ||
4.00%, due 11/15/27 | 815,000 | 851,187 |
Michigan Finance Authority, Revenue Bonds, Senior Lien | ||
Series A-1 | ||
2.326%, due 6/1/30 | 6,112,571 | 5,855,375 |
Michigan Finance Authority, Energy Conservation Local Project, Revenue Bonds | ||
Series B | ||
4.00%, due 6/15/22 | 100,000 | 100,323 |
Series B | ||
4.00%, due 6/15/23 | 240,000 | 245,069 |
Series B | ||
4.00%, due 6/15/24 | 270,000 | 277,588 |
Series B | ||
4.00%, due 6/15/25 | 200,000 | 207,753 |
Series B | ||
4.00%, due 6/15/26 | 385,000 | 403,788 |
Michigan Finance Authority, Tobacco Settlement Asset-Backed, Revenue Bonds, Senior Lien | ||
Series A, Class 1 | ||
4.00%, due 6/1/23 | 660,000 | 668,047 |
Series A, Class 1 | ||
5.00%, due 6/1/25 | 1,000,000 | 1,052,088 |
Michigan Finance Authority, Kettering University Project, Revenue Bonds | ||
5.00%, due 9/1/22 | 175,000 | 176,998 |
5.00%, due 9/1/24 | 200,000 | 209,057 |
5.00%, due 9/1/27 | 550,000 | 596,352 |
5.00%, due 9/1/28 | 500,000 | 547,133 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Michigan (continued) | ||
Michigan Finance Authority, County of Wayne Criminal Center Justice Project, Revenue Bonds, Senior Lien | ||
5.00%, due 11/1/22 | $ 500,000 | $ 507,911 |
Michigan Finance Authority, Student Loan Program, Revenue Bonds | ||
Series 25-A | ||
5.00%, due 11/1/22 (b) | 1,775,000 | 1,803,792 |
Michigan Strategic Fund, State of Michigan Department of Technology Management & Budget, Revenue Bonds | ||
5.00%, due 3/1/27 | 1,000,000 | 1,064,232 |
Royal Oak Hospital Finance Authority, Beaumont Health, Revenue Bonds | ||
5.00%, due 9/1/23 | 1,390,000 | 1,441,731 |
Saginaw City School District, Unlimited General Obligation | ||
Insured: Q-SBLF | ||
4.00%, due 5/1/22 | 310,000 | 310,000 |
Insured: Q-SBLF | ||
4.00%, due 5/1/25 | 1,785,000 | 1,849,815 |
South Huron Valley Utility Authority, Revenue Bonds | ||
Insured: BAM | ||
3.00%, due 5/1/22 | 360,000 | 360,000 |
Insured: BAM | ||
3.00%, due 5/1/23 | 480,000 | 484,153 |
Insured: BAM | ||
4.00%, due 5/1/24 | 500,000 | 515,429 |
Insured: BAM | ||
4.00%, due 5/1/25 | 515,000 | 535,961 |
Universal Academy, Michigan Public School Academy, Revenue Bonds | ||
2.00%, due 12/1/26 | 425,000 | 388,921 |
Wayne County Airport Authority, Detroit Metropolitan Wayne County Airport, Revenue Bonds | ||
Series C | ||
5.00%, due 12/1/23 | 500,000 | 519,703 |
Wayne County Airport Authority, Revenue Bonds | ||
Series F | ||
5.00%, due 12/1/25 (b) | 2,495,000 | 2,653,142 |
43,736,410 |
Principal Amount | Value | |
Minnesota 0.4% | ||
Becker Independent School District No. 726, Unlimited General Obligation | ||
Series A, Insured: SD CRED PROG | ||
5.00%, due 2/1/24 | $ 560,000 | $ 585,301 |
Duluth Independent School District No. 709, Certificate of Participation | ||
Series A, Insured: SD CRED PROG | ||
0.87%, due 2/1/24 | 390,000 | 374,188 |
Kenyon Wanamingo Independent School District No. 2172, Unlimited General Obligation | ||
Series A, Insured: SD CRED PROG | ||
3.00%, due 2/1/23 | 830,000 | 836,506 |
Minneapolis-St. Paul Metropolitan Airports Commission, Revenue Bonds | ||
Series B | ||
5.00%, due 1/1/23 | 200,000 | 203,904 |
Minnesota Office of Higher Education, Supplemental Student Loan Program, Revenue Bonds | ||
5.00%, due 11/1/24 (b) | 590,000 | 618,844 |
Minnesota Rural Water Finance Authority, Inc., Public Projects Construction Notes, Revenue Bonds | ||
0.25%, due 8/1/22 | 1,250,000 | 1,243,324 |
State of Minnesota, Unlimited General Obligation | ||
Series B | ||
5.00%, due 8/1/28 | 2,000,000 | 2,274,931 |
6,136,998 | ||
Mississippi 0.4% | ||
City of Jackson MS, Unlimited General Obligation | ||
5.00%, due 3/1/23 | 325,000 | 332,786 |
Series A, Insured: BAM | ||
5.00%, due 5/1/26 | 145,000 | 155,262 |
Mississippi Development Bank, Hinds County School District Project, Revenue Bonds | ||
4.00%, due 3/1/24 | 330,000 | 339,704 |
40 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Mississippi (continued) | ||
Mississippi Development Bank, Municipal Energy Agency of Mississippi Power Supply Refunding Project, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 3/1/25 | $ 1,285,000 | $ 1,369,348 |
Insured: AGM | ||
5.00%, due 3/1/27 | 300,000 | 324,620 |
Mississippi Development Bank, Madison County Highway Project, Revenue Bonds | ||
Series C | ||
5.00%, due 1/1/26 | 2,210,000 | 2,367,880 |
State of Mississippi, Gaming Tax, Revenue Bonds | ||
Series A | ||
5.00%, due 10/15/22 | 1,000,000 | 1,014,492 |
West Rankin Utility Authority, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 1/1/26 | 435,000 | 463,224 |
6,367,316 | ||
Missouri 0.4% | ||
City of Kansas City MO, Main Streetcar Extension Project, Revenue Bonds | ||
Series C | ||
5.00%, due 9/1/24 | 1,000,000 | 1,054,058 |
Series C | ||
5.00%, due 9/1/27 | 1,000,000 | 1,102,267 |
Series C | ||
5.00%, due 9/1/28 | 1,000,000 | 1,111,741 |
City of St Louis MO, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
5.00%, due 2/15/30 | 400,000 | 433,427 |
Health & Educational Facilities Authority of the State of Missouri, Lake Regional Health System, Revenue Bonds | ||
5.00%, due 2/15/25 | 160,000 | 170,178 |
5.00%, due 2/15/26 | 225,000 | 243,634 |
5.00%, due 2/15/27 | 250,000 | 274,871 |
5.00%, due 2/15/28 | 260,000 | 289,009 |
Principal Amount | Value | |
Missouri (continued) | ||
Hickman Mills C-1 School District, MO Direct Deposit Program, Unlimited General Obligation | ||
Insured: State Aid Direct Deposit | ||
4.00%, due 3/1/27 | $ 265,000 | $ 271,977 |
Kansas City Municipal Assistance Corp., Capital Appreciation, Revenue Bonds | ||
Insured: AGC-ICC AMBAC | ||
(zero coupon), due 4/15/23 | 880,000 | 863,704 |
Lincoln University, Auxiliary System, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 6/1/22 | 300,000 | 300,875 |
Insured: AGM | ||
5.00%, due 6/1/23 | 320,000 | 329,548 |
6,445,289 | ||
Montana 0.3% | ||
Gallatin County School District No. 72 Ophir, Unlimited General Obligation | ||
Series A | ||
2.00%, due 7/1/22 | 290,000 | 290,331 |
Series A | ||
2.00%, due 7/1/23 | 200,000 | 199,729 |
4.00%, due 7/1/22 | 450,000 | 451,955 |
4.00%, due 7/1/23 | 260,000 | 265,577 |
4.00%, due 7/1/25 | 715,000 | 746,367 |
4.00%, due 7/1/26 | 750,000 | 791,437 |
Montana Facility Finance Authority, Kalispell Regional Medical Center, Revenue Bonds | ||
4.378%, due 7/1/22 | 915,000 | 918,366 |
State of Montana, Unlimited General Obligation | ||
Series C | ||
5.00%, due 8/1/22 | 225,000 | 227,053 |
Series C | ||
5.00%, due 8/1/24 | 440,000 | 465,487 |
4,356,302 | ||
Nebraska 1.3% | ||
Ashland-Greenwood Public Schools, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 12/15/23 | 100,000 | 102,761 |
Insured: AGM | ||
4.00%, due 12/15/24 | 100,000 | 103,925 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Nebraska (continued) | ||
Ashland-Greenwood Public Schools, Unlimited General Obligation (continued) | ||
Insured: AGM | ||
4.00%, due 12/15/25 | $ 100,000 | $ 104,747 |
Insured: AGM | ||
4.00%, due 12/15/26 | 135,000 | 142,656 |
Central Plains Energy Project, Nebraska Gas Project No. 4, Revenue Bonds | ||
5.00%, due 3/1/50 (a) | 9,845,000 | 10,103,979 |
Central Plains Energy Project, Nebraska Gas Project No. 3, Revenue Bonds | ||
5.25%, due 9/1/37 | 3,500,000 | 3,537,341 |
Cheyenne County School District No. 1, Unlimited General Obligation | ||
Series B, Insured: AGM | ||
4.00%, due 12/15/22 | 585,000 | 593,092 |
Series B, Insured: AGM | ||
4.00%, due 12/15/23 | 650,000 | 667,527 |
City of Grand Island NE, Combined Utility System, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 8/15/22 | 500,000 | 503,677 |
Series A, Insured: AGM | ||
4.00%, due 8/15/23 | 400,000 | 408,967 |
Series A, Insured: AGM | ||
4.00%, due 8/15/24 | 225,000 | 232,503 |
Lincoln Airport Authority, Revenue Bonds | ||
5.00%, due 7/1/23 | 55,000 | 56,717 |
5.00%, due 7/1/24 | 745,000 | 784,272 |
5.00%, due 7/1/25 | 575,000 | 617,036 |
5.00%, due 7/1/26 | 790,000 | 861,030 |
5.00%, due 7/1/27 | 1,300,000 | 1,436,544 |
Omaha Airport Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 12/15/22 (b) | 620,000 | 630,896 |
University of Nebraska Facilities Corp., UNMC Utiity Improvement Project, Revenue Bonds | ||
2.00%, due 2/15/23 | 200,000 | 200,361 |
21,088,031 |
Principal Amount | Value | |
Nevada 0.7% | ||
Clark County School District, Limited General Obligation | ||
Series A, Insured: AGM | ||
3.00%, due 6/15/22 | $ 750,000 | $ 751,494 |
Series A, Insured: AGM | ||
3.00%, due 6/15/23 | 650,000 | 656,091 |
Series A, Insured: AGM | ||
3.00%, due 6/15/24 | 650,000 | 656,982 |
Series C | ||
5.00%, due 6/15/22 | 1,520,000 | 1,526,552 |
Series C | ||
5.00%, due 6/15/23 | 1,650,000 | 1,700,739 |
Series C | ||
5.00%, due 6/15/23 | 500,000 | 515,376 |
Series D | ||
5.00%, due 6/15/27 | 275,000 | 279,986 |
Las Vegas Convention & Visitors Authority, Revenue Bonds | ||
Series B | ||
5.00%, due 7/1/23 | 150,000 | 154,508 |
5.00%, due 7/1/26 | 2,000,000 | 2,168,335 |
Series B | ||
5.00%, due 7/1/29 | 290,000 | 322,762 |
Las Vegas Valley Water District, Limited General Obligation | ||
Series A | ||
5.00%, due 6/1/23 | 110,000 | 113,390 |
State of Nevada, Limited General Obligation | ||
Series B | ||
5.00%, due 5/1/22 | 2,000,000 | 2,000,000 |
Washoe County School District, School Improvement Bonds, Limited General Obligation | ||
Series A | ||
5.00%, due 10/1/22 | 300,000 | 304,331 |
Series A | ||
5.00%, due 10/1/23 | 535,000 | 556,179 |
11,706,725 | ||
New Hampshire 0.0% ‡ | ||
New Hampshire Business Finance Authority, Pennichuck Water Works, Inc. Project, Revenue Bonds | ||
5.00%, due 1/1/23 (b) | 600,000 | 611,952 |
42 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New Jersey 5.6% | ||
Atlantic City Board of Education, Unlimited General Obligation | ||
Insured: AGM SCH BD RES FD | ||
4.00%, due 4/1/24 | $ 325,000 | $ 334,397 |
Borough of Wenonah NJ, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 10/15/23 | 365,000 | 374,859 |
Insured: BAM | ||
4.00%, due 10/15/24 | 370,000 | 382,665 |
Buena Regional School District, County of Atlantic, New Jersey School Energy Savings, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 8/1/24 | 220,000 | 232,248 |
Camden County Improvement Authority (The), Rowan University Project, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 7/1/24 | 2,000,000 | 2,098,094 |
Casino Reinvestment Development Authority, Inc., Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 11/1/27 | 500,000 | 522,923 |
City of Bridgeton NJ, General Improvement and Water\Sewer Utility Bonds, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 3/1/26 | 625,000 | 629,857 |
Insured: BAM | ||
3.00%, due 3/1/27 | 390,000 | 391,971 |
Insured: BAM | ||
3.00%, due 3/1/28 | 855,000 | 855,722 |
City of East Orange NJ, Unlimited General Obligation | ||
Series B, Insured: AGM State Aid Withholding | ||
5.00%, due 7/15/24 | 375,000 | 394,841 |
City of Millville NJ, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 11/1/23 | 250,000 | 250,180 |
Principal Amount | Value | |
New Jersey (continued) | ||
City of Newark NJ, Unlimited General Obligation | ||
Series B, Insured: SCH BD RES FD | ||
5.00%, due 10/1/22 | $ 500,000 | $ 506,283 |
Series A, Insured: AGM State Aid Withholding | ||
5.00%, due 10/1/23 | 1,000,000 | 1,034,630 |
Series A, Insured: AGM State Aid Withholding | ||
5.00%, due 10/1/24 | 1,000,000 | 1,051,487 |
Series B, Insured: AGM SCH BD RES FD | ||
5.00%, due 10/1/24 | 1,150,000 | 1,209,210 |
Series C, Insured: AGM State Aid Withholding | ||
5.00%, due 10/1/24 | 145,000 | 152,466 |
Series A, Insured: AGM State Aid Withholding | ||
5.00%, due 10/1/25 | 1,400,000 | 1,497,317 |
Series B, Insured: AGM SCH BD RES FD | ||
5.00%, due 10/1/25 | 500,000 | 534,756 |
Series A, Insured: AGM State Aid Withholding | ||
5.00%, due 10/1/26 | 700,000 | 760,627 |
City of Orange Township NJ, Unlimited General Obligation | ||
Insured: AGM State Aid Withholding | ||
4.00%, due 12/1/25 | 1,025,000 | 1,072,869 |
City of Perth Amboy NJ, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 7/1/22 | 615,000 | 618,696 |
Insured: AGM | ||
5.00%, due 7/1/23 | 735,000 | 759,235 |
Insured: AGM | ||
5.00%, due 7/1/24 | 760,000 | 800,392 |
Insured: AGM | ||
5.00%, due 7/1/26 | 735,000 | 801,387 |
City of Trenton NJ, Unlimited General Obligation | ||
Insured: AGM State Aid Withholding | ||
4.00%, due 7/15/24 | 875,000 | 902,119 |
City of Union City NJ, Unlimited General Obligation | ||
Insured: AGM State Aid Withholding | ||
0.05%, due 8/1/24 | 1,430,000 | 1,314,228 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New Jersey (continued) | ||
City of Union City NJ, Unlimited General Obligation (continued) | ||
Insured: AGM State Aid Withholding | ||
2.25%, due 8/1/25 | $ 910,000 | $ 883,725 |
Essex County Improvement Authority, North Star Academy Charter School Project, Revenue Bonds (c) | ||
1.96%, due 8/1/22 | 350,000 | 348,467 |
2.37%, due 8/1/23 | 500,000 | 489,397 |
2.72%, due 8/1/24 | 500,000 | 478,763 |
3.00%, due 8/1/25 | 700,000 | 658,288 |
4.00%, due 7/15/22 | 225,000 | 225,699 |
4.00%, due 7/15/24 | 200,000 | 201,706 |
4.00%, due 7/15/26 | 385,000 | 387,614 |
Garden State Preservation Trust, Revenue Bonds | ||
Series B, Insured: AGM | ||
(zero coupon), due 11/1/22 | 140,000 | 138,540 |
Series A | ||
5.00%, due 11/1/22 | 1,200,000 | 1,217,852 |
Garden State Preservation Trust, Capital Appreciation, Revenue Bonds | ||
Series B, Insured: AGM | ||
(zero coupon), due 11/1/23 | 175,000 | 167,873 |
Gloucester County Improvement Authority (The), Revenue Bonds | ||
Series B, Insured: BAM | ||
5.00%, due 7/1/24 | 1,300,000 | 1,363,761 |
Greater Egg Harbor Regional High School District, Unlimited General Obligation | ||
Insured: AGM SCH BD RES FD | ||
5.00%, due 2/1/23 | 700,000 | 715,724 |
Manchester Township Board of Education, Unlimited General Obligation | ||
Insured: BAM SCH BD RES FD | ||
4.00%, due 3/1/23 | 355,000 | 360,490 |
Morris-Union Jointure Commission, Certificate of Participation | ||
Insured: AGM | ||
5.00%, due 8/1/26 | 420,000 | 432,960 |
New Brunswick Parking Authority, Revenue Bonds | ||
Series B, Insured: MUN GOVT GTD | ||
5.00%, due 9/1/22 | 700,000 | 707,714 |
Principal Amount | Value | |
New Jersey (continued) | ||
New Brunswick Parking Authority, Revenue Bonds (continued) | ||
Series B, Insured: BAM MUN GOVT GTD | ||
5.00%, due 9/1/24 | $ 900,000 | $ 951,583 |
Series B, Insured: BAM MUN GOVT GTD | ||
5.00%, due 9/1/25 | 900,000 | 971,001 |
New Jersey Economic Development Authority, New Jersey-American Water Co., Inc., Revenue Bonds | ||
Series E | ||
0.85%, due 12/1/25 (b) | 1,550,000 | 1,410,282 |
New Jersey Economic Development Authority, School Facilities Construction, Revenue Bonds | ||
Series QQQ | ||
5.00%, due 6/15/22 | 200,000 | 200,826 |
Series QQQ | ||
5.00%, due 6/15/23 | 220,000 | 226,765 |
Series QQQ | ||
5.00%, due 6/15/24 | 300,000 | 313,410 |
New Jersey Economic Development Authority, Facilities Construction, Revenue Bonds | ||
Series FFF | ||
5.00%, due 6/15/23 | 750,000 | 773,063 |
New Jersey Economic Development Authority, Motor Vehicle Surcharge, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 7/1/23 | 2,500,000 | 2,580,386 |
Series A, Insured: BAM | ||
5.00%, due 7/1/27 | 2,275,000 | 2,499,101 |
New Jersey Economic Development Authority, Cigarette Tax, Revenue Bonds | ||
5.00%, due 6/15/24 | 410,000 | 411,819 |
New Jersey Economic Development Authority, New Jersey Transit Corp., Revenue Bonds | ||
Series B | ||
5.00%, due 11/1/25 | 4,035,000 | 4,307,825 |
44 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New Jersey (continued) | ||
New Jersey Economic Development Authority, State of New Jersey Motor Vehicle Surcharge, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 7/1/28 | $ 275,000 | $ 300,096 |
New Jersey Economic Development Authority, School Facility Surcharge, Revenue Bonds | ||
Series N-1, Insured: NATL-RE | ||
5.50%, due 9/1/23 | 1,500,000 | 1,559,158 |
New Jersey Educational Facilities Authority, Stockton University, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 7/1/25 | 3,000,000 | 3,201,428 |
New Jersey Higher Education Student Assistance Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/24 | 1,750,000 | 1,855,890 |
New Jersey Higher Education Student Assistance Authority, Revenue Bonds, Senior Lien | ||
Series B | ||
5.00%, due 12/1/25 (b) | 250,000 | 268,036 |
New Jersey Transportation Trust Fund Authority, Capital Appreciation, Revenue Bonds | ||
Insured: BHAC-CR AMBAC | ||
(zero coupon), due 12/15/24 | 750,000 | 698,241 |
Series C, Insured: AGC-ICC AMBAC | ||
(zero coupon), due 12/15/24 | 375,000 | 346,608 |
Series C, Insured: AGC-ICC AMBAC | ||
(zero coupon), due 12/15/25 | 410,000 | 365,981 |
Insured: BHAC-CR | ||
(zero coupon), due 12/15/27 | 625,000 | 525,635 |
New Jersey Transportation Trust Fund Authority, Transportation System, Revenue Bonds | ||
Series A | ||
(zero coupon), due 12/15/24 | 560,000 | 512,957 |
Series A, Insured: NATL-RE | ||
5.75%, due 6/15/24 | 1,435,000 | 1,521,208 |
Principal Amount | Value | |
New Jersey (continued) | ||
New Jersey Transportation Trust Fund Authority, Capital Appreciation, Transportation System, Revenue Bonds | ||
Series A | ||
(zero coupon), due 12/15/25 | $ 390,000 | $ 343,821 |
New Jersey Transportation Trust Fund Authority, Transportation Program Notes, Revenue Bonds | ||
Series AA | ||
5.00%, due 6/15/22 | 1,500,000 | 1,506,198 |
New Jersey Transportation Trust Fund Authority, Highway Reimbursement Notes, Revenue Bonds | ||
5.00%, due 6/15/23 | 355,000 | 365,717 |
Series A1 | ||
5.00%, due 6/15/25 | 360,000 | 384,869 |
5.00%, due 6/15/31 | 500,000 | 531,473 |
New Jersey Transportation Trust Fund Authority, Transportation Program, Revenue Bonds | ||
Series AA | ||
5.00%, due 6/15/38 | 1,845,000 | 1,852,966 |
Newark Board of Education, School Energy Saving, Unlimited General Obligation | ||
Insured: BAM SCH BD RES FD | ||
5.00%, due 7/15/25 | 600,000 | 643,583 |
Insured: BAM SCH BD RES FD | ||
5.00%, due 7/15/26 | 775,000 | 844,901 |
Insured: BAM SCH BD RES FD | ||
5.00%, due 7/15/28 | 750,000 | 837,951 |
Insured: BAM SCH BD RES FD | ||
5.00%, due 7/15/29 | 1,350,000 | 1,526,325 |
Passaic Valley Sewerage Commission, Revenue Bonds | ||
Series J, Insured: AGM | ||
3.00%, due 12/1/24 | 1,800,000 | 1,816,085 |
Series H, Insured: AGM | ||
5.00%, due 12/1/23 | 2,190,000 | 2,280,455 |
Series H, Insured: AGM | ||
5.00%, due 12/1/24 | 1,510,000 | 1,602,144 |
Plainfield Board of Education, Unlimited General Obligation | ||
Insured: BAM SCH BD RES FD | ||
5.00%, due 8/1/24 | 1,000,000 | 1,050,967 |
Insured: BAM SCH BD RES FD | ||
5.00%, due 8/1/25 | 1,000,000 | 1,070,646 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New Jersey (continued) | ||
Plumsted Township School District, Unlimited General Obligation | ||
Insured: AGM SCH BD RES FD | ||
4.00%, due 7/15/22 | $ 430,000 | $ 432,251 |
Insured: AGM SCH BD RES FD | ||
4.00%, due 7/15/23 | 440,000 | 449,473 |
Salem County Improvement Authority, Finlaw State Office Building Project, Revenue Bonds | ||
Insured: AGM MUN GOVT GTD | ||
4.00%, due 8/15/23 | 300,000 | 305,615 |
Insured: AGM MUN GOVT GTD | ||
4.00%, due 8/15/27 | 505,000 | 525,238 |
Insured: AGM MUN GOVT GTD | ||
4.00%, due 8/15/28 | 400,000 | 416,397 |
Insured: AGM MUN GOVT GTD | ||
4.00%, due 8/15/29 | 300,000 | 312,979 |
South Jersey Transportation Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 11/1/26 | 500,000 | 524,742 |
Series A | ||
5.00%, due 11/1/27 | 500,000 | 523,781 |
Series A | ||
5.00%, due 11/1/28 | 750,000 | 784,078 |
Series A | ||
5.00%, due 11/1/29 | 1,200,000 | 1,252,931 |
State of New Jersey, Various Purpose, Unlimited General Obligation | ||
5.00%, due 6/1/24 | 250,000 | 261,630 |
5.00%, due 6/1/26 | 275,000 | 292,335 |
State of New Jersey, Unlimited General Obligation | ||
5.00%, due 6/1/27 | 2,910,000 | 3,184,660 |
Tobacco Settlement Financing Corp., Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/23 | 1,000,000 | 1,022,780 |
Series A | ||
5.00%, due 6/1/24 | 8,250,000 | 8,560,730 |
Township of Belleville NJ, General Improvement, Water Utility, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 2/1/24 | 970,000 | 979,871 |
Principal Amount | Value | |
New Jersey (continued) | ||
Township of Haddon NJ, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 3/1/23 | $ 10,000 | $ 10,104 |
Township of Irvington NJ, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 6/1/25 | 200,000 | 201,803 |
Township of Lower NJ, Unlimited General Obligation | ||
Insured: AGM-CR | ||
4.00%, due 7/15/23 | 345,000 | 352,262 |
Union Township Board of Education, Green Bond, Unlimited General Obligation | ||
Insured: BAM State Aid Withholding | ||
4.00%, due 8/15/24 | 50,000 | 51,724 |
Insured: BAM State Aid Withholding | ||
4.00%, due 8/15/25 | 290,000 | 303,612 |
Insured: BAM State Aid Withholding | ||
4.00%, due 8/15/26 | 230,000 | 242,995 |
Washington Borough Board of Education, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 7/15/24 | 120,000 | 124,136 |
91,837,559 | ||
New Mexico 0.4% | ||
Albuquerque Municipal School District No. 12, Unlimited General Obligation | ||
Insured: State Aid Withholding | ||
5.00%, due 8/1/23 | 1,165,000 | 1,205,023 |
County of Colfax NM, Tax Receipts, Revenue Bonds | ||
Insured: BAM | ||
3.00%, due 8/1/22 | 265,000 | 265,628 |
Insured: BAM | ||
3.00%, due 8/1/23 | 270,000 | 271,394 |
Insured: BAM | ||
3.00%, due 8/1/24 | 280,000 | 281,359 |
New Mexico Municipal Energy Acquisition Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 11/1/39 (a) | 4,100,000 | 4,328,331 |
46 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New Mexico (continued) | ||
Village of Los Ranchos de Albuquerque NM, Albuquerque Academy Project, Revenue Bonds | ||
4.00%, due 9/1/23 | $ 135,000 | $ 137,341 |
4.00%, due 9/1/24 | 100,000 | 102,477 |
4.00%, due 9/1/25 | 150,000 | 154,938 |
5.00%, due 9/1/26 | 170,000 | 183,702 |
6,930,193 | ||
New York 7.4% | ||
Albany County Airport Authority, Revenue Bonds | ||
Series B | ||
5.00%, due 12/15/22 (b) | 250,000 | 254,393 |
Series B | ||
5.00%, due 12/15/23 (b) | 200,000 | 207,384 |
Series A | ||
5.00%, due 12/15/24 | 60,000 | 63,840 |
Series A | ||
5.00%, due 12/15/24 | 480,000 | 506,556 |
Amherst Development Corp., UBF Faculty-Student Housing Corp., Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 10/1/22 | 155,000 | 157,173 |
Insured: BAM | ||
5.00%, due 10/1/23 | 225,000 | 233,460 |
Insured: BAM | ||
5.00%, due 10/1/24 | 230,000 | 243,111 |
Insured: BAM | ||
5.00%, due 10/1/26 | 340,000 | 372,251 |
Brookfield Central School District, Unlimited General Obligation | ||
Insured: AGM State Aid Withholding | ||
3.00%, due 6/15/22 | 310,000 | 310,632 |
Broome County Local Development Corp., United Health Services Hospitals, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 4/1/24 | 700,000 | 733,229 |
Insured: AGM | ||
5.00%, due 4/1/25 | 800,000 | 853,409 |
Camden Central School District, Unlimited General Obligation | ||
Insured: State Aid Withholding | ||
4.00%, due 3/15/23 | 635,000 | 645,710 |
Principal Amount | Value | |
New York (continued) | ||
Camden Central School District, Unlimited General Obligation (continued) | ||
Insured: BAM State Aid Withholding | ||
4.00%, due 3/15/25 | $ 765,000 | $ 793,957 |
City of Elmira City NY, Public Improvement, Limited General Obligation | ||
Insured: AGM | ||
4.00%, due 5/1/25 | 865,000 | 900,967 |
Insured: AGM | ||
4.00%, due 5/1/26 | 895,000 | 942,908 |
Insured: AGM | ||
4.00%, due 5/1/28 | 355,000 | 379,429 |
Insured: AGM | ||
4.00%, due 5/1/29 | 140,000 | 150,519 |
City of New York NY, Unlimited General Obligation | ||
Series B-1 | ||
4.00%, due 10/1/24 | 300,000 | 310,415 |
Series H-3 | ||
5.00%, due 8/1/22 | 300,000 | 302,729 |
City of Olean NY, Limited General Obligation | ||
Insured: AGM | ||
4.00%, due 8/1/25 | 415,000 | 432,171 |
City of Yonkers NY, Limited General Obligation | ||
Series E, Insured: AGM | ||
5.00%, due 9/1/23 | 3,035,000 | 3,145,113 |
Series C, Insured: BAM | ||
5.00%, due 10/1/23 | 1,485,000 | 1,541,679 |
County of Rockland NY, Public Improvement, Limited General Obligation | ||
Series C, Insured: AGM | ||
4.00%, due 5/1/23 | 2,000,000 | 2,039,864 |
County of Suffolk NY, Limited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 2/1/24 | 70,000 | 71,986 |
Series B, Insured: AGM | ||
5.00%, due 10/1/22 | 2,045,000 | 2,074,183 |
Series C, Insured: BAM | ||
5.00%, due 2/1/23 | 495,000 | 506,380 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New York (continued) | ||
County of Suffolk NY, Public Improvement, Limited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 6/1/26 | $ 685,000 | $ 738,686 |
Dutchess County Local Development Corp., Health Quest Systems, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/22 | 500,000 | 502,915 |
Erie County Industrial Development Agency (The), City School District Buffalo Project, Revenue Bonds | ||
Series A, Insured: State Aid Withholding | ||
5.00%, due 5/1/27 | 1,095,000 | 1,185,677 |
Genesee Valley Central School District, Unlimited General Obligation | ||
Insured: AGM State Aid Withholding | ||
5.00%, due 6/15/29 | 1,540,000 | 1,744,832 |
Insured: AGM State Aid Withholding | ||
5.00%, due 6/15/30 | 1,565,000 | 1,791,155 |
Long Island Power Authority, Electric System, Revenue Bonds | ||
Series A, Insured: AGM | ||
(zero coupon), due 6/1/23 | 160,000 | 156,085 |
Metropolitan Transportation Authority, Revenue Bonds | ||
Series A | ||
4.00%, due 11/15/26 | 225,000 | 237,869 |
Series B-1 | ||
5.00%, due 5/15/22 | 10,065,000 | 10,076,442 |
Series D-1 | ||
5.00%, due 9/1/22 | 835,000 | 843,645 |
Series A-1 | ||
5.00%, due 2/1/23 | 950,000 | 966,941 |
Series A | ||
5.00%, due 11/15/25 | 1,850,000 | 1,999,599 |
Series A | ||
5.00%, due 11/15/26 | 1,225,000 | 1,242,739 |
Series D | ||
5.00%, due 11/15/26 | 2,500,000 | 2,540,490 |
Series B, Insured: AMBAC | ||
5.25%, due 11/15/24 | 7,695,000 | 8,212,977 |
Principal Amount | Value | |
New York (continued) | ||
Metropolitan Transportation Authority, Green Bond, Revenue Bonds | ||
Series B | ||
5.00%, due 11/15/23 | $ 1,245,000 | $ 1,291,655 |
Metropolitan Transportation Authority, Dedicated Tax Fund, Green Bond, Revenue Bonds | ||
Series B-2 | ||
5.00%, due 11/15/24 | 700,000 | 742,475 |
Monroe County Industrial Development Corp., Rochester Regional Health Project, Revenue Bonds | ||
5.00%, due 12/1/23 | 700,000 | 727,916 |
5.00%, due 12/1/25 | 1,250,000 | 1,336,226 |
Mount Vernon City School District, Unlimited General Obligation | ||
Insured: State Aid Withholding | ||
5.00%, due 8/15/26 | 1,040,000 | 1,131,844 |
Nassau County Local Economic Assistance Corp., Winthrop-University Association Project, Revenue Bonds | ||
5.00%, due 7/1/22 | 1,000,000 | 1,005,879 |
New York City Industrial Development Agency, Queens Baseball Stadium Project, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 1/1/26 | 1,000,000 | 1,066,422 |
Insured: AGM | ||
5.00%, due 1/1/27 | 1,500,000 | 1,620,212 |
New York City Industrial Development Agency, Yankee Stadium Project, Revenue Bonds | ||
Insured: NATL-RE | ||
8.731%, due 3/1/24 (e) | 500,000 | 507,679 |
New York Convention Center Development Corp., Hotel Unit Fee, Revenue Bonds | ||
5.00%, due 11/15/27 | 400,000 | 428,546 |
New York State Dormitory Authority, Interagency Coumcil Pooled Loan Program, Revenue Bonds | ||
4.00%, due 7/1/22 | 400,000 | 401,626 |
4.00%, due 7/1/23 | 430,000 | 438,377 |
48 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New York (continued) | ||
New York State Dormitory Authority, St Joseph's College, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/22 | $ 420,000 | $ 422,021 |
Series A | ��� | |
5.00%, due 7/1/23 | 880,000 | 901,852 |
New York State Dormitory Authority, School District Revenue Financing Program, Revenue Bonds | ||
Insured: AGM State Aid Withholding | ||
5.00%, due 10/1/22 | 140,000 | 140,374 |
Series C, Insured: State Aid Withholding | ||
5.00%, due 10/1/26 | 1,000,000 | 1,013,480 |
New York State Dormitory Authority, Revenue Bonds | ||
Series A, Insured: State Aid Withholding | ||
5.00%, due 10/1/23 | 4,150,000 | 4,304,278 |
New York State Dormitory Authority, Frodham University, Revenue Bonds | ||
5.00%, due 7/1/24 | 665,000 | 697,903 |
New York State Dormitory Authority, Montefiore Obligated Group, Revenue Bonds | ||
5.00%, due 8/1/25 | 1,535,000 | 1,593,044 |
New York State Dormitory Authority, General Purpose, Revenue Bonds | ||
Series A | ||
5.00%, due 12/15/26 | 550,000 | 559,802 |
New York State Energy Research & Development Authority, Green Bond, Revenue Bonds | ||
Series A | ||
3.745%, due 4/1/24 | 1,100,000 | 1,106,581 |
Series A | ||
3.845%, due 4/1/25 | 1,100,000 | 1,101,852 |
New York State Environmental Facilities Corp., Green Bond, Revenue Bonds | ||
5.00%, due 3/15/26 | 110,000 | 117,812 |
Principal Amount | Value | |
New York (continued) | ||
New York Transportation Development Corp., Delta Air Lines, Inc. Laguardia Airport Terminals C&D Redevelopment Project, Revenue Bonds | ||
5.00%, due 1/1/23 (b) | $ 4,335,000 | $ 4,375,224 |
New York Transportation Development Corp., Terminal One Group Association LP, Revenue Bonds | ||
5.00%, due 1/1/23 (b) | 1,000,000 | 1,016,000 |
New York Transportation Development Corp., John F. kennedy International Airport Project, Revenue Bonds | ||
5.00%, due 12/1/23 | 2,000,000 | 2,064,658 |
5.00%, due 12/1/24 (b) | 3,375,000 | 3,505,534 |
5.00%, due 12/1/25 (b) | 3,690,000 | 3,865,225 |
5.00%, due 12/1/25 | 1,600,000 | 1,692,515 |
New York Transportation Development Corp., Terminal 4 JFK International Airport Project, Revenue Bonds (b) | ||
5.00%, due 12/1/26 | 5,000,000 | 5,266,345 |
5.00%, due 12/1/29 | 5,000,000 | 5,319,849 |
Niagara Falls City School District, Certificate of Participation | ||
Insured: AGM | ||
4.00%, due 6/15/26 | 200,000 | 205,413 |
Insured: AGM | ||
5.00%, due 6/15/24 | 1,100,000 | 1,151,791 |
Insured: AGM | ||
5.00%, due 6/15/25 | 950,000 | 996,130 |
Niagara Falls City School District, Unlimited General Obligation | ||
Insured: BAM State Aid Withholding | ||
5.00%, due 6/15/25 | 1,375,000 | 1,477,239 |
Niagara Frontier Transportation Authority, Revenue Bonds | ||
5.00%, due 4/1/23 (b) | 825,000 | 843,984 |
Niagara Frontier Transportation Authority, Buffalo Niagara International Airport, Revenue Bonds | ||
Series A | ||
5.00%, due 4/1/23 (b) | 2,195,000 | 2,245,509 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New York (continued) | ||
Onondaga Civic Development Corp., Upstate Properties Development, Inc. Project, Revenue Bonds | ||
Insured: BAM | ||
1.078%, due 12/1/23 | $ 690,000 | $ 669,763 |
Insured: BAM | ||
1.167%, due 12/1/24 | 700,000 | 663,043 |
Port Authority of New York & New Jersey, Revenue Bonds | ||
Series 173 | ||
4.00%, due 12/1/26 | 220,000 | 220,355 |
Series 188 | ||
5.00%, due 5/1/24 (b) | 665,000 | 693,633 |
Series 178 | ||
5.00%, due 12/1/25 (b) | 265,000 | 275,359 |
Series 179 | ||
5.00%, due 12/1/25 | 190,000 | 197,908 |
5.00%, due 12/15/25 | 150,000 | 158,077 |
Suffolk County Economic Development Corp., Catholic Health Services of Long Island Obligated Group, Revenue Bonds | ||
Series C | ||
5.00%, due 7/1/26 | 1,280,000 | 1,343,607 |
Suffolk Tobacco Asset Securitization Corp., Tobacco Settlement, Asset Backed, Revenue Bonds | ||
Series B-1 | ||
0.45%, due 6/1/31 | 1,500,000 | 1,480,067 |
Syracuse Regional Airport Authority, Revenue Bonds (b) | ||
5.00%, due 7/1/23 | 565,000 | 580,667 |
5.00%, due 7/1/24 | 700,000 | 728,636 |
5.00%, due 7/1/25 | 785,000 | 827,227 |
Town of Oyster Bay NY, Limited General Obligation | ||
Insured: AGM | ||
3.25%, due 8/1/22 | 50,000 | 50,210 |
4.00%, due 11/1/22 | 945,000 | 955,930 |
Insured: BAM | ||
4.00%, due 11/1/23 | 365,000 | 373,675 |
Insured: BAM | ||
4.00%, due 2/15/24 | 115,000 | 118,062 |
4.00%, due 3/1/24 | 650,000 | 667,114 |
Insured: BAM | ||
4.00%, due 11/1/24 | 930,000 | 959,372 |
Principal Amount | Value | |
New York (continued) | ||
Town of Oyster Bay NY, Limited General Obligation (continued) | ||
Insured: BAM | ||
4.00%, due 11/1/25 | $ 1,300,000 | $ 1,352,031 |
Town of Poughkeepsie NY, Library Purpose, Limited General Obligation | ||
Insured: BAM | ||
3.125%, due 12/15/24 | 100,000 | 100,463 |
Whitesboro Central School District, Unlimited General Obligation | ||
Insured: AGM State Aid Withholding | ||
4.00%, due 6/15/25 | 2,325,000 | 2,432,159 |
121,944,130 | ||
North Carolina 0.8% | ||
County of Cabarrus NC, Installment Financing Program, Revenue Bonds | ||
5.00%, due 6/1/22 | 150,000 | 150,454 |
County of Guilford NC, Unlimited General Obligation | ||
4.00%, due 3/1/26 | 200,000 | 211,451 |
North Carolina Capital Facilities Finance Agency, Campbell University, Revenue Bonds | ||
Series B | ||
1.05%, due 10/1/23 | 1,000,000 | 965,176 |
North Carolina Capital Facilities Finance Agency, High Point University, Revenue Bonds | ||
4.00%, due 5/1/23 | 50,000 | 50,853 |
4.00%, due 5/1/24 | 190,000 | 194,742 |
5.00%, due 5/1/25 | 240,000 | 255,002 |
5.00%, due 5/1/26 | 275,000 | 296,408 |
5.00%, due 5/1/27 | 395,000 | 430,895 |
5.00%, due 5/1/28 | 400,000 | 439,745 |
North Carolina Turnpike Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/23 | 250,000 | 256,932 |
North Carolina Turnpike Authority, Triangle Expressway System, Revenue Bonds, Senior Lien | ||
5.00%, due 2/1/24 | 9,100,000 | 9,447,690 |
50 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
North Carolina (continued) | ||
Winston-Salem State University, Student Housing Project, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 6/1/24 | $ 500,000 | $ 525,436 |
13,224,784 | ||
North Dakota 0.1% | ||
City of Grand Forks ND, Altru Health System Obligated Group, Revenue Bonds | ||
5.00%, due 12/1/23 | 160,000 | 166,609 |
5.00%, due 12/1/24 | 150,000 | 157,543 |
5.00%, due 12/1/25 | 215,000 | 229,153 |
5.00%, due 12/1/26 | 275,000 | 296,854 |
University of North Dakota, Certificate of Participation | ||
Series A, Insured: AGM | ||
5.00%, due 6/1/24 | 800,000 | 839,866 |
1,690,025 | ||
Ohio 1.2% | ||
Akron Bath Copley Joint Township Hospital District, Summa Health System Obligated Group, Revenue Bonds | ||
5.00%, due 11/15/25 | 250,000 | 266,109 |
5.00%, due 11/15/26 | 400,000 | 430,844 |
Bethel Local School District, School Facilities, Certificate of Participation | ||
Insured: BAM | ||
4.00%, due 12/1/22 | 120,000 | 121,503 |
Insured: BAM | ||
4.00%, due 12/1/23 | 175,000 | 179,341 |
Insured: BAM | ||
4.00%, due 12/1/24 | 250,000 | 258,930 |
Buckeye Tobacco Settlement Financing Authority, Revenue Bonds, Senior Lien | ||
Series A-1 | ||
2.00%, due 6/1/27 | 5,370,000 | 4,933,440 |
City of Cleveland OH, Airport System, Revenue Bonds | ||
Series B | ||
5.00%, due 1/1/23 (b) | 400,000 | 406,745 |
Principal Amount | Value | |
Ohio (continued) | ||
City of Cleveland OH, Airport System, Revenue Bonds (continued) | ||
Series C | ||
5.00%, due 1/1/24 | $ 430,000 | $ 446,916 |
City of Dayton OH, Airport, Revenue Bonds (b) | ||
Series A, Insured: AGM | ||
5.00%, due 12/1/23 | 1,155,000 | 1,157,297 |
Insured: AGM | ||
5.00%, due 12/1/25 | 585,000 | 586,493 |
City of Lorain OH, Limited General Obligation | ||
Insured: BAM | ||
3.00%, due 12/1/22 | 300,000 | 302,196 |
Insured: BAM | ||
3.00%, due 12/1/24 | 800,000 | 807,747 |
Series A, Insured: BAM | ||
4.00%, due 12/1/23 | 300,000 | 307,677 |
City of Middleburg Heights OH, Southwest General Health Center Project, Revenue Bonds | ||
1.949%, due 8/1/22 | 200,000 | 200,233 |
4.00%, due 8/1/22 | 160,000 | 161,008 |
4.00%, due 8/1/23 | 125,000 | 127,691 |
4.00%, due 8/1/24 | 180,000 | 185,040 |
4.00%, due 8/1/25 | 150,000 | 155,685 |
City of Sharonville OH, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 12/1/22 | 300,000 | 304,087 |
Insured: BAM | ||
4.00%, due 12/1/23 | 580,000 | 595,296 |
Insured: BAM | ||
4.00%, due 12/1/24 | 745,000 | 772,555 |
Insured: BAM | ||
4.00%, due 12/1/25 | 715,000 | 748,641 |
Cleveland-Cuyahoga County Port Authority, Cleveland Museum of Natural History Project, Revenue Bonds | ||
5.00%, due 7/1/25 | 125,000 | 133,549 |
5.00%, due 7/1/26 | 125,000 | 135,572 |
5.00%, due 7/1/27 | 125,000 | 137,184 |
5.00%, due 7/1/28 | 125,000 | 138,401 |
Cloverleaf Local School District, Certificate of Participation | ||
Insured: BAM | ||
3.00%, due 12/1/22 | 355,000 | 357,640 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Ohio (continued) | ||
Cloverleaf Local School District, Certificate of Participation (continued) | ||
Insured: BAM | ||
3.00%, due 12/1/23 | $ 365,000 | $ 369,003 |
Insured: BAM | ||
4.00%, due 12/1/26 | 275,000 | 290,988 |
Conotton Valley Union Local School District, School Facilities Project, Certificate of Participation | ||
Insured: AGM | ||
5.00%, due 12/1/26 | 300,000 | 324,191 |
Hillsdale Local School District, School Facilities Project, Certificate of Participation | ||
Insured: BAM | ||
4.00%, due 12/1/22 | 1,200,000 | 1,215,513 |
Insured: BAM | ||
4.00%, due 12/1/23 | 675,000 | 692,272 |
Lancaster Port Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 8/1/22 | 235,000 | 236,712 |
Ohio Higher Educational Facility Commission, Revenue Bonds | ||
5.00%, due 10/1/22 | 385,000 | 390,318 |
State of Ohio, University Hospitals Health System, Inc., Revenue Bonds | ||
Series E | ||
5.00%, due 1/15/24 | 400,000 | 417,372 |
State of Ohio, Premier Health Partners Obligated Group, Revenue Bonds | ||
5.00%, due 11/15/24 | 135,000 | 142,161 |
5.00%, due 11/15/25 | 140,000 | 149,651 |
5.00%, due 11/15/26 | 140,000 | 151,780 |
Triway Local School District, Certificate of Participation | ||
Insured: BAM | ||
4.00%, due 12/1/26 | 630,000 | 664,676 |
19,402,457 | ||
Oklahoma 0.1% | ||
Tulsa Airports Improvement Trust, Revenue Bonds (b) | ||
Series A, Insured: BAM | ||
5.00%, due 6/1/23 | 1,285,000 | 1,319,175 |
Principal Amount | Value | |
Oklahoma (continued) | ||
Tulsa Airports Improvement Trust, Revenue Bonds (b) (continued) | ||
Series A, Insured: BAM | ||
5.625%, due 6/1/38 | $ 225,000 | $ 232,983 |
1,552,158 | ||
Oregon 0.5% | ||
Clackamas County School District No. 12 North Clackamas, Unlimited General Obligation | ||
Series B, Insured: School Bond Guaranty | ||
5.00%, due 6/15/24 | 100,000 | 105,491 |
Columbia County School District No. 502, Unlimited General Obligation | ||
Insured: School Bond Guaranty | ||
(zero coupon), due 6/15/26 | 565,000 | 615,774 |
County of Yamhill OR, George Fox University Project, Revenue Bonds | ||
4.00%, due 12/1/22 | 175,000 | 177,161 |
4.00%, due 12/1/23 | 150,000 | 153,533 |
4.00%, due 12/1/25 | 780,000 | 808,584 |
Salem-Keizer School District No. 24J, Limited General Obligation | ||
(zero coupon), due 6/15/23 | 950,000 | 926,201 |
(zero coupon), due 6/15/24 | 1,785,000 | 1,688,426 |
(zero coupon), due 6/15/25 | 1,830,000 | 1,678,390 |
Warm Springs Reservation Confederated Tribe, Pelton-Round Butte Project, Revenue Bonds (c) | ||
2.015%, due 11/1/25 | 750,000 | 705,687 |
2.165%, due 11/1/26 | 1,000,000 | 931,255 |
2.37%, due 11/1/27 | 1,000,000 | 924,078 |
8,714,580 | ||
Pennsylvania 3.6% | ||
Albert Gallatin Area School District, Limited General Obligation | ||
Series A, Insured: AGM State Aid Withholding | ||
4.00%, due 9/1/22 | 900,000 | 907,051 |
Series A, Insured: AGM State Aid Withholding | ||
4.00%, due 9/1/24 | 730,000 | 750,245 |
Series A, Insured: AGM State Aid Withholding | ||
4.00%, due 9/1/25 | 1,130,000 | 1,170,838 |
52 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Pennsylvania (continued) | ||
Allegheny Valley Joint Sewage Authority, Green Bond, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 8/1/23 | $ 100,000 | $ 102,215 |
Bellwood-Antis School District, Limited General Obligation | ||
Series A, Insured: BAM State Aid Withholding | ||
3.00%, due 6/1/24 | 465,000 | 469,936 |
Series AA, Insured: BAM State Aid Withholding | ||
3.00%, due 6/1/24 | 290,000 | 293,078 |
Bethlehem Area School District, Limited General Obligation | ||
Series A, Insured: AGM State Aid Withholding | ||
5.00%, due 2/1/25 | 150,000 | 160,331 |
Borough of Carnegie, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 8/15/24 | 115,000 | 116,171 |
Insured: BAM | ||
3.00%, due 8/15/25 | 100,000 | 101,245 |
Borough of Quakertown PA, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 2/1/23 | 275,000 | 279,197 |
Insured: AGM | ||
4.00%, due 2/1/24 | 55,000 | 56,513 |
Brownsville Area School District, Limited General Obligation | ||
Insured: AGM State Aid Withholding | ||
4.00%, due 11/15/22 | 375,000 | 379,597 |
Butler Area Sewer Authority, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 7/1/25 | 360,000 | 386,432 |
Chichester School District, Capital Appreciation, Unlimited General Obligation | ||
Insured: NATL-RE State Aid Withholding | ||
(zero coupon), due 3/1/25 | 125,000 | 115,687 |
Principal Amount | Value | |
Pennsylvania (continued) | ||
City of Allentown PA, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 10/1/22 | $ 175,000 | $ 176,703 |
Insured: BAM | ||
4.00%, due 10/1/23 | 410,000 | 419,008 |
Insured: BAM | ||
4.00%, due 10/1/24 | 675,000 | 696,672 |
Insured: BAM | ||
4.00%, due 10/1/25 | 245,000 | 255,500 |
City of Bethlehem PA, Unlimited General Obligation | ||
Insured: BAM | ||
5.00%, due 4/1/24 | 225,000 | 236,112 |
City of Lancaster PA, Limited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 11/1/24 | 940,000 | 974,295 |
City of Philadelphia PA, Airport, Revenue Bonds (b) | ||
Series B | ||
5.00%, due 7/1/22 | 1,920,000 | 1,929,868 |
Series B | ||
5.00%, due 7/1/23 | 2,000,000 | 2,053,370 |
City of Pittston PA, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
1.00%, due 11/15/22 | 125,000 | 124,352 |
Series A, Insured: BAM | ||
4.00%, due 11/15/23 | 175,000 | 178,381 |
Series A, Insured: BAM | ||
4.00%, due 11/15/24 | 265,000 | 271,380 |
Series A, Insured: BAM | ||
4.00%, due 11/15/25 | 275,000 | 283,298 |
City of Reading PA, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
5.00%, due 11/1/24 | 1,665,000 | 1,752,555 |
City of Williamsport PA, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 7/1/25 | 500,000 | 534,511 |
Insured: AGM | ||
5.00%, due 7/1/26 | 475,000 | 516,927 |
Commonwealth Financing Authority, Tobacco Master Settlement Payment, Revenue Bonds | ||
5.00%, due 6/1/25 | 1,500,000 | 1,591,060 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Pennsylvania (continued) | ||
County of Lackawanna PA, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
3.00%, due 9/15/29 | $ 100,000 | $ 100,247 |
County of Lawrence PA, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
5.00%, due 5/15/24 | 95,000 | 99,623 |
County of Mercer PA, Unlimited General Obligation | ||
Insured: BAM | ||
2.00%, due 10/1/22 | 325,000 | 325,593 |
Deer Creek Drainage Basin Authority, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 12/1/25 | 365,000 | 393,784 |
Insured: AGM | ||
5.00%, due 12/1/26 | 265,000 | 289,965 |
Forest Hills School District, Limited General Obligation | ||
Insured: BAM State Aid Withholding | ||
5.00%, due 8/15/25 | 285,000 | 307,305 |
Greencastle-Antrim School District, Limited General Obligation | ||
Insured: BAM State Aid Withholding | ||
5.00%, due 4/15/26 | 475,000 | 517,541 |
Indiana County Industrial Development Authority, Foundation for Indiana University of Pennsylvania (The), Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 5/1/23 | 110,000 | 112,257 |
Insured: BAM | ||
5.00%, due 5/1/24 | 110,000 | 114,032 |
Lancaster Higher Education Authority, Harrisburg Area Community College Project, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 10/1/24 | 465,000 | 490,389 |
Laurel Highlands School District, Limited General Obligation | ||
Insured: BAM State Aid Withholding | ||
4.00%, due 2/1/23 | 300,000 | 304,109 |
Insured: BAM State Aid Withholding | ||
4.00%, due 2/1/24 | 315,000 | 321,978 |
Insured: BAM State Aid Withholding | ||
4.00%, due 2/1/25 | 345,000 | 355,660 |
Principal Amount | Value | |
Pennsylvania (continued) | ||
Lycoming County Authority, Pennsylvania College of Technology Project, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 7/1/23 | $ �� 675,000 | $ 697,256 |
Mckeesport Area School District, Capital Appreciation, Unlimited General Obligation | ||
Series C, Insured: AMBAC State Aid Withholding | ||
(zero coupon), due 10/1/28 | 145,000 | 114,781 |
Milton Area School District, Limited General Obligation | ||
Insured: AGM State Aid Withholding | ||
4.00%, due 9/1/23 | 825,000 | 842,891 |
Insured: AGM State Aid Withholding | ||
5.00%, due 9/1/24 | 865,000 | 914,174 |
Insured: AGM State Aid Withholding | ||
5.00%, due 9/1/25 | 900,000 | 970,104 |
Insured: AGM State Aid Withholding | ||
5.00%, due 9/1/26 | 565,000 | 620,407 |
Mount Union Area School District, Limited General Obligation | ||
Insured: BAM State Aid Withholding | ||
4.00%, due 8/1/23 | 1,175,000 | 1,199,714 |
Insured: BAM State Aid Withholding | ||
4.00%, due 8/1/24 | 915,000 | 944,054 |
Municipality of Norristown PA, Unlimited General Obligation | ||
Series B, Insured: AGM | ||
4.00%, due 11/1/22 | 460,000 | 465,343 |
Series B, Insured: AGM | ||
4.00%, due 11/1/23 | 480,000 | 492,264 |
North Huntingdon Township Municipal Authority, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 4/1/28 | 200,000 | 223,692 |
Insured: AGM | ||
5.00%, due 4/1/29 | 365,000 | 413,294 |
Norwin School District, Limited General Obligation | ||
Insured: BAM State Aid Withholding | ||
5.00%, due 11/15/22 | 165,000 | 167,984 |
Insured: BAM State Aid Withholding | ||
5.00%, due 11/15/23 | 175,000 | 182,280 |
Insured: BAM State Aid Withholding | ||
5.00%, due 11/15/25 | 190,000 | 205,888 |
54 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Pennsylvania (continued) | ||
Panther Valley School District, Limited General Obligation | ||
Insured: BAM State Aid Withholding | ||
4.00%, due 10/15/24 | $ 150,000 | $ 155,135 |
Insured: BAM State Aid Withholding | ||
4.00%, due 10/15/25 | 325,000 | 339,829 |
Pennsylvania Economic Development Financing Authority, PPL Electric Utilities Corp., Revenue Bonds | ||
0.40%, due 10/1/23 | 5,000,000 | 4,799,301 |
Pennsylvania Economic Development Financing Authority, Water & Wastewater, Revenue Bonds | ||
3.00%, due 1/1/23 | 745,000 | 749,079 |
Pennsylvania Higher Educational Facilities Authority, Drexel University, Revenue Bonds | ||
5.00%, due 5/1/24 | 325,000 | 339,316 |
Pennsylvania Turnpike Commission, Revenue Bonds | ||
Series C | ||
4.00%, due 12/1/22 | 1,000,000 | 1,012,522 |
Philadelphia Gas Works Co., Revenue Bonds | ||
5.00%, due 8/1/22 | 150,000 | 151,178 |
5.00%, due 10/1/24 | 1,000,000 | 1,056,042 |
Philadelphia Municipal Authority, Revenue Bonds | ||
Series B, Insured: AGM | ||
5.00%, due 1/15/23 | 825,000 | 842,478 |
Pittsburgh School District, Limited General Obligation | ||
Insured: AGM State Aid Withholding | ||
4.00%, due 9/1/26 | 35,000 | 35,731 |
Pittsburgh Water & Sewer Authority, Revenue Bonds, First Lien | ||
Series A, Insured: AGM | ||
5.00%, due 9/1/25 | 1,575,000 | 1,631,091 |
Pottstown School District, Limited General Obligation | ||
Insured: BAM State Aid Withholding | ||
4.00%, due 6/1/22 | 330,000 | 330,713 |
Insured: BAM State Aid Withholding | ||
4.00%, due 6/1/23 | 375,000 | 381,895 |
Insured: BAM State Aid Withholding | ||
4.00%, due 6/1/24 | 650,000 | 665,996 |
Principal Amount | Value | |
Pennsylvania (continued) | ||
Riverside School District, Limited General Obligation | ||
Insured: BAM State Aid Withholding | ||
2.00%, due 10/15/22 | $ 225,000 | $ 225,310 |
Insured: BAM State Aid Withholding | ||
4.00%, due 10/15/25 | 275,000 | 286,900 |
School District of Philadelphia (The), Limited General Obligation | ||
Series F, Insured: BAM State Aid Withholding | ||
5.00%, due 9/1/25 | 500,000 | 540,609 |
Series A, Insured: State Aid Withholding | ||
5.00%, due 9/1/26 | 550,000 | 597,355 |
Shikellamy School District, Limited General Obligation | ||
Series A, Insured: BAM State Aid Withholding | ||
4.00%, due 9/1/25 | 1,015,000 | 1,063,202 |
South Wayne County Water and Sewer Authority, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 2/15/25 | 440,000 | 455,295 |
Insured: BAM | ||
4.00%, due 2/15/26 | 410,000 | 428,098 |
Sports & Exhibition Authority of Pittsburgh and Allegheny County, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 2/1/26 | 1,000,000 | 1,076,526 |
State Public School Building Authority, Central Montgomery County Area Vocational Technical School, Revenue Bonds | ||
Insured: BAM State Aid Withholding | ||
4.00%, due 5/15/22 | 1,000,000 | 1,000,917 |
State Public School Building Authority, Crawford County Career and Technical Center, Revenue Bonds | ||
Insured: BAM State Aid Withholding | ||
4.00%, due 3/1/23 | 395,000 | 401,665 |
Insured: BAM State Aid Withholding | ||
4.00%, due 3/1/24 | 405,000 | 414,714 |
Insured: BAM State Aid Withholding | ||
4.00%, due 3/1/25 | 150,000 | 155,035 |
Insured: BAM State Aid Withholding | ||
4.00%, due 3/1/26 | 185,000 | 192,973 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Pennsylvania (continued) | ||
State Public School Building Authority, Northampton County Area Community College Foundation, Revenue Bonds | ||
Insured: BAM State Aid Withholding | ||
5.00%, due 3/1/23 | $ 520,000 | $ 532,587 |
Insured: BAM State Aid Withholding | ||
5.00%, due 3/1/24 | 560,000 | 586,016 |
State Public School Building Authority, Harrisburg School District, Revenue Bonds | ||
Insured: AGM State Aid Withholding | ||
5.00%, due 12/1/23 | 300,000 | 312,581 |
Insured: AGM State Aid Withholding | ||
5.00%, due 12/1/23 | 1,700,000 | 1,761,629 |
State Public School Building Authority, Community College of Allegheny County, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 7/15/24 | 430,000 | 451,901 |
United School District, Unlimited General Obligation | ||
Insured: AGM State Aid Withholding | ||
3.00%, due 11/15/22 | 525,000 | 528,521 |
Insured: AGM State Aid Withholding | ||
5.00%, due 11/15/23 | 125,000 | 129,873 |
Insured: AGM State Aid Withholding | ||
5.00%, due 11/15/24 | 220,000 | 232,831 |
Unity Township Municipal Authority (The), Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 12/1/23 | 755,000 | 785,945 |
Valley View School District, Limited General Obligation | ||
Series A, Insured: BAM State Aid Withholding | ||
1.25%, due 5/15/23 | 150,000 | 149,664 |
Series B, Insured: BAM State Aid Withholding | ||
1.55%, due 5/15/24 | 600,000 | 582,315 |
Waverly Township Municipal Authority, Revenue Bonds | ||
Insured: BAM State Aid Withholding | ||
4.00%, due 2/15/26 | 415,000 | 431,650 |
Principal Amount | Value | |
Pennsylvania (continued) | ||
West Cornwall Township Municipal Authority, Lebanon Valley Brethren Home Project, Revenue Bonds | ||
4.00%, due 11/15/22 | $ 140,000 | $ 140,986 |
4.00%, due 11/15/24 | 110,000 | 113,097 |
4.00%, due 11/15/25 | 115,000 | 119,023 |
4.00%, due 11/15/26 | 120,000 | 124,482 |
Westmoreland County Industrial Development Authority, Excela Health Project, Revenue Bonds | ||
Series A | ||
4.00%, due 7/1/22 | 300,000 | 301,239 |
Series A | ||
4.00%, due 7/1/23 | 350,000 | 356,940 |
Series A | ||
4.00%, due 7/1/24 | 350,000 | 360,236 |
Wilkinsburg-Penn Joint Water Authority (The), Green Bond, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 9/15/24 | 330,000 | 340,427 |
Insured: BAM | ||
4.00%, due 9/15/25 | 390,000 | 406,015 |
Insured: BAM | ||
4.00%, due 9/15/27 | 650,000 | 686,064 |
Woodland Hills School District, Limited General Obligation | ||
Series A, Insured: BAM State Aid Withholding | ||
4.00%, due 9/1/22 | 485,000 | 488,960 |
York City Sewer Authority, Revenue Bonds | ||
Insured: AGM MUN GOVT GTD | ||
5.00%, due 12/1/26 | 405,000 | 443,336 |
59,164,360 | ||
Puerto Rico 0.1% | ||
Puerto Rico Electric Power Authority, Revenue Bonds | ||
Series PP, Insured: NATL-RE | ||
5.00%, due 7/1/22 | 250,000 | 255,191 |
Series SS, Insured: NATL-RE | ||
5.00%, due 7/1/22 | 250,000 | 255,191 |
56 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Puerto Rico (continued) | ||
Puerto Rico Industrial, Tourist, Educational, Medical and Environmental Control Facilities Financing Authority, Hospital Auxilio Mutuo Obligated Group, Revenue Bonds | ||
5.00%, due 7/1/27 | $ 450,000 | $ 490,485 |
1,000,867 | ||
Rhode Island 0.5% | ||
Providence Public Building Authority, Capital Improvement Projects, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 9/15/23 | 1,000,000 | 1,021,868 |
Rhode Island Health and Educational Building Corp., Rhode Island School of Design, Revenue Bonds | ||
1.067%, due 8/15/23 | 300,000 | 294,184 |
1.313%, due 8/15/24 | 375,000 | 359,876 |
1.503%, due 8/15/25 | 915,000 | 862,892 |
Rhode Island Health and Educational Building Corp., Lifespan Obligated Group, Revenue Bonds | ||
5.00%, due 5/15/25 | 1,000,000 | 1,067,130 |
Rhode Island Housing and Mortgage Finance Corp., Revenue Bonds (f) | ||
Series 77A | ||
5.00%, due 4/1/26 | 1,000,000 | 1,074,435 |
Series 77A | ||
5.00%, due 10/1/26 | 1,180,000 | 1,278,107 |
Rhode Island Student Loan Authority, Revenue Bonds, Senior Lien (b) | ||
Series A | ||
5.00%, due 12/1/24 | 300,000 | 316,998 |
Series A | ||
5.00%, due 12/1/25 | 875,000 | 939,051 |
Rhode Island Student Loan Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/25 (b) | 1,000,000 | 1,073,201 |
8,287,742 |
Principal Amount | Value | |
South Carolina 0.3% | ||
Greenville County School District, Building Equity Sooner, Revenue Bonds | ||
5.00%, due 12/1/22 | $ 130,000 | $ 132,561 |
Piedmont Municipal Power Agency, Revenue Bonds | ||
Series A | ||
4.00%, due 1/1/25 | 1,350,000 | 1,394,217 |
South Carolina Ports Authority, Revenue Bonds | ||
5.00%, due 7/1/29 | 325,000 | 342,956 |
South Carolina Public Service Authority, Revenue Bonds | ||
Series D | ||
5.00%, due 12/1/25 | 725,000 | 727,173 |
Williamsburg County Public Facilities Corp., Williamsburg County Project, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 6/1/22 | 460,000 | 460,983 |
Insured: BAM | ||
4.00%, due 6/1/23 | 500,000 | 509,893 |
Insured: BAM | ||
4.00%, due 6/1/24 | 985,000 | 1,015,687 |
Insured: BAM | ||
4.00%, due 6/1/25 | 1,025,000 | 1,068,018 |
5,651,488 | ||
South Dakota 0.1% | ||
County of Lawrence SD, Certificate of Participation | ||
Insured: AGM | ||
5.00%, due 12/1/22 | 100,000 | 101,888 |
Insured: AGM | ||
5.00%, due 12/1/23 | 100,000 | 104,178 |
Insured: AGM | ||
5.00%, due 12/1/24 | 100,000 | 106,257 |
Insured: AGM | ||
5.00%, due 12/1/25 | 125,000 | 135,257 |
Insured: AGM | ||
5.00%, due 12/1/26 | 100,000 | 109,781 |
South Dakota Health & Educational Facilities Authority, Sanford, Revenue Bonds | ||
1.225%, due 11/1/24 | 450,000 | 426,357 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
South Dakota (continued) | ||
South Dakota Health & Educational Facilities Authority, Monument Health, Revenue Bonds | ||
Series A | ||
5.00%, due 9/1/24 | $ 435,000 | $ 455,599 |
Tri-Valley School District No. 49-6, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 7/15/25 | 150,000 | 161,470 |
Insured: AGM | ||
5.00%, due 7/15/27 | 200,000 | 222,450 |
Insured: AGM | ||
5.00%, due 7/15/28 | 220,000 | 248,060 |
2,071,297 | ||
Tennessee 0.5% | ||
County of Montgomery TN, Unlimited General Obligation | ||
Series A | ||
5.00%, due 6/1/22 | 280,000 | 280,832 |
Memphis-Shelby County Airport Authority, Revenue Bonds | ||
5.00%, due 7/1/25 | 250,000 | 264,220 |
5.00%, due 7/1/26 | 155,000 | 165,907 |
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Trevecca Nazarene University Project, Revenue Bonds | ||
Series B | ||
4.00%, due 10/1/23 | 135,000 | 136,223 |
Series B | ||
4.00%, due 10/1/24 | 170,000 | 171,097 |
Series B | ||
4.00%, due 10/1/25 | 170,000 | 170,931 |
Series B | ||
4.00%, due 10/1/26 | 150,000 | 150,394 |
Series B | ||
4.00%, due 10/1/27 | 195,000 | 194,434 |
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Belmont University, Revenue Bonds | ||
5.00%, due 5/1/22 | 545,000 | 545,000 |
5.00%, due 5/1/25 | 980,000 | 1,038,940 |
5.00%, due 5/1/26 | 950,000 | 1,021,726 |
Principal Amount | Value | |
Tennessee (continued) | ||
New Memphis Arena Public Building Authority, City of Memphis, Revenue Bonds | ||
(zero coupon), due 4/1/28 | $ 1,375,000 | $ 1,248,113 |
Tennessee Energy Acquisition Corp., Revenue Bonds | ||
Series A | ||
4.00%, due 5/1/48 (a) | 2,625,000 | 2,646,473 |
8,034,290 | ||
Texas 9.0% | ||
Aledo Independent School District, Unlimited General Obligation | ||
Insured: PSF-GTD | ||
(zero coupon), due 2/15/26 | 200,000 | 181,059 |
Allen Independent School District, Unlimited General Obligation | ||
Insured: PSF-GTD | ||
5.00%, due 2/15/26 | 135,000 | 146,840 |
Alvin Independent School District, Unlimited General Obligation | ||
Series A, Insured: PSF-GTD | ||
5.00%, due 2/15/24 | 90,000 | 94,359 |
Arlington Higher Education Finance Corp., Harmony Public Schools, Revenue Bonds | ||
Series B, Insured: PSF-GTD | ||
0.653%, due 2/15/24 | 500,000 | 479,898 |
Series C, Insured: PSF-GTD | ||
4.00%, due 2/15/24 | 145,000 | 149,169 |
Arlington Higher Education Finance Corp., Uplift Education Project, Revenue Bonds | ||
Series A, Insured: PSF-GTD | ||
3.00%, due 12/1/26 | 580,000 | 586,616 |
Series A, Insured: PSF-GTD | ||
3.00%, due 12/1/27 | 725,000 | 729,321 |
Series A, Insured: PSF-GTD | ||
3.00%, due 12/1/28 | 745,000 | 746,426 |
Series A, Insured: PSF-GTD | ||
3.00%, due 12/1/29 | 770,000 | 767,292 |
Series A, Insured: PSF-GTD | ||
4.00%, due 12/1/23 | 200,000 | 205,306 |
Series A, Insured: PSF-GTD | ||
4.00%, due 12/1/24 | 325,000 | 336,774 |
Series A, Insured: PSF-GTD | ||
4.00%, due 12/1/25 | 340,000 | 355,997 |
58 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
Arlington Higher Education Finance Corp., Faith Family Academy Charter Schools, Revenue Bonds | ||
Series A, Insured: PSF-GTD | ||
4.00%, due 8/15/26 | $ 175,000 | $ 184,161 |
Series A, Insured: PSF-GTD | ||
4.00%, due 8/15/27 | 135,000 | 142,700 |
Series A, Insured: PSF-GTD | ||
4.00%, due 8/15/29 | 400,000 | 424,484 |
Arlington Higher Education Finance Corp., Compass Academy Charter School, Inc., Revenue Bonds | ||
Series A, Insured: PSF-GTD | ||
4.00%, due 8/1/27 | 435,000 | 459,495 |
Series A, Insured: PSF-GTD | ||
4.00%, due 8/1/28 | 255,000 | 269,710 |
Arlington Higher Education Finance Corp., Great Hearts America - Texas, Revenue Bonds | ||
Series A, Insured: PSF-GTD | ||
5.00%, due 8/15/23 | 355,000 | 367,652 |
Series A, Insured: PSF-GTD | ||
5.00%, due 8/15/24 | 185,000 | 194,786 |
Series A, Insured: PSF-GTD | ||
5.00%, due 8/15/24 | 450,000 | 473,803 |
Arlington Independent School District, Unlimited General Obligation | ||
Series A, Insured: PSF-GTD | ||
5.00%, due 2/15/23 | 100,000 | 102,463 |
Belmont Fresh Water Supply District No. 1, Unlimited General Obligation | ||
Insured: AGM | ||
3.50%, due 3/1/23 | 495,000 | 500,881 |
Brazoria County Municipal Utility District No. 19, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 9/1/22 | 385,000 | 386,764 |
Insured: BAM | ||
3.00%, due 9/1/23 | 410,000 | 413,832 |
Insured: AGM | ||
4.00%, due 9/1/23 | 265,000 | 270,677 |
Brazos Higher Education Authority, Inc., Revenue Bonds | ||
Series 1A | ||
1.305%, due 4/1/24 | 750,000 | 718,664 |
Principal Amount | Value | |
Texas (continued) | ||
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien | ||
5.00%, due 1/1/25 | $ 135,000 | $ 141,693 |
5.00%, due 1/1/26 | 245,000 | 260,836 |
Central Texas Regional Mobility Authority, Revenue Bonds, Sub. Lien | ||
Series F | ||
5.00%, due 1/1/25 | 9,000,000 | 9,321,040 |
Central Texas Turnpike System, Revenue Bonds, First Tier | ||
Series A, Insured: BHAC-CR AMBAC | ||
(zero coupon), due 8/15/26 | 2,250,000 | 1,995,099 |
Central Texas Turnpike System, Revenue Bonds | ||
Series C | ||
5.00%, due 8/15/23 | 1,600,000 | 1,656,611 |
Series C | ||
5.00%, due 8/15/24 | 2,755,000 | 2,877,636 |
Central Texas Turnpike System, Capital Appreciation, Revenue Bonds, First Tier | ||
Series A, Insured: AMBAC | ||
(zero coupon), due 8/15/29 | 1,125,000 | 877,185 |
Cibolo Canyons Special Improvement District, Valorem Tax Utility System, Limited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 8/15/22 | 365,000 | 368,596 |
Series A, Insured: AGM | ||
5.00%, due 8/15/23 | 575,000 | 591,574 |
Cinco Southwest Municipal Utility District No. 1, Unlimited General Obligation | ||
Insured: BAM | ||
2.00%, due 12/1/22 | 470,000 | 470,725 |
Series A, Insured: BAM | ||
2.00%, due 12/1/22 | 275,000 | 275,424 |
City of Austin TX, Airport System, Revenue Bonds | ||
5.00%, due 11/15/22 (b) | 200,000 | 203,133 |
Series B | ||
5.00%, due 11/15/24 (b) | 250,000 | 262,947 |
5.00%, due 11/15/26 | 500,000 | 524,207 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
City of Austin TX, Electric Utility, Revenue Bonds | ||
Series A | ||
5.00%, due 11/15/25 | $ 685,000 | $ 741,316 |
City of Bryan TX, Electric System, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 7/1/24 | 245,000 | 257,915 |
Series A, Insured: AGM | ||
5.00%, due 7/1/25 | 295,000 | 316,659 |
City of Dallas TX, Waterworks & Sewer System, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/24 | 150,000 | 159,456 |
City of Greenville TX, Limited General Obligation | ||
Insured: BAM | ||
4.00%, due 2/15/23 | 205,000 | 208,238 |
Insured: BAM | ||
4.00%, due 2/15/24 | 985,000 | 1,012,620 |
Insured: BAM | ||
4.00%, due 2/15/25 | 650,000 | 675,255 |
City of Houston TX, Hotel Occupancy Tax & Special Tax, Revenue Bonds | ||
Series B, Insured: AGM-CR AMBAC | ||
(zero coupon), due 9/1/22 | 150,000 | 149,122 |
Insured: BAM | ||
5.00%, due 9/1/22 | 485,000 | 489,974 |
5.00%, due 9/1/23 | 1,005,000 | 1,035,447 |
5.00%, due 9/1/24 | 3,180,000 | 3,344,533 |
5.00%, due 9/1/25 | 1,000,000 | 1,054,987 |
5.00%, due 9/1/25 | 1,520,000 | 1,627,847 |
5.00%, due 9/1/26 | 430,000 | 468,303 |
City of Houston TX, Airport System, Revenue Bonds, Sub. Lien | ||
Series D | ||
5.00%, due 7/1/24 | 2,000,000 | 2,101,110 |
Series C | ||
5.00%, due 7/1/25 (b) | 805,000 | 850,788 |
Series C | ||
5.00%, due 7/1/27 (b) | 175,000 | 189,010 |
City of Laredo TX, International Toll Bridge System, Revenue Bonds | ||
Series B, Insured: BAM | ||
5.00%, due 10/1/22 | 150,000 | 152,109 |
Principal Amount | Value | |
Texas (continued) | ||
City of Lewisville TX, Lewisville Castle Hills Public Improvement District No. 3 Project, Special Assessment | ||
Insured: AGM | ||
5.00%, due 9/1/24 | $ 1,045,000 | $ 1,083,053 |
City of Lockhart TX, Limited General Obligation | ||
Insured: BAM | ||
5.00%, due 8/1/25 | 500,000 | 526,209 |
City of Mission TX, Certificates of Obligation, Limited General Obligation | ||
Insured: BAM | ||
5.00%, due 2/15/24 | 775,000 | 808,242 |
Insured: BAM | ||
5.00%, due 2/15/25 | 900,000 | 955,506 |
Insured: BAM | ||
5.00%, due 2/15/26 | 770,000 | 830,888 |
City of Mission TX, Limited General Obligation | ||
Insured: BAM | ||
5.00%, due 2/15/24 | 550,000 | 573,591 |
Insured: BAM | ||
5.00%, due 2/15/25 | 570,000 | 605,154 |
Insured: BAM | ||
5.00%, due 2/15/26 | 500,000 | 539,538 |
City of Mount Pleasant TX, Limited General Obligation | ||
Insured: AGM | ||
4.00%, due 5/15/22 | 205,000 | 205,189 |
City of Mount Pleasant TX, Texas Combination Tax and Certificates of Obligation, Limited General Obligation | ||
Insured: AGM | ||
5.00%, due 5/15/25 | 435,000 | 465,777 |
Insured: AGM | ||
5.00%, due 5/15/26 | 520,000 | 567,422 |
Insured: AGM | ||
5.00%, due 5/15/27 | 520,000 | 576,470 |
Insured: AGM | ||
5.00%, due 5/15/28 | 550,000 | 617,738 |
City of Port Arthur TX, Limited General Obligation | ||
Insured: BAM | ||
5.00%, due 2/15/23 | 225,000 | 230,346 |
60 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
City of Port Arthur TX, Certificates of Obligation, Limited General Obligation | ||
Insured: BAM | ||
5.00%, due 2/15/23 | $ 565,000 | $ 578,426 |
City of Rio Grande City TX, Certificates of Obligation, Limited General Obligation | ||
Insured: AGM | ||
4.00%, due 2/15/23 | 505,000 | 512,422 |
Insured: AGM | ||
4.00%, due 2/15/24 | 545,000 | 559,127 |
Insured: AGM | ||
4.00%, due 2/15/25 | 610,000 | 632,368 |
City of San Antonio TX, Electric & Gas Systems, Revenue Bonds | ||
5.00%, due 2/1/24 | 2,500,000 | 2,614,963 |
5.00%, due 2/1/25 | 4,250,000 | 4,514,493 |
City of Sugar Land TX, Waterworks & Sewer System, Revenue Bonds | ||
5.00%, due 8/15/25 | 1,960,000 | 2,108,901 |
Clear Lake City Water Authority, Unlimited General Obligation | ||
4.00%, due 3/1/23 | 150,000 | 152,444 |
Clifton Higher Education Finance Corp., International Leadership of Texas, Revenue Bonds | ||
Insured: PSF-GTD | ||
5.00%, due 8/15/28 | 515,000 | 574,118 |
Insured: PSF-GTD | ||
5.00%, due 8/15/29 | 275,000 | 310,049 |
Clifton Higher Education Finance Corp. TX, IDEA Public Schools, Revenue Bonds | ||
Series A | ||
5.00%, due 8/15/23 | 330,000 | 339,935 |
Series A | ||
5.00%, due 8/15/24 | 340,000 | 355,825 |
Collin County Water Control & Improvement District No. 3, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 9/15/22 | 245,000 | 248,087 |
Insured: AGM | ||
5.00%, due 9/15/23 | 240,000 | 248,884 |
Insured: AGM | ||
5.00%, due 9/15/24 | 250,000 | 263,776 |
Principal Amount | Value | |
Texas (continued) | ||
Comal County Water Control & Improvement District No. 6, Unlimited General Obligation | ||
Insured: BAM | ||
4.50%, due 3/1/23 | $ 250,000 | $ 254,928 |
Insured: BAM | ||
4.50%, due 3/1/24 | 260,000 | 268,870 |
Insured: BAM | ||
4.50%, due 3/1/25 | 135,000 | 141,392 |
Insured: BAM | ||
4.50%, due 3/1/26 | 280,000 | 296,695 |
Insured: BAM | ||
4.50%, due 3/1/27 | 295,000 | 315,609 |
Insured: BAM | ||
4.50%, due 3/1/28 | 305,000 | 328,208 |
Comal Independent School District, Unlimited General Obligation | ||
Insured: PSF-GTD | ||
5.00%, due 2/1/25 | 1,650,000 | 1,760,468 |
Corpus Christi Independent School District, Unlimited General Obligation | ||
Insured: PSF-GTD | ||
(zero coupon), due 8/15/24 | 2,415,000 | 2,282,984 |
County of Harris TX, Limited General Obligation | ||
Series A | ||
5.00%, due 10/1/22 | 100,000 | 101,456 |
Dallas Area Rapid Transit, Revenue Bonds | ||
5.00%, due 12/1/25 | 220,000 | 238,602 |
Dallas Fort Worth International Airport, Revenue Bonds | ||
Series A | ||
5.00%, due 11/1/23 | 1,110,000 | 1,152,752 |
Series F | ||
5.00%, due 11/1/24 | 200,000 | 206,956 |
Series E | ||
5.00%, due 11/1/25 | 450,000 | 456,516 |
Decatur Hospital Authority, Wise Health System, Revenue Bonds | ||
Series B | ||
5.00%, due 9/1/22 | 200,000 | 202,137 |
Series B | ||
5.00%, due 9/1/25 | 650,000 | 692,279 |
Series B | ||
5.00%, due 9/1/26 | 750,000 | 808,552 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
Decatur Hospital Authority, Wise Health System, Revenue Bonds (continued) | ||
Series B | ||
5.00%, due 9/1/27 | $ 840,000 | $ 914,220 |
Series B | ||
5.00%, due 9/1/28 | 845,000 | 924,654 |
Series B | ||
5.00%, due 9/1/29 | 1,070,000 | 1,178,854 |
Denton County Municipal Utility District No. 6, Unlimited General Obligation | ||
Insured: AGM | ||
4.50%, due 9/1/23 | 370,000 | 379,692 |
Insured: AGM | ||
4.50%, due 9/1/23 | 260,000 | 266,811 |
Insured: AGM | ||
4.50%, due 9/1/24 | 385,000 | 400,429 |
Insured: AGM | ||
4.50%, due 9/1/24 | 270,000 | 280,820 |
Insured: AGM | ||
4.50%, due 9/1/25 | 400,000 | 421,803 |
Insured: AGM | ||
4.50%, due 9/1/25 | 280,000 | 295,262 |
DeSoto Independent School District, Unlimited General Obligation | ||
Insured: PSF-GTD | ||
(zero coupon), due 8/15/26 | 680,000 | 601,184 |
Ector County Hospital District, Limited General Obligation | ||
5.00%, due 9/15/22 | 400,000 | 403,929 |
5.00%, due 9/15/23 | 430,000 | 441,167 |
5.00%, due 9/15/24 | 450,000 | 467,330 |
5.00%, due 9/15/25 | 500,000 | 525,802 |
Fort Bend County Levee Improvement District No. 15, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 9/1/22 | 465,000 | 468,951 |
Fort Bend County Municipal Utility District No. 134C, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 9/1/23 | 420,000 | 423,871 |
Insured: BAM | ||
3.00%, due 9/1/24 | 515,000 | 520,889 |
Principal Amount | Value | |
Texas (continued) | ||
Fort Bend County Municipal Utility District No. 134C, Unlimited General Obligation (continued) | ||
Insured: BAM | ||
3.00%, due 9/1/25 | $ 515,000 | $ 521,468 |
Insured: BAM | ||
3.00%, due 9/1/26 | 515,000 | 522,329 |
Fort Bend County Municipal Utility District No. 169, Unlimited General Obligation | ||
Insured: AGM | ||
2.00%, due 12/1/26 | 665,000 | 624,632 |
Fort Bend County Municipal Utility District No. 194, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 9/1/22 | 290,000 | 292,320 |
Series A, Insured: AGM | ||
4.00%, due 9/1/24 | 290,000 | 299,302 |
Series A, Insured: AGM | ||
4.00%, due 9/1/25 | 290,000 | 301,886 |
Fort Bend County Municipal Utility District No. 206, Unlimited General Obligation | ||
Insured: BAM | ||
4.50%, due 9/1/24 | 300,000 | 312,160 |
Insured: BAM | ||
4.50%, due 9/1/25 | 300,000 | 316,254 |
Insured: BAM | ||
4.50%, due 9/1/26 | 300,000 | 319,641 |
Fort Bend County Municipal Utility District No. 48, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 10/1/23 | 310,000 | 313,399 |
Insured: BAM | ||
3.00%, due 10/1/24 | 310,000 | 313,554 |
Insured: BAM | ||
3.00%, due 10/1/25 | 310,000 | 313,953 |
Fort Bend County Municipal Utility District No. 57, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 4/1/23 | 225,000 | 226,696 |
Insured: AGM | ||
3.00%, due 4/1/24 | 145,000 | 146,366 |
Insured: AGM | ||
3.00%, due 4/1/25 | 250,000 | 252,902 |
62 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
Fort Bend-Waller Counties Municipal Utility District No. 3, Unlimited General Obligation | ||
Insured: BAM | ||
4.50%, due 4/1/23 | $ 175,000 | $ 178,483 |
Insured: BAM | ||
4.50%, due 4/1/24 | 175,000 | 181,185 |
Insured: BAM | ||
4.50%, due 4/1/25 | 175,000 | 183,844 |
Galveston County Municipal Utility District No. 56, Unlimited General Obligation | ||
Insured: BAM | ||
4.25%, due 12/1/22 | 400,000 | 405,488 |
Insured: AGM | ||
4.50%, due 12/1/23 | 425,000 | 438,278 |
Insured: AGM | ||
4.50%, due 12/1/24 | 675,000 | 704,898 |
Gulfgate Redevelopment Authority, Tax Allocation | ||
Insured: AGM | ||
4.00%, due 9/1/23 | 325,000 | 329,912 |
Insured: AGM | ||
4.00%, due 9/1/25 | 440,000 | 452,796 |
Harris County Municipal Utility District No. 105, Unlimited General Obligation | ||
Insured: AGM | ||
4.50%, due 3/1/26 | 250,000 | 263,976 |
Harris County Municipal Utility District No. 196, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 9/1/22 | 290,000 | 292,330 |
Harris County Municipal Utility District No. 370, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 12/1/22 | 355,000 | 357,640 |
Insured: AGM | ||
3.00%, due 12/1/24 | 250,000 | 253,045 |
Harris County Municipal Utility District No. 423, Unlimited General Obligation | ||
Insured: AGM | ||
4.50%, due 4/1/25 | 400,000 | 418,955 |
Principal Amount | Value | |
Texas (continued) | ||
Harris County Municipal Utility District No. 480, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 4/1/23 | $ 175,000 | $ 178,112 |
Insured: AGM | ||
4.00%, due 4/1/24 | 175,000 | 179,564 |
Harris County Municipal Utility District No. 489, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 9/1/24 | 1,100,000 | 1,114,575 |
Series A, Insured: BAM | ||
3.00%, due 9/1/25 | 275,000 | 278,454 |
Harris County Municipal Utility District No. 489, Green Bond, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 9/1/24 | 615,000 | 636,985 |
Insured: BAM | ||
4.00%, due 9/1/25 | 615,000 | 642,202 |
Harris County Municipal Utility District No. 50, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 3/1/24 | 125,000 | 128,178 |
Insured: BAM | ||
4.00%, due 3/1/25 | 150,000 | 155,159 |
Insured: BAM | ||
4.00%, due 3/1/26 | 150,000 | 156,353 |
Insured: BAM | ||
4.00%, due 3/1/27 | 175,000 | 183,798 |
Harris County Municipal Utility District No. 504, Unlimited General Obligation | ||
Insured: AGM | ||
4.50%, due 9/1/23 | 305,000 | 313,960 |
Insured: AGM | ||
4.50%, due 9/1/24 | 370,000 | 386,533 |
Insured: AGM | ||
4.50%, due 9/1/25 | 390,000 | 413,299 |
Insured: AGM | ||
4.50%, due 9/1/26 | 405,000 | 434,759 |
Harris County-Houston Sports Authority, Revenue Bonds, Senior Lien | ||
Series A, Insured: AGM | ||
5.00%, due 11/15/24 | 150,000 | 158,559 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
Harris County-Houston Sports Authority, Revenue Bonds, Senior Lien (continued) | ||
Series A, Insured: AGM | ||
5.00%, due 11/15/25 | $ 245,000 | $ 258,634 |
Series A | ||
5.00%, due 11/15/28 | 1,440,000 | 1,509,905 |
Harris-Fort Bend Counties Municipal Utility District No. 3, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 4/1/25 | 560,000 | 577,969 |
Insured: AGM | ||
4.00%, due 4/1/26 | 585,000 | 607,577 |
Insured: AGM | ||
4.00%, due 4/1/27 | 615,000 | 640,275 |
Hidalgo County Drain District No. 1, Unlimited General Obligation | ||
5.00%, due 9/1/23 | 100,000 | 103,722 |
Houston Higher Education Finance Corp., Houston Baptist University, Revenue Bonds | ||
1.50%, due 10/1/22 | 100,000 | 99,336 |
1.75%, due 10/1/24 | 115,000 | 109,294 |
2.00%, due 10/1/25 | 150,000 | 140,765 |
Hunt Memorial Hospital District Charitable Health, Limited General Obligation | ||
5.00%, due 2/15/23 | 325,000 | 331,570 |
5.00%, due 2/15/24 | 275,000 | 284,455 |
5.00%, due 2/15/25 | 450,000 | 472,193 |
5.00%, due 2/15/26 | 800,000 | 851,116 |
Imperial Redevelopment District, Unlimited General Obligation | ||
Insured: AGM | ||
2.00%, due 5/1/26 | 130,000 | 123,970 |
Insured: AGM | ||
4.50%, due 5/1/22 | 110,000 | 110,000 |
Insured: AGM | ||
4.50%, due 5/1/23 | 120,000 | 122,669 |
Insured: AGM | ||
4.50%, due 5/1/24 | 85,000 | 88,227 |
Series A, Insured: AGM | ||
4.50%, due 5/1/24 | 425,000 | 441,133 |
Insured: AGM | ||
4.50%, due 5/1/25 | 125,000 | 131,361 |
Principal Amount | Value | |
Texas (continued) | ||
Lazy Nine Municipal Utility District No. 1B, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 3/1/24 | $ 155,000 | $ 156,746 |
Series 1B, Insured: AGM | ||
3.00%, due 9/1/24 | 360,000 | 363,303 |
Insured: BAM | ||
3.00%, due 3/1/25 | 170,000 | 171,529 |
Leander Independent School District, Unlimited General Obligation | ||
Series D, Insured: PSF-GTD | ||
(zero coupon), due 8/15/24 | 155,000 | 145,671 |
Series D, Insured: PSF-GTD | ||
(zero coupon), due 8/15/40 | 2,125,000 | 929,033 |
Series C, Insured: PSF-GTD | ||
(zero coupon), due 8/15/43 | 450,000 | 154,984 |
Series C, Insured: PSF-GTD | ||
(zero coupon), due 8/15/45 | 400,000 | 122,149 |
Series C, Insured: PSF-GTD | ||
5.00%, due 8/15/23 | 340,000 | 352,645 |
Lubbock-Cooper Independent School District, Unlimited General Obligation | ||
Insured: PSF-GTD | ||
5.00%, due 2/15/25 | 105,000 | 111,883 |
Mabank Independent School District, Unlimited General Obligation | ||
Insured: PSF-GTD | ||
(zero coupon), due 8/15/26 | 950,000 | 820,810 |
Martin County Hospital District, Limited General Obligation | ||
4.00%, due 4/1/23 | 140,000 | 142,159 |
4.00%, due 4/1/24 | 100,000 | 102,270 |
4.00%, due 4/1/25 | 150,000 | 154,347 |
4.00%, due 4/1/26 | 300,000 | 310,007 |
Matagorda County Navigation District No. 1, Revenue Bonds | ||
Insured: AMBAC | ||
5.125%, due 11/1/28 | 6,530,000 | 7,244,417 |
Metropolitan Transit Authority of Harris County Sales & Use Tax, Revenue Bonds | ||
Series A | ||
5.00%, due 11/1/25 | 255,000 | 276,384 |
64 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
Montgomery County Municipal Utility District No. 105, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 9/1/22 | $ 380,000 | $ 382,977 |
Montgomery County Municipal Utility District No. 132, Unlimited General Obligation | ||
Insured: BAM | ||
4.50%, due 9/1/22 | 170,000 | 171,614 |
Montgomery County Municipal Utility District No. 139, Unlimited General Obligation | ||
Insured: BAM | ||
4.50%, due 4/1/23 | 110,000 | 112,400 |
Insured: BAM | ||
4.50%, due 4/1/25 | 260,000 | 271,653 |
Insured: BAM | ||
4.50%, due 4/1/26 | 270,000 | 284,861 |
North Forest Municipal Utility District, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 4/1/23 | 30,000 | 30,234 |
North Fort Bend Water Authority, Revenue Bonds | ||
Series B | ||
5.00%, due 12/15/24 | 1,485,000 | 1,578,757 |
Series B | ||
5.00%, due 12/15/25 | 1,350,000 | 1,461,836 |
North Texas Municipal Water District, Sabine Creek Regional Wastewater Systems Project, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 6/1/24 | 350,000 | 360,043 |
Northwest Harris County Municipal Utility District No. 10, Green Bond, Unlimited General Obligation | ||
Insured: BAM | ||
5.00%, due 4/1/23 | 520,000 | 533,107 |
Insured: BAM | ||
5.00%, due 4/1/24 | 635,000 | 662,719 |
Northwest Harris County Municipal Utility District No. 19, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 10/1/22 | 120,000 | 120,664 |
Principal Amount | Value | |
Texas (continued) | ||
Northwest Harris County Municipal Utility District No. 19, Unlimited General Obligation (continued) | ||
Insured: AGM | ||
3.00%, due 10/1/24 | $ 240,000 | $ 242,920 |
Insured: AGM | ||
3.00%, due 10/1/26 | 200,000 | 203,112 |
Insured: AGM | ||
3.00%, due 10/1/28 | 155,000 | 156,155 |
Northwest Independent School District, Capital Appreciation, Unlimited General Obligation | ||
Insured: PSF-GTD | ||
(zero coupon), due 2/15/25 | 295,000 | 275,486 |
Northwest Independent School District, Unlimited General Obligation | ||
Insured: PSF-GTD | ||
5.00%, due 2/15/25 | 115,000 | 122,891 |
Pecan Grove Municipal Utility District, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 9/1/22 | 100,000 | 100,803 |
Port Arthur Independent School District, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 2/15/24 | 675,000 | 704,796 |
Remington Municipal Utility District No. 1, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 9/1/22 | 330,000 | 331,577 |
Sienna Municipal Utility District No. 4, Unlimited General Obligation | ||
Insured: AGM | ||
2.00%, due 9/1/22 | 435,000 | 435,579 |
Insured: AGM | ||
3.00%, due 9/1/24 | 460,000 | 462,665 |
Insured: AGM | ||
3.00%, due 9/1/25 | 125,000 | 125,775 |
Sonterra Municipal Utility District, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 8/15/23 | 320,000 | 327,174 |
Insured: AGM | ||
4.00%, due 8/15/24 | 330,000 | 341,153 |
Insured: AGM | ||
4.00%, due 8/15/25 | 340,000 | 355,083 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
Sonterra Municipal Utility District, Unlimited General Obligation (continued) | ||
Insured: AGM | ||
4.00%, due 8/15/26 | $ 350,000 | $ 368,612 |
Southeast Williamson County Municipal Utility District No. 1, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 9/1/22 | 150,000 | 151,150 |
Insured: BAM | ||
4.00%, due 9/1/23 | 330,000 | 337,026 |
Insured: BAM | ||
4.00%, due 9/1/24 | 345,000 | 352,297 |
Insured: BAM | ||
4.00%, due 9/1/25 | 355,000 | 364,757 |
Southwest Houston Redevelopment Authority, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 9/1/22 | 200,000 | 202,191 |
Insured: AGM | ||
5.00%, due 9/1/24 | 300,000 | 313,930 |
Insured: AGM | ||
5.00%, due 9/1/25 | 300,000 | 318,632 |
Tarrant County Cultural Education Facilities Finance Corp., Hendrick Medical Center Project, Revenue Bonds | ||
Insured: AGM | ||
1.071%, due 9/1/23 | 650,000 | 636,623 |
Insured: AGM | ||
1.356%, due 9/1/24 | 825,000 | 792,582 |
Insured: AGM | ||
1.386%, due 9/1/25 | 600,000 | 563,601 |
Tarrant County Cultural Education Facilities Finance Corp., Methodist Hospitals of Dallas, Revenue Bonds | ||
5.00%, due 10/1/27 | 1,100,000 | 1,142,140 |
Tarrant County Cultural Education Facilities Finance Corp., Buckner Retirement Services, Inc. Project, Revenue Bonds | ||
5.00%, due 11/15/29 | 875,000 | 959,406 |
Texas Municipal Gas Acquisition & Supply Corp. III, Revenue Bonds | ||
5.00%, due 12/15/22 | 750,000 | 761,370 |
Principal Amount | Value | |
Texas (continued) | ||
Texas Municipal Power Agency, Transmission System, Revenue Bonds | ||
Insured: AGM | ||
3.00%, due 9/1/23 | $ 830,000 | $ 837,432 |
Insured: AGM | ||
3.00%, due 9/1/24 | 1,030,000 | 1,040,613 |
Insured: AGM | ||
3.00%, due 9/1/26 | 1,240,000 | 1,253,084 |
Texas Public Finance Authority, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 5/1/28 | 500,000 | 533,940 |
Timber Lane Utility District, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 8/1/23 | 615,000 | 629,081 |
Series A, Insured: AGM | ||
4.00%, due 8/1/24 | 615,000 | 634,800 |
Travis County Water Control & Improvement District, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 8/15/22 | 425,000 | 428,235 |
Insured: BAM | ||
4.00%, due 8/15/23 | 145,000 | 148,566 |
Insured: BAM | ||
4.00%, due 8/15/24 | 460,000 | 474,305 |
Insured: BAM | ||
4.00%, due 8/15/25 | 480,000 | 499,295 |
Trinity River Authority, Ten Mile Creek System, Revenue Bonds | ||
5.00%, due 8/1/26 | 1,390,000 | 1,510,087 |
Tyler Independent School District, Unlimited General Obligation | ||
Insured: PSF-GTD | ||
5.00%, due 2/15/24 | 100,000 | 104,736 |
Viridian Municipal Management District, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 12/1/22 | 550,000 | 556,855 |
Insured: AGM | ||
4.00%, due 12/1/22 | 395,000 | 399,923 |
Insured: AGM | ||
4.00%, due 12/1/23 | 300,000 | 307,442 |
Insured: AGM | ||
4.00%, due 12/1/23 | 305,000 | 312,566 |
66 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
Viridian Municipal Management District, Unlimited Tax Road Improvement, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/22 | $ 175,000 | $ 177,181 |
Insured: BAM | ||
4.00%, due 12/1/24 | 370,000 | 384,531 |
Williamson County Municipal Utility District No. 19, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
5.00%, due 8/15/23 | 245,000 | 253,321 |
Series A, Insured: BAM | ||
5.00%, due 8/15/24 | 250,000 | 262,542 |
Series A, Insured: BAM | ||
5.00%, due 8/15/25 | 260,000 | 277,889 |
147,281,002 | ||
U.S. Virgin Islands 1.3% | ||
Matching Fund Special Purpose Securitization Corp., Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/25 | 3,850,000 | 3,965,000 |
Series A | ||
5.00%, due 10/1/26 | 15,430,000 | 15,981,470 |
Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan, Revenue Bonds | ||
Insured: NATL-RE | ||
5.00%, due 10/1/22 | 665,000 | 674,147 |
Insured: NATL-RE | ||
5.00%, due 10/1/24 | 395,000 | 400,617 |
21,021,234 | ||
Utah 1.1% | ||
City of Salt Lake City UT, Airport, Revenue Bonds (b) | ||
Series A | ||
5.00%, due 7/1/24 | 95,000 | 99,089 |
Series A | ||
5.00%, due 7/1/25 | 1,300,000 | 1,373,943 |
Series A | ||
5.00%, due 7/1/27 | 2,500,000 | 2,700,140 |
Series A | ||
5.00%, due 7/1/28 | 1,800,000 | 1,951,947 |
Principal Amount | Value | |
Utah (continued) | ||
City of Salt Lake City UT, Airport, Revenue Bonds (b) (continued) | ||
Series A | ||
5.00%, due 7/1/29 | $ 3,500,000 | $ 3,846,434 |
Utah Charter School Finance Authority, North Star Academy Project, Revenue Bonds | ||
Insured: UT CSCE | ||
(zero coupon), due 4/15/25 | 615,000 | 547,659 |
Utah Charter School Finance Authority, Spectrum Academy Project, Revenue Bonds | ||
Insured: UT CSCE | ||
4.00%, due 4/15/23 | 175,000 | 177,965 |
Insured: UT CSCE | ||
4.00%, due 4/15/24 | 280,000 | 286,310 |
Insured: UT CSCE | ||
4.00%, due 4/15/26 | 400,000 | 415,862 |
Utah Charter School Finance Authority, Revenue Bonds | ||
Series A, Insured: UT CSCE | ||
4.00%, due 10/15/24 | 255,000 | 262,809 |
Series A, Insured: UT CSCE | ||
4.00%, due 10/15/25 | 265,000 | 275,314 |
Utah Charter School Finance Authority, Summit Academy, Inc. Project, Revenue Bonds | ||
Insured: UT CSCE | ||
5.00%, due 4/15/24 | 340,000 | 353,412 |
Utah Infrastructure Agency, Syracuse City Project, Revenue Bonds | ||
2.00%, due 10/15/24 | 235,000 | 230,137 |
2.00%, due 10/15/25 | 365,000 | 352,932 |
2.00%, due 10/15/26 | 505,000 | 481,998 |
3.00%, due 10/15/27 | 145,000 | 146,140 |
Utah Infrastructure Agency, Revenue Bonds | ||
3.00%, due 10/15/25 | 565,000 | 550,005 |
4.00%, due 10/15/23 | 755,000 | 759,873 |
4.00%, due 10/15/27 | 550,000 | 550,712 |
4.00%, due 10/15/28 | 350,000 | 347,227 |
5.00%, due 10/15/25 | 1,000,000 | 1,037,518 |
Utah Transit Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 6/15/22 | 650,000 | 652,880 |
17,400,306 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Vermont 0.3% | ||
Vermont Student Assistance Corp., Revenue Bonds, Senior Lien (b) | ||
Series A | ||
5.00%, due 6/15/23 | $ 1,150,000 | $ 1,180,857 |
Series A | ||
5.00%, due 6/15/24 | 850,000 | 885,916 |
Series A | ||
5.00%, due 6/15/25 | 875,000 | 925,491 |
Vermont Student Assistance Corp., Revenue Bonds (b) | ||
Series A | ||
5.00%, due 6/15/25 | 1,300,000 | 1,375,015 |
Series A | ||
5.00%, due 6/15/26 | 175,000 | 187,278 |
4,554,557 | ||
Virginia 0.5% | ||
Capital Region Airport Commission, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 7/1/27 | 1,005,000 | 1,050,273 |
Lynchburg Economic Development Authority, Centra Health Obligated Group, Revenue Bonds | ||
4.00%, due 1/1/27 | 425,000 | 444,336 |
Norfolk Airport Authority, Revenue Bonds | ||
5.00%, due 7/1/24 | 395,000 | 413,440 |
5.00%, due 7/1/25 | 160,000 | 170,443 |
Rockingham County Economic Development Authority, Sunnyside Presbyterian Home, Revenue Bonds | ||
4.00%, due 12/1/22 | 300,000 | 302,526 |
Spotsylvania County Economic Development Authority, Revenue Bonds | ||
5.00%, due 6/1/25 | 3,130,000 | 3,364,943 |
Virginia Commonwealth Transportation Board, U.S. Roure 58 Corridor Program, Revenue Bonds | ||
Series C | ||
5.00%, due 5/15/22 | 145,000 | 145,188 |
Principal Amount | Value | |
Virginia (continued) | ||
Virginia Small Business Financing Authority, LifeSpire of Virginia, Revenue Bonds | ||
3.00%, due 12/1/22 | $ 240,000 | $ 239,601 |
3.00%, due 12/1/23 | 300,000 | 298,212 |
3.00%, due 12/1/24 | 220,000 | 217,094 |
3.00%, due 12/1/25 | 230,000 | 224,345 |
3.00%, due 12/1/26 | 235,000 | 226,398 |
Virginia Small Business Financing Authority, National Senior Campuses, Inc. Obligated Group, Revenue Bonds | ||
5.00%, due 1/1/23 | 500,000 | 508,199 |
5.00%, due 1/1/24 | 550,000 | 568,817 |
8,173,815 | ||
Washington 0.9% | ||
Benton County School District No. 17 Kennewick, Unlimited General Obligation | ||
Insured: School Bond Guaranty | ||
5.00%, due 12/1/23 | 190,000 | 198,239 |
Kittitas County School District No. 401 Ellensburg, Unlimited General Obligation | ||
Insured: School Bond Guaranty | ||
5.00%, due 12/1/22 | 1,800,000 | 1,834,828 |
Northwest Open Access Network, Revenue Bonds | ||
0.691%, due 12/1/22 | 1,200,000 | 1,192,197 |
0.791%, due 12/1/23 | 1,260,000 | 1,220,536 |
Pend Oreille County Public Utility District No. 1 Box Canyon, Green Bond, Revenue Bonds | ||
5.00%, due 1/1/23 | 100,000 | 101,759 |
Spokane Public Facilities District, Revenue Bonds | ||
Series B | ||
5.00%, due 12/1/23 | 1,175,000 | 1,212,101 |
State of Washington, Senior 520 Corridor Program, Revenue Bonds | ||
5.00%, due 9/1/24 | 1,000,000 | 1,010,289 |
Washington Higher Education Facilities Authority, Whitman College Project, Revenue Bonds | ||
Series B | ||
2.337%, due 1/1/29 | 7,090,000 | 6,654,197 |
68 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Washington (continued) | ||
Washington Higher Education Facilities Authority, Whitworth University Project, Revenue Bonds | ||
4.00%, due 10/1/22 | $ 150,000 | $ 151,336 |
4.00%, due 10/1/23 | 435,000 | 444,071 |
4.00%, due 10/1/25 | 470,000 | 485,794 |
Washington Higher Education Facilities Authority, Seattle University Project, Revenue Bonds | ||
5.00%, due 5/1/24 | 250,000 | 260,369 |
5.00%, due 5/1/25 | 255,000 | 269,960 |
Washington State Convention Center Public Facilities District, Revenue Bonds | ||
5.00%, due 7/1/22 | 175,000 | 175,914 |
15,211,590 | ||
West Virginia 0.1% | ||
City of Fairmont WV, Waterworks, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 7/1/23 | 300,000 | 302,016 |
Series A, Insured: BAM | ||
3.00%, due 7/1/24 | 500,000 | 501,569 |
City of Wheeling WV, Waterworks & Sewerage System, Revenue Bonds | ||
Series A, Insured: BAM | ||
4.00%, due 6/1/28 | 300,000 | 319,616 |
Morgantown Utility Board, Inc., Green Bond, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 12/1/22 | 225,000 | 226,647 |
West Virginia Commissioner of Highways, Surface Transportation Improvements, Revenue Bonds | ||
Series A | ||
5.00%, due 9/1/22 | 595,000 | 602,191 |
West Virginia Hospital Finance Authority, Cabell Huntington Hospital Obligated Group, Revenue Bonds | ||
5.00%, due 1/1/25 | 425,000 | 447,853 |
2,399,892 |
Principal Amount | Value | |
Wisconsin 0.6% | ||
City of Kaukauna WI, Electric System, Revenue Bonds | ||
Insured: AGM | ||
3.00%, due 12/15/23 | $ 30,000 | $ 30,298 |
Insured: AGM | ||
3.00%, due 12/15/24 | 455,000 | 458,171 |
City of Milwaukee WI, Unlimited General Obligation | ||
Series N2 | ||
4.00%, due 3/1/24 | 125,000 | 128,133 |
City of Racine WI, Waterworks System, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 9/1/27 | 300,000 | 334,600 |
Omro School District, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 3/1/23 | 100,000 | 100,904 |
Insured: BAM | ||
3.00%, due 3/1/24 | 100,000 | 101,216 |
Public Finance Authority, United Methodist Retirement Homes, Inc., Revenue Bonds | ||
Series A | ||
4.00%, due 10/1/25 | 290,000 | 301,331 |
Series A | ||
4.00%, due 10/1/26 | 305,000 | 318,021 |
Series A | ||
4.00%, due 10/1/27 | 195,000 | 202,887 |
Public Finance Authority, Northwest Nazarene University, Revenue Bonds | ||
5.00%, due 10/1/25 | 500,000 | 524,947 |
Town of Manitowish Waters WI, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 3/1/23 | 295,000 | 296,405 |
Insured: AGM | ||
3.00%, due 3/1/24 | 300,000 | 300,547 |
Insured: AGM | ||
3.00%, due 3/1/25 | 310,000 | 309,768 |
Village of Fox Crossing WI, Waterworks System & Sewerage System, Revenue Bonds | ||
Insured: BAM | ||
3.00%, due 5/1/24 | 295,000 | 297,244 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Wisconsin (continued) | ||
Village of Mount Pleasant, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 3/1/27 | $ 6,000,000 | $ 6,027,857 |
9,732,329 | ||
Wyoming 0.1% | ||
County of Laramie WY, Cheyenne Regional Medical Center Project, Revenue Bonds | ||
4.00%, due 5/1/22 | 225,000 | 225,000 |
4.00%, due 5/1/23 | 250,000 | 254,635 |
4.00%, due 5/1/24 | 250,000 | 257,468 |
4.00%, due 5/1/25 | 250,000 | 259,955 |
997,058 | ||
Total Long-Term Municipal Bonds (Cost $1,338,110,195) | 1,290,022,790 | |
Short-Term Municipal Notes 17.0% | ||
Alabama 1.4% | ||
Black Belt Energy Gas District, Gas Project No.7, Revenue Bonds | ||
Series C-2 | ||
0.79%, due 10/1/52 (g) | 20,000,000 | 19,515,040 |
Southeast Alabama Gas Supply District (The), Project No. 1, Revenue Bonds | ||
Series C | ||
1.09%, due 4/1/49 (g) | 3,000,000 | 2,983,025 |
22,498,065 | ||
Arizona 0.6% | ||
Arizona Health Facilities Authority, Banner Health, Revenue Bonds | ||
Series B | ||
0.69%, due 1/1/46 (g) | 10,000,000 | 10,003,450 |
California 1.5% | ||
California Infrastructure and Economic Development Bank, Brightline West Passenger Rail Project, Revenue Bonds | ||
Series A | ||
0.85%, due 1/1/50 (b)(c)(g) | 17,450,000 | 17,293,496 |
Principal Amount | Value | |
California (continued) | ||
California Municipal Finance Authority, Waste Management, Inc. Project, Revenue Bonds | ||
0.70%, due 12/1/44 (b)(g) | $ 6,500,000 | $ 6,288,780 |
23,582,276 | ||
Georgia 0.5% | ||
Bartow County Development Authority, Georgia Power Company Plant Bowen Project, Revenue Bonds | ||
1.80%, due 9/1/29 (g) | 2,800,000 | 2,490,117 |
Development Authority of Burke County (The), Georgia Power Co. Vogtle Project, Revenue Bonds | ||
2.15%, due 10/1/32 (g) | 1,000,000 | 980,421 |
Development Authority of Burke County (The), Georgia Power Co. Vogtle Project, Revenue Bonds, First Series | ||
2.925%, due 11/1/53 (g) | 2,000,000 | 1,994,200 |
Development Authority of Burke County (The), Georgia Power Company Plant Vogtle Project, Revenue Bonds | ||
2.25%, due 10/1/32 (g) | 2,800,000 | 2,782,336 |
8,247,074 | ||
Illinois 0.3% | ||
Illinois Finance Authority, Presbyterian Homes Obligated Group, Revenue Bonds | ||
Series B | ||
1.14%, due 5/1/42 (g) | 1,125,000 | 1,127,668 |
Illinois Finance Authority, Edward-Elmhurst Healthcare, Revenue Bonds | ||
1.19%, due 1/1/46 (g) | 3,500,000 | 3,501,536 |
4,629,204 | ||
Indiana 0.4% | ||
Indiana Finance Authority, Fulcrum Centerpoint LLC, Revenue Bonds | ||
0.28%, due 12/15/45 (b)(g) | 2,500,000 | 2,466,611 |
Indiana Finance Authority, Deaconess Health System, Revenue Bonds | ||
Series B | ||
0.74%, due 3/1/39 (g) | 1,925,000 | 1,925,722 |
70 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Short-Term Municipal Notes (continued) | ||
Indiana (continued) | ||
Indiana Finance Authority, Indianapolis Power & Light Co., Revenue Bonds | ||
Series B | ||
0.95%, due 12/1/38 (b)(g) | $ 2,265,000 | $ 1,965,213 |
6,357,546 | ||
Louisiana 0.4% | ||
Parish of St. John the Baptist LA, Marathon Oil Corp. Project, Revenue Bonds (g) | ||
2.125%, due 6/1/37 | 925,000 | 898,917 |
Series B-2 | ||
2.375%, due 6/1/37 | 6,525,000 | 6,174,898 |
7,073,815 | ||
Michigan 0.7% | ||
City of Detroit MI, Water Sewage Disposal System, Revenue Bonds | ||
Series D, Insured: AGM | ||
1.244%, due 7/1/32 (g) | 12,500,000 | 12,101,575 |
Montana 0.4% | ||
Montana Facility Finance Authority, Billings Clinic Obligated Group, Revenue Bonds | ||
0.99%, due 8/15/37 (g) | 5,870,000 | 5,872,885 |
Nebraska 0.4% | ||
County of Douglas NE, Creighton University, Revenue Bonds | ||
Series B | ||
0.97%, due 7/1/35 (g) | 6,500,000 | 6,522,467 |
Nevada 0.7% | ||
State of Nevada Department of Business & Industry, Republic Services, Inc., Revenue Bonds | ||
0.28%, due 12/1/26 (b)(c)(g) | 12,000,000 | 11,985,283 |
New Jersey 0.4% | ||
New Jersey Turnpike Authority, Revenue Bonds (g) | ||
Series C-4 | ||
1.019%, due 1/1/24 | 3,200,000 | 3,214,610 |
Principal Amount | Value | |
New Jersey (continued) | ||
New Jersey Turnpike Authority, Revenue Bonds (g) (continued) | ||
Series D-1 | ||
1.019%, due 1/1/24 | $ 2,600,000 | $ 2,611,871 |
5,826,481 | ||
New York 1.9% | ||
Metropolitan Transportation Authority, Revenue Bonds (g) | ||
Series D-2A-1, Insured: AGM | ||
0.738%, due 11/1/32 | 11,250,000 | 11,243,765 |
Series D-2A-2, Insured: AGM | ||
0.988%, due 11/1/32 | 10,875,000 | 10,795,421 |
Metropolitan Transportation Authority, Dedicated Tax Fund, Revenue Bonds | ||
Series A-2A | ||
0.89%, due 11/1/26 (g) | 230,000 | 230,007 |
New York City Housing Development Corp., Multi-Family Housing, Revenue Bonds | ||
Series F2, Insured: FHA 542(C) | ||
0.60%, due 5/1/61 (g) | 5,000,000 | 4,612,658 |
Triborough Bridge & Tunnel Authority, MTA Bridges & Tunnels, Revenue Bonds | ||
Series 2005B-4A | ||
0.568%, due 1/1/32 (g) | 4,407,722 | 4,398,997 |
31,280,848 | ||
Ohio 1.6% | ||
Ohio Air Quality Development Authority, American Electric Power Co. Project, Revenue Bonds (g) | ||
2.10%, due 10/1/28 (b) | 10,000,000 | 9,704,414 |
2.40%, due 12/1/38 | 5,710,000 | 5,312,683 |
2.50%, due 11/1/42 (b) | 2,500,000 | 2,314,320 |
Ohio Higher Educational Facility Commission, Case Western Reserve University, Revenue Bonds | ||
Series B | ||
0.67%, due 12/1/42 (g) | 5,500,000 | 5,471,162 |
State of Ohio, University Hospitals Health System, Inc., Revenue Bonds | ||
Series C | ||
0.63%, due 1/15/51 (g) | 3,500,000 | 3,500,000 |
Principal Amount | Value | |
Short-Term Municipal Notes (continued) | ||
Ohio (continued) | ||
State of Ohio, Cleveland Clinic Health System Obligated Group, Revenue Bonds | ||
0.84%, due 1/1/52 (g) | $ 120,000 | $ 119,973 |
26,422,552 | ||
Pennsylvania 1.3% | ||
County of Allegheny PA, Unlimited General Obligation | ||
Series C-59B, Insured: AGM | ||
0.762%, due 11/1/26 (g) | 815,000 | 810,044 |
Lehigh County General Purpose Authority, Muhlenberg College Project, Revenue Bonds | ||
1.02%, due 11/1/37 (g) | 13,110,000 | 13,093,949 |
Lehigh County Industrial Development Authority, PPL Electric Utilities Corp., Revenue Bonds | ||
Series B | ||
1.80%, due 2/15/27 (g) | 330,000 | 329,460 |
Pennsylvania Economic Development Financing Authority, Waste Management, Inc., Revenue Bonds | ||
Series A | ||
0.84%, due 6/1/41 (b)(g) | 3,000,000 | 2,984,488 |
Pennsylvania Higher Educational Facilities Authority, Indiana University, Revenue Bonds | ||
Series A, Insured: AGC | ||
1.248%, due 7/1/27 (g) | 2,625,000 | 2,583,015 |
University of Pittsburgh-of the Commonwealth System of Higher Education, Revenue Bonds | ||
0.80%, due 2/15/24 (g) | 2,000,000 | 2,006,447 |
21,807,403 | ||
Rhode Island 0.4% | ||
Rhode Island Health and Educational Building Corp., Bryant University, Revenue Bonds | ||
1.50%, due 6/1/44 (g) | 5,820,000 | 5,711,101 |
South Carolina 0.1% | ||
Patriots Energy Group Financing Agency, Revenue Bonds | ||
Series B | ||
1.165%, due 10/1/48 (g) | 2,180,000 | 2,167,583 |
Principal Amount | Value | |
Texas 1.3% | ||
Harris County Cultural Education Facilities Finance Corp., Baylor College of Medicine, Revenue Bonds | ||
Series A | ||
0.969%, due 11/15/46 (g) | $ 4,000,000 | $ 3,998,026 |
Texas Municipal Gas Acquisition & Supply Corp. II, Revenue Bonds | ||
Series C | ||
1.235%, due 9/15/27 (g) | 18,000,000 | 17,668,982 |
21,667,008 | ||
Virginia 0.9% | ||
Virginia Small Business Financing Authority, Capital Beltway Express LLC, Revenue Bonds, Sub. Lien | ||
2.00%, due 12/31/23 (d)(g) | 15,000,000 | 15,003,597 |
Washington 1.8% | ||
County of King WA, Sewer, Revenue Bonds, Junior Lien | ||
Series A | ||
0.67%, due 1/1/40 (g) | 20,000,000 | 19,960,446 |
Washington Health Care Facilities Authority, Fred Hutchinson Cancer Research Center, Revenue Bonds | ||
1.49%, due 1/1/42 (g) | 9,000,000 | 9,029,490 |
28,989,936 | ||
Total Short-Term Municipal Notes (Cost $282,362,735) | 277,750,149 | |
Total Municipal Bonds (Cost $1,620,472,930) | 1,567,772,939 | |
Long-Term Bonds 0.1% | ||
Corporate Bonds 0.1% | ||
Entertainment 0.1% | ||
Smithsonian Institution | ||
0.895%, due 9/1/22 | 825,000 | 820,301 |
0.974%, due 9/1/23 | 800,000 | 778,048 |
1,598,349 |
72 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Corporate Bonds (continued) | ||
Healthcare-Services 0.0% ‡ | ||
Baptist Health Obligated Group | ||
2.579%, due 12/1/22 | $ 350,000 | $ 348,455 |
348,455 | ||
Total Corporate Bonds (Cost $1,975,000) | 1,946,804 | |
Total Long-Term Bonds (Cost $1,975,000) | 1,946,804 | |
Total Investments (Cost $1,622,447,930) | 95.9% | 1,569,719,743 |
Other Assets, Less Liabilities | 4.1 | 67,669,312 |
Net Assets | 100.0% | $ 1,637,389,055 |
† | Percentages indicated are based on Fund net assets. |
‡ | Less than one-tenth of a percent. |
(a) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of April 30, 2022. |
(b) | Interest on these securities was subject to alternative minimum tax. |
(c) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
(d) | Step coupon—Rate shown was the rate in effect as of April 30, 2022. |
(e) | Floating rate—Rate shown was the rate in effect as of April 30, 2022. |
(f) | Delayed delivery security. |
(g) | Variable-rate demand notes (VRDNs)—Provide the right to sell the security at face value on either that day or within the rate-reset period. VRDNs will normally trade as if the maturity is the earlier put date, even though stated maturity is longer. The interest rate is reset on the put date at a stipulated daily, weekly, monthly, quarterly, or other specified time interval to reflect current market conditions. These securities do not indicate a reference rate and spread in their description. The maturity date shown is the final maturity. |
Abbreviation(s): |
AGC—Assured Guaranty Corp. |
AGM—Assured Guaranty Municipal Corp. |
AMBAC—Ambac Assurance Corp. |
BAM—Build America Mutual Assurance Co. |
BHAC—Berkshire Hathaway Assurance Corp. |
CR—Custodial Receipts |
FHA—Federal Housing Administration |
ICC—Insured Custody Certificates |
MUN GOVT GTD—Municipal Government Guaranteed |
NATL-RE—National Public Finance Guarantee Corp. |
PSF-GTD—Permanent School Fund Guaranteed |
Q-SBLF—Qualified School Board Loan Fund |
SD CRED PROG—School District Credit Enhancement Program |
UT CSCE—Utah Charter School Credit Enhancement Program |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Municipal Bonds | ||||
Long-Term Municipal Bonds | $ — | $ 1,290,022,790 | $ — | $ 1,290,022,790 |
Short-Term Municipal Notes | — | 277,750,149 | — | 277,750,149 |
Total Municipal Bonds | — | 1,567,772,939 | — | 1,567,772,939 |
Long-Term Bonds | ||||
Corporate Bonds | — | 1,946,804 | — | 1,946,804 |
Total Corporate Bonds | — | 1,946,804 | — | 1,946,804 |
Total Investments in Securities | $ — | $ 1,569,719,743 | $ — | $ 1,569,719,743 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
Assets | |
Investment in securities, at value (identified cost $1,622,447,930) | $1,569,719,743 |
Cash | 48,806,712 |
Receivables: | |
Investment securities sold | 21,809,165 |
Interest | 16,877,779 |
Fund shares sold | 12,133,747 |
Other assets | 18,862 |
Total assets | 1,669,366,008 |
Liabilities | |
Due to custodian | 1,127,511 |
Payables: | |
Investment securities purchased | 21,731,772 |
Fund shares redeemed | 7,812,704 |
Manager (See Note 3) | 443,875 |
Custodian | 151,406 |
NYLIFE Distributors (See Note 3) | 109,330 |
Transfer agent (See Note 3) | 78,943 |
Shareholder communication | 30,021 |
Professional fees | 16,676 |
Trustees | 885 |
Accrued expenses | 1,664 |
Distributions payable | 472,166 |
Total liabilities | 31,976,953 |
Net assets | $1,637,389,055 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $175,879 |
Additional paid-in-capital | 1,705,347,218 |
1,705,523,097 | |
Total distributable earnings (loss) | (68,134,042) |
Net assets | $1,637,389,055 |
Class A | |
Net assets applicable to outstanding shares | $409,721,542 |
Shares of beneficial interest outstanding | 44,011,497 |
Net asset value per share outstanding | $9.31 |
Maximum sales charge (1.00% of offering price) | 0.09 |
Maximum offering price per share outstanding | $9.40 |
Class A2 | |
Net assets applicable to outstanding shares | $98,890,323 |
Shares of beneficial interest outstanding | 10,610,590 |
Net asset value and offering price per share outstanding | $9.32 |
Investor Class | |
Net assets applicable to outstanding shares | $2,884,147 |
Shares of beneficial interest outstanding | 308,970 |
Net asset value per share outstanding | $9.33 |
Maximum sales charge (0.50% of offering price) | 0.05 |
Maximum offering price per share outstanding | $9.38 |
Class I | |
Net assets applicable to outstanding shares | $1,125,893,043 |
Shares of beneficial interest outstanding | 120,948,163 |
Net asset value and offering price per share outstanding | $9.31 |
74 | MainStay MacKay Short Term Municipal Fund |
Investment Income (Loss) | |
Income | |
Interest | $20,665,026 |
Expenses | |
Manager (See Note 3) | 6,814,529 |
Distribution/Service—Class A (See Note 3) | 1,195,403 |
Distribution/Service—Class A2 (See Note 3) | 292,427 |
Distribution/Service—Investor Class (See Note 3) | 8,139 |
Transfer agent (See Note 3) | 491,312 |
Registration | 406,791 |
Custodian | 356,427 |
Professional fees | 188,827 |
Shareholder communication | 55,274 |
Trustees | 48,269 |
Miscellaneous | 84,859 |
Total expenses before waiver/reimbursement | 9,942,257 |
Expense waiver/reimbursement from Manager (See Note 3) | (293,455) |
Net expenses | 9,648,802 |
Net investment income (loss) | 11,016,224 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on: | |
Unaffiliated investment transactions | (10,199,076) |
Futures transactions | 618,178 |
Net realized gain (loss) | (9,580,898) |
Net change in unrealized appreciation (depreciation) on: | |
Unaffiliated investments | (72,112,807) |
Futures contracts | 49,378 |
Net change in unrealized appreciation (depreciation) | (72,063,429) |
Net realized and unrealized gain (loss) | (81,644,327) |
Net increase (decrease) in net assets resulting from operations | $(70,628,103) |
for the years ended April 30, 2022 and April 30, 2021
2022 | 2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $11,016,224 | $11,910,648 |
Net realized gain (loss) | (9,580,898) | 830,757 |
Net change in unrealized appreciation (depreciation) | (72,063,429) | 19,220,395 |
Net increase (decrease) in net assets resulting from operations | (70,628,103) | 31,961,800 |
Distributions to shareholders: | ||
Class A | (2,489,358) | (2,799,815) |
Class A2 | (604,316) | (186,957) |
Investor Class | (7,453) | (21,980) |
Class I | (11,061,272) | (10,811,576) |
Total distributions to shareholders | (14,162,399) | (13,820,328) |
Capital share transactions: | ||
Net proceeds from sales of shares | 1,461,111,895 | 2,295,244,028 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 9,157,948 | 8,017,943 |
Cost of shares redeemed | (1,744,044,217) | (894,414,936) |
Increase (decrease) in net assets derived from capital share transactions | (273,774,374) | 1,408,847,035 |
Net increase (decrease) in net assets | (358,564,876) | 1,426,988,507 |
Net Assets | ||
Beginning of year | 1,995,953,931 | 568,965,424 |
End of year | $1,637,389,055 | $1,995,953,931 |
76 | MainStay MacKay Short Term Municipal Fund |
Year Ended April 30, | |||||
Class A | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value at beginning of year | $9.73 | $9.54 | $9.58 | $9.51 | $9.56 |
Net investment income (loss) (a) | 0.04 | 0.06 | 0.13 | 0.12 | 0.10 |
Net realized and unrealized gain (loss) | (0.41) | 0.21 | (0.03) | 0.07 | (0.05) |
Total from investment operations | (0.37) | 0.27 | 0.10 | 0.19 | 0.05 |
Less distributions: | |||||
From net investment income | (0.05) | (0.08) | (0.14) | (0.12) | (0.10) |
Net asset value at end of year | $9.31 | $9.73 | $9.54 | $9.58 | $9.51 |
Total investment return (b) | (3.81)% | 2.85% | 1.05% | 2.04%(c) | 0.54% |
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 0.36% | 0.63% | 1.30% | 1.28% | 1.06% |
Net expenses | 0.67% | 0.65% | 0.69% | 0.71% | 0.80% |
Expenses (before waiver/reimbursement) | 0.67% | 0.65% | 0.70% | 0.71% | 0.84% |
Portfolio turnover rate | 62%(d) | 28%(d) | 94%(d) | 96% | 69% |
Net assets at end of year (in 000’s) | $409,722 | $503,769 | $152,614 | $113,023 | $98,982 |
(a) | Per share data based on average shares outstanding during the year. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | Total investment return may reflect adjustments to conform to generally accepted accounting principles. |
(d) | The portfolio turnover rate includes variable rate demand notes. |
Year Ended April 30, | September 30, 2020^ through April 30, 2021 | |
Class A2 | 2022 | |
Net asset value at beginning of period | $9.75 | $9.70** |
Net investment income (loss) (a) | 0.03 | 0.02 |
Net realized and unrealized gain (loss) | (0.41) | 0.07 |
Total from investment operations | (0.38) | 0.09 |
Less distributions: | ||
From net investment income | (0.05) | (0.04) |
Net asset value at end of period | $9.32 | $9.75 |
Total investment return (b) | (3.91)% | 0.90% |
Ratios (to average net assets)/Supplemental Data: | ||
Net investment income (loss) | 0.36% | 0.40%†† |
Net expenses | 0.67% | 0.65%†† |
Portfolio turnover rate (c) | 62% | 28% |
Net assets at end of period (in 000's) | $98,890 | $88,248 |
** | Based on the net asset value of Class A as of September 30, 2020. |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | The portfolio turnover rate includes variable rate demand notes. |
Year Ended April 30, | |||||
Investor Class | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value at beginning of year | $9.76 | $9.57 | $9.61 | $9.54 | $9.59 |
Net investment income (loss) (a) | 0.01 | 0.04 | 0.09 | 0.08 | 0.06 |
Net realized and unrealized gain (loss) | (0.42) | 0.20 | (0.02) | 0.07 | (0.05) |
Total from investment operations | (0.41) | 0.24 | 0.07 | 0.15 | 0.01 |
Less distributions: | |||||
From net investment income | (0.02) | (0.05) | (0.11) | (0.08) | (0.06) |
Net asset value at end of year | $9.33 | $9.76 | $9.57 | $9.61 | $9.54 |
Total investment return (b) | (4.19)% | 2.64% | 0.61% | 1.56% | 0.08% |
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 0.06% | 0.41% | 0.98% | 0.81% | 0.60% |
Net expenses | 0.99% | 0.98% | 1.09% | 1.18% | 1.26% |
Expenses (before waiver/reimbursement) | 1.24% | 1.25% | 1.28% | 1.30% | 1.36% |
Portfolio turnover rate | 62%(c) | 28%(c) | 94%(c) | 96% | 69% |
Net assets at end of year (in 000's) | $2,884 | $3,608 | $4,158 | $3,834 | $3,366 |
(a) | Per share data based on average shares outstanding during the year. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | The portfolio turnover rate includes variable rate demand notes. |
Year Ended April 30, | |||||
Class I | 2022 | 2021 | 2020 | 2019 | 2018 |
Net asset value at beginning of year | $9.73 | $9.54 | $9.58 | $9.51 | $9.56 |
Net investment income (loss) (a) | 0.06 | 0.09 | 0.15 | 0.15 | 0.13 |
Net realized and unrealized gain (loss) | (0.40) | 0.21 | (0.02) | 0.07 | (0.05) |
Total from investment operations | (0.34) | 0.30 | 0.13 | 0.22 | 0.08 |
Less distributions: | |||||
From net investment income | (0.08) | (0.11) | (0.17) | (0.15) | (0.13) |
Net asset value at end of year | $9.31 | $9.73 | $9.54 | $9.58 | $9.51 |
Total investment return (b) | (3.55)% | 3.12% | 1.34% | 2.34% | 0.84% |
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 0.63% | 0.89% | 1.58% | 1.61% | 1.36% |
Net expenses | 0.40% | 0.40% | 0.40% | 0.40% | 0.50% |
Expenses (before waiver/reimbursement) | 0.42% | 0.40% | 0.45% | 0.45% | 0.59% |
Portfolio turnover rate | 62%(c) | 28%(c) | 94%(c) | 96% | 69% |
Net assets at end of year (in 000’s) | $1,125,893 | $1,400,328 | $412,193 | $337,116 | $157,945 |
(a) | Per share data based on average shares outstanding during the year. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | The portfolio turnover rate includes variable rate demand notes. |
78 | MainStay MacKay Short Term Municipal Fund |
Class | Commenced Operations |
Class A | January 2, 2004 |
Class A2 | September 30, 2020 |
Investor Class | February 28, 2008 |
Class I | January 2, 1991 |
Class R6 | N/A* |
SIMPLE Class | N/A* |
* | Class R6 shares were registered for sale effective as of February 28, 2017 and SIMPLE Class shares were registered for sale effective as of August 31, 2020 but have not yet commenced operations. |
• Benchmark yields | • Reported trades |
• Broker/dealer quotes | • Issuer spreads |
• Two-sided markets | • Benchmark securities |
• Bids/offers | • Reference data (corporate actions or material event notices) |
• Industry and economic events | • Comparable bonds |
• Monthly payment information |
80 | MainStay MacKay Short Term Municipal Fund |
82 | MainStay MacKay Short Term Municipal Fund |
Net Realized Gain (Loss) from: | Interest Rate Contracts Risk | Total |
Futures Contracts | $618,178 | $618,178 |
Total Net Realized Gain (Loss) | $618,178 | $618,178 |
Net Change in Unrealized Appreciation (Depreciation) | Interest Rate Contracts Risk | Total |
Futures Contracts | $49,378 | $49,378 |
Total Net Change in Unrealized Appreciation (Depreciation) | $49,378 | $49,378 |
Average Notional Amount | Total |
Futures Contracts Short (a) | $(30,697,266) |
(a) | Positions were open for eight months during the reporting period. |
Class | Expense | Waived |
Class A | $113,164 | $— |
Class A2 | 26,759 | — |
Investor Class | 19,361 | (8,642) |
Class I | 332,028 | — |
Class A | $15,842,049 | 3.9% |
Class A2 | 24,223 | 0.0‡ |
‡ | Less than one-tenth of a percent. |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $1,625,410,158 | $472,555 | $(56,162,970) | $(55,690,415) |
84 | MainStay MacKay Short Term Municipal Fund |
Ordinary income | Undistributed Tax Exempt Income | Accumulated Capital and Other Gain (Loss) | Other Temporary Differences | Unrealized Appreciation (Depreciation) | Total Accumulated Gain (Loss) |
$— | $431,095 | $(12,402,555) | $(472,167) | $(55,690,415) | $(68,134,042) |
Capital Loss Available Through | Short-Term Capital Loss Amounts (000’s) | Long-Term Capital Loss Amounts (000’s) |
Unlimited | $7,173 | $5,229 |
2022 | 2021 | |
Distributions paid from: | ||
Ordinary Income | $1,474,609 | $1,542,687 |
Exempt Interest Dividends | 12,687,790 | 12,277,641 |
Total | $14,162,399 | $13,820,328 |
Class A | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 25,468,868 | $246,761,379 |
Shares issued to shareholders in reinvestment of distributions | 157,184 | 1,513,215 |
Shares redeemed | (33,406,373) | (322,275,514) |
Net increase (decrease) in shares outstanding before conversion | (7,780,321) | (74,000,920) |
Shares converted into Class A (See Note 1) | 41,919 | 402,782 |
Shares converted from Class A (See Note 1) | (261) | (2,536) |
Net increase (decrease) | (7,738,663) | $(73,600,674) |
Year ended April 30, 2021: | ||
Shares sold | 55,435,393 | $537,590,830 |
Shares issued to shareholders in reinvestment of distributions | 191,613 | 1,858,325 |
Shares redeemed | (19,979,365) | (194,022,412) |
Net increase (decrease) in shares outstanding before conversion | 35,647,641 | 345,426,743 |
Shares converted into Class A (See Note 1) | 108,609 | 1,052,998 |
Shares converted from Class A (See Note 1) | (359) | (3,489) |
Net increase (decrease) | 35,755,891 | $346,476,252 |
Class A2 | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 8,256,657 | $80,252,982 |
Shares issued to shareholders in reinvestment of distributions | 62,731 | 604,025 |
Shares redeemed | (6,763,650) | (64,920,522) |
Net increase (decrease) | 1,555,738 | $15,936,485 |
Year ended April 30, 2021: | ||
Shares sold | 9,675,519 | $94,128,477 |
Shares issued to shareholders in reinvestment of distributions | 19,140 | 186,379 |
Shares redeemed | (639,807) | (6,236,428) |
Net increase (decrease) | 9,054,852 | $88,078,428 |
Investor Class | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 125,760 | $1,214,335 |
Shares issued to shareholders in reinvestment of distributions | 750 | 7,255 |
Shares redeemed | (145,542) | (1,409,867) |
Net increase (decrease) in shares outstanding before conversion | (19,032) | (188,277) |
Shares converted into Investor Class (See Note 1) | 261 | 2,536 |
Shares converted from Investor Class (See Note 1) | (41,789) | (402,782) |
Net increase (decrease) | (60,560) | $(588,523) |
Year ended April 30, 2021: | ||
Shares sold | 236,452 | $2,296,983 |
Shares issued to shareholders in reinvestment of distributions | 2,190 | 21,279 |
Shares redeemed | (195,773) | (1,902,517) |
Net increase (decrease) in shares outstanding before conversion | 42,869 | 415,745 |
Shares converted into Investor Class (See Note 1) | 358 | 3,489 |
Shares converted from Investor Class (See Note 1) | (108,281) | (1,052,998) |
Net increase (decrease) | (65,054) | $(633,764) |
Class I | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 117,202,202 | $1,132,883,199 |
Shares issued to shareholders in reinvestment of distributions | 730,370 | 7,033,453 |
Shares redeemed | (140,847,545) | (1,355,438,314) |
Net increase (decrease) | (22,914,973) | $(215,521,662) |
Year ended April 30, 2021: | ||
Shares sold | 171,313,052 | $1,661,227,738 |
Shares issued to shareholders in reinvestment of distributions | 613,419 | 5,951,960 |
Shares redeemed | (71,268,307) | (692,253,579) |
Net increase (decrease) | 100,658,164 | $974,926,119 |
86 | MainStay MacKay Short Term Municipal Fund |
MainStay Funds Trust:
June 27, 2022
88 | MainStay MacKay Short Term Municipal Fund |
90 | MainStay MacKay Short Term Municipal Fund |
92 | MainStay MacKay Short Term Municipal Fund |
94 | MainStay MacKay Short Term Municipal Fund |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
Yie-Hsin Hung* 1962 | MainStay Funds: Trustee since 2017; MainStay Funds Trust: Trustee since 2017 | Senior Vice President of New York Life since joining in 2010, Member of the Executive Management Committee since 2017, Chief Executive Officer, New York Life Investment Management Holdings LLC & New York Life Investment Management LLC since 2015. Senior Managing Director and Co-President of New York Life Investment Management LLC from January 2014 to May 2015. Previously held positions of increasing responsibility, including head of NYLIM International, Alternative Growth Businesses, and Institutional investments since joining New York Life in 2010 | 78 | MainStay VP Funds Trust: Trustee since 2017 (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2017; MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since March 2021; and Turtle Beach Corporation: Director since April 2021 |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
David H. Chow 1957 | MainStay Funds: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); MainStay Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) | Founder and CEO, DanCourt Management, LLC since 1999 | 78 | MainStay VP Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021; VanEck Vectors Group of Exchange-Traded Funds: Independent Chairman of the Board of Trustees since 2008 and Trustee since 2006 (56 portfolios); and Berea College of Kentucky: Trustee since 2009, Chair of the Investment Committee since 2018 | |
Susan B. Kerley 1951 | MainStay Funds: Chairman since 2017 and Trustee since 2007; MainStay Funds Trust: Chairman since 2017 and Trustee since 1990** | President, Strategic Management Advisors LLC since 1990 | 78 | MainStay VP Funds Trust: Chairman since January 2017 and Trustee since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Chairman since 2017 and Trustee since 2011; MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021; and Legg Mason Partners Funds: Trustee since 1991 (45 portfolios) | |
Alan R. Latshaw 1951 | MainStay Funds: Trustee since 2006; MainStay Funds Trust: Trustee since 2007** | Retired; Partner, Ernst & Young LLP (2002 to 2003); Partner, Arthur Andersen LLP (1989 to 2002); Consultant to the MainStay Funds Audit and Compliance Committee (2004 to 2006) | 78 | MainStay VP Funds Trust: Trustee since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011; and MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021 | |
Richard H. Nolan, Jr. 1946**** | MainStay Funds: Trustee since 2007; MainStay Funds Trust: Trustee since 2007** | Managing Director, ICC Capital Management since 2004; President—Shields/Alliance, Alliance Capital Management (1994 to 2004) | 78 | MainStay VP Funds Trust: Trustee since 2006 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011; and MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021 |
96 | MainStay MacKay Short Term Municipal Fund |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
Karen Hammond 1956 | MainStay Funds: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021); MainStay Funds Trust: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021) | Retired, Managing Director, Devonshire Investors (2007 to 2013); Senior Vice President, Fidelity Management & Research Co. (2005 to 2007); Senior Vice President and Corporate Treasurer, FMR Corp. (2003 to 2005); Chief Operating Officer, Fidelity Investments Japan (2001 to 2003) | 78 | MainStay VP Funds Trust: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021) (31 Portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021); MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021); Two Harbors Investment Corp.: Member since 2018, Chair of the Special Committee since 2019; Rhode Island School of Design: Director and Chair of the Finance Committee since 2015; and Blue Cross Blue Shield of Rhode Island: Director since 2019 | |
Jacques P. Perold 1958 | MainStay Funds: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); MainStay Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) | Founder and Chief Executive Officer, CapShift Advisors LLC since 2018; President, Fidelity Management & Research Company (2009 to 2014); President and Chief Investment Officer, Geode Capital Management, LLC (2001 to 2009) | 78 | MainStay VP Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021; Partners in Health: Trustee since 2019; Allstate Corporation: Director since 2015; and MSCI, Inc.: Director since 2017 | |
Richard S. Trutanic 1952 | MainStay Funds: Trustee since 1994; MainStay Funds Trust: Trustee since 2007** | Chairman and Chief Executive Officer, Somerset & Company (financial advisory firm) since 2004; Managing Director, The Carlyle Group (private investment firm) (2002 to 2004); Senior Managing Director, Partner and Board Member, Groupe Arnault S.A. (private investment firm) (1999 to 2002) | 78 | MainStay VP Funds Trust: Trustee since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011; and MainStay CBRE Global Infrastructure Megatrends Fund; Trustee since June 2021 |
Name and Year of Birth | Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | ||
Kirk C. Lehneis 1974 | President, MainStay Funds, MainStay Funds Trust since 2017 | Chief Operating Officer and Senior Managing Director since 2016, New York Life Investment Management LLC and New York Life Investment Management Holdings LLC; Member of the Board of Managers (since 2017) and Senior Managing Director (since 2018), NYLIFE Distributors LLC; Chairman of the Board and Senior Managing Director, NYLIM Service Company LLC since 2017; Trustee, President and Principal Executive Officer of IndexIQ Trust, IndexIQ ETF Trust and IndexIQ Active ETF Trust since January 2018; President, MainStay MacKay DefinedTerm Municipal Opportunities Fund and MainStay VP Funds Trust since 2017** and MainStay CBRE Global Infrastructure Megatrends Fund since 2021; Senior Managing Director, Global Product Development (2015 to 2016); Managing Director, Product Development (2010 to 2015), New York Life Investment Management LLC | ||
Jack R. Benintende 1964 | Treasurer and Principal Financial and Accounting Officer, MainStay Funds since 2007, MainStay Funds Trust since 2009 | Managing Director, New York Life Investment Management LLC since 2007; Treasurer and Principal Financial and Accounting Officer, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011, MainStay VP Funds Trust since 2007** and MainStay CBRE Global Infrastructure Megatrends Fund since 2021; and Assistant Treasurer, New York Life Investment Management Holdings LLC (2008 to 2012) | ||
J. Kevin Gao 1967 | Secretary and Chief Legal Officer, MainStay Funds and MainStay Funds Trust since 2010 | Managing Director and Associate General Counsel, New York Life Investment Management LLC since 2010; Secretary and Chief Legal Officer, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011, MainStay VP Funds Trust since 2010** and MainStay CBRE Global Infrastructure Megatrends Fund since 2021 | ||
Scott T. Harrington 1959 | Vice President— Administration, MainStay Funds since 2005, MainStay Funds Trust since 2009 | Managing Director, New York Life Investment Management LLC (including predecessor advisory organizations) since 2000; Member of the Board of Directors, New York Life Trust Company since 2009; Vice President—Administration, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011, MainStay VP Funds Trust since 2005** and MainStay CBRE Global Infrastructure Megatrends Fund since 2021 | ||
Kevin M. Bopp 1969 | Vice President and Chief Compliance Officer, MainStay Funds and MainStay Funds Trust since 2021 and 2014 to 2020 | Vice President and Chief Compliance Officer, New York Life Investments Alternatives LLC and New York Life Investment Management Holdings LLC (since 2020); Vice President (since 2018) and Chief Compliance Officer (since 2016), New York Life Investment Management LLC; Vice President and Chief Compliance Officer, IndexIQ Advisors LLC, IndexIQ Holdings Inc., IndexIQ LLC and IndexIQ Trust (since 2017); Director and Associate General Counsel (2011 to 2014) and Vice President and Assistant General Counsel (2010 to 2011), New York Life Investment Management LLC; Vice President and Chief Compliance Officer, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund (since June 2021 and 2014 to 2020) and MainStay CBRE Global Infrastructure Megatrends Fund (since 2021); Assistant Secretary, MainStay Funds, MainStay Funds Trust and MainStay VP Funds Trust (2010 to 2014)**, MainStay MacKay DefinedTerm Municipal Opportunities Fund (2011 to 2014) |
98 | MainStay MacKay Short Term Municipal Fund |
For more information
Message from the President and Annual Report
please log in to newyorklifeinvestments.com/accounts.
Not FDIC/NCUA Insured | Not a Deposit | May Lose Value | No Bank Guarantee | Not Insured by Any Government Agency |
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Investors should refer to the Fund’s Summary Prospectus and/or Prospectus and consider the Fund’s investment objectives, strategies, risks, charges and expenses carefully before investing. The Summary Prospectus and/or Prospectus contain this and other information about the Fund. You may obtain copies of the Fund’s Summary Prospectus, Prospectus and Statement of Additional Information, which includes information about MainStay Funds Trust's Trustees, free of charge, upon request, by calling toll-free 800-624-6782, by writing to NYLIFE Distributors LLC, Attn: MainStay Marketing Department, 30 Hudson Street, Jersey City, NJ 07302 or by sending an e-mail to MainStayShareholderServices@nylim.com. These documents are also available via the MainStay Funds’ website at newyorklifeinvestments.com. Please read the Fund’s Summary Prospectus and/or Prospectus carefully before investing.
Average Annual Total Returns for the Year-Ended April 30, 2022 | ||||||
Class | Sales Charge | Inception Date | One Year | Since Inception | Gross Expense Ratio1 | |
Class A Shares | Maximum 4.5% Initial Sales Charge | With sales charges | 6/28/2019 | -10.74% | -1.15% | 0.98% |
Excluding sales charges | -6.54 | 0.47 | 0.98 | |||
Investor Class Shares2 | Maximum 4% Initial Sales Charge | With sales charges | 6/28/2019 | -10.42 | -1.36 | 1.24 |
Excluding sales charges | -6.69 | 0.25 | 1.24 | |||
Class C Shares | Maximum 1% CDSC | With sales charges | 6/28/2019 | -8.03 | -0.04 | 1.49 |
if redeemed Within One Year of Purchase | Excluding sales charges | -7.12 | -0.04 | 1.49 | ||
Class I Shares | No Sales Charge | 6/28/2019 | -6.43 | 0.63 | 0.76 | |
Class R6 Shares | No Sales Charge | 6/28/2019 | -6.41 | 0.65 | 0.77 |
1. | The gross expense ratios presented reflect the Fund’s “Total Annual Fund Operating Expenses” from the most recent Prospectus, as supplemented, and may differ from other expense ratios disclosed in this report. |
2. | Prior to June 30, 2020, the maximum initial sales charge was 4.5%, which is reflected in the applicable average annual total return figures shown. |
Benchmark Performance* | One Year | Since Inception |
Bloomberg Municipal Bond Index 1-15 Yr Blend1 | -6.80% | -0.06% |
Morningstar Muni National Intermediate Category Average2 | -7.32 | -0.22 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. |
1. | The Bloomberg Municipal Bond Index 1-15 Yr Blend is the Fund's primary broad-based securities-market index for comparison purposes. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly into an index. |
2. | The Morningstar Municipal National Intermediate Category Average is representative of funds that invest in bonds issued by various state and local governments to fund public projects. The income from these bonds is generally free from federal taxes. To lower risk, these portfolios spread their assets across many states and sectors. These portfolios have durations of 4.0 to 6.0 years (or average maturities of five to 12 years). Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
6 | MainStay MacKay Strategic Municipal Allocation Fund |
Share Class | Beginning Account Value 11/1/21 | Ending Account Value (Based on Actual Returns and Expenses) 4/30/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 4/30/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $933.10 | $3.69 | $1,020.98 | $3.86 | 0.77% |
Investor Class Shares | $1,000.00 | $933.30 | $4.31 | $1,020.33 | $4.51 | 0.90% |
Class C Shares | $1,000.00 | $930.20 | $5.70 | $1,018.89 | $5.96 | 1.19% |
Class I Shares | $1,000.00 | $933.20 | $2.49 | $1,022.22 | $2.61 | 0.52% |
Class R6 Shares | $1,000.00 | $933.30 | $2.40 | $1,022.32 | $2.51 | 0.50% |
1. | Expenses are equal to the Fund’s annualized expense ratio of each class multiplied by the average account value over the period, divided by 365 and multiplied by 181 (to reflect the six-month period). The table above represents the actual expenses incurred during the six-month period. In addition to the fees and expenses which the Fund bears directly, it also indirectly bears a pro rata share of the fees and expenses of the underlying funds in which it invests. Such indirect expenses are not included in the above-reported expense figures. |
2. | Expenses are equal to the Fund's annualized expense ratio to reflect the six-month period. |
Portfolio Composition as of April 30, 2022 (Unaudited)
Illinois | 13.4% |
California | 8.8 |
New York | 8.4 |
Florida | 6.2 |
Texas | 5.0 |
Pennsylvania | 4.2 |
Michigan | 4.1 |
Utah | 3.8 |
Missouri | 2.7 |
Colorado | 2.5 |
Washington | 2.5 |
Georgia | 2.1 |
Nebraska | 2.0 |
Puerto Rico | 1.9 |
Alabama | 1.8 |
Louisiana | 1.8 |
Guam | 1.7 |
Minnesota | 1.6 |
Wisconsin | 1.2 |
Indiana | 1.2 |
Rhode Island | 1.2 |
New Mexico | 1.1 |
U.S. Virgin Islands | 1.0% |
Mississippi | 0.9 |
Maryland | 0.8 |
Ohio | 0.8 |
Idaho | 0.7 |
North Carolina | 0.7 |
New Jersey | 0.7 |
Arizona | 0.7 |
Montana | 0.7 |
Nevada | 0.6 |
Kansas | 0.6 |
New Hampshire | 0.5 |
Connecticut | 0.4 |
South Carolina | 0.3 |
Alaska | 0.3 |
North Dakota | 0.2 |
Wyoming | 0.2 |
Hawaii | 0.1 |
Other Assets, Less Liabilities | 10.6 |
100.0% |
Top Ten Holdings and/or Issuers Held as of April 30, 2022 (excluding short-term investments) (Unaudited)
1. | Michigan Finance Authority, 4.00%-5.00%, due 2/1/27–6/1/34 |
2. | Illinois Finance Authority, 4.00%-5.00%, due 10/15/22–10/1/38 |
3. | California Municipal Finance Authority, 5.00%, due 5/15/26–5/15/36 |
4. | Minneapolis Special School District No. 1, 5.00%, due 2/1/28–2/1/31 |
5. | State of Illinois, 5.00%-5.50%, due 12/1/25–5/1/39 |
6. | Metropolitan Transportation Authority, 5.00%, due 11/15/29–11/15/42 |
7. | Cook County Township High School District No. 220 Reavis, 5.00%, due 12/1/29 |
8. | Florida Development Finance Corp., 5.00%, due 6/15/31–2/1/37 |
9. | City of Kansas City MO, 5.00%, due 9/1/25 |
10. | New York State Urban Development Corp., 3.00%-5.00%, due 3/15/36–3/15/40 |
8 | MainStay MacKay Strategic Municipal Allocation Fund |
10 | MainStay MacKay Strategic Municipal Allocation Fund |
Principal Amount | Value | |
Municipal Bonds 89.4% | ||
Long-Term Municipal Bonds 87.5% | ||
Alabama 1.1% | ||
Chilton County Health Care Authority, Sales Tax, Chilton County Hospital Project, Revenue Bonds | ||
Series A | ||
5.00%, due 11/1/28 | $ 200,000 | $ 214,069 |
Montgomery County Public Facilities Authority, Revenue Bonds | ||
Series A | ||
4.00%, due 3/1/37 | 675,000 | 688,134 |
Prichard Water Works & Sewer Board, Revenue Bonds | ||
2.375%, due 11/1/28 | 205,000 | 157,158 |
1,059,361 | ||
Alaska 0.3% | ||
Alaska Industrial Development & Export Authority, Interior Gas Utility Project, Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/28 | 250,000 | 257,359 |
Arizona 0.7% | ||
Arizona Industrial Development Authority, Ball Charter Schools Projet, Revenue Bonds | ||
2.65%, due 7/1/26 | 100,000 | 95,609 |
Arizona Industrial Development Authority, Equitable School Revolving Fund LLC, Revenue Bonds | ||
5.00%, due 11/1/23 | 250,000 | 259,068 |
5.00%, due 11/1/25 | 340,000 | 362,633 |
717,310 | ||
California 8.3% | ||
California County Tobacco Securitization Agency, Tobacco Settlement, Revenue Bonds, Senior Lien | ||
Series A | ||
5.00%, due 6/1/30 | 250,000 | 274,206 |
California Health Facilities Financing Authority, Cedars-Sinai Medical Center, Revenue Bonds | ||
Series A | ||
4.00%, due 8/15/40 | 500,000 | 501,395 |
Principal Amount | Value | |
California (continued) | ||
California Municipal Finance Authority, UCR North District Phase I Student Housing Project, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 5/15/26 | $ 500,000 | $ 535,886 |
California Municipal Finance Authority, CHF-Davis I LLC, West Village Student Housing Project, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 5/15/36 | 1,000,000 | 1,083,093 |
California Public Finance Authority, Enso Village Project, Revenue Bonds | ||
Series B-3 | ||
2.125%, due 11/15/27 (a) | 250,000 | 237,324 |
California School Finance Authority, Sonoma County Junior College District Project, Revenue Bonds | ||
Series A | ||
4.00%, due 11/1/41 | 240,000 | 220,083 |
California Statewide Communities Development Authority, Community Infrastructure Program, Special Assessment | ||
Series A | ||
4.00%, due 9/2/26 | 260,000 | 261,433 |
California Statewide Communities Development Authority, CHF-Irvine LLC, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 5/15/36 | 290,000 | 293,953 |
City of Los Angeles CA, Department of Airports, Revenue Bonds | ||
5.00%, due 5/15/32 (b) | 650,000 | 707,967 |
City of Vernon CA, Electric System, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/24 | 250,000 | 261,145 |
Coast Community College District, Election 2012, Unlimited General Obligation | ||
Series D | ||
5.00%, due 8/1/36 | 750,000 | 842,532 |
Hercules Redevelopment Agency Successor Agency, Tax Allocation | ||
Series A, Insured: AGM | ||
5.00%, due 8/1/37 | 500,000 | 554,745 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
Merced City School District, Election 2014, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 8/1/46 | $ 340,000 | $ 339,914 |
Mount Diablo Unified School District, Unlimited General Obligation | ||
Series B | ||
4.00%, due 8/1/28 | 600,000 | 641,639 |
Ravenswood City School District, Election 2018, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 8/1/36 (c) | 360,000 | 400,002 |
Riverside County Community Facilities District, No. 07-2, Special Tax | ||
Insured: AGM | ||
4.00%, due 9/1/40 | 200,000 | 204,069 |
Roseville Joint Union High School District, School Financing Project, Certificate of Participation | ||
Insured: BAM | ||
2.125%, due 6/1/35 | 425,000 | 342,025 |
State of California, Unlimited General Obligation | ||
4.00%, due 3/1/36 | 440,000 | 454,033 |
8,155,444 | ||
Colorado 2.5% | ||
Colorado Educational & Cultural Facilities Authority, Northeast Campus Project, Revenue Bonds | ||
Insured: Moral Obligation State Intercept | ||
4.00%, due 8/1/23 | 50,000 | 51,014 |
Insured: Moral Obligation State Intercept | ||
4.00%, due 8/1/24 | 50,000 | 51,477 |
Colorado Educational & Cultural Facilities Authority, New Vision Charter School, Revenue Bonds | ||
Series A, Insured: Moral Obligation | ||
4.00%, due 6/1/25 | 460,000 | 475,441 |
Colorado Educational & Cultural Facilities Authority, Aspen View Academy Project, Revenue Bonds | ||
4.00%, due 5/1/27 | 70,000 | 70,044 |
Principal Amount | Value | |
Colorado (continued) | ||
Colorado Health Facilities Authority, Aberdeen Ridge, Inc. Obligated Group, Revenue Bonds | ||
Series B-3 | ||
2.125%, due 5/15/28 | $ 250,000 | $ 233,525 |
Colorado Health Facilities Authority, CommonSpirit Health Obligated Group, Revenue Bonds | ||
Series A-1 | ||
4.00%, due 8/1/44 | 250,000 | 238,866 |
Colorado Health Facilities Authority, CommonSpirit Health, Revenue Bonds | ||
Series A-2 | ||
5.00%, due 8/1/33 | 90,000 | 98,261 |
Series A-1 | ||
5.00%, due 8/1/34 | 75,000 | 81,780 |
Series A-1 | ||
5.00%, due 8/1/35 | 105,000 | 114,362 |
Crystal Valley Metropolitan District No. 2, Limited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 12/1/36 | 500,000 | 525,833 |
Sierra Ridge Metropolitan District No. 2, Limited General Obligation | ||
Insured: AGM | ||
4.00%, due 12/1/46 | 500,000 | 511,939 |
2,452,542 | ||
Connecticut 0.4% | ||
University of Connecticut, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 1/15/37 | 385,000 | 415,858 |
Florida 6.2% | ||
CFM Community Development District, Capital Improvement, Special Assessment | ||
2.875%, due 5/1/31 | 100,000 | 89,309 |
City of Pompano Beach FL, John Knox Village Projet, Revenue Bonds | ||
Series B-2 | ||
1.45%, due 1/1/27 | 250,000 | 225,913 |
Cobblestone Community Development District, Assessment Area Two, Special Assessment | ||
Series 2 | ||
3.40%, due 5/1/27 (a) | 160,000 | 152,550 |
12 | MainStay MacKay Strategic Municipal Allocation Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Florida (continued) | ||
County of Osceola FL, Transportation, Revenue Bonds | ||
Series A-1 | ||
5.00%, due 10/1/31 | $ 350,000 | $ 381,057 |
East Nassau Stewardship District, Special Assessment | ||
2.40%, due 5/1/26 | 50,000 | 47,215 |
Florida Development Finance Corp., Mater Academy Project, Revenue Bonds | ||
Series A | ||
5.00%, due 6/15/31 | 515,000 | 538,366 |
Florida Development Finance Corp., UF Health Jacksonville Project, Revenue Bonds | ||
Series A | ||
5.00%, due 2/1/37 | 500,000 | 541,217 |
Florida Municipal Power Agency, Revenue Bonds | ||
Series A | ||
3.00%, due 10/1/33 | 100,000 | 95,488 |
Harbor Bay Community Development District, Special Assessment | ||
Series A-1 | ||
3.10%, due 5/1/24 | 385,000 | 382,395 |
Series A-2 | ||
3.10%, due 5/1/24 | 290,000 | 288,049 |
Hillsborough County Aviation Authority, Tampa International Airport, Revenue Bonds | ||
Series B | ||
4.00%, due 10/1/39 | 640,000 | 654,608 |
Laurel Road Community Development District, Special Assessment | ||
Series A2 | ||
3.125%, due 5/1/31 | 235,000 | 209,141 |
Miami Beach Health Facilities Authority, Mount Sinai Medical Center of Florida, Revenue Bonds | ||
Series B | ||
4.00%, due 11/15/46 | 600,000 | 567,531 |
Palm Coast Park Community Development District, Spring Lake Tracts 2 and 3, Special Assessment | ||
2.40%, due 5/1/26 | 100,000 | 91,543 |
Principal Amount | Value | |
Florida (continued) | ||
Pinellas County Industrial Development Authority, Drs Kiran & Pallavi Patel 2017 Foundation for Global Understanding, Inc. Project, Revenue Bonds | ||
5.00%, due 7/1/29 | $ 500,000 | $ 519,598 |
Preston Cove Community Development District, Special Assessment | ||
3.25%, due 5/1/27 | 170,000 | 159,628 |
Reunion East Community Development District, Series 2021 Project, Special Assessment | ||
2.85%, due 5/1/31 | 100,000 | 86,085 |
Reunion West Community Development District, Special Assessment | ||
3.00%, due 5/1/36 | 100,000 | 85,959 |
Rolling Hills Community Development District, Special Assessment | ||
Series A-2 | ||
3.65%, due 5/1/32 | 200,000 | 182,356 |
State of Florida, Unlimited General Obligation | ||
Series C | ||
4.00%, due 6/1/30 | 500,000 | 501,112 |
Verano No. 3 Community Development District, Special Assessment | ||
2.375%, due 5/1/26 | 50,000 | 46,569 |
Watergrass Community Development District II, Special Assessment | ||
2.50%, due 5/1/31 | 100,000 | 83,662 |
Windward at Lakewood Ranch Community Development District, Phase 2 Project, Special Assessment | ||
3.625%, due 5/1/32 | 135,000 | 124,855 |
6,054,206 | ||
Georgia 2.1% | ||
Atlanta Urban Redevelopment Agency, BeltLine Special Service District, Revenue Bonds | ||
2.875%, due 7/1/31 (a) | 250,000 | 227,696 |
Brookhaven Development Authority, Children's Healthcare of Atlanta, Revenue Bonds | ||
5.00%, due 7/1/22 | 500,000 | 502,931 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Georgia (continued) | ||
DeKalb Private Hospital Authority, Children's Healthcare of Atlanta, Revenue Bonds | ||
Series B | ||
4.00%, due 7/1/38 | $ 820,000 | $ 832,964 |
Municipal Electric Authority of Georgia, Revenue Bonds | ||
Series A | ||
5.00%, due 1/1/38 | 500,000 | 546,196 |
2,109,787 | ||
Guam 1.7% | ||
Guam Government Waterworks Authority, Water and Wastewater System, Revenue Bonds | ||
5.25%, due 7/1/33 | 500,000 | 517,093 |
Guam Power Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/34 | 385,000 | 390,414 |
Territory of Guam, Revenue Bonds | ||
Series F | ||
4.00%, due 1/1/36 | 400,000 | 375,180 |
Territory of Guam, Business Privilege Tax, Revenue Bonds | ||
Series D | ||
5.00%, due 11/15/27 | 365,000 | 387,912 |
1,670,599 | ||
Hawaii 0.1% | ||
Kauai County Community Facilities District, Kukui'ula Development Project, Special Tax | ||
4.00%, due 5/15/26 | 80,000 | 81,311 |
Idaho 0.7% | ||
Idaho Health Facilities Authority, Madison Memorial Hospital, Revenue Bonds | ||
5.00%, due 9/1/37 | 370,000 | 391,470 |
Idaho Housing & Finance Association, Revenue Bonds | ||
Series A | ||
5.00%, due 7/15/33 | 250,000 | 285,817 |
677,287 |
Principal Amount | Value | |
Illinois 13.4% | ||
Chicago Board of Education, Capital Appreciation, School Reform, Unlimited General Obligation | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 12/1/25 | $ 500,000 | $ 442,197 |
Chicago Board of Education, Unlimited General Obligation | ||
Series B | ||
5.00%, due 12/1/31 | 500,000 | 530,765 |
Chicago O'Hare International Airport, Revenue Bonds, Senior Lien | ||
Series C | ||
5.00%, due 1/1/28 | 200,000 | 214,697 |
Series C | ||
5.00%, due 1/1/34 | 250,000 | 266,311 |
Chicago Park District, Limited General Obligation | ||
Series C | ||
5.00%, due 1/1/23 | 500,000 | 510,160 |
Series B | ||
5.00%, due 1/1/24 | 500,000 | 520,834 |
City of Chicago IL, Wastewater Transmission Project, Revenue Bonds, Second Lien | ||
Insured: AGM-CR | ||
5.00%, due 1/1/31 | 500,000 | 519,421 |
City of Chicago IL, Unlimited General Obligation | ||
Series A | ||
5.00%, due 1/1/33 | 420,000 | 449,198 |
Series A | ||
5.00%, due 1/1/34 | 500,000 | 533,140 |
Cook County Township High School District No. 220 Reavis, Unlimited General Obligation | ||
Insured: BAM | ||
5.00%, due 12/1/29 | 1,000,000 | 1,139,548 |
Illinois Finance Authority, Washington and Jane Smith Home (The), Revenue Bonds | ||
4.00%, due 10/15/22 | 160,000 | 160,677 |
4.00%, due 10/15/23 | 205,000 | 207,071 |
4.00%, due 10/15/24 | 215,000 | 217,399 |
Illinois Finance Authority, Acero Charter Schools, Inc., Revenue Bonds | ||
4.00%, due 10/1/33 (a) | 250,000 | 236,577 |
14 | MainStay MacKay Strategic Municipal Allocation Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
Illinois Finance Authority, University of Chicago (The), Revenue Bonds | ||
Series A | ||
4.00%, due 10/1/38 | $ 750,000 | $ 760,724 |
Illinois Finance Authority, Carle Foundation (The), Revenue Bonds | ||
Series A | ||
5.00%, due 8/15/34 | 250,000 | 278,805 |
Kankakee County School District No. 111 Kankakee, Limited General Obligation | ||
Insured: BAM | ||
4.00%, due 1/1/23 | 265,000 | 268,706 |
Lake County Consolidated High School District No. 120, Revenue Bonds | ||
1.50%, due 12/1/23 | 850,000 | 828,631 |
Metropolitan Pier & Exposition Authority, Mccormick Place Expansion Project, Revenue Bonds | ||
3.00%, due 6/15/24 | 250,000 | 249,995 |
Peoria County Community Unit School District No. 323, Unlimited General Obligation | ||
4.00%, due 4/1/28 | 250,000 | 267,213 |
Regional Transportation Authority, Revenue Bonds | ||
Series A, Insured: NATL-RE | ||
5.50%, due 7/1/24 | 160,000 | 170,735 |
Sales Tax Securitization Corp., Revenue Bonds, Second Lien | ||
Series A | ||
5.00%, due 1/1/30 | 500,000 | 558,654 |
Sangamon County School District No. 186 Springfield, Unlimited General Obligation | ||
Series C, Insured: AGM | ||
5.00%, due 6/1/29 | 555,000 | 621,766 |
Sangamon Logan & Menard Counties Community Unit School Dist No. 15 Williamsville, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
5.00%, due 12/1/34 | 250,000 | 281,882 |
Southwestern Illinois Development Authority, Southwestern Illinois Flood Prevention District Council, Revenue Bonds | ||
4.00%, due 4/15/33 | 525,000 | 537,046 |
Principal Amount | Value | |
Illinois (continued) | ||
State of Illinois, Unlimited General Obligation | ||
Series A | ||
5.00%, due 12/1/25 | $ 250,000 | $ 265,527 |
Series A | ||
5.00%, due 12/1/26 | 500,000 | 536,487 |
5.50%, due 5/1/39 | 500,000 | 544,320 |
Village of Mundelein IL, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 12/15/39 | 250,000 | 258,362 |
Winnebago-Boone Etc Counties Community College District No. 511, Rock Valley College, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
5.00%, due 1/1/27 | 700,000 | 767,554 |
13,144,402 | ||
Indiana 1.2% | ||
Elkhart County Building Corp., Revenue Bonds | ||
Insured: BAM State Intercept | ||
4.00%, due 12/1/32 | 500,000 | 530,458 |
Indiana Finance Authority, CWA Authority, Inc., Revenue Bonds, Second Lien | ||
Insured: BAM | ||
4.00%, due 10/1/40 | 250,000 | 263,780 |
Indiana Finance Authority, Revenue Bonds, Second Lien | ||
Insured: BAM | ||
5.00%, due 10/1/35 | 100,000 | 115,907 |
Muncie Sanitary District, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 7/1/29 | 250,000 | 281,504 |
1,191,649 | ||
Kansas 0.6% | ||
Wyandotte County Unified School District No. 500, Kansas City, Unlimited General Obligation | ||
Series A | ||
4.125%, due 9/1/37 | 575,000 | 609,465 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Louisiana 1.8% | ||
City of Shreveport LA, Water & Sewer, Revenue Bonds | ||
Series B, Insured: BAM | ||
5.00%, due 12/1/32 | $ 920,000 | $ 1,005,428 |
Jefferson Parish Consolidated Sewerage District No. 1, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 2/1/39 | 260,000 | 266,533 |
Louisiana Public Facilities Authority, Loyola University Project, Revenue Bonds | ||
4.00%, due 10/1/41 | 475,000 | 465,306 |
1,737,267 | ||
Maryland 0.8% | ||
County of Frederick MD, Urbana Community Development Authority, Special Tax, Senior Lien | ||
Series A | ||
4.00%, due 7/1/34 | 500,000 | 519,026 |
State of Maryland, Unlimited General Obligation | ||
Series A | ||
5.00%, due 3/15/32 | 225,000 | 259,715 |
778,741 | ||
Michigan 4.1% | ||
Calhoun County Hospital Finance Authority, Oaklawn Hospital, Revenue Bonds | ||
5.00%, due 2/15/28 | 240,000 | 258,122 |
City of Saginaw MI, Water Supply System, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 7/1/22 | 215,000 | 215,938 |
Insured: AGM | ||
4.00%, due 7/1/23 | 250,000 | 255,247 |
Michigan Finance Authority, Lawrence Technological University, Revenue Bonds | ||
4.00%, due 2/1/27 | 185,000 | 188,989 |
Michigan Finance Authority, Tobacco Settlement Asset-Backed, Revenue Bonds, Senior Lien | ||
Series A, Class 1 | ||
4.00%, due 6/1/34 | 500,000 | 507,559 |
Michigan Finance Authority, BHSH System Obligated Group, Revenue Bonds | ||
5.00%, due 4/15/29 | 1,000,000 | 1,119,080 |
Principal Amount | Value | |
Michigan (continued) | ||
Michigan Finance Authority, Public Lighting Authority Local Project, Revenue Bonds | ||
5.00%, due 7/1/31 | $ 100,000 | $ 102,565 |
Michigan Mathematics & Science Initiative, Revenue Bonds | ||
4.00%, due 1/1/31 | 145,000 | 141,261 |
Summit Academy North, Michigan Public School Academy, Revenue Bonds | ||
2.25%, due 11/1/26 | 250,000 | 228,727 |
Wayne-Westland Community Schools, Unlimited General Obligation | ||
Insured: Q-SBLF | ||
4.00%, due 11/1/38 | 500,000 | 522,839 |
Wyoming Public Schools, Unlimited General Obligation | ||
Series III, Insured: AGM | ||
4.00%, due 5/1/41 (c) | 500,000 | 507,654 |
4,047,981 | ||
Minnesota 1.6% | ||
City of Independence MN, Global Academy Project, Revenue Bonds | ||
Series A | ||
4.00%, due 7/1/41 | 280,000 | 248,450 |
Minneapolis Special School District No. 1, School Building, Unlimited General Obligation | ||
Series B, Insured: SD CRED PROG | ||
5.00%, due 2/1/28 | 460,000 | 519,407 |
Minneapolis Special School District No. 1, Long Term Facilities Maintenance, Unlimited General Obligation | ||
Series B, Insured: SD CRED PROG | ||
5.00%, due 2/1/31 | 750,000 | 838,084 |
1,605,941 | ||
Mississippi 0.9% | ||
Mississippi Hospital Equipment & Facilities Authority, Forrest County General Hospital Project, Revenue Bonds | ||
5.00%, due 1/1/34 | 810,000 | 894,433 |
Missouri 2.7% | ||
City of Kansas City MO, Main Streetcar Extension Project, Revenue Bonds | ||
Series C | ||
5.00%, due 9/1/25 | 1,000,000 | 1,074,251 |
16 | MainStay MacKay Strategic Municipal Allocation Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Missouri (continued) | ||
City of St Louis MO, Airport, Revenue Bonds | ||
5.00%, due 7/1/36 (b) | $ 725,000 | $ 777,872 |
St. Louis School District, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 4/1/23 | 750,000 | 762,246 |
2,614,369 | ||
Montana 0.7% | ||
County of Gallatin MT, Bozeman Fiber Project, Revenue Bonds (a) | ||
Series A | ||
4.00%, due 10/15/32 | 300,000 | 276,758 |
Series A | ||
4.00%, due 10/15/36 | 300,000 | 267,370 |
Fergus County School District No. 1, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 7/1/36 | 100,000 | 105,787 |
649,915 | ||
Nebraska 2.0% | ||
Ashland-Greenwood Public Schools, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 12/15/33 | 735,000 | 795,194 |
Central Plains Energy Project, Nebraska Gas Project No. 4, Revenue Bonds | ||
5.00%, due 3/1/50 (d) | 900,000 | 923,675 |
Southeast Community College Area, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 3/15/42 | 200,000 | 203,589 |
1,922,458 | ||
Nevada 0.6% | ||
City of Las Vegas NV, Special Improvement District No. 816, Special Assessment | ||
2.00%, due 6/1/24 | 150,000 | 145,891 |
Henderson Local Improvement Districts, Special Assessment | ||
2.00%, due 9/1/25 | 175,000 | 166,606 |
Principal Amount | Value | |
Nevada (continued) | ||
Las Vegas Convention & Visitors Authority, Convention Center Expansion, Revenue Bonds | ||
Series B | ||
5.00%, due 7/1/43 | $ 250,000 | $ 273,429 |
585,926 | ||
New Hampshire 0.5% | ||
New Hampshire Business Finance Authority, Pennichuck Water Works, Inc. Project, Revenue Bonds | ||
Series A | ||
4.00%, due 4/1/30 (b) | 500,000 | 504,504 |
New Jersey 0.7% | ||
Atlantic County Improvement Authority (The), Stockton University-Atlantic City Campus Phase II Project, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 7/1/35 | 200,000 | 227,035 |
Essex County Improvement Authority, North Star Academy Charter School Project, Revenue Bonds | ||
4.00%, due 7/15/30 (a) | 250,000 | 246,618 |
Passaic Valley Sewerage Commission, Revenue Bonds | ||
Series J, Insured: AGM | ||
3.00%, due 12/1/32 | 250,000 | 234,886 |
708,539 | ||
New Mexico 1.1% | ||
City of Santa Fe NM, El Castillo Retirement Residences Project, Revenue Bonds | ||
2.25%, due 5/15/24 | 300,000 | 295,069 |
New Mexico Hospital Equipment Loan Council, La Vida Expansion Project, Revenue Bonds | ||
Series C | ||
2.25%, due 7/1/23 | 750,000 | 747,260 |
1,042,329 | ||
New York 8.4% | ||
Albany Capital Resource Corp., Albany Leadership Charter High School For Girls Project, Revenue Bonds | ||
4.00%, due 6/1/29 | 405,000 | 399,099 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New York (continued) | ||
City of Yonkers NY, Limited General Obligation | ||
Series B, Insured: BAM State Aid Withholding | ||
5.00%, due 10/15/23 (c) | $ 300,000 | $ 309,678 |
Hempstead Union Free School District, Unlimited General Obligation | ||
Series B, Insured: State Aid Withholding | ||
1.00%, due 7/13/22 | 250,000 | 249,776 |
Hudson Yards Infrastructure Corp., Second Indenture, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 2/15/47 | 540,000 | 550,475 |
Metropolitan Transportation Authority, Green Bond, Revenue Bonds | ||
Series A1 | ||
5.00%, due 11/15/29 | 500,000 | 531,912 |
Metropolitan Transportation Authority, Revenue Bonds | ||
Series C | ||
5.00%, due 11/15/38 | 250,000 | 255,156 |
Series C | ||
5.00%, due 11/15/42 | 500,000 | 509,799 |
Monroe County Industrial Development Corp., Rochester Regional Health Project, Revenue Bonds | ||
4.00%, due 12/1/36 | 375,000 | 369,969 |
New York City Municipal Water Finance Authority, New York City Water & Sewer System, Revenue Bonds | ||
Series AA-1 | ||
5.00%, due 6/15/48 | 305,000 | 337,730 |
New York City Transitional Finance Authority, Future Tax Secured, Revenue Bonds | ||
Series E-1 | ||
5.00%, due 2/1/43 | 750,000 | 805,124 |
New York Liberty Development Corp., Bank of America Tower at One Bryant Park Project, Revenue Bonds | ||
2.45%, due 9/15/69 | 500,000 | 469,574 |
New York Liberty Development Corp., 4 World Trade Center Project, Revenue Bonds | ||
Series A | ||
2.75%, due 11/15/41 | 370,000 | 295,016 |
Principal Amount | Value | |
New York (continued) | ||
New York Liberty Development Corp., Revenue Bonds | ||
Series 1WTC | ||
4.00%, due 2/15/43 | $ 250,000 | $ 251,394 |
New York State Dormitory Authority, State Personal Income Tax, Revenue Bonds | ||
Series A | ||
4.00%, due 3/15/37 | 250,000 | 253,333 |
New York State Thruway Authority, Revenue Bonds | ||
Series L | ||
5.00%, due 1/1/32 | 250,000 | 275,233 |
New York State Urban Development Corp., Personal Income Tax, Revenue Bonds | ||
Series E | ||
3.00%, due 3/15/40 | 250,000 | 218,494 |
Series A | ||
5.00%, due 3/15/36 | 750,000 | 836,128 |
New York Transportation Development Corp., John F. kennedy International Airport Project, Revenue Bonds | ||
5.00%, due 12/1/27 | 500,000 | 537,605 |
Port Authority of New York & New Jersey, Revenue Bonds | ||
Series 217 | ||
4.00%, due 11/1/41 | 500,000 | 502,124 |
Triborough Bridge & Tunnel Authority, Revenue Bonds, Senior Lien | ||
Series A-2 | ||
2.00%, due 5/15/45 (d) | 250,000 | 241,648 |
8,199,267 | ||
North Carolina 0.7% | ||
North Carolina Medical Care Commission, Lutheran Services for the Aging, Revenue Bonds | ||
Series A | ||
3.00%, due 3/1/23 | 150,000 | 148,930 |
North Carolina Turnpike Authority, Triangle Expressway System, Revenue Bonds, Senior Lien | ||
5.00%, due 2/1/24 | 500,000 | 519,104 |
668,034 | ||
North Dakota 0.2% | ||
City of Grand Forks ND, Altru Health System Obligated Group, Revenue Bonds | ||
4.00%, due 12/1/38 | 250,000 | 248,626 |
18 | MainStay MacKay Strategic Municipal Allocation Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Ohio 0.8% | ||
Akron Bath Copley Joint Township Hospital District, Children's Hospital Medical Center of Akron, Revenue Bonds | ||
Series A | ||
5.00%, due 11/15/30 (c) | $ 100,000 | $ 112,657 |
Ohio Air Quality Development Authority, Ohio Valley Electric Corp. Project, Revenue Bonds | ||
2.875%, due 2/1/26 | 250,000 | 240,718 |
Ohio Higher Educational Facility Commission, University Circle, Inc. Project, Revenue Bonds, Senior Lien | ||
5.00%, due 1/15/34 | 150,000 | 160,256 |
State of Ohio, University Hospitals Health System, Inc., Revenue Bonds | ||
Series E | ||
5.00%, due 1/15/35 | 250,000 | 271,265 |
784,896 | ||
Pennsylvania 4.2% | ||
Bucks County Industrial Development Authority, Grand View Hospital Project, Revenue Bonds | ||
5.00%, due 7/1/34 | 300,000 | 319,953 |
5.00%, due 7/1/35 | 300,000 | 318,802 |
Chichester School District, Limited General Obligation | ||
Insured: AGM State Aid Withholding | ||
4.00%, due 9/15/31 | 700,000 | 737,502 |
City of Philadelphia PA, Airport, Revenue Bonds | ||
Series A | ||
4.00%, due 7/1/35 | 500,000 | 507,671 |
Dauphin County General Authority, Harrisburg University of Science & Technology, Revenue Bonds | ||
4.25%, due 10/15/26 (a) | 100,000 | 100,191 |
Forest Hills School District, Limited General Obligation | ||
Insured: BAM State Aid Withholding | ||
5.00%, due 8/15/22 | 250,000 | 252,542 |
Indiana County Industrial Development Authority, Foundation for Indiana University of Pennsylvania (The), Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 5/1/29 | 250,000 | 273,025 |
Principal Amount | Value | |
Pennsylvania (continued) | ||
Lancaster Industrial Development Authority, Landis Homes Retirement Community, Revenue Bonds | ||
4.00%, due 7/1/37 | $ 100,000 | $ 94,648 |
North Pocono School District, Regional Wastewater, Limited General Obligation | ||
Series A, Insured: AGM State Aid Withholding | ||
4.00%, due 9/15/32 | 500,000 | 521,803 |
Pennsylvania Turnpike Commission, Revenue Bonds | ||
Series B | ||
4.00%, due 12/1/38 | 250,000 | 251,467 |
Philadelphia Authority for Industrial Development, Philadelphia Performing Arts Charter School Project, Revenue Bonds | ||
5.00%, due 6/15/30 (a) | 435,000 | 447,199 |
Warrior Run School District, Limited General Obligation | ||
Insured: AGM State Aid Withholding | ||
4.00%, due 9/1/36 | 255,000 | 260,129 |
4,084,932 | ||
Puerto Rico 1.9% | ||
Commonwealth of Puerto Rico, Unlimited General Obligation | ||
Series A-1 | ||
(zero coupon), due 7/1/24 | 10,711 | 9,745 |
Series A-1 | ||
(zero coupon), due 7/1/33 | 26,797 | 15,330 |
Series A-1 | ||
4.00%, due 7/1/33 | 20,823 | 19,361 |
Series A-1 | ||
4.00%, due 7/1/35 | 18,717 | 17,354 |
Series A-1 | ||
4.00%, due 7/1/37 | 216,064 | 194,772 |
Series A-1 | ||
4.00%, due 7/1/41 | 21,841 | 19,692 |
Series A-1 | ||
4.00%, due 7/1/46 | 22,715 | 19,984 |
Series A-1 | ||
5.25%, due 7/1/23 | 23,256 | 23,544 |
Series A-1 | ||
5.375%, due 7/1/25 | 123,191 | 127,368 |
Series A-1 | ||
5.625%, due 7/1/27 | 242,981 | 257,748 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Puerto Rico (continued) | ||
Commonwealth of Puerto Rico, Unlimited General Obligation (continued) | ||
Series A-1 | ||
5.625%, due 7/1/29 | $ 22,608 | $ 24,364 |
Series A-1 | ||
5.75%, due 7/1/31 | 21,959 | 24,034 |
Commonwealth of Puerto Rico | ||
(zero coupon), due 11/1/43 | 103,450 | 53,923 |
Puerto Rico Commonwealth Aqueduct & Sewer Authority, Revenue Bonds, Senior Lien | ||
Series A | ||
5.00%, due 7/1/37 (a)(c) | 500,000 | 531,104 |
Puerto Rico Sales Tax Financing Corp., Revenue Bonds | ||
Series A-2 | ||
4.329%, due 7/1/40 | 50,000 | 49,557 |
Series A-1 | ||
4.50%, due 7/1/34 | 500,000 | 512,769 |
1,900,649 | ||
Rhode Island 1.2% | ||
Providence Public Building Authority, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 9/15/36 | 565,000 | 616,938 |
Rhode Island Housing and Mortgage Finance Corp., Revenue Bonds | ||
Series 77A | ||
5.00%, due 4/1/27 (c) | 555,000 | 602,949 |
1,219,887 | ||
South Carolina 0.3% | ||
South Carolina Public Service Authority, Revenue Bonds | ||
Series A | ||
4.00%, due 12/1/37 | 250,000 | 253,427 |
Texas 5.0% | ||
Arlington Higher Education Finance Corp., Wayside Schools, Revenue Bonds | ||
Series A | ||
5.00%, due 8/15/23 | 50,000 | 50,723 |
City of Houston TX, Hotel Occupancy Tax & Special Tax, Revenue Bonds | ||
5.00%, due 9/1/28 | 365,000 | 408,236 |
Principal Amount | Value | |
Texas (continued) | ||
City of San Antonio TX, Electric & Gas Systems, Revenue Bonds | ||
4.00%, due 2/1/34 | $ 250,000 | $ 258,525 |
Clifton Higher Education Finance Corp., IDEA Public Schools, Revenue Bonds | ||
Series T, Insured: PSF-GTD | ||
4.00%, due 8/15/34 | 150,000 | 159,996 |
Series T, Insured: PSF-GTD | ||
4.00%, due 8/15/38 | 200,000 | 211,301 |
Dallas Fort Worth International Airport, Revenue Bonds | ||
Series B | ||
4.00%, due 11/1/45 | 250,000 | 249,137 |
Harris County Cultural Education Facilities Finance Corp., Texas Children's Hospital, Revenue Bonds | ||
Series A | ||
3.00%, due 10/1/40 | 250,000 | 217,267 |
Harris County Municipal Utility District No. 319, Unlimited General Obligation | ||
Insured: AGM | ||
5.50%, due 9/1/26 (c) | 380,000 | 419,080 |
Lewisville Independent School District, Unlimited General Obligation | ||
Insured: PSF-GTD | ||
4.00%, due 8/15/36 | 250,000 | 265,438 |
Mesquite Independent School District, Unlimited General Obligation | ||
Series A, Insured: PSF-GTD | ||
4.00%, due 8/15/39 | 290,000 | 306,693 |
New Hope Cultural Education Facilities Finance Corp., Jubilee Academic Center, Inc., Revenue Bonds (a) | ||
4.00%, due 8/15/22 | 165,000 | 165,203 |
4.00%, due 8/15/24 | 240,000 | 240,248 |
North Texas Tollway Authority, North Texas Tollway System, Revenue Bonds, Second Tier | ||
Series B | ||
5.00%, due 1/1/25 | 235,000 | 249,124 |
Texas Department of Housing & Community Affairs, Revenue Bonds | ||
Series A, Insured: GNMA | ||
3.50%, due 7/1/52 | 650,000 | 650,871 |
Texas Municipal Gas Acquisition & Supply Corp. III, Revenue Bonds | ||
5.00%, due 12/15/22 | 250,000 | 253,790 |
5.00%, due 12/15/23 | 250,000 | 257,305 |
20 | MainStay MacKay Strategic Municipal Allocation Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
Texas Private Activity Bond Surface Transportation Corp., LBJ Infrastructure Group LLC I-635 Managed Lanes Project, Revenue Bonds, Senior Lien | ||
4.00%, due 6/30/32 | $ 500,000 | $ 512,895 |
4,875,832 | ||
U.S. Virgin Islands 1.0% | ||
Matching Fund Special Purpose Securitization Corp., Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/26 | 860,000 | 890,737 |
Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan, Revenue Bonds | ||
Series C, Insured: AGM-CR | ||
5.00%, due 10/1/30 | 100,000 | 100,808 |
991,545 | ||
Utah 3.8% | ||
Intermountain Power Agency, Revenue Bonds (c) | ||
Series A | ||
5.00%, due 7/1/29 | 500,000 | 569,694 |
Series A | ||
5.00%, due 7/1/30 | 375,000 | 432,168 |
UIPA Crossroads Public Infrastructure District, Tax Allocation | ||
4.125%, due 6/1/41 (a) | 500,000 | 424,114 |
Utah Charter School Finance Authority, North Star Academy Project, Revenue Bonds | ||
Insured: UT CSCE | ||
4.00%, due 4/15/30 | 100,000 | 105,050 |
Utah Charter School Finance Authority, Spectrum Academy Project, Revenue Bonds | ||
Insured: UT CSCE | ||
4.00%, due 4/15/40 | 250,000 | 251,977 |
Utah Charter School Finance Authority, Summit Academy, Inc. Project, Revenue Bonds | ||
Insured: UT CSCE | ||
5.00%, due 4/15/25 | 135,000 | 142,817 |
Insured: UT CSCE | ||
5.00%, due 4/15/28 | 200,000 | 219,773 |
Principal Amount | Value | |
Utah (continued) | ||
Utah Charter School Finance Authority, Summit Academy, Inc. Project, Revenue Bonds (continued) | ||
Insured: UT CSCE | ||
5.00%, due 4/15/29 | $ 185,000 | $ 205,392 |
Utah Infrastructure Agency, Syracuse City Project, Revenue Bonds | ||
4.00%, due 10/15/38 | 260,000 | 272,626 |
Utah Infrastructure Agency, Revenue Bonds | ||
5.00%, due 10/15/27 | 250,000 | 262,466 |
Series A | ||
5.00%, due 10/15/28 | 460,000 | 480,234 |
Utah Transit Authority, Revenue Bonds | ||
Series C, Insured: AGM | ||
5.25%, due 6/15/27 | 300,000 | 337,027 |
3,703,338 | ||
Washington 1.8% | ||
Lewis County School District No. 226 Adna, Unlimited General Obligation | ||
Insured: School Bond Guaranty | ||
4.00%, due 12/1/28 | 390,000 | 409,248 |
Washington State Convention Center Public Facilities District, Lodging Tax, Revenue Bonds | ||
Series B | ||
4.00%, due 7/1/37 | 1,070,000 | 1,016,039 |
Washington State Housing Finance Commission, Eliseo Project, Revenue Bonds | ||
Series B-2 | ||
2.125%, due 7/1/27 (a) | 250,000 | 228,220 |
Washington State Housing Finance Commission, Transforming Age Projects, Revenue Bonds | ||
2.375%, due 1/1/26 (a) | 100,000 | 94,972 |
1,748,479 | ||
Wisconsin 1.2% | ||
Public Finance Authority, Roseman University of Health Sciences, Revenue Bonds | ||
4.00%, due 4/1/32 (a) | 215,000 | 212,292 |
Public Finance Authority, College Achieve Paterson Charter School Project, Revenue Bonds | ||
Series A | ||
4.00%, due 6/15/42 (a) | 260,000 | 228,145 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Wisconsin (continued) | ||
Village of Mount Pleasant, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 3/1/27 | $ 250,000 | $ 251,161 |
Wisconsin Health & Educational Facilities Authority, Marshfield Clinic Health System, Inc., Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 2/15/32 | 400,000 | 451,936 |
1,143,534 | ||
Wyoming 0.2% | ||
University of Wyoming, Revenue Bonds | ||
Series C, Insured: AGM | ||
4.00%, due 6/1/42 | 250,000 | 251,472 |
Total Long-Term Municipal Bonds (Cost $90,861,493) | 85,762,901 | |
Short-Term Municipal Notes 1.9% | ||
Alabama 0.7% | ||
Black Belt Energy Gas District, Gas Project No.7, Revenue Bonds | ||
Series C-2 | ||
0.79%, due 10/1/52 (e) | 700,000 | 683,027 |
California 0.5% | ||
Metropolitan Water District of Southern California, Waterworks, Revenue Bonds | ||
Series E | ||
0.58%, due 7/1/37 (e) | 500,000 | 498,708 |
Principal Amount | Value | |
Washington 0.7% | ||
County of King WA, Sewer, Revenue Bonds, Junior Lien | ||
Series A | ||
0.67%, due 1/1/40 (e) | $ 655,000 | $ 653,705 |
Total Short-Term Municipal Notes (Cost $1,855,000) | 1,835,440 | |
Total Investments (Cost $92,716,493) | 89.4% | 87,598,341 |
Other Assets, Less Liabilities | 10.6 | 10,403,860 |
Net Assets | 100.0% | $ 98,002,201 |
† | Percentages indicated are based on Fund net assets. |
(a) | May be sold to institutional investors only under Rule 144A or securities offered pursuant to Section 4(a)(2) of the Securities Act of 1933, as amended. |
(b) | Interest on these securities was subject to alternative minimum tax. |
(c) | Delayed delivery security. |
(d) | Coupon rate may change based on changes of the underlying collateral or prepayments of principal. Rate shown was the rate in effect as of April 30, 2022. |
(e) | Variable-rate demand notes (VRDNs)—Provide the right to sell the security at face value on either that day or within the rate-reset period. VRDNs will normally trade as if the maturity is the earlier put date, even though stated maturity is longer. The interest rate is reset on the put date at a stipulated daily, weekly, monthly, quarterly, or other specified time interval to reflect current market conditions. These securities do not indicate a reference rate and spread in their description. The maturity date shown is the final maturity. |
Type | Number of Contracts | Expiration Date | Value at Trade Date | Current Notional Amount | Unrealized Appreciation (Depreciation)2 |
Short Contracts | |||||
U.S. Treasury 5 Year Notes | (60) | June 2022 | $ (7,046,088) | $ (6,760,312) | $ 285,776 |
U.S. Treasury 10 Year Notes | (35) | June 2022 | (4,419,217) | (4,170,469) | 248,748 |
Net Unrealized Appreciation | $ 534,524 |
1. | As of April 30, 2022, cash in the amount of $131,500 was on deposit with a broker or futures commission merchant for futures transactions. |
2. | Represents the difference between the value of the contracts at the time they were opened and the value as of April 30, 2022. |
Abbreviation(s): |
AGM—Assured Guaranty Municipal Corp. |
BAM—Build America Mutual Assurance Co. |
22 | MainStay MacKay Strategic Municipal Allocation Fund |
CHF—Collegiate Housing Foundation |
CR—Custodial Receipts |
GNMA—Government National Mortgage Association |
NATL-RE—National Public Finance Guarantee Corp. |
PSF-GTD—Permanent School Fund Guaranteed |
Q-SBLF—Qualified School Board Loan Fund |
SD CRED PROG—School District Credit Enhancement Program |
UT CSCE—Utah Charter School Credit Enhancement Program |
Description | Quoted Prices in Active Markets for Identical Assets (Level 1) | Significant Other Observable Inputs (Level 2) | Significant Unobservable Inputs (Level 3) | Total |
Asset Valuation Inputs | ||||
Investments in Securities (a) | ||||
Municipal Bonds | ||||
Long-Term Municipal Bonds | $ — | $ 85,762,901 | $ — | $ 85,762,901 |
Short-Term Municipal Notes | — | 1,835,440 | — | 1,835,440 |
Total Municipal Bonds | — | 87,598,341 | — | 87,598,341 |
Other Financial Instruments | ||||
Futures Contracts (b) | 534,524 | — | — | 534,524 |
Total Investments in Securities and Other Financial Instruments | $ 534,524 | $ 87,598,341 | $ — | $ 88,132,865 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
(b) | The value listed for these securities reflects unrealized appreciation (depreciation) as shown on the Portfolio of Investments. |
Assets | |
Investment in securities, at value (identified cost $92,716,493) | $87,598,341 |
Cash | 15,418,258 |
Cash collateral on deposit at broker for futures contracts | 131,500 |
Receivables: | |
Interest | 907,709 |
Fund shares sold | 536,352 |
Investment securities sold | 256,850 |
Variation margin on futures contracts | 17,421 |
Other assets | 32,285 |
Total assets | 104,898,716 |
Liabilities | |
Payables: | |
Investment securities purchased | 6,818,625 |
Fund shares redeemed | 25,358 |
Custodian | 18,985 |
Shareholder communication | 11,362 |
Manager (See Note 3) | 10,794 |
Transfer agent (See Note 3) | 3,336 |
Professional fees | 1,086 |
NYLIFE Distributors (See Note 3) | 807 |
Trustees | 24 |
Accrued expenses | 6,138 |
Total liabilities | 6,896,515 |
Net assets | $98,002,201 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $10,332 |
Additional paid-in-capital | 103,172,856 |
103,183,188 | |
Total distributable earnings (loss) | (5,180,987) |
Net assets | $98,002,201 |
Class A | |
Net assets applicable to outstanding shares | $5,246,122 |
Shares of beneficial interest outstanding | 552,058 |
Net asset value per share outstanding | $9.50 |
Maximum sales charge (4.50% of offering price) | 0.45 |
Maximum offering price per share outstanding | $9.95 |
Investor Class | |
Net assets applicable to outstanding shares | $46,307 |
Shares of beneficial interest outstanding | 4,882 |
Net asset value per share outstanding | $9.49 |
Maximum sales charge (4.00% of offering price) | 0.40 |
Maximum offering price per share outstanding | $9.89 |
Class C | |
Net assets applicable to outstanding shares | $558,438 |
Shares of beneficial interest outstanding | 58,876 |
Net asset value and offering price per share outstanding | $9.48 |
Class I | |
Net assets applicable to outstanding shares | $92,125,861 |
Shares of beneficial interest outstanding | 9,713,335 |
Net asset value and offering price per share outstanding | $9.48 |
Class R6 | |
Net assets applicable to outstanding shares | $25,473 |
Shares of beneficial interest outstanding | 2,686 |
Net asset value and offering price per share outstanding | $9.48 |
24 | MainStay MacKay Strategic Municipal Allocation Fund |
Investment Income (Loss) | |
Income | |
Interest | $1,406,005 |
Expenses | |
Manager (See Note 3) | 280,731 |
Registration | 78,589 |
Professional fees | 63,907 |
Custodian | 40,990 |
Transfer agent (See Note 3) | 17,375 |
Shareholder communication | 11,373 |
Distribution/Service—Class A (See Note 3) | 3,279 |
Distribution/Service—Investor Class (See Note 3) | 137 |
Distribution/Service—Class C (See Note 3) | 1,357 |
Trustees | 1,476 |
Miscellaneous | 10,961 |
Total expenses before waiver/reimbursement | 510,175 |
Expense waiver/reimbursement from Manager (See Note 3) | (143,325) |
Net expenses | 366,850 |
Net investment income (loss) | 1,039,155 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on: | |
Unaffiliated investment transactions | (45,104) |
Futures transactions | 462,904 |
Net realized gain (loss) | 417,800 |
Net change in unrealized appreciation (depreciation) on: | |
Unaffiliated investments | (7,521,136) |
Futures contracts | 458,665 |
Net change in unrealized appreciation (depreciation) | (7,062,471) |
Net realized and unrealized gain (loss) | (6,644,671) |
Net increase (decrease) in net assets resulting from operations | $(5,605,516) |
for the years ended April 30, 2022 and April 30, 2021
2022 | 2021 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $1,039,155 | $985,090 |
Net realized gain (loss) | 417,800 | 473,721 |
Net change in unrealized appreciation (depreciation) | (7,062,471) | 3,946,470 |
Net increase (decrease) in net assets resulting from operations | (5,605,516) | 5,405,281 |
Distributions to shareholders: | ||
Class A | (32,170) | (5,923) |
Investor Class | (1,324) | (499) |
Class C | (5,882) | (1,494) |
Class I | (1,888,346) | (1,204,650) |
Class R6 | (768) | (557) |
Total distributions to shareholders | (1,928,490) | (1,213,123) |
Capital share transactions: | ||
Net proceeds from sales of shares | 58,605,291 | 8,948,573 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 1,927,984 | 1,212,572 |
Cost of shares redeemed | (16,807,791) | (3,874,286) |
Increase (decrease) in net assets derived from capital share transactions | 43,725,484 | 6,286,859 |
Net increase (decrease) in net assets | 36,191,478 | 10,479,017 |
Net Assets | ||
Beginning of year | 61,810,723 | 51,331,706 |
End of year | $98,002,201 | $61,810,723 |
26 | MainStay MacKay Strategic Municipal Allocation Fund |
Year Ended April 30, | June 28, 2019^ through April 30, | ||
Class A | 2022 | 2021 | 2020 |
Net asset value at beginning of period | $10.43 | $9.65 | $10.00 |
Net investment income (loss) | 0.12(a) | 0.15(a) | 0.14 |
Net realized and unrealized gain (loss) | (0.78) | 0.82 | (0.29) |
Total from investment operations | (0.66) | 0.97 | (0.15) |
Less distributions: | |||
From net investment income | (0.17) | (0.19) | (0.14) |
From net realized gain on investments | (0.10) | — | (0.06) |
Total distributions | (0.27) | (0.19) | (0.20) |
Net asset value at end of period | $9.50 | $10.43 | $9.65 |
Total investment return (b) | (6.54)% | 10.02% | (1.44)% |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 1.22% | 1.47% | 1.39%†† |
Net expenses | 0.77% | 0.72% | 0.77%†† |
Expenses (before waiver/reimbursement) | 0.97% | 0.98% | 1.12%†† |
Portfolio turnover rate (c) | 32% | 66% | 108% |
Net assets at end of period (in 000’s) | $5,246 | $454 | $136 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | The portfolio turnover rate includes variable rate demand notes. |
Year Ended April 30, | June 28, 2019^ through April 30, | ||
Investor Class | 2022 | 2021 | 2020 |
Net asset value at beginning of period | $10.41 | $9.65 | $10.00 |
Net investment income (loss) | 0.11(a) | 0.13(a) | 0.14 |
Net realized and unrealized gain (loss) | (0.79) | 0.80 | (0.29) |
Total from investment operations | (0.68) | 0.93 | (0.15) |
Less distributions: | |||
From net investment income | (0.14) | (0.17) | (0.14) |
From net realized gain on investments | (0.10) | — | (0.06) |
Total distributions | (0.24) | (0.17) | (0.20) |
Net asset value at end of period | $9.49 | $10.41 | $9.65 |
Total investment return (b) | (6.69)% | 9.65% | (1.56)% |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 1.04% | 1.23% | 1.30%†† |
Net expenses | 0.97% | 0.98% | 0.79%†† |
Expenses (before waiver/reimbursement) | 1.17% | 1.24% | 1.14%†† |
Portfolio turnover rate (c) | 32% | 66% | 108% |
Net assets at end of period (in 000's) | $46 | $33 | $34 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | The portfolio turnover rate includes variable rate demand notes. |
Year Ended April 30, | June 28, 2019^ through April 30, | ||
Class C | 2022 | 2021 | 2020 |
Net asset value at beginning of period | $10.42 | $9.65 | $10.00 |
Net investment income (loss) | 0.08(a) | 0.10(a) | 0.12 |
Net realized and unrealized gain (loss) | (0.80) | 0.81 | (0.29) |
Total from investment operations | (0.72) | 0.91 | (0.17) |
Less distributions: | |||
From net investment income | (0.12) | (0.14) | (0.12) |
From net realized gain on investments | (0.10) | — | (0.06) |
Total distributions | (0.22) | (0.14) | (0.18) |
Net asset value at end of period | $9.48 | $10.42 | $9.65 |
Total investment return (b) | (7.12)% | 9.49% | (1.76)% |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 0.76% | 0.97% | 1.11%†† |
Net expenses | 1.22% | 1.23% | 1.03%†† |
Expenses (before waiver/reimbursement) | 1.42% | 1.49% | 1.38%†† |
Portfolio turnover rate (c) | 32% | 66% | 108% |
Net assets at end of period (in 000’s) | $558 | $113 | $79 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. For periods of less than one year, total return is not annualized. |
(c) | The portfolio turnover rate includes variable rate demand notes. |
Year Ended April 30, | June 28, 2019^ through April 30, | ||
Class I | 2022 | 2021 | 2020 |
Net asset value at beginning of period | $10.42 | $9.65 | $10.00 |
Net investment income (loss) | 0.15(a) | 0.18(a) | 0.16 |
Net realized and unrealized gain (loss) | (0.80) | 0.81 | (0.29) |
Total from investment operations | (0.65) | 0.99 | (0.13) |
Less distributions: | |||
From net investment income | (0.19) | (0.22) | (0.16) |
From net realized gain on investments | (0.10) | — | (0.06) |
Total distributions | (0.29) | (0.22) | (0.22) |
Net asset value at end of period | $9.48 | $10.42 | $9.65 |
Total investment return (b) | (6.43)% | 10.28% | (1.35)% |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 1.49% | 1.72% | 1.57%†† |
Net expenses | 0.51% | 0.50% | 0.53%†† |
Expenses (before waiver/reimbursement) | 0.71% | 0.76% | 0.88%†† |
Portfolio turnover rate (c) | 32% | 66% | 108% |
Net assets at end of period (in 000’s) | $92,126 | $61,183 | $51,059 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class I shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | The portfolio turnover rate includes variable rate demand notes. |
28 | MainStay MacKay Strategic Municipal Allocation Fund |
Year Ended April 30, | June 28, 2019^ through April 30, | ||
Class R6 | 2022 | 2021 | 2020 |
Net asset value at beginning of period | $10.42 | $9.65 | $10.00 |
Net investment income (loss) | 0.16(a) | 0.18(a) | 0.17 |
Net realized and unrealized gain (loss) | (0.80) | 0.81 | (0.29) |
Total from investment operations | (0.64) | 0.99 | (0.12) |
Less distributions: | |||
From net investment income | (0.20) | (0.22) | (0.17) |
From net realized gain on investments | (0.10) | — | (0.06) |
Total distributions | (0.30) | (0.22) | (0.23) |
Net asset value at end of period | $9.48 | $10.42 | $9.65 |
Total investment return (b) | (6.41)% | 10.28% | (1.32)% |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss) | 1.51% | 1.72% | 1.60%†† |
Net expenses | 0.50% | 0.50% | 0.50%†† |
Expenses (before waiver/reimbursement) | 0.70% | 0.77% | 0.86%†† |
Portfolio turnover rate (c) | 32% | 66% | 108% |
Net assets at end of period (in 000’s) | $25 | $27 | $25 |
^ | Inception date. |
†† | Annualized. |
(a) | Per share data based on average shares outstanding during the period. |
(b) | Total investment return is calculated exclusive of sales charges and assumes the reinvestment of dividends and distributions. Class R6 shares are not subject to sales charges. For periods of less than one year, total return is not annualized. |
(c) | The portfolio turnover rate includes variable rate demand notes. |
Class | Commenced Operations |
Class A | June 28, 2019 |
Investor Class | June 28, 2019 |
Class C | June 28, 2019 |
Class I | June 28, 2019 |
Class R6 | June 28, 2019 |
SIMPLE Class | N/A* |
* | SIMPLE Class shares were registered for sale effective as of August 31, 2020 but have not yet commenced operations. |
30 | MainStay MacKay Strategic Municipal Allocation Fund |
• Benchmark yields | • Reported trades |
• Broker/dealer quotes | • Issuer spreads |
• Two-sided markets | • Benchmark securities |
• Bids/offers | • Reference data (corporate actions or material event notices) |
• Industry and economic events | • Comparable bonds |
• Monthly payment information |
32 | MainStay MacKay Strategic Municipal Allocation Fund |
Asset Derivatives | Interest Rate Contracts Risk | Total |
Futures Contracts - Net Assets—Net unrealized appreciation on futures contracts (a) | $534,524 | $534,524 |
Total Fair Value | $534,524 | $534,524 |
(a) | Includes cumulative appreciation (depreciation) of futures contracts as reported in the Portfolio of Investments. Only current day’s variation margin is reported within the Statement of Assets and Liabilities. |
Net Realized Gain (Loss) from: | Interest Rate Contracts Risk | Total |
Futures Contracts | $462,904 | $462,904 |
Total Net Realized Gain (Loss) | $462,904 | $462,904 |
Net Change in Unrealized Appreciation (Depreciation) | Interest Rate Contracts Risk | Total |
Futures Contracts | $458,665 | $458,665 |
Total Net Change in Unrealized Appreciation (Depreciation) | $458,665 | $458,665 |
Average Notional Amount | Total |
Futures Contracts Short | $(11,766,458) |
34 | MainStay MacKay Strategic Municipal Allocation Fund |
Class | Expense | Waived |
Class A | $353 | $— |
Investor Class | 126 | — |
Class C | 633 | — |
Class I | 16,263 | — |
Class R6 | — | — |
Class A | $25,301 | 0.5% |
Investor Class | 25,153 | 54.3 |
Class C | 24,955 | 4.5 |
Class I | 50,727,196 | 55.1 |
Class R6 | 25,423 | 99.8 |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $93,238,227 | $153,655 | $(5,793,542) | $(5,639,887) |
Ordinary income | Accumulated Capital and Other Gain (Loss) | Unrealized Appreciation (Depreciation) | Total Accumulated Gain (Loss) |
$93,082 | $365,818 | $(5,639,887) | $(5,180,987) |
2022 | 2021 | |
Distributions paid from: | ||
Ordinary Income | $17,770 | $21,824 |
Long-Term Capital Gains | 594,960 | — |
Exempt Interest Dividends | 1,315,760 | 1,191,299 |
Total | $1,928,490 | $1,213,123 |
Class A | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 627,789 | $6,160,870 |
Shares issued to shareholders in reinvestment of distributions | 3,108 | 31,706 |
Shares redeemed | (123,551) | (1,239,097) |
Net increase (decrease) in shares outstanding before conversion | 507,346 | 4,953,479 |
Shares converted into Class A (See Note 1) | 1,148 | 11,409 |
Net increase (decrease) | 508,494 | $4,964,888 |
Year ended April 30, 2021: | ||
Shares sold | 229,055 | $2,329,156 |
Shares issued to shareholders in reinvestment of distributions | 564 | 5,791 |
Shares redeemed | (201,121) | (2,050,458) |
Net increase (decrease) in shares outstanding before conversion | 28,498 | 284,489 |
Shares converted into Class A (See Note 1) | 1,000 | 10,324 |
Net increase (decrease) | 29,498 | $294,813 |
36 | MainStay MacKay Strategic Municipal Allocation Fund |
Investor Class | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 7,351 | $75,661 |
Shares issued to shareholders in reinvestment of distributions | 128 | 1,306 |
Shares redeemed | (5,527) | (54,397) |
Net increase (decrease) in shares outstanding before conversion | 1,952 | 22,570 |
Shares converted from Investor Class (See Note 1) | (269) | (2,812) |
Net increase (decrease) | 1,683 | $19,758 |
Year ended April 30, 2021: | ||
Shares sold | 1,965 | $19,817 |
Shares issued to shareholders in reinvestment of distributions | 49 | 498 |
Shares redeemed | (2,288) | (22,791) |
Net increase (decrease) | (274) | $(2,476) |
Class C | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 67,637 | $681,825 |
Shares issued to shareholders in reinvestment of distributions | 577 | 5,875 |
Shares redeemed | (19,293) | (192,733) |
Net increase (decrease) in shares outstanding before conversion | 48,921 | 494,967 |
Shares converted from Class C (See Note 1) | (882) | (8,597) |
Net increase (decrease) | 48,039 | $486,370 |
Year ended April 30, 2021: | ||
Shares sold | 4,501 | $45,616 |
Shares issued to shareholders in reinvestment of distributions | 146 | 1,494 |
Shares redeemed | (966) | (10,000) |
Net increase (decrease) in shares outstanding before conversion | 3,681 | 37,110 |
Shares converted from Class C (See Note 1) | (1,001) | (10,324) |
Net increase (decrease) | 2,680 | $26,786 |
Class I | Shares | Amount |
Year ended April 30, 2022: | ||
Shares sold | 5,207,450 | $51,686,935 |
Shares issued to shareholders in reinvestment of distributions | 184,680 | 1,888,329 |
Shares redeemed | (1,552,936) | (15,321,564) |
Net increase (decrease) | 3,839,194 | $38,253,700 |
Year ended April 30, 2021: | ||
Shares sold | 641,141 | $6,553,984 |
Shares issued to shareholders in reinvestment of distributions | 117,710 | 1,204,232 |
Shares redeemed | (175,424) | (1,791,037) |
Net increase (decrease) | 583,427 | $5,967,179 |
Class R6 | Shares | Amount |
Year ended April 30, 2022: | ||
Shares issued to shareholders in reinvestment of distributions | 75 | $768 |
Net increase (decrease) | 75 | $768 |
Year ended April 30, 2021: | ||
Shares issued to shareholders in reinvestment of distributions | 55 | $557 |
Net increase (decrease) | 55 | $557 |
MainStay Funds Trust:
June 27, 2022
38 | MainStay MacKay Strategic Municipal Allocation Fund |
40 | MainStay MacKay Strategic Municipal Allocation Fund |
42 | MainStay MacKay Strategic Municipal Allocation Fund |
44 | MainStay MacKay Strategic Municipal Allocation Fund |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
Yie-Hsin Hung* 1962 | MainStay Funds: Trustee since 2017; MainStay Funds Trust: Trustee since 2017 | Senior Vice President of New York Life since joining in 2010, Member of the Executive Management Committee since 2017, Chief Executive Officer, New York Life Investment Management Holdings LLC & New York Life Investment Management LLC since 2015. Senior Managing Director and Co-President of New York Life Investment Management LLC from January 2014 to May 2015. Previously held positions of increasing responsibility, including head of NYLIM International, Alternative Growth Businesses, and Institutional investments since joining New York Life in 2010 | 78 | MainStay VP Funds Trust: Trustee since 2017 (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2017; MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since March 2021; and Turtle Beach Corporation: Director since April 2021 |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
David H. Chow 1957 | MainStay Funds: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); MainStay Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) | Founder and CEO, DanCourt Management, LLC since 1999 | 78 | MainStay VP Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021; VanEck Vectors Group of Exchange-Traded Funds: Independent Chairman of the Board of Trustees since 2008 and Trustee since 2006 (56 portfolios); and Berea College of Kentucky: Trustee since 2009, Chair of the Investment Committee since 2018 | |
Susan B. Kerley 1951 | MainStay Funds: Chairman since 2017 and Trustee since 2007; MainStay Funds Trust: Chairman since 2017 and Trustee since 1990** | President, Strategic Management Advisors LLC since 1990 | 78 | MainStay VP Funds Trust: Chairman since January 2017 and Trustee since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Chairman since 2017 and Trustee since 2011; MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021; and Legg Mason Partners Funds: Trustee since 1991 (45 portfolios) | |
Alan R. Latshaw 1951 | MainStay Funds: Trustee since 2006; MainStay Funds Trust: Trustee since 2007** | Retired; Partner, Ernst & Young LLP (2002 to 2003); Partner, Arthur Andersen LLP (1989 to 2002); Consultant to the MainStay Funds Audit and Compliance Committee (2004 to 2006) | 78 | MainStay VP Funds Trust: Trustee since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011; and MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021 | |
Richard H. Nolan, Jr. 1946**** | MainStay Funds: Trustee since 2007; MainStay Funds Trust: Trustee since 2007** | Managing Director, ICC Capital Management since 2004; President—Shields/Alliance, Alliance Capital Management (1994 to 2004) | 78 | MainStay VP Funds Trust: Trustee since 2006 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011; and MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021 |
46 | MainStay MacKay Strategic Municipal Allocation Fund |
Name and Year of Birth | Term of Office, Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | Number of Portfolios in Fund Complex Overseen by Trustee | Other Directorships Held by Trustee | |
Karen Hammond 1956 | MainStay Funds: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021); MainStay Funds Trust: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021) | Retired, Managing Director, Devonshire Investors (2007 to 2013); Senior Vice President, Fidelity Management & Research Co. (2005 to 2007); Senior Vice President and Corporate Treasurer, FMR Corp. (2003 to 2005); Chief Operating Officer, Fidelity Investments Japan (2001 to 2003) | 78 | MainStay VP Funds Trust: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021) (31 Portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021); MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since December 2021, Advisory Board Member (June 2021 to December 2021); Two Harbors Investment Corp.: Member since 2018, Chair of the Special Committee since 2019; Rhode Island School of Design: Director and Chair of the Finance Committee since 2015; and Blue Cross Blue Shield of Rhode Island: Director since 2019 | |
Jacques P. Perold 1958 | MainStay Funds: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); MainStay Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) | Founder and Chief Executive Officer, CapShift Advisors LLC since 2018; President, Fidelity Management & Research Company (2009 to 2014); President and Chief Investment Officer, Geode Capital Management, LLC (2001 to 2009) | 78 | MainStay VP Funds Trust: Trustee since 2016, Advisory Board Member (June 2015 to December 2015) (31 portfolios); MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2016, Advisory Board Member (June 2015 to December 2015); MainStay CBRE Global Infrastructure Megatrends Fund: Trustee since June 2021; Partners in Health: Trustee since 2019; Allstate Corporation: Director since 2015; and MSCI, Inc.: Director since 2017 | |
Richard S. Trutanic 1952 | MainStay Funds: Trustee since 1994; MainStay Funds Trust: Trustee since 2007** | Chairman and Chief Executive Officer, Somerset & Company (financial advisory firm) since 2004; Managing Director, The Carlyle Group (private investment firm) (2002 to 2004); Senior Managing Director, Partner and Board Member, Groupe Arnault S.A. (private investment firm) (1999 to 2002) | 78 | MainStay VP Funds Trust: Trustee since 2007 (31 portfolios)***; MainStay MacKay DefinedTerm Municipal Opportunities Fund: Trustee since 2011; and MainStay CBRE Global Infrastructure Megatrends Fund; Trustee since June 2021 |
Name and Year of Birth | Position(s) Held and Length of Service | Principal Occupation(s) During Past Five Years | ||
Kirk C. Lehneis 1974 | President, MainStay Funds, MainStay Funds Trust since 2017 | Chief Operating Officer and Senior Managing Director since 2016, New York Life Investment Management LLC and New York Life Investment Management Holdings LLC; Member of the Board of Managers (since 2017) and Senior Managing Director (since 2018), NYLIFE Distributors LLC; Chairman of the Board and Senior Managing Director, NYLIM Service Company LLC since 2017; Trustee, President and Principal Executive Officer of IndexIQ Trust, IndexIQ ETF Trust and IndexIQ Active ETF Trust since January 2018; President, MainStay MacKay DefinedTerm Municipal Opportunities Fund and MainStay VP Funds Trust since 2017** and MainStay CBRE Global Infrastructure Megatrends Fund since 2021; Senior Managing Director, Global Product Development (2015 to 2016); Managing Director, Product Development (2010 to 2015), New York Life Investment Management LLC | ||
Jack R. Benintende 1964 | Treasurer and Principal Financial and Accounting Officer, MainStay Funds since 2007, MainStay Funds Trust since 2009 | Managing Director, New York Life Investment Management LLC since 2007; Treasurer and Principal Financial and Accounting Officer, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011, MainStay VP Funds Trust since 2007** and MainStay CBRE Global Infrastructure Megatrends Fund since 2021; and Assistant Treasurer, New York Life Investment Management Holdings LLC (2008 to 2012) | ||
J. Kevin Gao 1967 | Secretary and Chief Legal Officer, MainStay Funds and MainStay Funds Trust since 2010 | Managing Director and Associate General Counsel, New York Life Investment Management LLC since 2010; Secretary and Chief Legal Officer, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011, MainStay VP Funds Trust since 2010** and MainStay CBRE Global Infrastructure Megatrends Fund since 2021 | ||
Scott T. Harrington 1959 | Vice President— Administration, MainStay Funds since 2005, MainStay Funds Trust since 2009 | Managing Director, New York Life Investment Management LLC (including predecessor advisory organizations) since 2000; Member of the Board of Directors, New York Life Trust Company since 2009; Vice President—Administration, MainStay MacKay DefinedTerm Municipal Opportunities Fund since 2011, MainStay VP Funds Trust since 2005** and MainStay CBRE Global Infrastructure Megatrends Fund since 2021 | ||
Kevin M. Bopp 1969 | Vice President and Chief Compliance Officer, MainStay Funds and MainStay Funds Trust since 2021 and 2014 to 2020 | Vice President and Chief Compliance Officer, New York Life Investments Alternatives LLC and New York Life Investment Management Holdings LLC (since 2020); Vice President (since 2018) and Chief Compliance Officer (since 2016), New York Life Investment Management LLC; Vice President and Chief Compliance Officer, IndexIQ Advisors LLC, IndexIQ Holdings Inc., IndexIQ LLC and IndexIQ Trust (since 2017); Director and Associate General Counsel (2011 to 2014) and Vice President and Assistant General Counsel (2010 to 2011), New York Life Investment Management LLC; Vice President and Chief Compliance Officer, MainStay VP Funds Trust and MainStay MacKay DefinedTerm Municipal Opportunities Fund (since June 2021 and 2014 to 2020) and MainStay CBRE Global Infrastructure Megatrends Fund (since 2021); Assistant Secretary, MainStay Funds, MainStay Funds Trust and MainStay VP Funds Trust (2010 to 2014)**, MainStay MacKay DefinedTerm Municipal Opportunities Fund (2011 to 2014) |
48 | MainStay MacKay Strategic Municipal Allocation Fund |
For more information
Item 2. Code of Ethics.
As of the end of the period covered by this report, the Registrant has adopted a code of ethics (the “Code”) that applies to the Registrant’s principal executive officer (“PEO”) and principal financial officer (“PFO”). A copy of the Code is filed herewith. The Registrant did not grant any waivers, including implicit waivers, from any provisions of the Code to the PEO or PFO during the period covered by this report.
Item 3. | Audit Committee Financial Expert. |
The Board of Trustees has determined that the Registrant has three audit committee financial experts serving on its Audit Committee. The Audit Committee financial experts are Alan R. Latshaw, Karen Hammond and Susan B. Kerley. Mr. Latshaw, Ms. Hammond and Ms. Kerley are “independent” as defined by Item 3 of Form N-CSR.
Item 4. | Principal Accountant Fees and Services. |
(a) Audit Fees
The aggregate fees billed for the fiscal year ended April 30, 2022 for professional services rendered by KPMG LLP (“KPMG”) for the audit of the Registrant’s annual financial statements or services that are normally provided by KPMG in connection with statutory and regulatory filings or engagements for that fiscal year were $370,400.
The aggregate fees billed for the fiscal year ended April 30, 2021 for professional services rendered by KPMG for the audit of the Registrant’s annual financial statements or services that are normally provided by KPMG in connection with statutory and regulatory filings or engagements for that fiscal year were $296,581.
(b) Audit-Related Fees
The aggregate fees billed for assurance and related services by KPMG that are reasonably related to the performance of the audit of the Registrant’s financial statements and are not reported under paragraph (a) of this Item were (i) $0 for the fiscal year ended April 30, 2022; and (ii) $0 for the fiscal year ended April 30, 2021.
(c) Tax Fees
The aggregate fees billed for professional services rendered by KPMG for tax compliance, tax advice, and tax planning were (i) $0 during the fiscal year ended April 30, 2022; and (ii) $0 during the fiscal year ended April 30, 2021. These services primarily included preparation of federal, state and local income tax returns and excise tax returns, as well as services relating to excise tax distribution requirements.
(d) All Other Fees
The aggregate fees billed for products and services provided by KPMG, other than the services reported in paragraphs (a) through (c) of this Item were (i) $0 during the fiscal year ended April 30, 2022; and (ii) $0 during the fiscal year ended April 30, 2021.
(e) Pre-Approval Policies and Procedures
(1) | The Registrant’s Audit Committee has adopted pre-approval policies and procedures (the “Procedures”) to govern the Committee’s pre-approval of (i) all audit services and permissible non-audit services to be provided to the Registrant by its independent accountant, and (ii) all permissible non-audit services to be provided by such independent accountant to the Registrant’s investment adviser and to any entity controlling, controlled by or under common control with the investment adviser that provides ongoing services to the Registrant (collectively, the “Service Affiliates”) if the services directly relate to the Registrant’s operations and financial reporting. In accordance with the Procedures, the Audit Committee is responsible for the engagement of the independent accountant to certify the Registrant’s financial statements for each fiscal year. With respect to the pre-approval of non-audit services provided to the Registrant and its Service Affiliates, the Procedures provide that the Audit Committee may annually pre-approve a list of the types of services that may be provided to the Registrant or its Service Affiliates, or the Audit Committee may pre-approve such services on a project-by-project basis as they arise. Unless a type of service has received general pre-approval, it will require specific pre-approval by the Audit Committee if it is to be provided by the independent accountant. The Procedures also permit the Audit Committee to delegate authority to one or more of its members to pre-approve any proposed non-audit services that have not been previously pre-approved by the Audit Committee, subject to the ratification by the full Audit Committee no later than its next scheduled meeting. To date, the Audit Committee has not delegated such authority. |
(2) | With respect to the services described in paragraphs (b) through (d) of this Item 4, no amount was approved by the Audit Committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X. |
(f) There were no hours expended on KPMG’s engagement to audit the Registrant’s financial statements for the most recent fiscal year was attributable to work performed by persons other than KPMG’s full-time, permanent employees.
(g) All non-audit fees billed by KPMG for services rendered to the Registrant for the fiscal years ended April 30, 2022 and April 30, 2021 are disclosed in 4(b)-(d) above.
The aggregate non-audit fees billed by KPMG for services rendered to the Registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the Registrant were approximately (i) $32,255 for the fiscal year ended April 30, 2022; and (ii) $72,995 for the fiscal year ended April 30, 2021.
(h) The Registrant’s Audit Committee has determined that the non-audit services rendered by KPMG for the fiscal year ended April 30, 2022 to the Registrant’s investment adviser and any entity controlling, controlled by, or under common control with the Registrant’s investment adviser that provides ongoing services to the Registrant that were not required to be pre-approved by the Audit Committee because they did not relate directly to the operations and financial reporting of the registrant were compatible with maintaining the respective independence of KPMG during the relevant time period.
Item 5. | Audit Committee of Listed Registrants. |
Not applicable.
Item 6. | Investments. |
The Schedule of Investments is included as part of Item 1 of this report.
Item 7. | Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies. |
Not applicable.
Item 8. | Portfolio Managers of Closed-End Management Investment Companies. |
Not applicable.
Item 9. | Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers. |
Not applicable.
Item 10. | Submission of Matters to a Vote of Security Holders. |
Since the Registrant’s last response to this Item, there have been no material changes to the procedures by which shareholders may recommend nominees to the Registrant’s Board of Trustees.
Item 11. | Controls and Procedures. |
(a) Based on an evaluation of the Registrant’s Disclosure Controls and Procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) (the “Disclosure Controls”), as of a date within 90 days prior to the filing date (the “Filing Date”) of this Form N-CSR (the “Report”), the Registrant’s principal executive officer and principal financial officer have concluded that the Disclosure Controls are reasonably designed to ensure that information required to be disclosed by the Registrant in the Report is recorded, processed, summarized and reported by the Filing Date, including ensuring that information required to be disclosed in the Report is accumulated and communicated to the Registrant’s management, including the Registrant’s principal executive officer and principal financial officer, as appropriate to allow timely decisions regarding required disclosure.
(b) There were no changes in the Registrant’s internal control over financial reporting (as defined in Rule 30a-3(d)) under the Investment Company Act of 1940 that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the Registrant’s internal control over financial reporting.
Item 12. | Disclosure of Securities Lending Activities for Closed-End Management Investment Companies. |
Not applicable.
Item 13. | Exhibits. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the Registrant has duly caused this Report to be signed on its behalf by the undersigned, thereunto duly authorized.
MAINSTAY FUNDS TRUST
By: | /s/ Kirk C. Lehneis | |
Kirk C. Lehneis | ||
President and Principal Executive Officer | ||
Date: | July 6, 2022 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this Report has been signed below by the following persons on behalf of the Registrant and in the capacities and on the dates indicated.
By: | /s/ Kirk C. Lehneis | |
Kirk C. Lehneis | ||
President and Principal Executive Officer | ||
Date: | July 6, 2022 | |
By: | /s/ Jack R. Benintende | |
Jack R. Benintende | ||
Treasurer and Principal Financial and Accounting Officer | ||
Date: | July 6, 2022 |