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 Short Term Municipal Fund, and MainStay Strategic Municipal Allocation Fund)
Date of reporting period: October 31, 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, MainStay MacKay Short Term Municipal Fund and MainStay Strategic Municipal Allocation Fund
series of the Registrant.
Item 1. Reports to Stockholders.
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 |
President
Average Annual Total Returns for the Period-Ended October 31, 2022 | ||||||||
Class | Sales Charge | Inception Date1 | Six Months2 | One Year | Five Years | Since Inception | Gross Expense Ratio3 | |
Class A Shares4 | Maximum 5.5% Initial Sales Charge | With sales charges | 10/16/2013 | -14.95% | -14.60% | 3.30% | 6.11% | 1.26% |
Excluding sales charges | -10.00 | -9.62 | 4.53 | 6.80 | 1.26 | |||
Investor Class Shares5 | Maximum 5% Initial Sales Charge | With sales charges | 2/24/2020 | -14.56 | -14.17 | N/A | -3.11 | 1.31 |
Excluding sales charges | -10.06 | -9.65 | N/A | -1.05 | 1.31 | |||
Class C Shares4 | Maximum 1% CDSC | With sales charges | 2/28/2019 | -11.26 | -11.29 | N/A | 3.65 | 2.06 |
if Redeemed Within One Year of Purchase | Excluding sales charges | -10.37 | -10.40 | N/A | 3.65 | 2.06 | ||
Class I Shares4 | No Sales Charge | 6/28/2013 | -9.86 | -9.44 | 4.82 | 7.73 | 1.01 | |
Class R6 Shares | No Sales Charge | 2/24/2020 | -9.82 | -9.31 | N/A | -0.62 | 0.91 |
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. | Not annualized. |
3. | 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. |
4. | 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. |
5. | 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* | Six Months1 | One Year | Five Years | Since Inception |
FTSE Global Core Infrastructure 50/50 Index (Net)2 | -9.73% | -6.47% | 3.69% | 6.28% |
Morningstar Infrastructure Category Average3 | -9.92 | -11.00 | 3.50 | 5.67 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
1. | Not annualized. |
2. | The FTSE Global Core Infrastructure 50/50 Index (Net) is a market-capitalization-weighted index of worldwide infrastructure and infrastructure-related securities. Constituent weights are adjusted semi-annually according to three broad industry sectors: 50% utilities, 30% transportation, and a 20% mix of other sectors. |
3. | 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 5/1/22 | Ending Account Value (Based on Actual Returns and Expenses) 10/31/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 10/31/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $900.00 | $5.94 | $1,018.95 | $ 6.31 | 1.24% |
Investor Class Shares | $1,000.00 | $899.40 | $6.13 | $1,018.75 | $ 6.51 | 1.28% |
Class C Shares | $1,000.00 | $896.30 | $9.70 | $1,014.97 | $10.31 | 2.03% |
Class I Shares | $1,000.00 | $901.40 | $4.65 | $1,020.32 | $ 4.94 | 0.97% |
Class R6 Shares | $1,000.00 | $901.80 | $4.22 | $1,020.77 | $ 4.48 | 0.88% |
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 184 (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. |
United States | 59.5% |
Australia | 9.5 |
Spain | 6.6 |
Canada | 6.1 |
France | 5.3 |
United Kingdom | 3.3 |
Italy | 2.9 |
Japan | 1.8 |
China | 1.5% |
Portugal | 1.4 |
Mexico | 1.2 |
New Zealand | 0.8 |
Other Assets, Less Liabilities | 0.1 |
100.0% |
1. | NextEra Energy, Inc. |
2. | American Tower Corp. |
3. | Transurban Group |
4. | American Electric Power Co., Inc. |
5. | WEC Energy Group, Inc. |
6. | Cellnex Telecom SA |
7. | Cheniere Energy, Inc. |
8. | Atlas Arteria Ltd. |
9. | Vinci SA |
10. | Ameren Corp. |
8 | MainStay CBRE Global Infrastructure Fund |
1. | See page 5 for other share class returns, which may be higher or lower than Class I share returns. See page 6 for more information on benchmark and peer group returns. |
10 | MainStay CBRE Global Infrastructure Fund |
Shares | Value | |
Common Stocks 98.4% | ||
Australia 9.5% | ||
Atlas Arteria Ltd. (Transportation) | 15,047,183 | $ 63,428,293 |
NEXTDC Ltd. (Communications) (a)(b) | 4,592,609 | 24,441,351 |
Transurban Group (Transportation) | 10,132,702 | 85,943,136 |
173,812,780 | ||
Canada 6.1% | ||
Canadian National Railway Co. (Transportation) | 233,294 | 27,638,750 |
Enbridge, Inc. (Midstream / Pipelines) | 1,346,582 | 52,465,646 |
Pembina Pipeline Corp. (Midstream / Pipelines) (b) | 961,843 | 31,756,669 |
111,861,065 | ||
China 1.5% | ||
China Resources Gas Group Ltd. (Utilities) | 4,331,200 | 11,090,574 |
ENN Energy Holdings Ltd. (Utilities) | 838,700 | 8,339,293 |
Guangdong Investment Ltd. (Utilities) | 14,180,253 | 8,942,087 |
28,371,954 | ||
France 5.3% | ||
Eiffage SA (Transportation) | 424,304 | 38,384,409 |
Vinci SA (Transportation) | 641,941 | 59,113,224 |
97,497,633 | ||
Italy 2.9% | ||
Enel SpA (Utilities) | 5,632,965 | 25,156,268 |
Infrastrutture Wireless Italiane SpA (Communications) | 2,149,838 | 18,976,726 |
Terna - Rete Elettrica Nazionale (Utilities) | 1,381,447 | 9,157,862 |
53,290,856 | ||
Japan 1.8% | ||
Central Japan Railway Co. (Transportation) | 154,333 | 17,919,629 |
West Japan Railway Co. (Transportation) | 369,713 | 14,672,157 |
32,591,786 | ||
Mexico 1.2% | ||
Grupo Aeroportuario del Pacifico SAB de CV, Class B (Transportation) | 1,424,689 | 22,068,190 |
New Zealand 0.8% | ||
Infratil Ltd. (Diversified) | 3,018,460 | 15,338,111 |
Shares | Value | |
Portugal 1.4% | ||
EDP - Energias de Portugal SA (Utilities) | 5,872,710 | $ 25,681,398 |
Spain 6.6% | ||
Aena SME SA (Transportation) (a) | 338,268 | 39,831,053 |
Cellnex Telecom SA (Communications) | 2,071,665 | 67,766,389 |
Ferrovial SA (Transportation) | 520,361 | 12,707,037 |
120,304,479 | ||
United Kingdom 3.3% | ||
National Grid plc (Utilities) | 4,464,629 | 48,558,426 |
Pennon Group plc (Utilities) | 1,217,660 | 11,694,955 |
60,253,381 | ||
United States 58.0% | ||
AES Corp. (The) (Utilities) | 1,885,984 | 49,337,341 |
Ameren Corp. (Utilities) | 721,200 | 58,792,224 |
American Electric Power Co., Inc. (Utilities) | 959,547 | 84,363,372 |
American Tower Corp. (Communications) | 448,961 | 93,020,229 |
Cheniere Energy, Inc. (Midstream / Pipelines) | 368,161 | 64,947,282 |
CMS Energy Corp. (Utilities) | 645,446 | 36,822,694 |
Constellation Energy Corp. (Utilities) | 228,909 | 21,641,057 |
Crown Castle, Inc. (Communications) | 360,539 | 48,045,427 |
Dominion Energy, Inc. (Utilities) | 592,100 | 41,429,237 |
Equinix, Inc. (Communications) | 55,602 | 31,495,197 |
Essential Utilities, Inc. (Utilities) | 427,682 | 18,912,098 |
FirstEnergy Corp. (Utilities) | 765,308 | 28,859,765 |
Legacy Reserves, Inc. (Midstream / Pipelines) (a)(c)(d) | 5,055 | 22,444 |
Legacy Reserves, Inc. (Midstream / Pipelines) (a)(c)(d) | 27,942 | 124,062 |
NextEra Energy, Inc. (Utilities) | 1,283,447 | 99,467,143 |
NiSource, Inc. (Utilities) | 821,336 | 21,100,122 |
OGE Energy Corp. (Utilities) | 574,600 | 21,047,598 |
PPL Corp. (Utilities) | 1,438,351 | 38,101,918 |
Public Service Enterprise Group, Inc. (Utilities) | 722,640 | 40,518,425 |
Sempra Energy (Utilities) | 375,676 | 56,704,535 |
Southwest Gas Holdings, Inc. (Utilities) | 222,300 | 16,243,461 |
Targa Resources Corp. (Midstream / Pipelines) | 320,037 | 21,880,930 |
Union Pacific Corp. (Transportation) | 132,706 | 26,161,661 |
WEC Energy Group, Inc. (Utilities) | 816,066 | 74,531,308 |
Williams Cos., Inc. (The) (Midstream / Pipelines) | 933,288 | 30,546,516 |
Shares | Value | ||
Common Stocks (continued) | |||
United States (continued) | |||
Xcel Energy, Inc. (Utilities) | 638,633 | $ 41,581,395 | |
1,065,697,441 | |||
Total Common Stocks (Cost $1,924,978,490) | 1,806,769,074 | ||
Short-Term Investments 1.5% | |||
Affiliated Investment Company 1.5% | |||
United States 1.5% | |||
MainStay U.S. Government Liquidity Fund, 2.905% (e) | 27,643,680 | 27,643,680 | |
Unaffiliated Investment Company 0.0% ‡ | |||
United States 0.0% ‡ | |||
Invesco Government & Agency Portfolio, 3.163% (e)(f) | 2,668 | 2,668 | |
Total Short-Term Investments (Cost $27,646,348) | 27,646,348 | ||
Total Investments (Cost $1,952,624,838) | 99.9% | 1,834,415,422 | |
Other Assets, Less Liabilities | 0.1 | 2,238,915 | |
Net Assets | 100.0% | $ 1,836,654,337 |
† | Percentages indicated are based on Fund net assets. |
‡ | Less than one-tenth of a percent. |
(a) | Non-income producing security. |
(b) | All or a portion of this security was held on loan. As of October 31, 2022, the aggregate market value of securities on loan was $102,095; the total market value of collateral held by the Fund was $111,420. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $108,752. The Fund received cash collateral with a value of $2,668. (See Note 2(I)) |
(c) | Illiquid security—As of October 31, 2022, the total market value deemed illiquid under procedures approved by the Board of Trustees was $146,506, which represented less than one-tenth of a percent of the Fund’s net assets. |
(d) | Security in which significant unobservable inputs (Level 3) were used in determining fair value. |
(e) | Current yield as of October 31, 2022. |
(f) | Represents a security purchased with cash collateral received for securities on loan. |
12 | MainStay CBRE Global Infrastructure Fund |
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 |
MainStay U.S. Government Liquidity Fund | $ 57,455 | $ 266,652 | $ (296,463) | $ — | $ — | $ 27,644 | $ 251 | $ — | 27,644 |
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 | $ 1,806,622,568 | $ — | $ 146,506 | $ 1,806,769,074 | |||
Short-Term Investments | |||||||
Affiliated Investment Company | 27,643,680 | — | — | 27,643,680 | |||
Unaffiliated Investment Company | 2,668 | — | — | 2,668 | |||
Total Short-Term Investments | 27,646,348 | — | — | 27,646,348 | |||
Total Investments in Securities | $ 1,834,268,916 | $ — | $ 146,506 | $ 1,834,415,422 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
Value | Percent | ||
Utilities | $ 898,074,556 | 48.9% | |
Transportation | 407,867,539 | 22.3 | |
Communications | 283,745,319 | 15.4 | |
Midstream / Pipelines | 201,743,549 | 11.0 | |
Diversified | 15,338,111 | 0.8 | |
1,806,769,074 | 98.4 | ||
Short-Term Investments | 27,646,348 | 1.5 | |
Other Assets, Less Liabilities | 2,238,915 | 0.1 | |
Net Assets | $1,836,654,337 | 100.0% |
† | Percentages indicated are based on Fund net assets. |
14 | MainStay CBRE Global Infrastructure Fund |
Assets | |
Investment in unaffiliated securities, at value (identified cost $1,924,981,158) including securities on loan of $102,095 | $1,806,771,742 |
Investment in affiliated investment companies, at value (identified cost $27,643,680) | 27,643,680 |
Cash | 29,317 |
Cash denominated in foreign currencies (identified cost $1,183) | 1,173 |
Receivables: | |
Fund shares sold | 5,539,323 |
Investment securities sold | 4,213,441 |
Dividends | 1,618,068 |
Securities lending | 1,130 |
Other assets | 114,424 |
Total assets | 1,845,932,298 |
Liabilities | |
Cash collateral received for securities on loan | 2,668 |
Payables: | |
Investment securities purchased | 6,076,300 |
Fund shares redeemed | 1,707,020 |
Manager (See Note 3) | 1,218,127 |
Transfer agent (See Note 3) | 141,233 |
Professional fees | 60,711 |
NYLIFE Distributors (See Note 3) | 35,992 |
Shareholder communication | 24,419 |
Custodian | 11,491 |
Total liabilities | 9,277,961 |
Net assets | $1,836,654,337 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $ 157,127 |
Additional paid-in-capital | 2,200,016,376 |
2,200,173,503 | |
Total distributable earnings (loss) | (363,519,166) |
Net assets | $1,836,654,337 |
Class A | |
Net assets applicable to outstanding shares | $ 90,718,802 |
Shares of beneficial interest outstanding | 7,767,798 |
Net asset value per share outstanding | $ 11.68 |
Maximum sales charge (5.50% of offering price) | 0.68 |
Maximum offering price per share outstanding | $ 12.36 |
Investor Class | |
Net assets applicable to outstanding shares | $ 2,193,528 |
Shares of beneficial interest outstanding | 187,900 |
Net asset value per share outstanding | $ 11.67 |
Maximum sales charge (5.00% of offering price) | 0.61 |
Maximum offering price per share outstanding | $ 12.28 |
Class C | |
Net assets applicable to outstanding shares | $ 20,377,680 |
Shares of beneficial interest outstanding | 1,753,796 |
Net asset value and offering price per share outstanding | $ 11.62 |
Class I | |
Net assets applicable to outstanding shares | $1,713,483,418 |
Shares of beneficial interest outstanding | 146,572,662 |
Net asset value and offering price per share outstanding | $ 11.69 |
Class R6 | |
Net assets applicable to outstanding shares | $ 9,880,909 |
Shares of beneficial interest outstanding | 845,156 |
Net asset value and offering price per share outstanding | $ 11.69 |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated (net of foreign tax withholding of $800,088) | $ 25,277,461 |
Dividends-affiliated | 251,268 |
Securities lending, net | 17,368 |
Total income | 25,546,097 |
Expenses | |
Manager (See Note 3) | 7,875,464 |
Transfer agent (See Note 3) | 1,030,139 |
Distribution/Service—Class A (See Note 3) | 117,241 |
Distribution/Service—Investor Class (See Note 3) | 2,999 |
Distribution/Service—Class C (See Note 3) | 116,413 |
Registration | 110,539 |
Professional fees | 50,817 |
Custodian | 46,147 |
Shareholder communication | 45,972 |
Trustees | 18,467 |
Miscellaneous | 13,300 |
Total expenses before waiver/reimbursement | 9,427,498 |
Expense waiver/reimbursement from Manager (See Note 3) | (190,679) |
Net expenses | 9,236,819 |
Net investment income (loss) | 16,309,278 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on: | |
Unaffiliated investment transactions | (47,754,439) |
Foreign currency transactions | (263,231) |
Net realized gain (loss) | (48,017,670) |
Net change in unrealized appreciation (depreciation) on: | |
Unaffiliated investments | (168,024,685) |
Translation of other assets and liabilities in foreign currencies | (33,011) |
Net change in unrealized appreciation (depreciation) | (168,057,696) |
Net realized and unrealized gain (loss) | (216,075,366) |
Net increase (decrease) in net assets resulting from operations | $(199,766,088) |
16 | MainStay CBRE Global Infrastructure Fund |
for the six months ended October 31, 2022 (Unaudited) and the year ended April 30, 2022
Six months ended October 31, 2022 | Year ended April 30, 2022 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $ 16,309,278 | $ 18,549,262 |
Net realized gain (loss) | (48,017,670) | 21,485,168 |
Net change in unrealized appreciation (depreciation) | (168,057,696) | (14,049,896) |
Net increase (decrease) in net assets resulting from operations | (199,766,088) | 25,984,534 |
Distributions to shareholders: | ||
Class A | (905,192) | (996,517) |
Investor Class | (23,643) | (29,596) |
Class C | (131,773) | (143,440) |
Class I | (19,274,290) | (13,609,224) |
Class R6 | (122,915) | (38,065) |
Total distributions to shareholders | (20,457,813) | (14,816,842) |
Capital share transactions: | ||
Net proceeds from sales of shares | 610,745,665 | 1,274,898,463 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 14,267,703 | 13,281,784 |
Cost of shares redeemed | (221,487,845) | (170,967,771) |
Increase (decrease) in net assets derived from capital share transactions | 403,525,523 | 1,117,212,476 |
Net increase (decrease) in net assets | 183,301,622 | 1,128,380,168 |
Net Assets | ||
Beginning of period | 1,653,352,715 | 524,972,547 |
End of period | $1,836,654,337 | $1,653,352,715 |
Six months ended October 31, | Year Ended April 30, | November 1, 2019 through April 30, | Year Ended October 31, | ||||||||||
Class A | 2022 * | 2022 | 2021 | 2020 # | 2019 | 2018 | 2017 | ||||||
Net asset value at beginning of period | $ 13.11 | $ 12.81 | $ 10.39 | $ 11.99 | $ 10.04 | $ 11.40 | $ 10.78 | ||||||
Net investment income (loss) | 0.10(a) | 0.23(a) | 0.16(a) | 0.07(a) | 0.16 | 0.19 | 0.17(a) | ||||||
Net realized and unrealized gain (loss) | (1.41) | 0.26 | 2.42 | (1.30) | 2.12 | (0.51) | 1.30 | ||||||
Total from investment operations | (1.31) | 0.49 | 2.58 | (1.23) | 2.28 | (0.32) | 1.47 | ||||||
Less distributions: | |||||||||||||
From net investment income | (0.12) | (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 | (0.12) | (0.19) | (0.16) | (0.37) | (0.33) | (1.04) | (0.85) | ||||||
Net asset value at end of period | $ 11.68 | $ 13.11 | $ 12.81 | $ 10.39 | $ 11.99 | $ 10.04 | $ 11.40 | ||||||
Total investment return (b) | (10.00)% | 3.91% | 25.04% | (10.57)% | 23.24% | (3.16)% | 14.96% | ||||||
Ratios (to average net assets)/Supplemental Data: | |||||||||||||
Net investment income (loss) | 1.53%†† | 1.75% | 1.35% | 1.32%†† | 1.51% | 1.89% | 1.59% | ||||||
Net expenses | 1.24%††(c) | 1.26%(c) | 1.29%(c) | 1.32%†† (c)(d) | 1.35% | 1.35% | 1.53% | ||||||
Expenses (before waiver/reimbursement) | 1.24%††(c) | 1.26%(c) | 1.35%(c) | 1.54%†† (c)(d) | 1.56% | 1.83% | 2.36% | ||||||
Portfolio turnover rate | 23% | 32% | 51% | 49% | 53% | 61% | 85% | ||||||
Net assets at end of period (in 000's) | $ 90,719 | $ 88,715 | $ 45,642 | $ 11,237 | $ 11,700 | $ 1,787 | $ 1,146 |
* | Unaudited. |
# | 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%. |
18 | MainStay CBRE Global Infrastructure Fund |
Six months ended October 31, | Year Ended April 30, | February 24, 2020^ through April 30, | |||||
Investor Class | 2022 * | 2022 | 2021 | 2020 | |||
Net asset value at beginning of period | $ 13.11 | $ 12.80 | $ 10.38 | $ 12.50 | |||
Net investment income (loss) (a) | 0.10 | 0.23 | 0.13 | (0.00)‡ | |||
Net realized and unrealized gain (loss) | (1.42) | 0.26 | 2.43 | (2.08) | |||
Total from investment operations | (1.32) | 0.49 | 2.56 | (2.08) | |||
Less distributions: | |||||||
From net investment income | (0.12) | (0.18) | (0.14) | (0.03) | |||
Return of capital | — | — | — | (0.01) | |||
Total distributions | (0.12) | (0.18) | (0.14) | (0.04) | |||
Net asset value at end of period | $ 11.67 | $ 13.11 | $ 12.80 | $ 10.38 | |||
Total investment return (b) | (10.06)% | 3.85% | 24.87% | (16.66)% | |||
Ratios (to average net assets)/Supplemental Data: | |||||||
Net investment income (loss) | 1.52%†† | 1.77% | 1.11% | (0.12)%†† | |||
Net expenses (c) | 1.28%†† | 1.31% | 1.45% | 1.45%†† | |||
Expenses (before waiver/reimbursement) (c) | 1.28%†† | 1.31% | 1.76% | 1.67%†† | |||
Portfolio turnover rate | 23% | 32% | 51% | 49% | |||
Net assets at end of period (in 000's) | $ 2,194 | $ 2,430 | $ 2,159 | $ 106 |
* | Unaudited. |
^ | 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. |
Six months ended October 31, | Year Ended April 30, | November 1, 2019 through April 30, 2020# | February 28, 2019^ through October 31, | ||||||
Class C | 2022 * | 2022 | 2021 | 2019 | |||||
Net asset value at beginning of period | $ 13.04 | $ 12.75 | $ 10.37 | $ 11.96 | $ 10.82 | ||||
Net investment income (loss) (a) | 0.05 | 0.12 | 0.06 | 0.03 | 0.04 | ||||
Net realized and unrealized gain (loss) | (1.40) | 0.27 | 2.42 | (1.29) | 1.22 | ||||
Total from investment operations | (1.35) | 0.39 | 2.48 | (1.26) | 1.26 | ||||
Less distributions: | |||||||||
From net investment income | (0.07) | (0.10) | (0.10) | (0.03) | (0.12) | ||||
From net realized gain on investments | — | — | — | (0.29) | — | ||||
Return of capital | — | — | — | (0.01) | — | ||||
Total distributions | (0.07) | (0.10) | (0.10) | (0.33) | (0.12) | ||||
Net asset value at end of period | $ 11.62 | $ 13.04 | $ 12.75 | $ 10.37 | $ 11.96 | ||||
Total investment return (b) | (10.37)% | 3.11% | 24.04% | (10.89)% | 11.67% | ||||
Ratios (to average net assets)/Supplemental Data: | |||||||||
Net investment income (loss) | 0.79%†† | 0.89% | 0.52% | 0.58%†† | 0.46%†† | ||||
Net expenses | 2.03%††(c) | 2.06%(c) | 2.08%(c) | 2.09%†† (c)(d) | 2.10%†† | ||||
Expenses (before waiver/reimbursement) | 2.03%††(c) | 2.06%(c) | 2.51%(c) | 2.36%†† (c)(d) | 2.31%†† | ||||
Portfolio turnover rate | 23% | 32% | 51% | 49% | 53% | ||||
Net assets at end of period (in 000’s) | $ 20,378 | $ 24,119 | $ 11,522 | $ 992 | $ 1,048 |
* | Unaudited. |
# | 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%. |
20 | MainStay CBRE Global Infrastructure Fund |
Six months ended October 31, | Year Ended April 30, | November 1, 2019 through April 30, 2020# | Year Ended October 31, | ||||||||||
Class I | 2022 * | 2022 | 2021 | 2019 | 2018 | 2017 | |||||||
Net asset value at beginning of period | $ 13.12 | $ 12.82 | $ 10.39 | $ 11.99 | $ 10.04 | $ 11.40 | $ 10.78 | ||||||
Net investment income (loss) | 0.11(a) | 0.27(a) | 0.21(a) | 0.09(a) | 0.20 | 0.23 | 0.20 | ||||||
Net realized and unrealized gain (loss) | (1.40) | 0.26 | 2.41 | (1.30) | 2.11 | (0.52) | 1.30 | ||||||
Total from investment operations | (1.29) | 0.53 | 2.62 | (1.21) | 2.31 | (0.29) | 1.50 | ||||||
Less distributions: | |||||||||||||
From net investment income | (0.14) | (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 | (0.14) | (0.23) | (0.19) | (0.39) | (0.36) | (1.07) | (0.88) | ||||||
Net asset value at end of period | $ 11.69 | $ 13.12 | $ 12.82 | $ 10.39 | $ 11.99 | $ 10.04 | $ 11.40 | ||||||
Total investment return (b) | (9.86)% | 4.19% | 25.46% | (10.46)% | 23.52% | (2.88)% | 15.25% | ||||||
Ratios (to average net assets)/Supplemental Data: | |||||||||||||
Net investment income (loss) | 1.79%†† | 2.09% | 1.78% | 1.59%†† | 1.83% | 2.14% | 1.83% | ||||||
Net expenses | 0.97%††(c) | 0.97%(c) | 0.97%(c) | 1.05%†† (c)(d) | 1.10% | 1.10% | 1.21% | ||||||
Expenses (before waiver/reimbursement) | 0.99%††(c) | 1.01%(c) | 1.10%(c) | 1.18%†† (c)(d) | 1.14% | 1.41% | 1.61% | ||||||
Portfolio turnover rate | 23% | 32% | 51% | 49% | 53% | 61% | 85% | ||||||
Net assets at end of period (in 000's) | $ 1,713,483 | $ 1,527,548 | $ 465,299 | $ 208,291 | $ 225,176 | $ 71,919 | $ 36,755 |
* | Unaudited. |
# | 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%. |
Six months ended October 31, | Year Ended April 30, | February 24, 2020^ through April 30, | |||||
Class R6 | 2022 * | 2022 | 2021 | 2020 | |||
Net asset value at beginning of period | $ 13.12 | $ 12.82 | $ 10.39 | $ 12.51 | |||
Net investment income (loss) (a) | 0.12 | 0.35 | 0.17 | 0.02 | |||
Net realized and unrealized gain (loss) | (1.40) | 0.19 | 2.45 | (2.11) | |||
Total from investment operations | (1.28) | 0.54 | 2.62 | (2.09) | |||
Less distributions: | |||||||
From net investment income | (0.15) | (0.24) | (0.19) | (0.02) | |||
Return of capital | — | — | — | (0.01) | |||
Total distributions | (0.15) | (0.24) | (0.19) | (0.03) | |||
Net asset value at end of period | $ 11.69 | $ 13.12 | $ 12.82 | $ 10.39 | |||
Total investment return (b) | (9.82)% | 4.23% | 25.50% | (16.65)% | |||
Ratios (to average net assets)/Supplemental Data: | |||||||
Net investment income (loss) | 1.90%†† | 2.63% | 1.47% | 0.85%†† | |||
Net expenses (c) | 0.88%†† | 0.91% | 0.95% | 0.95%†† | |||
Expenses (before waiver/reimbursement) (c) | 0.88%†† | 0.91% | 1.02% | 1.13%†† | |||
Portfolio turnover rate | 23% | 32% | 51% | 49% | |||
Net assets at end of period (in 000's) | $ 9,881 | $ 10,541 | $ 350 | $ 21 |
* | Unaudited. |
^ | 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. |
22 | MainStay CBRE Global Infrastructure Fund |
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. |
• | Level 1—quoted prices (unadjusted) in active markets for an identical asset or liability |
• | Level 2—other significant observable inputs (including quoted prices for a similar asset or liability in active markets, interest rates and yield curves, prepayment speeds, credit risk, etc.) |
• | Level 3—significant unobservable inputs (including the Fund's own assumptions about the assumptions that market participants would use in measuring fair value of an asset or liability) |
• 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 | $ 52,137 | $— |
Investor Class | 1,741 | — |
Class C | 16,857 | — |
Class I | 959,191 | — |
Class R6 | 213 | — |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $1,958,885,295 | $69,396,960 | $(193,866,833) | $(124,469,873) |
Total Capital Loss Available Through | Short-Term Capital Loss Amounts (000’s) | Long-Term Capital Loss Amounts (000’s) |
Unlimited | $119,451 | $91,131 |
2022 | |
Distributions paid from: | |
Ordinary Income | $14,816,842 |
28 | MainStay CBRE Global Infrastructure Fund |
Class A | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 1,933,121 | $ 24,623,146 |
Shares issued to shareholders in reinvestment of distributions | 72,681 | 877,325 |
Shares redeemed | (1,008,082) | (12,299,445) |
Net increase (decrease) in shares outstanding before conversion | 997,720 | 13,201,026 |
Shares converted into Class A (See Note 1) | 7,237 | 93,654 |
Shares converted from Class A (See Note 1) | (2,555) | (28,820) |
Net increase (decrease) | 1,002,402 | $ 13,265,860 |
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 |
Investor Class | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 19,745 | $ 252,315 |
Shares issued to shareholders in reinvestment of distributions | 1,905 | 23,075 |
Shares redeemed | (13,184) | (166,282) |
Net increase (decrease) in shares outstanding before conversion | 8,466 | 109,108 |
Shares converted into Investor Class (See Note 1) | 947 | 12,536 |
Shares converted from Investor Class (See Note 1) | (6,812) | (88,162) |
Net increase (decrease) | 2,601 | $ 33,482 |
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 |
Class C | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 172,415 | $ 2,189,751 |
Shares issued to shareholders in reinvestment of distributions | 10,638 | 130,225 |
Shares redeemed | (277,303) | (3,356,020) |
Net increase (decrease) in shares outstanding before conversion | (94,250) | (1,036,044) |
Shares converted from Class C (See Note 1) | (1,383) | (18,028) |
Net increase (decrease) | (95,633) | $ (1,054,072) |
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 |
Class I | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 45,806,737 | $ 582,888,160 |
Shares issued to shareholders in reinvestment of distributions | 1,088,135 | 13,114,836 |
Shares redeemed | (16,710,575) | (205,315,724) |
Net increase (decrease) in shares outstanding before conversion | 30,184,297 | 390,687,272 |
Shares converted into Class I (See Note 1) | 2,552 | 28,820 |
Net increase (decrease) | 30,186,849 | $ 390,716,092 |
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 |
Class R6 | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 61,573 | $ 792,293 |
Shares issued to shareholders in reinvestment of distributions | 10,146 | 122,242 |
Shares redeemed | (29,818) | (350,374) |
Net increase (decrease) | 41,901 | $ 564,161 |
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 |
30 | MainStay CBRE Global Infrastructure Fund |
1.
2. | This Fund is registered for sale in AZ, CA, NV, OR, TX, UT, WA and MI (Class A and Class I shares only), and CO, FL, GA, HI, ID, MA, MD, NH, NJ and NY (Class I shares only). |
3. | This Fund is registered for sale in CA, CT, DE, FL, MA, NJ, NY and VT. |
4. | An affiliate of New York Life Investment Management LLC. |
5013764.2MS229-22 | MSCBGI10-12/22 |
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 |
President
Average Annual Total Returns for the Period-Ended October 31, 2022 | ||||||||
Class | Sales Charge | Inception Date1 | Six Months2 | One Year | Five Years | Ten Years or Since Inception | Gross Expense Ratio3 | |
Class A Shares4 | Maximum 5.5% Initial Sales Charge | With sales charges | 12/20/2002 | -23.83% | -25.70% | 3.15% | 5.62% | 1.30% |
Excluding sales charges | -19.39 | -21.38 | 4.38 | 6.25 | 1.30 | |||
Investor Class Shares5 | Maximum 5% Initial Sales Charge | With sales charges | 2/24/2020 | -23.46 | -25.27 | N/A | -3.40 | 1.26 |
Excluding sales charges | -19.43 | -21.34 | N/A | -1.35 | 1.26 | |||
Class C Shares4 | Maximum 1% CDSC | With sales charges | 1/17/2003 | -20.45 | -22.65 | 3.62 | 5.42 | 2.01 |
If Redeemed Within One Year of Purchase | Excluding sales charges | -19.67 | -21.89 | 3.62 | 5.42 | 2.01 | ||
Class I Shares4 | No Sales Charge | 12/31/1996 | -19.26 | -21.08 | 4.76 | 6.56 | 1.05 | |
Class R3 Shares4 | No Sales Charge | 8/5/2011 | -19.54 | -21.57 | 4.13 | 5.99 | 1.65 | |
Class R6 Shares4 | No Sales Charge | 7/3/2014 | -19.22 | -21.00 | 4.85 | 5.32 | 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. | Not annualized. |
3. | 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. |
4. | 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. |
5. | Prior to June 30, 2020, the maximum initial sales charge for Investor Class shares was 5.5%, which is reflected in the average annual total return figures shown. |
Benchmark Performance* | Six Months1 | One Year | Five Years | Ten Years |
FTSE NAREIT All Equity REITs Index2 | -18.37% | -19.16% | 4.77% | 7.38% |
CBRE Real Estate Tiered Index3 | -18.37 | -19.16 | 3.66 | 6.56 |
MSCI U.S. REIT® Index4 | -17.92 | -18.78 | 4.12 | 6.79 |
Morningstar Real Estate Category Average5 | -18.61 | -20.97 | 3.60 | 6.06 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
1. | Not annualized. |
2. | 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. |
3. | 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. |
4. | The MSCI U.S. REIT® Index is a free float-adjusted market capitalization weighted index that is comprised of equity REITs. The MSCI U.S. REIT® Index is based on the MSCI USA Investable Market Index, its parent index, which captures the large, mid and small cap segments of the U.S. market. |
5. | 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 5/1/22 | Ending Account Value (Based on Actual Returns and Expenses) 10/31/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 10/31/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $806.10 | $5.37 | $1,019.26 | $6.01 | 1.18% |
Investor Class Shares | $1,000.00 | $805.70 | $5.46 | $1,019.16 | $6.11 | 1.20% |
Class C Shares | $1,000.00 | $803.30 | $8.77 | $1,015.48 | $9.80 | 1.93% |
Class I Shares | $1,000.00 | $807.40 | $3.78 | $1,021.02 | $4.23 | 0.83% |
Class R3 Shares | $1,000.00 | $804.60 | $6.50 | $1,018.00 | $7.27 | 1.43% |
Class R6 Shares | $1,000.00 | $807.80 | $3.37 | $1,021.47 | $3.77 | 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 184 (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. |
Residential | 18.7% |
Net Lease Properties | 12.5 |
Industrial Properties | 12.3 |
Technology Towers | 12.2 |
Self Storage Property | 11.6 |
Technology Datacenters | 10.1 |
Healthcare Facilities | 6.6 |
Hotels | 5.4 |
Enclosed Mall | 4.5% |
Community Shopping Centers | 3.4 |
Office Buildings | 2.4 |
Short–Term Investments | 0.5 |
Other Assets, Less Liabilities | –0.2 |
100.0% |
1. | Prologis, Inc. |
2. | Equinix, Inc. |
3. | Crown Castle, Inc. |
4. | American Tower Corp. |
5. | CubeSmart |
6. | Simon Property Group, Inc. |
7. | Alexandria Real Estate Equities, Inc. |
8. | Sun Communities, Inc. |
9. | Extra Space Storage, Inc. |
10. | Invitation Homes, Inc. |
8 | MainStay CBRE Real Estate Fund |
1. | See page 5 for other share class returns, which may be higher or lower than Class I share returns. See page 6 for more information on benchmark and peer group returns. |
Shares | Value | |
Common Stocks 99.7% | ||
Community Shopping Centers 3.4% | ||
Kite Realty Group Trust | 319,300 | $ 6,271,052 |
Retail Opportunity Investments Corp. | 170,190 | 2,464,351 |
Urban Edge Properties | 184,257 | 2,601,709 |
11,337,112 | ||
Enclosed Mall 4.5% | ||
Simon Property Group, Inc. | 137,000 | 14,930,260 |
Healthcare Facilities 6.6% | ||
Alexandria Real Estate Equities, Inc. | 99,711 | 14,488,008 |
Ventas, Inc. | 196,431 | 7,686,345 |
22,174,353 | ||
Hotels 5.4% | ||
DiamondRock Hospitality Co. | 440,655 | 4,115,718 |
Park Hotels & Resorts, Inc. | 397,025 | 5,193,087 |
Pebblebrook Hotel Trust | 77,182 | 1,237,999 |
Sunstone Hotel Investors, Inc. | 338,998 | 3,779,828 |
Xenia Hotels & Resorts, Inc. | 211,278 | 3,608,628 |
17,935,260 | ||
Industrial Properties 12.3% | ||
First Industrial Realty Trust, Inc. | 108,900 | 5,186,907 |
Prologis, Inc. | 269,450 | 29,841,587 |
Rexford Industrial Realty, Inc. | 110,027 | 6,082,293 |
41,110,787 | ||
Net Lease Properties 12.5% | ||
Broadstone Net Lease, Inc. | 260,973 | 4,473,077 |
Four Corners Property Trust, Inc. | 163,213 | 4,181,517 |
Getty Realty Corp. | 121,209 | 3,816,871 |
Iron Mountain, Inc. | 116,153 | 5,815,781 |
NETSTREIT Corp. (a) | 242,315 | 4,560,368 |
Realty Income Corp. | 62,582 | 3,896,981 |
Spirit Realty Capital, Inc. | 192,855 | 7,488,560 |
STAG Industrial, Inc. | 246,579 | 7,789,431 |
42,022,586 | ||
Office Buildings 2.4% | ||
Hudson Pacific Properties, Inc. | 351,673 | 3,882,470 |
Piedmont Office Realty Trust, Inc., Class A | 386,689 | 4,040,900 |
7,923,370 | ||
Residential 18.7% | ||
Apartment Income REIT Corp. | 86,563 | 3,326,616 |
AvalonBay Communities, Inc. | 48,025 | 8,410,138 |
Camden Property Trust | 84,536 | 9,768,135 |
Essex Property Trust, Inc. | 31,951 | 7,100,790 |
Shares | Value | ||
Residential (continued) | |||
Independence Realty Trust, Inc. | 230,716 | $ 3,866,800 | |
Invitation Homes, Inc. | 326,990 | 10,362,313 | |
NexPoint Residential Trust, Inc. | 44,474 | 2,028,014 | |
Sun Communities, Inc. | 99,763 | 13,453,041 | |
Tricon Residential, Inc. | 535,236 | 4,512,040 | |
62,827,887 | |||
Self Storage Property 11.6% | |||
CubeSmart | 388,482 | 16,265,741 | |
Extra Space Storage, Inc. | 71,345 | 12,659,457 | |
Life Storage, Inc. | 91,162 | 10,083,429 | |
39,008,627 | |||
Technology Datacenters 10.1% | |||
Digital Realty Trust, Inc. | 100,089 | 10,033,922 | |
Equinix, Inc. | 41,995 | 23,787,647 | |
33,821,569 | |||
Technology Towers 12.2% | |||
American Tower Corp. | 88,402 | 18,316,011 | |
Crown Castle, Inc. | 169,393 | 22,573,311 | |
40,889,322 | |||
Total Common Stocks (Cost $341,262,912) | 333,981,133 | ||
Short-Term Investments 0.5% | |||
Affiliated Investment Company 0.4% | |||
MainStay U.S. Government Liquidity Fund, 2.905% (b) | 1,452,230 | 1,452,230 | |
Unaffiliated Investment Company 0.1% | |||
Invesco Government & Agency Portfolio, 3.163% (b)(c) | 288,893 | 288,893 | |
Total Short-Term Investments (Cost $1,741,123) | 1,741,123 | ||
Total Investments (Cost $343,004,035) | 100.2% | 335,722,256 | |
Other Assets, Less Liabilities | (0.2) | (659,871) | |
Net Assets | 100.0% | $ 335,062,385 |
† | Percentages indicated are based on Fund net assets. |
(a) | All or a portion of this security was held on loan. As of October 31, 2022, the aggregate market value of securities on loan was $283,100. The Fund received cash collateral with a value of $288,893. (See Note 2(H)) |
(b) | Current yield as of October 31, 2022. |
10 | MainStay CBRE Real Estate Fund |
(c) | Represents a security purchased with cash collateral received for securities on loan. |
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 |
MainStay U.S. Government Liquidity Fund | $ 2,238 | $ 43,202 | $ (43,988) | $ — | $ — | $ 1,452 | $ 14 | $ — | 1,452 |
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 | $ 333,981,133 | $ — | $ — | $ 333,981,133 | |||
Short-Term Investments | |||||||
Affiliated Investment Company | 1,452,230 | — | — | 1,452,230 | |||
Unaffiliated Investment Company | 288,893 | — | — | 288,893 | |||
Total Short-Term Investments | 1,741,123 | — | — | 1,741,123 | |||
Total Investments in Securities | $ 335,722,256 | $ — | $ — | $ 335,722,256 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
Assets | |
Investment in unaffiliated securities, at value (identified cost $341,551,805) including securities on loan of $283,100 | $334,270,026 |
Investment in affiliated investment companies, at value (identified cost $1,452,230) | 1,452,230 |
Cash | 73 |
Receivables: | |
Investment securities sold | 465,634 |
Dividends | 205,835 |
Fund shares sold | 156,465 |
Other assets | 37,909 |
Total assets | 336,588,172 |
Liabilities | |
Cash collateral received for securities on loan | 288,893 |
Payables: | |
Investment securities purchased | 393,093 |
Fund shares redeemed | 364,682 |
Manager (See Note 3) | 136,478 |
Transfer agent (See Note 3) | 100,758 |
Shareholder communication | 89,597 |
Professional fees | 73,810 |
NYLIFE Distributors (See Note 3) | 34,442 |
Custodian | 6,258 |
Trustees | 216 |
Accrued expenses | 37,560 |
Total liabilities | 1,525,787 |
Net assets | $335,062,385 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $ 29,131 |
Additional paid-in-capital | 259,873,108 |
259,902,239 | |
Total distributable earnings (loss) | 75,160,146 |
Net assets | $335,062,385 |
Class A | |
Net assets applicable to outstanding shares | $145,421,868 |
Shares of beneficial interest outstanding | 13,872,229 |
Net asset value per share outstanding | $ 10.48 |
Maximum sales charge (5.50% of offering price) | 0.61 |
Maximum offering price per share outstanding | $ 11.09 |
Investor Class | |
Net assets applicable to outstanding shares | $ 175,703 |
Shares of beneficial interest outstanding | 16,778 |
Net asset value per share outstanding | $ 10.47 |
Maximum sales charge (5.00% of offering price) | 0.55 |
Maximum offering price per share outstanding | $ 11.02 |
Class C | |
Net assets applicable to outstanding shares | $ 4,645,637 |
Shares of beneficial interest outstanding | 392,495 |
Net asset value and offering price per share outstanding | $ 11.84 |
Class I | |
Net assets applicable to outstanding shares | $166,062,255 |
Shares of beneficial interest outstanding | 13,316,867 |
Net asset value and offering price per share outstanding | $ 12.47 |
Class R3 | |
Net assets applicable to outstanding shares | $ 1,767,408 |
Shares of beneficial interest outstanding | 170,198 |
Net asset value and offering price per share outstanding | $ 10.38 |
Class R6 | |
Net assets applicable to outstanding shares | $ 16,989,514 |
Shares of beneficial interest outstanding | 1,362,260 |
Net asset value and offering price per share outstanding | $ 12.47 |
12 | MainStay CBRE Real Estate Fund |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated (net of foreign tax withholding of $8,555) | $ 7,432,237 |
Dividends-affiliated | 14,262 |
Securities lending, net | 1,586 |
Total income | 7,448,085 |
Expenses | |
Manager (See Note 3) | 1,488,321 |
Transfer agent (See Note 3) | 461,244 |
Distribution/Service—Class A (See Note 3) | 206,272 |
Distribution/Service—Investor Class (See Note 3) | 242 |
Distribution/Service—Class C (See Note 3) | 29,816 |
Distribution/Service—Class R3 (See Note 3) | 5,499 |
Registration | 48,976 |
Shareholder communication | 47,235 |
Professional fees | 28,472 |
Custodian | 9,484 |
Trustees | 4,761 |
Shareholder service (See Note 3) | 1,100 |
Miscellaneous | 13,851 |
Total expenses before waiver/reimbursement | 2,345,273 |
Expense waiver/reimbursement from Manager (See Note 3) | (378,302) |
Net expenses | 1,966,971 |
Net investment income (loss) | 5,481,114 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on: | |
Unaffiliated investment transactions | (8,636,786) |
Foreign currency transactions | (1,976) |
Net realized gain (loss) | (8,638,762) |
Net change in unrealized appreciation (depreciation) on: | |
Unaffiliated investments | (84,645,487) |
Translation of other assets and liabilities in foreign currencies | (13,626) |
Net change in unrealized appreciation (depreciation) | (84,659,113) |
Net realized and unrealized gain (loss) | (93,297,875) |
Net increase (decrease) in net assets resulting from operations | $(87,816,761) |
for the six months ended October 31, 2022 (Unaudited) and the year ended April 30, 2022
Six months ended October 31, 2022 | Year ended April 30, 2022 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $ 5,481,114 | $ 5,229,744 |
Net realized gain (loss) | (8,638,762) | 111,598,258 |
Net change in unrealized appreciation (depreciation) | (84,659,113) | (62,634,172) |
Net increase (decrease) in net assets resulting from operations | (87,816,761) | 54,193,830 |
Distributions to shareholders: | ||
Class A | (4,429,069) | (5,974,725) |
Investor Class | (5,335) | (6,177) |
Class C | (117,542) | (157,619) |
Class I | (4,958,293) | (6,879,898) |
Class R3 | (57,072) | (77,566) |
Class R6 | (475,521) | (612,169) |
Total distributions to shareholders | (10,042,832) | (13,708,154) |
Capital share transactions: | ||
Net proceeds from sales of shares | 25,306,137 | 107,349,432 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 9,436,394 | 12,708,131 |
Cost of shares redeemed | (69,157,348) | (101,363,518) |
Increase (decrease) in net assets derived from capital share transactions | (34,414,817) | 18,694,045 |
Net increase (decrease) in net assets | (132,274,410) | 59,179,721 |
Net Assets | ||
Beginning of period | 467,336,795 | 408,157,074 |
End of period | $ 335,062,385 | $ 467,336,795 |
14 | MainStay CBRE Real Estate Fund |
Six months ended October 31, 2022* | 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 | $ 13.38 | $ 12.20 | $ 8.97 | $ 12.32 | $ 14.43 | $ 17.81 | $ 19.40 | ||||||
Net investment income (loss) (a) | 0.15 | 0.13 | 0.16 | 0.18 | 0.21 | 0.28 | 0.19 | ||||||
Net realized and unrealized gain (loss) | (2.73) | 1.47 | 3.59 | (1.52) | 1.29 | (0.07) | (0.26) | ||||||
Total from investment operations | (2.58) | 1.60 | 3.75 | (1.34) | 1.50 | 0.21 | (0.07) | ||||||
Less distributions: | |||||||||||||
From net investment income | (0.32) | (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 | (0.32) | (0.42) | (0.52) | (2.01) | (3.61) | (3.59) | (1.52) | ||||||
Net asset value at end of period | $ 10.48 | $ 13.38 | $ 12.20 | $ 8.97 | $ 12.32 | $ 14.43 | $ 17.81 | ||||||
Total investment return (b) | (19.39)% | 13.06% | 42.72% | (13.80)% | 12.73% | 0.23% | (0.36)% | ||||||
Ratios (to average net assets)/Supplemental Data: | |||||||||||||
Net investment income (loss) | 2.57%†† | 0.96% | 1.64% | 1.69%†† | 1.58% | 1.69% | 1.02% | ||||||
Net expenses | 1.18%††(c) | 1.18%(c) | 1.18%(c) | 1.17%†† (c)(d) | 1.24% | 1.29% | 1.27% | ||||||
Expenses (before waiver/reimbursement) | 1.32%††(c) | 1.30%(c) | 1.45%(c) | 1.36%†† (c)(d) | 1.31% | 1.31% | 1.27% | ||||||
Portfolio turnover rate | 31% | 70% | 93% | 88% | 82% | 102% | 53% | ||||||
Net assets at end of period (in 000's) | $ 145,422 | $ 193,441 | $ 177,328 | $ 149,970 | $ 89,037 | $ 81,475 | $ 136,095 |
* | Unaudited. |
# | 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%. |
Six months ended October 31, 2022* | Year Ended April 30, | February 24, 2020^ through April 30, 2020 | |||||
Investor Class | 2022 | 2021 | |||||
Net asset value at beginning of period | $ 13.39 | $ 12.19 | $ 8.97 | $ 12.17 | |||
Net investment income (loss) (a) | 0.15 | 0.13 | 0.15 | (0.04) | |||
Net realized and unrealized gain (loss) | (2.74) | 1.48 | 3.58 | (3.10) | |||
Total from investment operations | (2.59) | 1.61 | 3.73 | (3.14) | |||
Less distributions: | |||||||
From net investment income | (0.33) | (0.23) | (0.20) | (0.06) | |||
From net realized gain on investments | — | (0.18) | — | — | |||
Return of capital | — | — | (0.31) | — | |||
Total distributions | (0.33) | (0.41) | (0.51) | (0.06) | |||
Net asset value at end of period | $ 10.47 | $ 13.39 | $ 12.19 | $ 8.97 | |||
Total investment return (b) | (19.43)% | 13.15% | 42.41% | (25.74)% | |||
Ratios (to average net assets)/Supplemental Data: | |||||||
Net investment income (loss) | 2.57%†† | 0.98% | 1.53% | (2.55)%†† | |||
Net expenses (c) | 1.20%†† | 1.15% | 1.26% | 1.35%†† | |||
Expenses (before waiver/reimbursement) (c) | 1.29%†† | 1.26% | 1.34% | 1.56%†† | |||
Portfolio turnover rate | 31% | 70% | 93% | 88% | |||
Net assets at end of period (in 000's) | $ 176 | $ 227 | $ 157 | $ 103 |
* | Unaudited. |
^ | 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 |
Six months ended October 31, 2022* | 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 | $ 15.05 | $ 13.66 | $ 9.96 | $ 13.47 | $ 15.44 | $ 18.80 | $ 20.38 | ||||||
Net investment income (loss) | 0.12(a) | 0.03(a) | 0.07(a) | 0.11(a) | 0.11 | 0.16(a) | 0.05(a) | ||||||
Net realized and unrealized gain (loss) | (3.07) | 1.66 | 4.02 | (1.71) | 1.42 | (0.08) | (0.28) | ||||||
Total from investment operations | (2.95) | 1.69 | 4.09 | (1.60) | 1.53 | 0.08 | (0.23) | ||||||
Less distributions: | |||||||||||||
From net investment income | (0.26) | (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 | (0.26) | (0.30) | (0.39) | (1.91) | (3.50) | (3.44) | (1.35) | ||||||
Net asset value at end of period | $ 11.84 | $ 15.05 | $ 13.66 | $ 9.96 | $ 13.47 | $ 15.44 | $ 18.80 | ||||||
Total investment return (b) | (19.67)% | 12.27% | 41.65% | (14.44)% | 11.90% | (0.50)% | (1.10)% | ||||||
Ratios (to average net assets)/Supplemental Data: | |||||||||||||
Net investment income (loss) | 1.83%†† | 0.22% | 0.66% | 1.00%†† | 0.85% | 0.90% | 0.27% | ||||||
Net expenses | 1.93%††(c) | 1.91%(c) | 1.93%(c) | 1.92%†† (c)(d) | 1.99% | 2.04% | 2.02% | ||||||
Expenses (before waiver/reimbursement) | 2.04%††(c) | 2.01%(c) | 2.09%(c) | 2.13%†† (c)(d) | 2.06% | 2.06% | 2.02% | ||||||
Portfolio turnover rate | 31% | 70% | 93% | 88% | 82% | 102% | 53% | ||||||
Net assets at end of period (in 000's) | $ 4,646 | $ 7,220 | $ 10,202 | $ 20,942 | $ 11,216 | $ 13,449 | $ 22,084 |
* | Unaudited. |
# | 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%. |
Six months ended October 31, 2022* | 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 | $ 15.85 | $ 14.37 | $ 10.49 | $ 14.08 | $ 15.99 | $ 19.36 | $ 20.95 | ||||||
Net investment income (loss) (a) | 0.20 | 0.21 | 0.22 | 0.24 | 0.30 | 0.37 | 0.28 | ||||||
Net realized and unrealized gain (loss) | (3.24) | 1.74 | 4.22 | (1.79) | 1.45 | (0.09) | (0.28) | ||||||
Total from investment operations | (3.04) | 1.95 | 4.44 | (1.55) | 1.75 | 0.28 | — | ||||||
Less distributions: | |||||||||||||
From net investment income | (0.34) | (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 | (0.34) | (0.47) | (0.56) | (2.04) | (3.66) | (3.65) | (1.59) | ||||||
Net asset value at end of period | $ 12.47 | $ 15.85 | $ 14.37 | $ 10.49 | $ 14.08 | $ 15.99 | $ 19.36 | ||||||
Total investment return (b) | (19.26)% | 13.51% | 43.19% | (13.54)% | 13.08% | 0.63% | 0.04% | ||||||
Ratios (to average net assets)/Supplemental Data: | |||||||||||||
Net investment income (loss) | 2.92%†† | 1.32% | 1.92% | 2.01%†† | 1.95% | 2.02% | 1.37% | ||||||
Net expenses | 0.83%††(c) | 0.83%(c) | 0.83%(c) | 0.84%†† (c)(d) | 0.91% | 0.91% | 0.90% | ||||||
Expenses (before waiver/reimbursement) | 1.07%††(c) | 1.05%(c) | 1.20%(c) | 1.04%†† (c)(d) | 0.97% | 0.92% | 0.90% | ||||||
Portfolio turnover rate | 31% | 70% | 93% | 88% | 82% | 102% | 53% | ||||||
Net assets at end of period (in 000's) | $ 166,062 | $ 241,719 | $ 202,597 | $ 232,730 | $ 166,056 | $ 311,814 | $ 723,538 |
* | Unaudited. |
# | 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 |
Six months ended October 31, 2022* | 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 | $ 13.26 | $ 12.09 | $ 8.89 | $ 12.23 | $ 14.35 | $ 17.73 | $ 19.33 | ||||||
Net investment income (loss) | 0.14(a) | 0.10(a) | 0.11(a) | 0.15(a) | 0.18 | 0.23(a) | 0.15 | ||||||
Net realized and unrealized gain (loss) | (2.72) | 1.46 | 3.59 | (1.51) | 1.28 | (0.06) | (0.27) | ||||||
Total from investment operations | (2.58) | 1.56 | 3.70 | (1.36) | 1.46 | 0.17 | (0.12) | ||||||
Less distributions: | |||||||||||||
From net investment income | (0.30) | (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 | (0.30) | (0.39) | (0.50) | (1.98) | (3.58) | (3.55) | (1.48) | ||||||
Net asset value at end of period | $ 10.38 | $ 13.26 | $ 12.09 | $ 8.89 | $ 12.23 | $ 14.35 | $ 17.73 | ||||||
Total investment return (b) | (19.54)% | 12.83% | 42.47% | (14.04)% | 12.43% | —% | (0.63)% | ||||||
Ratios (to average net assets)/Supplemental Data: | |||||||||||||
Net investment income (loss) | 2.34%†† | 0.72% | 1.14% | 1.42%†† | 1.36% | 1.43% | 0.77% | ||||||
Net expenses | 1.43%††(c) | 1.43%(c) | 1.43%(c) | 1.42%†† (c)(d) | 1.49% | 1.54% | 1.52% | ||||||
Expenses (before waiver/reimbursement) | 1.67%††(c) | 1.65%(c) | 1.80%(c) | 1.61%†† (c)(d) | 1.56% | 1.56% | 1.52% | ||||||
Portfolio turnover rate | 31% | 70% | 93% | 88% | 82% | 102% | 53% | ||||||
Net assets at end of period (in 000's) | $ 1,767 | $ 2,672 | $ 2,298 | $ 2,527 | $ 2,454 | $ 2,965 | $ 4,448 |
* | Unaudited. |
# | 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%. |
Six months ended October 31, 2022* | 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 | $ 15.85 | $ 14.37 | $ 10.49 | $ 14.09 | $ 15.99 | $ 19.36 | $ 20.96 | ||||||
Net investment income (loss) | 0.21(a) | 0.22(a) | 0.09(a) | 0.26(a) | 0.32 | 0.37(a) | 0.30(a) | ||||||
Net realized and unrealized gain (loss) | (3.24) | 1.74 | 4.36 | (1.80) | 1.45 | (0.08) | (0.30) | ||||||
Total from investment operations | (3.03) | 1.96 | 4.45 | (1.54) | 1.77 | 0.29 | 0.00‡ | ||||||
Less distributions: | |||||||||||||
From net investment income | (0.35) | (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 | (0.35) | (0.48) | (0.57) | (2.06) | (3.67) | (3.66) | (1.60) | ||||||
Net asset value at end of period | $ 12.47 | $ 15.85 | $ 14.37 | $ 10.49 | $ 14.09 | $ 15.99 | $ 19.36 | ||||||
Total investment return (b) | (19.22)% | 13.61% | 43.35% | (13.53)% | 13.24% | 0.69% | 0.03% | ||||||
Ratios (to average net assets)/Supplemental Data: | |||||||||||||
Net investment income (loss) | 3.02%†† | 1.40% | 0.80% | 2.06%†† | 2.05% | 2.12% | 1.47% | ||||||
Net expenses | 0.74%††(c) | 0.74%(c) | 0.74%(c) | 0.76%†† (c)(d) | 0.83% | 0.86% | 0.86% | ||||||
Expenses (before waiver/reimbursement) | 0.83%††(c) | 0.84%(c) | 0.84%(c) | 0.88%†† (c)(d) | 0.89% | 0.86% | 0.86% | ||||||
Portfolio turnover rate | 31% | 70% | 93% | 88% | 82% | 102% | 53% | ||||||
Net assets at end of period (in 000's) | $ 16,990 | $ 22,058 | $ 15,574 | $ 56,250 | $ 79,327 | $ 79,646 | $ 42,574 |
* | Unaudited. |
# | 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. |
• | Level 1—quoted prices (unadjusted) in active markets for an identical asset or liability |
• | Level 2—other significant observable inputs (including quoted prices for a similar asset or liability in active markets, interest rates and yield curves, prepayment speeds, credit risk, etc.) |
• | Level 3—significant unobservable inputs (including the Fund's own assumptions about the assumptions that market participants would use in measuring fair value of an asset or liability) |
• 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 | $1,100 |
Class | Expense | Waived |
Class A | $202,361 | $— |
Investor Class | 203 | — |
Class C | 6,234 | — |
Class I | 249,384 | — |
Class R3 | 2,678 | — |
Class R6 | 384 | — |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $344,348,313 | $38,844,425 | $(47,470,482) | $(8,626,057) |
2022 | |
Distributions paid from: | |
Ordinary Income | $ 8,176,041 |
Long-Term Capital Gains | 5,532,113 |
Total | $13,708,154 |
Class A | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 500,726 | $ 5,768,158 |
Shares issued to shareholders in reinvestment of distributions | 376,677 | 4,156,765 |
Shares redeemed | (1,457,843) | (17,032,773) |
Net increase (decrease) in shares outstanding before conversion | (580,440) | (7,107,850) |
Shares converted into Class A (See Note 1) | 818 | 9,362 |
Shares converted from Class A (See Note 1) | (2,209) | (24,915) |
Net increase (decrease) | (581,831) | $ (7,123,403) |
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) |
26 | MainStay CBRE Real Estate Fund |
Investor Class | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 1,251 | $ 14,649 |
Shares issued to shareholders in reinvestment of distributions | 485 | 5,335 |
Shares redeemed | (2,570) | (29,449) |
Net increase (decrease) in shares outstanding before conversion | (834) | (9,465) |
Shares converted into Investor Class (See Note 1) | 619 | 7,429 |
Net increase (decrease) | (215) | $ (2,036) |
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 |
Class C | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 5,028 | $ 69,174 |
Shares issued to shareholders in reinvestment of distributions | 9,344 | 117,181 |
Shares redeemed | (100,316) | (1,272,683) |
Net increase (decrease) in shares outstanding before conversion | (85,944) | (1,086,328) |
Shares converted from Class C (See Note 1) | (1,276) | (16,791) |
Net increase (decrease) | (87,220) | $ (1,103,119) |
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) |
Class I | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 1,234,591 | $ 17,270,539 |
Shares issued to shareholders in reinvestment of distributions | 358,844 | 4,710,901 |
Shares redeemed | (3,531,757) | (47,406,938) |
Net increase (decrease) in shares outstanding before conversion | (1,938,322) | (25,425,498) |
Shares converted into Class I (See Note 1) | 1,861 | 24,915 |
Net increase (decrease) | (1,936,461) | $(25,400,583) |
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 |
Class R3 | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 9,923 | $ 115,536 |
Shares issued to shareholders in reinvestment of distributions | 4,926 | 54,128 |
Shares redeemed | (46,179) | (545,739) |
Net increase (decrease) | (31,330) | $ (376,075) |
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 |
Class R6 | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 150,060 | $ 2,068,081 |
Shares issued to shareholders in reinvestment of distributions | 29,970 | 392,084 |
Shares redeemed | (209,447) | (2,869,766) |
Net increase (decrease) | (29,417) | $ (409,601) |
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 |
28 | MainStay CBRE Real Estate Fund |
1.
2. | This Fund is registered for sale in AZ, CA, NV, OR, TX, UT, WA and MI (Class A and Class I shares only), and CO, FL, GA, HI, ID, MA, MD, NH, NJ and NY (Class I shares only). |
3. | This Fund is registered for sale in CA, CT, DE, FL, MA, NJ, NY and VT. |
4. | An affiliate of New York Life Investment Management LLC. |
5013903.2MS229-22 | MSCBRE10-12/22 |
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 |
President
Average Annual Total Returns for the Period-Ended October 31, 2022 | ||||||||
Class | Sales Charge | Inception Date1 | Six Months2 | One Year | Five Years | Ten Years or Since Inception | Gross Expense Ratio3 | |
Class A Shares | Maximum 1% Initial Sales Charge | With sales charges | 1/2/2004 | -2.55% | -6.13% | -0.11% | N/A | 0.67% |
Excluding sales charges | -1.57 | -5.18 | 0.09 | 0.30% | 0.67 | |||
Class A2 Shares | Maximum 2% Initial Sales Charge | With sales charges | 9/30/2020 | -3.43 | -6.97 | N/A | -3.11 | 0.67 |
Excluding sales charges | -1.46 | -5.07 | N/A | -2.16 | 0.67 | |||
Investor Class Shares4, 5 | Maximum .5% Initial Sales Charge | With sales charges | 2/28/2008 | -2.11 | -5.96 | -0.47 | -0.37 | 1.24 |
Excluding sales charges | -1.62 | -5.48 | -0.27 | -0.07 | 1.24 | |||
Class I Shares | No Sales Charge | 1/2/1991 | -1.43 | -4.92 | 0.37 | 0.57 | 0.42 | |
Class R6 Shares | No Sales Charge | 5/2/2022 | N/A | N/A | N/A | -1.33 | 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. | Not annualized. |
3. | 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. |
4. | Prior to June 1, 2015, the maximum initial sales charge was 3.0%, which is reflected in the average annual total return figures shown. |
5. | 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* | Six Months1 | One Year | Five Years | Ten Years |
Bloomberg 3-Year Municipal Bond Index2 | -0.92% | -5.35% | 0.48% | 0.85% |
Morningstar Muni National Short Category Average3 | -0.89 | -4.12 | 0.44 | 0.61 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
1. | Not annualized. |
2. | The Bloomberg 3-Year Municipal Bond Index is the Fund's primary broad-based securities-market index for comparison purposes. The Bloomberg 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. |
3. | 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 5/1/22 | Ending Account Value (Based on Actual Returns and Expenses) 10/31/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 10/31/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $984.30 | $3.40 | $1,021.78 | $3.47 | 0.68% |
Class A2 Shares | $1,000.00 | $985.40 | $3.40 | $1,021.78 | $3.47 | 0.68% |
Investor Class Shares | $1,000.00 | $983.80 | $5.00 | $1,020.16 | $5.09 | 1.00% |
Class I Shares | $1,000.00 | $985.70 | $2.00 | $1,023.19 | $2.04 | 0.40% |
Class R6 Shares 3, 4 | $1,000.00 | $986.70 | $1.98 | $1,022.94 | $2.02 | 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 184 (to reflect the six-month period) and 182 days for Class R6 (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. |
3. | Expenses paid during the period reflect ongoing costs for the period from inception through October 31, 2022. Had these shares been offered for the full six-month period ended October 31, 2022, and had the Fund provided a hypothetical 5% annualized return, expenses paid during the period would have been $2.04 for Class R6 shares and the ending account value would have been $1,023.19 for Class R6 shares. |
4. | The inception date was May 2, 2022. |
1. | Black Belt Energy Gas District, 2.59%-5.50%, due 10/1/49–11/1/53 |
2. | Metropolitan Transportation Authority, 1.60%-5.25%, due 2/1/23–11/15/50 |
3. | State of Illinois, 5.00%-6.00%, due 7/1/23–11/1/29 |
4. | New York Transportation Development Corp., 5.00%, due 1/1/23–12/1/30 |
5. | Louisiana Stadium & Exposition District, 1.872%-5.00%, due 7/1/23–7/3/23 |
6. | Southeast Energy Authority, (zero coupon)-4.00%, due 10/1/26–1/1/53 |
7. | Matching Fund Special Purpose Securitization Corp., 5.00%, due 10/1/25–10/1/26 |
8. | County of King WA, 2.47%, due 1/1/40 |
9. | California Infrastructure and Economic Development Bank, 0.85%, due 1/1/50 |
10. | Compton Community Redevelopment Agency, 5.00%-5.25%, due 8/1/23–8/1/32 |
8 | MainStay MacKay Short Term Municipal Fund |
1. | See page 5 for other share class returns, which may be higher or lower than Class I share returns. See page 6 for more information on benchmark and peer group returns. |
2. | An obligation rated ‘AAA’ has the highest rating assigned by Standard & Poor’s (“S&P”), and in the opinion of S&P, the obligor’s capacity to meet its financial commitment on the obligation is extremely strong. An obligation rated ‘AA’ by S&P is deemed by S&P to differ from the highest-rated obligations only to a small degree. In the opinion of S&P, the obligor's capacity to meet its financial commitment on the obligation is very strong. When applied to Fund holdings, ratings are based solely on the creditworthiness of the bonds in the portfolio and are not meant to represent the security or safety of the Fund. |
3. | Duration is a measure of the price sensitivity of a fixed-income investment to changes in interest rates. Duration is expressed as a number of years and is considered a more accurate sensitivity gauge than average maturity. |
4. | Modified duration is inversely related to the approximate percentage change in price for a given change in yield. Duration to worst is the duration of a bond computed using the bond’s nearest call date or maturity, whichever comes first. This measure ignores future cash flow fluctuations due to embedded optionality. |
5. | An obligation rated ‘BBB’ by S&P is deemed by S&P to exhibit adequate protection parameters. In the opinion of S&P, however, adverse economic conditions or changing circumstances are more likely to lead to a weakened capacity of the obligor to meet its financial commitment on the obligation. When applied to Fund holdings, ratings are based solely on the creditworthiness of the bonds in the portfolio and are not meant to represent the security or safety of the Fund. |
10 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Municipal Bonds 95.9% | ||
Long-Term Municipal Bonds 76.1% | ||
Alabama 4.9% | ||
Alabama Community College System, Revenue Bonds | ||
Insured: BAM | ||
3.00%, due 6/1/24 | $ 100,000 | $ 99,255 |
Alabama Community College System, Enhancements Fee, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 9/1/24 | 40,000 | 40,252 |
Alabama Community College System, Wallace State Community College-Hanceville, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 11/1/26 | 260,000 | 262,591 |
Insured: BAM | ||
4.00%, due 11/1/27 | 365,000 | 369,334 |
Insured: BAM | ||
4.00%, due 11/1/28 | 260,000 | 263,892 |
Birmingham Airport Authority, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 7/1/23 | 125,000 | 126,320 |
Insured: BAM | ||
5.00%, due 7/1/24 | 625,000 | 640,189 |
Black Belt Energy Gas District, Project No.5, Revenue Bonds | ||
Series A-1 | ||
4.00%, due 10/1/49 (a) | 10,000,000 | 9,607,882 |
Black Belt Energy Gas District, Gas Project No.6, Revenue Bonds | ||
Series B | ||
4.00%, due 10/1/52 (a) | 3,500,000 | 3,370,363 |
Black Belt Energy Gas District, Gas Project No.7, Revenue Bonds | ||
Series C-1 | ||
4.00%, due 10/1/52 (a) | 2,500,000 | 2,407,402 |
Black Belt Energy Gas District, Revenue Bonds (a) | ||
Series B-1 | ||
4.00%, due 4/1/53 | 13,920,000 | 13,212,501 |
Series F | ||
5.50%, due 11/1/53 | 10,000,000 | 10,105,379 |
City of Bessemer AL, Limited General Obligation | ||
Series C, Insured: AGM | ||
4.00%, due 2/1/23 | 425,000 | 425,730 |
Principal Amount | Value | |
Alabama (continued) | ||
City of Bessemer AL, Limited General Obligation (continued) | ||
Series C, Insured: AGM | ||
4.00%, due 2/1/26 | $ 305,000 | $ 309,940 |
Coosa Valley Water Supply District, Inc., Revenue Bonds | ||
4.00%, due 10/1/26 | 200,000 | 203,561 |
County of Dallas AL, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
(zero coupon), due 5/1/23 | 135,000 | 131,420 |
Series B, Insured: AGM | ||
(zero coupon), due 5/1/24 | 300,000 | 276,147 |
Series A, Insured: AGM | ||
(zero coupon), due 5/1/25 | 270,000 | 235,053 |
County of Lowndes AL, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 2/1/25 | 540,000 | 542,508 |
Greenville Waterworks & Sewer Board, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 3/1/27 | 205,000 | 208,289 |
Lower Alabama Gas District (The), Gas Project, Project No. 2, Revenue Bonds | ||
4.00%, due 12/1/22 | 350,000 | 349,867 |
4.00%, due 12/1/23 | 750,000 | 745,172 |
Prichard Water Works & Sewer Board, Revenue Bonds | ||
5.00%, due 11/1/22 | 415,000 | 415,000 |
Southeast Alabama Gas Supply District, Project No. 1, Revenue Bonds | ||
Series A | ||
5.00%, due 4/1/24 | 1,500,000 | 1,501,763 |
Southeast Alabama Gas Supply District (The), Project No. 2, Revenue Bonds | ||
Series A | ||
4.00%, due 6/1/23 | 255,000 | 253,996 |
Southeast Energy Authority, A Cooperative District, Project No. 3, Revenue Bonds | ||
Series A-1 | ||
(zero coupon), due 1/1/53 | 10,000,000 | 10,113,908 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Alabama (continued) | ||
Southeast Energy Authority, A Cooperative District, Project No. 1, Revenue Bonds | ||
Series A | ||
4.00%, due 10/1/26 | $ 1,400,000 | $ 1,350,814 |
Series A | ||
4.00%, due 10/1/27 | 2,975,000 | 2,832,302 |
Series A | ||
4.00%, due 11/1/51 (a) | 4,635,000 | 4,329,043 |
Southeast Energy Authority, A Cooperative District, Project No. 2, Revenue Bonds | ||
Series B | ||
4.00%, due 12/1/51 (a) | 1,190,000 | 1,072,035 |
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 | 725,498 |
University of West Alabama, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 1/1/23 | 125,000 | 125,120 |
Insured: AGM | ||
4.00%, due 1/1/24 | 100,000 | 100,598 |
Insured: AGM | ||
4.00%, due 1/1/25 | 150,000 | 150,367 |
Insured: AGM | ||
5.00%, due 1/1/26 | 180,000 | 185,530 |
67,089,021 | ||
Alaska 0.6% | ||
Alaska Industrial Development & Export Authority, Tanana Chiefs Conference Project, Revenue Bonds | ||
5.00%, due 10/1/23 | 585,000 | 591,993 |
Northern Tobacco Securitization Corp., Tobacco Settlement Asset-Backed, Revenue Bonds, Senior Lien | ||
Series B1, Class 2 | ||
0.50%, due 6/1/31 | 115,000 | 113,202 |
State of Alaska International Airports System, Revenue Bonds (b) | ||
Series C | ||
5.00%, due 10/1/27 | 3,030,000 | 3,128,972 |
Principal Amount | Value | |
Alaska (continued) | ||
State of Alaska International Airports System, Revenue Bonds (b) (continued) | ||
Series C | ||
5.00%, due 10/1/29 | $ 3,600,000 | $ 3,715,922 |
7,550,089 | ||
Arizona 0.0% ‡ | ||
City of Phoenix AZ, Downtown Phoenix Student Housing LLC, Revenue Bonds | ||
5.00%, due 7/1/23 | 50,000 | 50,191 |
Sedona Wastewater Municipal Property Corp., Capital Appreciation, Revenue Bonds | ||
Insured: NATL-RE | ||
(zero coupon), due 7/1/24 | 500,000 | 468,181 |
518,372 | ||
Arkansas 0.1% | ||
City of West Memphis AR, Public Utility System, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 12/1/26 | 190,000 | 193,000 |
North Little Rock School District No. 1, Limited General Obligation | ||
Insured: State Aid Withholding | ||
5.00%, due 2/1/26 | 1,400,000 | 1,473,668 |
1,666,668 | ||
California 6.1% | ||
Alameda Unified School District-Alameda County, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
(zero coupon), due 8/1/26 | 330,000 | 287,265 |
Alta Loma School District, Unlimited General Obligation | ||
Series B, Insured: NATL-RE | ||
(zero coupon), due 8/1/25 | 200,000 | 180,212 |
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 | 269,591 |
12 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
California County Tobacco Securitization Agency, Tobacco Settlement, Revenue Bonds, Senior Lien | ||
Series A | ||
5.00%, due 6/1/24 | $ 450,000 | $ 458,818 |
California Educational Facilities Authority, Art Center College of Design, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/22 | 200,000 | 200,188 |
California Health Facilities Financing Authority, Lundquist Institute For Biomedical Innovation, Revenue Bonds | ||
4.00%, due 9/1/23 | 310,000 | 310,987 |
California Municipal Finance Authority, CHF-Davis I LLC - West Village Student Housing Project, Revenue Bonds | ||
5.00%, due 5/15/23 | 1,520,000 | 1,526,514 |
5.00%, due 5/15/24 | 1,200,000 | 1,212,337 |
California Municipal Finance Authority, LINXS APM Project, Revenue Bonds, Senior Lien (b) | ||
5.00%, due 12/31/23 | 1,400,000 | 1,414,604 |
5.00%, due 6/30/25 | 685,000 | 698,327 |
California School Finance Authority, Kipp SoCal Public Schools Project, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/25 (c) | 55,000 | 55,836 |
Central Basin Municipal Water District, Revenue Bonds | ||
Series B, Insured: BAM | ||
1.936%, due 8/1/24 | 600,000 | 569,421 |
Chino Basin Regional Financing Authority, Revenue Bonds | ||
Series B | ||
4.00%, due 11/1/25 | 2,665,000 | 2,717,541 |
City of Fresno CA, Airport, Revenue Bonds | ||
Series B | ||
5.00%, due 7/1/23 (b) | 690,000 | 695,474 |
City of Los Angeles CA, Department of Airports, Revenue Bonds | ||
5.00%, due 5/15/24 (b) | 500,000 | 508,823 |
Principal Amount | Value | |
California (continued) | ||
City of Montebello CA, Revenue Bonds | ||
Insured: AGM | ||
2.173%, due 6/1/23 | $ 2,000,000 | $ 1,963,595 |
City of Palm Springs CA, Airport Passenger Facility Charge, Revenue Bonds (b) | ||
Insured: BAM | ||
5.00%, due 6/1/25 | 925,000 | 944,118 |
Insured: BAM | ||
5.00%, due 6/1/28 | 655,000 | 664,490 |
City of Sacramento CA, Transient Occupancy Tax, Revenue Bonds | ||
5.00%, due 6/1/23 | 850,000 | 856,460 |
Series C | ||
5.00%, due 6/1/25 | 495,000 | 509,875 |
Series A | ||
5.00%, due 6/1/26 | 1,375,000 | 1,433,326 |
Series C | ||
5.00%, due 6/1/26 | 500,000 | 520,018 |
City of Sacramento CA, Airport System, Revenue Bonds | ||
Series E | ||
5.00%, due 7/1/25 | 260,000 | 271,124 |
Compton Community College District, Election of 2002, Unlimited General Obligation | ||
Series D, Insured: BAM | ||
(zero coupon), due 8/1/36 | 2,825,000 | 1,159,109 |
Compton Community Redevelopment Agency, Tax Allocation | ||
Series A, Insured: AGM | ||
5.00%, due 8/1/23 | 1,000,000 | 1,009,949 |
Series A, Insured: AGM | ||
5.00%, due 8/1/24 | 1,625,000 | 1,660,750 |
Series A, Insured: AGM | ||
5.00%, due 8/1/25 | 4,090,000 | 4,213,584 |
Series A, Insured: AGM | ||
5.00%, due 8/1/26 | 7,045,000 | 7,320,907 |
Series A, Insured: AGM | ||
5.25%, due 8/1/32 | 2,345,000 | 2,530,621 |
El Camino Healthcare District, Capital Appreciation, Unlimited General Obligation | ||
Insured: NATL-RE | ||
(zero coupon), due 8/1/26 | 380,000 | 329,333 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
Foothill-Eastern Transportation Corridor Agency, Revenue Bonds, Senior Lien | ||
Series A | ||
(zero coupon), due 1/1/27 | $ 4,500,000 | $ 3,903,783 |
Golden West Schools Financing Authority, Revenue Bonds | ||
Series A, Insured: NATL-RE | ||
5.80%, due 2/1/23 | 115,000 | 115,678 |
Grossmont Union High School District, Election 2004, Unlimited General Obligation | ||
Insured: NATL-RE | ||
(zero coupon), due 8/1/26 | 1,905,000 | 1,649,179 |
Independent Cities Finance Authority, Sales Tax, Revenue Bonds (c) | ||
Insured: AGM | ||
4.00%, due 6/1/24 | 150,000 | 150,367 |
Insured: AGM | ||
4.00%, due 6/1/25 | 510,000 | 511,934 |
Insured: AGM | ||
4.00%, due 6/1/26 | 175,000 | 175,492 |
Los Angeles Department of Water & Power, Revenue Bonds | ||
Series C | ||
5.00%, due 7/1/25 | 450,000 | 463,735 |
Los Angeles Unified School District, Unlimited General Obligation | ||
Series C | ||
5.00%, due 7/1/23 | 2,000,000 | 2,026,005 |
Mammoth Unified School District, Unlimited General Obligation | ||
Insured: NATL-RE | ||
(zero coupon), due 8/1/26 | 280,000 | 244,278 |
Marysville Joint Unified School District, Energy Effeciency Projects, Green Bond, Certificate of Participation | ||
Insured: BAM | ||
4.00%, due 6/1/23 | 470,000 | 472,002 |
Insured: BAM | ||
4.00%, due 6/1/26 | 275,000 | 280,100 |
Mount Diablo Unified School District, Capital Appreciation, Election 2010, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 8/1/25 (d) | 445,000 | 461,511 |
Principal Amount | Value | |
California (continued) | ||
Norman Y Mineta San Jose International Airport SJC, Revenue Bonds | ||
Series A | ||
5.00%, due 3/1/24 (b) | $ 250,000 | $ 253,435 |
North Coast County Water District, Certificate of Participation | ||
Insured: AGM | ||
4.00%, due 10/1/24 | 90,000 | 91,153 |
Peninsula Corridor Joint Powers Board, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/23 | 585,000 | 593,576 |
River Islands Public Financing Authority, Community Facilities District No. 2003-1, Special Tax | ||
Series A-1, Insured: AGM | ||
5.00%, due 9/1/26 | 150,000 | 158,120 |
Series A-1, Insured: AGM | ||
5.00%, due 9/1/27 | 225,000 | 239,416 |
Riverside County Asset Leasing Corp., Riverside County Hospital Project, Revenue Bonds | ||
Insured: NATL-RE | ||
(zero coupon), due 6/1/25 | 2,205,000 | 2,005,152 |
Sacramento City Unified School District, Election of 2002, Unlimited General Obligation | ||
Insured: AGM | ||
(zero coupon), due 7/1/23 | 2,065,000 | 2,019,018 |
Sacramento City Unified School District, Unlimited General Obligation | ||
Series E | ||
5.00%, due 8/1/23 | 300,000 | 303,206 |
Insured: BAM | ||
5.00%, due 7/1/24 | 1,420,000 | 1,454,740 |
Insured: BAM | ||
5.00%, due 7/1/25 | 1,000,000 | 1,040,968 |
Insured: BAM | ||
5.00%, due 7/1/26 | 1,350,000 | 1,423,086 |
San Bernardino County Redevelopment Agency Successor Agency, Tax Allocation | ||
Series A, Insured: AGM | ||
1.057%, due 9/1/23 | 280,000 | 270,186 |
14 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
San Diego County Regional Airport Authority, Revenue Bonds (b) | ||
Series B | ||
5.00%, due 7/1/26 | $ 2,000,000 | $ 2,047,957 |
Series B | ||
5.00%, due 7/1/27 | 1,000,000 | 1,024,940 |
San Francisco City & County Airport Commission, San Francisco International Airport, Revenue Bonds, Second Series (b) | ||
Series D | ||
5.00%, due 5/1/25 | 210,000 | 214,471 |
Series H | ||
5.00%, due 5/1/25 | 2,730,000 | 2,788,120 |
San Joaquin Hills Transportation Corridor Agency, Toll Road, Revenue Bonds | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 1/15/25 | 1,000,000 | 910,942 |
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 | 961,034 |
San Ysidro School District, Capital Appreciation, Election 1997, Unlimited General Obligation | ||
Series D, Insured: NATL-RE | ||
(zero coupon), due 8/1/25 | 400,000 | 360,619 |
Santa Cruz City Elementary School District, Capital Appreciation, Election 1998, Unlimited General Obligation | ||
Insured: AGM | ||
(zero coupon), due 2/1/23 | 100,000 | 99,155 |
South Pasadena Unified School District, Unlimited General Obligation | ||
Series C, Insured: NATL-RE | ||
(zero coupon), due 5/1/24 | 700,000 | 663,748 |
State of California, Unlimited General Obligation | ||
Series CT | ||
0.35%, due 12/1/22 | 1,990,000 | 1,985,276 |
Principal Amount | Value | |
California (continued) | ||
State of California, Various Purpose, Unlimited General Obligation | ||
3.00%, due 11/1/30 | $ 5,500,000 | $ 4,703,505 |
Sweetwater Union High School District, Unlimited General Obligation | ||
Insured: BAM | ||
5.00%, due 8/1/26 | 365,000 | 374,713 |
Torrance Unified School District, Election of 2008, Unlimited General Obligation | ||
(zero coupon), due 8/1/27 | 2,500,000 | 2,051,346 |
(zero coupon), due 8/1/28 | 2,500,000 | 1,951,250 |
(zero coupon), due 8/1/29 | 4,500,000 | 3,328,652 |
(zero coupon), due 8/1/30 | 1,500,000 | 1,049,196 |
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 | 862,535 |
Upper Lake Union High School District, Unlimited General Obligation | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 8/1/23 | 255,000 | 248,126 |
Vacaville Unified School District, Unlimited General Obligation | ||
Series D | ||
4.00%, due 8/1/25 | 125,000 | 127,612 |
Victor Elementary School District, Unlimited General Obligation | ||
Series B, Insured: NATL-RE | ||
(zero coupon), due 8/1/27 | 350,000 | 290,651 |
Vista Unified School District, Capital Appreciation, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
(zero coupon), due 8/1/26 | 325,000 | 281,046 |
83,124,211 | ||
Colorado 1.3% | ||
City & County of Denver CO, Revenue Bonds | ||
Series A | ||
5.00%, due 11/15/22 (b) | 720,000 | 720,408 |
Series A | ||
5.00%, due 11/15/23 | 520,000 | 528,858 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Colorado (continued) | ||
City & County of Denver CO, Revenue Bonds (continued) | ||
Series B1 | ||
5.00%, due 11/15/23 (b) | $ 940,000 | $ 953,611 |
Colliers Hill Metropolitan District No. 2 CO, Limited General Obligation | ||
Series A | ||
6.50%, due 12/1/47 | 1,000,000 | 1,032,360 |
Colorado Bridge Enterprise, Colorado High Performance Transportation Enterprise, Revenue Bonds | ||
4.00%, due 12/31/26 (b) | 3,950,000 | 3,916,166 |
Colorado Educational & Cultural Facilities Authority, Johnson & Wales University Project, Revenue Bonds | ||
Series A | ||
4.00%, due 4/1/23 | 315,000 | 315,937 |
Series B | ||
5.00%, due 4/1/24 | 500,000 | 503,523 |
Colorado Educational & Cultural Facilities Authority, Westgate Community School Project, Revenue Bonds | ||
Series A, Insured: Moral Obligation | ||
4.00%, due 7/1/23 | 50,000 | 50,072 |
Series A, Insured: Moral Obligation | ||
4.00%, due 7/1/25 | 105,000 | 105,478 |
Series A, Insured: Moral Obligation | ||
4.00%, due 7/1/26 | 160,000 | 160,404 |
Series A, Insured: Moral Obligation | ||
4.00%, due 7/1/27 | 170,000 | 169,626 |
Colorado Educational & Cultural Facilities Authority, Banning Lewis Ranch Academy Building Co. LLC, Revenue Bonds | ||
Series A, Insured: Moral Obligation | ||
4.00%, due 12/15/25 | 75,000 | 74,683 |
Series A, Insured: Moral Obligation | ||
4.00%, due 12/15/26 | 150,000 | 148,747 |
Colorado School of Mines, Capital Appreciation, Revenue Bonds | ||
Insured: NATL-RE | ||
(zero coupon), due 12/1/25 | 100,000 | 88,959 |
Principal Amount | Value | |
Colorado (continued) | ||
Copperleaf Metropolitan District No. 2, Limited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/26 | $ 385,000 | $ 391,080 |
Crystal Valley Metropolitan District No. 2, Limited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 12/1/22 | 100,000 | 100,141 |
Series A, Insured: AGM | ||
5.00%, due 12/1/23 | 140,000 | 142,406 |
Series A, Insured: AGM | ||
5.00%, due 12/1/24 | 175,000 | 180,369 |
Series A, Insured: AGM | ||
5.00%, due 12/1/25 | 250,000 | 261,047 |
E-470 Public Highway Authority, Revenue Bonds | ||
Series B, Insured: NATL-RE | ||
(zero coupon), due 9/1/26 | 250,000 | 214,028 |
Series A, Insured: NATL-RE | ||
(zero coupon), due 9/1/28 | 3,080,000 | 2,408,410 |
Eagle County Airport Terminal Corp., Revenue Bonds | ||
Series B | ||
4.00%, due 5/1/24 (b) | 330,000 | 327,714 |
El Paso County School District No. 3 Widefield, Recreation Facility Project, Certificate of Participation | ||
Insured: AGM | ||
4.00%, due 12/1/22 | 175,000 | 175,095 |
Erie Commons Metropolitan District No. 2, Limited General Obligation, Senior Lien | ||
Series A, Insured: AGM | ||
5.00%, due 12/1/23 | 130,000 | 132,303 |
Erie Highlands Metropolitan District No. 1, Limited General Obligation | ||
Insured: BAM | ||
3.00%, due 12/1/24 | 245,000 | 242,230 |
Goldsmith Metropolitan District, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 12/1/22 | 100,000 | 100,072 |
Insured: AGM | ||
4.00%, due 12/1/24 | 20,000 | 20,320 |
Insured: AGM | ||
4.00%, due 12/1/26 | 135,000 | 138,525 |
16 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Colorado (continued) | ||
Leyden Rock Metropolitan District, Limited General Obligation | ||
Insured: AGM | ||
5.00%, due 12/1/22 | $ 180,000 | $ 180,236 |
Insured: AGM | ||
5.00%, due 12/1/27 | 365,000 | 390,121 |
Insured: AGM | ||
5.00%, due 12/1/28 | 330,000 | 356,364 |
North Pine Vistas Metropolitan District No. 3, Limited General Obligation, Senior Lien | ||
Series A, Insured: AGM | ||
5.00%, due 12/1/22 | 50,000 | 50,061 |
Series A, Insured: AGM | ||
5.00%, due 12/1/23 | 95,000 | 96,460 |
Series A, Insured: AGM | ||
5.00%, due 12/1/25 | 155,000 | 161,343 |
Poudre Tech Metropolitan District, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 12/1/23 | 400,000 | 397,044 |
Insured: AGM | ||
3.00%, due 12/1/24 | 400,000 | 393,254 |
Insured: AGM | ||
3.00%, due 12/1/25 | 150,000 | 146,123 |
Insured: AGM | ||
3.00%, due 12/1/27 | 170,000 | 161,953 |
Regional Transportation District, Denver Transit Partners Eagle P3 Project, Revenue Bonds | ||
3.00%, due 7/15/23 | 100,000 | 99,601 |
5.00%, due 7/15/24 | 300,000 | 301,762 |
5.00%, due 7/15/25 | 400,000 | 405,744 |
Saddle Rock Metropolitan District, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 12/1/22 | 75,000 | 74,984 |
Sand Creek Metropolitan District, Limited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 12/1/22 | 125,000 | 125,067 |
Triview Metropolitan District, Green Bond, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 12/1/22 | 210,000 | 210,305 |
Insured: BAM | ||
5.00%, due 12/1/24 | 315,000 | 325,304 |
Principal Amount | Value | |
Colorado (continued) | ||
Triview Metropolitan District, Green Bond, Revenue Bonds (continued) | ||
Insured: BAM | ||
5.00%, due 12/1/25 | $ 255,000 | $ 266,648 |
Vauxmont Metropolitan District, Limited General Obligation | ||
Insured: AGM | ||
5.00%, due 12/15/22 | 100,000 | 100,169 |
17,845,115 | ||
Connecticut 1.5% | ||
City of Bridgeport CT, Unlimited General Obligation | ||
Series A | ||
5.00%, due 6/1/23 | 600,000 | 605,768 |
Series A | ||
5.00%, due 6/1/24 | 865,000 | 885,598 |
City of Hartford CT, Unlimited General Obligation | ||
Series A, Insured: State Guaranteed | ||
5.00%, due 4/1/23 | 490,000 | 493,797 |
Series B, Insured: AGM State Guaranteed | ||
5.00%, due 10/1/24 | 1,380,000 | 1,419,957 |
Series A, Insured: BAM State Guaranteed | ||
5.00%, due 12/1/25 | 1,875,000 | 1,954,510 |
Series A, Insured: BAM State Guaranteed | ||
5.00%, due 12/1/26 | 1,760,000 | 1,856,012 |
City of New Haven CT, Unlimited General Obligation | ||
Series A | ||
5.25%, due 8/1/25 | 155,000 | 161,136 |
City of West Haven CT, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 3/15/23 | 250,000 | 250,635 |
Insured: BAM | ||
4.00%, due 3/15/24 | 380,000 | 383,126 |
Insured: BAM | ||
4.00%, due 3/15/26 | 200,000 | 203,422 |
4.00%, due 9/15/26 | 255,000 | 257,579 |
Connecticut State Higher Education Supplement Loan Authority, Chesla Loan Program, Revenue Bonds | ||
3.00%, due 11/15/25 | 800,000 | 791,636 |
5.00%, due 11/15/22 (b) | 425,000 | 425,239 |
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 11/15/23 | $ 200,000 | $ 203,267 |
5.00%, due 11/15/24 | 765,000 | 788,321 |
Series B | ||
5.00%, due 11/15/24 (b) | 255,000 | 261,406 |
5.00%, due 11/15/25 (b) | 1,000,000 | 1,035,466 |
State of Connecticut, Unlimited General Obligation | ||
Series A | ||
0.508%, due 6/1/24 | 1,000,000 | 934,185 |
Series B | ||
4.00%, due 3/1/24 | 100,000 | 100,262 |
Series A | ||
5.00%, due 4/15/23 | 3,200,000 | 3,227,101 |
Series C | ||
5.00%, due 6/15/23 | 1,500,000 | 1,517,159 |
State of Connecticut, Transportation Infrastructure, Special Tax, Revenue Bonds | ||
5.00%, due 5/1/23 | 675,000 | 680,874 |
State of Connecticut, Transportation Infrastructure, Special Tax | ||
Series D | ||
5.00%, due 11/1/26 | 700,000 | 742,878 |
Town of Hamden CT, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 8/15/27 | 325,000 | 331,151 |
Town of Windham CT, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 8/15/27 | 825,000 | 848,301 |
20,358,786 | ||
Delaware 0.1% | ||
Delaware State Economic Development Authority, Newark Charter School, Inc. Project, Revenue Bonds | ||
4.00%, due 9/1/24 | 370,000 | 367,478 |
4.00%, due 9/1/24 | 130,000 | 129,114 |
4.00%, due 9/1/25 | 105,000 | 103,779 |
4.00%, due 9/1/26 | 140,000 | 137,425 |
Principal Amount | Value | |
Delaware (continued) | ||
Delaware Transportation Authority, Revenue Bonds | ||
5.00%, due 9/1/26 | $ 1,150,000 | $ 1,212,254 |
1,950,050 | ||
District of Columbia 1.3% | ||
District of Columbia, Gallery Place Project, Tax Allocation | ||
5.00%, due 6/1/27 | 1,720,000 | 1,722,000 |
District of Columbia, Friendship Public Charter School, Inc., Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/42 | 2,000,000 | 2,002,769 |
Metropolitan Washington Airports Authority, Airport System, Revenue Bonds (b) | ||
Series A | ||
5.00%, due 10/1/24 | 445,000 | 455,063 |
5.00%, due 10/1/26 | 930,000 | 961,022 |
Series A | ||
5.00%, due 10/1/27 | 1,000,000 | 1,015,348 |
Metropolitan Washington Airports Authority, Revenue Bonds (b) | ||
Series A | ||
5.00%, due 10/1/27 | 2,160,000 | 2,240,250 |
Series A | ||
5.00%, due 10/1/28 | 1,020,000 | 1,058,248 |
Metropolitan Washington Airports Authority Aviation, Revenue Bonds (b) | ||
Series A | ||
5.00%, due 10/1/23 | 2,000,000 | 2,023,908 |
Series A | ||
5.00%, due 10/1/24 | 2,230,000 | 2,280,428 |
Series A | ||
5.00%, due 10/1/25 | 1,665,000 | 1,711,639 |
Series A | ||
5.00%, due 10/1/27 | 2,700,000 | 2,800,312 |
18,270,987 | ||
Florida 2.1% | ||
Centre Lake Community Development District, Special Assessment | ||
2.75%, due 5/1/27 | 235,000 | 210,113 |
18 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Florida (continued) | ||
City of Orlando FL, Tourist Development Tax, Revenue Bonds, Senior Lien | ||
Insured: AGM | ||
5.00%, due 11/1/25 | $ 1,095,000 | $ 1,136,843 |
City of Tampa FL, H Lee Moffitt Cancer Center Project, Revenue Bonds | ||
5.00%, due 7/1/23 | 75,000 | 75,669 |
5.00%, due 7/1/24 | 300,000 | 305,682 |
5.00%, due 7/1/25 | 425,000 | 437,597 |
County of Broward FL, Port Facilities, Revenue Bonds | ||
Series D | ||
5.00%, due 9/1/23 (b) | 1,000,000 | 1,013,009 |
5.00%, due 9/1/24 | 500,000 | 511,033 |
5.00%, due 9/1/25 | 700,000 | 722,308 |
5.00%, due 9/1/26 | 835,000 | 868,641 |
5.00%, due 9/1/27 | 1,995,000 | 2,088,513 |
County of Monroe FL, Airport, Revenue Bonds (b) | ||
Series 202 | ||
5.00%, due 10/1/26 | 200,000 | 205,869 |
Series 202 | ||
5.00%, due 10/1/27 | 200,000 | 206,533 |
Greater Orlando Aviation Authority, Airport Facilities, Revenue Bonds (b) | ||
Series A | ||
5.00%, due 10/1/23 | 290,000 | 293,545 |
Series A | ||
5.00%, due 10/1/23 | 210,000 | 212,189 |
Series A | ||
5.00%, due 10/1/23 | 8,895,000 | 8,990,935 |
Herons Glen Recreation District, Special Assessment | ||
Insured: BAM | ||
2.50%, due 5/1/23 | 230,000 | 227,846 |
Insured: BAM | ||
2.50%, due 5/1/24 | 150,000 | 145,982 |
Hillsborough County Industrial Development Authority, Tampa General Hospital Project, Revenue Bonds | ||
Series A | ||
5.00%, due 8/1/25 | 260,000 | 267,582 |
Principal Amount | Value | |
Florida (continued) | ||
Hillsborough County Industrial Development Authority, Tampa General Hospital Project, Revenue Bonds (continued) | ||
Series A | ||
5.00%, due 8/1/26 | $ 315,000 | $ 327,114 |
Lakewood Ranch Stewardship District, Lakewood Center and NW Sector Projects, Special Assessment, Senior Lien | ||
Insured: AGM | ||
1.164%, due 5/1/23 | 540,000 | 530,039 |
Miami-Dade County Expressway Authority, Revenue Bonds | ||
Series B | ||
5.00%, due 7/1/25 | 265,000 | 270,707 |
Series B, Insured: BAM | ||
5.00%, due 7/1/26 | 5,000,000 | 5,108,489 |
Orange County Health Facilities Authority, AdventHealth Obligated Group, Revenue Bonds | ||
Series C | ||
5.00%, due 11/15/52 (a) | 2,340,000 | 2,448,526 |
St. Lucie County School Board, Certificate of Participation | ||
Insured: AGM | ||
3.00%, due 8/15/26 | 350,000 | 338,032 |
State of Florida, Right-of-Way Acquisition and Bridge Construction, Unlimited General Obligation | ||
Series A | ||
5.00%, due 7/1/27 | 1,075,000 | 1,152,813 |
University of North Florida Financing Corp. (The), Housing Project, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 11/1/22 | 1,000,000 | 1,000,000 |
29,095,609 | ||
Georgia 0.7% | ||
City of Dalton GA, Georgia Combined Utilities, Revenue Bonds | ||
5.00%, due 3/1/23 | 500,000 | 502,760 |
County of Paulding GA, Water & Sewerage, Revenue Bonds | ||
5.00%, due 12/1/22 | 100,000 | 100,148 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Georgia (continued) | ||
Main Street Natural Gas, Inc., Revenue Bonds | ||
Series A | ||
4.00%, due 4/1/48 (a) | $ 2,500,000 | $ 2,494,866 |
Series C | ||
4.00%, due 3/1/50 (a) | 2,625,000 | 2,520,584 |
Series A | ||
5.00%, due 5/15/23 | 1,110,000 | 1,114,316 |
Municipal Electric Authority of Georgia, Combined Cycle Project, Revenue Bonds | ||
Series A | ||
3.00%, due 11/1/22 | 445,000 | 445,000 |
Municipal Electric Authority of Georgia, Plant Vogtle Units 3 & 4 Project, Revenue Bonds | ||
5.00%, due 1/1/23 | 350,000 | 350,768 |
5.00%, due 1/1/24 | 445,000 | 451,924 |
5.00%, due 1/1/25 | 90,000 | 92,202 |
Municipal Electric Authority of Georgia, Project One Subordinated Bonds, Revenue Bonds | ||
Series A | ||
5.00%, due 1/1/26 | 970,000 | 1,000,677 |
Private Colleges & Universities Authority, Savannah College of Art & Design, Revenue Bonds | ||
5.00%, due 4/1/24 | 65,000 | 66,350 |
Private Colleges & Universities Authority, Mercer University Project, Revenue Bonds | ||
5.00%, due 10/1/26 | 625,000 | 652,747 |
9,792,342 | ||
Guam 0.4% | ||
Antonio B Won Pat International Airport Authority, Revenue Bonds | ||
Series B | ||
3.133%, due 10/1/24 | 1,310,000 | 1,269,966 |
Series B | ||
3.133%, due 10/1/24 | 630,000 | 601,349 |
Guam Government Waterworks Authority, Revenue Bonds | ||
5.00%, due 7/1/24 | 400,000 | 404,997 |
Series A | ||
5.00%, due 7/1/24 | 300,000 | 303,748 |
Principal Amount | Value | |
Guam (continued) | ||
Guam Power Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/25 | $ 2,500,000 | $ 2,563,106 |
5,143,166 | ||
Hawaii 0.1% | ||
State of Hawaii Airports System, Certificate of Participation | ||
5.25%, due 8/1/24 | 250,000 | 252,899 |
5.25%, due 8/1/25 | 1,300,000 | 1,310,724 |
1,563,623 | ||
Illinois 11.5% | ||
Carol Stream Park District, Unlimited General Obligation | ||
Series C, Insured: BAM | ||
4.00%, due 11/1/25 | 450,000 | 456,284 |
Series C, Insured: BAM | ||
4.00%, due 11/1/26 | 550,000 | 559,161 |
Chicago Board of Education, Unlimited General Obligation | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 12/1/22 | 150,000 | 149,559 |
Series A, Insured: AGM | ||
5.00%, due 12/1/23 | 4,650,000 | 4,715,063 |
Chicago Board of Education, Capital Appreciation, School Reform, Unlimited General Obligation | ||
Insured: NATL-RE | ||
(zero coupon), due 12/1/23 | 500,000 | 477,360 |
Series A, Insured: NATL-RE | ||
(zero coupon), due 12/1/25 | 1,630,000 | 1,416,313 |
Chicago Midway International Airport, Revenue Bonds, Second Lien | ||
Series A | ||
5.00%, due 1/1/27 (b) | 1,040,000 | 1,046,441 |
Chicago O'Hare International Airport, Revenue Bonds, Senior Lien | ||
Series D | ||
1.168%, due 1/1/24 | 1,000,000 | 957,775 |
Series D | ||
5.00%, due 1/1/24 (b) | 150,000 | 151,906 |
Series D | ||
5.00%, due 1/1/24 | 850,000 | 852,514 |
Series B | ||
5.00%, due 1/1/26 | 1,250,000 | 1,300,104 |
20 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
Chicago O'Hare International Airport, Passenger Facility Charge, Revenue Bonds | ||
5.00%, due 1/1/25 (b) | $ 835,000 | $ 835,546 |
Chicago O'Hare International Airport, General, Revenue Bonds, Senior Lien | ||
Series C | ||
5.00%, due 1/1/25 (b) | 1,000,000 | 1,018,629 |
Chicago Park District, Unlimited General Obligation | ||
Series F-2 | ||
5.00%, due 1/1/25 | 400,000 | 407,286 |
Series F-2 | ||
5.00%, due 1/1/26 | 550,000 | 562,461 |
City of Berwyn IL, Unlimited General Obligation | ||
Series A | ||
5.00%, due 12/1/23 | 330,000 | 332,312 |
Series A | ||
5.00%, due 12/1/24 | 820,000 | 826,937 |
Series A | ||
5.00%, due 12/1/25 | 465,000 | 469,206 |
Series A | ||
5.00%, due 12/1/26 | 705,000 | 712,134 |
City of Canton IL, Alternative Revenue Source, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
3.00%, due 12/1/22 | 635,000 | 634,266 |
Series A, Insured: BAM | ||
3.00%, due 12/1/23 | 550,000 | 542,482 |
City of Chicago Heights IL, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/24 | 300,000 | 302,864 |
Insured: BAM | ||
4.00%, due 12/1/25 | 300,000 | 304,143 |
Insured: BAM | ||
4.00%, due 12/1/26 | 300,000 | 303,600 |
City of Chicago IL, Unlimited General Obligation | ||
Series C | ||
(zero coupon), due 1/1/25 | 2,255,000 | 2,057,153 |
Series C | ||
5.00%, due 1/1/24 | 3,520,000 | 3,532,337 |
Principal Amount | Value | |
Illinois (continued) | ||
City of Chicago IL, Unlimited General Obligation (continued) | ||
Series A | ||
5.00%, due 1/1/26 | $ 405,000 | $ 405,834 |
5.25%, due 1/1/28 | 925,000 | 928,570 |
City of Chicago IL, Revenue Bonds, Second Lien | ||
3.15%, due 11/1/24 | 475,000 | 467,390 |
City of Chicago IL, Wastewater Transmission, Revenue Bonds | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 1/1/26 | 2,090,000 | 1,832,145 |
Series A, Insured: NATL-RE | ||
(zero coupon), due 1/1/27 | 12,120,000 | 10,142,972 |
City of Chicago IL, Wastewater Transmission, Revenue Bonds, Second Lien | ||
5.00%, due 1/1/24 | 150,000 | 152,420 |
5.00%, due 1/1/26 | 1,130,000 | 1,130,900 |
City of Chicago IL, Waterworks, Revenue Bonds, Second Lien | ||
5.00%, due 11/1/22 | 500,000 | 500,000 |
5.00%, due 11/1/24 | 250,000 | 250,670 |
5.00%, due 11/1/25 | 155,000 | 158,029 |
Insured: BAM | ||
5.00%, due 11/1/25 | 135,000 | 139,605 |
Insured: AGM-CR | ||
5.00%, due 11/1/25 | 400,000 | 401,251 |
5.00%, due 11/1/26 | 410,000 | 417,638 |
City of Chicago IL, Neighbourhoods Alive 21 Program, Unlimited General Obligation | ||
Series 2002B | ||
5.00%, due 1/1/24 | 150,000 | 150,526 |
Series 2002B | ||
5.00%, due 1/1/26 | 170,000 | 170,564 |
Series 2002B | ||
5.25%, due 1/1/28 | 150,000 | 150,579 |
City of Country Club Hills IL, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 1/1/26 | 300,000 | 289,926 |
Insured: BAM | ||
3.00%, due 1/1/27 | 250,000 | 238,653 |
City of Galesburg IL, Knox College Project, Revenue Bonds | ||
Series B | ||
1.588%, due 10/1/23 | 150,000 | 145,279 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
City of Galesburg IL, Knox College Project, Revenue Bonds (continued) | ||
Series A | ||
5.00%, due 10/1/26 | $ 175,000 | $ 180,199 |
Series A | ||
5.00%, due 10/1/27 | 175,000 | 180,795 |
City of Kankakee IL, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 1/1/24 | 750,000 | 753,630 |
City of Kankakee IL, Special Obligation, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 1/1/25 | 800,000 | 808,713 |
City of Monmouth IL, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 12/1/22 | 350,000 | 350,138 |
Series A, Insured: BAM | ||
4.00%, due 12/1/23 | 365,000 | 366,662 |
Series A, Insured: BAM | ||
4.00%, due 12/1/24 | 380,000 | 383,714 |
City of Rock Island IL, Green Bond, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/22 | 220,000 | 220,134 |
Insured: BAM | ||
4.00%, due 12/1/25 | 175,000 | 177,366 |
City of Rock Island IL, Unlimited General Obligation | ||
Series B, Insured: AGM | ||
4.00%, due 12/1/22 | 275,000 | 275,167 |
City of Rockford IL, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/15/22 | 250,000 | 250,206 |
Insured: BAM | ||
4.00%, due 12/15/23 | 560,000 | 563,543 |
Insured: BAM | ||
4.00%, due 12/15/24 | 285,000 | 288,051 |
City of Rockford IL, Alternative Revenue Source, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 12/15/22 | 135,000 | 135,111 |
Principal Amount | Value | |
Illinois (continued) | ||
City of Rockford IL, Alternative Revenue Source, Unlimited General Obligation (continued) | ||
Series A, Insured: AGM | ||
4.00%, due 12/15/23 | $ 140,000 | $ 140,886 |
Series A, Insured: AGM | ||
4.00%, due 12/15/24 | 290,000 | 293,342 |
City of Sterling IL, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
0.40%, due 11/1/23 | 20,000 | 19,150 |
Series B, Insured: BAM | ||
4.00%, due 11/1/25 | 100,000 | 101,539 |
Series B, Insured: BAM | ||
4.00%, due 11/1/26 | 370,000 | 376,163 |
Series B, Insured: BAM | ||
4.00%, due 11/1/29 | 285,000 | 289,386 |
City of Waukegan IL, Water & Sewer System, Revenue Bonds, First Lien | ||
Insured: AGM | ||
4.00%, due 12/30/23 | 100,000 | 100,540 |
Insured: AGM | ||
4.00%, due 12/30/24 | 110,000 | 111,174 |
Insured: AGM | ||
4.00%, due 12/30/25 | 150,000 | 152,225 |
City of Waukegan IL, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 12/30/23 | 250,000 | 251,349 |
Series A, Insured: BAM | ||
4.00%, due 12/30/24 | 280,000 | 282,988 |
Series A, Insured: BAM | ||
4.00%, due 12/30/26 | 300,000 | 305,045 |
Cook County Community Unit School District No. 401 Elmwood Park, Unlimited General Obligation | ||
3.00%, due 12/1/22 | 500,000 | 499,883 |
Cook County School District No. 122 Ridgeland, Unlimited General Obligation | ||
Series A | ||
3.00%, due 12/1/22 | 950,000 | 949,778 |
Cook County School District No. 94, Unlimited General Obligation | ||
Insured: BAM | ||
5.00%, due 12/1/22 | 340,000 | 340,459 |
Insured: BAM | ||
5.00%, due 12/1/23 | 555,000 | 563,060 |
22 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
Cook County School District No. 94, Unlimited General Obligation (continued) | ||
Insured: BAM | ||
5.00%, due 12/1/24 | $ 370,000 | $ 379,479 |
Insured: BAM | ||
5.00%, due 12/1/25 | 390,000 | 404,345 |
Cook County Township High School District No. 220 Reavis, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/23 | 760,000 | 763,620 |
Insured: BAM | ||
5.00%, due 12/1/24 | 570,000 | 585,178 |
Cook County Township High School District No. 225, Unlimited General Obligation | ||
5.00%, due 12/1/26 | 1,180,000 | 1,247,589 |
County of Sangamon IL, Limited General Obligation | ||
Insured: BAM | ||
5.00%, due 12/15/22 | 135,000 | 135,277 |
Insured: BAM | ||
5.00%, due 12/15/25 | 230,000 | 240,209 |
Crawford Hospital District, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 1/1/23 | 265,000 | 265,277 |
Insured: AGM | ||
4.00%, due 1/1/24 | 280,000 | 281,482 |
Insured: AGM | ||
4.00%, due 1/1/25 | 285,000 | 287,926 |
Insured: AGM | ||
4.00%, due 1/1/26 | 300,000 | 304,272 |
Darien-Woodridge Fire Protection District, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 12/30/22 | 75,000 | 74,927 |
Insured: BAM | ||
3.00%, due 12/30/23 | 100,000 | 99,200 |
Insured: BAM | ||
3.00%, due 12/30/25 | 100,000 | 97,783 |
Illinois Finance Authority, Regenct Park, Revenue Bonds | ||
(zero coupon), due 7/15/25 | 11,295,000 | 10,216,669 |
Principal Amount | Value | |
Illinois (continued) | ||
Illinois Finance Authority, Learn Charter School Project, Revenue Bonds | ||
4.00%, due 11/1/22 | $ 125,000 | $ 125,000 |
4.00%, due 11/1/23 | 135,000 | 134,595 |
4.00%, due 11/1/24 | 135,000 | 133,430 |
4.00%, due 11/1/25 | 210,000 | 206,034 |
4.00%, due 11/1/26 | 215,000 | 209,345 |
Illinois Finance Authority, OSF Healthcare System, Revenue Bonds | ||
Series A | ||
5.00%, due 5/15/23 | 400,000 | 403,248 |
Illinois Sports Facilities Authority (The), Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 6/15/25 | 115,000 | 116,800 |
Illinois State Toll Highway Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/22 | 3,010,000 | 3,014,439 |
Illinois State University, Auxiliary Facilities System, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 4/1/24 | 2,360,000 | 2,404,104 |
Kane County School District No. 129 West Aurora, Unlimited General Obligation | ||
Series C, Insured: BAM | ||
5.00%, due 2/1/25 | 1,800,000 | 1,854,608 |
Kane County School District No. 131 Aurora East Side, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/22 | 580,000 | 580,324 |
Kankakee County School District No. 111 Kankakee, Limited General Obligation | ||
Insured: BAM | ||
4.00%, due 1/1/24 | 370,000 | 372,211 |
Insured: BAM | ||
4.00%, due 1/1/25 | 390,000 | 393,942 |
Knox & Warren Counties Community Unit School District No. 205 Galesburg, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 12/1/25 | 685,000 | 692,663 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
Knox & Warren Counties Community Unit School District No. 205 Galesburg, Unlimited General Obligation (continued) | ||
Series B, Insured: BAM | ||
4.00%, due 1/1/26 | $ 640,000 | $ 647,199 |
Series A, Insured: BAM | ||
4.00%, due 12/1/26 | 680,000 | 688,417 |
La Salle County School District No. 141 Ottawa, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 12/1/22 | 370,000 | 370,177 |
Lake County Community Consolidated School District No. 3 Beach Park, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 2/1/24 | 405,000 | 407,176 |
Insured: AGM | ||
4.00%, due 2/1/25 | 450,000 | 454,767 |
Lake County Consolidated High School District No. 120 Mundelein, Limited General Obligation | ||
5.50%, due 12/1/25 | 250,000 | 263,546 |
5.50%, due 12/1/26 | 260,000 | 278,163 |
Macon & De Witt Counties Community Unit School District No. 2, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 12/1/25 | 385,000 | 388,747 |
Insured: AGM | ||
4.00%, due 12/1/26 | 415,000 | 419,666 |
Insured: AGM | ||
4.00%, due 12/1/27 | 350,000 | 354,559 |
Macon County School District No. 61 Decatur, Unlimited General Obligation | ||
Series C, Insured: AGM | ||
4.00%, due 1/1/24 | 750,000 | 755,250 |
Insured: AGM | ||
4.00%, due 12/1/24 | 100,000 | 100,775 |
Insured: AGM | ||
4.00%, due 12/1/27 | 1,020,000 | 1,021,565 |
Principal Amount | Value | |
Illinois (continued) | ||
Macoupin County Community Unit School District No. 1 Carlinville, Limited General Obligation | ||
Series B, Insured: BAM | ||
3.00%, due 12/1/26 | $ 750,000 | $ 726,835 |
Madison-Macoupin Etc Counties Community College District No. 536, Revenue Bonds | ||
Series A, Insured: BAM | ||
4.00%, due 11/1/22 | 350,000 | 350,000 |
Madison-Macoupin Etc Counties Community College District No. 536, Lewis & Clark Community Project, Unlimited General Obligation | ||
5.00%, due 11/1/22 | 420,000 | 420,000 |
McHenry & Kane Counties Community Consolidated School District No. 158 Huntley, Unlimited General Obligation | ||
Insured: AGM-CR | ||
(zero coupon), due 1/1/24 | 350,000 | 334,468 |
Metropolitan Pier & Exposition Authority, Revenue Bonds | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 12/15/22 | 115,000 | 114,426 |
Metropolitan Pier & Exposition Authority, McCormick Place Expansion Project, Revenue Bonds | ||
Insured: NATL-RE | ||
(zero coupon), due 12/15/23 | 175,000 | 166,685 |
Montgomery & Macoupin Counties Community Unit School District No. 12 Litchfield, Unlimited General Obligation | ||
Series C, Insured: BAM | ||
4.00%, due 10/1/25 | 355,000 | 359,057 |
Series C, Insured: BAM | ||
4.00%, due 10/1/26 | 380,000 | 384,904 |
Series C, Insured: BAM | ||
4.00%, due 10/1/27 | 405,000 | 411,928 |
Series C, Insured: BAM | ||
4.00%, due 10/1/28 | 430,000 | 435,396 |
Northern Illinois University, Revenue Bonds | ||
Series B, Insured: BAM | ||
5.00%, due 4/1/23 | 240,000 | 241,562 |
24 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
Northern Illinois University, Revenue Bonds (continued) | ||
Series B, Insured: BAM | ||
5.00%, due 4/1/25 | $ 850,000 | $ 871,056 |
Public Building Commission of Chicago, Revenue Bonds | ||
Insured: AMBAC | ||
5.25%, due 3/1/24 | 1,000,000 | 1,018,900 |
Regional Transportation Authority, Revenue Bonds | ||
Series A, Insured: NATL-RE | ||
6.00%, due 7/1/23 | 1,145,000 | 1,164,158 |
Rock Island County Metropolitan Airport Authority, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 12/1/22 | 1,185,000 | 1,185,498 |
Rock Island County School District No. 41 Rock Island, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/23 | 385,000 | 387,770 |
Saline County Community Unit School District No. 3 Harrisburg, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
3.00%, due 12/1/26 | 765,000 | 741,371 |
Sangamon County School District No. 186 Springfield, Unlimited General Obligation | ||
Series C, Insured: AGM | ||
4.00%, due 6/1/24 | 1,000,000 | 1,006,262 |
Series C, Insured: AGM | ||
4.00%, due 6/1/25 | 875,000 | 882,603 |
Series C, Insured: AGM | ||
5.00%, due 6/1/26 | 910,000 | 947,052 |
Series C, Insured: AGM | ||
5.00%, due 6/1/27 | 955,000 | 1,003,152 |
South Sangamon Water Commission, Alternative Revenue Source, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 1/1/23 | 165,000 | 165,061 |
Insured: AGM | ||
4.00%, due 1/1/24 | 350,000 | 350,505 |
Insured: AGM | ||
4.00%, due 1/1/25 | 250,000 | 250,457 |
Principal Amount | Value | |
Illinois (continued) | ||
Southern Illinois University, Housing & Auxiliary Facilities System, Revenue Bonds | ||
Series B, Insured: BAM | ||
5.00%, due 4/1/26 | $ 1,175,000 | $ 1,205,742 |
Stark Knox Marshall Henry & Peoria Counties Community Unit School Dist No. 100, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/26 | 260,000 | 264,106 |
State of Illinois, Unlimited General Obligation | ||
5.00%, due 7/1/23 | 400,000 | 402,526 |
Series A | ||
5.00%, due 10/1/23 | 200,000 | 201,530 |
Series A | ||
5.00%, due 10/1/24 | 200,000 | 201,788 |
Series D | ||
5.00%, due 11/1/24 | 10,000,000 | 10,088,776 |
Series D | ||
5.00%, due 11/1/25 | 5,000,000 | 5,040,072 |
Series A | ||
5.00%, due 12/1/26 | 1,980,000 | 1,994,074 |
Series A | ||
5.00%, due 3/1/27 | 525,000 | 528,415 |
Series D | ||
5.00%, due 11/1/27 | 2,175,000 | 2,183,559 |
Series A | ||
5.00%, due 3/1/29 | 3,745,000 | 3,751,184 |
Series C | ||
5.00%, due 11/1/29 | 5,920,000 | 5,925,146 |
Series B | ||
5.15%, due 1/1/24 | 500,000 | 499,436 |
Series A | ||
5.25%, due 10/1/23 | 10,000,000 | 10,004,260 |
State of Illinois, Unlimited General Obligation, First Series | ||
Insured: NATL-RE | ||
6.00%, due 11/1/26 | 4,115,000 | 4,276,334 |
Village of Antioch IL, Green Bond, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/27 | 875,000 | 892,788 |
Village of Brookfield IL, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 3/1/23 | 270,000 | 270,657 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
Village of Franklin Park IL, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 10/1/25 | $ 280,000 | $ 273,817 |
Insured: BAM | ||
5.00%, due 4/1/23 | 10,000 | 10,067 |
Village of McCook IL, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 12/1/23 | 230,000 | 231,411 |
Village of Park Forest IL, Green Bond, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 1/1/26 | 500,000 | 507,025 |
Insured: BAM | ||
4.00%, due 1/1/27 | 525,000 | 533,181 |
Village of Sauk Village IL, Unlimited General Obligation | ||
Series C, Insured: BAM | ||
4.00%, due 12/1/22 | 100,000 | 100,040 |
Series C, Insured: BAM | ||
4.00%, due 12/1/23 | 1,030,000 | 1,034,689 |
Village of Stone Park IL, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
4.00%, due 2/1/24 | 135,000 | 135,693 |
Series B, Insured: BAM | ||
4.00%, due 2/1/25 | 150,000 | 151,244 |
Village of Westchester IL, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/26 | 290,000 | 295,242 |
West Chicago Park District, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
3.00%, due 12/1/23 | 225,000 | 223,515 |
Series B, Insured: BAM | ||
3.00%, due 12/1/24 | 485,000 | 478,095 |
Series B, Insured: BAM | ||
3.00%, due 12/1/25 | 520,000 | 507,849 |
Western Illinois University, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 4/1/26 | 1,340,000 | 1,348,030 |
Insured: BAM | ||
4.00%, due 4/1/27 | 1,400,000 | 1,404,882 |
Principal Amount | Value | |
Illinois (continued) | ||
White Oak Library District, Unlimited General Obligation | ||
5.00%, due 1/1/23 | $ 430,000 | $ 431,214 |
Will County Community High School District No. 210 Lincoln-Way, Unlimited General Obligation | ||
Insured: AGM | ||
(zero coupon), due 1/1/25 | 685,000 | 627,954 |
Will County Community Unit School District No. 201-U, Crete-Monee, Limited General Obligation | ||
Series E, Insured: AGM | ||
5.00%, due 1/1/24 | 275,000 | 279,783 |
Series E, Insured: AGM | ||
5.00%, due 1/1/25 | 340,000 | 350,173 |
Woodford Lasalle Livingston Etc Counties Community Unit Sch Dist No. 6 Fieldcrest, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 12/1/25 | 200,000 | 202,587 |
Series A, Insured: BAM | ||
4.00%, due 12/1/26 | 175,000 | 177,431 |
Series A, Insured: BAM | ||
4.00%, due 12/1/26 | 330,000 | 334,585 |
Series A, Insured: BAM | ||
4.00%, due 12/1/27 | 285,000 | 289,637 |
Series A, Insured: BAM | ||
4.00%, due 12/1/27 | 400,000 | 406,508 |
156,865,317 | ||
Indiana 1.5% | ||
Center Grove Community School Corp., Limited General Obligation | ||
Insured: State Intercept | ||
5.00%, due 7/1/23 (e) | 2,830,000 | 2,846,972 |
City of Evansville IN, Medical School Project, Tax Allocation | ||
Series A, Insured: BAM | ||
5.00%, due 2/1/23 | 535,000 | 537,274 |
City of Goshen IN, Sewage Works, Revenue Bonds | ||
Insured: AGM | ||
3.00%, due 1/1/23 | 185,000 | 184,886 |
Greater Clark Building Corp., Revenue Bonds | ||
Insured: State Intercept | ||
5.00%, due 7/15/24 | 225,000 | 230,810 |
26 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Indiana (continued) | ||
Greater Clark Building Corp., Revenue Bonds (continued) | ||
Insured: State Intercept | ||
5.00%, due 1/15/25 | $ 325,000 | $ 334,399 |
Insured: State Intercept | ||
5.00%, due 7/15/25 | 475,000 | 491,364 |
Insured: State Intercept | ||
5.00%, due 1/15/26 | 655,000 | 680,939 |
Insured: State Intercept | ||
5.00%, due 7/15/26 | 1,190,000 | 1,243,645 |
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 | 105,117 |
Indiana Finance Authority, Indianapolis Power & Light Co., Revenue Bonds | ||
Series A | ||
1.40%, due 8/1/29 (a) | 4,095,000 | 3,279,034 |
Indiana Finance Authority, BHI Senior Living, Inc., Revenue Bonds | ||
Series B | ||
2.45%, due 11/15/25 | 355,000 | 319,411 |
Series B | ||
2.52%, due 11/15/26 | 515,000 | 453,583 |
Series B | ||
2.92%, due 11/15/27 | 655,000 | 568,186 |
Indiana Finance Authority, University Health, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/22 | 250,000 | 250,344 |
Indiana Finance Authority, Marian University Project, Revenue Bonds | ||
Series A | ||
5.00%, due 9/15/23 | 75,000 | 75,568 |
Indianapolis Local Public Improvement Bond Bank, Revenue Bonds (b) | ||
Series D | ||
5.00%, due 1/1/26 | 2,495,000 | 2,555,242 |
Series D | ||
5.00%, due 1/1/29 | 1,480,000 | 1,489,051 |
Muncie Sanitary District, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 7/1/25 | 975,000 | 988,860 |
Series A, Insured: AGM | ||
5.00%, due 1/1/26 | 215,000 | 223,748 |
Principal Amount | Value | |
Indiana (continued) | ||
Muncie Sanitary District, Revenue Bonds (continued) | ||
Series A, Insured: AGM | ||
5.00%, due 7/1/26 | $ 525,000 | $ 549,367 |
Terre Haute Sanitary District, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 1/1/23 | 320,000 | 319,699 |
Series A, Insured: BAM | ||
3.00%, due 7/1/23 | 390,000 | 388,438 |
Series A, Insured: BAM | ||
3.00%, due 1/1/24 | 350,000 | 347,254 |
Series A, Insured: BAM | ||
3.00%, due 7/1/24 | 385,000 | 379,829 |
Series A, Insured: BAM | ||
3.00%, due 7/1/25 | 290,000 | 282,981 |
Series A, Insured: BAM | ||
3.00%, due 7/1/26 | 280,000 | 269,671 |
Wayne Township Metropolitan School District, Limited General Obligation | ||
Insured: State Intercept | ||
4.00%, due 1/15/23 | 1,035,000 | 1,036,230 |
20,431,902 | ||
Iowa 1.5% | ||
Cedar Falls Community School District, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 6/1/24 | 2,440,000 | 2,464,264 |
Insured: AGM | ||
4.00%, due 6/1/25 | 2,540,000 | 2,576,465 |
City of Coralville IA, Unlimited General Obligation | ||
Series C | ||
4.00%, due 5/1/26 | 645,000 | 645,182 |
Series C | ||
4.00%, due 5/1/28 | 500,000 | 498,858 |
City of New Hampton IA, Electric, Revenue Bonds | ||
Insured: BAM | ||
3.00%, due 6/1/23 | 140,000 | 139,560 |
Insured: BAM | ||
3.00%, due 6/1/24 | 140,000 | 138,600 |
City of Orange IA, Water, Revenue Bonds | ||
Series B, Insured: AGM | ||
5.00%, due 6/1/23 | 250,000 | 252,389 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Iowa (continued) | ||
City of Orange IA, Water, Revenue Bonds (continued) | ||
Series B, Insured: AGM | ||
5.00%, due 6/1/25 | $ 390,000 | $ 404,345 |
Series B, Insured: AGM | ||
5.00%, due 6/1/27 | 425,000 | 450,095 |
Collins-Maxwell Community School District Sales Services & Use Tax, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 6/1/27 | 195,000 | 199,505 |
Insured: BAM | ||
4.00%, due 6/1/28 | 205,000 | 210,482 |
Insured: BAM | ||
4.00%, due 6/1/29 | 215,000 | 221,429 |
Iowa Finance Authority, Renewable Natural Gas Project, Green Bond, Revenue Bonds | ||
1.50%, due 1/1/42 (a)(b) | 2,000,000 | 1,936,442 |
Iowa Higher Education Loan Authority, University of Dubuque Project, Revenue Bonds | ||
4.00%, due 10/1/26 | 200,000 | 197,794 |
4.00%, due 10/1/27 | 200,000 | 196,706 |
Iowa Higher Education Loan Authority, Des Moines University Project, Revenue Bonds | ||
5.00%, due 10/1/23 | 515,000 | 519,308 |
5.00%, due 10/1/24 | 550,000 | 557,965 |
5.00%, due 10/1/25 | 570,000 | 582,344 |
Iowa Student Loan Liquidity Corp., Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/24 (b) | 275,000 | 279,837 |
PEFA, Inc., Revenue Bonds | ||
5.00%, due 9/1/49 (a) | 7,940,000 | 7,934,734 |
Waterloo Community School District Infrastructure Sales Services & Use Tax, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 7/1/25 | 400,000 | 405,584 |
Insured: AGM | ||
4.00%, due 7/1/26 | 100,000 | 101,662 |
20,913,550 |
Principal Amount | Value | |
Kansas 0.2% | ||
Chisholm Creek Utility Authority, Revenue Bonds | ||
Insured: AMBAC | ||
5.25%, due 9/1/23 | $ 1,165,000 | $ 1,178,690 |
Franklin County Unified School District No. 287 West Franklin, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 9/1/23 | 305,000 | 309,294 |
Kansas Development Finance Authority, Pittsburg State University, Revenue Bonds | ||
Series E, Insured: BAM | ||
5.00%, due 2/1/25 | 715,000 | 737,629 |
2,225,613 | ||
Kentucky 1.2% | ||
City of Columbia KY, Lindsey Wilson College, Inc., Revenue Bonds | ||
4.00%, due 12/1/22 | 175,000 | 175,012 |
4.00%, due 12/1/24 | 465,000 | 464,275 |
4.00%, due 12/1/26 | 500,000 | 494,771 |
City of Somerset KY, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 6/1/26 | 200,000 | 202,564 |
Insured: AGM | ||
4.00%, due 6/1/27 | 530,000 | 537,438 |
Kentucky Economic Development Finance Authority, Next Generation Kentucky Information Highway Project, Revenue Bonds, Senior Lien | ||
5.00%, due 7/1/26 | 3,450,000 | 3,477,950 |
Kentucky Public Energy Authority, Gas Supply, Revenue Bonds | ||
Series C | ||
4.00%, due 8/1/23 | 390,000 | 387,909 |
Series A | ||
4.00%, due 4/1/48 (a) | 6,500,000 | 6,421,804 |
Kentucky State Property & Building Commission, Project No. 124, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 11/1/27 | 1,500,000 | 1,589,847 |
28 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Kentucky (continued) | ||
Kentucky State University, Kentucky State University Project, Certificate of Participation | ||
Insured: BAM | ||
5.00%, due 11/1/26 | $ 220,000 | $ 231,372 |
Insured: BAM | ||
5.00%, due 11/1/27 | 200,000 | 212,543 |
Murray Electric Plant Board, Revenue Bonds | ||
Series B, Insured: AGM | ||
4.00%, due 12/1/22 | 230,000 | 230,119 |
Paducah Electric Plant Board, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 10/1/24 | 600,000 | 617,597 |
Rural Water Financing Agency, Public Projects, Revenue Notes | ||
Series A | ||
0.40%, due 5/1/23 | 2,000,000 | 1,963,927 |
17,007,128 | ||
Louisiana 2.2% | ||
Cameron Parish School District No. 15, Unlimited General Obligation | ||
5.00%, due 10/1/24 | 340,000 | 347,121 |
5.00%, due 10/1/25 | 220,000 | 226,774 |
5.00%, due 10/1/26 | 230,000 | 238,768 |
City of Shreveport LA, Water & Sewer, Revenue Bonds | ||
Series B, Insured: BAM | ||
5.00%, due 12/1/26 | 210,000 | 222,356 |
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 | 517,632 |
Insured: BAM | ||
4.00%, due 10/1/24 | 535,000 | 541,060 |
Principal Amount | Value | |
Louisiana (continued) | ||
Louisiana Local Government Environmental Facilities & Community Development Authority, University Facilities, Inc. Project, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 10/1/24 | $ 395,000 | $ 398,597 |
Insured: AGM | ||
4.00%, due 10/1/25 | 305,000 | 308,750 |
Louisiana Local Government Environmental Facilities & Community Development Authority, Innovative Student Facilities, Inc. Project, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 10/1/23 | 230,000 | 233,497 |
Insured: BAM | ||
5.00%, due 10/1/24 | 225,000 | 231,388 |
Insured: BAM | ||
5.00%, due 10/1/25 | 250,000 | 260,287 |
Louisiana Local Government Environmental Facilities & Community Development Authority, Ragin Cajun Facilities, Inc., Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 10/1/24 | 1,770,000 | 1,812,329 |
Louisiana Public Facilities Authority, Loyola University Project, Revenue Bonds | ||
5.00%, due 10/1/26 | 165,000 | 167,637 |
Louisiana Stadium & Exposition District, Revenue Notes | ||
Series A | ||
1.872%, due 7/3/23 (c) | 7,000,000 | 6,830,491 |
Louisiana Stadium & Exposition District, Revenue Bonds | ||
4.00%, due 7/3/23 | 6,150,000 | 6,146,833 |
5.00%, due 7/3/23 | 10,500,000 | 10,513,826 |
Louisiana Stadium & Exposition District, Revenue Bonds, Senior Lien | ||
Series A | ||
5.00%, due 7/1/23 | 800,000 | 807,922 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Louisiana (continued) | ||
Rapides Parish Recreation District Ward No. 9, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 3/1/23 | $ 120,000 | $ 119,742 |
Insured: AGM | ||
3.00%, due 3/1/24 | 130,000 | 128,797 |
Insured: AGM | ||
3.00%, due 3/1/25 | 150,000 | 147,603 |
30,201,410 | ||
Maine 0.2% | ||
Finance Authority of Maine, Supplemental Education Loan Program, Revenue Bonds (b) | ||
Insured: AGM | ||
5.00%, due 12/1/22 | 500,000 | 500,656 |
Insured: AGM | ||
5.00%, due 12/1/23 | 545,000 | 552,915 |
Insured: AGM | ||
5.00%, due 12/1/24 | 520,000 | 531,751 |
Insured: AGM | ||
5.00%, due 12/1/25 | 475,000 | 488,984 |
2,074,306 | ||
Maryland 1.6% | ||
Maryland Economic Development Corp., Terminal Project, Revenue Bonds | ||
3.40%, due 6/1/23 | 750,000 | 740,777 |
Series B | ||
3.60%, due 6/1/23 | 3,925,000 | 3,881,151 |
3.70%, due 6/1/25 | 1,000,000 | 952,593 |
Maryland Economic Development Corp., University of Maryland, College Park Projects, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 6/1/25 | 300,000 | 303,178 |
Maryland Health & Higher Educational Facilities Authority, Johns Hopkins University Issue, Revenue Bonds | ||
Series B | ||
5.00%, due 7/1/23 | 345,000 | 349,053 |
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 | $ 204,301 |
5.00%, due 6/1/30 | 350,000 | 356,605 |
State of Maryland, Unlimited General Obligation | ||
Series C | ||
0.41%, due 8/1/23 | 8,800,000 | 8,540,208 |
State of Maryland, Unlimited General Obligation, Second Series | ||
Series A | ||
5.00%, due 8/1/25 | 6,700,000 | 7,007,512 |
22,335,378 | ||
Massachusetts 0.4% | ||
City of Fall River MA, Qualified Municipal Purpose Loan, Limited General Obligation | ||
Insured: State Aid Withholding | ||
5.00%, due 12/1/26 | 350,000 | 371,965 |
Insured: State Aid Withholding | ||
5.00%, due 12/1/27 | 315,000 | 338,196 |
Massachusetts Development Finance Agency, South Shore Hospital Issue, Revenue Bonds | ||
Series I | ||
5.00%, due 7/1/23 | 555,000 | 559,658 |
Massachusetts Educational Financing Authority, Revenue Bonds, Senior Lien | ||
Series B | ||
5.00%, due 7/1/25 (b) | 100,000 | 102,175 |
Massachusetts Educational Financing Authority, Revenue Bonds | ||
5.00%, due 1/1/27 (b) | 3,000,000 | 3,041,602 |
Massachusetts State College Building Authority, Capital Appreciation, Revenue Bonds | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 5/1/23 | 145,000 | 142,672 |
Southfield Redevelopment Authority, Revenue Bonds | ||
Series A, Insured: BAM | ||
6.00%, due 8/15/24 | 455,000 | 475,896 |
30 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Massachusetts (continued) | ||
Southfield Redevelopment Authority, Revenue Bonds (continued) | ||
Series A, Insured: BAM | ||
6.00%, due 8/15/25 | $ 455,000 | $ 483,436 |
5,515,600 | ||
Michigan 1.4% | ||
Allen Park Public School District, Unlimited General Obligation | ||
Insured: Q-SBLF | ||
5.00%, due 5/1/24 | 630,000 | 644,375 |
Allendale Public School District, Unlimited General Obligation | ||
Insured: Q-SBLF | ||
5.00%, due 11/1/22 | 525,000 | 525,000 |
City of Manistee MI, Limited General Obligation | ||
Insured: AGM | ||
3.00%, due 10/1/24 | 200,000 | 197,373 |
Insured: AGM | ||
3.00%, due 10/1/25 | 170,000 | 166,649 |
City of Port Huron MI, Water Supply System, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 10/1/24 | 200,000 | 201,895 |
Insured: AGM | ||
4.00%, due 10/1/25 | 210,000 | 214,325 |
City of Saginaw MI, Water Supply System, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 7/1/27 | 905,000 | 921,765 |
City of Taylor MI, Michigan Transportation, Limited General Obligation | ||
Insured: BAM | ||
4.00%, due 3/1/28 | 900,000 | 911,991 |
County of Genesee MI, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 6/1/23 | 150,000 | 149,373 |
Series A, Insured: BAM | ||
3.00%, due 6/1/24 | 160,000 | 157,083 |
Fitzgerald Public School District, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 5/1/24 | 870,000 | 877,132 |
Principal Amount | Value | |
Michigan (continued) | ||
Flint Public Library, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 5/1/26 | $ 10,000 | $ 9,811 |
Jackson County Intermediate School District, School Building and Site Bonds, Limited General Obligation | ||
Insured: AGM | ||
5.00%, due 5/1/27 | 275,000 | 291,459 |
Lake Superior State University, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 11/15/25 | 760,000 | 764,022 |
Insured: AGM | ||
4.00%, due 11/15/27 | 815,000 | 815,442 |
Michigan Finance Authority, Revenue Bonds, Senior Lien | ||
Series A-1 | ||
2.326%, due 6/1/30 | 3,982,286 | 3,565,702 |
Michigan Finance Authority, Tobacco Settlement Asset-Backed, Revenue Bonds, Senior Lien | ||
Series A, Class 1 | ||
4.00%, due 6/1/23 | 610,000 | 610,228 |
Michigan Finance Authority, Energy Conservation Local Project, Revenue Bonds | ||
Series B | ||
4.00%, due 6/15/23 | 240,000 | 241,066 |
Series B | ||
4.00%, due 6/15/24 | 270,000 | 272,782 |
Series B | ||
4.00%, due 6/15/25 | 200,000 | 202,154 |
Series B | ||
4.00%, due 6/15/26 | 385,000 | 390,198 |
Michigan Finance Authority, County of Wayne Criminal Center Justice Project, Revenue Bonds, Senior Lien | ||
5.00%, due 11/1/22 | 500,000 | 500,000 |
Michigan Finance Authority, Student Loan Program, Revenue Bonds | ||
Series 25-A | ||
5.00%, due 11/1/22 (b) | 1,775,000 | 1,775,000 |
Michigan Finance Authority, Kettering University Project, Revenue Bonds | ||
5.00%, due 9/1/24 | 200,000 | 203,738 |
5.00%, due 9/1/27 | 550,000 | 570,387 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Michigan (continued) | ||
Michigan Finance Authority, Kettering University Project, Revenue Bonds (continued) | ||
5.00%, due 9/1/28 | $ 500,000 | $ 521,431 |
Michigan Strategic Fund, State of Michigan Department of Technology Management & Budget, Revenue Bonds | ||
5.00%, due 3/1/27 | 1,000,000 | 1,033,659 |
South Huron Valley Utility Authority, Revenue Bonds | ||
Insured: BAM | ||
3.00%, due 5/1/23 | 480,000 | 479,064 |
Insured: BAM | ||
4.00%, due 5/1/24 | 500,000 | 504,900 |
Insured: BAM | ||
4.00%, due 5/1/25 | 515,000 | 519,868 |
Universal Academy, Michigan Public School Academy, Revenue Bonds | ||
2.00%, due 12/1/26 | 425,000 | 395,108 |
18,632,980 | ||
Minnesota 0.6% | ||
Kenyon Wanamingo Independent School District No. 2172, Unlimited General Obligation | ||
Series A, Insured: SD CRED PROG | ||
3.00%, due 2/1/23 | 830,000 | 829,062 |
Minneapolis-St. Paul Metropolitan Airports Commission, Revenue Bonds | ||
Series B | ||
5.00%, due 1/1/23 | 200,000 | 200,532 |
Minnesota Office of Higher Education, Supplemental Student Loan Program, Revenue Bonds | ||
5.00%, due 11/1/24 (b) | 590,000 | 601,714 |
Rochester Independent School District No. 535, Unlimited General Obligation | ||
Insured: SD CRED PROG | ||
4.00%, due 2/1/29 | 3,000,000 | 3,087,008 |
Southern Minnesota Municipal Power Agency, Capital Appreciation, Revenue Bonds | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 1/1/25 | 2,250,000 | 2,074,475 |
Principal Amount | Value | |
Minnesota (continued) | ||
State of Minnesota, Unlimited General Obligation | ||
Series B | ||
5.00%, due 8/1/28 | $ 1,540,000 | $ 1,675,819 |
8,468,610 | ||
Mississippi 0.3% | ||
City of Jackson MS, Unlimited General Obligation | ||
5.00%, due 3/1/23 | 325,000 | 326,740 |
Mississippi Development Bank, Hinds County School District Project, Revenue Bonds | ||
4.00%, due 3/1/24 | 330,000 | 332,431 |
Mississippi Development Bank, Madison County Highway Project, Revenue Bonds | ||
Series C | ||
5.00%, due 1/1/26 | 2,210,000 | 2,306,650 |
Mississippi Development Bank, Municipal Energy Agency of Mississippi Power Supply Refunding Project, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 3/1/27 | 300,000 | 311,666 |
West Rankin Utility Authority, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 1/1/26 | 435,000 | 450,866 |
3,728,353 | ||
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 | 1,029,936 |
Series C | ||
5.00%, due 9/1/27 | 1,000,000 | 1,061,789 |
Series C | ||
5.00%, due 9/1/28 | 675,000 | 723,047 |
City of St Louis MO, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
5.00%, due 2/15/30 | 400,000 | 417,596 |
32 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Missouri (continued) | ||
Health & Educational Facilities Authority of the State of Missouri, Lake Regional Health System, Revenue Bonds | ||
5.00%, due 2/15/27 | $ 250,000 | $ 256,424 |
5.00%, due 2/15/28 | 260,000 | 267,855 |
Kansas City Municipal Assistance Corp., Capital Appreciation, Revenue Bonds | ||
Insured: AGC-ICC AMBAC | ||
(zero coupon), due 4/15/23 | 880,000 | 867,022 |
Lincoln University, Auxiliary System, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 6/1/23 | 320,000 | 323,076 |
4,946,745 | ||
Montana 0.1% | ||
Gallatin County School District No. 72 Ophir, Unlimited General Obligation | ||
4.00%, due 7/1/26 | 750,000 | 761,356 |
State of Montana, Unlimited General Obligation | ||
Series C | ||
5.00%, due 8/1/24 | 440,000 | 453,371 |
1,214,727 | ||
Nebraska 0.3% | ||
Ashland-Greenwood Public Schools, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 12/15/23 | 100,000 | 100,797 |
Insured: AGM | ||
4.00%, due 12/15/24 | 100,000 | 101,357 |
Insured: AGM | ||
4.00%, due 12/15/25 | 100,000 | 101,594 |
Insured: AGM | ||
4.00%, due 12/15/26 | 135,000 | 137,407 |
Central Plains Energy Project, Revenue Bonds | ||
2.50%, due 12/1/49 (a) | 1,550,000 | 1,468,091 |
Cheyenne County School District No. 1, Unlimited General Obligation | ||
Series B, Insured: AGM | ||
4.00%, due 12/15/22 | 585,000 | 585,540 |
Series B, Insured: AGM | ||
4.00%, due 12/15/23 | 650,000 | 654,896 |
Principal Amount | Value | |
Nebraska (continued) | ||
Lincoln Airport Authority, Revenue Bonds | ||
5.00%, due 7/1/23 | $ 55,000 | $ 55,526 |
5.00%, due 7/1/26 | 790,000 | 812,722 |
Omaha Airport Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 12/15/22 (b) | 620,000 | 620,939 |
4,638,869 | ||
Nevada 0.6% | ||
Clark County School District, Limited General Obligation | ||
Series A, Insured: AGM | ||
3.00%, due 6/15/23 | 650,000 | 648,444 |
Series A, Insured: AGM | ||
3.00%, due 6/15/24 | 650,000 | 644,068 |
Series A, Insured: AGM | ||
5.00%, due 6/15/25 | 3,780,000 | 3,928,627 |
Series D | ||
5.00%, due 6/15/27 | 275,000 | 275,554 |
Las Vegas Convention & Visitors Authority, Revenue Bonds | ||
Series B | ||
5.00%, due 7/1/23 | 150,000 | 151,436 |
5.00%, due 7/1/26 | 2,000,000 | 2,092,825 |
Series B | ||
5.00%, due 7/1/29 | 290,000 | 308,502 |
Washoe County School District, School Improvement Bonds, Limited General Obligation | ||
Series A | ||
5.00%, due 10/1/23 | 535,000 | 543,569 |
8,593,025 | ||
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 | 601,525 |
New Jersey 4.5% | ||
Atlantic City Board of Education, Unlimited General Obligation | ||
Insured: AGM SCH BD RES FD | ||
4.00%, due 4/1/24 | 325,000 | 327,753 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New Jersey (continued) | ||
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 | $ 226,119 |
City of Bridgeton NJ, General Improvement and Water\Sewer Utility Bonds, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 3/1/27 | 390,000 | 374,580 |
Insured: BAM | ||
3.00%, due 3/1/28 | 855,000 | 811,455 |
City of Millville NJ, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 11/1/23 | 250,000 | 249,509 |
City of Newark NJ, Unlimited General Obligation | ||
Series A, Insured: AGM State Aid Withholding | ||
5.00%, due 10/1/24 | 1,000,000 | 1,023,729 |
Series B, Insured: AGM SCH BD RES FD | ||
5.00%, due 10/1/24 | 1,150,000 | 1,177,288 |
Series C, Insured: AGM State Aid Withholding | ||
5.00%, due 10/1/24 | 145,000 | 148,441 |
Series A, Insured: AGM State Aid Withholding | ||
5.00%, due 10/1/25 | 1,400,000 | 1,451,313 |
City of Perth Amboy NJ, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 7/1/23 | 735,000 | 743,489 |
Insured: AGM | ||
5.00%, due 7/1/24 | 760,000 | 780,455 |
City of Union City NJ, Unlimited General Obligation | ||
Insured: AGM State Aid Withholding | ||
0.05%, due 8/1/24 | 1,210,000 | 1,106,601 |
Insured: AGM State Aid Withholding | ||
2.25%, due 8/1/25 | 910,000 | 858,097 |
Principal Amount | Value | |
New Jersey (continued) | ||
Essex County Improvement Authority, North Star Academy Charter School Project, Revenue Bonds (c) | ||
2.37%, due 8/1/23 | $ 500,000 | $ 485,803 |
2.72%, due 8/1/24 | 500,000 | 469,633 |
3.00%, due 8/1/25 | 700,000 | 638,995 |
4.00%, due 7/15/24 | 200,000 | 198,068 |
4.00%, due 7/15/26 | 385,000 | 375,855 |
Garden State Preservation Trust, Revenue Bonds | ||
Series B, Insured: AGM | ||
(zero coupon), due 11/1/22 | 140,000 | 140,000 |
Series A | ||
5.00%, due 11/1/22 | 1,200,000 | 1,200,000 |
Garden State Preservation Trust, Capital Appreciation, Revenue Bonds | ||
Series B, Insured: AGM | ||
(zero coupon), due 11/1/23 | 175,000 | 169,097 |
Greater Egg Harbor Regional High School District, Unlimited General Obligation | ||
Insured: AGM SCH BD RES FD | ||
5.00%, due 2/1/23 | 650,000 | 652,665 |
Manchester Township Board of Education, Unlimited General Obligation | ||
Insured: BAM SCH BD RES FD | ||
4.00%, due 3/1/23 | 355,000 | 355,700 |
Morris-Union Jointure Commission, Certificate of Participation | ||
Insured: AGM | ||
5.00%, due 8/1/26 | 420,000 | 424,660 |
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 | 1,375,171 |
New Jersey Economic Development Authority, Facilities Construction, Revenue Bonds | ||
Series FFF | ||
5.00%, due 6/15/23 | 750,000 | 756,091 |
New Jersey Economic Development Authority, School Facilities Construction, Revenue Bonds | ||
Series QQQ | ||
5.00%, due 6/15/23 | 220,000 | 221,787 |
34 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New Jersey (continued) | ||
New Jersey Economic Development Authority, School Facilities Construction, Revenue Bonds (continued) | ||
Series QQQ | ||
5.00%, due 6/15/24 | $ 300,000 | $ 305,925 |
New Jersey Economic Development Authority, New Jersey Transit Corp., Revenue Bonds | ||
Series B | ||
5.00%, due 11/1/25 | 4,035,000 | 4,155,654 |
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 | 285,158 |
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 | 1,522,016 |
New Jersey Educational Facilities Authority, Stockton University, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 7/1/25 | 2,825,000 | 2,915,245 |
New Jersey Higher Education Student Assistance Authority, Revenue Bonds, Senior Lien | ||
Series B | ||
5.00%, due 12/1/25 (b) | 250,000 | 255,685 |
New Jersey Housing & Mortgage Finance Agency, Amity Heights Apartments, Revenue Bonds | ||
Series A, Insured: HUD Sector 8 | ||
3.50%, due 7/1/25 (a) | 10,067,000 | 9,939,997 |
New Jersey Transportation Trust Fund Authority, Transportation System, Revenue Bonds | ||
Series A | ||
(zero coupon), due 12/15/24 | 560,000 | 514,182 |
Insured: AMBAC | ||
(zero coupon), due 12/15/26 | 1,000,000 | 842,224 |
Series A | ||
5.00%, due 6/15/24 | 1,100,000 | 1,121,725 |
Principal Amount | Value | |
New Jersey (continued) | ||
New Jersey Transportation Trust Fund Authority, Transportation System, Revenue Bonds (continued) | ||
Series D | ||
5.00%, due 12/15/24 | $ 960,000 | $ 981,079 |
New Jersey Transportation Trust Fund Authority, Capital Appreciation, Transportation System, Revenue Bonds | ||
Series A | ||
(zero coupon), due 12/15/25 | 390,000 | 342,943 |
New Jersey Transportation Trust Fund Authority, Capital Appreciation, Revenue Bonds | ||
Series C, Insured: AGC-ICC AMBAC | ||
(zero coupon), due 12/15/25 | 410,000 | 361,634 |
New Jersey Transportation Trust Fund Authority, Highway Reimbursement Notes, Revenue Bonds | ||
5.00%, due 6/15/23 | 355,000 | 357,970 |
Series A1 | ||
5.00%, due 6/15/25 | 1,360,000 | 1,399,022 |
Series A | ||
5.00%, due 6/15/30 | 4,110,000 | 4,221,594 |
5.00%, due 6/15/31 | 500,000 | 512,194 |
Newark Board of Education, School Energy Saving, Unlimited General Obligation | ||
Insured: BAM SCH BD RES FD | ||
5.00%, due 7/15/26 | 775,000 | 813,497 |
Insured: BAM SCH BD RES FD | ||
5.00%, due 7/15/28 | 750,000 | 801,232 |
Insured: BAM SCH BD RES FD | ||
5.00%, due 7/15/29 | 1,350,000 | 1,454,985 |
Passaic Valley Sewerage Commission, Revenue Bonds | ||
Series H, Insured: AGM | ||
5.00%, due 12/1/23 | 2,190,000 | 2,226,467 |
Plumsted Township School District, Unlimited General Obligation | ||
Insured: AGM SCH BD RES FD | ||
4.00%, due 7/15/23 | 440,000 | 442,179 |
Salem County Improvement Authority, Finlaw State Office Building Project, Revenue Bonds | ||
Insured: AGM MUN GOVT GTD | ||
4.00%, due 8/15/27 | 505,000 | 505,736 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New Jersey (continued) | ||
Salem County Improvement Authority, Finlaw State Office Building Project, Revenue Bonds (continued) | ||
Insured: AGM MUN GOVT GTD | ||
4.00%, due 8/15/28 | $ 400,000 | $ 398,340 |
Insured: AGM MUN GOVT GTD | ||
4.00%, due 8/15/29 | 300,000 | 297,711 |
South Jersey Transportation Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 11/1/27 | 500,000 | 506,564 |
Series A | ||
5.00%, due 11/1/28 | 750,000 | 759,564 |
Series A | ||
5.00%, due 11/1/29 | 1,200,000 | 1,214,659 |
State of New Jersey, Various Purpose, Unlimited General Obligation | ||
5.00%, due 6/1/24 | 250,000 | 255,953 |
State of New Jersey, Unlimited General Obligation | ||
5.00%, due 6/1/27 | 2,910,000 | 3,086,876 |
Tobacco Settlement Financing Corp., Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/23 | 1,000,000 | 1,007,047 |
Township of Irvington NJ, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 6/1/25 | 200,000 | 196,182 |
60,743,593 | ||
New Mexico 0.2% | ||
Albuquerque Municipal School District No. 12, Unlimited General Obligation | ||
Insured: State Aid Withholding | ||
5.00%, due 8/1/23 | 1,165,000 | 1,179,781 |
County of Colfax NM, Tax Receipts, Revenue Bonds | ||
Insured: BAM | ||
3.00%, due 8/1/23 | 270,000 | 267,983 |
Insured: BAM | ||
3.00%, due 8/1/24 | 280,000 | 275,321 |
Village of Los Ranchos de Albuquerque NM, Albuquerque Academy Project, Revenue Bonds | ||
4.00%, due 9/1/23 | 135,000 | 135,276 |
Principal Amount | Value | |
New Mexico (continued) | ||
Village of Los Ranchos de Albuquerque NM, Albuquerque Academy Project, Revenue Bonds (continued) | ||
4.00%, due 9/1/24 | $ 100,000 | $ 100,348 |
4.00%, due 9/1/25 | 150,000 | 150,696 |
5.00%, due 9/1/26 | 170,000 | 176,972 |
2,286,377 | ||
New York 5.3% | ||
Albany County Airport Authority, Revenue Bonds | ||
Series B | ||
5.00%, due 12/15/22 (b) | 250,000 | 250,348 |
Series B | ||
5.00%, due 12/15/23 (b) | 200,000 | 202,452 |
Series A | ||
5.00%, due 12/15/24 | 60,000 | 62,022 |
Series A | ||
5.00%, due 12/15/24 | 480,000 | 494,286 |
Amherst Development Corp., UBF Faculty-Student Housing Corp., Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 10/1/26 | 340,000 | 356,862 |
Camden Central School District, Unlimited General Obligation | ||
Insured: State Aid Withholding | ||
4.00%, due 3/15/23 | 635,000 | 636,729 |
Insured: BAM State Aid Withholding | ||
4.00%, due 3/15/25 | 765,000 | 774,170 |
City of Elmira City NY, Public Improvement, Limited General Obligation | ||
Insured: AGM | ||
4.00%, due 5/1/28 | 355,000 | 361,345 |
Insured: AGM | ||
4.00%, due 5/1/29 | 140,000 | 142,580 |
City of Long Beach NY, Limited General Obligation | ||
Series B | ||
5.25%, due 7/15/26 | 300,000 | 311,045 |
Series B | ||
5.50%, due 7/15/24 | 200,000 | 205,034 |
Series B | ||
5.50%, due 7/15/25 | 125,000 | 129,433 |
36 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New York (continued) | ||
City of New York NY, Unlimited General Obligation | ||
Series B-1 | ||
4.00%, due 10/1/24 | $ 300,000 | $ 304,010 |
City of Olean NY, Limited General Obligation | ||
Insured: AGM | ||
4.00%, due 8/1/25 | 415,000 | 420,613 |
County of Rockland NY, Public Improvement, Limited General Obligation | ||
Series C, Insured: AGM | ||
4.00%, due 5/1/23 | 2,000,000 | 2,008,699 |
County of Suffolk NY, Limited General Obligation | ||
Series C, Insured: BAM | ||
5.00%, due 2/1/23 | 495,000 | 497,079 |
County of Suffolk NY, Public Improvement, Limited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 6/1/26 | 635,000 | 666,717 |
Genesee Valley Central School District, Unlimited General Obligation | ||
Insured: AGM State Aid Withholding | ||
5.00%, due 6/15/29 | 1,540,000 | 1,663,298 |
Insured: AGM State Aid Withholding | ||
5.00%, due 6/15/30 | 1,565,000 | 1,701,937 |
Long Island Power Authority, Electric System, Revenue Bonds | ||
Series A, Insured: AGM | ||
(zero coupon), due 6/1/23 | 160,000 | 156,944 |
Metropolitan Transportation Authority, Revenue Bonds | ||
Series A | ||
4.00%, due 11/15/26 | 225,000 | 229,849 |
Series A-1 | ||
5.00%, due 2/1/23 | 250,000 | 250,850 |
Series A | ||
5.00%, due 11/15/26 | 1,225,000 | 1,226,214 |
Series D | ||
5.00%, due 11/15/26 | 2,500,000 | 2,501,317 |
Series B, Insured: AMBAC | ||
5.25%, due 11/15/24 | 7,695,000 | 7,907,787 |
Principal Amount | Value | |
New York (continued) | ||
Metropolitan Transportation Authority, Green Bond, Revenue Bonds | ||
Series B | ||
5.00%, due 11/15/23 | $ 1,245,000 | $ 1,261,529 |
Monroe County Industrial Development Corp., Rochester Regional Health Project, Revenue Bonds | ||
5.00%, due 12/1/23 | 700,000 | 710,017 |
Mount Vernon City School District, Unlimited General Obligation | ||
Insured: State Aid Withholding | ||
5.00%, due 8/15/26 | 1,040,000 | 1,089,688 |
New York City Industrial Development Agency, Yankee Stadium Project, Revenue Bonds | ||
Insured: NATL-RE | ||
9.123%, due 3/1/24 (f) | 500,000 | 501,323 |
New York State Dormitory Authority, Interagency Coumcil Pooled Loan Program, Revenue Bonds | ||
4.00%, due 7/1/23 | 430,000 | 431,661 |
New York State Dormitory Authority, St Joseph's College, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/23 | 880,000 | 884,966 |
New York State Dormitory Authority, Revenue Bonds | ||
Series A, Insured: State Aid Withholding | ||
5.00%, due 10/1/23 | 4,150,000 | 4,214,591 |
New York State Dormitory Authority, Montefiore Obligated Group, Revenue Bonds | ||
5.00%, due 8/1/25 | 1,535,000 | 1,542,759 |
New York State Dormitory Authority, State Personal Income Tax, Revenue Bonds | ||
Series E | ||
5.00%, due 2/15/26 | 2,400,000 | 2,492,222 |
New York State Energy Research & Development Authority, Green Bond, Revenue Bonds | ||
Series A | ||
3.745%, due 4/1/24 | 1,100,000 | 1,078,196 |
Series A | ||
3.845%, due 4/1/25 | 1,100,000 | 1,062,943 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New York (continued) | ||
New York State Urban Development Corp., Personal Income Tax, Revenue Bonds | ||
Series B | ||
3.32%, due 3/15/29 | $ 3,000,000 | $ 2,708,957 |
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 | 4,336,056 |
New York Transportation Development Corp., Terminal One Group Association LP, Revenue Bonds | ||
5.00%, due 1/1/23 (b) | 2,150,000 | 2,152,576 |
New York Transportation Development Corp., John F. kennedy International Airport Project, Revenue Bonds | ||
5.00%, due 12/1/24 (b) | 3,375,000 | 3,414,211 |
5.00%, due 12/1/25 (b) | 3,690,000 | 3,744,078 |
5.00%, due 12/1/25 | 1,600,000 | 1,643,366 |
New York Transportation Development Corp., Terminal 4 JFK International Airport Project, Revenue Bonds (b) | ||
5.00%, due 12/1/26 | 5,000,000 | 5,060,225 |
5.00%, due 12/1/29 | 4,000,000 | 3,983,728 |
5.00%, due 12/1/30 | 1,000,000 | 994,373 |
Niagara Falls City School District, Certificate of Participation | ||
Insured: AGM | ||
4.00%, due 6/15/26 | 50,000 | 50,248 |
Niagara Frontier Transportation Authority, Revenue Bonds | ||
5.00%, due 4/1/23 (b) | 825,000 | 829,384 |
Onondaga Civic Development Corp., Upstate Properties Development, Inc. Project, Revenue Bonds | ||
Insured: BAM | ||
1.078%, due 12/1/23 | 690,000 | 662,987 |
Insured: BAM | ||
1.167%, due 12/1/24 | 700,000 | 649,239 |
Port Authority of New York & New Jersey, Revenue Bonds | ||
Series 178 | ||
5.00%, due 12/1/25 (b) | 265,000 | 267,698 |
Principal Amount | Value | |
New York (continued) | ||
Suffolk Tobacco Asset Securitization Corp., Tobacco Settlement, Asset Backed, Revenue Bonds | ||
Series B-1 | ||
0.45%, due 6/1/31 | $ 425,000 | $ 421,905 |
Town of Oyster Bay NY, Limited General Obligation | ||
4.00%, due 11/1/22 | 945,000 | 945,000 |
Insured: AGM | ||
4.00%, due 3/1/25 | 2,295,000 | 2,326,235 |
72,921,781 | ||
North Carolina 0.3% | ||
North Carolina Capital Facilities Finance Agency, Campbell University, Revenue Bonds | ||
Series B | ||
1.05%, due 10/1/23 | 1,000,000 | 958,243 |
North Carolina Capital Facilities Finance Agency, High Point University, Revenue Bonds | ||
5.00%, due 5/1/25 | 240,000 | 247,467 |
5.00%, due 5/1/26 | 275,000 | 286,066 |
5.00%, due 5/1/27 | 395,000 | 413,787 |
5.00%, due 5/1/28 | 400,000 | 421,243 |
North Carolina Turnpike Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/23 | 250,000 | 251,819 |
Raleigh Durham Airport Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 5/1/28 (b) | 1,205,000 | 1,247,890 |
Winston-Salem State University, Student Housing Project, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 6/1/24 | 500,000 | 511,906 |
4,338,421 | ||
North Dakota 0.1% | ||
City of Grand Forks ND, Altru Health System Obligated Group, Revenue Bonds | ||
5.00%, due 12/1/26 | 275,000 | 283,460 |
38 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
North Dakota (continued) | ||
University of North Dakota, Certificate of Participation | ||
Series A, Insured: AGM | ||
5.00%, due 6/1/24 | $ 800,000 | $ 819,050 |
1,102,510 | ||
Ohio 2.6% | ||
Akron Bath Copley Joint Township Hospital District, Summa Health System Obligated Group, Revenue Bonds | ||
5.00%, due 11/15/25 | 250,000 | 256,047 |
5.00%, due 11/15/26 | 400,000 | 412,201 |
Bethel Local School District, School Facilities, Certificate of Participation | ||
Insured: BAM | ||
4.00%, due 12/1/22 | 120,000 | 120,063 |
Buckeye Tobacco Settlement Financing Authority, Revenue Bonds, Senior Lien | ||
Series A-1 | ||
2.00%, due 6/1/27 | 5,370,000 | 4,609,627 |
City of Cleveland OH, Airport System, Revenue Bonds | ||
Series B | ||
5.00%, due 1/1/23 (b) | 400,000 | 400,990 |
Series C | ||
5.00%, due 1/1/24 | 430,000 | 437,429 |
City of Dayton OH, Airport, Revenue Bonds (b) | ||
Series A, Insured: AGM | ||
5.00%, due 12/1/23 | 1,155,000 | 1,156,262 |
Insured: AGM | ||
5.00%, due 12/1/25 | 585,000 | 585,356 |
City of Lorain OH, Limited General Obligation | ||
Insured: BAM | ||
3.00%, due 12/1/22 | 300,000 | 299,911 |
Series A, Insured: BAM | ||
4.00%, due 12/1/23 | 300,000 | 302,000 |
City of Middleburg Heights OH, Southwest General Health Center Project, Revenue Bonds | ||
4.00%, due 8/1/24 | 180,000 | 180,549 |
4.00%, due 8/1/25 | 150,000 | 150,697 |
Principal Amount | Value | |
Ohio (continued) | ||
City of Sharonville OH, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 12/1/22 | $ 300,000 | $ 300,204 |
Insured: BAM | ||
4.00%, due 12/1/23 | 580,000 | 584,173 |
Insured: BAM | ||
4.00%, due 12/1/24 | 745,000 | 754,204 |
Insured: BAM | ||
4.00%, due 12/1/25 | 715,000 | 726,338 |
Cleveland-Cuyahoga County Port Authority, Cleveland Museum of Natural History Project, Revenue Bonds | ||
5.00%, due 7/1/25 | 125,000 | 129,411 |
5.00%, due 7/1/26 | 125,000 | 130,627 |
5.00%, due 7/1/27 | 125,000 | 131,616 |
5.00%, due 7/1/28 | 125,000 | 132,442 |
Cloverleaf Local School District, Certificate of Participation | ||
Insured: BAM | ||
3.00%, due 12/1/22 | 355,000 | 354,851 |
Insured: BAM | ||
4.00%, due 12/1/26 | 275,000 | 279,029 |
County of Lucas OH, Revenue Notes | ||
5.25%, due 10/13/23 | 12,130,000 | 12,110,409 |
Hillsdale Local School District, School Facilities Project, Certificate of Participation | ||
Insured: BAM | ||
4.00%, due 12/1/22 | 1,200,000 | 1,200,700 |
Ironton City School District, Unlimited General Obligation | ||
Insured: SD CRED PROG | ||
(zero coupon), due 12/1/24 | 660,000 | 610,561 |
Lancaster Port Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 8/1/49 (a) | 8,140,000 | 8,238,137 |
State of Ohio, Premier Health Partners Obligated Group, Revenue Bonds | ||
5.00%, due 11/15/24 | 135,000 | 137,330 |
5.00%, due 11/15/25 | 140,000 | 143,507 |
5.00%, due 11/15/26 | 140,000 | 144,323 |
Triway Local School District, Certificate of Participation | ||
Insured: BAM | ||
4.00%, due 12/1/26 | 630,000 | 640,428 |
35,659,422 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Oregon 1.0% | ||
Columbia County School District No. 502, Unlimited General Obligation | ||
Insured: School Bond Guaranty | ||
5.00%, due 6/15/26 | $ 565,000 | $ 596,836 |
County of Yamhill OR, George Fox University Project, Revenue Bonds | ||
4.00%, due 12/1/22 | 175,000 | 175,083 |
4.00%, due 12/1/25 | 780,000 | 783,708 |
Salem-Keizer School District No. 24J, Limited General Obligation | ||
(zero coupon), due 6/15/25 | 1,830,000 | 1,664,724 |
Salem-Keizer School District No. 24J, Unlimited General Obligation | ||
Series B, Insured: School Bond Guaranty | ||
(zero coupon), due 6/15/25 | 6,300,000 | 5,725,124 |
Series B, Insured: School Bond Guaranty | ||
(zero coupon), due 6/15/26 | 2,335,000 | 2,038,783 |
Warm Springs Reservation Confederated Tribe, Pelton-Round Butte Project, Revenue Bonds (c) | ||
2.015%, due 11/1/25 | 750,000 | 687,604 |
2.165%, due 11/1/26 | 1,000,000 | 897,193 |
2.37%, due 11/1/27 | 1,000,000 | 878,386 |
13,447,441 | ||
Pennsylvania 3.8% | ||
Borough of Quakertown PA, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 2/1/23 | 275,000 | 275,472 |
Brownsville Area School District, Limited General Obligation | ||
Insured: AGM State Aid Withholding | ||
4.00%, due 11/15/22 | 375,000 | 375,100 |
City of Allentown PA, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 10/1/23 | 410,000 | 411,985 |
City of Philadelphia PA, Airport, Revenue Bonds | ||
5.00%, due 7/1/25 (b) | 1,750,000 | 1,788,951 |
Principal Amount | Value | |
Pennsylvania (continued) | ||
City of Pittston PA, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
1.00%, due 11/15/22 | $ 125,000 | $ 124,850 |
Series A, Insured: BAM | ||
4.00%, due 11/15/23 | 175,000 | 175,451 |
Series A, Insured: BAM | ||
4.00%, due 11/15/24 | 265,000 | 265,475 |
Series A, Insured: BAM | ||
4.00%, due 11/15/25 | 275,000 | 275,360 |
City of Reading PA, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
5.00%, due 11/1/24 | 1,665,000 | 1,710,950 |
City of Williamsport PA, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 7/1/25 | 25,000 | 25,960 |
Coatesville School District, Limited General Obligation | ||
Insured: AGM State Aid Withholding | ||
5.00%, due 8/1/24 | 625,000 | 641,632 |
Commonwealth Financing Authority, Tobacco Master Settlement Payment, Revenue Bonds | ||
5.00%, due 6/1/25 | 1,500,000 | 1,537,649 |
County of Lackawanna PA, Unlimited General Obligation | ||
Series B, Insured: BAM | ||
3.00%, due 9/15/29 | 100,000 | 94,709 |
County of Lawrence PA, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
5.00%, due 5/15/24 | 15,000 | 15,346 |
Deer Creek Drainage Basin Authority, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 12/1/25 | 365,000 | 381,564 |
Insured: AGM | ||
5.00%, due 12/1/26 | 265,000 | 279,766 |
Indiana County Industrial Development Authority, Foundation for Indiana University of Pennsylvania (The), Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 5/1/23 | 110,000 | 110,611 |
Insured: BAM | ||
5.00%, due 5/1/24 | 110,000 | 111,690 |
40 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Pennsylvania (continued) | ||
Laurel Highlands School District, Limited General Obligation | ||
Insured: BAM State Aid Withholding | ||
4.00%, due 2/1/23 | $ 300,000 | $ 300,359 |
Insured: BAM State Aid Withholding | ||
4.00%, due 2/1/24 | 315,000 | 316,616 |
Insured: BAM State Aid Withholding | ||
4.00%, due 2/1/25 | 345,000 | 348,803 |
Mckeesport Area School District, Capital Appreciation, Unlimited General Obligation | ||
Series C, Insured: AMBAC State Aid Withholding | ||
(zero coupon), due 10/1/28 | 145,000 | 111,030 |
Mount Union Area School District, Limited General Obligation | ||
Insured: BAM State Aid Withholding | ||
4.00%, due 8/1/24 | 915,000 | 921,800 |
Municipality of Norristown PA, Unlimited General Obligation | ||
Series B, Insured: AGM | ||
4.00%, due 11/1/22 | 460,000 | 460,000 |
Series B, Insured: AGM | ||
4.00%, due 11/1/23 | 480,000 | 483,266 |
North Huntingdon Township Municipal Authority, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 4/1/28 | 200,000 | 214,417 |
Insured: AGM | ||
5.00%, due 4/1/29 | 365,000 | 395,238 |
Norwin School District, Limited General Obligation | ||
Insured: BAM State Aid Withholding | ||
5.00%, due 11/15/22 | 165,000 | 165,101 |
Penn Hills School District, Limited General Obligation | ||
Insured: BAM State Aid Withholding | ||
5.00%, due 10/1/26 | 4,845,000 | 5,079,872 |
Pennsylvania Economic Development Financing Authority, PPL Electric Utilities Corp., Revenue Bonds | ||
0.40%, due 10/1/23 | 4,800,000 | 4,606,123 |
Pennsylvania Economic Development Financing Authority, Water & Wastewater, Revenue Bonds | ||
3.00%, due 1/1/23 | 745,000 | 744,272 |
Principal Amount | Value | |
Pennsylvania (continued) | ||
Pennsylvania Higher Educational Facilities Authority, Drexel University, Revenue Bonds | ||
5.00%, due 5/1/24 | $ 325,000 | $ 331,891 |
Pennsylvania Turnpike Commission, Revenue Bonds, Second Series | ||
Series B | ||
5.00%, due 6/1/29 | 10,000,000 | 10,378,501 |
Philadelphia Gas Works Co., Revenue Bonds | ||
5.00%, due 10/1/24 | 1,000,000 | 1,024,846 |
Philadelphia Municipal Authority, Revenue Bonds | ||
Series B, Insured: AGM | ||
5.00%, due 1/15/23 | 825,000 | 827,727 |
Pottstown School District, Limited General Obligation | ||
Insured: BAM State Aid Withholding | ||
4.00%, due 6/1/23 | 375,000 | 376,297 |
Insured: BAM State Aid Withholding | ||
4.00%, due 6/1/24 | 650,000 | 655,066 |
Reading School District, Limited General Obligation | ||
Series C, Insured: BAM State Aid Withholding | ||
5.00%, due 4/1/24 | 3,325,000 | 3,390,363 |
School District of Philadelphia (The), Limited General Obligation | ||
Series F, Insured: BAM State Aid Withholding | ||
5.00%, due 9/1/25 | 500,000 | 517,560 |
Series A, Insured: State Aid Withholding | ||
5.00%, due 9/1/26 | 550,000 | 571,563 |
South Wayne County Water and Sewer Authority, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 2/15/26 | 410,000 | 416,422 |
Sports & Exhibition Authority of Pittsburgh and Allegheny County, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 2/1/26 | 2,930,000 | 3,063,926 |
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 | 395,831 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Pennsylvania (continued) | ||
State Public School Building Authority, Crawford County Career and Technical Center, Revenue Bonds (continued) | ||
Insured: BAM State Aid Withholding | ||
4.00%, due 3/1/26 | $ 185,000 | $ 187,858 |
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 | 522,836 |
State Public School Building Authority, Harrisburg School District, Revenue Bonds | ||
Insured: AGM State Aid Withholding | ||
5.00%, due 12/1/23 | 300,000 | 305,412 |
Insured: AGM State Aid Withholding | ||
5.00%, due 12/1/23 | 1,700,000 | 1,729,214 |
State Public School Building Authority, Community College of Allegheny County, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 7/15/24 | 430,000 | 440,099 |
United School District, Unlimited General Obligation | ||
Insured: AGM State Aid Withholding | ||
3.00%, due 11/15/22 | 525,000 | 524,914 |
Valley View School District, Limited General Obligation | ||
Series A, Insured: BAM State Aid Withholding | ||
1.25%, due 5/15/23 | 30,000 | 29,425 |
Series B, Insured: BAM State Aid Withholding | ||
1.55%, due 5/15/24 | 600,000 | 571,100 |
Waverly Township Municipal Authority, Revenue Bonds | ||
Insured: BAM State Aid Withholding | ||
4.00%, due 2/15/26 | 415,000 | 421,371 |
West Cornwall Township Municipal Authority, Lebanon Valley Brethren Home Project, Revenue Bonds | ||
4.00%, due 11/15/22 | 140,000 | 139,980 |
4.00%, due 11/15/24 | 110,000 | 109,024 |
4.00%, due 11/15/25 | 115,000 | 113,351 |
4.00%, due 11/15/26 | 120,000 | 117,330 |
Principal Amount | Value | |
Pennsylvania (continued) | ||
Westmoreland County Industrial Development Authority, Excela Health Project, Revenue Bonds | ||
Series A | ||
4.00%, due 7/1/23 | $ 350,000 | $ 349,561 |
Series A | ||
4.00%, due 7/1/24 | 350,000 | 348,232 |
Wilkinsburg-Penn Joint Water Authority (The), Green Bond, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 9/15/27 | 650,000 | 663,652 |
51,272,770 | ||
Puerto Rico 0.0% ‡ | ||
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 | 466,213 |
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 | 1,004,737 |
Rhode Island Health and Educational Building Corp., Rhode Island School of Design, Revenue Bonds | ||
1.313%, due 8/15/24 | 375,000 | 351,273 |
Rhode Island Health and Educational Building Corp., Lifespan Obligated Group, Revenue Bonds | ||
5.00%, due 5/15/25 | 1,000,000 | 1,010,763 |
Rhode Island Housing and Mortgage Finance Corp., Revenue Bonds | ||
Series 77A | ||
5.00%, due 4/1/26 | 1,000,000 | 1,040,331 |
Series 77A | ||
5.00%, due 10/1/26 | 1,180,000 | 1,233,698 |
Rhode Island Student Loan Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/25 (b) | 1,000,000 | 1,028,271 |
42 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Rhode Island (continued) | ||
Rhode Island Student Loan Authority, Revenue Bonds, Senior Lien | ||
Series A | ||
5.00%, due 12/1/25 (b) | $ 875,000 | $ 894,390 |
6,563,463 | ||
South Carolina 0.6% | ||
Greenville County School District, Building Equity Sooner, Revenue Bonds | ||
5.00%, due 12/1/22 | 130,000 | 130,197 |
Piedmont Municipal Power Agency, Revenue Bonds | ||
Series A | ||
4.00%, due 1/1/25 | 1,350,000 | 1,356,647 |
South Carolina Ports Authority, Revenue Bonds | ||
5.00%, due 7/1/29 | 325,000 | 331,564 |
South Carolina Public Service Authority, Santee Cooper, Revenue Bonds | ||
Series C | ||
5.00%, due 12/1/25 | 2,500,000 | 2,557,178 |
South Carolina Public Service Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/27 | 1,670,000 | 1,726,351 |
Williamsburg County Public Facilities Corp., Williamsburg County Project, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 6/1/23 | 500,000 | 501,385 |
Insured: BAM | ||
4.00%, due 6/1/25 | 1,025,000 | 1,035,856 |
7,639,178 | ||
South Dakota 0.1% | ||
County of Lawrence SD, Certificate of Participation | ||
Insured: AGM | ||
5.00%, due 12/1/22 | 100,000 | 100,141 |
Insured: AGM | ||
5.00%, due 12/1/25 | 125,000 | 130,635 |
Insured: AGM | ||
5.00%, due 12/1/26 | 100,000 | 105,494 |
Principal Amount | Value | |
South Dakota (continued) | ||
South Dakota Health & Educational Facilities Authority, Sanford, Revenue Bonds | ||
1.225%, due 11/1/24 | $ 450,000 | $ 417,312 |
Tri-Valley School District No. 49-6, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 7/15/27 | 200,000 | 212,521 |
Insured: AGM | ||
5.00%, due 7/15/28 | 220,000 | 236,317 |
1,202,420 | ||
Tennessee 0.8% | ||
Memphis-Shelby County Airport Authority, Revenue Bonds | ||
Series C | ||
1.875%, due 7/1/25 (b) | 2,000,000 | 1,829,925 |
5.00%, due 7/1/26 | 155,000 | 158,453 |
Metropolitan Government Nashville & Davidson County Health & Educational Facilities Board, Trevecca Nazarene University Project, Revenue Bonds | ||
Series B | ||
4.00%, due 10/1/26 | 150,000 | 144,575 |
Series B | ||
4.00%, due 10/1/27 | 585,000 | 557,674 |
New Memphis Arena Public Building Authority, City of Memphis, Revenue Bonds | ||
(zero coupon), due 4/1/28 | 1,375,000 | 1,199,527 |
Tennessee Energy Acquisition Corp., Revenue Bonds | ||
4.00%, due 11/1/49 (a) | 7,650,000 | 7,437,987 |
11,328,141 | ||
Texas 8.7% | ||
Alamito Public Facility Corp., EP WH Cien Palmas LLC, Revenue Bonds | ||
Insured: HUD Sector 8 | ||
3.50%, due 9/1/25 (a) | 3,500,000 | 3,435,825 |
Aledo Independent School District, Unlimited General Obligation | ||
Insured: PSF-GTD | ||
(zero coupon), due 2/15/26 | 200,000 | 176,624 |
Alvin Independent School District, Unlimited General Obligation | ||
Series A, Insured: PSF-GTD | ||
5.00%, due 2/15/24 | 90,000 | 92,039 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
Arlington Higher Education Finance Corp., Uplift Education Project, Revenue Bonds | ||
Series A, Insured: PSF-GTD | ||
3.00%, due 12/1/27 | $ 725,000 | $ 684,857 |
Series A, Insured: PSF-GTD | ||
3.00%, due 12/1/28 | 745,000 | 696,446 |
Series A, Insured: PSF-GTD | ||
3.00%, due 12/1/29 | 770,000 | 713,182 |
Arlington Higher Education Finance Corp., Harmony Public Schools, Revenue Bonds | ||
Series C, Insured: PSF-GTD | ||
4.00%, due 2/15/24 | 45,000 | 45,384 |
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 | 437,917 |
Series A, Insured: PSF-GTD | ||
4.00%, due 8/1/28 | 255,000 | 255,403 |
Arlington Higher Education Finance Corp., Faith Family Academy Charter Schools, Revenue Bonds | ||
Series A, Insured: PSF-GTD | ||
4.00%, due 8/15/27 | 135,000 | 135,900 |
Series A, Insured: PSF-GTD | ||
4.00%, due 8/15/29 | 400,000 | 396,481 |
Arlington Higher Education Finance Corp., Great Hearts America - Texas, Revenue Bonds | ||
Series A, Insured: PSF-GTD | ||
5.00%, due 8/15/23 | 355,000 | 359,748 |
Series A, Insured: PSF-GTD | ||
5.00%, due 8/15/24 | 185,000 | 189,733 |
Series A, Insured: PSF-GTD | ||
5.00%, due 8/15/24 | 450,000 | 461,512 |
Belmont Fresh Water Supply District No. 1, Unlimited General Obligation | ||
Insured: AGM | ||
3.50%, due 3/1/23 | 495,000 | 494,814 |
Brazoria County Municipal Utility District No. 19, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 9/1/23 | 410,000 | 407,803 |
Principal Amount | Value | |
Texas (continued) | ||
Brazos Higher Education Authority, Inc., Revenue Bonds | ||
Series 1A | ||
1.305%, due 4/1/24 | $ 750,000 | $ 708,796 |
Central Texas Regional Mobility Authority, Revenue Bonds, Senior Lien | ||
5.00%, due 1/1/26 | 245,000 | 254,078 |
Central Texas Regional Mobility Authority, Revenue Bonds, Sub. Lien | ||
5.00%, due 1/1/27 | 12,655,000 | 12,988,018 |
Cibolo Canyons Special Improvement District, Valorem Tax Utility System, Limited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 8/15/23 | 575,000 | 580,322 |
Cinco Southwest Municipal Utility District No. 1, Unlimited General Obligation | ||
Insured: BAM | ||
2.00%, due 12/1/22 | 470,000 | 469,185 |
Series A, Insured: BAM | ||
2.00%, due 12/1/22 | 275,000 | 274,523 |
City of Alvin TX, Water & Sewer System, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 2/1/24 | 1,225,000 | 1,250,600 |
Insured: AGM | ||
5.00%, due 2/1/25 | 1,225,000 | 1,269,410 |
City of Austin TX, Airport System, Revenue Bonds | ||
5.00%, due 11/15/22 (b) | 200,000 | 200,092 |
Series B | ||
5.00%, due 11/15/24 (b) | 250,000 | 254,412 |
5.00%, due 11/15/25 (b) | 1,630,000 | 1,671,299 |
5.00%, due 11/15/26 | 500,000 | 507,519 |
City of Austin TX, Electric Utility, Revenue Bonds | ||
Series A | ||
5.00%, due 11/15/25 | 35,000 | 36,619 |
City of Dallas TX, Hotel Occupancy Tax, Revenue Bonds | ||
5.00%, due 8/15/24 | 715,000 | 732,293 |
City of Dallas TX Housing Finance Corp., Highpoint at Wynnewood, Revenue Bonds | ||
3.50%, due 2/1/44 (a) | 2,900,000 | 2,790,385 |
44 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
City of Houston TX, Hotel Occupancy Tax & Special Tax, Revenue Bonds | ||
5.00%, due 9/1/23 | $ 1,005,000 | $ 1,017,661 |
5.00%, due 9/1/24 | 3,180,000 | 3,258,104 |
5.00%, due 9/1/25 | 1,000,000 | 1,022,956 |
5.00%, due 9/1/25 | 1,520,000 | 1,577,958 |
5.00%, due 9/1/26 | 430,000 | 450,759 |
City of Houston TX, Airport System, Revenue Bonds, Sub. Lien | ||
Series D | ||
5.00%, due 7/1/24 | 2,000,000 | 2,054,810 |
Series C | ||
5.00%, due 7/1/25 (b) | 805,000 | 823,122 |
Series C | ||
5.00%, due 7/1/27 (b) | 175,000 | 180,481 |
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 | 1,059,712 |
City of Lockhart TX, Limited General Obligation | ||
Insured: BAM | ||
5.00%, due 8/1/25 | 500,000 | 513,018 |
City of Mission TX, Certificates of Obligation, Limited General Obligation | ||
Insured: BAM | ||
5.00%, due 2/15/25 | 900,000 | 929,145 |
Insured: BAM | ||
5.00%, due 2/15/26 | 770,000 | 804,359 |
City of Mission TX, Limited General Obligation | ||
Insured: BAM | ||
5.00%, due 2/15/25 | 570,000 | 588,458 |
Insured: BAM | ||
5.00%, due 2/15/26 | 500,000 | 522,311 |
City of Mount Pleasant TX, Texas Combination Tax and Certificates of Obligation, Limited General Obligation | ||
Insured: AGM | ||
5.00%, due 5/15/28 | 550,000 | 586,409 |
Principal Amount | Value | |
Texas (continued) | ||
City of Rio Grande City TX, Certificates of Obligation, Limited General Obligation | ||
Insured: AGM | ||
4.00%, due 2/15/24 | $ 545,000 | $ 548,210 |
Insured: AGM | ||
4.00%, due 2/15/25 | 610,000 | 615,216 |
City of San Antonio TX, Electric & Gas Systems, Revenue Bonds | ||
5.00%, due 2/1/24 | 2,500,000 | 2,551,014 |
5.00%, due 2/1/25 | 4,250,000 | 4,411,559 |
City of Sugar Land TX, Waterworks & Sewer System, Revenue Bonds | ||
5.00%, due 8/15/25 | 1,960,000 | 2,043,698 |
Clear Lake City Water Authority, Unlimited General Obligation | ||
4.00%, due 3/1/23 | 150,000 | 150,306 |
Clifton Higher Education Finance Corp., IDEA Public Schools, Revenue Bonds | ||
Series A | ||
5.00%, due 8/15/23 | 330,000 | 333,182 |
Series A | ||
5.00%, due 8/15/24 | 340,000 | 346,627 |
Clifton Higher Education Finance Corp., International Leadership of Texas, Revenue Bonds | ||
Insured: PSF-GTD | ||
5.00%, due 8/15/28 | 515,000 | 548,109 |
Insured: PSF-GTD | ||
5.00%, due 8/15/29 | 275,000 | 295,228 |
Comal County Water Control & Improvement District No. 6, Unlimited General Obligation | ||
Insured: BAM | ||
4.50%, due 3/1/24 | 10,000 | 10,139 |
Insured: BAM | ||
4.50%, due 3/1/25 | 135,000 | 138,276 |
Insured: BAM | ||
4.50%, due 3/1/26 | 280,000 | 289,224 |
Insured: BAM | ||
4.50%, due 3/1/27 | 295,000 | 306,483 |
Insured: BAM | ||
4.50%, due 3/1/28 | 305,000 | 318,577 |
Comal Independent School District, Unlimited General Obligation | ||
Insured: PSF-GTD | ||
5.00%, due 2/1/25 | 1,650,000 | 1,710,543 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
Decatur Hospital Authority, Wise Health System, Revenue Bonds | ||
Series B | ||
5.00%, due 9/1/25 | $ 650,000 | $ 666,674 |
Series B | ||
5.00%, due 9/1/26 | 750,000 | 773,206 |
Series B | ||
5.00%, due 9/1/27 | 840,000 | 866,682 |
Series B | ||
5.00%, due 9/1/28 | 845,000 | 873,702 |
Series B | ||
5.00%, due 9/1/29 | 1,070,000 | 1,107,356 |
Denton County Municipal Utility District No. 6, Unlimited General Obligation | ||
Insured: AGM | ||
4.50%, due 9/1/25 | 400,000 | 411,432 |
Insured: AGM | ||
4.50%, due 9/1/25 | 280,000 | 288,003 |
Ector County Hospital District, Limited General Obligation | ||
5.00%, due 9/15/23 | 430,000 | 433,184 |
5.00%, due 9/15/24 | 450,000 | 455,573 |
5.00%, due 9/15/25 | 500,000 | 508,376 |
Ennis Independent School District, Unlimited General Obligation | ||
Insured: PSF-GTD | ||
(zero coupon), due 8/15/26 | 1,385,000 | 1,198,075 |
Insured: PSF-GTD | ||
(zero coupon), due 8/25/30 | 800,000 | 578,548 |
Fort Bend County Municipal Utility District No. 134B, Unlimited General Obligation (e) | ||
Insured: AGM | ||
6.50%, due 3/1/25 | 200,000 | 211,785 |
Insured: AGM | ||
6.50%, due 3/1/27 | 390,000 | 429,872 |
Fort Bend County Municipal Utility District No. 134C, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 9/1/26 | 515,000 | 500,830 |
Fort Bend County Municipal Utility District No. 169, Unlimited General Obligation | ||
Insured: AGM | ||
2.00%, due 12/1/26 | 665,000 | 600,241 |
Principal Amount | Value | |
Texas (continued) | ||
Fort Bend County Municipal Utility District No. 194, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 9/1/25 | $ 290,000 | $ 294,488 |
Fort Bend County Municipal Utility District No. 206, Unlimited General Obligation | ||
Insured: BAM | ||
4.50%, due 9/1/25 | 300,000 | 308,574 |
Insured: BAM | ||
4.50%, due 9/1/26 | 300,000 | 310,595 |
Fort Bend County Municipal Utility District No. 57, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 4/1/24 | 95,000 | 94,063 |
Fort Bend-Waller Counties Municipal Utility District No. 3, Unlimited General Obligation | ||
Insured: BAM | ||
4.50%, due 4/1/23 | 175,000 | 175,711 |
Insured: BAM | ||
4.50%, due 4/1/24 | 175,000 | 177,317 |
Insured: BAM | ||
4.50%, due 4/1/25 | 175,000 | 178,756 |
Galveston County Municipal Utility District No. 56, Unlimited General Obligation | ||
Insured: BAM | ||
4.25%, due 12/1/22 | 400,000 | 400,336 |
Insured: AGM | ||
4.50%, due 12/1/23 | 425,000 | 430,520 |
Insured: AGM | ||
4.50%, due 12/1/24 | 675,000 | 685,984 |
Green Valley Special Utility District, Revenue Bonds | ||
Insured: BAM | ||
7.00%, due 9/15/24 | 375,000 | 396,849 |
Insured: BAM | ||
7.00%, due 9/15/25 | 495,000 | 537,219 |
Gulfgate Redevelopment Authority, Tax Allocation | ||
Insured: AGM | ||
4.00%, due 9/1/23 | 325,000 | 325,216 |
Insured: AGM | ||
4.00%, due 9/1/25 | 440,000 | 445,979 |
46 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
Harris County Municipal Utility District No. 105, Unlimited General Obligation | ||
Insured: AGM | ||
4.50%, due 3/1/26 | $ 250,000 | $ 257,997 |
Harris County Municipal Utility District No. 370, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 12/1/22 | 355,000 | 354,904 |
Harris County Municipal Utility District No. 480, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 4/1/23 | 175,000 | 175,542 |
Insured: AGM | ||
4.00%, due 4/1/24 | 175,000 | 176,121 |
Harris County Municipal Utility District No. 489, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
3.00%, due 9/1/25 | 275,000 | 269,026 |
Harris County Municipal Utility District No. 489, Green Bond, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 9/1/24 | 615,000 | 622,472 |
Insured: BAM | ||
4.00%, due 9/1/25 | 615,000 | 624,020 |
Harris County Municipal Utility District No. 50, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 3/1/25 | 150,000 | 151,285 |
Insured: BAM | ||
4.00%, due 3/1/26 | 150,000 | 151,493 |
Insured: BAM | ||
4.00%, due 3/1/27 | 175,000 | 177,107 |
Harris County Water Control & Improvement District No. 158, Unlimited General Obligation (e) | ||
Insured: BAM | ||
7.00%, due 9/1/25 | 310,000 | 334,543 |
Insured: BAM | ||
7.00%, due 9/1/26 | 325,000 | 358,733 |
Principal Amount | Value | |
Texas (continued) | ||
Harris County-Houston Sports Authority, Revenue Bonds, Senior Lien | ||
Series A, Insured: AGM | ||
5.00%, due 11/15/24 | $ 150,000 | $ 154,065 |
Series A | ||
5.00%, due 11/15/28 | 1,440,000 | 1,467,095 |
Harris-Fort Bend Counties Municipal Utility District No. 3, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 4/1/25 | 560,000 | 567,861 |
Insured: AGM | ||
4.00%, due 4/1/26 | 585,000 | 595,070 |
Insured: AGM | ||
4.00%, due 4/1/27 | 615,000 | 626,640 |
Horizon Regional Municipal Utility District, Unlimited General Obligation | ||
Insured: BAM | ||
5.00%, due 2/1/24 | 300,000 | 305,716 |
Insured: BAM | ||
5.00%, due 2/1/25 | 300,000 | 308,774 |
Houston Higher Education Finance Corp., Houston Baptist University, Revenue Bonds | ||
1.75%, due 10/1/24 | 115,000 | 107,814 |
2.00%, due 10/1/25 | 150,000 | 136,713 |
Hunt Memorial Hospital District Charitable Health, Limited General Obligation | ||
5.00%, due 2/15/23 | 325,000 | 326,178 |
5.00%, due 2/15/24 | 275,000 | 278,487 |
5.00%, due 2/15/25 | 450,000 | 459,503 |
5.00%, due 2/15/26 | 800,000 | 823,174 |
Imperial Redevelopment District, Unlimited General Obligation | ||
Insured: AGM | ||
2.00%, due 5/1/26 | 130,000 | 118,247 |
Insured: AGM | ||
4.50%, due 5/1/23 | 120,000 | 120,609 |
Insured: AGM | ||
4.50%, due 5/1/24 | 85,000 | 86,175 |
Insured: AGM | ||
4.50%, due 5/1/25 | 125,000 | 127,542 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
Lazy Nine Municipal Utility District No. 1B, Unlimited General Obligation | ||
Series 1B, Insured: AGM | ||
3.00%, due 9/1/24 | $ 360,000 | $ 353,843 |
Insured: BAM | ||
3.00%, due 3/1/25 | 170,000 | 166,191 |
Insured: BAM | ||
6.50%, due 3/1/25 | 300,000 | 318,906 |
Insured: BAM | ||
6.50%, due 3/1/26 | 360,000 | 390,957 |
Insured: BAM | ||
6.50%, due 3/1/27 | 375,000 | 414,651 |
Insured: BAM | ||
6.50%, due 3/1/28 | 390,000 | 439,483 |
Leander Independent School District, Unlimited General Obligation | ||
Series C, Insured: PSF-GTD | ||
5.00%, due 8/15/23 | 340,000 | 344,946 |
Lower Colorado River Authority, LCRA Transmission Services Corp., Revenue Bonds | ||
5.00%, due 5/15/25 | 2,590,000 | 2,647,756 |
Martin County Hospital District, Limited General Obligation | ||
4.00%, due 4/1/23 | 140,000 | 140,284 |
4.00%, due 4/1/24 | 100,000 | 100,394 |
4.00%, due 4/1/25 | 150,000 | 151,437 |
4.00%, due 4/1/26 | 300,000 | 302,084 |
Matagorda County Navigation District No. 1, Revenue Bonds | ||
Insured: AMBAC | ||
5.125%, due 11/1/28 | 6,530,000 | 6,862,627 |
Metropolitan Transit Authority of Harris County Sales & Use Tax, Revenue Bonds | ||
Series A | ||
5.00%, due 11/1/25 | 255,000 | 267,255 |
North Forest Municipal Utility District, Unlimited General Obligation | ||
Insured: BAM | ||
3.00%, due 4/1/23 | 30,000 | 29,935 |
North Texas Municipal Water District, Sabine Creek Regional Wastewater Systems Project, Revenue Bonds | ||
Insured: AGM | ||
4.00%, due 6/1/24 | 350,000 | 352,728 |
Principal Amount | Value | |
Texas (continued) | ||
Northwest Harris County Municipal Utility District No. 10, Green Bond, Unlimited General Obligation | ||
Insured: BAM | ||
5.00%, due 4/1/23 | $ 520,000 | $ 523,363 |
Insured: BAM | ||
5.00%, due 4/1/24 | 635,000 | 647,307 |
Northwest Harris County Municipal Utility District No. 19, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 10/1/26 | 200,000 | 194,868 |
Insured: AGM | ||
3.00%, due 10/1/28 | 155,000 | 148,429 |
Northwest Independent School District, Capital Appreciation, Unlimited General Obligation | ||
Insured: PSF-GTD | ||
(zero coupon), due 2/15/25 | 295,000 | 272,436 |
Pasadena Independent School District, Unlimited General Obligation | ||
Insured: PSF-GTD | ||
5.00%, due 2/15/25 | 3,120,000 | 3,236,345 |
San Antonio Housing Trust Public Facility Corp., Country Club Village LP, Revenue Bonds | ||
4.00%, due 8/1/26 (a) | 2,500,000 | 2,496,752 |
Sienna Municipal Utility District No. 4, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 9/1/25 | 125,000 | 121,949 |
Sonterra Municipal Utility District, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 8/15/26 | 350,000 | 354,257 |
Southeast Williamson County Municipal Utility District No. 1, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 9/1/23 | 330,000 | 331,481 |
Insured: BAM | ||
4.00%, due 9/1/24 | 345,000 | 347,724 |
Insured: BAM | ||
4.00%, due 9/1/25 | 355,000 | 359,059 |
48 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
Southwest Houston Redevelopment Authority, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 9/1/24 | $ 300,000 | $ 306,139 |
Insured: AGM | ||
5.00%, due 9/1/25 | 300,000 | 308,829 |
Tarrant County Cultural Education Facilities Finance Corp., Hendrick Medical Center Project, Revenue Bonds | ||
Insured: AGM | ||
1.356%, due 9/1/24 | 825,000 | 771,473 |
Insured: AGM | ||
1.386%, due 9/1/25 | 600,000 | 540,807 |
Tarrant County Cultural Education Facilities Finance Corp., Methodist Hospitals of Dallas, Revenue Bonds | ||
5.00%, due 10/1/27 | 1,100,000 | 1,115,927 |
Tarrant County Cultural Education Facilities Finance Corp., Buckner Retirement Services, Inc. Project, Revenue Bonds | ||
5.00%, due 11/15/29 | 875,000 | 900,200 |
Texas Public Finance Authority, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 5/1/28 | 500,000 | 515,891 |
Timber Lane Utility District, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
4.00%, due 8/1/24 | 65,000 | 65,737 |
Trinity River Authority, Ten Mile Creek System, Revenue Bonds | ||
5.00%, due 8/1/26 | 1,390,000 | 1,464,275 |
Viridian Municipal Management District, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 12/1/22 | 550,000 | 550,298 |
Insured: AGM | ||
4.00%, due 12/1/22 | 395,000 | 395,214 |
Insured: AGM | ||
4.00%, due 12/1/23 | 300,000 | 301,936 |
Insured: AGM | ||
4.00%, due 12/1/23 | 305,000 | 306,968 |
Principal Amount | Value | |
Texas (continued) | ||
Viridian Municipal Management District, Unlimited Tax Road Improvement, Unlimited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/22 | $ 175,000 | $ 175,095 |
Insured: BAM | ||
4.00%, due 12/1/24 | 370,000 | 374,348 |
Williamson County Municipal Utility District No. 19, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
5.00%, due 8/15/25 | 260,000 | 269,141 |
118,584,650 | ||
U.S. Virgin Islands 1.5% | ||
Matching Fund Special Purpose Securitization Corp., Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/25 | 3,850,000 | 3,931,813 |
Series A | ||
5.00%, due 10/1/26 | 15,430,000 | 15,751,170 |
Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan, Revenue Bonds | ||
Insured: NATL-RE | ||
5.00%, due 10/1/24 | 395,000 | 399,342 |
20,082,325 | ||
Utah 0.7% | ||
City of Salt Lake City UT, Airport, Revenue Bonds (b) | ||
Series A | ||
5.00%, due 7/1/24 | 95,000 | 96,676 |
Series A | ||
5.00%, due 7/1/29 | 3,365,000 | 3,459,063 |
Utah Charter School Finance Authority, North Star Academy Project, Revenue Bonds | ||
Insured: UT CSCE | ||
(zero coupon), due 4/15/25 | 615,000 | 541,150 |
Utah Charter School Finance Authority, Spectrum Academy Project, Revenue Bonds | ||
Insured: UT CSCE | ||
4.00%, due 4/15/23 | 175,000 | 175,490 |
Insured: UT CSCE | ||
4.00%, due 4/15/24 | 280,000 | 281,049 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Utah (continued) | ||
Utah Charter School Finance Authority, Spectrum Academy Project, Revenue Bonds (continued) | ||
Insured: UT CSCE | ||
4.00%, due 4/15/26 | $ 400,000 | $ 402,897 |
Utah Charter School Finance Authority, Revenue Bonds | ||
Series A, Insured: UT CSCE | ||
4.00%, due 10/15/24 | 255,000 | 256,882 |
Series A, Insured: UT CSCE | ||
4.00%, due 10/15/25 | 265,000 | 267,542 |
Utah Charter School Finance Authority, Summit Academy, Inc. Project, Revenue Bonds | ||
Insured: UT CSCE | ||
5.00%, due 4/15/24 | 340,000 | 345,555 |
Utah Infrastructure Agency, Revenue Bonds | ||
3.00%, due 10/15/25 | 565,000 | 535,188 |
4.00%, due 10/15/23 | 755,000 | 748,958 |
4.00%, due 10/15/27 | 550,000 | 525,513 |
4.00%, due 10/15/28 | 350,000 | 329,825 |
Utah Infrastructure Agency, Syracuse City Project, Revenue Bonds | ||
3.00%, due 10/15/27 | 145,000 | 140,219 |
Utah Infrastructure Agency, Telecommunication, Revenue Bonds | ||
5.00%, due 10/15/26 | 1,265,000 | 1,266,802 |
9,372,809 | ||
Vermont 0.4% | ||
City of Burlington VT, Airport, Revenue Bonds | ||
Series A | ||
4.00%, due 7/1/23 | 400,000 | 400,814 |
Series A | ||
4.00%, due 7/1/24 | 415,000 | 416,501 |
Series A | ||
5.00%, due 7/1/25 | 430,000 | 441,757 |
Vermont Student Assistance Corp., Revenue Bonds, Senior Lien (b) | ||
Series A | ||
5.00%, due 6/15/23 | 1,150,000 | 1,159,269 |
Series A | ||
5.00%, due 6/15/24 | 850,000 | 863,975 |
Principal Amount | Value | |
Vermont (continued) | ||
Vermont Student Assistance Corp., Revenue Bonds, Senior Lien (b) (continued) | ||
Series A | ��� | |
5.00%, due 6/15/25 | $ 875,000 | $ 892,882 |
Vermont Student Assistance Corp., Revenue Bonds (b) | ||
Series A | ||
5.00%, due 6/15/25 | 1,300,000 | 1,326,568 |
Series A | ||
5.00%, due 6/15/26 | 175,000 | 179,155 |
5,680,921 | ||
Virginia 0.6% | ||
Capital Region Airport Commission, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 7/1/27 | 1,005,000 | 1,007,026 |
Lynchburg Economic Development Authority, Centra Health Obligated Group, Revenue Bonds | ||
4.00%, due 1/1/27 | 425,000 | 418,771 |
Norfolk Airport Authority, Revenue Bonds | ||
5.00%, due 7/1/24 | 395,000 | 404,213 |
5.00%, due 7/1/25 | 160,000 | 165,481 |
Rockingham County Economic Development Authority, Sunnyside Presbyterian Home, Revenue Bonds | ||
4.00%, due 12/1/22 | 300,000 | 299,910 |
Spotsylvania County Economic Development Authority, Revenue Bonds | ||
5.00%, due 6/1/25 | 3,130,000 | 3,258,481 |
Virginia Small Business Financing Authority, LifeSpire of Virginia, Revenue Bonds | ||
3.00%, due 12/1/22 | 240,000 | 239,663 |
3.00%, due 12/1/24 | 220,000 | 212,284 |
3.00%, due 12/1/25 | 230,000 | 218,017 |
3.00%, due 12/1/26 | 235,000 | 218,743 |
50 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Virginia (continued) | ||
Virginia Small Business Financing Authority, National Senior Campuses, Inc. Obligated Group, Revenue Bonds | ||
5.00%, due 1/1/23 | $ 500,000 | $ 500,607 |
5.00%, due 1/1/24 | 550,000 | 555,612 |
7,498,808 | ||
Washington 0.5% | ||
Northwest Open Access Network, Revenue Bonds | ||
0.691%, due 12/1/22 | 1,200,000 | 1,196,033 |
0.791%, due 12/1/23 | 1,260,000 | 1,199,324 |
Pend Oreille County Public Utility District No. 1 Box Canyon, Green Bond, Revenue Bonds | ||
5.00%, due 1/1/23 | 100,000 | 100,151 |
Pierce County School District No. 320 Sumner, Unlimited General Obligation | ||
Insured: School Bond Guaranty | ||
4.00%, due 12/1/26 | 2,500,000 | 2,543,436 |
Spokane Public Facilities District, Revenue Bonds | ||
Series B | ||
5.00%, due 12/1/23 | 1,175,000 | 1,186,499 |
Washington Higher Education Facilities Authority, Whitworth University Project, Revenue Bonds | ||
4.00%, due 10/1/23 | 435,000 | 436,717 |
4.00%, due 10/1/25 | 470,000 | 467,290 |
Washington Higher Education Facilities Authority, Seattle University Project, Revenue Bonds | ||
5.00%, due 5/1/24 | 250,000 | 254,459 |
7,383,909 | ||
West Virginia 0.1% | ||
City of Fairmont WV, Waterworks, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 7/1/23 | 300,000 | 298,444 |
Series A, Insured: BAM | ||
3.00%, due 7/1/24 | 500,000 | 492,810 |
Principal Amount | Value | |
West Virginia (continued) | ||
City of Wheeling WV, Waterworks & Sewerage System, Revenue Bonds | ||
Series A, Insured: BAM | ||
4.00%, due 6/1/28 | $ 300,000 | $ 307,280 |
Morgantown Utility Board, Inc., Green Bond, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 12/1/22 | 225,000 | 224,934 |
West Virginia Hospital Finance Authority, Cabell Huntington Hospital Obligated Group, Revenue Bonds | ||
5.00%, due 1/1/25 | 425,000 | 429,930 |
1,753,398 | ||
Wisconsin 0.6% | ||
City of Kaukauna WI, Electric System, Revenue Bonds | ||
Insured: AGM | ||
3.00%, due 12/15/24 | 5,000 | 4,918 |
Public Finance Authority, United Methodist Retirement Homes, Inc., Revenue Bonds | ||
Series A | ||
4.00%, due 10/1/25 | 290,000 | 285,373 |
Series A | ||
4.00%, due 10/1/26 | 305,000 | 297,544 |
Series A | ||
4.00%, due 10/1/27 | 195,000 | 188,319 |
Public Finance Authority, Northwest Nazarene University, Revenue Bonds | ||
5.00%, due 10/1/25 | 500,000 | 506,993 |
Town of Manitowish Waters WI, Unlimited General Obligation | ||
Insured: AGM | ||
3.00%, due 3/1/23 | 295,000 | 293,967 |
Insured: AGM | ||
3.00%, due 3/1/24 | 300,000 | 295,042 |
Insured: AGM | ||
3.00%, due 3/1/25 | 310,000 | 300,924 |
Village of Mount Pleasant WI, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 3/1/27 | 6,000,000 | 5,896,786 |
8,069,866 | ||
Total Long-Term Municipal Bonds (Cost $1,082,358,371) | 1,039,761,493 |
Principal Amount | Value | |
Short-Term Municipal Notes 19.8% | ||
Alabama 1.6% | ||
Black Belt Energy Gas District, Gas Project No.7, Revenue Bonds | ||
Series C-2 | ||
2.59%, due 10/1/52 (g) | $ 20,000,000 | $ 18,697,694 |
Southeast Alabama Gas Supply District (The), Project No. 1, Revenue Bonds | ||
Series C | ||
2.89%, due 4/1/49 (g) | 3,000,000 | 2,955,701 |
21,653,395 | ||
Arizona 1.1% | ||
Arizona Health Facilities Authority, Banner Health, Revenue Bonds | ||
Series B | ||
2.49%, due 1/1/46 (g) | 15,000,000 | 14,469,720 |
California 2.1% | ||
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 | 17,292,718 |
California Municipal Finance Authority, Waste Management, Inc. Project, Revenue Bonds | ||
0.70%, due 12/1/44 (b)(g) | 6,500,000 | 6,250,180 |
California Municipal Finance Authority, Waste Management, Inc., Revenue Bonds | ||
Series A | ||
4.125%, due 10/1/41 (b)(g) | 5,000,000 | 4,949,190 |
28,492,088 | ||
District of Columbia 0.3% | ||
District of Columbia Housing Finance Agency, Cascade Park Apartments II Project, Revenue Bonds | ||
0.70%, due 8/1/42 (g) | 4,500,000 | 4,216,052 |
Georgia 0.2% | ||
Bartow County Development Authority, Georgia Power Company Plant Bowen Project, Revenue Bonds | ||
1.80%, due 9/1/29 (g) | 2,800,000 | 2,400,989 |
Principal Amount | Value | |
Georgia (continued) | ||
Development Authority of Burke County (The), Georgia Power Co. Vogtle Project, Revenue Bonds | ||
2.15%, due 10/1/32 (g) | $ 1,000,000 | $ 963,503 |
3,364,492 | ||
Illinois 0.1% | ||
Illinois Finance Authority, Presbyterian Homes Obligated Group, Revenue Bonds | ||
Series B | ||
2.94%, due 5/1/42 (g) | 1,125,000 | 1,091,321 |
Indiana 0.3% | ||
Indiana Finance Authority, Indianapolis Power & Light Co., Revenue Bonds | ||
Series B | ||
0.95%, due 12/1/38 (b)(g) | 2,265,000 | 1,911,507 |
Indiana Finance Authority, Deaconess Health System, Revenue Bonds | ||
Series B | ||
2.54%, due 3/1/39 (g) | 1,925,000 | 1,875,226 |
3,786,733 | ||
Kansas 0.7% | ||
City of Wichita KS, Wichita Senior Housing, Revenue Bonds | ||
Series IV, Insured: FHA 221(D4) | ||
0.51%, due 11/1/25 (g) | 10,300,000 | 9,525,875 |
Louisiana 0.5% | ||
Parish of St. John the Baptist LA, Marathon Oil Corp. Project, Revenue Bonds (g) | ||
2.125%, due 6/1/37 | 925,000 | 891,423 |
Series B-2 | ||
2.375%, due 6/1/37 | 6,525,000 | 5,945,518 |
6,836,941 | ||
Michigan 0.9% | ||
City of Detroit MI, Water Sewage Disposal System, Revenue Bonds | ||
Series D, Insured: AGM | ||
3.108%, due 7/1/32 (g) | 13,500,000 | 12,985,808 |
52 | MainStay MacKay Short Term Municipal Fund |
Principal Amount | Value | |
Short-Term Municipal Notes (continued) | ||
Nebraska 0.5% | ||
County of Douglas NE, Creighton University, Revenue Bonds | ||
Series B | ||
2.77%, due 7/1/35 (g) | $ 6,445,000 | $ 6,341,555 |
New Jersey 0.4% | ||
New Jersey Turnpike Authority, Revenue Bonds (g) | ||
Series C-4 | ||
2.89%, due 1/1/24 | 3,200,000 | 3,195,993 |
Series D-1 | ||
2.90%, due 1/1/24 | 2,600,000 | 2,596,744 |
5,792,737 | ||
New York 3.0% | ||
Metropolitan Transportation Authority, Revenue Bonds (g) | ||
Series E-1 | ||
1.60%, due 11/15/50 | 10,865,000 | 10,865,000 |
Series D-2A-1, Insured: AGM | ||
2.587%, due 11/1/32 | 11,250,000 | 11,000,248 |
Series D-2A-2, Insured: AGM | ||
2.837%, due 11/1/32 | 10,875,000 | 10,314,908 |
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 | 4,507,707 |
Triborough Bridge & Tunnel Authority, MTA Bridges & Tunnels, Revenue Bonds | ||
Series B-4A | ||
2.417%, due 1/1/32 (g) | 4,455,000 | 4,376,645 |
41,064,508 | ||
Ohio 1.2% | ||
Ohio Air Quality Development Authority, American Electric Power Co. Project, Revenue Bonds (g) | ||
2.10%, due 10/1/28 (b) | 10,000,000 | 9,498,979 |
2.40%, due 12/1/38 | 5,710,000 | 4,892,413 |
2.50%, due 11/1/42 (b) | 2,500,000 | 2,143,260 |
State of Ohio, Cleveland Clinic Health System Obligated Group, Revenue Bonds | ||
2.64%, due 1/1/52 (g) | 120,000 | 120,011 |
16,654,663 |
Principal Amount | Value | |
Pennsylvania 1.9% | ||
County of Allegheny PA, Unlimited General Obligation | ||
Series C-59B, Insured: AGM | ||
2.414%, due 11/1/26 (g) | $ 815,000 | $ 812,194 |
Lehigh County General Purpose Authority, Muhlenberg College Project, Revenue Bonds | ||
2.82%, due 11/1/37 (g) | 13,110,000 | 13,091,486 |
Pennsylvania Economic Development Financing Authority, Waste Management, Inc., Revenue Bonds | ||
Series A | ||
2.64%, due 6/1/41 (b)(g) | 9,000,000 | 8,645,360 |
Pennsylvania Higher Educational Facilities Authority, Indiana University, Revenue Bonds | ||
Series A, Insured: AGC | ||
3.108%, due 7/1/27 (g) | 2,230,000 | 2,186,121 |
University of Pittsburgh-of the Commonwealth System of Higher Education, Revenue Bonds | ||
2.60%, due 2/15/24 (g) | 2,000,000 | 1,999,346 |
26,734,507 | ||
Rhode Island 0.4% | ||
Rhode Island Health and Educational Building Corp., Bryant University, Revenue Bonds | ||
1.50%, due 6/1/44 (g) | 5,660,000 | 5,232,321 |
South Carolina 0.2% | ||
Patriots Energy Group Financing Agency, Revenue Bonds | ||
Series B | ||
2.966%, due 10/1/48 (g) | 2,180,000 | 2,156,636 |
Texas 2.3% | ||
Capital Area Housing Finance Corp., Grand Avenue Flats Ltd., Revenue Bonds | ||
0.29%, due 8/1/39 (g) | 13,000,000 | 12,052,065 |
Harris County Cultural Education Facilities Finance Corp., Baylor College of Medicine, Revenue Bonds | ||
Series A | ||
2.85%, due 11/15/46 (g) | 4,000,000 | 3,999,569 |
Principal Amount | Value | ||
Short-Term Municipal Notes (continued) | |||
Texas (continued) | |||
Texas Municipal Gas Acquisition & Supply Corp. II, Revenue Bonds | |||
Series C | |||
2.863%, due 9/15/27 (g) | $ 15,775,000 | $ 15,148,092 | |
31,199,726 | |||
Washington 2.1% | |||
County of King WA, Sewer, Revenue Bonds, Junior Lien | |||
Series A | |||
2.47%, due 1/1/40 (g) | 20,000,000 | 19,457,206 | |
Washington Health Care Facilities Authority, Fred Hutchinson Cancer Research Center, Revenue Bonds | |||
3.29%, due 1/1/42 (g) | 9,000,000 | 9,006,693 | |
28,463,899 | |||
Total Short-Term Municipal Notes (Cost $279,978,053) | 270,062,977 | ||
Total Municipal Bonds (Cost $1,362,336,424) | 1,309,824,470 | ||
Long-Term Bonds 0.3% | |||
Corporate Bonds 0.3% | |||
Commercial Services 0.2% | |||
Yale University | |||
Series 2020 | |||
0.873%, due 4/15/25 | 3,000,000 | 2,731,633 | |
Entertainment 0.1% | |||
Smithsonian Institution | |||
0.974%, due 9/1/23 | 800,000 | 772,256 | |
Healthcare-Services 0.0% ‡ | |||
Baptist Health Obligated Group | |||
2.579%, due 12/1/22 | 350,000 | 349,026 | |
Total Corporate Bonds (Cost $3,990,144) | 3,852,915 | ||
Total Long-Term Bonds (Cost $3,990,144) | 3,852,915 | ||
Total Investments (Cost $1,366,326,568) | 96.2% | 1,313,677,385 | |
Other Assets, Less Liabilities | 3.8 | 51,923,342 | |
Net Assets | 100.0% | $ 1,365,600,727 |
† | 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 October 31, 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 October 31, 2022. |
(e) | Delayed delivery security. |
(f) | Floating rate—Rate shown was the rate in effect as of October 31, 2022. |
(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. |
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 |
54 | MainStay MacKay Short Term Municipal 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) | |||||||
Municipal Bonds | |||||||
Long-Term Municipal Bonds | $ — | $ 1,039,761,493 | $ — | $ 1,039,761,493 | |||
Short-Term Municipal Notes | — | 270,062,977 | — | 270,062,977 | |||
Total Municipal Bonds | — | 1,309,824,470 | — | 1,309,824,470 | |||
Long-Term Bonds | |||||||
Corporate Bonds | — | 3,852,915 | — | 3,852,915 | |||
Total Corporate Bonds | — | 3,852,915 | — | 3,852,915 | |||
Total Investments in Securities | $ — | $ 1,313,677,385 | $ — | $ 1,313,677,385 |
(a) | For a complete listing of investments and their industries, see the Portfolio of Investments. |
Assets | |
Investment in securities, at value (identified cost $1,366,326,568) | $1,313,677,385 |
Cash | 27,030,407 |
Due from custodian | 4,834,126 |
Receivables: | |
Investment securities sold | 47,367,250 |
Interest | 13,434,239 |
Fund shares sold | 6,833,033 |
Other assets | 88,308 |
Total assets | 1,413,264,748 |
Liabilities | |
Payables: | |
Investment securities purchased | 34,825,799 |
Fund shares redeemed | 11,151,981 |
Manager (See Note 3) | 387,678 |
NYLIFE Distributors (See Note 3) | 97,681 |
Custodian | 93,605 |
Transfer agent (See Note 3) | 75,687 |
Professional fees | 65,310 |
Shareholder communication | 41,441 |
Trustees | 1,220 |
Accrued expenses | 63,330 |
Distributions payable | 860,289 |
Total liabilities | 47,664,021 |
Net assets | $1,365,600,727 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $ 149,828 |
Additional paid-in-capital | 1,464,359,712 |
1,464,509,540 | |
Total distributable earnings (loss) | (98,908,813) |
Net assets | $1,365,600,727 |
Class A | |
Net assets applicable to outstanding shares | $371,938,172 |
Shares of beneficial interest outstanding | 40,807,128 |
Net asset value per share outstanding | $ 9.11 |
Maximum sales charge (1.00% of offering price) | 0.09 |
Maximum offering price per share outstanding | $ 9.20 |
Class A2 | |
Net assets applicable to outstanding shares | $ 76,254,011 |
Shares of beneficial interest outstanding | 8,356,205 |
Net asset value and offering price per share outstanding | $ 9.13 |
Investor Class | |
Net assets applicable to outstanding shares | $ 2,752,881 |
Shares of beneficial interest outstanding | 301,217 |
Net asset value per share outstanding | $ 9.14 |
Maximum sales charge (0.50% of offering price) | 0.05 |
Maximum offering price per share outstanding | $ 9.19 |
Class I | |
Net assets applicable to outstanding shares | $831,311,439 |
Shares of beneficial interest outstanding | 91,211,338 |
Net asset value and offering price per share outstanding | $ 9.11 |
Class R6 | |
Net assets applicable to outstanding shares | $ 83,344,224 |
Shares of beneficial interest outstanding | 9,151,766 |
Net asset value and offering price per share outstanding | $ 9.11 |
56 | MainStay MacKay Short Term Municipal Fund |
Investment Income (Loss) | |
Income | |
Interest | $ 13,309,585 |
Expenses | |
Manager (See Note 3) | 2,690,352 |
Distribution/Service—Class A (See Note 3) | 512,698 |
Distribution/Service—Class A2 (See Note 3) | 114,464 |
Distribution/Service—Investor Class (See Note 3) | 3,613 |
Transfer agent (See Note 3) | 222,231 |
Custodian | 189,545 |
Professional fees | 85,299 |
Registration | 78,615 |
Shareholder communication | 26,810 |
Trustees | 19,382 |
Miscellaneous | 30,618 |
Total expenses before waiver/reimbursement | 3,973,627 |
Expense waiver/reimbursement from Manager (See Note 3) | (130,115) |
Net expenses | 3,843,512 |
Net investment income (loss) | 9,466,073 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on investments | (29,794,586) |
Net change in unrealized appreciation (depreciation) on investments | 79,004 |
Net realized and unrealized gain (loss) | (29,715,582) |
Net increase (decrease) in net assets resulting from operations | $(20,249,509) |
for the six months ended October 31, 2022 (Unaudited) and the year ended April 30, 2022
Six months ended October 31, 2022 | Year ended April 30, 2022 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $ 9,466,073 | $ 11,016,224 |
Net realized gain (loss) | (29,794,586) | (9,580,898) |
Net change in unrealized appreciation (depreciation) | 79,004 | (72,063,429) |
Net increase (decrease) in net assets resulting from operations | (20,249,509) | (70,628,103) |
Distributions to shareholders: | ||
Class A | (2,380,989) | (2,489,358) |
Class A2 | (525,313) | (604,316) |
Investor Class | (12,124) | (7,453) |
Class I | (6,896,288) | (11,061,272) |
Class R6 | (710,548) | — |
Total distributions to shareholders | (10,525,262) | (14,162,399) |
Capital share transactions: | ||
Net proceeds from sales of shares | 549,724,938 | 1,461,111,895 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 6,483,976 | 9,157,948 |
Cost of shares redeemed | (797,222,471) | (1,744,044,217) |
Increase (decrease) in net assets derived from capital share transactions | (241,013,557) | (273,774,374) |
Net increase (decrease) in net assets | (271,788,328) | (358,564,876) |
Net Assets | ||
Beginning of period | 1,637,389,055 | 1,995,953,931 |
End of period | $1,365,600,727 | $ 1,637,389,055 |
58 | MainStay MacKay Short Term Municipal Fund |
Six months ended October 31, 2022* | Year Ended April 30, | ||||||||||
Class A | 2022 | 2021 | 2020 | 2019 | 2018 | ||||||
Net asset value at beginning of period | $ 9.31 | $ 9.73 | $ 9.54 | $ 9.58 | $ 9.51 | $ 9.56 | |||||
Net investment income (loss) (a) | 0.05 | 0.04 | 0.06 | 0.13 | 0.12 | 0.10 | |||||
Net realized and unrealized gain (loss) | (0.20) | (0.41) | 0.21 | (0.03) | 0.07 | (0.05) | |||||
Total from investment operations | (0.15) | (0.37) | 0.27 | 0.10 | 0.19 | 0.05 | |||||
Less distributions: | |||||||||||
From net investment income | (0.05) | (0.05) | (0.08) | (0.14) | (0.12) | (0.10) | |||||
Net asset value at end of period | $ 9.11 | $ 9.31 | $ 9.73 | $ 9.54 | $ 9.58 | $ 9.51 | |||||
Total investment return (b) | (1.57)% | (3.81)% | 2.85% | 1.05% | 2.04%(c) | 0.54% | |||||
Ratios (to average net assets)/Supplemental Data: | |||||||||||
Net investment income (loss) | 1.03%†† | 0.36% | 0.63% | 1.30% | 1.28% | 1.06% | |||||
Net expenses | 0.68%†† | 0.67% | 0.65% | 0.69% | 0.71% | 0.80% | |||||
Expenses (before waiver/reimbursement) | 0.68%†† | 0.67% | 0.65% | 0.70% | 0.71% | 0.84% | |||||
Portfolio turnover rate | 35%(d) | 62%(d) | 28%(d) | 94%(d) | 96% | 69% | |||||
Net assets at end of period (in 000’s) | $ 371,938 | $ 409,722 | $ 503,769 | $ 152,614 | $ 113,023 | $ 98,982 |
* | Unaudited. |
†† | 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) | Total investment return may reflect adjustments to conform to generally accepted accounting principles. |
(d) | The portfolio turnover rate includes variable rate demand notes. |
Six months ended October 31, 2022* | Year Ended April 30, | September 30, 2020^ through April 30, 2021 | |||
Class A2 | 2022 * | ||||
Net asset value at beginning of period | $ 9.32 | $ 9.75 | $ 9.70** | ||
Net investment income (loss) (a) | 0.05 | 0.03 | 0.02 | ||
Net realized and unrealized gain (loss) | (0.19) | (0.41) | 0.07 | ||
Total from investment operations | (0.14) | (0.38) | 0.09 | ||
Less distributions: | |||||
From net investment income | (0.05) | (0.05) | (0.04) | ||
Net asset value at end of period | $ 9.13 | $ 9.32 | $ 9.75 | ||
Total investment return (b) | (1.46)% | (3.91)% | 0.90% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 1.01%†† | 0.36% | 0.40%†† | ||
Net expenses | 0.68%†† | 0.67% | 0.65%†† | ||
Portfolio turnover rate (c) | 35% | 62% | 28% | ||
Net assets at end of period (in 000's) | $ 76,254 | $ 98,890 | $ 88,248 |
* | Unaudited. |
** | 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. |
Six months ended October 31, 2022* | Year Ended April 30, | ||||||||||
Investor Class | 2022 | 2021 | 2020 | 2019 | 2018 | ||||||
Net asset value at beginning of period | $ 9.33 | $ 9.76 | $ 9.57 | $ 9.61 | $ 9.54 | $ 9.59 | |||||
Net investment income (loss) (a) | 0.03 | 0.01 | 0.04 | 0.09 | 0.08 | 0.06 | |||||
Net realized and unrealized gain (loss) | (0.18) | (0.42) | 0.20 | (0.02) | 0.07 | (0.05) | |||||
Total from investment operations | (0.15) | (0.41) | 0.24 | 0.07 | 0.15 | 0.01 | |||||
Less distributions: | |||||||||||
From net investment income | (0.04) | (0.02) | (0.05) | (0.11) | (0.08) | (0.06) | |||||
Net asset value at end of period | $ 9.14 | $ 9.33 | $ 9.76 | $ 9.57 | $ 9.61 | $ 9.54 | |||||
Total investment return (b) | (1.62)% | (4.19)% | 2.64% | 0.61% | 1.56% | 0.08% | |||||
Ratios (to average net assets)/Supplemental Data: | |||||||||||
Net investment income (loss) | 0.70%†† | 0.06% | 0.41% | 0.98% | 0.81% | 0.60% | |||||
Net expenses | 1.00%†† | 0.99% | 0.98% | 1.09% | 1.18% | 1.26% | |||||
Expenses (before waiver/reimbursement) | 1.31%†† | 1.24% | 1.25% | 1.28% | 1.30% | 1.36% | |||||
Portfolio turnover rate | 35%(c) | 62%(c) | 28%(c) | 94%(c) | 96% | 69% | |||||
Net assets at end of period (in 000's) | $ 2,753 | $ 2,884 | $ 3,608 | $ 4,158 | $ 3,834 | $ 3,366 |
* | Unaudited. |
†† | 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. |
Six months ended October 31, 2022* | Year Ended April 30, | ||||||||||
Class I | 2022 | 2021 | 2020 | 2019 | 2018 | ||||||
Net asset value at beginning of period | $ 9.31 | $ 9.73 | $ 9.54 | $ 9.58 | $ 9.51 | $ 9.56 | |||||
Net investment income (loss) (a) | 0.06 | 0.06 | 0.09 | 0.15 | 0.15 | 0.13 | |||||
Net realized and unrealized gain (loss) | (0.19) | (0.40) | 0.21 | (0.02) | 0.07 | (0.05) | |||||
Total from investment operations | (0.13) | (0.34) | 0.30 | 0.13 | 0.22 | 0.08 | |||||
Less distributions: | |||||||||||
From net investment income | (0.07) | (0.08) | (0.11) | (0.17) | (0.15) | (0.13) | |||||
Net asset value at end of period | $ 9.11 | $ 9.31 | $ 9.73 | $ 9.54 | $ 9.58 | $ 9.51 | |||||
Total investment return (b) | (1.43)% | (3.55)% | 3.12% | 1.34% | 2.34% | 0.84% | |||||
Ratios (to average net assets)/Supplemental Data: | |||||||||||
Net investment income (loss) | 1.29%†† | 0.63% | 0.89% | 1.58% | 1.61% | 1.36% | |||||
Net expenses | 0.40%†† | 0.40% | 0.40% | 0.40% | 0.40% | 0.50% | |||||
Expenses (before waiver/reimbursement) | 0.43%†† | 0.42% | 0.40% | 0.45% | 0.45% | 0.59% | |||||
Portfolio turnover rate | 35%(c) | 62%(c) | 28%(c) | 94%(c) | 96% | 69% | |||||
Net assets at end of period (in 000’s) | $ 831,311 | $ 1,125,893 | $ 1,400,328 | $ 412,193 | $ 337,116 | $ 157,945 |
* | Unaudited. |
†† | 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. |
60 | MainStay MacKay Short Term Municipal Fund |
May 2, 2022^ through October 31, 2022* | |
Class R6 | |
Net asset value at beginning of period | $ 9.30** |
Net investment income (loss) (a) | 0.06 |
Net realized and unrealized gain (loss) | (0.18) |
Total from investment operations | (0.12) |
Less distributions: | |
From net investment income | (0.07) |
Net asset value at end of period | $ 9.11 |
Total investment return (b) | (1.33)% |
Ratios (to average net assets)/Supplemental Data: | |
Net investment income (loss) | 1.34%†† |
Net expenses | 0.40%†† |
Portfolio turnover rate (c) | 35% |
Net assets at end of period (in 000’s) | $ 83,344 |
* | Unaudited. |
** | Based on the net asset value of Class I as of May 2, 2022. |
^ | 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. |
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 | May 2, 2022 |
SIMPLE Class | N/A* |
* | SIMPLE Class shares were registered for sale effective as of August 31, 2020 but have not yet commenced operations. |
62 | MainStay MacKay Short Term Municipal Fund |
• | Level 1—quoted prices (unadjusted) in active markets for an identical asset or liability |
• | Level 2—other significant observable inputs (including quoted prices for a similar asset or liability in active markets, interest rates and yield curves, prepayment speeds, credit risk, etc.) |
• | Level 3—significant unobservable inputs (including the Fund's own assumptions about the assumptions that market participants would use in measuring fair value of an asset or liability) |
• 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 |
64 | MainStay MacKay Short Term Municipal Fund |
Class | Expense | Waived |
Class A | $ 58,925 | $ — |
Class A2 | 13,133 | — |
Investor Class | 9,550 | (4,467) |
Class I | 138,691 | — |
Class R6 | 1,932 | — |
Class A | $15,582,380 | 4.2% |
Class A2 | 23,853 | 0.0‡ |
Class R6 | 24,628 | 0.0‡ |
‡ | Less than one-tenth of a percent. |
66 | MainStay MacKay Short Term Municipal Fund |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $1,369,288,796 | $72,676 | $(55,684,087) | $(55,611,411) |
Capital Loss Available Through | Short-Term Capital Loss Amounts (000’s) | Long-Term Capital Loss Amounts (000’s) |
Unlimited | $7,173 | $5,229 |
2022 | |
Distributions paid from: | |
Ordinary Income | $ 1,474,609 |
Exempt Interest Dividends | 12,687,790 |
Total | $14,162,399 |
Class A | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 9,659,877 | $ 89,835,899 |
Shares issued to shareholders in reinvestment of distributions | 149,038 | 1,380,303 |
Shares redeemed | (13,116,253) | (121,862,854) |
Net increase (decrease) in shares outstanding before conversion | (3,307,338) | (30,646,652) |
Shares converted into Class A (See Note 1) | 103,314 | 961,720 |
Shares converted from Class A (See Note 1) | (345) | (3,165) |
Net increase (decrease) | (3,204,369) | $ (29,688,097) |
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) |
Class A2 | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 1,047,877 | $ 9,740,471 |
Shares issued to shareholders in reinvestment of distributions | 56,603 | 525,313 |
Shares redeemed | (3,317,635) | (30,792,212) |
Net increase (decrease) in shares outstanding before conversion | (2,213,155) | (20,526,428) |
Shares converted from Class A2 (See Note 1) | (41,230) | (384,679) |
Net increase (decrease) | (2,254,385) | $ (20,911,107) |
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 |
Investor Class | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 67,086 | $ 627,282 |
Shares issued to shareholders in reinvestment of distributions | 1,262 | 11,710 |
Shares redeemed | (47,256) | (441,056) |
Net increase (decrease) in shares outstanding before conversion | 21,092 | 197,936 |
Shares converted from Investor Class (See Note 1) | (28,845) | (269,054) |
Net increase (decrease) | (7,753) | $ (71,118) |
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) |
Class I | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 44,876,760 | $ 417,112,891 |
Shares issued to shareholders in reinvestment of distributions | 492,324 | 4,564,036 |
Shares redeemed | (63,695,437) | (591,360,338) |
Net increase (decrease) in shares outstanding before conversion | (18,326,353) | (169,683,411) |
Shares converted into Class I (See Note 1) | 345 | 3,165 |
Shares converted from Class I (See Note 1) | (11,410,817) | (105,778,277) |
Net increase (decrease) | (29,736,825) | $ (275,458,523) |
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) |
68 | MainStay MacKay Short Term Municipal Fund |
Class R6(a) | Shares | Amount |
Period ended October 31, 2022: | ||
Shares sold | 3,498,487 | $ 32,408,395 |
Shares issued to shareholders in reinvestment of distributions | 284 | 2,614 |
Shares redeemed | (5,737,026) | (52,766,011) |
Net increase (decrease) in shares outstanding before conversion | (2,238,255) | (20,355,002) |
Shares converted into Class R6 (See Note 1) | 11,423,140 | 105,778,278 |
Shares converted from Class R6 (See Note 1) | (33,119) | (307,988) |
Net increase (decrease) | 9,151,766 | $ 85,115,288 |
(a) | The inception of the class was May 2, 2022. |
70 | MainStay MacKay Short Term Municipal Fund |
1.
2. | This Fund is registered for sale in AZ, CA, NV, OR, TX, UT, WA and MI (Class A and Class I shares only), and CO, FL, GA, HI, ID, MA, MD, NH, NJ and NY (Class I shares only). |
3. | This Fund is registered for sale in CA, CT, DE, FL, MA, NJ, NY and VT. |
4. | An affiliate of New York Life Investment Management LLC. |
5013757.2MS229-22 | MSSTM10-12/22 |
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 |
President
Average Annual Total Returns for the Period-Ended October 31, 2022 | |||||||
Class | Sales Charge | Inception Date | Six Months1 | One Year | Since Inception | Gross Expense Ratio2 | |
Class A Shares3 | Maximum 3% Initial Sales Charge | With sales charges | 6/28/2019 | -7.99% | -14.15% | -2.07% | 0.97% |
Excluding sales charges | -3.65 | -10.10 | -0.71 | 0.97 | |||
Investor Class Shares4, 5 | Maximum 2.5% Initial Sales Charge | With sales charges | 6/28/2019 | -7.58 | -13.74 | -2.27 | 1.17 |
Excluding sales charges | -3.73 | -10.15 | -0.92 | 1.17 | |||
Class C Shares | Maximum 1% CDSC | With sales charges | 6/28/2019 | -4.81 | -11.44 | -1.20 | 1.42 |
if redeemed Within One Year of Purchase | Excluding sales charges | -3.86 | -10.57 | -1.20 | 1.42 | ||
Class I Shares | No Sales Charge | 6/28/2019 | -3.43 | -9.88 | -0.51 | 0.71 | |
Class R6 Shares | No Sales Charge | 6/28/2019 | -3.53 | -9.96 | -0.53 | 0.70 |
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. |
3. | Prior to August 10, 2022, the maximum initial sales charge was 4.5%, which is reflected in the applicable average annual total return figures shown. |
4. | 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. |
5. | Prior to August 10, 2022, the maximum initial sales charge was 4%, which is reflected in the applicable average annual total return figures shown. |
Benchmark Performance* | Six Months1 | One Year | Since Inception |
Bloomberg Municipal Bond Index 1-15 Yr Blend2 | -2.41% | -8.94% | -0.78% |
Morningstar Muni National Intermediate Category Average3 | -4.07 | -11.21 | -1.42 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
1. | Not annualized. |
2. | The Bloomberg Municipal Bond Index 1-15 Yr Blend is the Fund's primary broad-based securities-market index for comparison purposes. |
3. | 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 5/1/22 | Ending Account Value (Based on Actual Returns and Expenses) 10/31/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 10/31/22 | Expenses Paid During Period | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $963.50 | $3.81 | $1,021.32 | $3.92 | 0.77% |
Investor Class Shares | $1,000.00 | $962.70 | $4.55 | $1,020.57 | $4.69 | 0.92% |
Class C Shares | $1,000.00 | $961.40 | $5.78 | $1,019.31 | $5.96 | 1.17% |
Class I Shares | $1,000.00 | $965.70 | $2.58 | $1,022.58 | $2.65 | 0.52% |
Class R6 Shares | $1,000.00 | $964.70 | $2.48 | $1,022.68 | $2.55 | 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 184 (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. |
Illinois | 12.1% |
New York | 10.1 |
Texas | 9.4 |
Florida | 8.2 |
California | 6.2 |
Alabama | 5.8 |
Georgia | 3.6 |
New Jersey | 3.6 |
Pennsylvania | 3.3 |
Utah | 3.1 |
Michigan | 2.9 |
Indiana | 2.9 |
Colorado | 2.8 |
Missouri | 2.7 |
North Carolina | 2.6 |
Wisconsin | 2.5 |
Ohio | 2.0 |
Nebraska | 1.6 |
Washington | 1.5 |
Rhode Island | 1.4 |
Tennessee | 1.1 |
Connecticut | 1.1 |
Puerto Rico | 1.0 |
Maryland | 1.0 |
Kansas | 1.0% |
Massachusetts | 1.0 |
Guam | 0.9 |
Arizona | 0.9 |
Kentucky | 0.9 |
Minnesota | 0.8 |
Iowa | 0.7 |
Vermont | 0.7 |
West Virginia | 0.6 |
U.S. Virgin Islands | 0.5 |
Mississippi | 0.4 |
New Mexico | 0.4 |
New Hampshire | 0.3 |
Montana | 0.3 |
South Dakota | 0.3 |
Idaho | 0.2 |
Alaska | 0.1 |
Wyoming | 0.1 |
North Dakota | 0.1 |
Louisiana | 0.1 |
Hawaii | 0.0‡ |
Other Assets, Less Liabilities | –2.8 |
100.0% |
1. | City of New York NY, 1.65%-5.25%, due 10/1/38–10/1/47 |
2. | Black Belt Energy Gas District, 2.59%-5.50%, due 12/1/49–11/1/53 |
3. | Southeast Energy Authority, (zero coupon)-4.00%, due 11/1/51–1/1/53 |
4. | City of Chicago IL, 4.00%-6.00%, due 1/1/33–1/1/38 |
5. | Port Authority of New York & New Jersey, 4.00%-5.00%, due 11/1/37–8/1/38 |
6. | New Jersey Economic Development Authority, 5.00%-5.625%, due 11/15/30–11/1/44 |
7. | Tender Option Bond Trust Receipts, 2.38%, due 12/15/50 |
8. | State of Illinois, 5.00%-5.50%, due 12/1/26–5/1/39 |
9. | California Municipal Finance Authority, 4.125%-5.25%, due 11/1/36–10/1/41 |
10. | City of Bloomington IN, 5.00%, due 7/1/30–7/1/36 |
8 | MainStay MacKay Strategic Municipal Allocation Fund |
1. | See page 5 for other share class returns, which may be higher or lower than Class I share returns. See page 6 for more information on benchmark and peer group returns. |
2. | An obligation rated ‘AA’ by Standard & Poor’s (“S&P”) is deemed by S&P to differ from the highest-rated obligations only to a small degree. In the opinion of S&P, the obligor's capacity to meet its financial commitment on the obligation is very strong. An obligation rated ‘A’ by S&P is deemed by S&P to be somewhat more susceptible to the adverse effects of changes in circumstances and economic conditions than obligations in higher-rated categories. In the opinion of S&P, however, the obligor's capacity to meet its financial commitment on the obligation is still strong. When applied to Fund holdings, ratings are based solely on the creditworthiness of the bonds in the portfolio and are not meant to represent the security or safety of the Fund. |
3. | Duration is a measure of the price sensitivity of a fixed-income investment to changes in interest rates. Duration is expressed as a number of years and is considered a more accurate sensitivity gauge than average maturity. |
4. | Modified duration is inversely related to the approximate percentage change in price for a given change in yield. Duration to worst is the duration of a bond computed using the bond’s nearest call date or maturity, whichever comes first. This measure ignores future cash flow fluctuations due to embedded optionality. |
5. | An obligation rated ‘AAA’ has the highest rating assigned by S&P, and in the opinion of S&P, the obligor’s capacity to meet its financial commitment on the obligation is extremely strong. When applied to Fund holdings, ratings are based solely on the creditworthiness of the bonds in the portfolio and are not meant to represent the security or safety of the Fund. |
10 | MainStay MacKay Strategic Municipal Allocation Fund |
Principal Amount | Value | |
Municipal Bonds 102.8% | ||
Long-Term Municipal Bonds 92.8% | ||
Alabama 5.4% | ||
Black Belt Energy Gas District, Project No. 4, Revenue Bonds | ||
Series A-1 | ||
4.00%, due 12/1/49 (a) | $ 1,480,000 | $ 1,435,419 |
Black Belt Energy Gas District, Gas Project No.6, Revenue Bonds | ||
Series B | ||
4.00%, due 10/1/52 (a) | 1,760,000 | 1,694,811 |
Black Belt Energy Gas District, Revenue Bonds (a) | ||
Series B-1 | ||
4.00%, due 4/1/53 | 640,000 | 607,471 |
Series F | ||
5.50%, due 11/1/53 | 1,600,000 | 1,616,861 |
Prichard Water Works & Sewer Board, Revenue Bonds | ||
2.375%, due 11/1/28 | 205,000 | 123,000 |
Southeast Energy Authority, A Cooperative District, Project No. 3, Revenue Bonds | ||
Series A-1 | ||
(zero coupon), due 1/1/53 | 1,600,000 | 1,618,225 |
Southeast Energy Authority, A Cooperative District, Project No. 1, Revenue Bonds | ||
Series A | ||
4.00%, due 11/1/51 (a) | 760,000 | 709,832 |
Southeast Energy Authority, A Cooperative District, Project No. 2, Revenue Bonds | ||
Series B | ||
4.00%, due 12/1/51 (a) | 2,600,000 | 2,342,261 |
10,147,880 | ||
Alaska 0.1% | ||
Alaska Industrial Development & Export Authority, Interior Gas Utility Project, Revenue Bonds | ||
Series A | ||
5.00%, due 6/1/28 | 250,000 | 246,544 |
Arizona 0.9% | ||
Arizona Industrial Development Authority, Ball Charter Schools Projet, Revenue Bonds | ||
2.65%, due 7/1/26 | 90,000 | 83,899 |
Principal Amount | Value | |
Arizona (continued) | ||
City of Mesa AZ, Utility System, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 7/1/30 | $ 1,050,000 | $ 1,131,287 |
Glendale Industrial Development Authority, Royal Oaks Life Care Community, Revenue Bonds | ||
4.00%, due 5/15/28 | 620,000 | 576,397 |
1,791,583 | ||
California 5.1% | ||
California Municipal Finance Authority, Palomar Health Obligated Group, Certificate of Participation | ||
Series A, Insured: AGM | ||
5.25%, due 11/1/36 (b) | 1,300,000 | 1,347,977 |
California Public Finance Authority, Enso Village Project, Revenue Bonds | ||
Series B-3 | ||
2.125%, due 11/15/27 (c) | 250,000 | 228,164 |
California School Finance Authority, Classical Academies Oceanside Project, Revenue Bonds | ||
Series A | ||
4.00%, due 10/1/27 (c) | 500,000 | 488,954 |
California School Finance Authority, Sonoma County Junior College District Project, Revenue Bonds | ||
Series A | ||
4.00%, due 11/1/41 (c) | 240,000 | 174,700 |
California Statewide Communities Development Authority, Community Infrastructure Program, Special Assessment | ||
Series A | ||
4.00%, due 9/2/26 | 260,000 | 249,111 |
California Statewide Communities Development Authority, CHF-Irvine LLC, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 5/15/35 | 290,000 | 275,976 |
City of Long Beach CA, Airport System, Revenue Bonds | ||
Series B, Insured: AGM | ||
5.00%, due 6/1/28 | 250,000 | 270,455 |
Series A, Insured: AGM | ||
5.00%, due 6/1/31 | 250,000 | 276,580 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
California (continued) | ||
City of Long Beach CA, Airport System, Revenue Bonds (continued) | ||
Series B, Insured: AGM | ||
5.00%, due 6/1/31 | $ 150,000 | $ 165,948 |
City of San Mateo CA, Community Facilities District No. 2008-1, Special Tax | ||
Insured: BAM | ||
5.25%, due 9/1/35 | 1,000,000 | 1,053,493 |
City of Vernon CA, Electric System, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/27 | 250,000 | 256,938 |
Compton Community College District, Election of 2002, Unlimited General Obligation | ||
Series D, Insured: BAM | ||
(zero coupon), due 8/1/38 | 1,000,000 | 355,659 |
Corona Community Facilities District, Community Facilities District No. 2018-2, Special Tax | ||
Series A | ||
5.00%, due 9/1/29 | 100,000 | 104,511 |
County of Los Angeles CA Community Facilities District No. 2021-01, Improvement Area No. 1, Special Tax | ||
5.00%, due 9/1/27 | 100,000 | 103,929 |
5.00%, due 9/1/30 | 175,000 | 179,761 |
5.00%, due 9/1/32 | 175,000 | 178,148 |
Fresno Unified School District, Election of 2020, Unlimited General Obligation | ||
Series B | ||
5.00%, due 8/1/40 | 250,000 | 261,231 |
Hercules Redevelopment Agency Successor Agency, Tax Allocation | ||
Series A, Insured: AGM | ||
5.00%, due 8/1/37 | 500,000 | 523,687 |
Merced City School District, Election 2014, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 8/1/46 | 100,000 | 87,091 |
Oakland Unified School District, Election of 2020, Unlimited General Obligation | ||
Series A, Insured: BAM | ||
4.00%, due 8/1/46 | 500,000 | 433,327 |
Principal Amount | Value | |
California (continued) | ||
Ravenswood City School District, Election 2018, Unlimited General Obligation | ||
Insured: AGM | ||
5.00%, due 8/1/36 | $ 360,000 | $ 381,717 |
Sacramento City Financing Authority, Capital Appreciation, Tax Allocation | ||
Insured: NATL-RE | ||
(zero coupon), due 12/1/23 | 735,000 | 707,769 |
San Joaquin Hills Transportation Corridor Agency, Revenue Bonds, Junior Lien | ||
Series B | ||
5.25%, due 1/15/49 | 1,500,000 | 1,498,342 |
9,603,468 | ||
Colorado 2.7% | ||
Arkansas River Power Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/38 | 1,000,000 | 970,162 |
Colorado Health Facilities Authority, Aberdeen Ridge, Inc. Obligated Group, Revenue Bonds | ||
Series B-3 | ||
2.125%, due 5/15/28 | 250,000 | 224,265 |
Colorado Health Facilities Authority, CommonSpirit Health, Revenue Bonds | ||
Series A-1 | ||
4.00%, due 8/1/44 | 250,000 | 201,881 |
Series A-2 | ||
5.00%, due 8/1/33 | 90,000 | 91,439 |
Series A-1 | ||
5.00%, due 8/1/35 | 180,000 | 181,368 |
Series A | ||
5.25%, due 11/1/37 | 1,450,000 | 1,476,383 |
Fiddlers Business Improvement District, Unlimited General Obligation | ||
5.00%, due 12/1/32 (c) | 200,000 | 194,422 |
Ground Water Management Subdistrict of Central Colorado, Water Conservancy District, Limited General Obligation | ||
Insured: BAM | ||
4.00%, due 12/1/40 | 250,000 | 222,519 |
Jefferson County School District R-1, Unlimited General Obligation | ||
Series A, Insured: BAM State Aid Withholding | ||
4.00%, due 12/15/36 | 1,000,000 | 968,017 |
12 | MainStay MacKay Strategic Municipal Allocation Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Colorado (continued) | ||
VDW Metropolitan District No. 2, Limited General Obligation | ||
Series A-2, Insured: BAM | ||
4.00%, due 12/1/45 | $ 580,000 | $ 491,233 |
5,021,689 | ||
Connecticut 0.8% | ||
State of Connecticut, Transportation Infrastructure, Special Tax | ||
Series A | ||
5.25%, due 7/1/40 | 1,500,000 | 1,612,196 |
Florida 8.2% | ||
CFM Community Development District, Capital Improvement, Special Assessment | ||
2.875%, due 5/1/31 | 100,000 | 82,654 |
City of Gainesville FL, Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/47 | 635,000 | 642,110 |
City of Palmetto FL, Renaissance Arts and Education, Inc., Revenue Bonds | ||
Series A | ||
4.25%, due 6/1/27 | 160,000 | 156,031 |
Series A | ||
5.00%, due 6/1/32 | 100,000 | 98,177 |
City of Pompano Beach FL, John Knox Village Projet, Revenue Bonds | ||
Series B-2 | ||
1.45%, due 1/1/27 | 250,000 | 213,944 |
Cobblestone Community Development District, Assessment Area Two, Special Assessment | ||
Series 2 | ||
3.40%, due 5/1/27 (c) | 160,000 | 147,879 |
County of Miami-Dade FL, Transit System, Revenue Bonds | ||
5.00%, due 7/1/43 | 2,300,000 | 2,398,084 |
County of Miami-Dade FL, Unlimited General Obligation | ||
Series A | ||
5.00%, due 7/1/43 | 1,000,000 | 1,033,022 |
Florida Development Finance Corp., Mater Academy Project, Revenue Bonds | ||
Series A | ||
5.00%, due 6/15/31 | 515,000 | 514,462 |
Principal Amount | Value | |
Florida (continued) | ||
Florida Development Finance Corp., UF Health Jacksonville Project, Revenue Bonds | ||
Series A | ||
5.00%, due 2/1/37 | $ 500,000 | $ 466,530 |
Fort Pierce Utilities Authority, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 10/1/28 | 700,000 | 748,110 |
Series A, Insured: AGM | ||
5.00%, due 10/1/30 | 350,000 | 378,330 |
Series A, Insured: AGM | ||
5.00%, due 10/1/32 | 150,000 | 161,759 |
Series A, Insured: AGM | ||
5.00%, due 10/1/34 | 325,000 | 346,585 |
Series A, Insured: AGM | ||
5.00%, due 10/1/35 | 500,000 | 531,308 |
Series A, Insured: AGM | ||
5.00%, due 10/1/36 | 475,000 | 503,267 |
Harbor Bay Community Development District, Special Assessment | ||
Series A-1 | ||
3.10%, due 5/1/24 | 290,000 | 281,438 |
Series A-2 | ||
3.10%, due 5/1/24 | 185,000 | 179,538 |
Hilltop Point Community Development District, Assessment Area One, Special Assessment | ||
Series 1 | ||
4.60%, due 5/1/27 | 100,000 | 97,153 |
Hilltop Point Community Development District, Assessment Area Two, Special Assessment | ||
Series 2 | ||
4.75%, due 5/1/27 | 200,000 | 194,559 |
Laurel Road Community Development District, Special Assessment | ||
Series A2 | ||
3.125%, due 5/1/31 | 235,000 | 196,380 |
Miami Beach Health Facilities Authority, Mount Sinai Medical Center of Florida, Revenue Bonds | ||
Series B | ||
4.00%, due 11/15/46 | 600,000 | 473,988 |
Palm Coast Park Community Development District, Spring Lake Tracts 2 and 3, Special Assessment | ||
2.40%, due 5/1/26 | 100,000 | 90,789 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Florida (continued) | ||
Palm Coast Park Community Development District, Sawmill Branch Phase 2, Special Assessment | ||
4.15%, due 5/1/27 | $ 400,000 | $ 388,256 |
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 | 499,125 |
Preston Cove Community Development District, Special Assessment | ||
3.25%, due 5/1/27 | 170,000 | 156,113 |
Reunion East Community Development District, Series 2021 Project, Special Assessment | ||
2.85%, due 5/1/31 | 100,000 | 82,714 |
Reunion West Community Development District, Special Assessment | ||
3.00%, due 5/1/36 | 100,000 | 74,857 |
Rolling Hills Community Development District, Special Assessment | ||
Series A-2 | ||
3.65%, due 5/1/32 | 200,000 | 172,642 |
Seminole Improvement District, Revenue Bonds | ||
5.00%, due 10/1/32 | 250,000 | 240,903 |
Southshore Bay Community Development District, District Assessment Area One, Special Assessment | ||
3.00%, due 5/1/33 (c) | 595,000 | 475,450 |
Sunbridge Stewardship District, Weslyn Park Project Assessment, Special Assessment | ||
4.60%, due 5/1/32 | 460,000 | 430,660 |
Tampa Bay Water, Revenue Bonds | ||
5.00%, due 10/1/40 | 1,580,000 | 1,681,483 |
Verano No. 3 Community Development District, Special Assessment | ||
2.375%, due 5/1/26 | 40,000 | 36,284 |
Village Community Development District No. 13, Special Assessment | ||
2.85%, due 5/1/36 | 1,495,000 | 1,046,999 |
Watergrass Community Development District II, Special Assessment | ||
2.50%, due 5/1/31 | 100,000 | 80,130 |
Principal Amount | Value | |
Florida (continued) | ||
Windward at Lakewood Ranch Community Development District, Phase 2 Project, Special Assessment | ||
3.625%, due 5/1/32 | $ 135,000 | $ 116,877 |
Wiregrass II Community Development District, Assessment Area Two, Special Assessment | ||
4.80%, due 5/1/32 | 100,000 | 94,169 |
15,512,759 | ||
Georgia 3.5% | ||
Atlanta Urban Redevelopment Agency, Atlanta BeltLine Special Service District, Revenue Bonds | ||
Insured: BAM | ||
2.875%, due 7/1/31 (c) | 500,000 | 432,175 |
City of Atlanta GA, Department of Aviation, Revenue Bonds | ||
Series B | ||
5.00%, due 7/1/34 (d) | 450,000 | 454,855 |
City of Atlanta GA, Airport Passenger Facility Charge, Revenue Bonds, Sub. Lien | ||
Series C | ||
5.00%, due 7/1/40 | 1,350,000 | 1,380,550 |
DeKalb Private Hospital Authority, Children's Healthcare of Atlanta, Revenue Bonds | ||
Series B | ||
4.00%, due 7/1/38 | 820,000 | 767,819 |
Main Street Natural Gas, Inc., Revenue Bonds | ||
Series A | ||
4.00%, due 4/1/48 (a) | 1,250,000 | 1,247,433 |
Municipal Electric Authority of Georgia, Revenue Bonds | ||
Series A | ||
5.00%, due 1/1/38 | 500,000 | 493,740 |
Walton County Water & Sewer Authority, Walton-Hard Labor Creek Reservoir Water Treatment Facility Project, Revenue Bonds | ||
5.25%, due 2/1/47 | 1,700,000 | 1,782,212 |
6,558,784 |
14 | MainStay MacKay Strategic Municipal Allocation Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Guam 0.9% | ||
Territory of Guam, Business Privilege Tax, Revenue Bonds | ||
Series F | ||
4.00%, due 1/1/36 | $ 400,000 | $ 338,364 |
Series D | ||
5.00%, due 11/15/27 | 365,000 | 365,423 |
Territory of Guam, Section 30, Revenue Bonds | ||
Series A | ||
5.00%, due 12/1/34 | 1,000,000 | 961,731 |
1,665,518 | ||
Hawaii 0.0% ‡ | ||
Kauai County Community Facilities District, Kukui'ula Development Project, Special Tax | ||
4.00%, due 5/15/26 | 80,000 | 78,092 |
Idaho 0.2% | ||
Idaho Health Facilities Authority, Madison Memorial Hospital, Revenue Bonds | ||
5.00%, due 9/1/37 | 370,000 | 353,617 |
Illinois 12.1% | ||
Chicago Board of Education, Capital Appreciation, School Reform, Unlimited General Obligation | ||
Series A, Insured: NATL-RE | ||
(zero coupon), due 12/1/25 | 500,000 | 434,452 |
Chicago Board of Education, Unlimited General Obligation | ||
Series B | ||
5.00%, due 12/1/31 | 1,000,000 | 971,932 |
Series A | ||
5.00%, due 12/1/37 | 1,085,000 | 995,161 |
Chicago O'Hare International Airport, General, Revenue Bonds, Senior Lien | ||
Series D | ||
5.00%, due 1/1/28 | 250,000 | 265,015 |
Series D | ||
5.00%, due 1/1/36 | 1,000,000 | 1,042,717 |
Series D | ||
5.00%, due 1/1/37 | 1,000,000 | 1,027,592 |
Principal Amount | Value | |
Illinois (continued) | ||
City of Chicago IL, Unlimited General Obligation | ||
Series A | ||
4.00%, due 1/1/36 | $ 500,000 | $ 420,856 |
Series A | ||
5.00%, due 1/1/33 | 920,000 | 882,012 |
Series A | ||
6.00%, due 1/1/38 | 2,500,000 | 2,547,027 |
City of Joliet IL, Rock Run Crossing Project, Unlimited General Obligation | ||
Insured: BAM | ||
5.50%, due 12/15/42 | 2,000,000 | 2,150,127 |
Illinois Finance Authority, Washington and Jane Smith Home (The), Revenue Bonds | ||
4.00%, due 10/15/23 | 205,000 | 202,980 |
4.00%, due 10/15/24 | 215,000 | 210,185 |
Illinois Finance Authority, Acero Charter Schools, Inc., Revenue Bonds | ||
4.00%, due 10/1/33 (c) | 250,000 | 214,156 |
Illinois Finance Authority, Carle Foundation, Revenue Bonds | ||
Series A | ||
5.00%, due 8/15/33 | 250,000 | 261,521 |
Illinois Municipal Electric Agency, Revenue Bonds | ||
Series A | ||
4.00%, due 2/1/34 | 1,500,000 | 1,462,927 |
Illinois State Toll Highway Authority, Revenue Bonds | ||
Series A | ||
5.00%, due 1/1/43 | 1,000,000 | 1,014,518 |
Lake County Consolidated High School District No. 120 Mundelein, Limited General Obligation | ||
Series A | ||
5.50%, due 12/1/38 | 825,000 | 874,818 |
Regional Transportation Authority, Revenue Bonds | ||
Series A, Insured: NATL-RE | ||
5.50%, due 7/1/24 | 160,000 | 165,144 |
Sales Tax Securitization Corp., Revenue Bonds, Second Lien | ||
Series A | ||
5.00%, due 1/1/30 | 500,000 | 518,791 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Illinois (continued) | ||
Sangamon & Morgan Counties Community Unit School District No. 16 New Berlin, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 12/1/38 | $ 575,000 | $ 593,228 |
Series A, Insured: AGM | ||
5.50%, due 12/1/36 | 350,000 | 379,293 |
Southwestern Illinois Development Authority, Southwestern Illinois Flood Prevention District Council, Revenue Bonds | ||
4.00%, due 4/15/33 | 525,000 | 515,222 |
State of Illinois, Unlimited General Obligation | ||
Series A | ||
5.00%, due 12/1/26 | 500,000 | 503,554 |
Series D | ||
5.00%, due 11/1/28 | 1,000,000 | 1,001,750 |
5.00%, due 2/1/39 | 1,370,000 | 1,301,153 |
5.50%, due 5/1/39 | 500,000 | 502,654 |
Village of Mundelein IL, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 12/15/39 | 250,000 | 230,386 |
Will County School District No. 114, Manhattan, Unlimited General Obligation | ||
Insured: BAM | ||
5.25%, due 1/1/39 | 175,000 | 183,785 |
Insured: BAM | ||
5.50%, due 1/1/43 | 1,825,000 | 1,935,507 |
22,808,463 | ||
Indiana 2.9% | ||
Center Grove Community School Corp., Limited General Obligation | ||
Insured: State Intercept | ||
5.00%, due 1/1/24 (b) | 1,500,000 | 1,516,192 |
City of Bloomington IN, Waterworks, Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 7/1/30 | 225,000 | 244,756 |
Insured: BAM | ||
5.00%, due 7/1/31 | 250,000 | 269,992 |
Insured: BAM | ||
5.00%, due 7/1/32 | 300,000 | 322,725 |
Principal Amount | Value | |
Indiana (continued) | ||
City of Bloomington IN, Waterworks, Revenue Bonds (continued) | ||
Insured: BAM | ||
5.00%, due 7/1/33 | $ 250,000 | $ 266,970 |
Insured: BAM | ||
5.00%, due 7/1/36 | 1,495,000 | 1,583,587 |
Evansville Waterworks District, Revenue Bonds | ||
Series A, Insured: BAM | ||
5.00%, due 1/1/36 | 500,000 | 529,083 |
Series A, Insured: BAM | ||
5.00%, due 7/1/38 | 575,000 | 601,238 |
Indiana Finance Authority, Indianapolis Power & Light Co., Revenue Bonds | ||
Series A | ||
1.40%, due 8/1/29 (a) | 250,000 | 200,185 |
5,534,728 | ||
Iowa 0.6% | ||
Jesup Community School District, Unlimited General Obligation | ||
Insured: AGM | ||
4.00%, due 6/1/29 | 535,000 | 542,810 |
Insured: AGM | ||
4.00%, due 6/1/30 | 560,000 | 565,421 |
1,108,231 | ||
Kansas 1.0% | ||
City of Dodge KS, Unlimited General Obligation | ||
Series A, Insured: AGM | ||
5.00%, due 9/1/32 | 305,000 | 328,336 |
Johnson County Unified School District No. 233 Olathe, Unlimited General Obligation | ||
Series A | ||
4.00%, due 9/1/36 | 1,685,000 | 1,631,227 |
1,959,563 | ||
Kentucky 0.6% | ||
Kentucky Bond Development Corp., Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 9/1/38 | 1,000,000 | 1,048,103 |
16 | MainStay MacKay Strategic Municipal Allocation Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Louisiana 0.1% | ||
Jefferson Parish Consolidated Sewerage District No. 1, Revenue Bonds | ||
Insured: BAM | ||
4.00%, due 2/1/42 | $ 260,000 | $ 230,058 |
Maryland 1.0% | ||
City of Baltimore MD, Harbor Point Project, Revenue Bonds | ||
4.50%, due 6/1/33 | 100,000 | 91,528 |
Maryland Community Development Administration, Revenue Bonds | ||
Series A, Insured: GNMA / FNMA / FHLMC | ||
5.00%, due 9/1/42 | 1,000,000 | 1,004,344 |
Maryland Economic Development Corp., Morgan View & Thurgood Marshall Student Housing, Revenue Bonds | ||
Series A | ||
5.25%, due 7/1/32 (b) | 465,000 | 479,886 |
State of Maryland, Unlimited General Obligation | ||
Series A | ||
5.00%, due 3/15/32 | 225,000 | 247,328 |
1,823,086 | ||
Massachusetts 1.0% | ||
Commonwealth of Massachusetts, COVID-19 Recovery Assessment, Revenue Bonds | ||
Series A | ||
3.564%, due 7/15/23 | 2,000,000 | 1,984,556 |
Michigan 2.9% | ||
Calhoun County Hospital Finance Authority, Oaklawn Hospital, Revenue Bonds | ||
5.00%, due 2/15/28 | 240,000 | 243,096 |
County of Genesee MI, Limited General Obligation | ||
Insured: AGM | ||
5.00%, due 6/1/27 | 355,000 | 373,968 |
Insured: AGM | ||
5.00%, due 6/1/29 | 180,000 | 192,606 |
Principal Amount | Value | |
Michigan (continued) | ||
Great Lakes Water Authority, Sewage Disposal System, Revenue Bonds, Second Lien | ||
Series C | ||
5.00%, due 7/1/36 | $ 1,000,000 | $ 1,025,803 |
Michigan Finance Authority, Lawrence Technological University, Revenue Bonds | ||
4.00%, due 2/1/27 | 185,000 | 174,843 |
Michigan Finance Authority, Tobacco Settlement Asset-Backed, Revenue Bonds, Senior Lien | ||
Series A, Class 1 | ||
4.00%, due 6/1/34 | 500,000 | 452,384 |
Michigan Finance Authority, BHSH System Obligated Group, Revenue Bonds | ||
5.00%, due 4/15/29 | 1,000,000 | 1,080,264 |
Michigan Finance Authority, Public Lighting Authority Local Project, Revenue Bonds | ||
5.00%, due 7/1/31 | 100,000 | 100,124 |
Richmond Community Schools, School Building and Site, Unlimited General Obligation | ||
Series I, Insured: Q-SBLF | ||
4.00%, due 5/1/36 | 750,000 | 727,432 |
Summit Academy North, Michigan Public School Academy, Revenue Bonds | ||
2.25%, due 11/1/26 | 250,000 | 223,522 |
Wayne-Westland Community Schools, Unlimited General Obligation | ||
Insured: Q-SBLF | ||
4.00%, due 11/1/38 | 500,000 | 457,820 |
Wyoming Public Schools, Unlimited General Obligation | ||
Series III, Insured: AGM | ||
4.00%, due 5/1/41 | 500,000 | 444,649 |
5,496,511 | ||
Minnesota 0.8% | ||
City of Independence MN, Global Academy Project, Revenue Bonds | ||
Series A | ||
4.00%, due 7/1/41 | 280,000 | 213,853 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Minnesota (continued) | ||
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 | $ 493,889 |
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 | 802,824 |
1,510,566 | ||
Mississippi 0.4% | ||
Mississippi Hospital Equipment & Facilities Authority, Forrest County General Hospital Project, Revenue Bonds | ||
5.00%, due 1/1/34 | 810,000 | 830,303 |
Missouri 1.7% | ||
Hickman Mills C-1 School District, Unlimited General Obligation | ||
Series C-1, Insured: BAM | ||
5.75%, due 3/1/42 (b) | 2,000,000 | 2,132,324 |
Wright City R-II School District, Unlimited General Obligation | ||
Insured: AGM | ||
6.00%, due 3/1/28 | 200,000 | 222,943 |
Insured: AGM | ||
6.00%, due 3/1/30 | 350,000 | 400,782 |
Insured: AGM | ||
6.00%, due 3/1/32 | 415,000 | 484,718 |
3,240,767 | ||
Montana 0.3% | ||
County of Gallatin MT, Bozeman Fiber Project, Revenue Bonds (c) | ||
Series A | ||
4.00%, due 10/15/32 | 300,000 | 256,635 |
Series A | ||
4.00%, due 10/15/36 | 300,000 | 239,951 |
496,586 |
Principal Amount | Value | |
Nebraska 1.6% | ||
Central Plains Energy, Nebraska Gas Project No. 4, Revenue Bonds | ||
Series A | ||
5.00%, due 3/1/50 (a) | $ 1,500,000 | $ 1,500,973 |
Omaha Public Power District Nebraska City Station Unit 2, Revenue Bonds | ||
Series A | ||
5.25%, due 2/1/42 | 1,500,000 | 1,533,328 |
3,034,301 | ||
New Hampshire 0.3% | ||
New Hampshire Business Finance Authority, Pennichuck Water Works, Inc. Project, Revenue Bonds | ||
Series A | ||
4.00%, due 4/1/30 (d) | 500,000 | 494,374 |
New Jersey 3.6% | ||
Essex County Improvement Authority, North Star Academy Charter School Project, Revenue Bonds | ||
4.00%, due 7/15/30 (c) | 250,000 | 235,141 |
New Jersey Economic Development Authority, School Facilities Construction, Revenue Bonds | ||
Series UU | ||
5.00%, due 6/15/40 | 470,000 | 461,832 |
New Jersey Economic Development Authority, New Jersey Transit Transportation Project, Revenue Bonds | ||
5.00%, due 11/1/44 | 3,000,000 | 2,886,927 |
New Jersey Economic Development Authority, Continental Airlines, Inc. Project, Revenue Bonds | ||
Series B | ||
5.625%, due 11/15/30 (d) | 250,000 | 246,749 |
New Jersey Housing & Mortgage Finance Agency, Amity Heights Apartments, Revenue Bonds | ||
Series A, Insured: HUD Sector 8 | ||
3.50%, due 7/1/25 (a) | 2,000,000 | 1,974,768 |
New Jersey Turnpike Authority, Revenue Bonds | ||
Series B | ||
5.00%, due 1/1/42 | 1,000,000 | 1,038,309 |
6,843,726 |
18 | MainStay MacKay Strategic Municipal Allocation Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New Mexico 0.4% | ||
New Mexico Hospital Equipment Loan Council, La Vida Expansion Project, Revenue Bonds | ||
Series C | ||
2.25%, due 7/1/23 | $ 750,000 | $ 739,398 |
New York 6.9% | ||
Albany Capital Resource Corp., Albany Leadership Charter High School For Girls Project, Revenue Bonds | ||
4.00%, due 6/1/29 | 360,000 | 333,325 |
City of New York NY, Unlimited General Obligation | ||
Series B-1 | ||
5.25%, due 10/1/47 | 1,500,000 | 1,568,712 |
Hudson Yards Infrastructure Corp., Second Indenture, Revenue Bonds | ||
Series A, Insured: AGM | ||
4.00%, due 2/15/47 | 540,000 | 459,548 |
Metropolitan Transportation Authority, Green Bond, Revenue Bonds | ||
Series A1 | ||
5.00%, due 11/15/29 | 500,000 | 503,692 |
Metropolitan Transportation Authority, Revenue Bonds | ||
Series C | ||
5.00%, due 11/15/38 | 250,000 | 241,522 |
Series C | ||
5.00%, due 11/15/42 | 500,000 | 472,835 |
Monroe County Industrial Development Corp., Rochester Regional Health Project, Revenue Bonds | ||
4.00%, due 12/1/36 | 375,000 | 319,244 |
New York City Municipal Water Finance Authority, Water & Sewer System Second General Resolution, Revenue Bonds | ||
Series AA-1 | ||
5.00%, due 6/15/48 | 305,000 | 311,876 |
New York City Transitional Finance Authority, Future Tax Secured, Revenue Bonds | ||
Series F-1 | ||
5.00%, due 5/1/42 | 750,000 | 761,917 |
Principal Amount | Value | |
New York (continued) | ||
New York Liberty Development Corp., Bank of America Tower at One Bryant Park Project, Revenue Bonds | ||
2.45%, due 9/15/69 | $ 500,000 | $ 419,029 |
New York Liberty Development Corp., Green Bond, Revenue Bonds | ||
Series A, Insured: AGM-CR | ||
2.75%, due 11/15/41 | 370,000 | 257,941 |
New York Liberty Development Corp., 3 World Trade Center LLC, Revenue Bonds | ||
Class 1 | ||
5.00%, due 11/15/44 (c) | 250,000 | 219,652 |
New York State Dormitory Authority, State Personal Income Tax, Revenue Bonds | ||
Series E | ||
3.00%, due 3/15/41 | 250,000 | 183,502 |
New York State Dormitory Authority, Sales tax, Revenue Bonds | ||
Series E-3 | ||
5.00%, due 3/15/41 | 1,500,000 | 1,544,264 |
New York State Urban Development Corp., Personal Income Tax, Revenue Bonds | ||
Series A | ||
4.00%, due 3/15/38 | 250,000 | 230,754 |
Port Authority of New York & New Jersey, Consolidated 218th, Revenue Bonds | ||
Series 218 | ||
4.00%, due 11/1/37 (d) | 380,000 | 337,674 |
Port Authority of New York & New Jersey, Consolidated 234th, Revenue Bonds | ||
Series 234 | ||
5.00%, due 8/1/38 (d) | 3,500,000 | 3,429,120 |
Schenectady County Capital Resource Corp., Union College Project, Revenue Bonds | ||
5.00%, due 7/1/32 | 500,000 | 533,997 |
Triborough Bridge & Tunnel Authority, Payroll Mobility Tax, Revenue Bonds, Senior Lien | ||
Series A-2 | ||
2.00%, due 5/15/45 (a) | 250,000 | 212,466 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
New York (continued) | ||
Triborough Bridge & Tunnel Authority, MTA Bridges & Tunnels, Revenue Bonds | ||
Series B-3 | ||
5.00%, due 11/15/38 | $ 640,000 | $ 653,466 |
12,994,536 | ||
North Carolina 1.7% | ||
Greater Asheville Regional Airport Authority, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 7/1/30 (d) | 1,500,000 | 1,542,756 |
North Carolina Medical Care Commission, Lutheran Services for the Aging, Revenue Bonds | ||
Series A | ||
3.00%, due 3/1/23 | 150,000 | 149,158 |
North Carolina Turnpike Authority, Triangle Expressway System, Revenue Bonds, Senior Lien | ||
Insured: AGM | ||
5.00%, due 1/1/36 | 1,545,000 | 1,601,484 |
3,293,398 | ||
North Dakota 0.1% | ||
City of Grand Forks ND, Altru Health System Obligated Group, Revenue Bonds | ||
4.00%, due 12/1/37 | 310,000 | 265,163 |
Ohio 2.0% | ||
Akron Bath Copley Joint Township Hospital District, Children's Hospital Medical Center of Akron, Revenue Bonds | ||
Series A | ||
5.00%, due 11/15/30 | 100,000 | 107,652 |
City of Toledo OH, Various Purpose Improvement, Limited General Obligation (b) | ||
Insured: AGM | ||
5.25%, due 12/1/35 | 1,000,000 | 1,070,505 |
Insured: AGM | ||
5.25%, due 12/1/37 | 750,000 | 799,641 |
City of Upper Arlington OH, Various Purpose, Limited General Obligation | ||
5.75%, due 12/1/38 (b) | 700,000 | 735,960 |
Principal Amount | Value | |
Ohio (continued) | ||
Cloverleaf Local School District, Certificate of Participation | ||
Insured: BAM | ||
5.375%, due 12/1/37 (b) | $ 750,000 | $ 784,723 |
Ohio Air Quality Development Authority, Ohio Valley Electric Corp. Project, Revenue Bonds | ||
2.875%, due 2/1/26 | 250,000 | 232,141 |
3,730,622 | ||
Pennsylvania 3.3% | ||
Bucks County Industrial Development Authority, Grand View Hospital Project, Revenue Bonds | ||
5.00%, due 7/1/34 | 300,000 | 283,122 |
5.00%, due 7/1/35 | 300,000 | 279,071 |
Chester County Industrial Development Authority, Collegium Charter School, Revenue Bonds | ||
5.00%, due 10/15/32 (c) | 250,000 | 239,033 |
City of Philadelphia PA, Unlimited General Obligation | ||
Series A | ||
5.00%, due 5/1/34 | 1,000,000 | 1,044,309 |
Dauphin County General Authority, Harrisburg University Science Technology Project (The), Revenue Bonds (c) | ||
4.25%, due 10/15/26 | 100,000 | 95,713 |
5.00%, due 10/15/30 | 1,000,000 | 952,635 |
Indiana County Industrial Development Authority, Foundation for Indiana University of Pennsylvania (The), Revenue Bonds | ||
Insured: BAM | ||
5.00%, due 5/1/29 | 250,000 | 260,467 |
Lancaster Industrial Development Authority, Landis Homes Retirement Community, Revenue Bonds | ||
4.00%, due 7/1/37 | 100,000 | 83,163 |
Pennsylvania Turnpike Commission, Revenue Bonds | ||
Series B | ||
4.00%, due 12/1/42 | 250,000 | 213,692 |
Series A | ||
5.50%, due 12/1/46 | 1,155,000 | 1,171,297 |
20 | MainStay MacKay Strategic Municipal Allocation Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Pennsylvania (continued) | ||
Philadelphia Authority for Industrial Development, Philadelphia Performing Arts Charter School Project, Revenue Bonds | ||
5.00%, due 6/15/30 (c) | $ 435,000 | $ 425,017 |
Pittsburgh Water & Sewer Authority, Revenue Bonds, First Lien | ||
Series A, Insured: AGM | ||
5.00%, due 9/1/35 (b) | 1,200,000 | 1,255,945 |
6,303,464 | ||
Puerto Rico 1.0% | ||
Commonwealth of Puerto Rico, Unlimited General Obligation | ||
Series A-1 | ||
(zero coupon), due 7/1/24 | 6,953 | 6,327 |
Series A-1 | ||
(zero coupon), due 7/1/33 | 26,797 | 13,659 |
Series A-1 | ||
4.00%, due 7/1/35 | 518,717 | 425,144 |
Series A-1 | ||
4.00%, due 7/1/46 | 22,715 | 16,547 |
Series A-1 | ||
5.375%, due 7/1/25 | 123,191 | 123,211 |
Series A-1 | ||
5.75%, due 7/1/31 | 265,000 | 267,134 |
Commonwealth of Puerto Rico | ||
(zero coupon), due 11/1/43 | 103,450 | 47,328 |
Puerto Rico Commonwealth Aqueduct & Sewer Authority, Revenue Bonds, Senior Lien | ||
Series A | ||
5.00%, due 7/1/37 (c) | 500,000 | 451,919 |
Puerto Rico Sales Tax Financing Corp., Revenue Bonds | ||
Series A-1 | ||
4.50%, due 7/1/34 | 500,000 | 454,570 |
1,805,839 | ||
Rhode Island 1.4% | ||
Providence Public Building Authority, Revenue Bonds | ||
Series A, Insured: AGM | ||
5.00%, due 9/15/38 | 565,000 | 586,950 |
Principal Amount | Value | |
Rhode Island (continued) | ||
Rhode Island Health and Educational Building Corp., Public Schools Financing Program, Revenue Bonds | ||
Series F | ||
5.50%, due 5/15/47 | $ 1,500,000 | $ 1,579,911 |
Rhode Island Housing and Mortgage Finance Corp., Revenue Bonds | ||
Series 77A | ||
5.00%, due 4/1/27 | 555,000 | 580,732 |
2,747,593 | ||
South Dakota 0.3% | ||
Baltic School District No. 49-1, Unlimited General Obligation | ||
Insured: AGM | ||
4.50%, due 12/1/40 | 575,000 | 555,084 |
Tennessee 1.1% | ||
No change, 619 at Old Stone Bridge Crossings LP, Revenue Bonds | ||
Series B | ||
4.00%, due 4/1/26 (a) | 1,511,000 | 1,504,667 |
Tennessee Energy Acquisition Corp., Revenue Bonds | ||
Series B | ||
5.625%, due 9/1/26 | 500,000 | 518,897 |
2,023,564 | ||
Texas 9.4% | ||
Alamito Public Facility Corp., EP WH Mesa Franklin LLC, Revenue Bonds | ||
Insured: FHA 221(D4) | ||
3.50%, due 9/1/25 (a) | 1,003,000 | 984,609 |
Alamito Public Facility Corp., EP WH Cien Palmas LLC, Revenue Bonds | ||
Insured: HUD Sector 8 | ||
3.50%, due 9/1/25 (a) | 1,008,000 | 989,518 |
Barbers Hill Independent School District, Unlimited General Obligation | ||
Insured: PSF-GTD | ||
4.00%, due 2/15/41 | 1,000,000 | 949,462 |
Belmont Fresh Water Supply District No. 1, Unlimited General Obligation | ||
Insured: BAM | ||
5.00%, due 3/1/30 | 440,000 | 462,148 |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Texas (continued) | ||
Central Texas Turnpike System, Revenue Bonds, First Tier | ||
Series A | ||
5.00%, due 8/15/39 | $ 1,000,000 | $ 1,030,842 |
City of Arlington TX, Special Tax, Senior Lien | ||
Series A, Insured: AGM | ||
5.00%, due 2/15/43 | 250,000 | 253,324 |
City of Austin TX, Public Improvement, Limited General Obligation | ||
5.00%, due 9/1/23 | 250,000 | 253,767 |
City of Georgetown TX, Utility System, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 8/15/28 | 1,035,000 | 1,102,648 |
City of Houston TX, Hotel Occupancy Tax & Special Tax, Revenue Bonds | ||
5.00%, due 9/1/28 | 365,000 | 387,042 |
Dallas Fort Worth International Airport, Revenue Bonds | ||
Series A | ||
4.00%, due 11/1/46 | 250,000 | 216,191 |
Series B | ||
5.00%, due 11/1/36 | 1,000,000 | 1,038,289 |
Greater Texoma Utility Authority, City of Sherman Project, Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 10/1/34 | 1,190,000 | 1,270,665 |
Insured: AGM | ||
5.00%, due 10/1/35 | 700,000 | 744,464 |
Harris County Municipal Utility District No. 319, Unlimited General Obligation | ||
Insured: AGM | ||
5.50%, due 9/1/26 | 380,000 | 403,404 |
Houston Higher Education Finance Corp., KIPP, Inc., Revenue Bonds | ||
Series A, Insured: PSF-GTD | ||
4.00%, due 2/15/39 | 1,000,000 | 926,284 |
Laredo Independent School District, Unlimited General Obligation | ||
Insured: PSF-GTD | ||
5.00%, due 8/1/28 | 500,000 | 541,103 |
New Hope Cultural Education Facilities Finance Corp., Outlook at Windhaven Forefront Living, Revenue Bonds | ||
Series B-3 | ||
4.25%, due 10/1/26 | 1,100,000 | 1,068,298 |
Principal Amount | Value | |
Texas (continued) | ||
North Texas Tollway Authority, Revenue Bonds, First Tier | ||
Series A | ||
5.25%, due 1/1/38 | $ 1,000,000 | $ 1,070,559 |
Sabine-Neches Navigation District, Waterway Project, Limited General Obligation | ||
5.25%, due 2/15/39 | 1,500,000 | 1,588,210 |
San Antonio Public Facilities Corp., Revenue Bonds | ||
5.00%, due 9/15/27 | 275,000 | 292,616 |
Texas Department of Housing & Community Affairs, Revenue Bonds | ||
Series A, Insured: GNMA | ||
3.50%, due 7/1/52 | 645,000 | 610,554 |
Texas Water Development Board, State Revolving Fund, Revenue Bonds | ||
5.00%, due 8/1/41 | 1,500,000 | 1,586,142 |
17,770,139 | ||
U.S. Virgin Islands 0.5% | ||
Matching Fund Special Purpose Securitization Corp., Revenue Bonds | ||
Series A | ||
5.00%, due 10/1/26 | 860,000 | 877,901 |
Virgin Islands Public Finance Authority, Gross Receipts Taxes Loan, Revenue Bonds | ||
Series C, Insured: AGM-CR | ||
5.00%, due 10/1/30 | 100,000 | 100,425 |
978,326 | ||
Utah 2.9% | ||
Central Utah Water Conservancy District, Revenue Bonds | ||
Series B | ||
4.00%, due 10/1/39 | 1,000,000 | 921,056 |
Intermountain Power Agency, Revenue Bonds | ||
Series A | ||
5.00%, due 7/1/29 | 500,000 | 546,119 |
Series A | ||
5.00%, due 7/1/30 | 375,000 | 413,190 |
Series A | ||
5.00%, due 7/1/41 | 880,000 | 929,157 |
UIPA Crossroads Public Infrastructure District, Tax Allocation | ||
4.125%, due 6/1/41 (c) | 500,000 | 404,423 |
22 | MainStay MacKay Strategic Municipal Allocation Fund |
Principal Amount | Value | |
Long-Term Municipal Bonds (continued) | ||
Utah (continued) | ||
University of Utah (The), Revenue Bonds | ||
Series B | ||
5.00%, due 8/1/38 | $ 1,000,000 | $ 1,074,231 |
Utah Charter School Finance Authority, North Star Academy Project, Revenue Bonds | ||
Insured: UT CSCE | ||
4.00%, due 4/15/30 | 100,000 | 100,050 |
Utah Charter School Finance Authority, Spectrum Academy Project, Revenue Bonds | ||
Insured: UT CSCE | ||
4.00%, due 4/15/40 | 250,000 | 215,578 |
Utah Charter School Finance Authority, Summit Academy, Inc. Project, Revenue Bonds | ||
Insured: UT CSCE | ||
5.00%, due 4/15/28 | 200,000 | 210,549 |
Insured: UT CSCE | ||
5.00%, due 4/15/29 | 185,000 | 196,130 |
Utah Infrastructure Agency, Revenue Bonds | ||
Series A | ||
5.00%, due 10/15/28 | 460,000 | 458,683 |
5,469,166 | ||
Vermont 0.7% | ||
Vermont Student Assistance Corp., Revenue Bonds | ||
Series A | ||
5.00%, due 6/15/23 (d) | 1,250,000 | 1,258,622 |
Washington 1.1% | ||
State of Washington, Unlimited General Obligation | ||
Series A | ||
5.00%, due 6/1/38 | 1,000,000 | 1,062,852 |
Washington State Convention Center Public Facilities District, Lodging Tax, Revenue Bonds | ||
Series B | ||
4.00%, due 7/1/36 | 1,000,000 | 862,312 |
Principal Amount | Value | |
Washington (continued) | ||
Washington State Housing Finance Commission, Eliseo Project, Revenue Bonds | ||
Series B-2 | ||
2.125%, due 7/1/27 (c) | $ 250,000 | $ 220,721 |
2,145,885 | ||
West Virginia 0.6% | ||
West Virginia Hospital Finance Authority, Charleston Area Medical Center, Inc. Obligated Group, Revenue Bonds | ||
Series A | ||
5.00%, due 9/1/39 | 1,125,000 | 1,107,998 |
Wisconsin 0.6% | ||
Public Finance Authority, Roseman University of Health Sciences, Revenue Bonds | ||
4.00%, due 4/1/32 (c) | 215,000 | 189,077 |
Public Finance Authority, College Achieve Paterson Charter School Project, Revenue Bonds | ||
Series A | ||
4.00%, due 6/15/42 (c) | 260,000 | 198,012 |
Village of Mount Pleasant WI, Revenue Bonds | ||
Series A, Insured: BAM | ||
3.00%, due 3/1/27 | 250,000 | 245,699 |
Wisconsin Health & Educational Facilities Authority, Marshfield Clinic Health System, Inc., Revenue Bonds | ||
Insured: AGM | ||
5.00%, due 2/15/32 | 400,000 | 423,030 |
1,055,818 | ||
Wyoming 0.1% | ||
University of Wyoming, Revenue Bonds | ||
Series C, Insured: AGM | ||
4.00%, due 6/1/42 | 150,000 | 133,916 |
Total Long-Term Municipal Bonds (Cost $184,126,447) | 175,414,583 |
Principal Amount | Value | |
Short-Term Municipal Notes 10.0% | ||
Alabama 0.4% | ||
Black Belt Energy Gas District, Gas Project No.7, Revenue Bonds | ||
Series C-2 | ||
2.59%, due 10/1/52 (e) | $ 700,000 | $ 654,419 |
California 1.1% | ||
California Municipal Finance Authority, Waste Management, Inc., Revenue Bonds | ||
Series A | ||
4.125%, due 10/1/41 (d)(e) | 1,500,000 | 1,484,757 |
Metropolitan Water District of Southern California, Waterworks, Revenue Bonds | ||
Series E | ||
2.38%, due 7/1/37 (e) | 500,000 | 497,624 |
1,982,381 | ||
Colorado 0.1% | ||
Colorado Educational & Cultural Facilities Authority, Mandel Jewish Community Center of Cleveland (The), Revenue Bonds | ||
Series D-6 | ||
1.64%, due 9/1/38 (e) | 250,000 | 250,000 |
Connecticut 0.3% | ||
Connecticut State Health & Educational Facilities Authority, Yale University, Revenue Bonds | ||
Series V-1 | ||
1.33%, due 7/1/36 (e) | 550,000 | 550,000 |
Georgia 0.1% | ||
Development Authority of Burke County (The), Georgia Power Co. Vogtle Project, Revenue Bonds, First Series | ||
1.89%, due 11/1/52 (e) | 250,000 | 250,000 |
Iowa 0.1% | ||
Iowa Finance Authority, Unitypoint Health Project, Revenue Bonds | ||
Series B-1 | ||
1.62%, due 2/15/39 (e) | 250,000 | 250,000 |
Principal Amount | Value | |
Kentucky 0.3% | ||
City of Berea KY, Berea College, Revenue Bonds | ||
Series B | ||
1.64%, due 6/1/29 (e) | $ 615,000 | $ 615,000 |
Missouri 1.0% | ||
Health & Educational Facilities Authority of the State of Missouri, Ranken Technical College, Revenue Bonds | ||
Series B | ||
1.64%, due 11/1/31 (e) | 255,000 | 255,000 |
Health & Educational Facilities Authority of the State of Missouri, Washington University (The), Revenue Bonds | ||
Series B | ||
1.64%, due 3/1/40 (e) | 1,700,000 | 1,700,000 |
1,955,000 | ||
New York 3.2% | ||
City of New York NY, Unlimited General Obligation (e) | ||
Series A-2 | ||
1.65%, due 10/1/38 | 400,000 | 400,000 |
Series B-3 | ||
2.53%, due 10/1/46 | 655,000 | 655,000 |
City of New York NY, Limited General Obligation | ||
Series 3 | ||
2.53%, due 4/1/42 (e) | 3,700,000 | 3,700,000 |
New York City Municipal Water Finance Authority, Water & Sewer System Second General Resolution, Revenue Bonds (e) | ||
Series DD-1 | ||
1.60%, due 6/15/43 | 500,000 | 500,000 |
Series DD | ||
2.53%, due 6/15/33 | 405,000 | 405,000 |
New York City Transitional Finance Authority, Future Tax Secured, Revenue Bonds | ||
Series E-3 | ||
1.59%, due 2/1/45 (e) | 400,000 | 400,000 |
6,060,000 |
24 | MainStay MacKay Strategic Municipal Allocation Fund |
Principal Amount | Value | ||
Short-Term Municipal Notes (continued) | |||
North Carolina 0.9% | |||
Charlotte-Mecklenburg Hospital Authority (The), Atrium Health Obligated Group, Revenue Bonds (e) | |||
Series B | |||
1.64%, due 1/15/38 | $ 800,000 | $ 800,000 | |
Series G | |||
1.64%, due 1/15/48 | 890,000 | 890,000 | |
1,690,000 | |||
Utah 0.2% | |||
City of Murray UT, Intermountain Healthcare Obligated Group, Revenue Bonds | |||
Series C | |||
1.64%, due 5/15/37 (e) | 400,000 | 400,000 | |
Washington 0.4% | |||
County of King WA, Sewer, Revenue Bonds, Junior Lien | |||
Series A | |||
2.47%, due 1/1/40 (e) | 655,000 | 637,224 | |
Wisconsin 1.9% | |||
Tender Option Bond Trust Receipts, Revenue Bonds | |||
Insured: AGM | |||
2.38%, due 12/15/50 (c)(e) | 3,500,000 | 3,500,000 | |
Total Short-Term Municipal Notes (Cost $18,875,000) | 18,794,024 | ||
Total Investments (Cost $203,001,447) | 102.8% | 194,208,607 | |
Other Assets, Less Liabilities | (2.8) | (5,248,458) | |
Net Assets | 100.0% | $ 188,960,149 |
† | 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 October 31, 2022. |
(b) | Delayed delivery security. |
(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) | Interest on these securities was subject to alternative minimum tax. |
(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 10 Year Ultra Bonds | (165) | December 2022 | $ (20,024,302) | $ (19,137,422) | $ 886,880 |
1. | As of October 31, 2022, cash in the amount of $453,750 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 October 31, 2022. |
Abbreviation(s): |
AGM—Assured Guaranty Municipal Corp. |
BAM—Build America Mutual Assurance Co. |
CHF—Collegiate Housing Foundation |
CR—Custodial Receipts |
FHA—Federal Housing Administration |
FHLMC—Federal Home Loan Mortgage Corp. |
FNMA—Federal National Mortgage Association |
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 | $ — | $ 175,414,583 | $ — | $ 175,414,583 | |||
Short-Term Municipal Notes | — | 18,794,024 | — | 18,794,024 | |||
Total Municipal Bonds | — | 194,208,607 | — | 194,208,607 | |||
Other Financial Instruments | |||||||
Futures Contracts (b) | 886,880 | — | — | 886,880 | |||
Total Investments in Securities and Other Financial Instruments | $ 886,880 | $ 194,208,607 | $ — | $ 195,095,487 |
(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. |
26 | MainStay MacKay Strategic Municipal Allocation Fund |
Assets | |
Investment in securities, at value (identified cost $203,001,447) | $194,208,607 |
Cash | 6,642,188 |
Cash collateral on deposit at broker for futures contracts | 453,750 |
Due from custodian | 5,606,177 |
Receivables: | |
Fund shares sold | 2,786,611 |
Investment securities sold | 2,729,918 |
Interest | 1,945,002 |
Variation margin on futures contracts | 105,702 |
Other assets | 72,306 |
Total assets | 214,550,261 |
Liabilities | |
Payables: | |
Investment securities purchased | 25,182,406 |
Fund shares redeemed | 300,294 |
Manager (See Note 3) | 43,437 |
Professional fees | 30,924 |
Shareholder communication | 16,054 |
Custodian | 8,176 |
NYLIFE Distributors (See Note 3) | 3,614 |
Accrued expenses | 5,207 |
Total liabilities | 25,590,112 |
Net assets | $188,960,149 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $ 20,910 |
Additional paid-in-capital | 201,963,717 |
201,984,627 | |
Total distributable earnings (loss) | (13,024,478) |
Net assets | $188,960,149 |
Class A | |
Net assets applicable to outstanding shares | $ 15,001,987 |
Shares of beneficial interest outstanding | 1,657,623 |
Net asset value per share outstanding | $ 9.05 |
Maximum sales charge (3.00% of offering price) | 0.28 |
Maximum offering price per share outstanding | $ 9.33 |
Investor Class | |
Net assets applicable to outstanding shares | $ 113,421 |
Shares of beneficial interest outstanding | 12,550 |
Net asset value per share outstanding | $ 9.04 |
Maximum sales charge (2.50% of offering price) | 0.23 |
Maximum offering price per share outstanding | $ 9.27 |
Class C | |
Net assets applicable to outstanding shares | $ 1,309,916 |
Shares of beneficial interest outstanding | 144,994 |
Net asset value and offering price per share outstanding | $ 9.03 |
Class I | |
Net assets applicable to outstanding shares | $172,510,251 |
Shares of beneficial interest outstanding | 19,092,508 |
Net asset value and offering price per share outstanding | $ 9.04 |
Class R6 | |
Net assets applicable to outstanding shares | $ 24,574 |
Shares of beneficial interest outstanding | 2,720 |
Net asset value and offering price per share outstanding | $ 9.03 |
Investment Income (Loss) | |
Income | |
Interest | $ 1,967,707 |
Expenses | |
Manager (See Note 3) | 286,514 |
Registration | 49,284 |
Professional fees | 33,563 |
Custodian | 22,858 |
Transfer agent (See Note 3) | 22,680 |
Distribution/Service—Class A (See Note 3) | 12,006 |
Distribution/Service—Investor Class (See Note 3) | 198 |
Distribution/Service—Class C (See Note 3) | 2,386 |
Shareholder communication | 8,841 |
Trustees | 1,306 |
Miscellaneous | 6,068 |
Total expenses before waiver/reimbursement | 445,704 |
Expense waiver/reimbursement from Manager (See Note 3) | (61,288) |
Net expenses | 384,416 |
Net investment income (loss) | 1,583,291 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on: | |
Unaffiliated investment transactions | (5,707,610) |
Futures transactions | 1,397,969 |
Net realized gain (loss) | (4,309,641) |
Net change in unrealized appreciation (depreciation) on: | |
Unaffiliated investments | (3,674,688) |
Futures contracts | 352,356 |
Net change in unrealized appreciation (depreciation) | (3,322,332) |
Net realized and unrealized gain (loss) | (7,631,973) |
Net increase (decrease) in net assets resulting from operations | $(6,048,682) |
28 | MainStay MacKay Strategic Municipal Allocation Fund |
for the six months ended October 31, 2022 (Unaudited) and the year ended April 30, 2022
Six months ended October 31, 2022 | Year ended April 30, 2022 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $ 1,583,291 | $ 1,039,155 |
Net realized gain (loss) | (4,309,641) | 417,800 |
Net change in unrealized appreciation (depreciation) | (3,322,332) | (7,062,471) |
Net increase (decrease) in net assets resulting from operations | (6,048,682) | (5,605,516) |
Distributions to shareholders: | ||
Class A | (113,670) | (32,170) |
Investor Class | (1,676) | (1,324) |
Class C | (9,224) | (5,882) |
Class I | (1,669,919) | (1,888,346) |
Class R6 | (320) | (768) |
Total distributions to shareholders | (1,794,809) | (1,928,490) |
Capital share transactions: | ||
Net proceeds from sales of shares | 200,558,431 | 58,605,291 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 1,783,557 | 1,927,984 |
Cost of shares redeemed | (103,540,549) | (16,807,791) |
Increase (decrease) in net assets derived from capital share transactions | 98,801,439 | 43,725,484 |
Net increase (decrease) in net assets | 90,957,948 | 36,191,478 |
Net Assets | ||
Beginning of period | 98,002,201 | 61,810,723 |
End of period | $ 188,960,149 | $ 98,002,201 |
Six months ended October 31, 2022* | Year Ended April 30, | June 28, 2019^ through April 30, | |||||
Class A | 2022 | 2021 | 2020 | ||||
Net asset value at beginning of period | $ 9.50 | $ 10.43 | $ 9.65 | $ 10.00 | |||
Net investment income (loss) | 0.10(a) | 0.12(a) | 0.15(a) | 0.14 | |||
Net realized and unrealized gain (loss) | (0.44) | (0.78) | 0.82 | (0.29) | |||
Total from investment operations | (0.34) | (0.66) | 0.97 | (0.15) | |||
Less distributions: | |||||||
From net investment income | (0.11) | (0.17) | (0.19) | (0.14) | |||
From net realized gain on investments | — | (0.10) | — | (0.06) | |||
Total distributions | (0.11) | (0.27) | (0.19) | (0.20) | |||
Net asset value at end of period | $ 9.05 | $ 9.50 | $ 10.43 | $ 9.65 | |||
Total investment return (b) | (3.65)% | (6.54)% | 10.02% | (1.44)% | |||
Ratios (to average net assets)/Supplemental Data: | |||||||
Net investment income (loss) | 2.08%†† | 1.22% | 1.47% | 1.39%†† | |||
Net expenses | 0.77%†† | 0.77% | 0.72% | 0.77%†† | |||
Expenses (before waiver/reimbursement) | 0.85%†† | 0.97% | 0.98% | 1.12%†† | |||
Portfolio turnover rate (c) | 63% | 32% | 66% | 108% | |||
Net assets at end of period (in 000’s) | $ 15,002 | $ 5,246 | $ 454 | $ 136 |
* | Unaudited. |
^ | 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. |
Six months ended October 31, 2022* | Year Ended April 30, | June 28, 2019^ through April 30, | |||||
Investor Class | 2022 | 2021 | 2020 | ||||
Net asset value at beginning of period | $ 9.49 | $ 10.41 | $ 9.65 | $ 10.00 | |||
Net investment income (loss) | 0.09(a) | 0.11(a) | 0.13(a) | 0.14 | |||
Net realized and unrealized gain (loss) | (0.44) | (0.79) | 0.80 | (0.29) | |||
Total from investment operations | (0.35) | (0.68) | 0.93 | (0.15) | |||
Less distributions: | |||||||
From net investment income | (0.10) | (0.14) | (0.17) | (0.14) | |||
From net realized gain on investments | — | (0.10) | — | (0.06) | |||
Total distributions | (0.10) | (0.24) | (0.17) | (0.20) | |||
Net asset value at end of period | $ 9.04 | $ 9.49 | $ 10.41 | $ 9.65 | |||
Total investment return (b) | (3.73)% | (6.69)% | 9.65% | (1.56)% | |||
Ratios (to average net assets)/Supplemental Data: | |||||||
Net investment income (loss) | 1.82%†† | 1.04% | 1.23% | 1.30%†† | |||
Net expenses | 0.92%†† | 0.97% | 0.98% | 0.79%†† | |||
Expenses (before waiver/reimbursement) | 1.00%†† | 1.17% | 1.24% | 1.14%†† | |||
Portfolio turnover rate (c) | 63% | 32% | 66% | 108% | |||
Net assets at end of period (in 000's) | $ 113 | $ 46 | $ 33 | $ 34 |
* | Unaudited. |
^ | 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. |
30 | MainStay MacKay Strategic Municipal Allocation Fund |
Six months ended October 31, 2022* | Year Ended April 30, | June 28, 2019^ through April 30, | |||||
Class C | 2022 | 2021 | 2020 | ||||
Net asset value at beginning of period | $ 9.48 | $ 10.42 | $ 9.65 | $ 10.00 | |||
Net investment income (loss) | 0.08(a) | 0.08(a) | 0.10(a) | 0.12 | |||
Net realized and unrealized gain (loss) | (0.44) | (0.80) | 0.81 | (0.29) | |||
Total from investment operations | (0.36) | (0.72) | 0.91 | (0.17) | |||
Less distributions: | |||||||
From net investment income | (0.09) | (0.12) | (0.14) | (0.12) | |||
From net realized gain on investments | — | (0.10) | — | (0.06) | |||
Total distributions | (0.09) | (0.22) | (0.14) | (0.18) | |||
Net asset value at end of period | $ 9.03 | $ 9.48 | $ 10.42 | $ 9.65 | |||
Total investment return (b) | (3.86)% | (7.12)% | 9.49% | (1.76)% | |||
Ratios (to average net assets)/Supplemental Data: | |||||||
Net investment income (loss) | 1.64%†† | 0.76% | 0.97% | 1.11%†† | |||
Net expenses | 1.17%†† | 1.22% | 1.23% | 1.03%†† | |||
Expenses (before waiver/reimbursement) | 1.25%†† | 1.42% | 1.49% | 1.38%†† | |||
Portfolio turnover rate (c) | 63% | 32% | 66% | 108% | |||
Net assets at end of period (in 000’s) | $ 1,310 | $ 558 | $ 113 | $ 79 |
* | Unaudited. |
^ | 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. |
Six months ended October 31, 2022* | Year Ended April 30, | June 28, 2019^ through April 30, | |||||
Class I | 2022 | 2021 | 2020 | ||||
Net asset value at beginning of period | $ 9.48 | $ 10.42 | $ 9.65 | $ 10.00 | |||
Net investment income (loss) | 0.11(a) | 0.15(a) | 0.18(a) | 0.16 | |||
Net realized and unrealized gain (loss) | (0.43) | (0.80) | 0.81 | (0.29) | |||
Total from investment operations | (0.32) | (0.65) | 0.99 | (0.13) | |||
Less distributions: | |||||||
From net investment income | (0.12) | (0.19) | (0.22) | (0.16) | |||
From net realized gain on investments | — | (0.10) | — | (0.06) | |||
Total distributions | (0.12) | (0.29) | (0.22) | (0.22) | |||
Net asset value at end of period | $ 9.04 | $ 9.48 | $ 10.42 | $ 9.65 | |||
Total investment return (b) | (3.43)% | (6.43)% | 10.28% | (1.35)% | |||
Ratios (to average net assets)/Supplemental Data: | |||||||
Net investment income (loss) | 2.22%†† | 1.49% | 1.72% | 1.57%†† | |||
Net expenses | 0.52%†† | 0.51% | 0.50% | 0.53%†† | |||
Expenses (before waiver/reimbursement) | 0.60%†† | 0.71% | 0.76% | 0.88%†† | |||
Portfolio turnover rate (c) | 63% | 32% | 66% | 108% | |||
Net assets at end of period (in 000’s) | $ 172,510 | $ 92,126 | $ 61,183 | $ 51,059 |
* | Unaudited. |
^ | 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. |
32 | MainStay MacKay Strategic Municipal Allocation Fund |
Six months ended October 31, 2022* | Year Ended April 30, | June 28, 2019^ through April 30, | |||||
Class R6 | 2022 | 2021 | 2020 | ||||
Net asset value at beginning of period | $ 9.48 | $ 10.42 | $ 9.65 | $ 10.00 | |||
Net investment income (loss) | 0.10(a) | 0.16(a) | 0.18(a) | 0.17 | |||
Net realized and unrealized gain (loss) | (0.43) | (0.80) | 0.81 | (0.29) | |||
Total from investment operations | (0.33) | (0.64) | 0.99 | (0.12) | |||
Less distributions: | |||||||
From net investment income | (0.12) | (0.20) | (0.22) | (0.17) | |||
From net realized gain on investments | — | (0.10) | — | (0.06) | |||
Total distributions | (0.12) | (0.30) | (0.22) | (0.23) | |||
Net asset value at end of period | $ 9.03 | $ 9.48 | $ 10.42 | $ 9.65 | |||
Total investment return (b) | (3.53)% | (6.41)% | 10.28% | (1.32)% | |||
Ratios (to average net assets)/Supplemental Data: | |||||||
Net investment income (loss) | 2.21%†† | 1.51% | 1.72% | 1.60%†† | |||
Net expenses | 0.50%†† | 0.50% | 0.50% | 0.50%†† | |||
Expenses (before waiver/reimbursement) | 0.58%†† | 0.70% | 0.77% | 0.86%†† | |||
Portfolio turnover rate (c) | 63% | 32% | 66% | 108% | |||
Net assets at end of period (in 000’s) | $ 25 | $ 25 | $ 27 | $ 25 |
* | Unaudited. |
^ | 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. |
34 | MainStay MacKay Strategic Municipal Allocation Fund |
• | Level 1—quoted prices (unadjusted) in active markets for an identical asset or liability |
• | Level 2—other significant observable inputs (including quoted prices for a similar asset or liability in active markets, interest rates and yield curves, prepayment speeds, credit risk, etc.) |
• | Level 3—significant unobservable inputs (including the Fund's own assumptions about the assumptions that market participants would use in measuring fair value of an asset or liability) |
• 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 |
36 | MainStay MacKay Strategic Municipal Allocation Fund |
Asset Derivatives | Interest Rate Contracts Risk | Total |
Futures Contracts - Net Assets—Net unrealized appreciation on futures contracts (a) | $886,880 | $886,880 |
Total Fair Value | $886,880 | $886,880 |
(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 | $1,397,969 | $1,397,969 |
Total Net Realized Gain (Loss) | $1,397,969 | $1,397,969 |
Net Change in Unrealized Appreciation (Depreciation) | Interest Rate Contracts Risk | Total |
Futures Contracts | $352,356 | $352,356 |
Total Net Change in Unrealized Appreciation (Depreciation) | $352,356 | $352,356 |
Average Notional Amount | Total |
Futures Contracts Short | $(15,182,761) |
38 | MainStay MacKay Strategic Municipal Allocation Fund |
Class | Expense | Waived |
Class A | $ 1,524 | $— |
Investor Class | 142 | — |
Class C | 872 | — |
Class I | 20,142 | — |
Class R6 | — | — |
Class A | $24,346 | 0.2% |
Investor Class | 24,183 | 21.3 |
Class C | 23,959 | 1.8 |
Class R6 | 24,496 | 99.7 |
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $203,523,181 | $88,971 | $(9,403,545) | $(9,314,574) |
2022 | |
Distributions paid from: | |
Ordinary Income | $ 17,770 |
Long-Term Capital Gains | 594,960 |
Exempt Interest Dividends | 1,315,760 |
Total | $1,928,490 |
Class A | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 1,272,218 | $ 11,877,288 |
Shares issued to shareholders in reinvestment of distributions | 12,233 | 113,401 |
Shares redeemed | (196,801) | (1,842,319) |
Net increase (decrease) in shares outstanding before conversion | 1,087,650 | 10,148,370 |
Shares converted into Class A (See Note 1) | 17,915 | 166,839 |
Net increase (decrease) | 1,105,565 | $ 10,315,209 |
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 |
40 | MainStay MacKay Strategic Municipal Allocation Fund |
Investor Class | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 44,569 | $ 424,003 |
Shares issued to shareholders in reinvestment of distributions | 156 | 1,457 |
Shares redeemed | (19,118) | (180,019) |
Net increase (decrease) in shares outstanding before conversion | 25,607 | 245,441 |
Shares converted from Investor Class (See Note 1) | (17,939) | (166,839) |
Net increase (decrease) | 7,668 | $ 78,602 |
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 |
Class C | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 107,177 | $ 1,000,185 |
Shares issued to shareholders in reinvestment of distributions | 997 | 9,220 |
Shares redeemed | (22,056) | (203,699) |
Net increase (decrease) | 86,118 | $ 805,706 |
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 |
Class I | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 20,006,267 | $ 187,256,955 |
Shares issued to shareholders in reinvestment of distributions | 178,616 | 1,659,159 |
Shares redeemed | (10,805,710) | (101,314,512) |
Net increase (decrease) | 9,379,173 | $ 87,601,602 |
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 |
Class R6 | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares issued to shareholders in reinvestment of distributions | 34 | $ 320 |
Net increase (decrease) | 34 | $ 320 |
Year ended April 30, 2022: | ||
Shares issued to shareholders in reinvestment of distributions | 75 | $ 768 |
Net increase (decrease) | 75 | $ 768 |
42 | MainStay MacKay Strategic Municipal Allocation Fund |
1.
2. | This Fund is registered for sale in AZ, CA, NV, OR, TX, UT, WA and MI (Class A and Class I shares only), and CO, FL, GA, HI, ID, MA, MD, NH, NJ and NY (Class I shares only). |
3. | This Fund is registered for sale in CA, CT, DE, FL, MA, NJ, NY and VT. |
4. | An affiliate of New York Life Investment Management LLC. |
5013753.2MS229-22 | MSMSMA10-12/22 |
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 |
President
Average Annual Total Returns for the Period-Ended October 31, 2022 | |||||||
Class | Sales Charge | Inception Date | Six Months1 | One Year | Since Inception | Gross Expense Ratio2 | |
Class A Shares | Maximum 3% Initial Sales Charge | With sales charges | 6/30/2020 | -7.54% | -15.07% | -3.90% | 1.89% |
Excluding sales charges | -4.68 | -12.44 | -2.64 | 1.89 | |||
Class C Shares | Maximum 1% CDSC | With sales charges | 6/30/2020 | -6.00 | -13.98 | -3.37 | 2.74 |
if redeemed Within One Year of Purchase | Excluding sales charges | -5.06 | -13.13 | -3.37 | 2.74 | ||
Class I Shares | No Sales Charge | 6/30/2020 | -4.67 | -12.32 | -2.42 | 1.64 | |
Class R3 Shares | No Sales Charge | 6/30/2020 | -4.89 | -12.79 | -3.00 | 2.24 | |
SIMPLE Class Shares | No Sales Charge | 8/31/2020 | -4.81 | -12.69 | -4.24 | 2.24 |
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* | Six Months1 | One Year | Since Inception |
Bloomberg U.S. Aggregate Bond Index2 | -6.86% | -15.68% | -7.17% |
S&P 500® Index3 | -5.50 | -14.61 | 11.68 |
MSCI EAFE® Index (Net)4 | -12.70 | -23.00 | 1.68 |
Defensive Allocation Composite Index5 | -6.82 | -15.71 | -3.92 |
Morningstar Allocation-15% to 30% Equity Category Average6 | -5.94 | -12.77 | -0.80 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
1. | Not annualized. |
2. | The Fund has selected the Bloomberg U.S. Aggregate Bond Index as the primary broad-based securities market index for comparison purposes. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, 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. |
3. | The S&P 500® Index is the Fund's secondary benchmark. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance. |
4. | The Fund has selected the MSCI EAFE® Index (Net) as an additional benchmark. The MSCI EAFE® Index (Net) consists of international stocks representing the developed world outside of North America. |
5. | The Fund has selected the Defensive Allocation Index as an additional benchmark. The Defensive Allocation Index consists of the S&P 500® Index, the MSCI EAFE® Index and the Bloomberg U.S. Aggregate Bond Index weighted 15%, 5% and 80%, respectively. |
6. | 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 5/1/22 | Ending Account Value (Based on Actual Returns and Expenses) 10/31/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 10/31/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $953.20 | $3.94 | $1,021.17 | $4.08 | 0.80% |
Class C Shares | $1,000.00 | $949.40 | $7.62 | $1,017.39 | $7.88 | 1.55% |
Class I Shares | $1,000.00 | $953.30 | $2.71 | $1,022.43 | $2.80 | 0.55% |
Class R3 Shares | $1,000.00 | $951.10 | $5.66 | $1,019.41 | $5.85 | 1.15% |
SIMPLE Class Shares | $1,000.00 | $951.90 | $5.17 | $1,019.91 | $5.35 | 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 184 (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. |
Equity Funds | 21.2 % |
Fixed Income Funds | 72.0 |
Short-Term Investments | 26.5 |
Other Assets, Less Liabilities | (19.7) |
8 | MainStay Defensive ETF Allocation Fund |
• | Management of the stock/bond blend: The Fund’s management of its stock/bond blend proved generally successful, reflecting tactical adjustments made throughout the reporting period. With both investment-grade bonds and U.S. stocks posting declines in the mid-teens, there was little cost or benefit to being persistently overweight or underweight in equities, although adjusting that exposure over time (buying dips and selling rallies) added significant value. |
• | Value created within asset classes: The equity portion of the Fund emphasized value over growth, with specific focus on energy companies and defensive sectors that the market rewarded. |
• | Shorter duration:2 We shortened the average duration of the fixed-income portion of the Fund by holding cash and emphasizing exposure to iShares® 0-5 Year High Yield Corporate Bond ETF over its full duration counterpart, iShares® Broad USD High Yield Corporate Bond ETF. Both moves lifted relative returns. |
1. | See page 5 for other share class returns, which may be higher or lower than Class I share returns. See page 6 for more information on benchmark and peer group returns |
2. | Duration is a measure of the price sensitivity of a fixed-income investment to changes in interest rates. Duration is expressed as a number of years and is considered a more accurate sensitivity gauge than average maturity. |
3. | The expression “excess return” may refer to the return that a security or portfolio provides above (or below) an investment with the lowest perceived risk, such as comparable U.S. Treasury securities. The expression may also refer to the return that a security or portfolio provides above (or below) an index or other benchmark. |
10 | MainStay Defensive ETF Allocation Fund |
Shares | Value | ||
Investment Companies 93.2% | |||
Equity Funds 21.2% | |||
Health Care Select Sector SPDR Fund (a) | 1,365 | $ 181,204 | |
Invesco S&P 500 Low Volatility ETF | 3,770 | 232,760 | |
iShares Core MSCI EAFE ETF | 1,834 | 102,190 | |
iShares Core S&P Small-Cap ETF | 4,703 | 460,518 | |
iShares Semiconductor ETF (a) | 144 | 47,013 | |
Schwab U.S. Mid-Cap ETF | 1,764 | 116,318 | |
Schwab U.S. Small-Cap ETF | 6,077 | 254,262 | |
SPDR S&P Oil & Gas Exploration & Production ETF | 351 | 53,103 | |
VanEck Gold Miners ETF | 3,976 | 96,060 | |
VanEck Oil Services ETF (a) | 213 | 63,623 | |
Vanguard Mega Cap ETF | 1,436 | 192,984 | |
Vanguard Mega Cap Value ETF (a) | 1,032 | 104,015 | |
Vanguard Mid-Cap ETF | 934 | 190,527 | |
Total Equity Funds (Cost $2,152,916) | 2,094,577 | ||
Fixed Income Funds 72.0% | |||
Invesco Senior Loan ETF (a) | 46,529 | 964,081 | |
iShares 0-5 Year High Yield Corporate Bond ETF (a) | 15,511 | 633,624 | |
iShares 20+ Year Treasury Bond ETF | 966 | 92,842 | |
iShares Broad USD High Yield Corporate Bond ETF (a) | 9,991 | 344,590 | |
iShares Broad USD Investment Grade Corporate Bond ETF | 20,063 | 951,789 | |
iShares Core U.S. Aggregate Bond ETF | 23,063 | 2,188,679 | |
Schwab U.S. Aggregate Bond ETF (a) | 43,125 | 1,927,256 | |
Total Fixed Income Funds (Cost $8,121,485) | 7,102,861 | ||
Total Investment Companies (Cost $10,274,401) | 9,197,438 | ||
Short-Term Investments 26.5% | |||
Affiliated Investment Company 6.3% | |||
MainStay U.S. Government Liquidity Fund, 2.905% (b) | 623,216 | 623,216 | |
Unaffiliated Investment Company 20.2% | |||
Invesco Government & Agency Portfolio, 3.163% (b)(c) | 1,988,887 | 1,988,887 | |
Total Short-Term Investments (Cost $2,612,103) | 2,612,103 | ||
Total Investments (Cost $12,886,504) | 119.7% | 11,809,541 | |
Other Assets, Less Liabilities | (19.7) | (1,943,655) | |
Net Assets | 100.0% | $ 9,865,886 |
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 October 31, 2022, the aggregate market value of securities on loan was $2,019,079; the total market value of collateral held by the Fund was $2,081,726. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $92,839. The Fund received cash collateral with a value of $1,988,887. (See Note 2(G)) |
(b) | Current yield as of October 31, 2022. |
(c) | Represents a security purchased with cash collateral received for securities on loan. |
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 |
MainStay U.S. Government Liquidity Fund | $ 274 | $ 3,425 | $ (3,076) | $ — | $ — | $ 623 | $ 3 | $ — | 623 |
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 | $ 2,094,577 | $ — | $ — | $ 2,094,577 | |||
Fixed Income Funds | 7,102,861 | — | — | 7,102,861 | |||
Total Investment Companies | 9,197,438 | — | — | 9,197,438 | |||
Short-Term Investments | |||||||
Affiliated Investment Company | 623,216 | — | — | 623,216 | |||
Unaffiliated Investment Company | 1,988,887 | — | — | 1,988,887 | |||
Total Short-Term Investments | 2,612,103 | — | — | 2,612,103 | |||
Total Investments in Securities | $ 11,809,541 | $ — | $ — | $ 11,809,541 |
(a) | For a complete listing of investments, see the Portfolio of Investments. |
Assets | |
Investment in unaffiliated securities, at value (identified cost $12,263,288) including securities on loan of $2,019,079 | $11,186,325 |
Investment in affiliated investment companies, at value (identified cost $623,216) | 623,216 |
Cash | 2 |
Receivables: | |
Manager (See Note 3) | 9,349 |
Securities lending | 6,123 |
Fund shares sold | 5,015 |
Interest | 1,136 |
Other assets | 55,946 |
Total assets | 11,887,112 |
Liabilities | |
Cash collateral received for securities on loan | 1,988,887 |
Payables: | |
Professional fees | 16,127 |
Shareholder communication | 5,415 |
Custodian | 3,390 |
NYLIFE Distributors (See Note 3) | 2,206 |
Fund shares redeemed | 2,000 |
Trustees | 475 |
Transfer agent (See Note 3) | 443 |
Accrued expenses | 2,283 |
Total liabilities | 2,021,226 |
Net assets | $ 9,865,886 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $ 1,104 |
Additional paid-in-capital | 11,142,639 |
11,143,743 | |
Total distributable earnings (loss) | (1,277,857) |
Net assets | $ 9,865,886 |
Class A | |
Net assets applicable to outstanding shares | $9,260,728 |
Shares of beneficial interest outstanding | 1,036,268 |
Net asset value per share outstanding | $ 8.94 |
Maximum sales charge (3.00% of offering price) | 0.28 |
Maximum offering price per share outstanding | $ 9.22 |
Class C | |
Net assets applicable to outstanding shares | $ 89,080 |
Shares of beneficial interest outstanding | 9,976 |
Net asset value and offering price per share outstanding | $ 8.93 |
Class I | |
Net assets applicable to outstanding shares | $ 38,835 |
Shares of beneficial interest outstanding | 4,348 |
Net asset value and offering price per share outstanding | $ 8.93 |
Class R3 | |
Net assets applicable to outstanding shares | $ 48,843 |
Shares of beneficial interest outstanding | 5,468 |
Net asset value and offering price per share outstanding | $ 8.93 |
SIMPLE Class | |
Net assets applicable to outstanding shares | $ 428,400 |
Shares of beneficial interest outstanding | 47,939 |
Net asset value and offering price per share outstanding | $ 8.94 |
14 | MainStay Defensive ETF Allocation Fund |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated | $ 145,280 |
Securities lending, net | 27,242 |
Dividends-affiliated | 3,120 |
Total income | 175,642 |
Expenses | |
Registration | 39,110 |
Professional fees | 16,028 |
Distribution/Service—Class A (See Note 3) | 11,730 |
Distribution/Service—Class C (See Note 3) | 506 |
Distribution/Service—Class R3 (See Note 3) | 92 |
Distribution/Service—SIMPLE Class (See Note 3) | 899 |
Manager (See Note 3) | 9,919 |
Custodian | 8,903 |
Transfer agent (See Note 3) | 3,593 |
Shareholder communication | 1,594 |
Trustees | 48 |
Shareholder service (See Note 3) | 19 |
Miscellaneous | 2,146 |
Total expenses before waiver/reimbursement | 94,587 |
Expense waiver/reimbursement from Manager (See Note 3) | (54,065) |
Net expenses | 40,522 |
Net investment income (loss) | 135,120 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on unaffiliated investments | (196,463) |
Net change in unrealized appreciation (depreciation) on unaffiliated investments | (414,007) |
Net realized and unrealized gain (loss) | (610,470) |
Net increase (decrease) in net assets resulting from operations | $(475,350) |
for the six months ended October 31, 2022 (Unaudited) and the year ended April 30, 2022
Six months ended October 31, 2022 | Year ended April 30, 2022 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $ 135,120 | $ 169,523 |
Net realized gain (loss) | (196,463) | 29,411 |
Net change in unrealized appreciation (depreciation) | (414,007) | (878,389) |
Net increase (decrease) in net assets resulting from operations | (475,350) | (679,455) |
Distributions to shareholders: | ||
Class A | (115,130) | (248,280) |
Class C | (864) | (2,845) |
Class I | (503) | (1,116) |
Class R3 | (422) | (758) |
SIMPLE Class | (3,941) | (3,645) |
Total distributions to shareholders | (120,860) | (256,644) |
Capital share transactions: | ||
Net proceeds from sales of shares | 1,701,356 | 5,073,474 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 120,125 | 254,651 |
Cost of shares redeemed | (1,180,573) | (5,451,399) |
Increase (decrease) in net assets derived from capital share transactions | 640,908 | (123,274) |
Net increase (decrease) in net assets | 44,698 | (1,059,373) |
Net Assets | ||
Beginning of period | 9,821,188 | 10,880,561 |
End of period | $ 9,865,886 | $ 9,821,188 |
16 | MainStay Defensive ETF Allocation Fund |
Six months ended October 31, 2022* | Year Ended April 30, | June 30, 2020^ through April 30, | |||
Class A | 2022 | 2021 | |||
Net asset value at beginning of period | $ 9.50 | $ 10.44 | $ 10.00 | ||
Net investment income (loss) (a) | 0.13 | 0.18 | 0.13 | ||
Net realized and unrealized gain (loss) | (0.58) | (0.84) | 0.41 | ||
Total from investment operations | (0.45) | (0.66) | 0.54 | ||
Less distributions: | |||||
From net investment income | (0.11) | (0.19) | (0.10) | ||
From net realized gain on investments | — | (0.09) | — | ||
Total distributions | (0.11) | (0.28) | (0.10) | ||
Net asset value at end of period | $ 8.94 | $ 9.50 | $ 10.44 | ||
Total investment return (b) | (4.68)% | (6.49)% | 5.38% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 2.74%†† | 1.79% | 1.45%†† | ||
Net expenses (c) | 0.80%†† | 0.80% | 0.80%†† | ||
Expenses (before waiver/reimbursement) (c) | 1.89%†† | 1.75% | 2.36%†† | ||
Portfolio turnover rate | 36% | 79% | 69% | ||
Net assets at end of period (in 000’s) | $ 9,261 | $ 9,366 | $ 8,572 |
* | Unaudited. |
^ | 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. |
Six months ended October 31, 2022* | Year Ended April 30, | June 30, 2020^ through April 30, | |||
Class C | 2022 | 2021 | |||
Net asset value at beginning of period | $ 9.49 | $ 10.44 | $ 10.00 | ||
Net investment income (loss) (a) | 0.10 | 0.11 | 0.06 | ||
Net realized and unrealized gain (loss) | (0.58) | (0.85) | 0.43 | ||
Total from investment operations | (0.48) | (0.74) | 0.49 | ||
Less distributions: | |||||
From net investment income | (0.08) | (0.12) | (0.05) | ||
From net realized gain on investments | — | (0.09) | — | ||
Total distributions | (0.08) | (0.21) | (0.05) | ||
Net asset value at end of period | $ 8.93 | $ 9.49 | $ 10.44 | ||
Total investment return (b) | (5.06)% | (7.28)% | 4.85% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 2.24%†† | 1.07% | 0.74%†† | ||
Net expenses (c) | 1.55%†† | 1.55% | 1.55%†† | ||
Expenses (before waiver/reimbursement) (c) | 2.71%†† | 2.60% | 3.13%†† | ||
Portfolio turnover rate | 36% | 79% | 69% | ||
Net assets at end of period (in 000’s) | $ 89 | $ 117 | $ 162 |
* | Unaudited. |
^ | 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. |
18 | MainStay Defensive ETF Allocation Fund |
Six months ended October 31, 2022* | Year Ended April 30, | June 30, 2020^ through April 30, | |||
Class I | 2022 | 2021 | |||
Net asset value at beginning of period | $ 9.50 | $ 10.44 | $ 10.00 | ||
Net investment income (loss) (a) | 0.14 | 0.24 | 0.16 | ||
Net realized and unrealized gain (loss) | (0.58) | (0.87) | 0.40 | ||
Total from investment operations | (0.44) | (0.63) | 0.56 | ||
Less distributions: | |||||
From net investment income | (0.13) | (0.22) | (0.12) | ||
From net realized gain on investments | — | (0.09) | — | ||
Total distributions | (0.13) | (0.31) | (0.12) | ||
Net asset value at end of period | $ 8.93 | $ 9.50 | $ 10.44 | ||
Total investment return (b) | (4.67)% | (6.25)% | 5.65% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 3.08%†† | 2.33% | 1.82%†† | ||
Net expenses (c) | 0.55%†† | 0.55% | 0.55%†† | ||
Expenses (before waiver/reimbursement) (c) | 1.64%†† | 1.50% | 2.11%†† | ||
Portfolio turnover rate | 36% | 79% | 69% | ||
Net assets at end of period (in 000’s) | $ 39 | $ 35 | $ 2,040 |
* | Unaudited. |
^ | 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. |
Six months ended October 31, 2022* | Year Ended April 30, | June 30, 2020^ through April 30, | |||
Class R3 | 2022 | 2021 | |||
Net asset value at beginning of period | $ 9.49 | $ 10.44 | $ 10.00 | ||
Net investment income (loss) (a) | 0.11 | 0.15 | 0.11 | ||
Net realized and unrealized gain (loss) | (0.57) | (0.85) | 0.41 | ||
Total from investment operations | (0.46) | (0.70) | 0.52 | ||
Less distributions: | |||||
From net investment income | (0.10) | (0.16) | (0.08) | ||
From net realized gain on investments | — | (0.09) | — | ||
Total distributions | (0.10) | (0.25) | (0.08) | ||
Net asset value at end of period | $ 8.93 | $ 9.49 | $ 10.44 | ||
Total investment return (b) | (4.89)% | (6.91)% | 5.18% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 2.32%†† | 1.45% | 1.22%†† | ||
Net expenses (c) | 1.15%†† | 1.15% | 1.15%†† | ||
Expenses (before waiver/reimbursement) (c) | 2.24%†† | 2.10% | 2.71%†† | ||
Portfolio turnover rate | 36% | 79% | 69% | ||
Net assets at end of period (in 000’s) | $ 49 | $ 32 | $ 26 |
* | Unaudited. |
^ | 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. |
20 | MainStay Defensive ETF Allocation Fund |
Six months ended October 31, 2022* | Year Ended April 30, | August 31, 2020^ through April 30, | |||
SIMPLE Class | 2022 | 2021 | |||
Net asset value at beginning of period | $ 9.50 | $ 10.44 | $ 10.26 | ||
Net investment income (loss) (a) | 0.11 | 0.15 | 0.10 | ||
Net realized and unrealized gain (loss) | (0.57) | (0.83) | 0.16 | ||
Total from investment operations | (0.46) | (0.68) | 0.26 | ||
Less distributions: | |||||
From net investment income | (0.10) | (0.17) | (0.08) | ||
From net realized gain on investments | — | (0.09) | — | ||
Total distributions | (0.10) | (0.26) | (0.08) | ||
Net asset value at end of period | $ 8.94 | $ 9.50 | $ 10.44 | ||
Total investment return (b) | (4.81)% | (6.74)% | 2.56% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 2.37%†† | 1.45% | 1.13%†† | ||
Net expenses (c) | 1.05%†† | 1.05% | 1.05%†† | ||
Expenses (before waiver/reimbursement) (c) | 2.21%†† | 2.10% | 2.63%†† | ||
Portfolio turnover rate | 36% | 79% | 69% | ||
Net assets at end of period (in 000’s) | $ 428 | $ 271 | $ 80 |
* | Unaudited. |
^ | 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. |
Average Annual Total Returns for the Period-Ended October 31, 2022 | |||||||
Class | Sales Charge | Inception Date | Six Months1 | One Year | Since Inception | Gross Expense Ratio2 | |
Class A Shares | Maximum 3% Initial Sales Charge | With sales charges | 6/30/2020 | -7.91% | -16.05% | -1.23% | 1.03% |
Excluding sales charges | -5.06 | -13.45 | 0.06 | 1.03 | |||
Class C Shares | Maximum 1% CDSC | With sales charges | 6/30/2020 | -6.29 | -14.91 | -0.71 | 1.85 |
if redeemed Within One Year of Purchase | Excluding sales charges | -5.35 | -14.07 | -0.71 | 1.85 | ||
Class I Shares | No Sales Charge | 6/30/2020 | -4.94 | -13.31 | 0.27 | 0.78 | |
Class R3 Shares | No Sales Charge | 6/30/2020 | -5.24 | -13.77 | -0.31 | 1.38 | |
SIMPLE Class Shares | No Sales Charge | 8/31/2020 | -5.18 | -13.66 | -2.25 | 1.35 |
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. |
22 | MainStay Conservative ETF Allocation Fund |
Benchmark Performance* | Six Months1 | One Year | Since Inception |
Bloomberg U.S. Aggregate Bond Index2 | -6.86% | -15.68% | -7.17% |
S&P 500® Index3 | -5.50 | -14.61 | 11.68 |
MSCI EAFE® Index (Net)4 | -12.70 | -23.00 | 1.68 |
Conservative Allocation Composite Index5 | -6.84 | -15.83 | -0.65 |
Morningstar Allocation-30% to 50% Equity Category Average6 | -6.84 | -14.82 | 0.98 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
1. | Not annualized. |
2. | The Fund has selected the Bloomberg U.S. Aggregate Bond Index as the primary broad-based securities market index for comparison purposes. The Bloomberg U.S. Aggregate Bond Index is a broad-based benchmark that measures the investment grade, U.S. dollar-denominated, fixed-rate taxable bond market, including Treasuries, 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. |
3. | The S&P 500® Index is the Fund's secondary benchmark. The S&P 500® Index is widely regarded as the standard index for measuring large-cap U.S. stock market performance. |
4. | The Fund has selected the MSCI EAFE® Index (Net) as an additional benchmark. The MSCI EAFE® Index (Net) consists of international stocks representing the developed world outside of North America. |
5. | 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. |
6. | 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% to 50%. Results are based on average total returns of similar funds with all dividends and capital gain distributions reinvested. |
Share Class | Beginning Account Value 5/1/22 | Ending Account Value (Based on Actual Returns and Expenses) 10/31/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 10/31/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $949.40 | $3.93 | $1,021.17 | $4.08 | 0.80% |
Class C Shares | $1,000.00 | $946.50 | $7.60 | $1,017.39 | $7.88 | 1.55% |
Class I Shares | $1,000.00 | $950.60 | $2.70 | $1,022.43 | $2.80 | 0.55% |
Class R3 Shares | $1,000.00 | $947.60 | $5.65 | $1,019.41 | $5.85 | 1.15% |
SIMPLE Class Shares | $1,000.00 | $948.20 | $5.16 | $1,019.91 | $5.35 | 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 184 (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. |
24 | MainStay Conservative ETF Allocation Fund |
Equity Funds | 41.3 % |
Fixed Income Funds | 52.1 |
Short-Term Investments | 30.8 |
Other Assets, Less Liabilities | (24.2) |
• | Management of the stock/bond blend: The Fund’s management of its stock/bond blend proved generally successful, reflecting tactical adjustments made throughout the reporting period. With both investment-grade bonds and U.S. stocks posting declines in the mid-teens, there was little cost or benefit to being persistently overweight or underweight in equities, although adjusting that exposure over time (buying dips and selling rallies) added significant value. |
• | Value created within asset classes: The equity portion of the Fund emphasized value over growth, with a specific focus on energy companies and defensive sectors that the market |
• | Shorter duration:2 We shortened the average duration of the fixed-income portion of the Fund by holding cash and emphasizing exposure to iShares® 0-5 Year High Yield Corporate Bond ETF over its full duration counterpart, iShares® Broad USD High Yield Corporate Bond ETF. Both moves lifted relative returns. |
• | Also noteworthy is the fact that the internally maintained blend of indices against which the Fund is managed significantly outperformed the median return of peers within the Morningstar category to which the Fund is assigned, providing a tailwind to relative performance. |
1. | See page 22 for other share class returns, which may be higher or lower than Class I share returns. See page 23 for more information on benchmark and peer group returns. |
2. | Duration is a measure of the price sensitivity of a fixed-income investment to changes in interest rates. Duration is expressed as a number of years and is considered a more accurate sensitivity gauge than average maturity. |
3. | The expression “excess return” may refer to the return that a security or portfolio provides above (or below) an investment with the lowest perceived risk, such as comparable U.S. Treasury securities. The expression may also refer to the return that a security or portfolio provides above (or below) an index or other benchmark. |
26 | MainStay Conservative ETF Allocation Fund |
28 | MainStay Conservative ETF Allocation Fund |
Shares | Value | |
Investment Companies 93.4% | ||
Equity Funds 41.3% | ||
Health Care Select Sector SPDR Fund (a) | 4,724 | $ 627,111 |
Invesco S&P 500 Low Volatility ETF | 13,023 | 804,040 |
iShares Core MSCI EAFE ETF | 28,080 | 1,564,618 |
iShares Core MSCI Emerging Markets ETF | 11,477 | 486,051 |
iShares Core S&P Small-Cap ETF (a) | 18,371 | 1,798,888 |
iShares Semiconductor ETF (a) | 527 | 172,055 |
Schwab U.S. Mid-Cap ETF | 11,785 | 777,103 |
Schwab U.S. Small-Cap ETF (a) | 42,879 | 1,794,057 |
SPDR S&P Oil & Gas Exploration & Production ETF (a) | 1,210 | 183,061 |
VanEck Gold Miners ETF | 13,802 | 333,456 |
VanEck Oil Services ETF (a) | 733 | 218,947 |
Vanguard Mega Cap ETF | 26,294 | 3,533,651 |
Vanguard Mega Cap Value ETF | 5,453 | 549,608 |
Vanguard Mid-Cap ETF | 6,619 | 1,350,210 |
Total Equity Funds (Cost $14,152,054) | 14,192,856 | |
Fixed Income Funds 52.1% | ||
Invesco Senior Loan ETF (a) | 121,173 | 2,510,704 |
iShares 0-5 Year High Yield Corporate Bond ETF (a) | 37,494 | 1,531,630 |
iShares 20+ Year Treasury Bond ETF | 3,335 | 320,527 |
iShares Broad USD High Yield Corporate Bond ETF (a) | 29,698 | 1,024,284 |
iShares Broad USD Investment Grade Corporate Bond ETF | 48,365 | 2,294,436 |
iShares Core U.S. Aggregate Bond ETF | 58,559 | 5,557,250 |
Schwab U.S. Aggregate Bond ETF (a) | 104,105 | 4,652,452 |
Total Fixed Income Funds (Cost $20,509,883) | 17,891,283 | |
Total Investment Companies (Cost $34,661,937) | 32,084,139 | |
Short-Term Investments 30.8% | ||
Affiliated Investment Company 6.5% | ||
MainStay U.S. Government Liquidity Fund, 2.905% (b) | 2,214,307 | 2,214,307 |
Unaffiliated Investment Companies 24.3% | ||
Invesco Government & Agency Portfolio, 3.163% (b)(c) | 6,362,732 | 6,362,732 |
Shares | Value | ||
Short-Term Investments (continued) | |||
Unaffiliated Investment Companies (continued) | |||
State Street Institutional U.S. Government Money Market Fund, 3.064% (b)(c) | 2,000,000 | $ 2,000,000 | |
Total Unaffiliated Investment Companies (Cost $8,362,732) | 8,362,732 | ||
Total Short-Term Investments (Cost $10,577,039) | 10,577,039 | ||
Total Investments (Cost $45,238,976) | 124.2% | 42,661,178 | |
Other Assets, Less Liabilities | (24.2) | (8,310,689) | |
Net Assets | 100.0% | $ 34,350,489 |
† | Percentages indicated are based on Fund net assets. |
(a) | All or a portion of this security was held on loan. As of October 31, 2022, the aggregate market value of securities on loan was $8,663,772; the total market value of collateral held by the Fund was $8,958,944. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $596,212. The Fund received cash collateral with a value of $8,362,732. (See Note 2(G)) |
(b) | Current yield as of October 31, 2022. |
(c) | Represents a security purchased with cash collateral received for securities on loan. |
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 |
MainStay U.S. Government Liquidity Fund | $ 919 | $ 9,042 | $ (7,747) | $ — | $ — | $ 2,214 | $ 11 | $ — | 2,214 |
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 |
30 | MainStay Conservative 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 | $ 14,192,856 | $ — | $ — | $ 14,192,856 | |||
Fixed Income Funds | 17,891,283 | — | — | 17,891,283 | |||
Total Investment Companies | 32,084,139 | — | — | 32,084,139 | |||
Short-Term Investments | |||||||
Affiliated Investment Company | 2,214,307 | — | — | 2,214,307 | |||
Unaffiliated Investment Companies | 8,362,732 | — | — | 8,362,732 | |||
Total Short-Term Investments | 10,577,039 | — | — | 10,577,039 | |||
Total Investments in Securities | $ 42,661,178 | $ — | $ — | $ 42,661,178 |
(a) | For a complete listing of investments, see the Portfolio of Investments. |
Assets | |
Investment in unaffiliated securities, at value (identified cost $43,024,669) including securities on loan of $8,663,772 | $40,446,871 |
Investment in affiliated investment companies, at value (identified cost $2,214,307) | 2,214,307 |
Receivables: | |
Fund shares sold | 24,612 |
Securities lending | 18,717 |
Dividends | 3,873 |
Other assets | 54,600 |
Total assets | 42,762,980 |
Liabilities | |
Cash collateral received for securities on loan | 8,362,732 |
Due to custodian | 59 |
Payables: | |
Professional fees | 16,138 |
Investment securities purchased | 8,500 |
NYLIFE Distributors (See Note 3) | 7,758 |
Shareholder communication | 3,999 |
Custodian | 3,951 |
Fund shares redeemed | 3,881 |
Transfer agent (See Note 3) | 2,824 |
Manager (See Note 3) | 46 |
Accrued expenses | 2,603 |
Total liabilities | 8,412,491 |
Net assets | $34,350,489 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $ 3,582 |
Additional paid-in-capital | 38,218,720 |
38,222,302 | |
Total distributable earnings (loss) | (3,871,813) |
Net assets | $34,350,489 |
Class A | |
Net assets applicable to outstanding shares | $32,101,064 |
Shares of beneficial interest outstanding | 3,347,440 |
Net asset value per share outstanding | $ 9.59 |
Maximum sales charge (3.00% of offering price) | 0.30 |
Maximum offering price per share outstanding | $ 9.89 |
Class C | |
Net assets applicable to outstanding shares | $ 388,686 |
Shares of beneficial interest outstanding | 40,613 |
Net asset value and offering price per share outstanding | $ 9.57 |
Class I | |
Net assets applicable to outstanding shares | $ 31,709 |
Shares of beneficial interest outstanding | 3,312 |
Net asset value and offering price per share outstanding | $ 9.57 |
Class R3 | |
Net assets applicable to outstanding shares | $ 361,180 |
Shares of beneficial interest outstanding | 37,711 |
Net asset value and offering price per share outstanding | $ 9.58 |
SIMPLE Class | |
Net assets applicable to outstanding shares | $ 1,467,850 |
Shares of beneficial interest outstanding | 153,217 |
Net asset value and offering price per share outstanding | $ 9.58 |
32 | MainStay Conservative ETF Allocation Fund |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated | $ 477,653 |
Securities lending, net | 82,653 |
Dividends-affiliated | 10,674 |
Total income | 570,980 |
Expenses | |
Distribution/Service—Class A (See Note 3) | 40,907 |
Distribution/Service—Class C (See Note 3) | 2,009 |
Distribution/Service—Class R3 (See Note 3) | 725 |
Distribution/Service—SIMPLE Class (See Note 3) | 3,207 |
Registration | 40,045 |
Manager (See Note 3) | 34,733 |
Professional fees | 16,716 |
Transfer agent (See Note 3) | 13,600 |
Custodian | 9,715 |
Shareholder communication | 2,766 |
Trustees | 395 |
Shareholder service (See Note 3) | 145 |
Miscellaneous | 2,265 |
Total expenses before waiver/reimbursement | 167,228 |
Expense waiver/reimbursement from Manager (See Note 3) | (24,719) |
Net expenses | 142,509 |
Net investment income (loss) | 428,471 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on unaffiliated investments | (992,308) |
Net change in unrealized appreciation (depreciation) on unaffiliated investments | (1,221,945) |
Net realized and unrealized gain (loss) | (2,214,253) |
Net increase (decrease) in net assets resulting from operations | $(1,785,782) |
for the six months ended October 31, 2022 (Unaudited) and the year ended April 30, 2022
Six months ended October 31, 2022 | Year ended April 30, 2022 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $ 428,471 | $ 513,281 |
Net realized gain (loss) | (992,308) | (90,363) |
Net change in unrealized appreciation (depreciation) | (1,221,945) | (2,811,868) |
Net increase (decrease) in net assets resulting from operations | (1,785,782) | (2,388,950) |
Distributions to shareholders: | ||
Class A | (366,125) | (713,856) |
Class C | (2,968) | (6,834) |
Class I | (407) | (1,541) |
Class R3 | (3,497) | (1,667) |
SIMPLE Class | (13,103) | (13,388) |
Total distributions to shareholders | (386,100) | (737,286) |
Capital share transactions: | ||
Net proceeds from sales of shares | 5,003,986 | 19,899,906 |
Net asset value of shares issued to shareholders in reinvestment of distributions | 383,797 | 727,750 |
Cost of shares redeemed | (3,403,983) | (7,710,201) |
Increase (decrease) in net assets derived from capital share transactions | 1,983,800 | 12,917,455 |
Net increase (decrease) in net assets | (188,082) | 9,791,219 |
Net Assets | ||
Beginning of period | 34,538,571 | 24,747,352 |
End of period | $34,350,489 | $34,538,571 |
34 | MainStay Conservative ETF Allocation Fund |
Six months ended October 31, 2022* | Year Ended April 30, | June 30, 2020^ through April 30, | |||
Class A | 2022 | 2021 | |||
Net asset value at beginning of period | $ 10.22 | $ 11.13 | $ 10.00 | ||
Net investment income (loss) (a) | 0.12 | 0.18 | 0.11 | ||
Net realized and unrealized gain (loss) | (0.64) | (0.84) | 1.12 | ||
Total from investment operations | (0.52) | (0.66) | 1.23 | ||
Less distributions: | |||||
From net investment income | (0.11) | (0.18) | (0.09) | ||
From net realized gain on investments | — | (0.07) | (0.01) | ||
Total distributions | (0.11) | (0.25) | (0.10) | ||
Net asset value at end of period | $ 9.59 | $ 10.22 | $ 11.13 | ||
Total investment return (b) | (5.06)% | (6.09)% | 12.33% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 2.49%†† | 1.63% | 1.25%†† | ||
Net expenses (c) | 0.80%†† | 0.80% | 0.80%†† | ||
Expenses (before waiver/reimbursement) (c) | 0.94%†† | 0.91% | 1.49%†† | ||
Portfolio turnover rate | 35% | 62% | 56% | ||
Net assets at end of period (in 000’s) | $ 32,101 | $ 32,925 | $ 23,951 |
* | Unaudited. |
^ | 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. |
Six months ended October 31, 2022* | Year Ended April 30, | June 30, 2020^ through April 30, | |||
Class C | 2022 | 2021 | |||
Net asset value at beginning of period | $ 10.19 | $ 11.10 | $ 10.00 | ||
Net investment income (loss) (a) | 0.09 | 0.10 | 0.05 | ||
Net realized and unrealized gain (loss) | (0.64) | (0.85) | 1.10 | ||
Total from investment operations | (0.55) | (0.75) | 1.15 | ||
Less distributions: | |||||
From net investment income | (0.07) | (0.09) | (0.04) | ||
From net realized gain on investments | — | (0.07) | (0.01) | ||
Total distributions | (0.07) | (0.16) | (0.05) | ||
Net asset value at end of period | $ 9.57 | $ 10.19 | $ 11.10 | ||
Total investment return (b) | (5.35)% | (6.81)% | 11.51% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 1.74%†† | 0.90% | 0.58%†† | ||
Net expenses (c) | 1.55%†† | 1.55% | 1.55%†† | ||
Expenses (before waiver/reimbursement) (c) | 1.74%†† | 1.73% | 2.24%†† | ||
Portfolio turnover rate | 35% | 62% | 56% | ||
Net assets at end of period (in 000’s) | $ 389 | $ 413 | $ 472 |
* | Unaudited. |
^ | 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. |
36 | MainStay Conservative ETF Allocation Fund |
Six months ended October 31, 2022* | Year Ended April 30, | June 30, 2020^ through April 30, | |||
Class I | 2022 | 2021 | |||
Net asset value at beginning of period | $ 10.20 | $ 11.13 | $ 10.00 | ||
Net investment income (loss) (a) | 0.14 | 0.21 | 0.15 | ||
Net realized and unrealized gain (loss) | (0.65) | (0.85) | 1.10 | ||
Total from investment operations | (0.51) | (0.64) | 1.25 | ||
Less distributions: | |||||
From net investment income | (0.12) | (0.22) | (0.11) | ||
From net realized gain on investments | — | (0.07) | (0.01) | ||
Total distributions | (0.12) | (0.29) | (0.12) | ||
Net asset value at end of period | $ 9.57 | $ 10.20 | $ 11.13 | ||
Total investment return (b) | (4.94)% | (5.86)% | 12.47% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 2.74%†† | 1.89% | 1.71%†† | ||
Net expenses (c) | 0.55%†† | 0.55% | 0.55%†† | ||
Expenses (before waiver/reimbursement) (c) | 0.69%†† | 0.66% | 1.24%†† | ||
Portfolio turnover rate | 35% | 62% | 56% | ||
Net assets at end of period (in 000’s) | $ 32 | $ 33 | $ 61 |
* | Unaudited. |
^ | 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. |
Six months ended October 31, 2022* | Year Ended April 30, | June 30, 2020^ through April 30, | |||
Class R3 | 2022 | 2021 | |||
Net asset value at beginning of period | $ 10.21 | $ 11.12 | $ 10.00 | ||
Net investment income (loss) (a) | 0.10 | 0.14 | 0.07 | ||
Net realized and unrealized gain (loss) | (0.64) | (0.84) | 1.12 | ||
Total from investment operations | (0.54) | (0.70) | 1.19 | ||
Less distributions: | |||||
From net investment income | (0.09) | (0.14) | (0.06) | ||
From net realized gain on investments | — | (0.07) | (0.01) | ||
Total distributions | (0.09) | (0.21) | (0.07) | ||
Net asset value at end of period | $ 9.58 | $ 10.21 | $ 11.12 | ||
Total investment return (b) | (5.24)% | (6.42)% | 11.96% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 1.96%†† | 1.29% | 0.79%†† | ||
Net expenses (c) | 1.15%†† | 1.15% | 1.15%†† | ||
Expenses (before waiver/reimbursement) (c) | 1.29%†† | 1.26% | 1.84%†† | ||
Portfolio turnover rate | 35% | 62% | 56% | ||
Net assets at end of period (in 000’s) | $ 361 | $ 90 | $ 68 |
* | Unaudited. |
^ | 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. |
38 | MainStay Conservative ETF Allocation Fund |
Six months ended October 31, 2022* | Year Ended April 30, | August 31, 2020^ through April 30, | |||
SIMPLE Class | 2022 | 2021 | |||
Net asset value at beginning of period | $ 10.21 | $ 11.12 | $ 10.46 | ||
Net investment income (loss) (a) | 0.11 | 0.14 | 0.08 | ||
Net realized and unrealized gain (loss) | (0.64) | (0.82) | 0.66 | ||
Total from investment operations | (0.53) | (0.68) | 0.74 | ||
Less distributions: | |||||
From net investment income | (0.10) | (0.16) | (0.07) | ||
From net realized gain on investments | — | (0.07) | (0.01) | ||
Total distributions | (0.10) | (0.23) | (0.08) | ||
Net asset value at end of period | $ 9.58 | $ 10.21 | $ 11.12 | ||
Total investment return (b) | (5.18)% | (6.29)% | 7.13% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 2.20%†† | 1.30% | 0.92%†† | ||
Net expenses (c) | 1.05%†† | 1.05% | 1.05%†† | ||
Expenses (before waiver/reimbursement) (c) | 1.24%†† | 1.23% | 1.74%†† | ||
Portfolio turnover rate | 35% | 62% | 56% | ||
Net assets at end of period (in 000’s) | $ 1,468 | $ 1,077 | $ 195 |
* | Unaudited. |
^ | 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. |
Average Annual Total Returns for the Period-Ended October 31, 2022 | |||||||
Class | Sales Charge | Inception Date | Six Months1 | One Year | Since Inception | Gross Expense Ratio2 | |
Class A Shares | Maximum 3% Initial Sales Charge | With sales charges | 6/30/2020 | -8.35% | -17.18% | 1.44% | 0.81% |
Excluding sales charges | -5.52 | -14.62 | 2.77 | 0.81 | |||
Class C Shares | Maximum 1% CDSC | With sales charges | 6/30/2020 | -6.85 | -16.24 | 1.94 | 1.66 |
if redeemed Within One Year of Purchase | Excluding sales charges | -5.91 | -15.40 | 1.94 | 1.66 | ||
Class I Shares | No Sales Charge | 6/30/2020 | -5.42 | -14.41 | 3.05 | 0.56 | |
Class R3 Shares | No Sales Charge | 6/30/2020 | -5.71 | -14.95 | 2.43 | 1.16 | |
SIMPLE Class Shares | No Sales Charge | 8/31/2020 | -5.71 | -14.93 | -0.39 | 1.16 |
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. |
40 | MainStay Moderate ETF Allocation Fund |
Benchmark Performance* | Six Months1 | One Year | Since Inception |
S&P 500® Index2 | -5.50% | -14.61% | 11.68% |
MSCI EAFE® Index (Net)3 | -12.70 | -23.00 | 1.68 |
Bloomberg U.S. Aggregate Bond Index4 | -6.86 | -15.68 | -7.17 |
Moderate Allocation Composite Index5 | -6.94 | -16.04 | 2.62 |
Morningstar Allocation-50% to 70% Equity Category Average6 | -6.12 | -14.40 | 4.78 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
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. |
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. |
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. |
5. | 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. |
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. |
Share Class | Beginning Account Value 5/1/22 | Ending Account Value (Based on Actual Returns and Expenses) 10/31/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 10/31/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $944.80 | $3.43 | $1,021.68 | $3.57 | 0.70% |
Class C Shares | $1,000.00 | $940.90 | $7.44 | $1,017.54 | $7.73 | 1.52% |
Class I Shares | $1,000.00 | $945.80 | $2.26 | $1,022.89 | $2.35 | 0.46% |
Class R3 Shares | $1,000.00 | $942.90 | $5.14 | $1,019.91 | $5.35 | 1.05% |
SIMPLE Class Shares | $1,000.00 | $942.90 | $5.00 | $1,020.06 | $5.19 | 1.02% |
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 184 (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. |
42 | MainStay Moderate ETF Allocation Fund |
Equity Funds | 61.2 % |
Fixed Income Funds | 32.4 |
Short-Term Investments | 21.5 |
Other Assets, Less Liabilities | (15.1) |
• | Management of the stock/bond blend: The Fund’s management of its stock/bond blend proved generally successful, reflecting tactical adjustments made throughout the reporting period. With both investment-grade bonds and U.S. stocks posting declines in the mid-teens, there was little cost or benefit to being persistently overweight or underweight in equities, although adjusting that exposure over time (buying dips and selling rallies) added significant value. |
• | Value created within asset classes: The equity portion of the Fund emphasized value over growth, with specific focus on energy companies and defensive sectors that the market rewarded. |
• | Shorter duration:2 We shortened the average duration of the fixed-income portion of the Fund by holding cash and emphasizing exposure to iShares® 0-5 Year High Yield Corporate Bond ETF over its full duration counterpart, iShares® Broad USD High Yield Corporate Bond ETF. Both moves lifted relative returns. |
1. | See page 40 for other share class returns, which may be higher or lower than Class I share returns. See page 41 for more information on benchmark and peer group returns. |
2. | Duration is a measure of the price sensitivity of a fixed-income investment to changes in interest rates. Duration is expressed as a number of years and is considered a more accurate sensitivity gauge than average maturity. |
3. | The expression “excess return” may refer to the return that a security or portfolio provides above (or below) an investment with the lowest perceived risk, such as comparable U.S. Treasury securities. The expression may also refer to the return that a security or portfolio provides above (or below) an index or other benchmark. |
44 | MainStay Moderate ETF Allocation Fund |
46 | MainStay Moderate ETF Allocation Fund |
Shares | Value | |
Investment Companies 93.6% | ||
Equity Funds 61.2% | ||
Health Care Select Sector SPDR Fund (a) | 12,579 | $ 1,669,862 |
Invesco S&P 500 Low Volatility ETF | 34,331 | 2,119,596 |
iShares Core MSCI EAFE ETF | 141,077 | 7,860,811 |
iShares Core MSCI Emerging Markets ETF | 50,724 | 2,148,162 |
iShares Core S&P Small-Cap ETF | 48,510 | 4,750,099 |
iShares Semiconductor ETF (a) | 1,396 | 455,766 |
Schwab U.S. Mid-Cap ETF | 57,053 | 3,762,075 |
Schwab U.S. Small-Cap ETF | 113,455 | 4,746,957 |
SPDR S&P Oil & Gas Exploration & Production ETF (a) | 3,194 | 483,220 |
VanEck Gold Miners ETF | 36,601 | 884,280 |
VanEck Oil Services ETF (a) | 1,940 | 579,478 |
Vanguard Mega Cap ETF | 139,458 | 18,741,761 |
Vanguard Mega Cap Value ETF | 14,461 | 1,457,524 |
Vanguard Mid-Cap ETF | 32,279 | 6,584,593 |
Total Equity Funds (Cost $56,962,349) | 56,244,184 | |
Fixed Income Funds 32.4% | ||
Invesco Senior Loan ETF (a) | 212,705 | 4,407,247 |
iShares 0-5 Year High Yield Corporate Bond ETF (a) | 54,761 | 2,236,987 |
iShares 20+ Year Treasury Bond ETF | 8,843 | 849,901 |
iShares Broad USD High Yield Corporate Bond ETF (a) | 65,026 | 2,242,747 |
iShares Broad USD Investment Grade Corporate Bond ETF (a) | 72,893 | 3,458,044 |
iShares Core U.S. Aggregate Bond ETF | 99,261 | 9,419,869 |
Schwab U.S. Aggregate Bond ETF (a) | 160,124 | 7,155,941 |
Total Fixed Income Funds (Cost $33,690,119) | 29,770,736 | |
Total Investment Companies (Cost $90,652,468) | 86,014,920 | |
Short-Term Investments 21.5% | ||
Affiliated Investment Company 6.5% | ||
MainStay U.S. Government Liquidity Fund, 2.905% (b) | 5,940,951 | 5,940,951 |
Unaffiliated Investment Companies 15.0% | ||
Invesco Government & Agency Portfolio, 3.163% (b)(c) | 12,832,152 | 12,832,152 |
Shares | Value | ||
Short-Term Investments (continued) | |||
Unaffiliated Investment Companies (continued) | |||
State Street Institutional U.S. Government Money Market Fund, 3.064% (b)(c) | 1,000,000 | $ 1,000,000 | |
Total Unaffiliated Investment Companies (Cost $13,832,152) | 13,832,152 | ||
Total Short-Term Investments (Cost $19,773,103) | 19,773,103 | ||
Total Investments (Cost $110,425,571) | 115.1% | 105,788,023 | |
Other Assets, Less Liabilities | (15.1) | (13,861,743) | |
Net Assets | 100.0% | $ 91,926,280 |
† | Percentages indicated are based on Fund net assets. |
(a) | All or a portion of this security was held on loan. As of October 31, 2022, the aggregate market value of securities on loan was $13,483,740; the total market value of collateral held by the Fund was $13,837,621. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $5,469. The Fund received cash collateral with a value of $13,832,152. (See Note 2(G)) |
(b) | Current yield as of October 31, 2022. |
(c) | Represents a security purchased with cash collateral received for securities on loan. |
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 |
MainStay U.S. Government Liquidity Fund | $ 2,260 | $ 19,736 | $ (16,055) | $ — | $ — | $ 5,941 | $ 28 | $ — | 5,941 |
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 |
48 | 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 | $ 56,244,184 | $ — | $ — | $ 56,244,184 | |||
Fixed Income Funds | 29,770,736 | — | — | 29,770,736 | |||
Total Investment Companies | 86,014,920 | — | — | 86,014,920 | |||
Short-Term Investments | |||||||
Affiliated Investment Company | 5,940,951 | — | — | 5,940,951 | |||
Unaffiliated Investment Companies | 13,832,152 | — | — | 13,832,152 | |||
Total Short-Term Investments | 19,773,103 | — | — | 19,773,103 | |||
Total Investments in Securities | $ 105,788,023 | $ — | $ — | $ 105,788,023 |
(a) | For a complete listing of investments, see the Portfolio of Investments. |
Assets | |
Investment in unaffiliated securities, at value (identified cost $104,484,620) including securities on loan of $13,483,740 | $ 99,847,072 |
Investment in affiliated investment companies, at value (identified cost $5,940,951) | 5,940,951 |
Cash | 833 |
Due from custodian | 59,662 |
Receivables: | |
Fund shares sold | 94,585 |
Investment securities sold | 33,898 |
Securities lending | 32,419 |
Dividends | 10,420 |
Other assets | 55,673 |
Total assets | 106,075,513 |
Liabilities | |
Cash collateral received for securities on loan | 13,832,152 |
Payables: | |
Fund shares redeemed | 186,690 |
Investment securities purchased | 59,662 |
NYLIFE Distributors (See Note 3) | 20,469 |
Professional fees | 16,515 |
Manager (See Note 3) | 15,159 |
Transfer agent (See Note 3) | 7,890 |
Custodian | 4,457 |
Shareholder communication | 2,774 |
Accrued expenses | 3,465 |
Total liabilities | 14,149,233 |
Net assets | $ 91,926,280 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $ 8,803 |
Additional paid-in-capital | 99,682,351 |
99,691,154 | |
Total distributable earnings (loss) | (7,764,874) |
Net assets | $ 91,926,280 |
Class A | |
Net assets applicable to outstanding shares | $85,414,414 |
Shares of beneficial interest outstanding | 8,176,661 |
Net asset value per share outstanding | $ 10.45 |
Maximum sales charge (3.00% of offering price) | 0.32 |
Maximum offering price per share outstanding | $ 10.77 |
Class C | |
Net assets applicable to outstanding shares | $ 340,312 |
Shares of beneficial interest outstanding | 32,875 |
Net asset value and offering price per share outstanding | $ 10.35 |
Class I | |
Net assets applicable to outstanding shares | $ 69,121 |
Shares of beneficial interest outstanding | 6,603 |
Net asset value and offering price per share outstanding | $ 10.47 |
Class R3 | |
Net assets applicable to outstanding shares | $ 1,264,635 |
Shares of beneficial interest outstanding | 121,465 |
Net asset value and offering price per share outstanding | $ 10.41 |
SIMPLE Class | |
Net assets applicable to outstanding shares | $ 4,837,798 |
Shares of beneficial interest outstanding | 464,984 |
Net asset value and offering price per share outstanding | $ 10.40 |
50 | MainStay Moderate ETF Allocation Fund |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated | $ 1,163,741 |
Securities lending, net | 145,814 |
Dividends-affiliated | 28,235 |
Total income | 1,337,790 |
Expenses | |
Distribution/Service—Class A (See Note 3) | 107,042 |
Distribution/Service—Class C (See Note 3) | 1,800 |
Distribution/Service—Class R3 (See Note 3) | 2,562 |
Distribution/Service—SIMPLE Class (See Note 3) | 9,880 |
Manager (See Note 3) | 91,041 |
Registration | 44,000 |
Transfer agent (See Note 3) | 37,036 |
Professional fees | 18,056 |
Custodian | 10,415 |
Shareholder communication | 4,058 |
Trustees | 1,003 |
Shareholder service (See Note 3) | 512 |
Miscellaneous | 2,686 |
Total expenses | 330,091 |
Net investment income (loss) | 1,007,699 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on unaffiliated investments | (3,474,080) |
Net change in unrealized appreciation (depreciation) on unaffiliated investments | (2,701,062) |
Net realized and unrealized gain (loss) | (6,175,142) |
Net increase (decrease) in net assets resulting from operations | $(5,167,443) |
for the six months ended October 31, 2022 (Unaudited) and the year ended April 30, 2022
Six months ended October 31, 2022 | Year ended April 30, 2022 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $ 1,007,699 | $ 1,203,799 |
Net realized gain (loss) | (3,474,080) | (597,640) |
Net change in unrealized appreciation (depreciation) | (2,701,062) | (6,742,990) |
Net increase (decrease) in net assets resulting from operations | (5,167,443) | (6,136,831) |
Distributions to shareholders: | ||
Class A | — | (1,190,376) |
Class C | — | (3,546) |
Class I | — | (1,128) |
Class R3 | — | (9,056) |
SIMPLE Class | — | (22,031) |
Total distributions to shareholders | — | (1,226,137) |
Capital share transactions: | ||
Net proceeds from sales of shares | 12,305,972 | 54,296,195 |
Net asset value of shares issued to shareholders in reinvestment of distributions | — | 1,224,058 |
Cost of shares redeemed | (5,823,117) | (13,327,228) |
Increase (decrease) in net assets derived from capital share transactions | 6,482,855 | 42,193,025 |
Net increase (decrease) in net assets | 1,315,412 | 34,830,057 |
Net Assets | ||
Beginning of period | 90,610,868 | 55,780,811 |
End of period | $91,926,280 | $ 90,610,868 |
52 | MainStay Moderate ETF Allocation Fund |
Six months ended October 31, 2022* | Year Ended April 30, | June 30, 2020^ through April 30, | |||
Class A | 2022 | 2021 | |||
Net asset value at beginning of period | $ 11.06 | $ 11.88 | $ 10.00 | ||
Net investment income (loss) (a) | 0.12 | 0.18 | 0.10 | ||
Net realized and unrealized gain (loss) | (0.73) | (0.83) | 1.85 | ||
Total from investment operations | (0.61) | (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 period | $ 10.45 | $ 11.06 | $ 11.88 | ||
Total investment return (b) | (5.52)% | (5.60)% | 19.50% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 2.24%†† | 1.53% | 1.02%†† | ||
Net expenses (c) | 0.70%†† | 0.70% | 0.80%†† | ||
Expenses (before waiver/reimbursement) (c) | 0.70%†† | 0.70% | 1.04%†† | ||
Portfolio turnover rate | 33% | 58% | 45% | ||
Net assets at end of period (in 000’s) | $ 85,414 | $ 86,128 | $ 54,345 |
* | Unaudited. |
^ | 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. |
Six months ended October 31, 2022* | Year Ended April 30, | June 30, 2020^ through April 30, | |||
Class C | 2022 | 2021 | |||
Net asset value at beginning of period | $ 11.00 | $ 11.83 | $ 10.00 | ||
Net investment income (loss) (a) | 0.08 | 0.08 | 0.03 | ||
Net realized and unrealized gain (loss) | (0.73) | (0.83) | 1.85 | ||
Total from investment operations | (0.65) | (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 period | $ 10.35 | $ 11.00 | $ 11.83 | ||
Total investment return (b) | (5.91)% | (6.44)% | 18.82% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 1.45%†† | 0.70% | 0.29%†† | ||
Net expenses (c) | 1.52%†† | 1.54% | 1.55%†† | ||
Expenses (before waiver/reimbursement) (c) | 1.52%†† | 1.54% | 1.77%†† | ||
Portfolio turnover rate | 33% | 58% | 45% | ||
Net assets at end of period (in 000’s) | $ 340 | $ 389 | $ 506 |
* | Unaudited. |
^ | 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. |
54 | MainStay Moderate ETF Allocation Fund |
Six months ended October 31, 2022* | Year Ended April 30, | June 30, 2020^ through April 30, | |||
Class I | 2022 | 2021 | |||
Net asset value at beginning of period | $ 11.07 | $ 11.87 | $ 10.00 | ||
Net investment income (loss) (a) | 0.13 | 0.22 | 0.13 | ||
Net realized and unrealized gain (loss) | (0.73) | (0.83) | 1.84 | ||
Total from investment operations | (0.60) | (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 period | $ 10.47 | $ 11.07 | $ 11.87 | ||
Total investment return (b) | (5.42)% | (5.31)% | 19.79% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 2.49%†† | 1.83% | 1.40%†† | ||
Net expenses (c) | 0.46%†† | 0.45% | 0.55%†† | ||
Expenses (before waiver/reimbursement) (c) | 0.46%†† | 0.45% | 0.79%†† | ||
Portfolio turnover rate | 33% | 58% | 45% | ||
Net assets at end of period (in 000’s) | $ 69 | $ 73 | $ 52 |
* | Unaudited. |
^ | 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. |
Six months ended October 31, 2022* | Year Ended April 30, | June 30, 2020^ through April 30, | |||
Class R3 | 2022 | 2021 | |||
Net asset value at beginning of period | $ 11.04 | $ 11.86 | $ 10.00 | ||
Net investment income (loss) (a) | 0.10 | 0.15 | 0.07 | ||
Net realized and unrealized gain (loss) | (0.73) | (0.84) | 1.85 | ||
Total from investment operations | (0.63) | (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 period | $ 10.41 | $ 11.04 | $ 11.86 | ||
Total investment return (b) | (5.71)% | (5.92)% | 19.22% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 1.86%†† | 1.22% | 0.76%†† | ||
Net expenses (c) | 1.05%†† | 1.05% | 1.15%†† | ||
Expenses (before waiver/reimbursement) (c) | 1.05%†† | 1.05% | 1.39%†† | ||
Portfolio turnover rate | 33% | 58% | 45% | ||
Net assets at end of period (in 000’s) | $ 1,265 | $ 854 | $ 403 |
* | Unaudited. |
^ | 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. |
56 | MainStay Moderate ETF Allocation Fund |
Six months ended October 31, 2022* | Year Ended April 30, | August 31, 2020^ through April 30, | |||
SIMPLE Class | 2022 | 2021 | |||
Net asset value at beginning of period | $ 11.03 | $ 11.85 | $ 10.66 | ||
Net investment income (loss) (a) | 0.10 | 0.13 | 0.06 | ||
Net realized and unrealized gain (loss) | (0.73) | (0.81) | 1.19 | ||
Total from investment operations | (0.63) | (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 period | $ 10.40 | $ 11.03 | $ 11.85 | ||
Total investment return (b) | (5.71)% | (5.89)% | 11.75% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 1.86%†† | 1.07% | 0.62%†† | ||
Net expenses (c) | 1.02%†† | 1.05% | 1.05%†† | ||
Expenses (before waiver/reimbursement) (c) | 1.02%†† | 1.05% | 1.27%†† | ||
Portfolio turnover rate | 33% | 58% | 45% | ||
Net assets at end of period (in 000’s) | $ 4,838 | $ 3,167 | $ 475 |
* | Unaudited. |
^ | 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. |
Average Annual Total Returns for the Period-Ended October 31, 2022 | |||||||
Class | Sales Charge | Inception Date | Six Months1 | One Year | Since Inception | Gross Expense Ratio2 | |
Class A Shares | Maximum 3% Initial Sales Charge | With sales charges | 6/30/2020 | -8.45% | -18.08% | 4.57% | 0.96% |
Excluding sales charges | -5.62 | -15.54 | 5.94 | 0.96 | |||
Class C Shares | Maximum 1% CDSC | With sales charges | 6/30/2020 | -6.84 | -16.91 | 5.16 | 1.75 |
if redeemed Within One Year of Purchase | Excluding sales charges | -5.90 | -16.08 | 5.16 | 1.75 | ||
Class I Shares | No Sales Charge | 6/30/2020 | -5.47 | -15.29 | 6.23 | 0.71 | |
Class R3 Shares | No Sales Charge | 6/30/2020 | -5.71 | -15.74 | 5.60 | 1.31 | |
SIMPLE Class Shares | No Sales Charge | 8/31/2020 | -5.71 | -15.71 | 2.17 | 1.25 |
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. |
58 | MainStay Growth ETF Allocation Fund |
Benchmark Performance* | Six Months1 | One Year | Since Inception |
S&P 500® Index2 | -5.50% | -14.61% | 11.68% |
MSCI EAFE® Index (Net)3 | -12.70 | -23.00 | 1.68 |
Bloomberg U.S. Aggregate Bond Index4 | -6.86 | -15.68 | -7.17 |
Growth Allocation Composite Index5 | -7.10 | -16.35 | 5.89 |
Morningstar Allocation-70% to 85% Equity Category Average6 | -6.29 | -15.93 | 6.20 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
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. |
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. |
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. |
5. | 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 and the Bloomberg U.S. Aggregate Bond Index weighted 60%, 20% and 20%, respectively. |
6. | 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. |
Share Class | Beginning Account Value 5/1/22 | Ending Account Value (Based on Actual Returns and Expenses) 10/31/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 10/31/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $943.80 | $3.92 | $1,021.17 | $4.08 | 0.80% |
Class C Shares | $1,000.00 | $941.00 | $7.58 | $1,017.39 | $7.88 | 1.55% |
Class I Shares | $1,000.00 | $945.30 | $2.70 | $1,022.43 | $2.80 | 0.55% |
Class R3 Shares | $1,000.00 | $942.90 | $5.63 | $1,019.41 | $5.85 | 1.15% |
SIMPLE Class Shares | $1,000.00 | $942.90 | $5.14 | $1,019.91 | $5.35 | 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 184 (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. |
60 | MainStay Growth ETF Allocation Fund |
Equity Funds | 81.0 % |
Fixed Income Funds | 13.2 |
Short-Term Investments | 18.8 |
Other Assets, Less Liabilities | (13.0) |
• | Management of the stock/bond blend: The Fund’s management of its stock/bond blend proved generally successful, reflecting tactical adjustments made throughout the reporting period. With both investment-grade bonds and U.S. stocks posting declines in the mid-teens, there was little cost or benefit to being persistently overweight or underweight in equities, although adjusting that exposure over time (buying dips and selling rallies) added significant value. |
• | Value created within asset classes: The equity portion of the Fund emphasized value over growth, with specific focus on energy companies and defensive sectors that the market rewarded. |
• | Shorter duration:2 We shortened the average duration of the fixed-income portion of the Fund by holding cash and emphasizing exposure to iShares® 0-5 Year High Yield Corporate Bond ETF over its full duration counterpart, iShares® Broad USD High Yield Corporate Bond ETF. Both moves lifted relative returns. |
1. | See page 58 for other share class returns, which may be higher or lower than Class I share returns. See page 59 for more information on benchmark and peer group returns. |
2. | Duration is a measure of the price sensitivity of a fixed-income investment to changes in interest rates. Duration is expressed as a number of years and is considered a more accurate sensitivity gauge than average maturity. |
3. | The expression “excess return” may refer to the return that a security or portfolio provides above (or below) an investment with the lowest perceived risk, such as comparable U.S. Treasury securities. The expression may also refer to the return that a security or portfolio provides above (or below) an index or other benchmark. |
62 | MainStay Growth ETF Allocation Fund |
64 | MainStay Growth ETF Allocation Fund |
Shares | Value | ||
Investment Companies 94.2% | |||
Equity Funds 81.0% | |||
Health Care Select Sector SPDR Fund (a) | 8,368 | $ 1,110,852 | |
Invesco S&P 500 Low Volatility ETF | 22,861 | 1,411,438 | |
iShares Core MSCI EAFE ETF | 138,582 | 7,721,789 | |
iShares Core MSCI Emerging Markets ETF | 50,182 | 2,125,208 | |
iShares Core S&P Small-Cap ETF (a) | 32,629 | 3,195,032 | |
iShares Semiconductor ETF (a) | 924 | 301,667 | |
Schwab U.S. Mid-Cap ETF (a) | 55,940 | 3,688,684 | |
Schwab U.S. Small-Cap ETF | 152,018 | 6,360,433 | |
SPDR S&P Oil & Gas Exploration & Production ETF (a) | 2,099 | 317,558 | |
VanEck Gold Miners ETF | 24,229 | 585,373 | |
VanEck Oil Services ETF (a) | 1,275 | 380,842 | |
Vanguard Mega Cap ETF | 118,045 | 15,864,067 | |
Vanguard Mega Cap Value ETF (a) | 9,573 | 964,863 | |
Vanguard Mid-Cap ETF (a) | 31,505 | 6,426,705 | |
Total Equity Funds (Cost $52,122,170) | 50,454,511 | ||
Fixed Income Funds 13.2% | |||
Invesco Senior Loan ETF (a) | 145,632 | 3,017,495 | |
iShares 0-5 Year High Yield Corporate Bond ETF (a) | 32,910 | 1,344,373 | |
iShares 20+ Year Treasury Bond ETF | 6,703 | 644,225 | |
iShares Broad USD High Yield Corporate Bond ETF (a) | 43,440 | 1,498,246 | |
iShares Core U.S. Aggregate Bond ETF | 18,463 | 1,752,139 | |
Total Fixed Income Funds (Cost $8,776,516) | 8,256,478 | ||
Total Investment Companies (Cost $60,898,686) | 58,710,989 | ||
Short-Term Investments 18.8% | |||
Affiliated Investment Company 5.9% | |||
MainStay U.S. Government Liquidity Fund, 2.905% (b) | 3,656,336 | 3,656,336 | |
Unaffiliated Investment Companies 12.9% | |||
Invesco Government & Agency Portfolio, 3.163% (b)(c) | 5,051,832 | 5,051,832 | |
State Street Institutional U.S. Government Money Market Fund, 3.064% (b)(c) | 3,000,000 | 3,000,000 | |
Total Unaffiliated Investment Companies (Cost $8,051,832) | 8,051,832 | ||
Total Short-Term Investments (Cost $11,708,168) | 11,708,168 | ||
Total Investments (Cost $72,606,854) | 113.0% | 70,419,157 | |
Other Assets, Less Liabilities | (13.0) | (8,102,329) | |
Net Assets | 100.0% | $ 62,316,828 |
† | Percentages indicated are based on Fund net assets. |
(a) | All or a portion of this security was held on loan. As of October 31, 2022, the aggregate market value of securities on loan was $8,218,201; the total market value of collateral held by the Fund was $8,478,193. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $426,361. The Fund received cash collateral with a value of $8,051,832. (See Note 2(G)) |
(b) | Current yield as of October 31, 2022. |
(c) | Represents a security purchased with cash collateral received for securities on loan. |
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 |
MainStay U.S. Government Liquidity Fund | $ 1,514 | $ 14,070 | $ (11,928) | $ — | $ — | $ 3,656 | $ 19 | $ — | 3,656 |
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 | $ 50,454,511 | $ — | $ — | $ 50,454,511 | |||
Fixed Income Funds | 8,256,478 | — | — | 8,256,478 | |||
Total Investment Companies | 58,710,989 | — | — | 58,710,989 | |||
Short-Term Investments | |||||||
Affiliated Investment Company | 3,656,336 | — | — | 3,656,336 | |||
Unaffiliated Investment Companies | 8,051,832 | — | — | 8,051,832 | |||
Total Short-Term Investments | 11,708,168 | — | — | 11,708,168 | |||
Total Investments in Securities | $ 70,419,157 | $ — | $ — | $ 70,419,157 |
(a) | For a complete listing of investments, see the Portfolio of Investments. |
66 | MainStay Growth ETF Allocation Fund |
Assets | |
Investment in unaffiliated securities, at value (identified cost $68,950,518) including securities on loan of $8,218,201 | $66,762,821 |
Investment in affiliated investment companies, at value (identified cost $3,656,336) | 3,656,336 |
Cash | 311 |
Receivables: | |
Fund shares sold | 102,159 |
Securities lending | 23,878 |
Dividends | 6,665 |
Other assets | 57,034 |
Total assets | 70,609,204 |
Liabilities | |
Cash collateral received for securities on loan | 8,051,832 |
Payables: | |
Fund shares redeemed | 113,849 |
Investment securities purchased | 70,822 |
Professional fees | 16,243 |
NYLIFE Distributors (See Note 3) | 14,166 |
Manager (See Note 3) | 7,922 |
Transfer agent (See Note 3) | 7,845 |
Custodian | 4,080 |
Shareholder communication | 3,093 |
Accrued expenses | 2,524 |
Total liabilities | 8,292,376 |
Net assets | $62,316,828 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $ 5,539 |
Additional paid-in-capital | 66,462,752 |
66,468,291 | |
Total distributable earnings (loss) | (4,151,463) |
Net assets | $62,316,828 |
Class A | |
Net assets applicable to outstanding shares | $55,375,207 |
Shares of beneficial interest outstanding | 4,920,356 |
Net asset value per share outstanding | $ 11.25 |
Maximum sales charge (3.00% of offering price) | 0.35 |
Maximum offering price per share outstanding | $ 11.60 |
Class C | |
Net assets applicable to outstanding shares | $ 306,550 |
Shares of beneficial interest outstanding | 27,476 |
Net asset value and offering price per share outstanding | $ 11.16 |
Class I | |
Net assets applicable to outstanding shares | $ 72,627 |
Shares of beneficial interest outstanding | 6,463 |
Net asset value and offering price per share outstanding | $ 11.24 |
Class R3 | |
Net assets applicable to outstanding shares | $ 528,822 |
Shares of beneficial interest outstanding | 47,150 |
Net asset value and offering price per share outstanding | $ 11.22 |
SIMPLE Class | |
Net assets applicable to outstanding shares | $ 6,033,622 |
Shares of beneficial interest outstanding | 537,171 |
Net asset value and offering price per share outstanding | $ 11.23 |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated | $ 719,113 |
Securities lending, net | 98,850 |
Dividends-affiliated | 18,674 |
Total income | 836,637 |
Expenses | |
Distribution/Service—Class A (See Note 3) | 66,800 |
Distribution/Service—Class C (See Note 3) | 1,535 |
Distribution/Service—Class R3 (See Note 3) | 1,233 |
Distribution/Service—SIMPLE Class (See Note 3) | 12,088 |
Manager (See Note 3) | 59,133 |
Registration | 42,198 |
Transfer agent (See Note 3) | 33,689 |
Professional fees | 17,252 |
Custodian | 10,164 |
Shareholder communication | 3,269 |
Trustees | 631 |
Shareholder service (See Note 3) | 247 |
Miscellaneous | 2,897 |
Total expenses before waiver/reimbursement | 251,136 |
Expense waiver/reimbursement from Manager (See Note 3) | (6,616) |
Net expenses | 244,520 |
Net investment income (loss) | 592,117 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on unaffiliated investments | (2,266,590) |
Net change in unrealized appreciation (depreciation) on unaffiliated investments | (1,646,695) |
Net realized and unrealized gain (loss) | (3,913,285) |
Net increase (decrease) in net assets resulting from operations | $(3,321,168) |
68 | MainStay Growth ETF Allocation Fund |
for the six months ended October 31, 2022 (Unaudited) and the year ended April 30, 2022
Six months ended October 31, 2022 | Year ended April 30, 2022 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $ 592,117 | $ 656,387 |
Net realized gain (loss) | (2,266,590) | (352,275) |
Net change in unrealized appreciation (depreciation) | (1,646,695) | (4,308,393) |
Net increase (decrease) in net assets resulting from operations | (3,321,168) | (4,004,281) |
Distributions to shareholders: | ||
Class A | — | (591,463) |
Class C | — | (1,516) |
Class I | — | (635) |
Class R3 | — | (2,146) |
SIMPLE Class | — | (28,130) |
Total distributions to shareholders | — | (623,890) |
Capital share transactions: | ||
Net proceeds from sales of shares | 12,342,618 | 36,077,108 |
Net asset value of shares issued to shareholders in reinvestment of distributions | — | 623,525 |
Cost of shares redeemed | (3,854,624) | (6,073,472) |
Increase (decrease) in net assets derived from capital share transactions | 8,487,994 | 30,627,161 |
Net increase (decrease) in net assets | 5,166,826 | 25,998,990 |
Net Assets | ||
Beginning of period | 57,150,002 | 31,151,012 |
End of period | $62,316,828 | $57,150,002 |
Six months ended October 31, 2022* | Year Ended April 30, | June 30, 2020^ through April 30, | |||
Class A | 2022 | 2021 | |||
Net asset value at beginning of period | $ 11.92 | $ 12.79 | $ 10.00 | ||
Net investment income (loss) (a) | 0.12 | 0.18 | 0.09 | ||
Net realized and unrealized gain (loss) | (0.79) | (0.89) | 2.76 | ||
Total from investment operations | (0.67) | (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 period | $ 11.25 | $ 11.92 | $ 12.79 | ||
Total investment return (b) | (5.62)% | (5.69)% | 28.56% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 2.03%†† | 1.41% | 0.90%†† | ||
Net expenses (c) | 0.80%†† | 0.80% | 0.80%†† | ||
Expenses (before waiver/reimbursement) (c) | 0.82%†† | 0.85% | 1.41%†† | ||
Portfolio turnover rate | 29% | 54% | 47% | ||
Net assets at end of period (in 000’s) | $ 55,375 | $ 52,475 | $ 29,705 |
* | Unaudited. |
^ | 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. |
70 | MainStay Growth ETF Allocation Fund |
Six months ended October 31, 2022* | Year Ended April 30, | June 30, 2020^ through April 30, | |||
Class C | 2022 | 2021 | |||
Net asset value at beginning of period | $ 11.86 | $ 12.73 | $ 10.00 | ||
Net investment income (loss) (a) | 0.07 | 0.09 | 0.03 | ||
Net realized and unrealized gain (loss) | (0.77) | (0.90) | 2.74 | ||
Total from investment operations | (0.70) | (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 period | $ 11.16 | $ 11.86 | $ 12.73 | ||
Total investment return (b) | (5.90)% | (6.40)% | 27.72% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 1.29%†† | 0.67% | 0.28%†† | ||
Net expenses (c) | 1.55%†† | 1.55% | 1.55%†† | ||
Expenses (before waiver/reimbursement) (c) | 1.60%†† | 1.64% | 2.12%†† | ||
Portfolio turnover rate | 29% | 54% | 47% | ||
Net assets at end of period (in 000’s) | $ 307 | $ 310 | $ 288 |
* | Unaudited. |
^ | 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. |
Six months ended October 31, 2022* | Year Ended April 30, | June 30, 2020^ through April 30, | |||
Class I | 2022 | 2021 | |||
Net asset value at beginning of period | $ 11.89 | $ 12.75 | $ 10.00 | ||
Net investment income (loss) (a) | 0.12 | 0.22 | 0.12 | ||
Net realized and unrealized gain (loss) | (0.77) | (0.89) | 2.75 | ||
Total from investment operations | (0.65) | (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 period | $ 11.24 | $ 11.89 | $ 12.75 | ||
Total investment return (b) | (5.47)% | (5.41)% | 28.79% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 2.07%†† | 1.70% | 1.23%†† | ||
Net expenses (c) | 0.55%†† | 0.55% | 0.55%†† | ||
Expenses (before waiver/reimbursement) (c) | 0.57%†† | 0.60% | 1.16%†† | ||
Portfolio turnover rate | 29% | 54% | 47% | ||
Net assets at end of period (in 000’s) | $ 73 | $ 40 | $ 40 |
* | Unaudited. |
^ | 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. |
72 | MainStay Growth ETF Allocation Fund |
Six months ended October 31, 2022* | Year Ended April 30, | June 30, 2020^ through April 30, | |||
Class R3 | 2022 | 2021 | |||
Net asset value at beginning of period | $ 11.90 | $ 12.77 | $ 10.00 | ||
Net investment income (loss) (a) | 0.10 | 0.11 | 0.05 | ||
Net realized and unrealized gain (loss) | (0.78) | (0.87) | 2.76 | ||
Total from investment operations | (0.68) | (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 period | $ 11.22 | $ 11.90 | $ 12.77 | ||
Total investment return (b) | (5.71)% | (6.01)% | 28.16% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 1.68%†† | 0.83% | 0.48%†† | ||
Net expenses (c) | 1.15%†† | 1.15% | 1.15%†† | ||
Expenses (before waiver/reimbursement) (c) | 1.17%†† | 1.20% | 1.76%†† | ||
Portfolio turnover rate | 29% | 54% | 47% | ||
Net assets at end of period (in 000’s) | $ 529 | $ 486 | $ 158 |
* | Unaudited. |
^ | 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. |
Six months ended October 31, 2022* | Year Ended April 30, | August 31, 2020^ through April 30, | |||
SIMPLE Class | 2022 | 2021 | |||
Net asset value at beginning of period | $ 11.91 | $ 12.78 | $ 10.86 | ||
Net investment income (loss) (a) | 0.10 | 0.14 | 0.07 | ||
Net realized and unrealized gain (loss) | (0.78) | (0.89) | 1.90 | ||
Total from investment operations | (0.68) | (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 period | $ 11.23 | $ 11.91 | $ 12.78 | ||
Total investment return (b) | (5.71)% | (5.92)% | 18.11% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 1.72%†† | 1.11% | 0.71%†† | ||
Net expenses (c) | 1.05%†† | 1.05% | 1.05%†† | ||
Expenses (before waiver/reimbursement) (c) | 1.10%†† | 1.14% | 1.62%†† | ||
Portfolio turnover rate | 29% | 54% | 47% | ||
Net assets at end of period (in 000’s) | $ 6,034 | $ 3,838 | $ 962 |
* | Unaudited. |
^ | 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. |
74 | MainStay Growth ETF Allocation Fund |
Average Annual Total Returns for the Period-Ended October 31, 2022 | |||||||
Class | Sales Charge | Inception Date | Six Months1 | One Year | Since Inception | Gross Expense Ratio2 | |
Class A Shares | Maximum 3% Initial Sales Charge | With sales charges | 6/30/2020 | -9.57% | -21.02% | 6.15% | 0.99% |
Excluding sales charges | -6.78 | -18.57 | 7.55 | 0.99 | |||
Class C Shares | Maximum 1% CDSC | With sales charges | 6/30/2020 | -8.07 | -20.01 | 6.71 | 1.82 |
if redeemed Within One Year of Purchase | Excluding sales charges | -7.14 | -19.20 | 6.71 | 1.82 | ||
Class I Shares | No Sales Charge | 6/30/2020 | -6.74 | -18.40 | 7.78 | 0.71 | |
Class R3 Shares | No Sales Charge | 6/30/2020 | -7.03 | -18.87 | 7.15 | 1.34 | |
SIMPLE Class Shares | No Sales Charge | 8/31/2020 | -6.95 | -18.78 | 2.85 | 1.32 |
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* | Six Months1 | One Year | Since Inception |
S&P 500® Index2 | -5.50% | -14.61% | 11.68% |
MSCI EAFE® Index (Net)3 | -12.70 | -23.00 | 1.68 |
Equity Allocation Composite Index4 | -7.33 | -16.75 | 9.15 |
Morningstar Allocation-85%+ Equity Category Average5 | -7.37 | -20.09 | 6.72 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
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. |
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. |
4. | 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 weighted 75% and 25%, respectively. |
5. | 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. |
76 | MainStay Equity ETF Allocation Fund |
Share Class | Beginning Account Value 5/1/22 | Ending Account Value (Based on Actual Returns and Expenses) 10/31/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 10/31/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $932.20 | $3.90 | $1,021.17 | $4.08 | 0.80% |
Class C Shares | $1,000.00 | $928.60 | $7.53 | $1,017.39 | $7.88 | 1.55% |
Class I Shares | $1,000.00 | $932.60 | $2.68 | $1,022.43 | $2.80 | 0.55% |
Class R3 Shares | $1,000.00 | $929.70 | $5.59 | $1,019.41 | $5.85 | 1.15% |
SIMPLE Class Shares | $1,000.00 | $930.50 | $5.11 | $1,019.91 | $5.35 | 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 184 (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. |
Equity Funds | 99.7 % |
Short-Term Investments | 3.7 |
Other Assets, Less Liabilities | (3.4) |
78 | MainStay Equity ETF Allocation Fund |
1. | See page 75 for other share class returns, which may be higher or lower than Class I share returns. See page 76 for more information on benchmark and peer group returns. |
80 | MainStay Equity ETF Allocation Fund |
Shares | Value | ||
Investment Companies 99.7% | |||
Equity Funds 99.7% | |||
Health Care Select Sector SPDR Fund (a) | 6,088 | $ 808,182 | |
Invesco S&P 500 Low Volatility ETF | 16,652 | 1,028,094 | |
iShares Core MSCI EAFE ETF | 130,109 | 7,249,674 | |
iShares Core MSCI Emerging Markets ETF | 52,867 | 2,238,917 | |
iShares Core S&P Small-Cap ETF (a) | 14,218 | 1,392,227 | |
iShares Semiconductor ETF (a) | 673 | 219,721 | |
Schwab U.S. Mid-Cap ETF | 40,756 | 2,687,451 | |
Schwab U.S. Small-Cap ETF (a) | 166,487 | 6,965,816 | |
SPDR S&P Oil & Gas Exploration & Production ETF | 1,524 | 230,566 | |
VanEck Gold Miners ETF | 4,412 | 106,594 | |
VanEck Oil Services ETF (a) | 926 | 276,596 | |
Vanguard Mega Cap ETF | 127,152 | 17,087,957 | |
Vanguard Mega Cap Value ETF | 6,973 | 702,809 | |
Vanguard Mid-Cap ETF (a) | 22,965 | 4,684,630 | |
Total Investment Companies (Cost $48,794,304) | 45,679,234 | ||
Short-Term Investments 3.7% | |||
Affiliated Investment Company 0.5% | |||
MainStay U.S. Government Liquidity Fund, 2.905% (b) | 240,765 | 240,765 | |
Unaffiliated Investment Company 3.2% | |||
Invesco Government & Agency Portfolio, 3.163% (b)(c) | 1,477,220 | 1,477,220 | |
Total Short-Term Investments (Cost $1,717,985) | 1,717,985 | ||
Total Investments (Cost $50,512,289) | 103.4% | 47,397,219 | |
Other Assets, Less Liabilities | (3.4) | (1,568,672) | |
Net Assets | 100.0% | $ 45,828,547 |
† | Percentages indicated are based on Fund net assets. |
(a) | All or a portion of this security was held on loan. As of October 31, 2022, the aggregate market value of securities on loan was $2,498,501; the total market value of collateral held by the Fund was $2,616,027. The market value of the collateral held included non-cash collateral in the form of U.S. Treasury securities with a value of $1,138,807. The Fund received cash collateral with a value of $1,477,220. (See Note 2(G)) |
(b) | Current yield as of October 31, 2022. |
(c) | Represents a security purchased with cash collateral received for securities on loan. |
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 |
MainStay U.S. Government Liquidity Fund | $ 342 | $ 4,124 | $ (4,225) | $ — | $ — | $ 241 | $ 2 | $ — | 241 |
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 | $ 45,679,234 | $ — | $ — | $ 45,679,234 | |||
Short-Term Investments | |||||||
Affiliated Investment Company | 240,765 | — | — | 240,765 | |||
Unaffiliated Investment Company | 1,477,220 | — | — | 1,477,220 | |||
Total Short-Term Investments | 1,717,985 | — | — | 1,717,985 | |||
Total Investments in Securities | $ 47,397,219 | $ — | $ — | $ 47,397,219 |
(a) | For a complete listing of investments, see the Portfolio of Investments. |
82 | MainStay Equity ETF Allocation Fund |
Assets | |
Investment in unaffiliated securities, at value (identified cost $50,271,524) including securities on loan of $2,498,501 | $47,156,454 |
Investment in affiliated investment companies, at value (identified cost $240,765) | 240,765 |
Cash | 2,405 |
Receivables: | |
Fund shares sold | 52,938 |
Securities lending | 2,402 |
Dividends | 568 |
Other assets | 61,766 |
Total assets | 47,517,298 |
Liabilities | |
Cash collateral received for securities on loan | 1,477,220 |
Payables: | |
Fund shares redeemed | 112,959 |
Investment securities purchased | 56,832 |
Professional fees | 16,069 |
NYLIFE Distributors (See Note 3) | 10,349 |
Transfer agent (See Note 3) | 5,165 |
Custodian | 3,915 |
Shareholder communication | 3,355 |
Manager (See Note 3) | 1,051 |
Accrued expenses | 1,836 |
Total liabilities | 1,688,751 |
Net assets | $45,828,547 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $ 3,923 |
Additional paid-in-capital | 50,017,851 |
50,021,774 | |
Total distributable earnings (loss) | (4,193,227) |
Net assets | $45,828,547 |
Class A | |
Net assets applicable to outstanding shares | $40,483,788 |
Shares of beneficial interest outstanding | 3,463,936 |
Net asset value per share outstanding | $ 11.69 |
Maximum sales charge (3.00% of offering price) | 0.36 |
Maximum offering price per share outstanding | $ 12.05 |
Class C | |
Net assets applicable to outstanding shares | $ 160,624 |
Shares of beneficial interest outstanding | 13,880 |
Net asset value and offering price per share outstanding | $ 11.57 |
Class I | |
Net assets applicable to outstanding shares | $ 141,878 |
Shares of beneficial interest outstanding | 12,194 |
Net asset value and offering price per share outstanding | $ 11.64 |
Class R3 | |
Net assets applicable to outstanding shares | $ 465,744 |
Shares of beneficial interest outstanding | 40,032 |
Net asset value and offering price per share outstanding | $ 11.63 |
SIMPLE Class | |
Net assets applicable to outstanding shares | $ 4,576,513 |
Shares of beneficial interest outstanding | 393,076 |
Net asset value and offering price per share outstanding | $ 11.64 |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated | $ 454,176 |
Securities lending, net | 12,014 |
Dividends-affiliated | 1,693 |
Total income | 467,883 |
Expenses | |
Distribution/Service—Class A (See Note 3) | 48,765 |
Distribution/Service—Class C (See Note 3) | 842 |
Distribution/Service—Class R3 (See Note 3) | 1,154 |
Distribution/Service—SIMPLE Class (See Note 3) | 9,160 |
Registration | 48,324 |
Manager (See Note 3) | 43,452 |
Transfer agent (See Note 3) | 23,851 |
Professional fees | 16,841 |
Custodian | 9,655 |
Shareholder communication | 3,055 |
Trustees | 462 |
Shareholder service (See Note 3) | 231 |
Miscellaneous | 2,272 |
Total expenses before waiver/reimbursement | 208,064 |
Expense waiver/reimbursement from Manager (See Note 3) | (28,418) |
Net expenses | 179,646 |
Net investment income (loss) | 288,237 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on unaffiliated investments | (1,011,353) |
Net change in unrealized appreciation (depreciation) on unaffiliated investments | (2,262,761) |
Net realized and unrealized gain (loss) | (3,274,114) |
Net increase (decrease) in net assets resulting from operations | $(2,985,877) |
84 | MainStay Equity ETF Allocation Fund |
for the six months ended October 31, 2022 (Unaudited) and the year ended April 30, 2022
Six months ended October 31, 2022 | Year ended April 30, 2022 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $ 288,237 | $ 363,970 |
Net realized gain (loss) | (1,011,353) | (332,770) |
Net change in unrealized appreciation (depreciation) | (2,262,761) | (3,768,943) |
Net increase (decrease) in net assets resulting from operations | (2,985,877) | (3,737,743) |
Distributions to shareholders: | ||
Class A | — | (362,336) |
Class C | — | (590) |
Class I | — | (2,163) |
Class R3 | — | (3,445) |
SIMPLE Class | — | (17,161) |
Total distributions to shareholders | — | (385,695) |
Capital share transactions: | ||
Net proceeds from sales of shares | 9,495,468 | 29,127,682 |
Net asset value of shares issued to shareholders in reinvestment of distributions | — | 381,517 |
Cost of shares redeemed | (2,555,833) | (7,847,877) |
Increase (decrease) in net assets derived from capital share transactions | 6,939,635 | 21,661,322 |
Net increase (decrease) in net assets | 3,953,758 | 17,537,884 |
Net Assets | ||
Beginning of period | 41,874,789 | 24,336,905 |
End of period | $45,828,547 | $41,874,789 |
Six months ended October 31, 2022* | Year Ended April 30, | June 30, 2020^ through April 30, | |||
Class A | 2022 | 2021 | |||
Net asset value at beginning of period | $ 12.54 | $ 13.64 | $ 10.00 | ||
Net investment income (loss) (a) | 0.08 | 0.15 | 0.07 | ||
Net realized and unrealized gain (loss) | (0.93) | (1.10) | 3.62 | ||
Total from investment operations | (0.85) | (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 | $ 11.69 | $ 12.54 | $ 13.64 | ||
Total investment return (b) | (6.78)% | (7.21)% | 37.04% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 1.36%†† | 1.08% | 0.63%†† | ||
Net expenses (c) | 0.80%†† | 0.80% | 0.80%†† | ||
Expenses (before waiver/reimbursement) (c) | 0.93%†† | 0.92% | 1.90%†† | ||
Portfolio turnover rate | 12% | 43% | 24% | ||
Net assets at end of period (in 000’s) | $ 40,484 | $ 38,162 | $ 20,221 |
* | Unaudited. |
^ | 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. |
86 | MainStay Equity ETF Allocation Fund |
Six months ended October 31, 2022* | Year Ended April 30, | June 30, 2020^ through April 30, | |||
Class C | 2022 | 2021 | |||
Net asset value at beginning of period | $ 12.46 | $ 13.57 | $ 10.00 | ||
Net investment income (loss) (a) | 0.04 | 0.05 | (0.02) | ||
Net realized and unrealized gain (loss) | (0.93) | (1.11) | 3.63 | ||
Total from investment operations | (0.89) | (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 | $ 11.57 | $ 12.46 | $ 13.57 | ||
Total investment return (b) | (7.14)% | (7.92)% | 36.13% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 0.65%†† | 0.38% | (0.20)%†† | ||
Net expenses (c) | 1.55%†† | 1.55% | 1.55%†† | ||
Expenses (before waiver/reimbursement) (c) | 1.73%†† | 1.75% | 2.61%†† | ||
Portfolio turnover rate | 12% | 43% | 24% | ||
Net assets at end of period (in 000’s) | $ 161 | $ 177 | $ 175 |
* | Unaudited. |
^ | 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. |
Six months ended October 31, 2022* | Year Ended April 30, | June 30, 2020^ through April 30, | |||
Class I | 2022 | 2021 | |||
Net asset value at beginning of period | $ 12.47 | $ 13.56 | $ 10.00 | ||
Net investment income (loss) (a) | 0.10 | 0.07 | 0.08 | ||
Net realized and unrealized gain (loss) | (0.93) | (0.98) | 3.62 | ||
Total from investment operations | (0.83) | (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 | $ 11.64 | $ 12.47 | $ 13.56 | ||
Total investment return (b) | (6.74)% | (6.96)% | 37.30% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 1.64%†† | 0.49% | 0.80%†† | ||
Net expenses (c) | 0.55%†† | 0.48% | 0.55%†† | ||
Expenses (before waiver/reimbursement) (c) | 0.68%†† | 0.60% | 1.65%†† | ||
Portfolio turnover rate | 12% | 43% | 24% | ||
Net assets at end of period (in 000’s) | $ 142 | $ 152 | $ 2,684 |
* | Unaudited. |
^ | 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. |
88 | MainStay Equity ETF Allocation Fund |
Six months ended October 31, 2022* | Year Ended April 30, | June 30, 2020^ through April 30, | |||
Class R3 | 2022 | 2021 | |||
Net asset value at beginning of period | $ 12.51 | $ 13.61 | $ 10.00 | ||
Net investment income (loss) (a) | 0.06 | 0.10 | 0.04 | ||
Net realized and unrealized gain (loss) | (0.94) | (1.10) | 3.62 | ||
Total from investment operations | (0.88) | (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 | $ 11.63 | $ 12.51 | $ 13.61 | ||
Total investment return (b) | (7.03)% | (7.47)% | 36.62% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 1.04%†† | 0.74% | 0.39%†† | ||
Net expenses (c) | 1.15%†† | 1.15% | 1.15%†† | ||
Expenses (before waiver/reimbursement) (c) | 1.28%†† | 1.27% | 2.25%†† | ||
Portfolio turnover rate | 12% | 43% | 24% | ||
Net assets at end of period (in 000’s) | $ 466 | $ 472 | $ 445 |
* | Unaudited. |
^ | 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. |
Six months ended October 31, 2022* | Year Ended April 30, | August 31, 2020^ through April 30, | |||
SIMPLE Class | 2022 | 2021 | |||
Net asset value at beginning of period | $ 12.51 | $ 13.61 | $ 11.08 | ||
Net investment income (loss) (a) | 0.06 | 0.11 | 0.06 | ||
Net realized and unrealized gain (loss) | (0.93) | (1.10) | 2.52 | ||
Total from investment operations | (0.87) | (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 | $ 11.64 | $ 12.51 | $ 13.61 | ||
Total investment return (b) | (6.95)% | (7.38)% | 23.32% | ||
Ratios (to average net assets)/Supplemental Data: | |||||
Net investment income (loss) | 1.04%†† | 0.78% | 0.51%†† | ||
Net expenses (c) | 1.05%†† | 1.05% | 1.05%†† | ||
Expenses (before waiver/reimbursement) (c) | 1.23%†† | 1.25% | 2.11%†† | ||
Portfolio turnover rate | 12% | 43% | 24% | ||
Net assets at end of period (in 000’s) | $ 4,577 | $ 2,911 | $ 811 |
* | Unaudited. |
^ | 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. |
90 | MainStay Equity ETF Allocation Fund |
Average Annual Total Returns for the Period-Ended October 31, 2022 | |||||||
Class | Sales Charge | Inception Date | Six Months1 | One Year | Since Inception1 | Gross Expense Ratio2 | |
Class A Shares | Maximum 3% Initial Sales Charge | With sales charges | 9/30/2021 | -9.27% | -19.03% | -15.33% | 2.53% |
Excluding sales charges | -6.47 | -16.53 | -12.92 | 2.53 | |||
Class C Shares | Maximum 1% CDSC | With sales charges | 9/30/2021 | -7.75 | -17.91 | -13.55 | 3.28 |
if redeemed Within One Year of Purchase | Excluding sales charges | -6.82 | -17.10 | -13.55 | 3.28 | ||
Class I Shares | No Sales Charge | 9/30/2021 | -6.35 | -16.28 | -12.68 | 2.28 | |
Class R3 Shares | No Sales Charge | 9/30/2021 | -6.58 | -16.80 | -13.18 | 2.88 | |
SIMPLE Class Shares | No Sales Charge | 9/30/2021 | -6.47 | -16.68 | -13.07 | 2.78 |
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* | Six Months1 | One Year | Since Inception |
S&P 500® Index2 | -5.50% | -14.61% | -7.99% |
MSCI EAFE® Index (Net)3 | -12.70 | -23.00 | -19.65 |
Bloomberg U.S. Aggregate Bond Index4 | -6.86 | -15.68 | -14.59 |
Multi-Asset Allocation Composite Index5 | -6.94 | -16.04 | -12.15 |
Morningstar Allocation-50% to 70% Equity Category Average6 | -6.12 | -14.40 | -10.49 |
* | Returns for indices reflect no deductions for fees, expenses or taxes, except for foreign withholding taxes where applicable. Results assume reinvestment of all dividends and capital gains. An investment cannot be made directly in an index. |
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. |
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. |
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. |
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. |
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. |
92 | MainStay ESG Multi-Asset Allocation Fund |
Share Class | Beginning Account Value 5/1/22 | Ending Account Value (Based on Actual Returns and Expenses) 10/31/22 | Expenses Paid During Period1 | Ending Account Value (Based on Hypothetical 5% Annualized Return and Actual Expenses) 10/31/22 | Expenses Paid During Period1 | Net Expense Ratio During Period2 |
Class A Shares | $1,000.00 | $935.30 | $3.90 | $1,021.17 | $4.08 | 0.80% |
Class C Shares | $1,000.00 | $931.80 | $7.55 | $1,017.39 | $7.88 | 1.55% |
Class I Shares | $1,000.00 | $936.50 | $2.68 | $1,022.43 | $2.80 | 0.55% |
Class R3 Shares | $1,000.00 | $934.20 | $5.61 | $1,019.41 | $5.85 | 1.15% |
SIMPLE Class Shares | $1,000.00 | $935.30 | $5.12 | $1,019.91 | $5.35 | 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 184 (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. |
Unaffiliated Investment Companies | 86.8 % |
Affiliated Investment Companies | 6.9 |
Short-Term Investments | 16.9 |
Other Assets, Less Liabilities | (10.6) |
94 | MainStay ESG Multi-Asset Allocation Fund |
• | Management of the stock/bond blend: The Fund’s management of its stock/bond blend proved generally successful, reflecting |
• | Value created within asset classes: The equity portion of the Fund emphasized value over growth, a position that the market rewarded. Conditions also favored the Fund’s skew toward profitable small-cap companies. |
• | Shorter duration:2 We shortened the average duration of the fixed-income portion of the Fund, which further lifted relative returns. |
1. | See page 91 for other share class returns, which may be higher or lower than Class I share returns. See page 92 for more information on benchmark and peer group returns. |
2. | Duration is a measure of the price sensitivity of a fixed-income investment to changes in interest rates. Duration is expressed as a number of years and is considered a more accurate sensitivity gauge than average maturity. |
3. | The expression “excess return” may refer to the return that a security or portfolio provides above (or below) an investment with the lowest perceived risk, such as comparable U.S. Treasury securities. The expression may also refer to the return that a security or portfolio provides above (or below) an index or other benchmark. |
96 | MainStay ESG Multi-Asset Allocation Fund |
Shares | Value | |
Affiliated Investment Companies 6.9% | ||
Equity Funds 6.9% | ||
IQ Candriam ESG International Equity ETF (a) | 1,480 | $ 33,161 |
IQ Candriam ESG U.S. Large Cap Equity ETF | 22,118 | 725,692 |
Total Affiliated Investment Companies (Cost $798,251) | 758,853 | |
Unaffiliated Investment Companies 86.8% | ||
Equity Funds 70.2% | ||
iShares ESG Advanced High Yield Corporate Bond ETF | 15,329 | 662,519 |
iShares ESG Advanced MSCI EAFE ETF (a) | 1,516 | 73,829 |
iShares ESG Aware 1-5 Year USD Corporate Bond ETF (a) | 14,553 | 340,249 |
iShares ESG Aware MSCI EAFE ETF (a) | 12,540 | 744,876 |
iShares ESG Aware MSCI EM ETF | 7,786 | 212,480 |
iShares ESG Aware MSCI USA Small-Cap ETF | 16,594 | 559,550 |
iShares ESG Aware U.S. Aggregate Bond ETF | 15,671 | 716,008 |
iShares ESG Screened S&P 500 ETF | 27,676 | 795,715 |
iShares MSCI USA ESG Select ETF (a) | 1,505 | 124,313 |
Nuveen ESG Emerging Markets Equity ETF | 796 | 18,073 |
Nuveen ESG High Yield Corporate Bond ETF (a) | 8,623 | 175,564 |
Nuveen ESG International Devel | 3,078 | 72,373 |
Nuveen ESG Large-Cap Value ETF (a) | 16,811 | 576,617 |
Nuveen ESG Mid-Cap Growth ETF | 13,262 | 456,478 |
Nuveen ESG Mid-Cap Value ETF | 24,755 | 769,881 |
Nuveen ESG Small-Cap ETF | 16,031 | 570,383 |
SPDR S&P 500 ESG ETF | 18,166 | 672,869 |
Xtrackers Emerging Markets Carbon Reduction and Climate Improvers ETF (a) | 1,413 | 32,598 |
Xtrackers MSCI USA ESG Leaders Equity ETF | 3,350 | 116,915 |
Total Equity Funds (Cost $8,528,709) | 7,691,290 | |
Fixed Income Funds 16.6% | ||
iShares ESG Advanced Total USD Bond Market ETF (a) | 33,718 | 1,391,542 |
Vanguard ESG U.S. Corporate Bond ETF (a) | 7,268 | 426,486 |
Total Fixed Income Funds (Cost $1,936,046) | 1,818,028 | |
Total Unaffiliated Investment Companies (Cost $10,464,755) | 9,509,318 | |
Short-Term Investments 16.9% | ||
Affiliated Investment Company 6.1% | ||
MainStay U.S. Government Liquidity Fund, 2.905% (b) | 666,141 | 666,141 |
98 | MainStay ESG Multi-Asset Allocation Fund |
Shares | Value | ||
Short-Term Investments (continued) | |||
Unaffiliated Investment Company 10.8% | |||
Invesco Government and Agency Portfolio, 3.154% (b)(c) | 1,184,395 | $ 1,184,395 | |
Total Short-Term Investments (Cost $1,850,536) | 16.9% | 1,850,536 | |
Total Investments (Cost $13,113,542) | 110.6% | 12,118,707 | |
Other Assets, Less Liabilities | (10.6) | (1,161,192) | |
Net Assets | 100.0% | $ 10,957,515 |
† | Percentages indicated are based on Fund net assets. |
(a) | All or a portion of this security was held on loan. As of October 31, 2022, the aggregate market value of securities on loan was $1,152,396. The Fund received cash collateral with a value of $1,184,395. (See Note 2(G)) |
(b) | Current yield as of October 31, 2022. |
(c) | Represents a security purchased with cash collateral received for securities on loan. |
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 | $ 152 | $ 32 | $ (147) | $ (20) | $ 16 | $ 33 | $ — | $ — | 1 |
IQ Candriam ESG U.S. Large Cap Equity ETF (a) | 73 | 728 | (38) | (1) | (36) | 726 | 3 | — | 22 |
MainStay U.S. Government Liquidity Fund | 362 | 3,735 | (3,431) | — | — | 666 | 4 | — | 666 |
$ 587 | $4,495 | $(3,616) | $ (21) | $ (20) | $1,425 | $ 7 | $ — |
(a) | Prior to August 31, 2022, known as IQ Candriam ESG U.S. Equity ETF. |
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 | $ 758,853 | $ — | $ — | $ 758,853 | |||
Unaffiliated Investment Companies | |||||||
Equity Funds | 7,691,290 | — | — | 7,691,290 | |||
Fixed Income Funds | 1,818,028 | — | — | 1,818,028 | |||
Total Unaffiliated Investment Companies | 9,509,318 | — | — | 9,509,318 | |||
Short-Term Investments | |||||||
Affiliated Investment Company | 666,141 | — | — | 666,141 | |||
Unaffiliated Investment Company | 1,184,395 | — | — | 1,184,395 | |||
Total Short-Term Investments | 1,850,536 | — | — | 1,850,536 | |||
Total Investments in Securities | $ 12,118,707 | $ — | $ — | $ 12,118,707 |
(a) | For a complete listing of investments, see the Portfolio of Investments. |
100 | MainStay ESG Multi-Asset Allocation Fund |
Assets | |
Investment in unaffiliated securities, at value (identified cost $11,649,150) including securities on loan of $1,152,396 | $10,693,713 |
Investment in affiliated investment companies, at value (identified cost $1,464,392) | 1,424,994 |
Cash | 772 |
Receivables: | |
Manager (See Note 3) | 4,119 |
Fund shares sold | 2,943 |
Dividends | 1,264 |
Other assets | 55,202 |
Total assets | 12,183,007 |
Liabilities | |
Cash collateral received for securities on loan | 1,184,395 |
Payables: | |
Transfer agent (See Note 3) | 13,680 |
Investment securities purchased | 8,885 |
Professional fees | 8,569 |
Custodian | 3,443 |
Shareholder communication | 3,151 |
NYLIFE Distributors (See Note 3) | 479 |
Offering costs | 291 |
Trustees | 81 |
Accrued expenses | 2,518 |
Total liabilities | 1,225,492 |
Net assets | $10,957,515 |
Composition of Net Assets | |
Shares of beneficial interest outstanding (par value of $.001 per share) unlimited number of shares authorized | $ 1,303 |
Additional paid-in-capital | 12,829,876 |
12,831,179 | |
Total distributable earnings (loss) | (1,873,664) |
Net assets | $10,957,515 |
Class A | |
Net assets applicable to outstanding shares | $2,185,285 |
Shares of beneficial interest outstanding | 260,293 |
Net asset value per share outstanding | $ 8.40 |
Maximum sales charge (3.00% of offering price) | 0.26 |
Maximum offering price per share outstanding | $ 8.66 |
Class C | |
Net assets applicable to outstanding shares | $ 21,358 |
Shares of beneficial interest outstanding | 2,560 |
Net asset value and offering price per share outstanding | $ 8.34 |
Class I | |
Net assets applicable to outstanding shares | $8,561,534 |
Shares of beneficial interest outstanding | 1,017,466 |
Net asset value and offering price per share outstanding | $ 8.41 |
Class R3 | |
Net assets applicable to outstanding shares | $ 37,327 |
Shares of beneficial interest outstanding | 4,458 |
Net asset value and offering price per share outstanding | $ 8.37 |
SIMPLE Class | |
Net assets applicable to outstanding shares | $ 152,011 |
Shares of beneficial interest outstanding | 18,141 |
Net asset value and offering price per share outstanding | $ 8.38 |
Investment Income (Loss) | |
Income | |
Dividends-unaffiliated | $ 99,266 |
Dividends-affiliated | 7,412 |
Securities lending, net | 4,973 |
Total income | 111,651 |
Expenses | |
Offering (See Note 2) | 44,964 |
Registration | 17,634 |
Manager (See Note 3) | 10,628 |
Professional fees | 6,933 |
Custodian | 6,701 |
Shareholder communication | 2,746 |
Distribution/Service—Class A (See Note 3) | 2,002 |
Distribution/Service—Class C (See Note 3) | 111 |
Distribution/Service—Class R3 (See Note 3) | 97 |
Distribution/Service—SIMPLE Class (See Note 3) | 264 |
Transfer agent (See Note 3) | 2,162 |
Trustees | 43 |
Shareholder service (See Note 3) | 19 |
Miscellaneous | 510 |
Total expenses before waiver/reimbursement | 94,814 |
Expense waiver/reimbursement from Manager (See Note 3) | (63,096) |
Net expenses | 31,718 |
Net investment income (loss) | 79,933 |
Realized and Unrealized Gain (Loss) | |
Net realized gain (loss) on: | |
Unaffiliated investments | (667,881) |
Affiliated investments | (20,700) |
Net realized gain (loss) | (688,581) |
Net change in unrealized appreciation (depreciation) on: | |
Unaffiliated investments | (60,032) |
Affiliated investments | (20,128) |
Net change in unrealized appreciation (depreciation) | (80,160) |
Net realized and unrealized gain (loss) | (768,741) |
Net increase (decrease) in net assets resulting from operations | $(688,808) |
102 | MainStay ESG Multi-Asset Allocation Fund |
for the six months ended October 31, 2022 (Unaudited) and the period September 30, 2021 (inception date) through April 30, 2022
Six months ended October 31, 2022 | Period ended April 30, 2022 | |
Increase (Decrease) in Net Assets | ||
Operations: | ||
Net investment income (loss) | $ 79,933 | $ 82,549 |
Net realized gain (loss) | (688,581) | (66,802) |
Net change in unrealized appreciation (depreciation) | (80,160) | (914,675) |
Net increase (decrease) in net assets resulting from operations | (688,808) | (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 | 1,239,767 | 11,393,208 |
Net asset value of shares issued to shareholders in reinvestment of distributions | — | 286,286 |
Cost of shares redeemed | (25,920) | (61,804) |
Increase (decrease) in net assets derived from capital share transactions | 1,213,847 | 11,617,690 |
Net increase (decrease) in net assets | 525,039 | 10,432,476 |
Net Assets | ||
Beginning of period | 10,432,476 | — |
End of period | $10,957,515 | $10,432,476 |
Six months ended October 31, 2022* | September 30, 2021^ through April 30, | ||
Class A | 2022 | ||
Net asset value at beginning of period | $ 8.97 | $ 10.00 | |
Net investment income (loss) (a) | 0.06 | 0.05 | |
Net realized and unrealized gain (loss) | (0.63) | (0.82) | |
Total from investment operations | (0.57) | (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 | $ 8.40 | $ 8.97 | |
Total investment return (b) | (6.47)% | (7.99)% | |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss)†† | 1.28% | 0.93% | |
Net expenses††(c) | 0.80% | 0.80% | |
Expenses (before waiver/reimbursement)††(c) | 1.97% | 2.40% | |
Portfolio turnover rate | 60% | 70% | |
Net assets at end of period (in 000’s) | $ 2,185 | $ 1,161 |
* | Unaudited. |
^ | 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. |
Six months ended October 31, 2022* | September 30, 2021^ through April 30, | ||
Class C | 2022 | ||
Net asset value at beginning of period | $ 8.95 | $ 10.00 | |
Net investment income (loss) (a) | 0.02 | 0.02 | |
Net realized and unrealized gain (loss) | (0.63) | (0.83) | |
Total from investment operations | (0.61) | (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 | $ 8.34 | $ 8.95 | |
Total investment return (b) | (6.82)% | (8.37)% | |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss)†† | 0.56% | 0.36% | |
Net expenses††(c) | 1.55% | 1.55% | |
Expenses (before waiver/reimbursement)††(c) | 2.78% | 3.15% | |
Portfolio turnover rate | 60% | 70% | |
Net assets at end of period (in 000’s) | $ 21 | $ 23 |
* | Unaudited. |
^ | 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. |
104 | MainStay ESG Multi-Asset Allocation Fund |
Six months ended October 31, 2022* | September 30, 2021^ through April 30, | ||
Class I | 2022 | ||
Net asset value at beginning of period | $ 8.98 | $ 10.00 | |
Net investment income (loss) (a) | 0.07 | 0.08 | |
Net realized and unrealized gain (loss) | (0.64) | (0.84) | |
Total from investment operations | (0.57) | (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 | $ 8.41 | $ 8.98 | |
Total investment return (b) | (6.35)% | (7.83)% | |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss)†† | 1.56% | 1.36% | |
Net expenses††(c) | 0.55% | 0.55% | |
Expenses (before waiver/reimbursement)††(c) | 1.74% | 2.15% | |
Portfolio turnover rate | 60% | 70% | |
Net assets at end of period (in 000’s) | $ 8,562 | $ 9,135 |
* | Unaudited. |
^ | 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. 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. |
Six months ended October 31, 2022* | September 30, 2021^ through April 30, | ||
Class R3 | 2022 | ||
Net asset value at beginning of period | $ 8.96 | $ 10.00 | |
Net investment income (loss) (a) | 0.04 | 0.03 | |
Net realized and unrealized gain (loss) | (0.63) | (0.82) | |
Total from investment operations | (0.59) | (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 | $ 8.37 | $ 8.96 | |
Total investment return (b) | (6.58)% | (8.17)% | |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss)†† | 0.96% | 0.52% | |
Net expenses††(c) | 1.15% | 1.15% | |
Expenses (before waiver/reimbursement)††(c) | 2.34% | 2.75% | |
Portfolio turnover rate | 60% | 70% | |
Net assets at end of period (in 000’s) | $ 37 | $ 40 |
* | Unaudited. |
^ | 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. 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. |
106 | MainStay ESG Multi-Asset Allocation Fund |
Six months ended October 31, 2022* | September 30, 2021^ through April 30, | ||
SIMPLE Class | 2022 | ||
Net asset value at beginning of period | $ 8.96 | $ 10.00 | |
Net investment income (loss) (a) | 0.04 | 0.03 | |
Net realized and unrealized gain (loss) | (0.62) | (0.82) | |
Total from investment operations | (0.58) | (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 | $ 8.38 | $ 8.96 | |
Total investment return (b) | (6.47)% | (8.15)% | |
Ratios (to average net assets)/Supplemental Data: | |||
Net investment income (loss)†† | 0.95% | 0.57% | |
Net expenses††(c) | 1.05% | 1.05% | |
Expenses (before waiver/reimbursement)††(c) | 2.27% | 2.65% | |
Portfolio turnover rate | 60% | 70% | |
Net assets at end of period (in 000’s) | $ 152 | $ 74 |
* | Unaudited. |
^ | 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. 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. |
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 |
1. | For each ETF Allocation Fund, other than MainStay ESG Multi-Asset Allocation Fund, Investor Class and Class R6 shares were registered for sale as of June 30, 2020, but as of October 31, 2022 were not yet offered for sale. For MainStay ESG Multi-Asset Allocation Fund, Investor Class and Class R6 shares were registered for sale as of September 30, 2021, but as of October 31, 2022 were not yet offered for sale. |
108 | Mainstay ETF Asset Allocation Funds |
• | Level 1—quoted prices (unadjusted) in active markets for an identical asset or liability |
• | Level 2—other significant observable inputs (including quoted prices for a similar asset or liability in active markets, interest rates and yield curves, prepayment speeds, credit risk, etc.) |
• | Level 3—significant unobservable inputs (including each ETF Allocation Fund's own assumptions about the assumptions that market participants would use in measuring fair value of an asset or liability) |
110 | 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 | $ 9,919 | $(54,065) |
MainStay Conservative ETF Allocation Fund | 34,733 | (24,719) |
MainStay Moderate ETF Allocation Fund | 91,041 | — |
MainStay Growth ETF Allocation Fund | 59,133 | (6,616) |
MainStay Equity ETF Allocation Fund | 43,452 | (28,418) |
MainStay ESG Multi-Asset Allocation Fund | 10,628 | (63,096) |
MainStay Defensive ETF Allocation Fund | |
Class R3 | $ 19 |
MainStay Conservative ETF Allocation Fund | |
Class R3 | $145 |
112 | Mainstay ETF Asset Allocation Funds |
MainStay Moderate ETF Allocation Fund | |
Class R3 | $512 |
MainStay Growth ETF Allocation Fund | |
Class R3 | $247 |
MainStay Equity ETF Allocation Fund | |
Class R3 | $231 |
MainStay ESG Multi-Asset Allocation Fund | |
Class R3 | $ 19 |
MainStay Defensive ETF Allocation Fund | |
Class A | $ 2,756 |
MainStay Conservative ETF Allocation Fund | |
Class A | $ 6,468 |
MainStay Moderate ETF Allocation Fund | |
Class A | $ 19,099 |
MainStay Growth ETF Allocation Fund | |
Class A | $ 18,920 |
MainStay Equity ETF Allocation Fund | |
Class A | $ 15,356 |
MainStay ESG Multi-Asset Allocation Fund | |
Class A | $ 472 |
MainStay Defensive ETF Allocation Fund | |
Class A | $ 150 |
MainStay Moderate ETF Allocation Fund | |
Class A | $ 272 |
MainStay Growth ETF Allocation Fund | |
Class A | $ 1,700 |
MainStay Equity ETF Allocation Fund | |
Class A | $ 84 |
MainStay Defensive ETF Allocation Fund | Expense | Waived |
Class A | $ 3,245 | $ — |
Class C | 71 | — |
Class I | 13 | — |
Class R3 | 13 | — |
SIMPLE Class | 251 | — |
MainStay Conservative ETF Allocation Fund | Expense | Waived |
Class A | $ 12,435 | $ — |
Class C | 254 | — |
Class I | 13 | — |
Class R3 | 104 | — |
SIMPLE Class | 794 | — |
MainStay Moderate ETF Allocation Fund | Expense | Waived |
Class A | $ 33,612 | $ — |
Class C | 256 | — |
Class I | 28 | — |
Class R3 | 397 | — |
SIMPLE Class | 2,743 | — |
MainStay Growth ETF Allocation Fund | Expense | Waived |
Class A | $ 29,734 | $ — |
Class C | 224 | — |
Class I | 31 | — |
Class R3 | 274 | — |
SIMPLE Class | 3,426 | — |
MainStay Equity ETF Allocation Fund | Expense | Waived |
Class A | $ 20,607 | $ — |
Class C | 133 | — |
Class I | 78 | — |
Class R3 | 245 | — |
SIMPLE Class | 2,788 | — |
MainStay ESG Multi-Asset Allocation Fund | Expense | Waived |
Class A | $ 268 | $ — |
Class C | 10 | — |
Class I | 1,833 | — |
Class R3 | 8 | — |
SIMPLE Class | 43 | — |
MainStay Defensive ETF Allocation Fund | ||||
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $12,995,408 | $47,696 | $(1,233,563) | $(1,185,867) |
MainStay Conservative ETF Allocation Fund | ||||
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $45,742,092 | $153,520 | $(3,234,434) | $(3,080,914) |
MainStay Moderate ETF Allocation Fund | ||||
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $111,461,137 | $983,126 | $(6,656,240) | $(5,673,114) |
MainStay Growth ETF Allocation Fund | ||||
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $73,026,626 | $629,266 | $(3,236,735) | $(2,607,469) |
MainStay Equity ETF Allocation Fund | ||||
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $50,872,359 | $242,849 | $(3,717,989) | $(3,475,140) |
MainStay ESG Multi-Asset Allocation Fund | ||||
Federal Tax Cost | Gross Unrealized Appreciation | Gross Unrealized (Depreciation) | Net Unrealized Appreciation/ (Depreciation) | |
Investments in Securities | $13,224,326 | $40,546 | $(1,146,165) | $(1,105,619) |
Capital Loss Available Through | Short-Term Capital Loss Amounts (000’s) | Long-Term Capital Loss Amounts (000’s) |
Unlimited | $76 | $— |
114 | Mainstay ETF Asset Allocation Funds |
2022 | |||
Fund | Ordinary Income | Long-Term Capital Gains | Total |
MainStay Defensive ETF Allocation Fund | $ 255,743 | $ 901 | $ 256,644 |
MainStay Conservative ETF Allocation Fund | 737,286 | — | 737,286 |
MainStay Moderate ETF Allocation Fund | 1,226,137 | — | 1,226,137 |
MainStay Growth ETF Allocation Fund | 623,890 | — | 623,890 |
MainStay Equity ETF Allocation Fund | 384,052 | 1,643 | 385,695 |
MainStay ESG Multi-Asset Allocation Fund | 286,286 | — | 286,286 |
Fund | Purchases | Sales |
MainStay Defensive ETF Allocation Fund | $ 3,605 | $ 3,411 |
MainStay Conservative ETF Allocation Fund | 11,973 | 11,612 |
MainStay Moderate ETF Allocation Fund | 31,539 | 28,569 |
MainStay Growth ETF Allocation Fund | 22,905 | 16,433 |
MainStay Equity ETF Allocation Fund | 12,426 | 5,043 |
MainStay ESG Multi-Asset Allocation Fund | 6,987 | 6,080 |
Class A | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 162,668 | $ 1,492,203 |
Shares issued to shareholders in reinvestment of distributions | 12,848 | 114,469 |
Shares redeemed | (125,263) | (1,153,883) |
Net increase (decrease) in shares outstanding before conversion | 50,253 | 452,789 |
Shares converted into Class A (See Note 1) | 396 | 3,634 |
Net increase (decrease) | 50,649 | $ 456,423 |
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 |
Class C | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares issued to shareholders in reinvestment of distributions | 88 | $ 790 |
Shares redeemed | (2,084) | (18,996) |
Net increase (decrease) in shares outstanding before conversion | (1,996) | (18,206) |
Shares converted from Class C (See Note 1) | (397) | (3,634) |
Net increase (decrease) | (2,393) | $ (21,840) |
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) |
Class I | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 623 | $ 5,794 |
Shares issued to shareholders in reinvestment of distributions | 57 | 503 |
Net increase (decrease) | 680 | $ 6,297 |
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) |
Class R3 | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 2,070 | $ 19,000 |
Shares issued to shareholders in reinvestment of distributions | 47 | 422 |
Net increase (decrease) | 2,117 | $ 19,422 |
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 |
SIMPLE Class | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 19,788 | $ 184,359 |
Shares issued to shareholders in reinvestment of distributions | 443 | 3,941 |
Shares redeemed | (843) | (7,694) |
Net increase (decrease) | 19,388 | $ 180,606 |
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 |
Class A | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 424,012 | $ 4,189,884 |
Shares issued to shareholders in reinvestment of distributions | 38,406 | 363,822 |
Shares redeemed | (338,255) | (3,323,639) |
Net increase (decrease) in shares outstanding before conversion | 124,163 | 1,230,067 |
Shares converted into Class A (See Note 1) | 360 | 3,520 |
Net increase (decrease) | 124,523 | $ 1,233,587 |
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 |
116 | Mainstay ETF Asset Allocation Funds |
Class C | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 363 | $ 3,600 |
Shares issued to shareholders in reinvestment of distributions | 313 | 2,968 |
Shares redeemed | (197) | (2,000) |
Net increase (decrease) in shares outstanding before conversion | 479 | 4,568 |
Shares converted from Class C (See Note 1) | (361) | (3,520) |
Net increase (decrease) | 118 | $ 1,048 |
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) |
Class I | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares issued to shareholders in reinvestment of distributions | 44 | $ 407 |
Net increase (decrease) | 44 | $ 407 |
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) |
Class R3 | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 28,516 | $ 275,869 |
Shares issued to shareholders in reinvestment of distributions | 370 | 3,497 |
Net increase (decrease) | 28,886 | $ 279,366 |
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 |
SIMPLE Class | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 54,328 | $ 534,633 |
Shares issued to shareholders in reinvestment of distributions | 1,387 | 13,103 |
Shares redeemed | (8,036) | (78,344) |
Net increase (decrease) | 47,679 | $ 469,392 |
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 |
Class A | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 923,679 | $ 9,846,526 |
Shares redeemed | (538,987) | (5,716,973) |
Net increase (decrease) in shares outstanding before conversion | 384,692 | 4,129,553 |
Shares converted into Class A (See Note 1) | 3,157 | 33,053 |
Net increase (decrease) | 387,849 | $ 4,162,606 |
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 |
Class C | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 1,663 | $ 17,550 |
Shares redeemed | (970) | (9,855) |
Net increase (decrease) in shares outstanding before conversion | 693 | 7,695 |
Shares converted from Class C (See Note 1) | (3,179) | (33,053) |
Net increase (decrease) | (2,486) | $ (25,358) |
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) |
Class I(a) | 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 |
Class R3 | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 44,138 | $ 458,577 |
Net increase (decrease) | 44,138 | $ 458,577 |
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 |
SIMPLE Class | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 187,035 | $ 1,983,319 |
Shares redeemed | (9,158) | (96,289) |
Net increase (decrease) | 177,877 | $ 1,887,030 |
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 |
(a) | No activity during the six-month period ended October 31, 2022. |
Class A | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 850,148 | $ 9,706,026 |
Shares redeemed | (331,778) | (3,773,125) |
Net increase (decrease) in shares outstanding before conversion | 518,370 | 5,932,901 |
Shares converted into Class A (See Note 1) | 156 | 1,752 |
Net increase (decrease) | 518,526 | $ 5,934,653 |
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 |
Class C | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 1,464 | $ 16,309 |
Net increase (decrease) in shares outstanding before conversion | 1,464 | 16,309 |
Shares converted from Class C (See Note 1) | (157) | (1,752) |
Net increase (decrease) | 1,307 | $ 14,557 |
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 |
Class I | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 3,058 | $ 34,650 |
Net increase (decrease) | 3,058 | $ 34,650 |
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 |
Class R3 | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 6,321 | $ 70,299 |
Net increase (decrease) | 6,321 | $ 70,299 |
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 |
SIMPLE Class | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 222,155 | $ 2,515,334 |
Shares redeemed | (7,223) | (81,499) |
Net increase (decrease) | 214,932 | $ 2,433,835 |
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 |
118 | Mainstay ETF Asset Allocation Funds |
Class A | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 626,852 | $ 7,479,646 |
Shares redeemed | (206,811) | (2,464,713) |
Net increase (decrease) in shares outstanding before conversion | 420,041 | 5,014,933 |
Shares converted into Class A (See Note 1) | 522 | 6,086 |
Net increase (decrease) | 420,563 | $ 5,021,019 |
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 |
Class C | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 527 | $ 6,200 |
Shares redeemed | (354) | (3,872) |
Net increase (decrease) in shares outstanding before conversion | 173 | 2,328 |
Shares converted from Class C (See Note 1) | (526) | (6,086) |
Net increase (decrease) | (353) | $ (3,758) |
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 |
Class I(a) | 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) |
Class R3 | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 2,260 | $ 26,774 |
Net increase (decrease) | 2,260 | $ 26,774 |
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 |
SIMPLE Class | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 167,615 | $ 1,982,848 |
Shares redeemed | (7,250) | (87,248) |
Net increase (decrease) | 160,365 | $ 1,895,600 |
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 |
(a) | No activity during the six-month period ended October 31, 2022. |
Class A | Shares | Amount |
Six-month period ended October 31, 2022: | ||
Shares sold | 133,894 | $ 1,155,352 |
Shares redeemed | (3,030) | (25,888) |
Net increase (decrease) | 130,864 | $ 1,129,464 |
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(b) | 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(b) | 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(b) | 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 |
Six-month period ended October 31, 2022: | ||
Shares sold | 9,858 | $ 84,415 |
Shares redeemed | (4) | (32) |
Net increase (decrease) | 9,854 | $ 84,383 |
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. |
(b) | No activity during the six-month period ended October 31, 2022. |
120 | Mainstay ETF Asset Allocation Funds |
1.
2. | This Fund is registered for sale in AZ, CA, NV, OR, TX, UT, WA and MI (Class A and Class I shares only), and CO, FL, GA, HI, ID, MA, MD, NH, NJ and NY (Class I shares only). |
3. | This Fund is registered for sale in CA, CT, DE, FL, MA, NJ, NY and VT. |
4. | An affiliate of New York Life Investment Management LLC. |
5013904.2MS229-22 | MSAAETF10-12/22 |
Item 2. Code of Ethics.
Not applicable.
Item 3. | Audit Committee Financial Expert. |
Not applicable.
Item 4. | Principal Accountant Fees and Services. |
Not applicable.
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. |
(a) |
(b) |
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: | January 6, 2023 |
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: | January 6, 2023 | |
By: | /s/ Jack R. Benintende | |
Jack R. Benintende | ||
Treasurer and Principal Financial and Accounting Officer | ||
Date: | January 6, 2023 |