MainStay MacKay Tax Free Bond Fund (MKTBX)
The investment seeks current income exempt from regular federal income tax. The fund, under normal circumstances, invests at least 80% of its assets (net assets plus borrowings for investment purposes) in municipal bonds that are rated investment grade. On average, it will invest in municipal bonds that have a maturity range of 10 to 30 years. The fund may not invest more than 20% of its net assets in tax-exempt securities subject to the federal alternative minimum tax.
Fund Info
US56062F8068
56062F806
Apr 30, 1986
$1,000
Expense Ratio
MKTBX has a high expense ratio of 1.02%, indicating higher-than-average management fees.
Share Price Chart
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in MainStay MacKay Tax Free Bond Fund, comparing it to the performance of the S&P 500 index or another benchmark. All prices have been adjusted for splits and dividends.
Returns By Period
MainStay MacKay Tax Free Bond Fund had a return of 0.06% year-to-date (YTD) and 1.82% in the last 12 months. Over the past 10 years, MainStay MacKay Tax Free Bond Fund had an annualized return of 1.96%, while the S&P 500 had an annualized return of 11.29%, indicating that MainStay MacKay Tax Free Bond Fund did not perform as well as the benchmark.
MKTBX
0.06%
0.71%
0.05%
1.82%
0.16%
1.96%
^GSPC (Benchmark)
4.22%
2.22%
9.51%
22.46%
12.74%
11.29%
Monthly Returns
The table below presents the monthly returns of MKTBX, with color gradation from worst to best to easily spot seasonal factors. Returns are adjusted for dividends.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | 0.06% | 0.06% | |||||||||||
| 2024 | 0.01% | 0.04% | -0.32% | -0.83% | -0.26% | 1.30% | 1.09% | 0.43% | 1.28% | -1.51% | 1.66% | -1.40% | 1.44% |
| 2023 | 3.12% | -2.18% | 1.99% | -0.32% | -0.43% | 0.70% | 0.27% | -1.33% | -3.26% | -1.00% | 6.33% | 2.26% | 5.94% |
| 2022 | -2.74% | -0.71% | -3.43% | -3.64% | 1.81% | -2.69% | 2.56% | -2.46% | -3.51% | -1.18% | 5.36% | -0.32% | -10.83% |
| 2021 | 0.56% | -1.70% | 0.79% | 1.01% | 0.37% | 0.41% | 0.46% | -0.33% | -0.81% | -0.28% | 1.15% | -0.21% | 1.40% |
| 2020 | 1.94% | 1.63% | -4.30% | -1.85% | 3.52% | 1.27% | 1.82% | -0.48% | -0.29% | -0.20% | 2.11% | 0.83% | 5.89% |
| 2019 | 0.55% | 0.75% | 1.54% | 0.42% | 1.50% | 0.31% | 0.69% | 1.77% | -0.74% | -0.07% | 0.21% | 0.30% | 7.45% |
| 2018 | -1.05% | -0.25% | 0.36% | 0.05% | 1.16% | 0.15% | 0.44% | 0.24% | -0.46% | -0.76% | 0.77% | 0.55% | 1.17% |
| 2017 | -0.05% | 0.56% | 0.45% | 0.75% | 1.65% | -0.37% | 0.63% | 0.72% | 0.02% | -0.08% | -0.27% | 1.24% | 5.36% |
| 2016 | 0.65% | -0.04% | 0.84% | 0.94% | 0.72% | 1.79% | -0.44% | 0.71% | -0.65% | -1.14% | -4.10% | 1.08% | 0.22% |
| 2015 | 1.47% | -0.71% | 0.28% | -0.74% | -0.33% | -0.23% | 0.48% | -0.20% | 0.59% | 0.58% | 0.97% | 1.16% | 3.34% |
| 2014 | 2.26% | 1.38% | 0.72% | 1.46% | 1.75% | 0.10% | 0.10% | 1.62% | 0.90% | 0.59% | -0.11% | 0.89% | 12.28% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of MKTBX is 17, meaning it’s performing worse than 83% of other mutual funds on our website when it comes to balancing risk and reward. Below is a breakdown of how it compares using common performance measures.
Risk-Adjusted Performance Indicators
The charts below present risk-adjusted performance metrics for MainStay MacKay Tax Free Bond Fund (MKTBX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
MainStay MacKay Tax Free Bond Fund provided a 3.32% dividend yield over the last twelve months, with an annual payout of $0.31 per share. The fund has been increasing its distributions for 3 consecutive years.
| Period | TTM | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.31 | $0.31 | $0.30 | $0.25 | $0.20 | $0.24 | $0.27 | $0.29 | $0.28 | $0.29 | $0.30 | $0.35 |
Dividend yield | 3.32% | 3.30% | 3.14% | 2.73% | 1.87% | 2.24% | 2.60% | 2.98% | 2.77% | 2.93% | 2.96% | 3.52% |
Monthly Dividends
The table displays the monthly dividend distributions for MainStay MacKay Tax Free Bond Fund. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2025 | $0.03 | $0.00 | $0.03 | ||||||||||
| 2024 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.31 |
| 2023 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.30 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.25 |
| 2021 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.01 | $0.01 | $0.02 | $0.02 | $0.20 |
| 2020 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.24 |
| 2019 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.27 |
| 2018 | $0.02 | $0.03 | $0.03 | $0.03 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.03 | $0.03 | $0.02 | $0.29 |
| 2017 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.28 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.29 |
| 2015 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.03 | $0.03 | $0.03 | $0.03 | $0.30 |
| 2014 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.35 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
Worst Drawdowns
The table below displays the maximum drawdowns of the MainStay MacKay Tax Free Bond Fund. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the MainStay MacKay Tax Free Bond Fund was 16.26%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
The current MainStay MacKay Tax Free Bond Fund drawdown is 4.84%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -16.26% | Jul 14, 2021 | 329 | Oct 25, 2022 | — | — | — |
| -13.18% | Jan 24, 2008 | 227 | Dec 16, 2008 | 179 | Sep 2, 2009 | 406 |
| -11.9% | Mar 10, 2020 | 9 | Mar 20, 2020 | 92 | Jul 31, 2020 | 101 |
| -10.06% | Mar 11, 1987 | 159 | Oct 19, 1987 | 74 | Jan 29, 1988 | 233 |
| -10.02% | Oct 19, 1993 | 286 | Nov 22, 1994 | 102 | Apr 13, 1995 | 388 |
Volatility
Volatility Chart
The current MainStay MacKay Tax Free Bond Fund volatility is 1.06%, representing the average percentage change in the investments's value, either up or down over the past month. The chart below shows the rolling one-month volatility.