MainStay MacKay New York Tax Free Opportunities Fund (MNOVX) belongs to the Municipal Bonds category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with MNOVX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to MNOVX
MNOVX charges 0.76% annually. There are 352 mutual funds in the Municipal Bonds category with lower expense ratios, going as low as 0.01%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Western Asset SMASh Series TF Fund | 0.01% | — | Dec 2015 | MNOVX vs LSMSX | |
| Vanguard Tax-Managed Balanced Fund Admiral Shares | 0.05% | 12.30B | Sep 1994 | MNOVX vs VTMFX | |
| Nuveen Municipal Total Return Managed Accounts | 0.05% | — | May 2007 | MNOVX vs NMTRX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05% | — | Feb 2021 | MNOVX vs FHMIX | |
| Strategic Advisers Municipal Bond Fund | 0.06% | — | Jun 2021 | MNOVX vs FSMUX |
Best Risk-Adjusted Alternatives to MNOVX
MNOVX has a PortfoliosLab risk / return rank of 79. There are 81 mutual funds in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 100 | — | Apr 2022 | MNOVX vs DFABX | |
| abrdn Ultra Short Municipal Income Fund | 99 | — | Dec 2002 | MNOVX vs ATOIX | |
| DFA NY Municipal Bond Portfolio | 99 | — | Jun 2015 | MNOVX vs DNYMX | |
| DFA California Short Term Municipal Bond Portfolio | 99 | — | Apr 2007 | MNOVX vs DFCMX | |
| DFA Short Term Municipal Bond Portfolio | 99 | — | Aug 2002 | MNOVX vs DFSMX |
Top Performing MNOVX Alternatives (YTD)
MNOVX is at 2.75% YTD. There are 23 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 9.28%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen New York AMT Free Quality Municipal Income | 9.28% | — | Nov 2002 | MNOVX vs NRK | |
| Nuveen Municipal Income Fund, Inc. | 8.28% | — | Apr 1998 | MNOVX vs NMI | |
| AllianceBernstein National Municipal Income Fund | 7.53% | — | Nov 2001 | MNOVX vs AFB | |
| Nuveen Virginia Quality Municipal Income Fund | 6.33% | — | Mar 1993 | MNOVX vs NPV | |
| BlackRock MuniYield Michigan Quality Fund | 5.87% | — | Oct 1992 | MNOVX vs MIY |
Lowest Volatility Alternatives to MNOVX
MNOVX has 3.33% 1-year volatility. There are 421 mutual funds in the Municipal Bonds category with lower 1-year volatility, going as low as 0.57%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 0.57% | — | Apr 2022 | MNOVX vs DFABX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | MNOVX vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | MNOVX vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | MNOVX vs USMTX | |
| DFA Short Term Municipal Bond Portfolio | 0.61% | — | Aug 2002 | MNOVX vs DFSMX |
Lowest Drawdown Alternatives to MNOVX
MNOVX has a 1-year max drawdown of -2.99%. There are 332 mutual funds in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as 0.00%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| BlackRock Allocation Target Shares | 0.00% | — | May 2021 | MNOVX vs BATVX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | MNOVX vs ATOIX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | -0.10% | — | Dec 2017 | MNOVX vs APUSX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | MNOVX vs TFCYX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | MNOVX vs FHMIX |
Other Mutual Funds from MainStay
The 6 most viewed MainStay mutual funds shown here include MDHVX, MTFEX, MMHVX and span 5 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| MainStay MacKay Short Duration High Yield Fund | High Yield Bonds | 93 | 1.85% | — | Dec 2012 | MNOVX vs MDHVX | |
| MainStay MacKay Strategic Municipal Allocation Fun... | Municipal Bonds | 73 | 1.60% | — | Jun 2019 | MNOVX vs MTFEX | |
| MainStay MacKay High Yield Municipal Bond Fund | High Yield Muni | 76 | 3.14% | — | Mar 2010 | MNOVX vs MMHVX | |
| MainStay Candriam Emerging Markets Equity Fund | Emerging Markets Diversified | 92 | 35.11% | — | Nov 2017 | MNOVX vs MCYVX | |
| MainStay Epoch Capital Growth Fund | Global Equities | 29 | 7.56% | — | Jun 2016 | MNOVX vs MECVX | |
| MainStay MacKay California Tax Free Opportunities ... | Municipal Bonds | 71 | 1.89% | — | Feb 2013 | MNOVX vs MSCVX |
Often Compared With MNOVX
Investors most often compare MNOVX with MUJ, FXIEX, DCARX. These 8 comparison targets span 1 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| BlackRock MuniHoldings New Jersey Quality Fund | Municipal Bonds | 57 | 5.53% | — | Mar 1998 | MNOVX vs MUJ | |
| PIMCO Fixed Income SHares: Series TE | Municipal Bonds | 79 | 1.92% | — | Jun 2012 | MNOVX vs FXIEX | |
| DFA California Municipal Real Return Portfolio | Municipal Bonds | 95 | 1.84% | — | Oct 2017 | MNOVX vs DCARX | |
| DFA Municipal Real Return Portfolio | Municipal Bonds | 94 | 2.05% | — | Nov 2014 | MNOVX vs DMREX | |
| Blackrock 2037 Municipal Target Term Trust | Municipal Bonds | 8 | -0.27% | — | Oct 2022 | MNOVX vs BMN | |
| Strategic Advisers Tax-Sensitive Short Duration Fu... | Municipal Bonds | 97 | 0.77% | — | Dec 2017 | MNOVX vs FGNSX | |
| Fidelity Conservative Income Municipal Bond Fund I... | Municipal Bonds | 98 | 1.01% | — | Oct 2013 | MNOVX vs FMNDX | |
| BlackRock MuniYield Quality Fund | Municipal Bonds | 21 | 4.35% | — | Jul 1992 | MNOVX vs MQY |
Compare MNOVX with Any Fund or Stock
Compare MNOVX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair MNOVX with funds that move differently
MainStay MacKay New York Tax Free Opportunities Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to MNOVX.
Explore MNOVX Diversifiers