MainStay MacKay California Tax Free Opportunities Fund (MSCVX)
The fund invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in municipal bonds, whose interest is, in the opinion of bond counsel for the issuers at the time of issuance, exempt from federal and California income taxes. It may invest up to 20% of its net assets in municipal bonds subject to the federal alternative minimum tax, and municipal bonds that pay interest that is subject to federal and California income taxes.
Fund Info
US56064B7120
Feb 27, 2013
$2,500
Expense Ratio
MSCVX features an expense ratio of 0.77%, falling within the medium range.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
The chart shows the growth of an initial investment of $10,000 in MainStay MacKay California Tax Free Opportunities 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 California Tax Free Opportunities Fund had a return of -0.11% year-to-date (YTD) and 2.43% in the last 12 months. Over the past 10 years, MainStay MacKay California Tax Free Opportunities Fund had an annualized return of 2.53%, while the S&P 500 had an annualized return of 11.29%, indicating that MainStay MacKay California Tax Free Opportunities Fund did not perform as well as the benchmark.
MSCVX
-0.11%
0.72%
0.43%
2.43%
0.38%
2.53%
^GSPC (Benchmark)
4.22%
2.22%
9.51%
22.46%
12.74%
11.29%
Monthly Returns
The table below presents the monthly returns of MSCVX, 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 | -0.11% | -0.11% | |||||||||||
| 2024 | 0.50% | 0.18% | -0.31% | -0.74% | 0.09% | 1.25% | 1.00% | 0.20% | 1.40% | -1.22% | 1.62% | -1.23% | 2.74% |
| 2023 | 3.32% | -2.30% | 1.34% | -0.10% | -0.26% | 0.82% | 0.29% | -1.06% | -3.17% | -1.24% | 6.88% | 2.40% | 6.73% |
| 2022 | -2.89% | -0.85% | -4.03% | -4.24% | 2.55% | -3.50% | 3.57% | -2.24% | -4.44% | -1.14% | 6.06% | -0.11% | -11.26% |
| 2021 | 0.54% | -1.72% | 0.93% | 1.08% | 0.36% | 0.53% | 0.63% | -0.28% | -0.82% | -0.36% | 1.28% | 0.10% | 2.25% |
| 2020 | 1.97% | 1.76% | -5.53% | -2.26% | 4.13% | 1.06% | 1.97% | -0.63% | -0.07% | -0.17% | 2.16% | 0.69% | 4.84% |
| 2019 | 0.42% | 0.53% | 1.89% | 0.42% | 1.56% | 0.32% | 0.78% | 2.18% | -0.71% | -0.07% | 0.20% | 0.40% | 8.18% |
| 2018 | -1.10% | -0.33% | 0.65% | -0.02% | 1.64% | 0.07% | 0.35% | 0.45% | -0.52% | -1.03% | 0.73% | 0.82% | 1.68% |
| 2017 | -0.13% | 0.68% | 0.48% | 0.87% | 1.94% | -0.02% | 0.75% | 0.75% | -0.32% | -0.05% | 0.05% | 1.22% | 6.38% |
| 2016 | 0.68% | 0.28% | 1.16% | 1.33% | 0.92% | 1.96% | -0.41% | 0.51% | -0.63% | -1.18% | -5.01% | 1.48% | 0.90% |
| 2015 | 1.98% | -1.08% | 0.39% | -0.40% | -0.01% | -0.30% | 0.61% | 0.00% | 0.82% | 0.81% | 0.99% | 1.28% | 5.16% |
| 2014 | 2.50% | 1.63% | 1.07% | 1.57% | 2.19% | 0.12% | 0.31% | 1.69% | 0.80% | 0.99% | 0.08% | 1.09% | 14.96% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
The current rank of MSCVX is 28, indicating average performance compared to other mutual funds on our website. Here’s 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 California Tax Free Opportunities Fund (MSCVX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
Dividends
Dividend History
MainStay MacKay California Tax Free Opportunities Fund provided a 3.55% dividend yield over the last twelve months, with an annual payout of $0.34 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 | $0.34 | $0.34 | $0.34 | $0.29 | $0.24 | $0.27 | $0.28 | $0.31 | $0.32 | $0.32 | $0.33 | $0.35 |
Dividend yield | 3.55% | 3.54% | 3.42% | 3.01% | 2.13% | 2.47% | 2.58% | 3.02% | 3.11% | 3.17% | 3.21% | 3.50% |
Monthly Dividends
The table displays the monthly dividend distributions for MainStay MacKay California Tax Free Opportunities 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 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.34 |
| 2023 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.34 |
| 2022 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.29 |
| 2021 | $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 |
| 2020 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.27 |
| 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 | $0.28 |
| 2018 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.02 | $0.31 |
| 2017 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
| 2016 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.02 | $0.02 | $0.03 | $0.03 | $0.32 |
| 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 | $0.33 |
| 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 California Tax Free Opportunities 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 California Tax Free Opportunities Fund was 16.98%, occurring on Oct 25, 2022. The portfolio has not yet recovered.
The current MainStay MacKay California Tax Free Opportunities Fund drawdown is 3.07%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -16.98% | Jul 22, 2021 | 323 | Oct 25, 2022 | — | — | — |
| -13.91% | Mar 2, 2020 | 15 | Mar 20, 2020 | 170 | Nov 19, 2020 | 185 |
| -11.28% | May 3, 2013 | 79 | Aug 23, 2013 | 183 | May 16, 2014 | 262 |
| -7.44% | Jul 7, 2016 | 104 | Dec 1, 2016 | 255 | Dec 6, 2017 | 359 |
| -3.46% | Jan 25, 2021 | 24 | Feb 25, 2021 | 95 | Jul 9, 2021 | 119 |
Volatility
Volatility Chart
The current MainStay MacKay California Tax Free Opportunities Fund volatility is 1.04%, 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.