MainStay MacKay Short Term Municipal Fund (MSTIX)
The fund normally invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in municipal debt securities. It invests in an actively managed, diversified portfolio of tax-exempt municipal debt securities. The fund invests in investment grade securities. It may also invest up to 10% of its net assets in taxable municipal debt securities. Normally, the fund will have a dollar-weighted average maturity of three years or less.
Fund Info
US56063J1381
56063J138
Jan 1, 1991
$1,000,000
Expense Ratio
MSTIX has an expense ratio of 0.40%, placing it in the medium range.
Share Price Chart
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Compare to other instruments
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Performance
Performance Chart
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Returns By Period
MainStay MacKay Short Term Municipal Fund (MSTIX) returned 0.92% year-to-date (YTD) and 3.38% over the past 12 months. Over the past 10 years, MSTIX returned 1.43% annually, underperforming the S&P 500 benchmark at 10.78%.
MSTIX
0.92%
0.73%
1.06%
3.38%
1.42%
1.43%
^GSPC (Benchmark)
0.19%
9.00%
-1.55%
12.31%
15.59%
10.78%
Monthly Returns
The table below presents the monthly returns of MSTIX, 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 | 0.62% | 0.59% | -0.14% | -0.03% | -0.11% | 0.92% | |||||||
| 2024 | 0.35% | 0.05% | -0.22% | 0.02% | -0.03% | 0.54% | 1.22% | 0.54% | 0.79% | -0.56% | 0.32% | -0.09% | 2.97% |
| 2023 | 1.45% | -0.95% | 1.02% | -0.32% | -0.02% | 0.48% | 0.16% | -0.05% | -1.20% | 0.31% | 2.15% | 0.87% | 3.91% |
| 2022 | -1.13% | -0.36% | -1.29% | -1.06% | 0.83% | -0.33% | 1.07% | -1.03% | -1.48% | -0.28% | 1.62% | -0.00% | -3.44% |
| 2021 | 0.21% | -0.43% | 0.26% | 0.27% | 0.17% | 0.04% | 0.38% | -0.08% | -0.24% | -0.21% | 0.23% | -0.04% | 0.56% |
| 2020 | 0.45% | 0.36% | -1.10% | 0.04% | 1.08% | 0.43% | 0.53% | 0.10% | 0.09% | -0.12% | 0.40% | 0.29% | 2.55% |
| 2019 | 0.23% | 0.26% | 0.35% | 0.05% | 0.47% | 0.26% | 0.35% | 0.25% | -0.16% | 0.14% | 0.15% | 0.14% | 2.52% |
| 2018 | 0.01% | 0.13% | 0.12% | 0.12% | 0.44% | 0.23% | 0.21% | 0.12% | -0.08% | 0.03% | 0.23% | 0.24% | 1.81% |
| 2017 | 0.19% | 0.32% | 0.09% | 0.22% | 0.32% | -0.09% | 0.31% | 0.21% | 0.01% | -0.10% | -0.30% | 0.12% | 1.30% |
| 2016 | 0.59% | 0.17% | 0.07% | 0.17% | -0.03% | 0.41% | 0.08% | -0.02% | -0.12% | -0.02% | -0.54% | -0.01% | 0.75% |
| 2015 | 0.45% | -0.16% | 0.15% | 0.06% | -0.04% | 0.05% | 0.21% | 0.09% | 0.29% | 0.20% | -0.12% | -0.04% | 1.14% |
| 2014 | 0.25% | 0.07% | -0.06% | 0.07% | 0.16% | -0.04% | -0.04% | 0.16% | -0.18% | 0.16% | 0.15% | -0.26% | 0.44% |
Risk-Adjusted Performance
Risk-Adjusted Performance Rank
With an overall rank of 90, MSTIX is among the top 10% of 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 Short Term Municipal Fund (MSTIX) and compare them to a chosen benchmark (^GSPC). These indicators evaluate an investment's returns against its associated risks.
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Dividends
Dividend History
MainStay MacKay Short Term Municipal Fund provided a 3.44% dividend yield over the last twelve months, with an annual payout of $0.32 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 | $0.32 | $0.31 | $0.29 | $0.14 | $0.09 | $0.13 | $0.17 | $0.14 | $0.12 | $0.09 | $0.08 | $0.07 |
Dividend yield | 3.44% | 3.41% | 3.10% | 1.49% | 0.97% | 1.37% | 1.75% | 1.48% | 1.29% | 0.96% | 0.82% | 0.76% |
Monthly Dividends
The table displays the monthly dividend distributions for MainStay MacKay Short Term Municipal 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 | $0.02 | $0.03 | $0.03 | $0.00 | $0.11 | |||||||
| 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 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.03 | $0.02 | $0.02 | $0.02 | $0.03 | $0.29 |
| 2022 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.14 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.09 |
| 2020 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.13 |
| 2019 | $0.01 | $0.02 | $0.01 | $0.01 | $0.02 | $0.02 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.17 |
| 2018 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.14 |
| 2017 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.12 |
| 2016 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.09 |
| 2015 | $0.00 | $0.00 | $0.00 | $0.01 | $0.01 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.08 |
| 2014 | $0.00 | $0.01 | $0.00 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.00 | $0.01 | $0.00 | $0.02 | $0.07 |
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.
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Worst Drawdowns
The table below displays the maximum drawdowns of the MainStay MacKay Short Term Municipal 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 Short Term Municipal Fund was 7.43%, occurring on Jan 3, 2000. Recovery took 245 trading sessions.
The current MainStay MacKay Short Term Municipal Fund drawdown is 0.68%.
Depth | Start | To Bottom | Bottom | To Recover | End | Total |
|---|---|---|---|---|---|---|
| -7.43% | Dec 29, 1999 | 4 | Jan 3, 2000 | 245 | Dec 21, 2000 | 249 |
| -6.39% | Jan 2, 1996 | 73 | Apr 11, 1996 | 288 | May 20, 1997 | 361 |
| -5.51% | Aug 6, 2021 | 311 | Oct 25, 2022 | 301 | Jan 2, 2024 | 612 |
| -3.92% | Mar 10, 2020 | 9 | Mar 20, 2020 | 55 | Jun 9, 2020 | 64 |
| -2.15% | Dec 2, 2009 | 21 | Dec 31, 2009 | 162 | Aug 24, 2010 | 183 |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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