- ISIN
- US56064L3713
- Issuer
- MainStay
- Inception Date
- Jun 27, 2019
- Category
- Municipal Bonds
- Min. Investment
- $1,000
- Distribution Policy
- Distributing
- Asset Class
- Bond
Share Price Chart
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Performance
MTFEX Performance Chart
MainStay MacKay Strategic Municipal Allocation Fund (MTFEX) is up 1.6% since the beginning of the year. MTFEX is currently trading at $10 per share. Investors who bought $1,000 worth of MTFEX shares 5 years ago would now be looking at an investment worth $1,061.
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Returns By Period
MainStay MacKay Strategic Municipal Allocation Fund (MTFEX) has returned 1.60% so far this year and 6.54% over the past 12 months.
MainStay MacKay Strategic Municipal Allocation Fund
- 1D
- 0.10%
- 1M
- 1.35%
- YTD
- 1.60%
- 6M
- 2.00%
- 1Y
- 6.54%
- 3Y*
- 3.84%
- 5Y*
- 1.20%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
MTFEX Monthly Returns History
Based on dividend-adjusted daily data since Jun 28, 2019, MTFEX's average daily return is +0.01%, while the average monthly return is +0.19%. At this rate, an investment would double in approximately 30.4 years.
Historically, 61% of months were positive and 39% were negative. The best month was Nov 2023 with a return of +4.3%, while the worst month was Mar 2020 at -4.9%. The longest winning streak lasted 7 consecutive months, and the longest losing streak was 4 months.
On a daily basis, MTFEX closed higher 35% of trading days. The best single day was Mar 25, 2020 with a return of +3.5%, while the worst single day was Mar 12, 2020 at -2.8%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 1.01% | 1.19% | -2.19% | 1.02% | 0.39% | 0.21% | 1.60% | ||||||
| 2025 | 0.51% | 1.00% | -1.50% | -0.58% | 0.18% | 0.82% | -0.03% | 0.72% | 1.89% | 1.03% | 0.27% | 0.28% | 4.65% |
| 2024 | -0.02% | 0.18% | 0.08% | -0.86% | -0.12% | 1.36% | 0.72% | 0.80% | 0.80% | -1.16% | 1.23% | -0.96% | 2.02% |
| 2023 | 2.19% | -1.42% | 1.25% | -0.21% | -0.36% | 0.81% | 0.29% | -0.77% | -1.86% | -1.09% | 4.27% | 2.11% | 5.14% |
| 2022 | -2.19% | -0.67% | -2.68% | -2.26% | 0.75% | -1.64% | 2.51% | -1.69% | -3.19% | -0.42% | 4.01% | 0.38% | -7.11% |
| 2021 | 0.91% | -1.31% | 0.69% | 0.78% | 0.42% | 0.30% | 0.67% | -0.38% | -0.85% | -0.16% | 0.91% | 0.09% | 2.07% |
Benchmark Metrics
MainStay MacKay Strategic Municipal Allocation Fund has an annualized alpha of 1.67%, beta of 0.04, and R2 of 0.03 versus S&P 500 Index. Calculated based on daily prices since June 28, 2019.
- This fund participated in 21.61% of S&P 500 Index downside but only 13.88% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.04 may look defensive, but with R2 of 0.03 this fund is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this fund's risk.
- R2 of 0.03 means this fund moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 1.67%
- Beta
- 0.04
- R²
- 0.03
- Upside Capture
- 13.88%
- Downside Capture
- 21.61%
Expense Ratio
MTFEX has a high expense ratio of 0.97%, indicating above-average management fees.
Return for Risk
Risk / Return Rank
MTFEX ranks 73 for risk / return — better than 73% of mutual funds on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for MainStay MacKay Strategic Municipal Allocation Fund (MTFEX) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MTFEX | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.89 | ||
| Sortino ratioReturn per unit of downside risk | +1.90 | ||
| Omega ratioGain probability vs. loss probability | 1.81 | 1.37 | +0.44 |
| Calmar ratioReturn relative to maximum drawdown | 2.37 | 2.78 | -0.41 |
| Martin ratioReturn relative to average drawdown | 7.93 | 12.44 | -4.51 |
Dividends
Dividend History
MainStay MacKay Strategic Municipal Allocation Fund provided a 3.33% dividend yield over the last twelve months, with an annual payout of $0.32 per share.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 |
|---|---|---|---|---|---|---|---|---|
| Dividend | $0.32 | $0.32 | $0.33 | $0.26 | $0.22 | $0.24 | $0.18 | $0.18 |
Dividend yield | 3.33% | 3.33% | 3.48% | 2.74% | 2.30% | 2.36% | 1.74% | 1.83% |
Monthly Dividends
The table displays the monthly dividend distributions for MainStay MacKay Strategic Municipal Allocation 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.00 | $0.13 | ||||||
| 2025 | $0.03 | $0.02 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.32 |
| 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 | $0.33 |
| 2023 | $0.03 | $0.02 | $0.03 | $0.00 | $0.03 | $0.03 | $0.03 | $0.03 | $0.03 | $0.00 | $0.03 | $0.03 | $0.26 |
| 2022 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.02 | $0.02 | $0.02 | $0.02 | $0.02 | $0.05 | $0.22 |
| 2021 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.01 | $0.11 | $0.24 |
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 Strategic Municipal Allocation 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 Strategic Municipal Allocation Fund was 11.88%, occurring on Oct 26, 2022. Recovery took 483 trading sessions.
The current MainStay MacKay Strategic Municipal Allocation Fund drawdown is 0.60%.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -11.88%Oct 2022 | 1y 2mo | 1y 11mo | 3y 1moAug 2021 - Sep 2024 |
COVID crash2020 | -11.24%Mar 2020 | 17d | 4mo 19d | 5mo 6dMar 2020 - Aug 2020 |
2025 selloff2025 | -4.34%Apr 2025 | 1mo 7d | 4mo 29d | 6mo 6dMar 2025 - Sep 2025 |
2026 pullback2026 | -2.78%Mar 2026 | 25d | — | 3mo 23dMar 2026 - now |
2024 pullback2024 | -2.19%Dec 2024 | 10d | 2mo 10d | 2mo 20dDec 2024 - Feb 2025 |
Drawdown Indicators
| MTFEX | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -11.88% | -56.78% | +44.90% |
Max Drawdown (1Y)Largest decline over 1 year | -2.78% | -9.10% | +6.32% |
Max Drawdown (3Y)Largest decline over 3 years | -4.34% | -18.90% | +14.56% |
Max Drawdown (5Y)Largest decline over 5 years | -11.88% | -25.43% | +13.55% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | -0.60% | -1.80% | +1.20% |
Average DrawdownAverage peak-to-trough decline | -2.72% | -10.71% | +7.99% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.83% | 2.03% | -1.20% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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