MainStay MacKay Strategic Municipal Allocation Fund (MTFEX) 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 MTFEX. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to MTFEX
MTFEX charges 0.97% annually. There are 439 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 | MTFEX vs LSMSX | |
| Nuveen Municipal Total Return Managed Accounts | 0.05% | — | May 2007 | MTFEX vs NMTRX | |
| Federated Hermes Conservative Municipal Microshort... | 0.05% | — | Feb 2021 | MTFEX vs FHMIX | |
| Strategic Advisers Municipal Bond Fund | 0.06% | — | Jun 2021 | MTFEX vs FSMUX | |
| Fidelity Municipal Bond Index Fund | 0.07% | 0.00 | Jul 2019 | MTFEX vs FMBIX |
Best Risk-Adjusted Alternatives to MTFEX
MTFEX has a PortfoliosLab risk / return rank of 73. There are 177 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 | MTFEX vs DFABX | |
| DFA NY Municipal Bond Portfolio | 99 | — | Jun 2015 | MTFEX vs DNYMX | |
| DFA California Short Term Municipal Bond Portfolio | 99 | — | Apr 2007 | MTFEX vs DFCMX | |
| DFA Short Term Municipal Bond Portfolio | 99 | — | Aug 2002 | MTFEX vs DFSMX | |
| abrdn Ultra Short Municipal Income Fund | 99 | — | Dec 2002 | MTFEX vs ATOIX |
Top Performing MTFEX Alternatives (YTD)
MTFEX is at 1.60% YTD. There are 219 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 11.65%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Municipal Income Fund, Inc. | 11.65% | — | Apr 1998 | MTFEX vs NMI | |
| Nuveen Virginia Quality Municipal Income Fund | 6.88% | — | Mar 1993 | MTFEX vs NPV | |
| Nuveen New York AMT Free Quality Municipal Income | 6.87% | — | Nov 2002 | MTFEX vs NRK | |
| AllianceBernstein National Municipal Income Fund | 6.20% | — | Nov 2001 | MTFEX vs AFB | |
| BlackRock MuniYield Michigan Quality Fund | 5.14% | — | Oct 1992 | MTFEX vs MIY |
Lowest Volatility Alternatives to MTFEX
MTFEX has 2.27% 1-year volatility. There are 146 mutual funds in the Municipal Bonds category with lower 1-year volatility, going as low as 0.56%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 0.56% | — | Apr 2022 | MTFEX vs DFABX | |
| DFA California Short Term Municipal Bond Portfolio | 0.59% | — | Apr 2007 | MTFEX vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | MTFEX vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | MTFEX vs USMTX | |
| DFA Short Term Municipal Bond Portfolio | 0.61% | — | Aug 2002 | MTFEX vs DFSMX |
Lowest Drawdown Alternatives to MTFEX
MTFEX has a 1-year max drawdown of -2.78%. There are 237 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 | MTFEX vs BATVX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | MTFEX vs ATOIX | |
| Cavanal Hill Ultra Short Tax-Free Income Fund | -0.10% | — | Dec 2017 | MTFEX vs APUSX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | MTFEX vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | MTFEX vs TFCYX |
Other Mutual Funds from MainStay
The 6 most viewed MainStay mutual funds shown here include MDHVX, MMHVX, MCYVX 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 | 1.75% | — | Dec 2012 | MTFEX vs MDHVX | |
| MainStay MacKay High Yield Municipal Bond Fund | High Yield Muni | 73 | 2.88% | — | Mar 2010 | MTFEX vs MMHVX | |
| MainStay Candriam Emerging Markets Equity Fund | Emerging Markets Diversified | 93 | 33.97% | — | Nov 2017 | MTFEX vs MCYVX | |
| MainStay Epoch Capital Growth Fund | Global Equities | 26 | 6.97% | — | Jun 2016 | MTFEX vs MECVX | |
| MainStay MacKay California Tax Free Opportunities ... | Municipal Bonds | 69 | 1.78% | — | Feb 2013 | MTFEX vs MSCVX | |
| MainStay MacKay New York Tax Free Opportunities Fu... | Municipal Bonds | 76 | 2.53% | — | May 2012 | MTFEX vs MNOVX |
Often Compared With MTFEX
Investors most often compare MTFEX with SCMTX, DMREX, BMN. These 9 comparison targets span 1 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| DWS Intermediate Tax-Free Fund | Municipal Bonds | 64 | 1.11% | — | Apr 1983 | MTFEX vs SCMTX | |
| DFA Municipal Real Return Portfolio | Municipal Bonds | 95 | 2.23% | — | Nov 2014 | MTFEX vs DMREX | |
| Blackrock 2037 Municipal Target Term Trust | Municipal Bonds | 14 | 0.83% | — | Oct 2022 | MTFEX vs BMN | |
| PIMCO Fixed Income SHares: Series TE | Municipal Bonds | 78 | 1.81% | — | Jun 2012 | MTFEX vs FXIEX | |
| Fidelity Conservative Income Municipal Bond Fund I... | Municipal Bonds | 98 | 1.01% | — | Oct 2013 | MTFEX vs FMNDX | |
| Nuveen Pennsylvania Quality Municipal Income | Municipal Bonds | — | — | — | Feb 1991 | MTFEX vs NQP | |
| Strategic Advisers Tax-Sensitive Short Duration Fu... | Municipal Bonds | 96 | 0.67% | — | Dec 2017 | MTFEX vs FGNSX | |
| BlackRock MuniYield Quality Fund | Municipal Bonds | 15 | 3.28% | — | Jul 1992 | MTFEX vs MQY | |
| BlackRock MuniHoldings California Quality Fund | Municipal Bonds | 23 | 4.06% | — | Feb 1998 | MTFEX vs MUC |
Compare MTFEX with Any Fund or Stock
Compare MTFEX with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair MTFEX with funds that move differently
MainStay MacKay Strategic Municipal Allocation Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to MTFEX.
Explore MTFEX Diversifiers