About MMHAX
NYLI MacKay High Yield Muni Bond Fund Class A is a mutual fund focused on delivering high levels of current income that is exempt from federal income taxes. Managed by New York Life Investment Management LLC, the fund primarily invests at least 80% of its assets in municipal bonds, aiming to capture yields from higher-risk segments while maintaining a disciplined approach to credit analysis, yield curve positioning, and sector rotation. The team managing the fund emphasizes risk management practices, avoiding leverage and significant interest rate bets, and boasts a long history of municipal bond expertise.
A notable feature of this fund is its capacity to invest in municipal securities that are rated below investment grade or unrated, and it may allocate up to 10% of assets to bonds in default or under bankruptcy proceedings. The fund pays monthly dividends, reflecting both interest income and distributions, and is designed for investors seeking tax-advantaged income. It holds a large, diversified portfolio with over 1,300 municipal securities and has established itself as a prominent player in the high-yield municipal bond market since its inception in 2010, serving as a tool for accessing potentially higher income within municipal fixed income sectors.
Fund Family New York Life Investment Management LLC
Category High Yield Muni
Performance Rating Above Average
Risk Rating Above Average
Stock Exchange Nasdaq
Ticker Symbol MMHAX
Share Class Class A
Index Bloomberg Municipal Bond TR
MMHAX had a total return of -2.27% in the past year, including dividends. Since the fund's
inception, the average annual return has been 4.54%.
