About MMHEX
NYLI MacKay High Yield Muni Bond Fund Class R6 is a municipal bond mutual fund focused on generating a high level of current income that is exempt from federal income taxes. Managed by a seasoned team leveraging extensive experience and strong relationships in the municipal bond market, the fund predominantly invests at least 80% of its assets in municipal bonds, including those rated in any category or unrated, with an emphasis on higher-yielding, non-investment-grade securities. Employing a relative value investment strategy, the fund utilizes rigorous credit analysis, yield curve positioning, and sector rotation, while maintaining a disciplined focus on risk management and avoiding leverage or overt interest rate bets. The portfolio is broadly diversified across issuers, sectors, and states, with a high allocation to U.S. municipal debt and a modest turnover rate. Monthly dividend distributions deliver consistent tax-advantaged income to investors, making this fund a prominent choice for those seeking income solutions within the municipal fixed-income sector. The Class R6 shares are typically structured for institutional platforms with a low expense ratio, reinforcing the fund’s appeal among sophisticated market participants.
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 MMHEX
Share Class Class R6
Index Bloomberg Municipal Bond TR
MMHEX had a total return of -2.07% in the past year, including dividends. Since the fund's
inception, the average annual return has been 1.74%.
