About MNODX
NYLI MacKay New York Muni Fund is a municipal bond mutual fund designed to provide investors with current income that is generally exempt from federal, New York state, and in some cases, New York local income taxes. The fund primarily invests in a diversified portfolio of high-quality municipal securities issued by New York governmental entities, focusing on sectors critical to public infrastructure and local development. Managed by a seasoned team employing a relative value strategy, the fund emphasizes rigorous credit analysis, yield curve positioning, and sector rotation to uncover compelling opportunities while maintaining a strong commitment to risk management. Notably, the fund does not utilize leverage or engage in speculative interest rate positioning. Its holdings span a range of municipal issuers, including water and sewer authorities, transportation agencies, housing finance bodies, and other vital public services. The fund plays an important role in the market by offering a tax-efficient income solution for investors—particularly those residing in New York—and contributes to the financing of essential public projects across the state. Its long tenure, disciplined approach, and cost-competitive structure further reinforce its significance within the municipal fixed income landscape.
Fund Family New York Life Investment Management LLC
Category Muni New York Long
Performance Rating Above Average
Risk Rating Average
Stock Exchange NASDAQ
Ticker Symbol MNODX
Share Class Class R6
Index Bloomberg New York TaxExempt Muni Bond TR
MNODX had a total return of 5.21% in the past year, including dividends. Since the fund's
inception, the average annual return has been 5.27%.
