NYLI MacKay New York Muni Investor Class (MNOVX)
| Fund Assets | 1.45B |
| Expense Ratio | 1.74% |
| Min. Investment | $2,500 |
| Turnover | 16.00% |
| Dividend (ttm) | 0.35 |
| Dividend Yield | 3.49% |
| Dividend Growth | 0.35% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Sep 30, 2025 |
| Previous Close | 9.58 |
| YTD Return | 0.96% |
| 1-Year Return | 0.62% |
| 5-Year Return | 3.09% |
| 52-Week Low | 9.03 |
| 52-Week High | 9.82 |
| Beta (5Y) | 0.32 |
| Holdings | 452 |
| Inception Date | May 14, 2012 |
About MNOVX
NYLI MacKay New York Muni Fund is an open-end municipal bond mutual fund focused on generating current income that is generally exempt from federal and New York State income taxes, and in certain cases New York local taxes. Managed by New York Life Investment Management with subadviser MacKay Shields, the strategy applies a relative value approach that emphasizes fundamental credit analysis, yield-curve positioning, and sector rotation across New York municipal issuers. The portfolio targets investment-grade bonds while retaining flexibility to allocate across sectors such as essential services, transportation, housing, and revenue-backed authorities common to the New York municipal market. The team highlights risk management and avoids the use of leverage or explicit interest-rate bets, seeking consistent tax-exempt income within a disciplined framework. Distributions are declared on a regular schedule, reflecting the fund’s income-oriented mandate for investors seeking New York–specific tax-exempt exposure. As part of a long-tenured municipal platform, the fund plays a role in the market by channeling capital to state and local projects while offering investors diversified access to New York municipal credit.
Performance
MNOVX had a total return of 0.62% in the past year, including dividends. Since the fund's inception, the average annual return has been 2.67%.
Equivalent Funds
These are funds that follow the same index from the other major fund companies.
| Symbol | Provider | Name | Expense Ratio |
|---|---|---|---|
| VNYTX | Vanguard | Vanguard NY Long-Term Tax-Exempt Inv | 0.14% |
Top 10 Holdings
13.71% of assets| Name | Symbol | Weight |
|---|---|---|
| Triborough Bridge & Tunnel Authority, Series A | NY.TRBGEN 5.5 12.01.2059 | 2.25% |
| Dreyfus Government Cash Management Fund | DGCXX | 2.24% |
| Battery Park City Authority, Series A | NY.BTYGEN 5 11.01.2053 | 1.66% |
| New York State Dormitory Authority | NY.NYSHGR 5.5 10.01.2054 | 1.41% |
| New York City Housing Development Corp., Class F | NY.NYCMFH 5.25 12.15.2031 | 1.13% |
| New York State Housing Finance Agency, Series A | NY.NYSHSG 05.01.2042 | 1.09% |
| New York City Municipal Water Finance Authority, Series CC-1 | NY.NYCUTL 5.25 06.15.2054 | 1.08% |
| Puerto Rico Sales Tax Financing Corp., Series A-2 | PR.PRCGEN 4.78 07.01.2058 | 1.01% |
| Triborough Bridge & Tunnel Authority, Series A-1 | NY.TRBTRN 5.25 05.15.2059 | 0.93% |
| New York Transportation Development Corp. | NY.NYTTRN 5.5 06.30.2054 | 0.91% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Sep 30, 2025 | $0.02997 | Sep 30, 2025 |
| Aug 29, 2025 | $0.0297 | Aug 29, 2025 |
| Jul 31, 2025 | $0.02981 | Jul 31, 2025 |
| Jun 30, 2025 | $0.02918 | Jun 30, 2025 |
| May 30, 2025 | $0.02906 | May 30, 2025 |
| Apr 30, 2025 | $0.02812 | Apr 30, 2025 |