NYLI MacKay New York Muni Investor Class (MNOVX)
| Fund Assets | 1.38B |
| Expense Ratio | 1.74% |
| Min. Investment | $2,500 |
| Turnover | 16.00% |
| Dividend (ttm) | 0.35 |
| Dividend Yield | 3.62% |
| Dividend Growth | -0.49% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Jul 31, 2025 |
| Previous Close | 9.18 |
| YTD Return | -3.36% |
| 1-Year Return | -3.13% |
| 5-Year Return | -2.63% |
| 52-Week Low | 9.03 |
| 52-Week High | 9.82 |
| Beta (5Y) | 0.30 |
| Holdings | 451 |
| 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 -3.13% in the past year, including dividends. Since the fund's inception, the average annual return has been 2.37%.
Equivalent Funds
These are funds that follow the same index from the other major fund companies.
| Symbol | Provider | Name | Expense Ratio |
|---|---|---|---|
| VNYTX | Vanguard | Vanguard New York Long-Term Tax-Exempt Fund Investor Shares | 0.14% |
Top 10 Holdings
11.53% of assets| Name | Symbol | Weight |
|---|---|---|
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 5% | NY.NYCGEN 5 11.01.2036 | 1.47% |
| NEW YORK N Y CITY MUN WTR FIN AUTH WTR & SWR SYS REV 5.25% | NY.NYCUTL 5.25 06.15.2052 | 1.37% |
| PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.784% | PR.PRCGEN 4.78 07.01.2058 | 1.26% |
| NEW YORK TRANSN DEV CORP SPL FAC REV 5.5% | NY.NYTTRN 5.5 06.30.2054 | 1.20% |
| TRIBOROUGH BRDG & TUNL AUTH N Y REAL ESTATE TRANSFER TAX REV 5.5% | NY.TRBGEN 5.5 12.01.2059 | 1.14% |
| TRIBOROUGH BRDG & TUNL AUTH N Y REAL ESTATE TRANSFER TAX REV 5.25% | NY.TRBGEN 5.25 12.01.2054 | 1.13% |
| New York N Y City Hsg Dev Corp Multifamily Mtg Rev Bds 2024 Cl F 06/Dec/202 | n/a | 1.11% |
| NEW YORK ST HSG FIN AGY REV 3.57% | NY.NYSHSG 05.01.2042 | 1.05% |
| BATTERY PK CITY AUTH N Y REV 5% | NY.BTYGEN 5 11.01.2053 | 0.93% |
| TRIBOROUGH BRDG & TUNL AUTH N Y SALES TAX REV 5.25% | NY.TRBTRN 5.25 05.15.2059 | 0.86% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| 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 |
| Mar 31, 2025 | $0.02855 | Mar 31, 2025 |
| Feb 28, 2025 | $0.02584 | Feb 28, 2025 |