About MTBDX
NYLI MacKay Tax Free Bond Fund Class R6 is an open-ended mutual fund focused on providing current income that is exempt from regular federal income tax. The fund primarily invests at least 80% of its assets in investment-grade municipal bonds—securities issued by or on behalf of U.S. states, territories, and local governments—rated BBB- or higher by major rating agencies. Its portfolio features a long average maturity, typically spanning 10 to 30 years, positioning it within the muni national long category. Managed by New York Life Investment Management LLC and co-managed by MacKay Shields LLC, the fund employs a disciplined, fundamental analysis strategy that considers factors such as economic conditions, credit research, duration management, and sector allocation. With a broad diversification across more than 1,000 individual holdings, the fund emphasizes risk management and does not use leverage or take outsized interest rate bets. Its yield is structured to attract investors seeking tax-advantaged income, and fund performance is benchmarked against the Bloomberg Municipal Bond Index, reflecting its stature as a representative vehicle within the U.S. municipal bond market.
Fund Family New York Life Investment Management LLC
Category Muni National Long
Performance Rating Above Average
Risk Rating Below Average
Stock Exchange NASDAQ
Ticker Symbol MTBDX
Share Class Class R6
Index Bloomberg Municipal Bond TR
MTBDX had a total return of 4.49% in the past year, including dividends. Since the fund's
inception, the average annual return has been 5.11%.
