Fund Evaluator:

NYLI Conservative Allocation SIMPLE Cl Overview

NYLI Conservative Allocation SIMPLE Cl (MCKSX) is an actively managed Allocation Global Moderately Conservative Allocation fund. New York Life Investment Management LLC launched the fund in 2020.

The investment seeks current income and, secondarily, long-term growth of capital. The fund is a "fund of funds" that seeks to achieve its investment objective by investing primarily in mutual funds and ETFs managed by New York Life Investments or its affiliates. It seeks to achieve its investment objective by normally investing approximately 60% (within a range of 50% to 70%) of its assets in underlying fixed-income funds and approximately 40% (within a range of 30% to 50%) of its assets in underlying equity funds.

About NYLI Conservative Allocation SIMPLE Cl (MCKSX)

There are 3 members of the management team with an average tenure of 11.02 years: Migene Kim (2025), Amit Soni (2016), Jonathan Swaney (2005). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and S&P 500 (TR) (1970) index with a weighting of 100%. NYLI Conservative Allocation SIMPLE Cl has 37 securities in its portfolio. The top 10 holdings constitute 72.2% of the fund’s assets. The fund meets the SEC requirement of being classified as a diversified fund. The fund is not considered to have an ESG focus with its investment selection and management.

NYLI Conservative Allocation SIMPLE Cl is part of the Allocation global asset class and is within the Allocation fund group. NYLI Conservative Allocation SIMPLE Cl has 14.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 26.0%. There is 10.5% allocated to foreign stock, and 0.3% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 51.8% (48.2% domestic bond, 3.6% foreign bond and 0.0% convertible bond). NYLI Conservative Allocation SIMPLE Cl has 11.3% of the portfolio in cash.

Assets Under Management

The fund has $5 million in total assets, which is below the $304 million average for the Global Moderately Conservative Allocation category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.

MCKSX Performance and Fees

The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The NYLI Conservative Allocation SIMPLE Cl expense ratio is high compared to funds in the Global Moderately Conservative Allocation category. NYLI Conservative Allocation SIMPLE Cl has an expense ratio of 1.10%, which is 12% higher than its category average, making the fund expense ratio grade a D. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.

High portfolio turnover can translate to higher expenses and lower aftertax returns. NYLI Conservative Allocation SIMPLE Cl has a portfolio turnover rate of 14%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 50% for the Global Moderately Conservative Allocation category.

Recently, in the month of July 2026, NYLI Conservative Allocation SIMPLE Cl returned -1.2%, which earned it a grade of F, as the Global Moderately Conservative Allocation category had an average return of -0.5%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all funds in that category.

NYLI Conservative Allocation SIMPLE Cl has a trailing yield of 2.98%, which is below the 3.07% category average. The fund normally distributes its income quarterly.

It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.

NYLI Conservative Allocation SIMPLE Cl Grades

Year to date, the fund has returned 4.9%, 0.2 percentage points worse than the category, which translates into a grade of C. The fund has returned 10.1% over the past year (grade of D), 8.2% over the past three years (grade of F) and 3.5% per year over the past five years (grade of D) and 5.0% per year over the past 10 years (grade of D).

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