Fund Evaluator:
NYLI Candriam Emerging Markets Eq Cl I (MCYIX)
Follow This Fund
Best Performing in Diversified Emerging Mkts Over the Last Year
| 55.1% | Invesco Emerging Markets ex-China Y (GTDYX) |
| 51.1% | WCM Focused Emerging Mkts Ex Chn Inv (WCFEX) |
| 47.2% | Matthews Emerging Markets Sust Fut Inv (MASGX) |
| 46.5% | Lazard Emerging Markets Equity Instl (LZEMX) |
| 46.5% | LSV Emerging Markets Equity Inv (LVAZX) |
Fund Details
NYLI Candriam Emerging Markets Eq Cl I Overview
NYLI Candriam Emerging Markets Eq Cl I (MCYIX) is an actively managed International Equity Diversified Emerging Mkts fund. New York Life Investment Management LLC launched the fund in 2017.
The investment seeks long-term capital appreciation. Under normal circumstances, the fund invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in equity securities or equity-related securities issued by entities in, or tied economically to, emerging markets. These securities may be denominated in U.S. or non-U.S. currencies. The fund may also invest in ETFs to obtain this exposure or for other investment purposes. It may also invest in ADRs, Global Depositary Receipts and non-voting Depositary Receipts.
About NYLI Candriam Emerging Markets Eq Cl I (MCYIX)
There are 3 members of the management team with an average tenure of 7.56 years: Mohamed Lamine Saidi (2017), Paulo Salazar (2021), Philip Screve (2017). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: MSCI EM NR USD index with a weighting of 100%. NYLI Candriam Emerging Markets Eq Cl I has 130 securities in its portfolio. The top 10 holdings constitute 36.5% 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 Candriam Emerging Markets Eq Cl I is part of the Equity global asset class and is within the International Equity fund group. NYLI Candriam Emerging Markets Eq Cl I has 95.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.7%. There is 95.5% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 0.0% (0.0% domestic bond, 0.0% foreign bond and 0.0% convertible bond). NYLI Candriam Emerging Markets Eq Cl I has 3.8% of the portfolio in cash.
Assets Under Management
The fund has $14 million in total assets, which is below the $967 million average for the Diversified Emerging Mkts 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.
MCYIX 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 Candriam Emerging Markets Eq Cl I expense ratio is high compared to funds in the Diversified Emerging Mkts category. NYLI Candriam Emerging Markets Eq Cl I has an expense ratio of 1.01%, which is 13% lower than its category average, making the fund expense ratio grade a B. 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 Candriam Emerging Markets Eq Cl I has a portfolio turnover rate of 189%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 68% for the Diversified Emerging Mkts category.
Recently, in the month of July 2026, NYLI Candriam Emerging Markets Eq Cl I returned -6.9%, which earned it a grade of D, as the Diversified Emerging Mkts category had an average return of -4.9%. 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 Candriam Emerging Markets Eq Cl I has a trailing yield of 1.13%, which is below the 1.72% category average. The fund normally distributes its income annually.
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 Candriam Emerging Markets Eq Cl I Grades
Year to date, the fund has returned 21.7%, 2.7 percentage points better than the category, which translates into a grade of B. The fund has returned 44.3% over the past year (grade of A), 21.7% over the past three years (grade of A) and 6.2% per year over the past five years (grade of C).
For more mutual fund grades, analysis and screening tools to help your investment discovery, join AAII for a $2, full-access trial. Learn more here: https://invest.aaii.com/membership.
Otherwise, for more information about NYLI Candriam Emerging Markets Eq Cl I, including its riskiness, submit your email to unlock the rest of the article.
Gain access to exclusive AAII member-only content.
MCYIX Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MCYIX Return (NAV) | -6.9% | -0.2% | 44.3% | 21.7% | 6.2% | na |
| MCYIX Grade | D | F | A | A | C | na |
| +/- Category | -1.9% | -2.6% | 8.4% | 3.8% | -0.3% | na |
| Diversified Emerging Mkts Avg | -4.9% | 2.4% | 35.9% | 17.9% | 6.5% | 8.7% |
| MCYIX Tax Cost Ratio | na | na | 1.6% | 0.7% | 0.6% | na |
MCYIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MCYIX Return (NAV) | 21.7% | 35.6% | 12.4% | 7.4% | -27.9% | -3.7% | 36.4% | 22.3% | -21.1% | na | na |
| MCYIX Grade | B | B | A | F | F | D | A | C | F | na | na |
| +/- Category | 2.7% | 4.2% | 6.2% | -4.7% | -5.3% | -3.5% | 14.8% | 0.4% | -4.6% | na | na |
| Diversified Emerging Mkts Avg | 19.1% | 31.4% | 6.2% | 12.1% | -22.6% | -0.2% | 21.6% | 21.9% | -16.4% | 36.6% | 8.6% |
| Risk Measures | |
| Standard Deviation: | 18.2% |
| Total Risk Index: | 1.48 - High |
| Category Risk Index: | 1.09 - Above Average |
| Category Risk Grade: | D (80% Rank) |
| Beta: | 1.09 |
| R-Squared: | 69% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Growth |
| Bond Investment Style: | na |
| Yield: | 1.1% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | |
| Total Assets: | $124 Mil |
| Fund Total Assets: | $ 14 Mil |
| Share Class Type: | Inst |
| Portfolio Turnover: | 189% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 8.8 years | |||
| Average Tenure: 7.6 years | |||
| Managers (Year): Saidi Mohamed Lamine (2017), Screve Philip (2017), Salazar Paulo (2021) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 130 |
| % in Top 10 Holdings: | 36.5% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 95.5% |
Portfolio Allocation |
|
| Domestic Stock: | 0.7% |
| Foreign Stock: | 95.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 3.8% |
Purchase Information
| Fund Family: | New York Life Investment Management LLC |
| Phone Number: | 800-624-6782 |
| Website: | www.mainstayinvestments.com |
| Status: | Open |
| Inception Date: | November 15, 2017 |
| Min. Initial Purchase: | $1,000,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | Yes |
| Front Load Maximum: | 0.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | na |
Expenses and Fees | |
| Expense Ratio (%): | 1.01% ( Rating : High ) |
| Category Average Expense Ratio (%): | 1.16% |
| Share Class: | NYLI Candriam Emerging Markets Eq Cl R6 |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
