Fund Evaluator:

NYLI Epoch Capital Growth Class I Overview

NYLI Epoch Capital Growth Class I (MECFX) is an actively managed International Equity Global Large-Stock Growth fund. New York Life Investment Management LLC launched the fund in 2016.

The investment seeks long-term capital appreciation. The fund generally invests in a diversified portfolio consisting of equity securities of companies located throughout the world, including the U.S., that have a history of earning a high return on their invested capital relative to their cost of capital and that have positive growth in operating cash flow. It invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in equity securities of companies across all market capitalizations. The fund may invest up to 20% of its net assets in securities issued by companies in emerging markets as determined by the fund's Subadvisor.

About NYLI Epoch Capital Growth Class I (MECFX)

There are 4 members of the management team with an average tenure of 5.61 years: David Siino (2016), William Booth (2026), Lin Lin (2024), Steven Bleiberg (2016). Management tenure is more important for actively managed funds than passive index funds.

The fund has 1 primary benchmark: MSCI World NR USD index with a weighting of 100%. NYLI Epoch Capital Growth Class I has 117 securities in its portfolio. The top 10 holdings constitute 22.8% 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 Epoch Capital Growth Class I is part of the Equity global asset class and is within the International Equity fund group. NYLI Epoch Capital Growth Class I has 27.8% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 71.5%. There is 27.8% 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 Epoch Capital Growth Class I has 0.8% of the portfolio in cash.

Assets Under Management

The fund has $56 million in total assets, which is below the $988 million average for the Global Large-Stock Growth 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.

MECFX 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 Epoch Capital Growth Class I expense ratio is high compared to funds in the Global Large-Stock Growth category. NYLI Epoch Capital Growth Class I has an expense ratio of 0.90%, which is 19% 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 Epoch Capital Growth Class I has a portfolio turnover rate of 33%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 47% for the Global Large-Stock Growth category.

Recently, in the month of July 2026, NYLI Epoch Capital Growth Class I returned -2.0%, which earned it a grade of C, as the Global Large-Stock Growth category had an average return of -2.4%. 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 Epoch Capital Growth Class I has a trailing yield of 0.40%, which is above the 0.27% category average. The fund normally distributes its income annually and its capital gains 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 Epoch Capital Growth Class I Grades

Year to date, the fund has returned 7.1%, 1.0 percentage points better than the category, which translates into a grade of B. The fund has returned 14.6% over the past year (grade of B), 12.7% over the past three years (grade of C) and 8.5% per year over the past five years (grade of B) and 13.0% per year over the past 10 years (grade of B).

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