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NYLI Equity Allocation Class I Overview

NYLI Equity Allocation Class I (MGXIX) is an actively managed Allocation Global Aggressive Allocation fund. New York Life Investment Management LLC launched the fund in 2005.

The investment seeks long-term growth of capital. The fund is a "fund of funds" that seeks to achieve its investment objective by investing in mutual funds and ETFs managed by New York Life Investments or its affiliates. It seeks to achieve its investment objective by normally investing substantially all of its assets in underlying equity funds (normally within a range of 90% to 100%). The fund may invest approximately 25% (within a range of 15% to 35%) of its assets in underlying international equity funds. It may invest up to 10% of its assets in underlying fixed-income funds.

About NYLI Equity Allocation Class I (MGXIX)

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: Russell 3000 TR USD index with a weighting of 100% and S&P 500 (TR) (1970) index with a weighting of 100%. NYLI Equity Allocation Class I has 32 securities in its portfolio. The top 10 holdings constitute 70.0% 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 Equity Allocation Class I is part of the Allocation global asset class and is within the Allocation fund group. NYLI Equity Allocation Class I has 26.1% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 69.5%. There is 26.1% allocated to foreign stock, and 0.1% 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 Equity Allocation Class I has 4.4% of the portfolio in cash.

Assets Under Management

The fund has $1 million in total assets, which is below the $328 million average for the Global Aggressive 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.

MGXIX 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 Equity Allocation Class I expense ratio is above average compared to funds in the Global Aggressive Allocation category. NYLI Equity Allocation Class I has an expense ratio of 0.74%, which is 28% 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 Equity Allocation Class I has a portfolio turnover rate of 15%, indicating that holds its assets around 0.1 years. By way of comparison, the average portfolio turnover is 30% for the Global Aggressive Allocation category.

Recently, in the month of July 2026, NYLI Equity Allocation Class I returned -1.3%, which earned it a grade of D, as the Global Aggressive Allocation category had an average return of -0.9%. 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 Equity Allocation Class I has a trailing yield of 1.11%, which is below the 1.37% 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 Equity Allocation Class I Grades

Year to date, the fund has returned 11.4%, 0.9 percentage points better than the category, which translates into a grade of B. The fund has returned 20.3% over the past year (grade of C), 13.9% over the past three years (grade of F) and 7.7% per year over the past five years (grade of D) and 10.2% per year over the past 10 years (grade of D).

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