Fund Evaluator:

NYLI Short Term Bond SIMPLE Class Overview

NYLI Short Term Bond SIMPLE Class (MIXMX) is an actively managed Taxable Bond Short-Term Bond fund. New York Life Investment Management LLC launched the fund in 2020.

The investment seeks current income consistent with capital preservation. The fund, under normal circumstances, invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in debt securities. Under normal circumstances, it invests at least 80% of net assets in investment grade quality bonds of various types as rated by a nationally recognized statistical rating organization ("NRSRO"), or if unrated, judged to be of comparable quality by NYL Investors LLC, the fund's Subadvisor. The fund may invest up to 20% of its net assets in bonds rated below investment grade by a NRSRO, commonly referred to as "high yield" or "junk" bonds.

About NYLI Short Term Bond SIMPLE Class (MIXMX)

There are 5 members of the management team with an average tenure of 0.42 years: Neil Moriarty (2026), Michael DePalma (2026), Lesya Paisley (2026), Cameron White (2026), Theodore Aronson (2026). 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 Bloomberg US Govt/Credit 1-3 Yr TR USD index with a weighting of 100%. NYLI Short Term Bond SIMPLE Class has 154 securities in its portfolio. The top 10 holdings constitute 35.5% 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 Short Term Bond SIMPLE Class is part of the Fixed Income global asset class and is within the Taxable Bond fund group. NYLI Short Term Bond SIMPLE Class has 11.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0%. There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 97.7% (86.3% domestic bond, 11.5% foreign bond and 0.0% convertible bond). NYLI Short Term Bond SIMPLE Class has 2.3% of the portfolio in cash.

Assets Under Management

The fund has $27 million in total assets, which is below the $904 million average for the Short-Term Bond 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.

MIXMX 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 Short Term Bond SIMPLE Class expense ratio is high compared to funds in the Short-Term Bond category. NYLI Short Term Bond SIMPLE Class has an expense ratio of 1.02%, which is 54% higher than its category average, making the fund expense ratio grade a F. 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 Short Term Bond SIMPLE Class has a portfolio turnover rate of 441%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 135% for the Short-Term Bond category.

Recently, in the month of July 2026, NYLI Short Term Bond SIMPLE Class returned 0.1%, which earned it a grade of B, as the Short-Term Bond category had an average return of -0.0%. 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 Short Term Bond SIMPLE Class has a trailing yield of 3.83%, which is below the 4.16% category average. The fund normally distributes its income monthly.

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 Short Term Bond SIMPLE Class Grades

Year to date, the fund has returned 0.6%, 0.3 percentage points worse than the category, which translates into a grade of D. The fund has returned 2.7% over the past year (grade of F), 4.2% over the past three years (grade of F) and 1.5% per year over the past five years (grade of F) and 1.6% per year over the past 10 years (grade of F).

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 Short Term Bond SIMPLE Class, including its riskiness, submit your email to unlock the rest of the article.