Fund Evaluator:
NYLI WMC Value Investor Class (MSMIX)
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Fund Details
NYLI WMC Value Investor Class Overview
NYLI WMC Value Investor Class (MSMIX) is an actively managed U.S. Equity Large Value fund. New York Life Investment Management LLC launched the fund in 2008.
The investment seeks long-term appreciation of capital. The fund invests in equity securities issued by companies of any size or market capitalization range. While it does not limit its investments to issuers within a particular capitalization range, it generally invests in large capitalization companies. The fund may invest in securities of foreign issuers, including securities of emerging market country issuers.
About NYLI WMC Value Investor Class (MSMIX)
There are 3 members of the management team with an average tenure of 3.37 years: Adam Illfelder (2021), Betsy George (2024), Ravi Gill (2024). 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 Russell 1000 Value IR USD index with a weighting of 100%. NYLI WMC Value Investor Class has 68 securities in its portfolio. The top 10 holdings constitute 25.9% 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 WMC Value Investor Class is part of the Equity global asset class and is within the U.S. Equity fund group. NYLI WMC Value Investor Class has 6.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 92.6%. There is 6.5% 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 WMC Value Investor Class has 0.9% of the portfolio in cash.
Assets Under Management
The fund has $40 million in total assets, which is below the $1 billion average for the Large Value 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.
MSMIX 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 WMC Value Investor Class expense ratio is high compared to funds in the Large Value category. NYLI WMC Value Investor Class has an expense ratio of 1.23%, which is 33% 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 WMC Value Investor Class has a portfolio turnover rate of 43%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 62% for the Large Value category.
Recently, in the month of July 2026, NYLI WMC Value Investor Class returned 4.4%, which earned it a grade of A, as the Large Value category had an average return of 2.9%. 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 WMC Value Investor Class has a trailing yield of 1.00%, which is below the 1.20% 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 WMC Value Investor Class Grades
Year to date, the fund has returned 12.3%, 2.0 percentage points worse than the category, which translates into a grade of D. The fund has returned 22.3% over the past year (grade of C), 13.0% over the past three years (grade of F) and 9.3% per year over the past five years (grade of F) and 12.3% per year over the past 10 years (grade of B).
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MSMIX 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 |
|
| MSMIX Return (NAV) | 4.4% | 5.2% | 22.3% | 13.0% | 9.3% | 12.3% |
| MSMIX Grade | A | D | C | F | F | B |
| +/- Category | 1.5% | -1.0% | -1.5% | -2.6% | -1.6% | 1.1% |
| Large Value Avg | 2.9% | 6.2% | 23.8% | 15.7% | 10.9% | 11.3% |
| MSMIX Tax Cost Ratio | na | na | 2.1% | 1.5% | 3.7% | 2.7% |
MSMIX Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MSMIX Return (NAV) | 12.3% | 14.2% | 10.4% | 8.8% | -5.1% | 25.6% | 12.9% | 31.2% | -7.4% | 22.3% | 8.0% |
| MSMIX Grade | D | D | F | D | C | C | A | A | B | A | F |
| +/- Category | -2.0% | -1.0% | -3.7% | -3.1% | 1.0% | -0.1% | 9.1% | 5.5% | 1.0% | 5.8% | -6.6% |
| Large Value Avg | 14.3% | 15.2% | 14.1% | 11.8% | -6.0% | 25.8% | 3.8% | 25.6% | -8.5% | 16.4% | 14.6% |
| Risk Measures | |
| Standard Deviation: | 11.8% |
| Total Risk Index: | 0.96 - Average |
| Category Risk Index: | 0.98 - Below Average |
| Category Risk Grade: | B (40% Rank) |
| Beta: | 0.68 |
| R-Squared: | 58% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Large-Cap Value |
| Bond Investment Style: | na |
| Yield: | 1.0% |
| Dividend Distribution: | Annually |
| Cap Gains Distribution: | Annually |
| Total Assets: | $902 Mil |
| Fund Total Assets: | $ 41 Mil |
| Share Class Type: | Inv |
| Portfolio Turnover: | 43% |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 5.3 years | |||
| Average Tenure: 3.4 years | |||
| Managers (Year): Illfelder Adam (2021), George Betsy (2024), Gill Ravi (2024) | |||
Portfolio Composition (as of 6/30/26)
| # of Holdings: | 68 |
| % in Top 10 Holdings: | 25.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 6.5% |
Portfolio Allocation |
|
| Domestic Stock: | 92.6% |
| Foreign Stock: | 6.5% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 0.0% |
| Foreign Bond: | 0.0% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 0.9% |
Purchase Information
| Fund Family: | New York Life Investment Management LLC |
| Phone Number: | 800-624-6782 |
| Website: | www.mainstayinvestments.com |
| Status: | Open |
| Inception Date: | February 28, 2008 |
| Min. Initial Purchase: | $1,000 |
| Min. Initial IRA Purchase: | $ 0 |
| True No-Load: | No |
| Front Load Maximum: | 5.00% |
| Deferred Charge Maximum: | 0.00% |
| Redemption Charge Maximum: | 0.00% |
| 12b-1 Fee: | 0.25% |
Expenses and Fees | |
| Expense Ratio (%): | 1.23% ( Rating : High ) |
| Category Average Expense Ratio (%): | 0.93% |
| Share Class: | NYLI WMC Value Class I |
| Min. Subsequent Purchase: | $ 50 |
| Min. Subsequent IRA Purchase: | $ 0 |
