Fund Evaluator:
NYLIM MacKay Strategic Bond Class R6 (MSYEX)
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Fund Details
NYLIM MacKay Strategic Bond Class R6 Overview
NYLIM MacKay Strategic Bond Class R6 (MSYEX) is an actively managed Taxable Bond Multisector Bond fund. New York Life Investment Management LLC launched the fund in 2018.
The investment seeks total return by investing primarily in domestic and foreign debt securities. The fund normally invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in a diversified portfolio of debt or debt-related securities. The average portfolio duration of the fund will normally vary from 0 to 7 years. The fund may invest in derivatives, such as futures, options, forward commitments and interest rate swap agreements to try to enhance returns or reduce the risk of loss by hedging certain of its holdings or manage duration. It may invest up to 25% of its total assets in swaps.
About NYLIM MacKay Strategic Bond Class R6 (MSYEX)
There are 5 members of the management team with an average tenure of 3.74 years: Neil Moriarty (2018), Michael DePalma (2023), Lesya Paisley (2022), Zach Aronson (2025), Cameron White (2025). Management tenure is more important for actively managed funds than passive index funds.
The fund has 1 primary benchmark: Bloomberg US Agg Bond TR USD index with a weighting of 100%. NYLIM MacKay Strategic Bond Class R6 has 726 securities in its portfolio. The top 10 holdings constitute 20.1% 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.
NYLIM MacKay Strategic Bond Class R6 is part of the Fixed Income global asset class and is within the Taxable Bond fund group. NYLIM MacKay Strategic Bond Class R6 has 18.9% 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 0.5% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 98.1% (79.2% domestic bond, 18.9% foreign bond and 0.0% convertible bond). NYLIM MacKay Strategic Bond Class R6 has 1.2% of the portfolio in cash.
Assets Under Management
The fund has $2 million in total assets, which is below the $1 billion average for the Multisector 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.
MSYEX 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 NYLIM MacKay Strategic Bond Class R6 expense ratio is above average compared to funds in the Multisector Bond category. NYLIM MacKay Strategic Bond Class R6 has an expense ratio of 0.62%, which is 34% 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. NYLIM MacKay Strategic Bond Class R6 has a portfolio turnover rate of 136%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 157% for the Multisector Bond category.
Recently, in the month of August 2026, NYLIM MacKay Strategic Bond Class R6 returned 0.5%, which earned it a grade of C, as the Multisector Bond category had an average return of 0.5%. 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.
NYLIM MacKay Strategic Bond Class R6 has a trailing yield of 5.61%, which is above the 5.31% 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.
NYLIM MacKay Strategic Bond Class R6 Grades
Year to date, the fund has returned 1.7%, 0.3 percentage points better than the category, which translates into a grade of B. The fund has returned 3.8% over the past year (grade of C), 7.3% over the past three years (grade of B) and 3.6% per year over the past five years (grade of A) and 3.8% per year over the past 10 years (grade of B).
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MSYEX Trailing NAV Total Returns Data as of 8/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| MSYEX Return (NAV) | 0.5% | 0.2% | 3.8% | 7.3% | 3.6% | 3.8% |
| MSYEX Grade | C | B | C | B | A | B |
| +/- Category | -0.0% | 0.1% | 0.2% | 0.7% | 1.2% | 0.4% |
| Multisector Bond Avg | 0.5% | 0.1% | 3.6% | 6.6% | 2.4% | 3.5% |
| MSYEX Tax Cost Ratio | na | na | 2.2% | 2.2% | 1.9% | na |
MSYEX Annual NAV Total ReturnsData as of 8/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| MSYEX Return (NAV) | 1.7% | 8.5% | 6.7% | 9.9% | -7.4% | 2.3% | 6.9% | 7.0% | -1.6% | 4.8% | 8.0% |
| MSYEX Grade | B | B | B | B | A | C | C | F | C | F | C |
| +/- Category | 0.3% | 0.4% | 1.0% | 1.5% | 2.7% | 0.1% | 0.7% | -3.3% | 0.3% | -1.8% | 0.5% |
| Multisector Bond Avg | 1.4% | 8.1% | 5.7% | 8.4% | -10.1% | 2.2% | 6.3% | 10.3% | -1.9% | 6.6% | 7.5% |
| Risk Measures | |
| Standard Deviation: | 4.3% |
| Total Risk Index: | 0.35 - Low |
| Category Risk Index: | 0.96 - Below Average |
| Category Risk Grade: | B (33% Rank) |
| Beta: | 0.73 |
| R-Squared: | 94% |
| Leveraged Fund: | No |
| Inverse Fund: | No |
| Portfolio Characteristics | |
| Equity Investment Style: | Small-Cap Value |
| Bond Investment Style: | na |
| Yield: | 5.6% |
| Dividend Distribution: | Monthly |
| Cap Gains Distribution: | |
| Total Assets: | $1801 Mil |
| Fund Total Assets: | $ 3 Mil |
| Share Class Type: | Retirement |
| Portfolio Turnover: | 136% |
Management Team
| Number of Managers: 5 | |||
| Longest Tenure: 7.9 years | |||
| Average Tenure: 3.7 years | |||
| Managers (Year): Moriarty Neil (2018), Paisley Lesya (2022), DePalma Michael (2023), Aronson Zach (2025), White Cameron (2025) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 726 |
| % in Top 10 Holdings: | 20.1% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 18.9% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.5% |
| Domestic Bond: | 79.2% |
| Foreign Bond: | 18.9% |
| Convertible Bond: | 0.0% |
| Other: | 0.2% |
| Cash: | 1.2% |
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, 2018 |
| Min. Initial Purchase: | $ 0 |
| 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 (%): | 0.62% ( Rating : Above Avg ) |
| Category Average Expense Ratio (%): | 0.94% |
| Share Class: | NYLIM MacKay Strategic Bond Class A |
| Min. Subsequent Purchase: | $ 0 |
| Min. Subsequent IRA Purchase: | $ 0 |
