Fund Evaluator:

NYLI CBRE Global Infrastructure Class C Overview

NYLI CBRE Global Infrastructure Class C (VCRCX) is an actively managed Sector Equity Infrastructure fund. New York Life Investment Management LLC launched the fund in 2019.

The investment seeks total return. The fund invests at least 80% of its net assets (plus borrowings for investment purposes) in securities issued by infrastructure companies. The Sub-Adviser expects to invest primarily in equity securities of companies located in a number of different countries, including the United States. The fund invests primarily in common stock, but may also invest in other equity securities including preferred stocks, convertible securities, rights or warrants to buy common stocks, and depositary receipts with characteristics similar to common stock.

About NYLI CBRE Global Infrastructure Class C (VCRCX)

There are 4 members of the management team with an average tenure of 7.80 years: Jeremy Anagnos (2013), Daniel Foley (2019), Hinds Howard (2019), Joseph Smith (2021). Management tenure is more important for actively managed funds than passive index funds.

The fund has 2 primary benchmarks: MSCI World NR USD index with a weighting of 100% and FTSE Global Core Infra 50/50 NtTx NR USD index with a weighting of 100%. NYLI CBRE Global Infrastructure Class C has 58 securities in its portfolio. The top 10 holdings constitute 43.1% 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.

NYLI CBRE Global Infrastructure Class C is part of the Equity global asset class and is within the Sector Equity fund group. NYLI CBRE Global Infrastructure Class C has 43.7% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 55.5%. There is 43.7% 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 CBRE Global Infrastructure Class C has 0.8% of the portfolio in cash.

Assets Under Management

The fund has $12 million in total assets, which is below the $319 million average for the Infrastructure 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.

VCRCX 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 CBRE Global Infrastructure Class C expense ratio is high compared to funds in the Infrastructure category. NYLI CBRE Global Infrastructure Class C has an expense ratio of 2.08%, which is 75% 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 CBRE Global Infrastructure Class C has a portfolio turnover rate of 79%, indicating that holds its assets around 0.0 years. By way of comparison, the average portfolio turnover is 56% for the Infrastructure category.

Recently, in the month of July 2026, NYLI CBRE Global Infrastructure Class C returned -0.3%, which earned it a grade of D, as the Infrastructure category had an average return of -0.3%. 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 CBRE Global Infrastructure Class C has a trailing yield of 0.66%, which is below the 1.93% category average. The fund normally distributes its income quarterly.

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 CBRE Global Infrastructure Class C Grades

Year to date, the fund has returned 8.6%, 1.7 percentage points worse than the category, which translates into a grade of F. The fund has returned 12.1% over the past year (grade of F), 9.9% over the past three years (grade of F) and 5.7% per year over the past five years (grade of F) and 6.7% per year over the past 10 years (grade of D).

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