Has aimed to provide competitive returns while seeking to manage volatility.
With bond yields near 10-year highs, it may be a good time to consider diversifying into agency MBS, ABS, CMBS, and corporate bonds.
Seeks diversified sources of alpha by recognizing value in misunderstood and underappreciated sectors
Why MSDIX Now?
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Morningstar Rating: Overall, based on the risk-adjusted returns from among 215 Bank Loan funds.
SECR
NYLI MacKay Securitized Income ETF
Class I
FIXED INCOME
Overall Morningstar Rating based on risk-adjusted returns from among 260 Muni National Intermediate funds, as of 03/31/25
MTFGX
NYLI MacKay Strategic Muni Allocation Fund
Class I
FIXED INCOME
Overall Morningstar Rating based on risk-adjusted returns from among 340 Multisector Bond funds, as of 03/31/25
MSDIX
NYLI MacKay Strategic Bond Fund
Class I
FIXED INCOME
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Class A Information
Class A Information
Finding Value in the Underappreciated
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The MainStay MacKay Short Duration High Income Fund (formerly MainStay MacKay Short Duration High Yield Fund) won the 2023 LSEG Lipper U.S. Award for consistent return in its category over 10 years.
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MDHIX has consistently delivered attractive returns with lower volatility
Seeks diversified sources of alpha by recognizing value in misunderstood and underappreciated sectors
Why MSDIX Now?
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MSDIX
NYLI MacKay Strategic Bond Fund
Class I
FIXED INCOME
Overall Morningstar Rating based on risk-adjusted returns from among 260 Muni National Intermediate funds, as of 03/31/25
MTFGX
NYLI MacKay Strategic Muni Allocation Fund
Class I
FIXED INCOME
Class A
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Overall Morningstar Rating based on risk-adjusted returns from among 260 Muni National Intermediate funds, as of 03/31/25
MTFGX
NYLI MacKay Strategic Muni Allocation Fund
Class I
FIXED INCOME
Class A
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A Compelling Case for Bonds in Today’s Environment
With bond yields near 10-year highs across credit markets, today’s environment presents a compelling opportunity to diversify into agency MBS, ABS, CMBS, and corporate bonds to enhance income potential.
MSDIX seeks diversified sources of alpha by recognizing value in misunderstood and underappreciated sectors across the entire fixed income universe.
Utilize the Entire Fixed Income Toolkit
MSDIX seeks diversified sources of alpha by recognizing value in misunderstood and underappreciated sectors across the entire fixed income universe.
Utilize the Entire Fixed Income Toolkit 1
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Has aimed to provide competitive returns while seeking to manage volatility
Seeks to capture elevated yield potential in sectors that may offer higher income than traditional core bonds
Seeks diversified sources of alpha by recognizing value in misunderstood and underappreciated sectors
Why MSDIX Now?
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Overall Morningstar Rating based on the risk-adjusted returns from among 496 Intermediate Core-Plus Bond funds, as of 01/31/2026
CPLB
NYLI MacKay Core Plus Bond ETF
FIXED INCOME
Overall Morningstar Rating based on the risk-adjusted returns from among 255 Muni National Intermediate funds, as of 11/30/2025
Class I
Overall Morningstar Rating based on the risk-adjusted returns from among 334 Multisector Bond funds, as of 1/31/2026
MSDIX
NYLI MacKay Strategic Bond Fund
Class I
FIXED INCOME
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Class A Information
Class A Information
Source: Bloomberg
MDHIX
NYLI MacKay Short Duration High Income Fund
Adapt to shifting bond markets with a flexible, multi-sector approach
Capture elevated yield potential in sectors offering higher income than traditional core bonds
Broaden exposure across fixed income by accessing sectors overlooked by core benchmarks
Why CPLB Now?
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MacKay Shields as of 11/30/25. ABS = Asset-Backed Securities; CMBS = Commercial Mortgage-Backed Securities; CLO = Collateralized Loan Obligations, Agg = Bloomberg U.S. Aggregate Bond Index.
ABS = Asset-Backed Securities; CMBS = Commercial Mortgage-Backed Securities. Portfolio holdings are subject to change without notice. Due to rounding, the sum of the items shown may not equal 100% or any expressed totals, as applicable.
Source: Bloomberg Municipal 3 Year (2 - 4 Year) Index
Yield to Worst (YTW) is the lowest yield a bond investor can earn if the bond is called or redeemed early, assuming no default.
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The MainStay MacKay Short Duration High Income Fund (formerly MainStay MacKay Short Duration High Yield Fund) won the 2023 LSEG Lipper U.S. Award for consistent return in its category over 10 years.
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Has aimed to provide competitive returns while seeking to manage volatility
With bond yields near 10-year highs, it may be a good time to consider diversifying into agency MBS, ABS, CMBS, and corporate bonds
Why MSDIX Now?
View Product Details
MDHIX
NYLI MacKay Short Duration High Income Fund
FIXED INCOME
Class A Information
Class I
Seeks diversified sources of alpha by recognizing value in misunderstood and underappreciated sectors
Utilize the Entire Fixed Income Toolkit 1
Overall Morningstar Rating based on the risk-adjusted returns from among 255 Muni National Intermediate funds, as of 11/30/2025
MTFGX
NYLI MacKay Strategic Muni Allocation Fund
FIXED INCOME
Class I
Class A Information
Good Upside Participation and Better Downside Protection
The NYLI Epoch Global Equity Yield Fund (EPSYX) consistently invests in companies that have committed to increasing their dividends, resulting in a diversified core holding of high-quality companies with lower volatility vs. the benchmark
The team’s philosophy and process, predicated upon margin-of-safety analysis, has driven higher levels of income per unit of duration.
Historically Delivered a Strong Level of Income Per Unit of Duration2
Short duration high yield has the potential to generate relatively high levels of income while adding diversification. Solid fundamentals, attractive prices, and a supportive technical backdrop make the asset class notable amongst fixed income.
Seeks Higher Quality Income Potential with Shorter Duration
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The LSEG Lipper Fund Awards, granted annually, highlight funds and fund companies that have excelled in delivering consistently strong risk-adjusted performance relative to their peers. The LSEG Lipper Fund Awards are based on the Lipper Leader for Consistent Return rating, which is a risk-adjusted performance measure calculated over 36, 60 and 120 months. The fund with the highest Lipper Leader for Consistent Return (Effective Return) value in each eligible classification wins the LSEG Lipper Fund Award. The NYLI MacKay Short Duration High Income Fund won the award in the Short High Yield category over 10 years from among 14 funds for the period ended 12/31/2024. For more information, see lipperfundawards.com.
LSEG Lipper Fund Awards, ©2025 LSEG. All rights reserved. Used under license. Although LSEG makes reasonable efforts to ensure the accuracy and reliability of the data contained herein, their accuracy is not guaranteed by LSEG Lipper.
Relies on "margin of safety" analysis to identify companies with thorough asset coverage and free cash flow
The asset class has demonstrated attractive risk-adjusted returns relative to traditional bond benchmarks during certain historical periods
Invests in short-duration high yield, an asset class that has delivered competitive returns versus core bonds, investment-grade corporates, and U.S. Treasuries over various market periods
Why MDHIX Now?
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Diversified Sources of Alpha
CPLB seeks to provide diversified sources of returns, utilizing the entire fixed income landscape to help enhance portfolio resilience and potentially improve risk adjusted returns.
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1 MDHIX yield is represented by SEC 30-Day Yield is based on net investment income for the 30-day period ended 11/30/25 divided by the offering price Per share on that date. Yields for other share classes will vary. Unsubsidized 30-Day Yield reflects what the yield would have been without the effect of waivers and/or reimbursements. Please note that there was no reimbursement for this time period Source: Morningstar, as of 11/30/25. Emerging Market Debt is represented by J.P. Morgan EMBI Global Diversified Index; High Yield is represented by ICE BofA U.S. High Yield Constrained Index; Core Bonds is represented by Bloomberg U.S. Aggregate Bond Index; U.S. IG Corporates is represented by ICE BofA U.S. Corporate Bond Index. Past performance is no guarantee of future results, which will vary. It is not possible to invest directly in an index.
NYLI MacKay Short Duration High Income
Click on the Fund Name, which includes the prospectus, investment objectives, performance, risk, and other essential information. Returns represent past performance, which is no guarantee of future results. Current performance may be lower or higher. Investment return and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. Visit www.newyorklifeinvestments.com for the most recent month-end performance.
FIXED INCOME
Morningstar, as of 11/30/25. Emerging Market Debt is represented by J.P. Morgan EMBI Global Diversified Index; High Yield is represented by ICE BofA U.S. High Yield Constrained Index; Core Bonds is represented by Bloomberg U.S. Aggregate Bond Index; U.S. IG Corporates is represented by ICE BofA U.S. Corporate Bond Index.
CPLB provides diversified sources of returns, utilizing the entire fixed income landscape to enhance portfolio resilience and improve risk adjusted returns.
IG – Investment Grade: Bonds issued by companies or governments with higher credit quality (typically rated BBB-/Baa3 or higher), offering lower default risk and generally lower yields.
HY – High Yield: Bonds issued by lower-rated borrowers (below BBB-/Baa3) that offer higher yields to compensate for greater credit risk; also known as “below investment grade” or “junk” bonds.
MBS – Mortgage-Backed Securities: Bonds backed by pools of residential or commercial mortgage loans, where investors receive payments derived from homeowners’ mortgage payments.
EMD – Emerging Markets Debt: Bonds issued by governments or corporations in developing economies, typically offering higher yields due to increased economic, political, and currency risks.
Agg – Bloomberg U.S. Aggregate Bond Index: A broad benchmark representing the U.S. investment-grade taxable bond market, including Treasuries, agency debt, mortgage-backed securities, and investment-grade corporate bonds.
CPLB is more diversified and credit-oriented, while the Agg is heavily concentrated in Treasuries and Agency MBS.