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From income generation to diversification and risk management, today's fixed-income markets require specialized knowledge. Our experienced investment teams combine deep sector expertise with the scale of a leading fixed-income platform to help advisors navigate changing market conditions and act with confidence.

in Fixed-Income AUM
across a broad range of sectors

Years of Experience

uncovering opportunities across 
 bond markets.

Highly Rated

Fixed-Income Solutions
rated 4 or 5 stars (asset-weighted)

   

   

SPECIALIZED WHERE IT MATTERS

Harness Deep Expertise Across the Bond Market

From income generation to diversification and risk management, today's fixed-income markets require specialized knowledge. Our experienced investment teams combine deep sector expertise with the scale of a leading fixed-income platform to help advisors navigate changing market conditions and act with confidence.

Covering the
Full Spectrum

Across Bond Markets
Spanning public and private fixed-income sectors worldwide

In Public Fixed Income AUM

Managing client assets across diverse fixed-income markets

Average Years of Portfolio Manager Experience

Navigating market cycles with disciplined fixed-income expertise

   

   

"We lean into our research to support a high conviction approach that considers the risks and total return profiles of every investment in order to deliver diversified sources of alpha to our clients."

Neil Moriarty

Neil Moriarty, Senior Managing Director, Co-Head of Global Fixed Income, MacKay Shields

   

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Muni solutions

Several Highly Rated Solutions from the Minds Behind Munis

MacKay Municipal Managers delivers a broad suite of municipal strategies available in multiple structures. Explore our latest insights and portfolio thinking at Muni360

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Featured Fixed-Income Insights

3 MIN READ
July 13, 2026
Global Fixed Income’s Top 5 Investment Ideas for 2026: Mid-Year Outlook
MacKay Shields Global Fixed Income team shares a mid-year update on their Top 5 Investment Ideas for 2026.
city skyscraper looking up to sunlight. 8 MIN READ
Perspectives July 27, 2026
MacKay Shields Fixed Income Quarterly Outlooks – 3Q26
MacKay Shields' latest outlooks examine how resilient growth, sticky inflation, geopolitical uncertainty, widening dispersion, and demand for income are shaping opportunities in the second half of 2026.
July 29, 2026
Navigating Volatility - Taxable Fixed Income Investment idea
Meaningful interest rate volatility has emerged in 2026, driven by renewed inflation concerns, continued deficit spending, and shifting Fed rate cut expectations.
July 30, 2026
What a Decade of Real Returns Reveals About Fixed Income
Inflation concerns, persistent deficits, and changing Fed expectations have increased interest rate volatility in 2026.
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    Morningstar Rating Risk Adjusted Returns As of 07/31/2026 Average Annual Total Returns As of 07/31/2026 As of 06/30/2026
    Symbol Name Asset Class Share Class Overall Rating Category Funds in Category YTD 1Y 3Y 5Y 10Y SI Incept. Date
    MTFCX NYLI MacKay Tax Free Bond Fund Fixed Income C Morning Star Rating Morning Star Rating Morning Star Rating Muni National Long 150 0.91 0.91 -0.08 -0.08 5.46 7.03 4.46 6.03 2.78 3.44 2.78 3.44 -0.13 0.34 -0.13 0.34 1.65 1.79 1.65 1.79 3.16 3.23 3.16 3.23 09/01/1998
    MTBAX NYLI MacKay Tax Free Bond Fund Fixed Income A Morning Star Rating Morning Star Rating Morning Star Rating Muni National Long 150 1.11 1.11 -1.93 -1.93 5.77 7.35 2.60 4.13 3.08 3.74 2.04 2.69 0.17 0.65 -0.75 -0.27 1.94 2.06 1.47 1.59 4.02 4.09 3.87 3.93 01/03/1995
    MKINX NYLI MacKay Tax Free Bond Fund Fixed Income IN Morning Star Rating Morning Star Rating Morning Star Rating Muni National Long 150 1.06 1.06 -1.46 -1.46 5.69 7.26 3.05 4.58 3.02 3.68 2.16 2.81 0.11 0.59 -0.70 -0.23 1.91 2.04 1.44 1.57 3.65 3.76 3.39 3.50 02/28/2008
    MTSPX NYLI MacKay Tax Free Bond Fund Fixed Income C2 Morning Star Rating Morning Star Rating Muni National Long 150 0.71 0.71 -0.28 -0.28 5.30 6.87 4.30 5.87 2.59 3.32 2.59 3.32 -0.28 0.21 -0.28 0.21 - - - - 0.48 0.81 0.48 0.81 08/31/2020
    MTBIX NYLI MacKay Tax Free Bond Fund Fixed Income I Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Muni National Long 150 1.26 1.26 - - 6.04 7.50 - - 3.34 4.00 - - 0.40 0.88 - - 2.18 2.31 - - 3.85 3.98 - - 12/21/2009
    MTBDX NYLI MacKay Tax Free Bond Fund Fixed Income R6 Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Muni National Long 150 1.19 1.19 - - 6.09 7.67 - - 3.36 4.09 - - 0.46 0.95 - - - - - - 1.72 2.02 - - 11/01/2019
    AZTAX NYLI MacKay Arizona Muni Fund Fixed Income A - Muni Single State Intermediate 103 0.80 0.80 -2.22 -2.22 4.71 6.32 1.57 3.13 - - - - - - - - - - - - 2.79 3.79 1.26 2.18 07/22/2024
    AZTCX NYLI MacKay Arizona Muni Fund Fixed Income C Morning Star Rating Morning Star Rating Muni Single State Intermediate 103 0.62 0.62 -0.37 -0.37 4.30 6.02 3.30 5.02 2.31 2.95 2.31 2.95 -0.33 0.14 -0.33 0.14 0.62 0.79 0.62 0.79 2.77 2.84 2.77 2.84 04/01/1996
    AZTYX NYLI MacKay Arizona Muni Fund Fixed Income I Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Muni Single State Intermediate 103 1.07 1.07 - - 4.97 6.48 - - 3.02 3.64 - - 0.49 0.93 - - 1.54 1.71 - - 3.84 3.90 - - 04/01/1996
    AZTFX NYLI MacKay Arizona Muni Fund Fixed Income Z Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Muni Single State Intermediate 103 0.85 0.85 -2.18 -2.18 4.78 6.30 1.64 3.11 2.85 3.47 1.81 2.43 0.33 0.79 -0.28 0.18 1.40 1.56 1.09 1.25 4.60 4.65 4.52 4.57 03/13/1986
    MNOVX NYLI MacKay New York Muni Fund Fixed Income IN Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Muni New York Long 76 1.63 1.63 -0.92 -0.92 7.45 8.88 4.77 6.15 3.34 4.20 2.48 3.33 0.05 0.67 -0.76 -0.15 1.90 2.07 1.43 1.60 2.96 3.14 2.63 2.80 05/14/2012
    MNOIX NYLI MacKay New York Muni Fund Fixed Income I Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Muni New York Long 76 1.81 1.81 - - 7.76 9.07 - - 3.63 4.42 - - 0.32 0.93 - - 2.18 2.34 - - 3.27 3.44 - - 05/14/2012
    MNOCX NYLI MacKay New York Muni Fund Fixed Income C Morning Star Rating Morning Star Rating Morning Star Rating Muni New York Long 76 1.47 1.47 0.47 0.47 7.19 8.61 6.19 7.61 3.09 3.91 3.09 3.91 -0.20 0.40 -0.20 0.40 1.64 1.81 1.64 1.81 2.70 2.87 2.70 2.87 05/14/2012
    MNOAX NYLI MacKay New York Muni Fund Fixed Income A Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Muni New York Long 76 1.75 1.75 -1.30 -1.30 7.49 8.92 4.27 5.65 3.41 4.20 2.37 3.15 0.07 0.68 -0.84 -0.25 1.92 2.09 1.45 1.62 3.01 3.18 2.68 2.85 05/14/2012
    MNODX NYLI MacKay New York Muni Fund Fixed Income R6 Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Muni New York Long 76 1.82 1.82 - - 7.78 9.21 - - 3.65 4.48 - - 0.34 0.95 - - - - - - 1.69 2.03 - - 11/01/2019
    MNOLX NYLI MacKay New York Muni Fund Fixed Income C2 Morning Star Rating Morning Star Rating Muni New York Long 76 1.37 1.37 0.38 0.38 7.03 8.45 6.03 7.45 2.97 3.76 2.97 3.76 -0.33 0.25 -0.33 0.25 - - - - 0.72 1.10 0.72 1.10 08/31/2020
    CLOO NYLI Investment Grade CLO ETF Fixed Income - - Securitized Bond - Focused 18 - - - - - - - - - - - - - - - - - - - - 1.39 0.99 1.56 1.12 05/06/2026
    CPLB NYLI MacKay Core Plus Bond ETF Fixed Income - Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Intermediate Core-Plus Bond 498 0.61 0.61 - - 3.45 4.02 3.56 4.05 5.30 5.75 5.32 5.83 0.44 0.86 0.42 0.86 - - - - 0.66 0.86 0.68 0.90 06/29/2021
    IQHI NYLI MacKay High Income ETF Fixed Income - Morning Star Rating Morning Star Rating Morning Star Rating High Yield Bond 573 2.91 2.91 - - 5.59 6.26 5.29 5.97 7.92 8.43 7.78 8.27 - - - - - - - - 8.71 8.95 8.64 8.88 10/25/2022
    MTFHX NYLI MacKay Strategic Muni Allocation Fund Fixed Income R6 Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Muni National Intermediate 256 1.04 1.04 - - 5.08 6.75 - - 3.63 4.32 - - 1.32 1.77 - - - - - - 2.34 2.60 - - 06/28/2019
    MTFGX NYLI MacKay Strategic Muni Allocation Fund Fixed Income I Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Muni National Intermediate 256 1.12 1.12 - - 5.04 6.71 - - 3.62 4.28 - - 1.30 1.73 - - - - - - 2.33 2.58 - - 06/28/2019
    MTFFX NYLI MacKay Strategic Muni Allocation Fund Fixed Income C Morning Star Rating Morning Star Rating Morning Star Rating Muni National Intermediate 256 0.78 0.78 -0.21 -0.21 4.48 6.14 3.48 5.14 3.02 3.71 3.02 3.71 0.68 1.12 0.68 1.12 - - - - 1.69 1.95 1.69 1.95 06/28/2019
    MTFEX NYLI MacKay Strategic Muni Allocation Fund Fixed Income IN Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Muni National Intermediate 256 0.94 0.94 -1.58 -1.58 4.73 6.29 2.12 3.63 3.31 3.93 2.45 3.06 0.96 1.40 0.14 0.58 - - - - 1.96 2.21 1.30 1.54 06/28/2019
    MTFDX NYLI MacKay Strategic Muni Allocation Fund Fixed Income A Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Muni National Intermediate 256 0.85 0.85 -2.17 -2.17 4.77 6.43 1.62 3.24 3.35 4.01 2.31 2.96 1.03 1.50 0.11 0.57 - - - - 2.09 2.35 1.43 1.68 06/28/2019
    MTFZX NYLI MacKay Strategic Muni Allocation Fund Fixed Income Z - Muni National Intermediate 256 1.02 1.02 -2.01 -2.01 4.87 6.54 1.73 3.34 - - - - - - - - - - - - 2.96 3.94 1.43 2.33 07/22/2024
    MTFMX NYLI MacKay Strategic Muni Allocation Fund Fixed Income C2 Morning Star Rating Morning Star Rating Morning Star Rating Muni National Intermediate 256 0.69 0.69 -0.30 -0.30 4.32 5.86 3.32 4.86 2.90 3.55 2.90 3.55 - - - - - - - - 2.96 3.48 2.96 3.48 12/13/2022
    MTMIX NYLI MacKay Total Return Bond Fund Fixed Income I Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Intermediate Core-Plus Bond 498 0.26 0.26 - - 3.21 4.08 - - 5.64 6.20 - - 0.44 0.89 - - 2.24 2.49 - - 4.85 4.89 - - 01/02/1991
    MTMCX NYLI MacKay Total Return Bond Fund Fixed Income C Morning Star Rating Intermediate Core-Plus Bond 498 -0.68 -0.68 -1.66 -1.66 1.75 2.60 0.77 1.61 4.16 4.67 4.16 4.67 -0.93 -0.49 -0.93 -0.49 0.94 1.19 0.94 1.19 2.47 2.54 2.47 2.54 01/02/2004
    MTMAX NYLI MacKay Total Return Bond Fund Fixed Income A Morning Star Rating Morning Star Rating Morning Star Rating Intermediate Core-Plus Bond 498 -0.07 -0.07 -4.57 -4.57 2.70 3.57 -1.92 -1.09 5.22 5.78 3.62 4.17 0.08 0.53 -0.83 -0.39 1.91 2.16 1.44 1.69 3.36 3.43 3.15 3.21 01/02/2004
    MTMNX NYLI MacKay Total Return Bond Fund Fixed Income IN Morning Star Rating Morning Star Rating Morning Star Rating Intermediate Core-Plus Bond 498 -0.24 -0.24 -4.23 -4.23 2.51 3.26 -1.59 -0.87 4.95 5.46 3.53 4.03 -0.19 0.25 -1.00 -0.57 1.70 1.94 1.24 1.47 3.08 3.16 2.82 2.90 02/28/2008
    MTRDX NYLI MacKay Total Return Bond Fund Fixed Income R6 Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Intermediate Core-Plus Bond 498 0.26 0.26 - - 3.10 3.97 - - 5.64 6.16 - - 0.45 0.90 - - 2.28 2.52 - - 2.43 2.56 - - 12/29/2014
    MTMSX NYLI MacKay Total Return Bond Fund Fixed Income SI Morning Star Rating Morning Star Rating Morning Star Rating Intermediate Core-Plus Bond 498 -0.17 -0.17 - - 2.65 3.38 - - 5.04 5.59 - - -0.19 0.25 - - - - - - 0.14 0.36 - - 08/31/2020
    MSTIX NYLI MacKay Short Term Muni Fund Fixed Income I Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Muni National Short 205 1.35 1.35 - - 2.83 3.74 - - 3.57 3.75 - - 1.68 1.83 - - 1.66 1.71 - - 3.38 3.40 - - 01/02/1991
    MSTAX NYLI MacKay Short Term Muni Fund Fixed Income A Morning Star Rating Morning Star Rating Morning Star Rating Muni National Short 205 1.07 1.07 0.06 0.06 2.45 3.46 1.42 2.42 3.28 3.47 2.94 3.12 1.40 1.53 1.20 1.33 1.38 1.43 1.28 1.32 1.75 1.78 1.62 1.64 01/02/2004
    MYTBX NYLI MacKay Short Term Muni Fund Fixed Income IN Morning Star Rating Morning Star Rating Muni National Short 205 0.97 0.97 0.47 0.47 2.11 3.12 1.60 2.61 2.92 3.17 2.74 3.00 1.06 1.21 0.95 1.11 1.01 1.07 0.91 0.97 1.09 1.12 0.92 0.95 02/28/2008
    MSTEX NYLI MacKay Short Term Muni Fund Fixed Income R6 Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Muni National Short 205 1.25 1.25 - - 2.73 3.86 - - 3.54 3.80 - - - - - - - - - - 2.99 3.17 - - 05/02/2022
    MSTUX NYLI MacKay Short Term Muni Fund Fixed Income A2 Morning Star Rating Morning Star Rating Morning Star Rating Muni National Short 205 1.07 1.07 -0.95 -0.95 2.44 3.45 0.39 1.38 3.28 3.46 2.59 2.77 1.40 1.53 0.99 1.12 - - - - 1.41 1.50 1.06 1.15 09/30/2020
    MMHIX NYLI MacKay High Yield Muni Bond Fund Fixed Income I Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating High Yield Muni 167 2.34 2.34 - - 8.65 9.61 - - 4.64 5.59 - - 0.71 1.36 - - 3.13 3.36 - - 5.43 5.60 - - 03/31/2010
    MMHDX NYLI MacKay High Yield Muni Bond Fund Fixed Income C Morning Star Rating Morning Star Rating High Yield Muni 167 1.78 1.78 0.78 0.78 7.58 8.43 6.58 7.43 3.60 4.51 3.60 4.51 -0.31 0.32 -0.31 0.32 2.09 2.31 2.09 2.31 4.37 4.53 4.37 4.53 03/31/2010
    MMHAX NYLI MacKay High Yield Muni Bond Fund Fixed Income A Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating High Yield Muni 167 2.26 2.26 -0.80 -0.80 8.38 9.24 5.13 5.97 4.39 5.33 3.33 4.27 0.46 1.09 -0.46 0.16 2.87 3.09 2.40 2.62 5.18 5.34 4.88 5.04 03/31/2010
    MMHVX NYLI MacKay High Yield Muni Bond Fund Fixed Income IN Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating High Yield Muni 167 2.17 2.17 -0.39 -0.39 8.47 9.33 5.76 6.59 4.37 5.32 3.49 4.43 0.44 1.09 -0.37 0.27 2.87 3.08 2.39 2.61 5.15 5.31 4.86 5.01 03/31/2010
    MMHEX NYLI MacKay High Yield Muni Bond Fund Fixed Income R6 Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating High Yield Muni 167 2.46 2.46 - - 8.81 9.67 - - 4.70 5.65 - - 0.77 1.40 - - - - - - 2.41 2.75 - - 11/01/2019
    MMSD NYLI MacKay Muni Short Duration ETF Fixed Income - - Muni National Short 205 1.61 1.61 - - 3.23 4.21 3.01 4.16 - - - - - - - - - - - - 4.12 4.75 3.98 4.76 05/06/2025
    MMMA NYLI MacKay Muni Allocation ETF Fixed Income - - Muni National Long 150 2.63 2.63 - - - - - - - - - - - - - - - - - - 2.68 4.22 2.86 4.34 12/16/2025
    MMD NYLI MacKay DefinedTerm Muni Opportunities Fund Fixed Income - Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Muni National Long 150 1.56 1.56 3.92 3.92 8.48 9.19 7.63 10.18 2.66 3.32 0.57 1.54 -0.81 -0.29 -3.31 -2.27 2.48 2.64 2.04 2.27 4.38 4.53 3.61 3.88 06/26/2012
    MYHCX NYLI MacKay High Yield Corporate Bond Fund Fixed Income C Morning Star Rating Morning Star Rating High Yield Bond 573 1.43 1.43 0.44 0.44 3.03 3.68 2.05 2.70 5.56 6.11 5.56 6.11 2.64 2.72 2.64 2.72 3.89 4.17 3.89 4.17 5.43 5.46 5.43 5.46 09/01/1998
    MHCAX NYLI MacKay High Yield Corporate Bond Fund Fixed Income A Morning Star Rating Morning Star Rating Morning Star Rating High Yield Bond 573 2.19 2.19 -2.41 -2.41 4.01 4.46 -0.67 -0.24 6.54 7.09 4.91 5.46 3.56 3.67 2.61 2.72 4.80 5.08 4.32 4.59 6.92 6.95 6.77 6.80 01/03/1995
    MHHIX NYLI MacKay High Yield Corporate Bond Fund Fixed Income IN Morning Star Rating Morning Star Rating Morning Star Rating High Yield Bond 573 1.85 1.85 -2.22 -2.22 3.77 4.41 -0.38 0.23 6.35 6.90 4.91 5.45 3.41 3.52 2.57 2.67 4.69 4.96 4.20 4.48 5.64 5.68 5.38 5.42 02/28/2008
    MHYIX NYLI MacKay High Yield Corporate Bond Fund Fixed Income I Morning Star Rating Morning Star Rating Morning Star Rating High Yield Bond 573 2.34 2.34 - - 4.07 4.72 - - 6.80 7.35 - - 3.82 3.93 - - 5.05 5.33 - - 6.08 6.12 - - 01/02/2004
    MHYRX NYLI MacKay High Yield Corporate Bond Fund Fixed Income R2 Morning Star Rating Morning Star Rating Morning Star Rating High Yield Bond 573 2.13 2.13 - - 3.71 4.56 - - 6.43 7.05 - - 3.45 3.60 - - 4.68 4.97 - - 5.55 5.61 - - 05/01/2008
    MHHSX NYLI MacKay High Yield Corporate Bond Fund Fixed Income SI Morning Star Rating Morning Star Rating High Yield Bond 573 1.86 1.86 - - 3.59 4.43 - - 6.27 6.88 - - 3.28 3.42 - - - - - - 4.09 4.24 - - 08/31/2020
    MHYTX NYLI MacKay High Yield Corporate Bond Fund Fixed Income R3 Morning Star Rating Morning Star Rating High Yield Bond 573 1.79 1.79 - - 3.45 4.31 - - 6.11 6.73 - - 3.20 3.34 - - 4.43 4.72 - - 5.38 5.48 - - 02/29/2016
    MHYSX NYLI MacKay High Yield Corporate Bond Fund Fixed Income R6 Morning Star Rating Morning Star Rating Morning Star Rating High Yield Bond 573 2.24 2.24 - - 4.23 5.09 - - 6.92 7.54 - - 3.95 4.10 - - 5.20 5.50 - - 5.06 5.13 - - 06/17/2013
    MDHIX NYLI MacKay Short Duration High Income Fund Fixed Income I Morning Star Rating Morning Star Rating Morning Star Rating High Yield Bond 573 2.52 2.52 - - 4.50 5.03 - - 6.51 6.93 - - 4.66 4.67 - - 4.77 4.97 - - 4.68 4.72 - - 12/17/2012
    MDHCX NYLI MacKay Short Duration High Income Fund Fixed Income C Morning Star Rating Morning Star Rating High Yield Bond 573 1.93 1.93 0.94 0.94 3.46 3.98 2.47 2.99 5.41 5.82 5.41 5.82 3.56 3.59 3.56 3.59 3.66 3.85 3.66 3.85 3.57 3.61 3.57 3.61 12/17/2012
    MDHAX NYLI MacKay Short Duration High Income Fund Fixed Income A Morning Star Rating Morning Star Rating Morning Star Rating High Yield Bond 573 2.38 2.38 -0.69 -0.69 4.26 4.78 1.13 1.64 6.23 6.65 5.15 5.57 4.39 4.40 3.76 3.77 4.50 4.70 4.18 4.38 4.42 4.47 4.19 4.23 12/17/2012
    MDHVX NYLI MacKay Short Duration High Income Fund Fixed Income IN Morning Star Rating Morning Star Rating Morning Star Rating High Yield Bond 573 2.37 2.37 -0.19 -0.19 4.23 4.76 1.63 2.14 6.22 6.64 5.33 5.74 4.35 4.36 3.82 3.83 4.45 4.64 4.13 4.32 4.34 4.38 4.11 4.15 12/17/2012
    MXFIX NYLI Floating Rate Fund Fixed Income I Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Bank Loan 199 2.24 2.24 - - 3.64 3.70 - - 6.76 6.93 - - 5.52 5.36 - - 4.72 4.79 - - 4.25 4.24 - - 05/03/2004
    MXFCX NYLI Floating Rate Fund Fixed Income C Morning Star Rating Morning Star Rating Bank Loan 199 1.50 1.50 0.52 0.52 2.45 2.51 1.48 1.54 5.50 5.71 5.50 5.71 4.34 4.18 4.34 4.18 3.60 3.67 3.60 3.67 3.16 3.14 3.16 3.14 05/03/2004
    MXFAX NYLI Floating Rate Fund Fixed Income A Morning Star Rating Morning Star Rating Morning Star Rating Bank Loan 199 2.08 2.08 -0.98 -0.98 3.38 3.44 0.28 0.33 6.49 6.66 5.41 5.58 5.28 5.10 4.64 4.46 4.46 4.53 4.14 4.21 3.99 3.98 3.85 3.83 05/03/2004
    MXFNX NYLI Floating Rate Fund Fixed Income IN Morning Star Rating Morning Star Rating Morning Star Rating Bank Loan 199 2.10 2.10 -0.46 -0.46 3.22 3.28 0.64 0.70 6.33 6.50 5.44 5.61 5.12 4.97 4.59 4.44 4.38 4.45 4.07 4.14 4.28 4.26 4.11 4.09 02/28/2008
    MXFEX NYLI Floating Rate Fund Fixed Income R6 Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Bank Loan 199 2.29 2.29 - - 3.71 3.77 - - 6.79 7.00 - - 5.60 5.45 - - - - - - 5.00 4.97 - - 02/28/2019
    MXFMX NYLI Floating Rate Fund Fixed Income SI Morning Star Rating Morning Star Rating Morning Star Rating Bank Loan 199 1.93 1.93 - - 3.14 3.20 - - 6.22 6.40 - - 4.96 4.80 - - - - - - 5.10 5.07 - - 08/31/2020
    UTAHX NYLI MacKay Utah Muni Fund Fixed Income Z Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Muni Single State Intermediate 103 1.34 1.34 -1.70 -1.70 5.46 6.99 2.29 3.78 3.01 3.57 1.97 2.53 0.40 0.84 -0.21 0.22 1.39 1.54 1.08 1.23 4.04 4.10 3.95 4.01 07/24/1992
    UTAYX NYLI MacKay Utah Muni Fund Fixed Income I Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Muni Single State Intermediate 103 1.49 1.49 - - 5.70 7.22 - - 3.24 3.84 - - 0.62 1.08 - - 1.60 1.75 - - 3.99 4.05 - - 05/21/1996
    UTACX NYLI MacKay Utah Muni Fund Fixed Income C Morning Star Rating Morning Star Rating Muni Single State Intermediate 103 1.15 1.15 0.16 0.16 5.14 6.66 4.14 5.66 2.53 3.08 2.53 3.08 -0.20 0.23 -0.20 0.23 0.69 0.84 0.69 0.84 2.94 3.00 2.94 3.00 05/21/1996
    UTAVX NYLI MacKay Utah Muni Fund Fixed Income A - Muni Single State Intermediate 103 1.34 1.34 -1.70 -1.70 5.45 6.98 2.29 3.77 - - - - - - - - - - - - 3.11 4.07 1.57 2.46 07/22/2024
    MMCA NYLI MacKay California Muni Intermediate ETF Fixed Income - Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Muni California Intermediate 50 0.49 0.49 - - 3.89 6.04 3.98 6.04 3.48 4.15 3.50 4.19 - - - - - - - - -0.10 0.28 -0.09 0.31 12/21/2021
    MSICX NYLI MacKay Strategic Bond Fund Fixed Income C Morning Star Rating Morning Star Rating Multisector Bond 346 0.82 0.82 -0.16 -0.16 3.37 3.93 2.38 2.94 5.66 6.17 5.66 6.17 2.21 2.39 2.21 2.39 2.70 2.99 2.70 2.99 3.91 3.95 3.91 3.95 09/01/1998
    MASAX NYLI MacKay Strategic Bond Fund Fixed Income A Morning Star Rating Morning Star Rating Morning Star Rating Multisector Bond 346 1.51 1.51 -3.06 -3.06 4.35 4.91 -0.35 0.19 6.69 7.20 5.07 5.57 3.20 3.38 2.26 2.43 3.60 3.89 3.12 3.41 4.81 4.84 4.65 4.68 02/28/1997
    MSDIX NYLI MacKay Strategic Bond Fund Fixed Income I Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Multisector Bond 346 1.66 1.66 - - 4.61 5.29 - - 6.99 7.54 - - 3.52 3.72 - - 3.90 4.19 - - 4.68 4.73 - - 01/02/2004
    MSYDX NYLI MacKay Strategic Bond Fund Fixed Income IN Morning Star Rating Morning Star Rating Morning Star Rating Multisector Bond 346 1.46 1.46 -2.59 -2.59 4.17 4.72 0.00 0.53 6.45 6.95 5.01 5.51 3.00 3.18 2.16 2.34 3.48 3.77 3.00 3.29 4.13 4.19 3.87 3.92 02/28/2008
    MSYEX NYLI MacKay Strategic Bond Fund Fixed Income R6 Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Multisector Bond 346 1.70 1.70 - - 4.69 5.37 - - 7.04 7.63 - - 3.57 3.77 - - - - - - 3.89 4.01 - - 02/28/2018
    SECR NYLI MacKay Securitized Income ETF Fixed Income - - Securitized Bond - Diversified 88 0.27 0.27 - - 3.44 3.78 3.26 3.78 5.29 5.71 - - 0.89 1.22 - - - - - - 5.86 6.64 5.80 6.68 05/31/2024
    MCOIX NYLI MacKay California Muni Fund Fixed Income I Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Muni California Long 101 1.20 1.20 - - 5.86 7.40 - - 3.35 4.11 - - 0.25 0.79 - - 2.07 2.22 - - 3.06 3.22 - - 02/28/2013
    MSCCX NYLI MacKay California Muni Fund Fixed Income C Morning Star Rating Morning Star Rating Muni California Long 101 0.86 0.86 -0.13 -0.13 5.30 6.83 4.30 5.83 2.80 3.53 2.80 3.53 -0.28 0.26 -0.28 0.26 1.53 1.68 1.53 1.68 2.49 2.65 2.49 2.65 02/28/2013
    MSCAX NYLI MacKay California Muni Fund Fixed Income A Morning Star Rating Morning Star Rating Morning Star Rating Muni California Long 101 1.04 1.04 -1.99 -1.99 5.60 7.13 2.43 3.92 3.10 3.85 2.05 2.81 0.00 0.54 -0.92 -0.38 1.81 1.97 1.35 1.50 2.80 2.96 2.45 2.61 02/28/2013
    MSCVX NYLI MacKay California Muni Fund Fixed Income IN Morning Star Rating Morning Star Rating Morning Star Rating Muni California Long 101 1.02 1.02 -1.51 -1.51 5.56 7.09 2.92 4.42 3.06 3.82 2.20 2.95 -0.03 0.51 -0.85 -0.31 1.79 1.94 1.32 1.47 2.75 2.91 2.40 2.56 02/28/2013
    MSODX NYLI MacKay California Muni Fund Fixed Income R6 Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Muni California Long 101 1.31 1.31 - - 5.76 7.52 - - 3.37 4.16 - - 0.26 0.84 - - - - - - 1.45 1.77 - - 11/01/2019
    MCAMX NYLI MacKay California Muni Fund Fixed Income C2 Morning Star Rating Morning Star Rating Muni California Long 101 0.87 0.87 -0.12 -0.12 5.03 6.78 4.03 5.78 2.65 3.40 2.65 3.40 -0.45 0.13 -0.45 0.13 - - - - 0.42 0.78 0.42 0.78 08/31/2020
    MHYCX NYLI Candriam Emerging Markets Debt Fund Fixed Income C Morning Star Rating Emerging Markets Bond 200 0.68 0.68 -0.30 -0.30 6.12 9.14 5.12 8.14 7.77 9.13 7.77 9.13 0.84 1.08 0.84 1.08 1.78 2.19 1.78 2.19 6.74 6.82 6.74 6.82 09/01/1998
    MGHAX NYLI Candriam Emerging Markets Debt Fund Fixed Income A Morning Star Rating Morning Star Rating Emerging Markets Bond 200 1.37 1.37 -3.19 -3.19 7.44 10.40 2.60 5.43 9.03 10.42 7.36 8.74 2.03 2.27 1.10 1.33 2.91 3.31 2.43 2.84 6.44 6.51 6.26 6.34 06/01/1998
    MGHHX NYLI Candriam Emerging Markets Debt Fund Fixed Income IN Morning Star Rating Morning Star Rating Emerging Markets Bond 200 1.08 1.08 -2.96 -2.96 6.91 9.96 2.63 5.56 8.56 9.98 7.10 8.49 1.58 1.86 0.76 1.03 2.55 2.96 2.08 2.49 4.19 4.30 3.93 4.04 02/28/2008
    MGHIX NYLI Candriam Emerging Markets Debt Fund Fixed Income I Morning Star Rating Morning Star Rating Morning Star Rating Emerging Markets Bond 200 1.60 1.60 - - 7.80 10.77 - - 9.35 10.75 - - 2.34 2.58 - - 3.20 3.61 - - 4.88 4.98 - - 08/31/2007
    MMIN NYLI MacKay Muni Insured ETF Fixed Income - Morning Star Rating Morning Star Rating Morning Star Rating Muni National Long 150 1.20 1.20 - - 7.19 8.69 7.53 8.88 3.36 4.13 3.46 4.19 0.26 0.86 0.28 0.89 - - - - 2.46 2.72 2.47 2.74 10/18/2017
    MMIOX NYLI MacKay Muni Income Opportunities Fund Fixed Income I - Muni National Long 150 2.18 2.18 - - 8.33 9.58 - - - - - - - - - - - - - - 4.23 5.28 - - 03/25/2024
    MMIPX NYLI MacKay Muni Income Opportunities Fund Fixed Income A1 - Muni National Long 150 1.86 1.86 -1.20 -1.20 7.79 9.04 4.56 5.76 - - - - - - - - - - - - 3.71 4.76 2.38 3.36 03/25/2024
    MMIRX NYLI MacKay Muni Income Opportunities Fund Fixed Income A2 - Muni National Long 150 1.86 1.86 - - 7.79 9.14 - - - - - - - - - - - - - - 3.76 4.80 - - 03/25/2024
    MMIVX NYLI MacKay Muni Income Opportunities Fund Fixed Income A3 - Muni National Long 150 1.70 1.70 - - 7.53 8.77 - - - - - - - - - - - - - - 3.46 4.50 - - 03/25/2024
    ORTFX NYLI MacKay Oregon Muni Fund Fixed Income Z Morning Star Rating Morning Star Rating Morning Star Rating Muni Single State Intermediate 103 0.79 0.79 -2.24 -2.24 4.69 6.21 1.54 3.03 2.37 2.93 1.33 1.89 0.17 0.60 -0.44 -0.01 1.02 1.18 0.72 0.87 4.32 4.37 4.24 4.29 06/16/1986
    ORTYX NYLI MacKay Oregon Muni Fund Fixed Income I Morning Star Rating Morning Star Rating Morning Star Rating Muni Single State Intermediate 103 0.89 0.89 - - 4.85 6.28 - - 2.53 3.06 - - 0.32 0.75 - - 1.17 1.33 - - 3.58 3.64 - - 04/05/1996
    ORTCX NYLI MacKay Oregon Muni Fund Fixed Income C Morning Star Rating Muni Single State Intermediate 103 0.54 0.54 -0.45 -0.45 4.28 5.70 3.28 4.70 1.81 2.36 1.81 2.36 -0.48 -0.08 -0.48 -0.08 0.26 0.41 0.26 0.41 2.58 2.63 2.58 2.63 04/05/1996
    ORTBX NYLI MacKay Oregon Muni Fund Fixed Income A - Muni Single State Intermediate 103 0.73 0.73 -2.29 -2.29 4.69 6.02 1.55 2.83 - - - - - - - - - - - - 2.31 3.15 0.79 1.55 07/22/2024
    COTAX NYLI MacKay Colorado Muni Fund Fixed Income A - Muni Single State Intermediate 103 0.88 0.88 -2.15 -2.15 4.89 6.62 1.74 3.43 - - - - - - - - - - - - 2.35 3.39 0.82 1.79 07/22/2024
    COTCX NYLI MacKay Colorado Muni Fund Fixed Income C Morning Star Rating Muni Single State Intermediate 103 0.69 0.69 -0.30 -0.30 4.71 6.34 3.71 5.34 1.99 2.57 1.99 2.57 -0.40 0.04 -0.40 0.04 0.22 0.38 0.22 0.38 2.34 2.40 2.34 2.40 04/30/1996
    COTYX NYLI MacKay Colorado Muni Fund Fixed Income I Morning Star Rating Morning Star Rating Morning Star Rating Muni Single State Intermediate 103 1.03 1.03 - - 5.26 6.88 - - 2.69 3.32 - - 0.42 0.89 - - 1.13 1.30 - - 3.40 3.47 - - 04/30/1996
    COTFX NYLI MacKay Colorado Muni Fund Fixed Income Z Morning Star Rating Morning Star Rating Morning Star Rating Muni Single State Intermediate 103 0.96 0.96 -2.07 -2.07 5.04 6.78 1.89 3.57 2.55 3.22 1.52 2.18 0.31 0.81 -0.29 0.20 1.06 1.24 0.75 0.94 4.17 4.23 4.09 4.15 05/21/1987
    MMIT NYLI MacKay Muni Intermediate ETF Fixed Income - Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Muni National Intermediate 256 0.85 0.85 - - 4.43 6.09 4.65 6.13 3.22 3.83 3.26 3.79 0.80 1.24 0.83 1.24 - - - - 2.54 2.75 2.56 2.76 10/18/2017
    MGVCX NYLI MacKay U.S. Infrastructure Bond Fund Fixed Income C Morning Star Rating Morning Star Rating Intermediate Core Bond 417 -0.44 -0.44 -1.42 -1.42 2.16 3.27 1.18 2.27 3.53 3.84 3.53 3.84 -0.84 -0.31 -0.84 -0.31 0.58 0.71 0.58 0.71 2.22 2.27 2.22 2.27 09/01/1998
    MGVAX NYLI MacKay U.S. Infrastructure Bond Fund Fixed Income A Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Intermediate Core Bond 417 0.06 0.06 -2.95 -2.95 3.05 4.30 -0.04 1.17 4.53 4.94 3.48 3.88 0.17 0.72 -0.74 -0.20 1.63 1.77 1.17 1.31 3.82 3.87 3.67 3.72 01/03/1995
    MGVNX NYLI MacKay U.S. Infrastructure Bond Fund Fixed Income IN Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Intermediate Core Bond 417 0.02 0.02 -2.48 -2.48 2.91 4.15 0.34 1.55 4.28 4.64 3.40 3.76 -0.10 0.46 -0.91 -0.36 1.33 1.47 0.86 1.00 2.15 2.23 1.90 1.97 02/28/2008
    MGOIX NYLI MacKay U.S. Infrastructure Bond Fund Fixed Income I Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Intermediate Core Bond 417 0.33 0.33 - - 3.40 4.64 - - 4.78 5.14 - - 0.39 0.95 - - 1.87 2.02 - - 2.97 3.03 - - 01/02/2004
    MGVDX NYLI MacKay U.S. Infrastructure Bond Fund Fixed Income R6 Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Morning Star Rating Intermediate Core Bond 417 0.26 0.26 - - 3.36 4.59 - - 4.86 5.22 - - 0.46 1.00 - - - - - - 1.55 1.75 - - 11/01/2019
    MIXIX NYLI Short Term Bond Fund Fixed Income I Morning Star Rating Morning Star Rating Morning Star Rating Short-Term Bond 518 1.32 1.32 - - 3.23 3.23 - - 4.78 4.95 - - 2.15 2.18 - - 2.19 2.26 - - 4.78 4.79 - - 01/02/1991
    MIXAX NYLI Short Term Bond Fund Fixed Income A Morning Star Rating Morning Star Rating Short-Term Bond 518 1.00 1.00 -0.01 -0.01 2.86 2.86 1.83 1.83 4.43 4.61 4.09 4.26 1.80 1.83 1.60 1.63 1.87 1.94 1.56 1.63 3.05 3.06 2.91 2.92 01/02/2004
    MIXNX NYLI Short Term Bond Fund Fixed Income IN Morning Star Rating Morning Star Rating Short-Term Bond 518 0.89 0.89 0.39 0.39 2.78 2.67 2.27 2.15 4.27 4.40 4.10 4.23 1.63 1.64 1.53 1.54 1.66 1.72 1.35 1.41 2.66 2.66 2.49 2.49 02/28/2008
    MIXMX NYLI Short Term Bond Fund Fixed Income SI Morning Star Rating Morning Star Rating Short-Term Bond 518 0.85 0.85 - - 2.73 2.61 - - 4.20 4.33 - - 1.50 1.50 - - - - - - 1.37 1.38 - - 08/31/2020

    For the most recent month-end performance, please visit www.nylim.com.

    Performance data quoted represents past performance. Past performance is no guarantee of future results. Due to market volatility, current performance may be less or higher than the figures shown. Investment return and principal value will fluctuate so that upon redemption, shares may be worth more or less than their original cost. Performance figures for all Funds reflect contractual waivers and/or expense limitations, without which total returns may have been lower. These limitations may be modified or terminated only with Board approval.

        

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    Bonds are subject to interest-rate risk and can lose principal value when interest rates rise. Bonds are also subject to credit risk, in which the bond issuer may fail to pay interest and principal in a timely manner. 

    Municipal bond risks include the ability of the issuer to repay the obligation, the relative lack of information about certain issuers, and the possibility of future tax and legislative changes, which could affect the market for and value of municipal securities. Investing in below investment grade securities may carry a greater risk of nonpayment of interest or principal than higher-rated securities.

    Active management strategies typically have higher fees than passive management. 

    The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance (this does not include the effects of sales charges, loads, and redemption fees). The top 10% of products in each product category receive 5stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.


    Click on the product name for the most recent overall risk-adjusted Morningstar ratings shown above, including ratings by share class and time period and the number of funds in each category. The Fund page also includes the prospectus, investment objectives, performance, risk and other important information.