Subsidized Yield: the yield of a fund that includes any fee waivers or reimbursements currently in place by the fund’s manager. This figure shows the income generated by the fund after accounting for reduced expenses, giving a more favorable representation of returns under current conditions.
Unsubsidized Yield: the yield of a fund that excludes any fee waivers or reimbursements. It reflects the income the fund would generate if the full expenses were charged, offering a view of returns without any temporary fee reductions.

Distributions may be comprised of ordinary income, net capital gains, and/or a return of capital (ROC) of your investment in the fund. Because the distribution rate and the 12-month rate may include a ROC, they should not be confused with yield or income. Please refer to the most recent Section 19 Notice, if applicable, for additional information regarding the composition of distributions. Final determination of a distribution’s tax character will be made on Form 1099 DIV sent to shareholders each January.

Distribution Rate: Distribution rate is calculated by annualizing the most recent distribution per share (dividing the number of calendar days during the year by the number of calendar days over which the most recent distribution accumulated) and dividing it by the NAV. The Fund intends to pay monthly distributions from net investment income.

12-month Rate: The 12-month rate measures the percentage return in the form of dividends. It is calculated monthly by taking the sum of the trailing 12-month dividend payments divided by the last month's ending share price (NAV or POP) plus any capital gains distributed over previous 12 months. If the Fund did not make any distributions over the previous 12 months, "N/A" will be displayed.

The 30 Day SEC Yield is calculated by dividing the net investment income per share for the first 30 days of the month by the offering price per share at the end of that period. The yield reflects the dividends and interest earned during the period, after the deduction of the Fund's expenses. Yield reflects a fee waiver and/or expense limitation agreement without which the 30 Day SEC Yield would have been lower.

Dividend distributions are the distribution of a dividend to mutual fund shareholders as of a certain date. The following Funds declare daily dividends: NYLIM MacKay California Muni Fund, NYLIM Floating Rate Fund, NYLIM MacKay High Yield Muni Bond Fund, NYLIM MacKay U.S. Infrastructure Bond Fund, NYLIM Money Market Fund, NYLIM MacKay New York Muni Fund, NYLIM MacKay Short Term Muni Fund and NYLIM MacKay Tax Free Bond.