MainStay VP MacKay High Yield Corporate Bond Portfolio
Data updated: 2026-08-24
C000025827 — MainStay VP MacKay High Yield Corporate Bond Portfolio. Short Corporate Bond · $3.12B AUM. Holdings, fees, performance and SEC filings.
C000025827 Fund Overview
MainStay VP MacKay High Yield Corporate Bond Portfolio is a US mutual fund managed by Mainstay Vp Funds Trust, categorised as Short Corporate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US mutual fund
- Manager: Mainstay Vp Funds Trust
- Category: Short Corporate Bond
- Assets under management: $3.12B
- 1-year return: 4.6%
- SEC CIK: 0000887340
- SEC series ID: S000009448
- Share class ID: C000025827
C000025827 Investment Objective and Strategy
MainStay VP MacKay High Yield Corporate Bond Portfolio describes its objective and strategy as follows, from its latest prospectus filed with the SEC by Mainstay Vp Funds Trust.
Investment objective
The Portfolio seeks maximum current income through investment in a diversified portfolio of high-yield debt securities. Capital appreciation is a secondary objective.
Principal investment strategy
"The Portfolio, under normal circumstances, invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in high-yield corporate debt securities, including all types of high-yield domestic and foreign corporate debt securities that are rated below investment grade by a nationally recognized statistical rating organization (NRSRO) or that are unrated but are considered to be of comparable quality by MacKay Shields LLC, the Portfolio's Subadvisor. Corporate debt securities are bonds and other debt securities, including preferred stock, convertible corporate securities and loans and loan participations, issued by corporations and other business structures. The issuer usually pays a fixed, variable, or floating rate of interest, and must repay the amount borrowed, usually at the maturity of the security.
An issuer of a security is considered to be a U.S. or foreign issuer based on the issuer's ""country of risk"" (or similar designation) as determined by a third-party such as Bloomberg. Securities that are rated below investment grade by NRSROs (such as securities rated lower than BBB- and Baa3) are commonly referred to as high-yield securities or ""junk bonds."" If NRSROs assign different ratings to the same security for purposes of determining the security's credit quality, the Portfolio will use the middle rating when three NRSROs rate the security. For securities where only two NRSROs rate the security, the Portfolio will use the higher rating. If only one rating is available for a security, the Portfolio will use that rating. The Portfolio's high-yield investments may also include convertible corporate securities, loans and loan participation interests.
The Portfolio may invest up to 20% of its net assets in common stocks and other equity-related securities. The Portfolio may hold cash or invest in short-term instruments during times when the Subadvisor is unable to identify attractive high-yield securities. The Portfolio may invest in derivatives, such as futures, options and swap agreements to seek enhanced returns or to reduce the risk of loss by hedging certain of its holdings. In times of unusual or adverse market, economic or political conditions, the Portfolio may invest without limit in investment grade securities and may invest in U.S. government securities or other high quality money market instruments. Periods of unusual or adverse market, economic or political conditions may exist in some cases, for up to a year or longer. To the extent the Portfolio is invested in cash, investment grade debt or other high quality instruments, the yield on these investments tends to be lower than the yield on other investments normally purchased by the Portfolio.
Although investing heavily in these investments may help to preserve the Portfolio's assets, it may not be consistent with the Portfolio's primary investment objective and may limit the Portfolio's ability to achieve a high level of income. Investment Process: The Subadvisor seeks to identify investment opportunities by analyzing individual companies and evaluating each company's competitive position, financial condition, and business prospects. The Portfolio invests in companies in which the Subadvisor has judged that there is sufficient asset coveragethat is, the Subadvisor's subjective appraisal of a company's value compared to the value of its debt, with the intent of maximizing risk-adjusted income and returns. The Subadvisor may sell a security if it believes the security will no longer contribute to meeting the investment objectives of the Portfolio.
In considering whether to sell a security, the Subadvisor may evaluate, among other things, the price of the security and meaningful changes in the issuer's financial condition and competitiveness."
C000025827 Holdings
Top 10 holdings of MainStay VP MacKay High Yield Corporate Bond Portfolio by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Great Outdoors Group LLC | 0.76% |
| TransDigm, Inc. | 0.59% |
| CCO Holdings LLC | 0.55% |
| Core Scientific Finance I LLC | 0.52% |
| Energy Technologies Ltd. | 0.50% |
| Watco Cos. LLC | 0.49% |
| Organon & Co. | 0.48% |
| Clarivate Science Holdings Corp. | 0.48% |
| JB Poindexter & Co., Inc. | 0.47% |
| Star Leasing Co. LLC | 0.47% |
C000025827 Portfolio Allocation
Asset-class allocation of MainStay VP MacKay High Yield Corporate Bond Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 88.6% |
| Loans | 5.4% |
| Equity | 1.4% |
C000025827 Performance
Total returns for C000025827 (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| YTD | 1.7% |
| 1 year | 4.6% |
| 3 years (annualised) | 7.2% |
| 5 years (annualised) | 3.7% |
C000025827 Risk Information
Risk metrics for C000025827, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 1.9%
C000025827 Costs and Fees
C000025827 costs about $83 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.83%
- Gross expense ratio: 0.84%
- Portfolio turnover: 30%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
C000025827 Cashflows
Over the 12 months to 2026-06, MainStay VP MacKay High Yield Corporate Bond Portfolio had net inflows of $450.82M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-06 | $60.83K |
| 2026-05 | −$7.84M |
| 2026-04 | $204.37M |
| 2026-03 | −$34.22M |
| 2026-02 | −$19.14M |
| 2026-01 | −$9.94M |
C000025827 Debt Constituents
Largest debt holdings of MainStay VP MacKay High Yield Corporate Bond Portfolio by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| TransDigm, Inc. | 0.59% |
| CCO Holdings LLC | 0.55% |
| Core Scientific Finance I LLC | 0.52% |
| Watco Cos. LLC | 0.49% |
| Organon & Co. | 0.48% |
| Clarivate Science Holdings Corp. | 0.48% |
| JB Poindexter & Co., Inc. | 0.47% |
| Star Leasing Co. LLC | 0.47% |
| Jazz Securities DAC | 0.46% |
| Plains All American Pipeline LP | 0.46% |
C000025827 Prospectus and SEC Filings
Official MainStay VP MacKay High Yield Corporate Bond Portfolio filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-04-16
- Prospectus (485BPOS) — filed 2025-04-16
- Prospectus (485BPOS) — filed 2024-04-19
- Portfolio holdings (N-PORT) — filed 2026-08-24
- Portfolio holdings (N-PORT) — filed 2026-05-26
- Portfolio holdings (N-PORT) — filed 2026-02-26
- Annual census (N-CEN) — filed 2026-03-13
- Annual census (N-CEN) — filed 2025-03-14
Related Funds
Other Short Corporate Bond funds tracked on ABC INVEST:
Data Sources
ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.