MCNVX Fees and Costs — NYLI MacKay Convertible Fund, Class I
Data updated: 2026-09-23
The net expense ratio is 0.61%: a 0.55% management fee plus 0.13% other expenses, less a 0.07% fee waiver. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $53K in broker commissions, 0.0035% of average net assets, and portfolio turnover was 40%.
MCNVX Fees and Expenses
Annual operating expenses and sales charges of MCNVX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.13% |
| Gross expense ratio | 0.68% |
| Fee waiver | −0.07% |
| Net expense ratio | 0.61% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | 0.00% |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
MCNVX Costs Over Time
On $10,000 invested in MCNVX, assuming 5% a year before costs, total costs come to $387 over 5 years, cutting the return by 0.64% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.61%) | $64 | $201 | $349 |
| Trading costs (broker commissions) | $0 | $1 | $2 |
| Lost growth on money paid in costs | $0 | $10 | $35 |
| Total costs | $64 | $212 | $387 |
| Value after costs | $10,436 | $11,364 | $12,376 |
| Impact on return, per year | 0.64% | 0.64% | 0.64% |
MCNVX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending October 31, 2025.
- Explicit cost rate (commissions ÷ average net assets): 0.0035%
- Total broker commissions: $53K
- Bought from dealers (principal trades, not a cost): $2.1B
- Portfolio turnover (prospectus): 40%
- Securities on loan, average value: $19.0M
- Net income from securities lending: $154K (0.010% of average net assets)
MCNVX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| Morgan Stanley & Co. LLC | $12K | 22.72% |
| Johnson Rice & Company L.L.C. | $11K | 21.02% |
| Piper Sandler & Co. | $10K | 18.96% |
| MUFG Securities Americas Inc. | $8K | 14.96% |
| Bank of New York Mellon Corp. | $8K | 14.96% |
| Evercore Group L.L.C. | $4K | 7.38% |
MCNVX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $1.1B | 60.37% |
| BofA Securities, Inc. | $148.0M | 7.98% |
| Goldman Sachs & Co. LLC | $130.0M | 7.01% |
| Pershing LLC | $101.3M | 5.46% |
| Wells Fargo Securities, LLC | $81.1M | 4.37% |
| Evercore Group L.L.C. | $72.6M | 3.91% |
| UBS Securities LLC | $64.7M | 3.49% |
| Morgan Stanley & Co. LLC | $62.0M | 3.34% |
| SANTANDER INVESTMENT S.A. | $39.9M | 2.15% |
| Oppenheimer & Co. Inc. | $35.6M | 1.92% |
NYLI MacKay Convertible Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MCNVX | Class I | 0.61% | none |
| MCOAX | Class A | 0.93% | 5.50% |
| MCINX | Investor Class | 1.16% | 5.00% |
| MCCVX | Class C | 1.91% | none |
| MCSVX | Class B | 1.94% | none |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.