MDNRX — MainStay Defensive ETF Allocation Fund
Data updated: 2024-03-25
MDNRX — MainStay Defensive ETF Allocation Fund. Alternative · $8.98M AUM · 1.29% expense ratio. Holdings, fees, performance and SEC filings.
MDNRX Fund Overview
MDNRX — MainStay Defensive ETF Allocation Fund is a US ETF managed by New York Life Investments Funds Trust, categorised as Alternative. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.
- Type: US ETF
- Manager: New York Life Investments Funds Trust
- Category: Alternative
- Assets under management: $8.98M
- 1-year return: 3.5%
- Ticker: MDNRX
- SEC CIK: 0001469192
- SEC series ID: S000068836
- Share class ID: C000219991
MDNRX Investment Objective and Strategy
MainStay Defensive ETF Allocation Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by New York Life Investments Funds Trust.
Investment objective
The Fund seeks current income.
Principal investment strategy
The Fund, under normal circumstances, invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in exchange-traded funds. The Fund is a fund of funds that seeks to achieve its investment objective by investing in unaffiliated passively-managed exchange-traded funds (the Underlying ETFs). The Fund is designed for investors with a particular risk profile as represented by the asset class allocations described below, and invests in a distinct mix of Underlying ETFs. The Fund seeks to achieve its investment objective by normally investing approximately 80% (within a range of 70% to 90%) of its assets in Underlying Fixed-Income ETFs and approximately 20% (within a range of 10% to 30%) of its assets in Underlying Equity ETFs. The Fund may invest approximately 5% (within a range of 0% to 15%) of its assets in Underlying International Equity ETFs.
New York Life Investments may change the asset class allocations, the Underlying ETFs in which the Fund invests, or the target weighting without approval from shareholders. New York Life Investments will determine each Underlying ETFs asset class, and for Underlying ETFs that may potentially fall into multiple asset classes, New York Life Investments will classify them based on certain factors, including, but not limited to, the Underlying ETFs investment strategy and portfolio characteristics. New York Life Investments uses a two-step asset allocation process to create the Fund's portfolio. The first step includes a strategic review of the target allocations to the equity and fixed-income asset classes and a determination of any tactical allocation adjustments to establish the portion of the Fund's investable portfolio (meaning the Fund's assets available for investment, other than working cash balances) to be invested in each asset class.
The following table illustrates the Fund's target allocations among asset classes (the target allocations and/or actual holdings will vary from time to time as a result of the tactical allocation process, although these variations will remain within the ranges described above): U.S. Equity International Equity Total Equity Fixed-Income MainStay Defensive ETF Allocation Fund 15% 5% 20% 80% The second step in the Fund's portfolio construction process involves the actual selection of Underlying ETFs to represent the asset classes indicated above and determination of target weightings among the Underlying ETFs. The Fund may invest in any or all of the Underlying ETFs within an asset class, but will not normally invest in every Underlying ETF at one time. Selection of individual Underlying ETFs is based on several factors, including, but not limited to, liquidity, benchmark tracking error and total annual fund operating expenses.
New York Life Investments monitors the Fund's portfolio daily to ensure that the Fund's actual asset class allocations among the Underlying ETFs continue to conform to the Fund's target allocations over time and may periodically adjust target asset class allocations based on various quantitative and qualitative data relating to the U.S. and international economies (including emerging markets), securities markets, and various segments within those markets. In connection with the asset allocation process, the Fund may from time to time invest more than 25% of its assets in one Underlying ETF.
MDNRX Holdings
Top 10 holdings of MainStay Defensive ETF Allocation Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| iShares Core U.S. Aggregate Bond ETF | 43.03% |
| iShares Broad USD Investment Grade Corporate Bond ETF | 10.87% |
| Invesco Senior Loan ETF | 8.43% |
| iShares 0-5 Year High Yield Corporate Bond ETF | 6.89% |
| Invesco S&P 500 Equal Weight ETF | 3.98% |
| iShares Broad USD High Yield Corporate Bond ETF | 3.76% |
| Vanguard Short-Term Bond ETF | 2.65% |
| iShares MSCI Japan ETF | 2.64% |
| JPMorgan BetaBuilders US Treasury Bond 20+ Year ETF | 2.46% |
| Invesco S&P SmallCap Quality ETF | 2.44% |
MDNRX Portfolio Allocation
Asset-class allocation of MainStay Defensive ETF Allocation Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Other | 99.4% |
| Cash & Equivalents | 0.2% |
MDNRX Performance
Total returns for MDNRX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 3.5% |
| 3 years (annualised) | -0.6% |
MDNRX Risk Information
Risk metrics for MDNRX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 8.1%
MDNRX Costs and Fees
MDNRX costs about $129 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.29%
- Gross expense ratio: 2.49%
- Portfolio turnover: 64%
- Brokerage commissions: 5.33 bps of average net assets (SEC N-CEN)
MDNRX Cashflows
Over the 12 months to 2024-01, MainStay Defensive ETF Allocation Fund had net outflows of $1.63M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-01 | −$1.71M |
| 2023-12 | −$319.26K |
| 2023-11 | −$356.42K |
| 2023-10 | $85.39K |
| 2023-09 | −$15.68K |
| 2023-08 | $32.06K |
MDNRX Debt Constituents
No individual debt constituents are reported in MainStay Defensive ETF Allocation Fund's latest SEC N-PORT filing.
MDNRX Prospectus and SEC Filings
Official MainStay Defensive ETF Allocation Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2023-08-22
- Prospectus (485BPOS) — filed 2022-08-29
- Prospectus (485BPOS) — filed 2021-08-26
- Portfolio holdings (N-PORT) — filed 2024-03-25
- Portfolio holdings (N-PORT) — filed 2023-12-26
- Portfolio holdings (N-PORT) — filed 2023-09-26
- Annual census (N-CEN) — filed 2023-07-12
- Annual census (N-CEN) — filed 2022-07-11
Related Funds
Other Alternative 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.