MGVNX Fees and Costs — NYLI MacKay U.S. Infrastructure Bond Fund, Investor Class
Data updated: 2026-09-23
The net expense ratio is 1.11%: a 0.47% management fee, a 0.25% 12b-1 fee plus 0.58% other expenses, less a 0.19% fee waiver. This share class carries a maximum front-end sales load of 2.50%. In fiscal 2025 the fund paid $5K in broker commissions, 0.0003% of average net assets, and portfolio turnover was 71%.
MGVNX Fees and Expenses
Annual operating expenses and sales charges of MGVNX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.47% |
| 12b-1 fee | 0.25% |
| Other expenses | 0.58% |
| Gross expense ratio | 1.30% |
| Fee waiver | −0.19% |
| Net expense ratio | 1.11% |
| Sales charges | |
|---|---|
| Max front load | 2.50% |
| 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 |
MGVNX Costs Over Time
On $10,000 invested in MGVNX, assuming 5% a year before costs, total costs come to $995 over 5 years, cutting the return by 1.69% 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 |
| Sales charges | $250 | $250 | $250 |
| Fund expenses (net expense ratio 1.11%) | $114 | $354 | $613 |
| Trading costs (broker commissions) | $0 | $0 | $0 |
| Lost growth on money paid in costs | $12 | $57 | $131 |
| Total costs | $376 | $661 | $995 |
| Value after costs | $10,124 | $10,915 | $11,768 |
| Impact on return, per year | 3.76% | 2.04% | 1.69% |
MGVNX 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): 0.0003%
- Total broker commissions: $5K
- Bought from dealers (principal trades, not a cost): $4.7B
- Portfolio turnover (prospectus): 71%
- Securities lending: none during the year
MGVNX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $4K | 82.72% |
| Goldman Sachs & Co. LLC | $784 | 17.28% |
MGVNX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $2.5B | 56.78% |
| BofA Securities, Inc. | $494.8M | 11.30% |
| Wells Fargo Securities, LLC | $466.4M | 10.65% |
| RBC Capital Markets, LLC | $272.1M | 6.22% |
| Morgan Stanley & Co. LLC | $161.9M | 3.70% |
| Goldman Sachs & Co. LLC | $157.2M | 3.59% |
| Barclays Capital, Inc. | $100.8M | 2.30% |
| Jefferies LLC | $95.7M | 2.19% |
| Raymond James & Associates, Inc. | $71.7M | 1.64% |
| First Horizon Advisors, Inc. | $71.1M | 1.63% |
NYLI MacKay U.S. Infrastructure Bond Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MGVDX | Class R6 | 0.51% | none |
| MGOIX | Class I | 0.60% | none |
| MGVAX | Class A | 0.85% | 3.00% |
| MGVNX | Investor Class | 1.11% | 2.50% |
| MGVCX | Class C | 1.86% | 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.