MHHRX — MainStay MacKay High Yield Corporate Bond Fund
Data updated: 2026-09-23
MHHRX — MainStay MacKay High Yield Corporate Bond Fund. Short Corporate Bond · $10.42B AUM · 0.80% expense ratio. Holdings, fees, performance and SEC filings.
MHHRX Fund Overview
MHHRX — MainStay MacKay High Yield Corporate Bond Fund is a US mutual fund managed by New York Life Investments Funds, 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: New York Life Investments Funds
- Category: Short Corporate Bond
- Assets under management: $10.42B
- 1-year return: 8.4%
- Ticker: MHHRX
- SEC CIK: 0000787441
- SEC series ID: S000006896
- Share class ID: C000116272
MHHRX Investment Objective and Strategy
MainStay MacKay High Yield Corporate Bond Fund describes its objective and strategy as follows, from its latest prospectus filed with the SEC by New York Life Investments Funds.
Investment objective
The Fund 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 Fund, 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 an independent rating agency, such as Standard & Poor's Ratings Services or Moody's Investors Service, Inc., or that are unrated but are considered to be of comparable quality by MacKay Shields LLC, the Fund's Subadvisor. Securities that are rated below investment grade by independent rating agencies are commonly referred to as high-yield securities or ""junk bonds."" If independent rating agencies assign different ratings to the same security, the Fund will use the lower rating for purposes of determining the security's credit quality.
The Fund's high-yield investments may also include convertible corporate securities, loans and loan participation interests. The Fund may invest up to 20% of its net assets in common stocks and other equity-related securities. The Fund may hold cash or invest in short-term instruments during times when the Subadvisor is unable to identify attractive high-yield securities. The Fund 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 Fund 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 Fund 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 Fund. Although investing heavily in these investments may help to preserve the Fund's assets, it may not be consistent with the Fund's primary investment objective and may limit the Fund'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 Fund invests only in companies in which the Subadvisor has judged that there is sufficient asset coverage-that 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 no longer believes the security will contribute to meeting the investment objectives of the Fund. 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."
MHHRX Holdings
Top 10 holdings of MainStay MacKay High Yield Corporate Bond Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Great Outdoors Group LLC | 0.80% |
| TransDigm, Inc. | 0.76% |
| Jazz Securities DAC | 0.56% |
| Jane Street Group | 0.55% |
| CCO Holdings LLC | 0.52% |
| Core Scientific Finance I LLC | 0.52% |
| Energy Technologies Ltd. | 0.51% |
| Organon & Co. | 0.51% |
| Quikrete Holdings, Inc. | 0.50% |
| 1011778 B.C. Unlimited Liability Co. | 0.50% |
MHHRX Portfolio Allocation
Asset-class allocation of MainStay MacKay High Yield Corporate Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Fixed Income | 87.7% |
| Loans | 5.4% |
| Equity | 1.5% |
| Other | 0.3% |
MHHRX Performance
Total returns for MHHRX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 8.4% |
| 3 years (annualised) | 2.5% |
MHHRX Risk Information
Risk metrics for MHHRX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 5.1%
MHHRX Costs and Fees
MHHRX costs about $80 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.80%
- Gross expense ratio: 0.80%
- Portfolio turnover: 34%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
MHHRX Cashflows
Over the 12 months to 2026-04, MainStay MacKay High Yield Corporate Bond Fund had net outflows of $662.46M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | $129.83M |
| 2026-03 | −$27.22M |
| 2026-02 | −$702.01M |
| 2026-01 | −$16.87M |
| 2025-12 | $66.66M |
| 2025-11 | $22.59M |
MHHRX Debt Constituents
Largest debt holdings of MainStay MacKay High Yield Corporate Bond Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| TransDigm, Inc. | 0.76% |
| Jazz Securities DAC | 0.56% |
| Jane Street Group | 0.55% |
| CCO Holdings LLC | 0.52% |
| Core Scientific Finance I LLC | 0.52% |
| Organon & Co. | 0.51% |
| Quikrete Holdings, Inc. | 0.50% |
| 1011778 B.C. Unlimited Liability Co. | 0.50% |
| Star Leasing Co. LLC | 0.48% |
| Watco Cos. LLC | 0.48% |
MHHRX Prospectus and SEC Filings
Official MainStay MacKay High Yield Corporate Bond Fund filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.
- Prospectus (485BPOS) — filed 2026-02-26
- Prospectus (485BPOS) — filed 2025-02-25
- Prospectus supplement (497) — filed 2025-02-28
- Portfolio holdings (N-PORT) — filed 2026-09-23
- Portfolio holdings (N-PORT) — filed 2026-06-25
- Portfolio holdings (N-PORT) — filed 2026-03-26
- Annual census (N-CEN) — filed 2026-01-13
- Annual census (N-CEN) — filed 2025-01-13
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.