MMAEX — MainStay ESG Multi-Asset Allocation Fund
Data updated: 2024-03-25
MMAEX — MainStay ESG Multi-Asset Allocation Fund. Alternative · $13.19M AUM · 0.98% expense ratio. Holdings, fees, performance and SEC filings.
MMAEX Fund Overview
MMAEX — MainStay ESG Multi-Asset Allocation Fund is a US mutual fund 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 mutual fund
- Manager: New York Life Investments Funds Trust
- Category: Alternative
- Assets under management: $13.19M
- 1-year return: 7.2%
- Ticker: MMAEX
- SEC CIK: 0001469192
- SEC series ID: S000073437
- Share class ID: C000230339
MMAEX Investment Objective and Strategy
MainStay ESG Multi-Asset 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 long-term growth of capital and, secondarily, current income.
Principal investment strategy
The Fund, under normal circumstances, invests at least 90% of its assets (net assets plus any borrowings for investment purposes) in exchange-traded funds where the consideration of environmental, social and governance (ESG) factors is a significant part of the investment strategy and that meet the Funds overall investment criteria. The Fund is a fund of funds that seeks to achieve its investment objective by investing in both unaffiliated and affiliated 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 60% (within a range of 50% to 70%) of its assets in Underlying Equity ETFs and approximately 40% (within a range of 30% to 50%) of its assets in Underlying Fixed-Income ETFs.
The Fund may invest approximately 15% (within a range of 5% to 25%) 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. The Underlying Equity ETFs may invest in growth and value securities with any market capitalizations. The Underlying Fixed-Income ETFs may be of any duration, maturity or credit quality. The Underlying ETFs may hold mortgage and other asset-backed securities. 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 Funds 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 normally will remain within the ranges described above): U.S. Equity International Equity Total Equity Fixed Income MainStay ESG Multi-Asset Allocation Fund 45% 15% 60% 40% The second step in the Fund's portfolio construction process involves the selection of Underlying ETFs to represent the asset classes indicated above and the determination of target weightings among the Underlying ETFs. New York Life Investments first establishes the investment universe by identifying ETFs where the consideration of ESG factors is a significant part of their respective investment processes.
New York Life Investments uses multiple third-party service providers to screen for ETFs that explicitly include the integration of ESG factors in their respective investment strategies, with the selection of Underlying ETFs subject to final review by New York Life Investments to confirm suitability for the Fund. The Underlying ETFs will primarily invest in companies or issuers that either exhibit positive ESG characteristics and/or meet certain ESG criteria as identified by the Underlying ETFs advisors. The Underlying ETFs may employ a broad range of ESG investment strategies, varying by asset class and by strategy. This may include, but is not limited to: (i) approaches that employ exclusionary screens based on certain sustainability or values-related criteria; (ii) approaches that select investments based on their ESG characteristics; or (iii) approaches that integrate the analysis of ESG factors to assess the risk-reward profile of securities.
The aforementioned selection of the ESG investment universe would generally result in the Fund forgoing some market opportunities available to other portfolios that do not consider ESG factors. The next step is the selection and weighting of specific Underlying ETFs from within that eligible ESG universe of ETFs. Third-party generated ESG scores, where available, which measure the aggregate ESG characteristics of Underlying ETFs, are the primary driver of the selection and the portfolio construction process. New York Life Investments also considers other factors in its investment process, including, but not limited to, in instances where a third-party generated ESG score is not available. These other factors include, but are not limited to: asset size, benchmark tracking error and total annual fund operations expenses.
As a result of the focus on overall ESG score, New York Life Investments generally favors ETFs with a balanced mix of environmental, social and governance factors. New York Life Investments will consider selling a security when it no longer meets the investment criteria or a more attractive alternative is identified. 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.
MMAEX Holdings
Top 10 holdings of MainStay ESG Multi-Asset Allocation Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| Xtrackers S&P 500 ESG ETF | 17.39% |
| iShares ESG Aware U.S. Aggregate Bond ETF | 16.81% |
| iShares ESG Aware MSCI EAFE ETF | 9.64% |
| iShares ESG Advanced Total USD Bond Market ETF | 8.71% |
| Invesco Govt And Agcy Lex | 7.68% |
| Vanguard ESG U.S. Corporate Bond ETF | 6.39% |
| Nuveen ESG High Yield Corporate Bond ETF | 5.12% |
| iShares ESG Screened S&P 500 ETF | 4.96% |
| Invesco ESG S&P 500 Equal Weight ETF | 4.50% |
| Nuveen ESG Mid-Cap Value ETF | 4.22% |
MMAEX Portfolio Allocation
Asset-class allocation of MainStay ESG Multi-Asset Allocation Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Other | 99.7% |
| Cash & Equivalents | 7.9% |
MMAEX Performance
Total returns for MMAEX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 7.2% |
| 3 years (annualised) | -0.1% |
MMAEX Risk Information
Risk metrics for MMAEX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 11.8%
MMAEX Costs and Fees
MMAEX costs about $98 per $10,000 invested per year in fund expenses.
- Net expense ratio: 0.98%
- Gross expense ratio: 2.00%
- Portfolio turnover: 142%
- Brokerage commissions: 5.10 bps of average net assets (SEC N-CEN)
MMAEX Cashflows
Over the 12 months to 2024-01, MainStay ESG Multi-Asset Allocation Fund had net inflows of $580.78K, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2024-01 | −$345.05K |
| 2023-12 | $301.04K |
| 2023-11 | −$28.42K |
| 2023-10 | $15.06K |
| 2023-09 | −$16.79K |
| 2023-08 | $202.55K |
MMAEX Debt Constituents
No individual debt constituents are reported in MainStay ESG Multi-Asset Allocation Fund's latest SEC N-PORT filing.
MMAEX Prospectus and SEC Filings
Official MainStay ESG Multi-Asset 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 2021-09-30
- 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.