MSODX Fees and Costs — NYLI MacKay California Muni Fund, Class R6
Data updated: 2026-09-23
The net expense ratio is 0.48%: a 0.45% management fee plus 0.03% other expenses. There are no sales loads or redemption fees. In fiscal 2025 the fund paid $15K in broker commissions, 0.0012% of average net assets, and portfolio turnover was 80%.
MSODX Fees and Expenses
Annual operating expenses and sales charges of MSODX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.45% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.03% |
| Gross expense ratio | 0.48% |
| Fee waiver | — |
| Net expense ratio | 0.48% |
| 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 |
MSODX Costs Over Time
On $10,000 invested in MSODX, assuming 5% a year before costs, total costs come to $304 over 5 years, cutting the return by 0.51% 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 0.48%) | $50 | $158 | $276 |
| Trading costs (broker commissions) | $0 | $0 | $1 |
| Lost growth on money paid in costs | $0 | $8 | $28 |
| Total costs | $51 | $166 | $304 |
| Value after costs | $10,449 | $11,410 | $12,459 |
| Impact on return, per year | 0.51% | 0.51% | 0.51% |
MSODX 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): 0.0012%
- Total broker commissions: $15K
- Bought from dealers (principal trades, not a cost): $3.2B
- Portfolio turnover (prospectus): 80%
- Securities lending: none during the year
MSODX Agency Brokers
Commissions paid.
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $15K | 100.00% |
MSODX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $1.3B | 51.50% |
| Morgan Stanley & Co. LLC | $250.0M | 9.76% |
| Barclays Capital, Inc. | $150.0M | 5.86% |
| Goldman Sachs & Co. LLC | $140.8M | 5.50% |
| Piper Sandler & Co. | $131.1M | 5.12% |
| Stifel, Nicolaus & Company, Incorporated | $126.7M | 4.95% |
| RBC Capital Markets, LLC | $124.9M | 4.88% |
| Pershing LLC | $110.0M | 4.30% |
| Wells Fargo Securities, LLC | $105.4M | 4.12% |
| Jefferies LLC | $102.8M | 4.01% |
NYLI MacKay California Muni Fund Share Classes
Net expense ratio and maximum front-end load of each share class, cheapest first.
| Ticker | Class | Net expense ratio | Front load |
|---|---|---|---|
| MSODX | Class R6 | 0.48% | none |
| MCOIX | Class I | 0.50% | none |
| MSCAX | Class A | 0.75% | 3.00% |
| MSCVX | Investor Class | 0.78% | 2.50% |
| MSCCX | Class C | 1.03% | none |
| MCAMX | Class C2 | 1.18% | 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.