MSTEX Fees and Costs — NYLI MacKay Short Term Muni Fund, Class R6
Data updated: 2026-09-23
The net expense ratio is 0.39%: a 0.35% management fee plus 0.04% other expenses. There are no sales loads or redemption fees. Portfolio turnover was 76%.
MSTEX Fees and Expenses
Annual operating expenses and sales charges of MSTEX. Prospectus, as of October 31, 2025.
| Annual operating expenses | |
|---|---|
| Management fee | 0.35% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.04% |
| Gross expense ratio | 0.39% |
| Fee waiver | — |
| Net expense ratio | 0.39% |
| 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 |
MSTEX Costs Over Time
On $10,000 invested in MSTEX, assuming 5% a year before costs, total costs come to $247 over 5 years, cutting the return by 0.41% 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 0.39%) | $41 | $129 | $224 |
| Lost growth on money paid in costs | $0 | $6 | $23 |
| Total costs | $41 | $135 | $247 |
| Value after costs | $10,459 | $11,441 | $12,516 |
| Impact on return, per year | 0.41% | 0.41% | 0.41% |
MSTEX 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): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $2.9B
- Portfolio turnover (prospectus): 76%
- Securities lending: none during the year
MSTEX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $1.4B | 56.60% |
| BofA Securities, Inc. | $314.2M | 12.35% |
| Wells Fargo Securities, LLC | $187.5M | 7.37% |
| Barclays Capital, Inc. | $164.4M | 6.46% |
| RBC Capital Markets, LLC | $129.4M | 5.09% |
| Stifel, Nicolaus & Company, Incorporated | $98.1M | 3.85% |
| Raymond James & Associates, Inc. | $64.2M | 2.52% |
| Morgan Stanley & Co. LLC | $60.9M | 2.39% |
| Pershing LLC | $47.2M | 1.85% |
| Piper Sandler & Co. | $38.5M | 1.51% |
NYLI MacKay Short Term 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 |
|---|---|---|---|
| MSTEX | Class R6 | 0.39% | none |
| MSTIX | Class I | 0.40% | none |
| MSTAX | Class A | 0.67% | 1.00% |
| MSTUX | Class A2 | 0.67% | 2.00% |
| MYTBX | Investor Class | 0.99% | 0.50% |
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.