MXFHX — MainStay Floating Rate Fund
Data updated: 2026-09-23
MXFHX — MainStay Floating Rate Fund. Short Corporate Bond · $1.32B AUM · 1.35% expense ratio · 9.2% 1-yr return. Holdings, fees, performance and SEC filings.
MXFHX Fund Overview
MXFHX — MainStay Floating Rate Fund is a US mutual fund managed by New York Life Investments Funds Trust, 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 Trust
- Category: Short Corporate Bond
- Assets under management: $1.32B
- 1-year return: 9.2%
- Ticker: MXFHX
- SEC CIK: 0001469192
- SEC series ID: S000028529
- Share class ID: C000166839
MXFHX Investment Objective and Strategy
MainStay Floating Rate 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 high current income.
Principal investment strategy
The Fund, under normal circumstances, invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in a portfolio of floating rate loans and other floating rate debt securities. The Fund may also purchase fixed-income and variable rate debt securities and money market securities or instruments. When NYL Investors LLC (NYL Investors), the Fund's Subadvisor, believes that market or economic conditions are unfavorable to investors, up to 100% of the Fund's assets may be invested in money market or short-term debt securities. The Subadvisor may also invest in these types of securities or hold cash, while looking for suitable investment opportunities or to maintain an appropriate level of liquidity. The Fund may invest up to 25% of its total assets in foreign securities which are generally U.S.
dollar-denominated loans and other debt securities issued by one or more non-U.S. borrower(s) without a U.S. domiciled co-borrower. Investment Process: The Subadvisor seeks to identify investment opportunities based on the financial condition and competitiveness of individual companies. The Subadvisor seeks to invest in companies with a high margin of safety that are leaders in industries with high barriers to entry. The Subadvisor prefers companies with positive free cash flow, solid asset coverage and management teams with strong track records. In virtually every phase of the investment process, the Subadvisor attempts to control risk and limit defaults. Floating rate loans may offer a favorable yield spread over other short-term fixed-income alternatives. Historically, floating rate loans have displayed little correlation to the movements of U.S.
common stocks, high-grade bonds and U.S. government securities. 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., are commonly referred to as high-yield securities or junk bonds. Floating rate loans are speculative investments and are usually rated below investment grade. They typically have less credit risk and historically have had lower default rates than junk bonds. These loans are typically the most senior source of capital in a borrower's capital structure and usually have certain of the borrower's assets pledged as collateral. Floating rate loans feature rates that reset regularly, maintaining a fixed spread over the London InterBank Offered Rate or the prime rates of large money-center banks.
The interest rates for floating rate loans typically reset quarterly, although rates on some loans may adjust at other intervals. Floating rate loans mature, on average, in five to seven years, but loan maturity can be as long as nine years. The Subadvisor may reduce or eliminate the Fund's position in a holding if it no longer believes the holding will contribute to meeting the investment objectives of the Fund. In considering whether to sell a holding, the Subadvisor may evaluate, among other things, meaningful changes in the issuer's financial condition and competitiveness. The Subadvisor continually evaluates market factors and comparative metrics to determine relative value.
MXFHX Holdings
Top 10 holdings of MainStay Floating Rate Fund by percentage of net assets, from the fund's latest SEC N-PORT filing.
| Holding | % of net assets |
|---|---|
| United States of America | 1.53% |
| United States of America | 0.95% |
| QTS Thunder Managing Issuer LLC | 0.89% |
| United States of America | 0.80% |
| AthenaHealth Group, Inc. | 0.72% |
| Allied Universal Holdco LLC | 0.69% |
| Carrix, Inc. | 0.68% |
| Hologic, Inc. | 0.66% |
| TransDigm, Inc. | 0.66% |
| Indy U.S. Holdco LLC | 0.65% |
MXFHX Portfolio Allocation
Asset-class allocation of MainStay Floating Rate Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Loans | 88.6% |
| Fixed Income | 6.9% |
| Cash & Equivalents | 5.6% |
| Securitized | 2.4% |
| Other | 0.5% |
| Equity | 0.2% |
MXFHX Performance
Total returns for MXFHX (as of 2026-10-01), from SEC filings.
| Period | Total return |
|---|---|
| 1 year | 9.2% |
| 3 years (annualised) | 4.0% |
MXFHX Risk Information
Risk metrics for MXFHX, derived from monthly returns in SEC filings.
- 1-year volatility (annualised): 2.5%
MXFHX Costs and Fees
MXFHX costs about $135 per $10,000 invested per year in fund expenses.
- Net expense ratio: 1.35%
- Gross expense ratio: 1.35%
- Portfolio turnover: 36%
- Brokerage commissions: 0.00 bps of average net assets (SEC N-CEN)
MXFHX Cashflows
Over the 12 months to 2026-04, MainStay Floating Rate Fund had net outflows of $194.60M, from monthly SEC N-PORT filings.
| Month | Net flow |
|---|---|
| 2026-04 | −$16.30M |
| 2026-03 | −$40.08M |
| 2026-02 | −$21.88M |
| 2026-01 | −$10.68M |
| 2025-12 | −$37.54M |
| 2025-11 | −$23.36M |
MXFHX Debt Constituents
Largest debt holdings of MainStay Floating Rate Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Debt holding | % of net assets |
|---|---|
| CRC Insurance Group, LLC | 0.30% |
| Rocket Software, Inc. | 0.26% |
| Univision Communications, Inc. | 0.25% |
| Global Auto Holdings Ltd. | 0.24% |
| Adient Global Holdings Ltd. | 0.20% |
| Newell Brands, Inc. | 0.20% |
| JetBlue Airways Corp. | 0.18% |
| CP Atlas Buyer, Inc. | 0.18% |
| TrueNoord Capital DAC | 0.18% |
| SM Energy Co. | 0.18% |
MXFHX Prospectus and SEC Filings
Official MainStay Floating Rate 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.