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2022im体育滚球赔率

Overview

MainStay WMC Small Companies Fund seeks to invest in U.S. small cap companies, focused on identifying and optimally timing investing around inflections in business momentum.

A focus on inflection points

Seeks to identify and optimally time investments across a range of inflection points in business fundamentals.

Wellington's boutique approach

Investment team has autonomy to set the portfolio's philosophy and process, while leveraging the resources of a large, global firm.

Data science integration

Idea generation process incorporates proprietary data science tools to help identify potential precursors to inflections before the market.

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MainStay Named Top 5 in U.S. Equity by Barron’s

MainStay’s U.S. Equity Funds ranked #5 in 2021 among 51 families for the U.S. Equity category, based on one-year relative performance. ¹

Performance

Class A & INV: 5.5% maximum initial sales charge; a 1% CDSC may be imposed on certain redemptions made within 18 months of the date of purchase on shares that were purchased without an initial sales charge. Class B: CDSC up to 5% if redeemed within six years. Class C: 1% CDSC if redeemed within one year. Class I: No initial sales charge or CDSC.

Returns represent past performance which is no guarantee of future results. Current performance may be lower or higher. Investment return and principal value will fluctuate, and shares, when redeemed, may be worth more or less than their original cost. No initial sales charge applies on investments of $1 million or more (and certain other qualified purchases). However, a contingent deferred sales charge of 1.00% may be imposed on certain redemptions made within 18 months of the date of purchase on shares that were purchased without an initial sales charge. Expenses stated are as of the fund's most recent prospectus.

Effective March 5, 2021, the Fund replaced its subadvisor and modified its principal investment strategies. The past performance prior to that date reflects the Fund’s prior subadvisor and principal investment strategies.

Expenses include Interest Expense on Securities Sold Short and Broker Fees and Charges on Short Sales for each share class, without which, the total net expenses are as follows: Class A: 1.25%; Class C: 2.27%; Class I: 1.27%.

Performance reflects transfer agency expenses charged to each share classes which will be limited to a maximum of 0.35% of that share class's average daily net assets on an annual basis (excluding small account fees) after deducting any other applicable expense cap reimbursements or transfer agency waivers. These agreements will remain in effect until 2/28/23, and renew automatically for one-year terms unless written notice is provided prior to the start of the next term or upon approval of the Board.

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Does not reflect the effect of any sales charge, which would reduce performance shown. Performance for other sales charges will differ based on differences in sales charges and expense structure.

Portfolio

Top Sectors (%)

Distribution & Yields

Distributions may be comprised of ordinary income, net capital gains, and/or a return of capital (ROC) of your investment in the fund. Because the distribution rate and the 12-month rate may include a ROC, they should not be confused with yield or income. Please refer to the most recent Section 19 Notice, if applicable, for additional information regarding the composition of distributions. Final determination of a distribution’s tax character will be made on Form 1099 DIV sent to shareholders each January.

Distribution Rate: The distribution rate measures the percentage return in the form of dividends. It is calculated daily by annualizing the most recent dividend distribution and dividing by the daily share price (NAV or POP). If the Fund did not make a distribution as of the latest scheduled distribution date, "N/A" will be displayed.

12-month Rate: The 12-month rate measures the percentage return in the form of dividends. It is calculated monthly by taking the sum of the trailing 12-month dividend payments divided by the last month's ending share price (NAV or POP) plus any capital gains distributed over previous 12 months. If the Fund did not make any distributions over the previous 12 months, "N/A" will be displayed.

The 30 Day SEC Yield is calculated by dividing the net investment income per share for the first 30 days of the month by the offering price per share at the end of that period. The yield reflects the dividends and interest earned during the period, after the deduction of the Fund's expenses. Yield reflects a fee waiver and/or expense limitation agreement without which the 30 Day SEC Yield would have been lower.

Dividend distributions are the distribution of a dividend to mutual fund shareholders as of a certain date. The following Funds declare daily dividends: MainStay MacKay California Tax Free Opportunities, MainStay Floating Rate, MainStay MacKay High Yield Municipal Bond, MainStay MacKay U.S. Infrastructure Bond Fund, MainStay Money Market, MainStay MacKay New York Tax Free Opportunities, MainStay MacKay Short Term Municipal Fund and MainStay MacKay Tax Free Bond.

Click here for MainStay Funds sales charge and breakpoint information.

Fees & Expenses

Team

A global asset manager with expertise and solutions across equity, fixed income, multi-asset and alternatives.

One of the world’s largest independent investment management firms, offering comprehensive investment capabilities built on rigorous, proprietary research spanning nearly all segments of the global capital markets, including equity, fixed income, multi-asset and alternative strategies.

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Peter Carpi

Managing Director

Literature

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BEFORE YOU INVEST

The investment strategies, practices and risk analyses used by the Subadvisor may not produce the desired results.

Before considering an investment in the Fund, you should understand that you could lose money.

Foreign securities can be subject to greater risks than U.S. investments, including currency fluctuations, less liquid trading markets, greater price volatility, political and economic instability, less publicly available information, and changes in tax or currency laws or monetary policy. These risks are likely to be greater for emerging markets than in developed markets.

Investments in common stocks and other equity securities are particularly subject to the risk of changing economic, stock market, industry and company conditions and the risks inherent in theportfolio managers' ability to anticipate such changes that can adversely affect the value of the Fund's holdings.

Investing in smaller companies involves special risks, including higher volatility and lower liquidity.

If growth companies do not increase their earnings at a rate expected by investors, the market price of the stock may decline significantly, even if earnings show an absolute increase. Growth company stocks also typically lack the dividend yield that can cushion stock prices in market downturns.

The principal risk of investing in value funds is that the price of the security may not approach its anticipated value.

There can be no guarantee that the Fund will achieve or maintain any particular level of yield.

The Underlying Funds may experience a portfolio turnover rate of over 100% and may generate short-term capital gains which are taxable.

Investing in mid-cap stocks may carry more risk than investing in stocks of larger, more well-established companies.

Russell 2000 Index is a small-cap stock market index of the bottom 2,000 stocks in the Russell 3000 Index.

An investment cannot be made directly into an index.

Standard Deviation measures how widely dispersed a fund's returns have been over a specified period of time. A high standard deviation indicates that the range is wide, implying greater potential for volatility.

Alpha measures a fund's risk-adjusted performance and is expressed as an annualized percentage.

Beta is a measure of historical volatility relative to an appropriate index (benchmark) based on its investment objective. A beta greater than 1.00 indicates volatility greater than the benchmark's.

R-Squared measures the percentage of a fund's movements that result from movements in the index.

Sharpe Ratio shown is calculated for the past 36-month period by dividing annualized excess returns by annualized standard deviation.

Annual Turnover Rate is as of the most recent annual shareholder report.

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1. As of 12/31/21. MainStay WMC Small Companies Fund (Class A) rankings in the Lipper Small-Cap Core Funds category: one-year: #723 out of 842; five-year: #637 out of 722; 10-year: #437 out of 495. Past performance is no guarantee of future results, which may vary.

How Barron’s Ranks the Fund Families

All mutual and exchange-traded funds are required to report their returns (to regulators as well as in advertising and marketing material) after fees are deducted, to better reflect what investors would actually experience. But our aim is to measure manager skill, independent of expenses beyond annual management fees. That’s why we calculate returns before any 12b-1 fees are deducted. Similarly, fund loads, or sales charges, aren’t included in our calculation of returns.

Each fund’s performance is measured against all of the other funds in its Refinitiv Lipper category, with a percentile ranking of 100 being the highest and one the lowest. This result is then weighted by asset size, relative to the fund family’s other assets in its general classification. If a family’s biggest funds do well, that boosts its overall ranking; poor performance in its biggest funds hurts a firm’s ranking.

To be included in the ranking, a firm must have at least three funds in the general equity category, one world equity, one mixed equity (such as a balanced or target-date fund), two taxable bond funds, and one national tax-exempt bond fund.

Single-sector and country equity funds are factored into the rankings as general equity. We exclude all passive index funds, including pure index, enhanced index, and index-based, but include actively managed ETFs and so-called smart-beta ETFs, which are passively managed but created from active strategies.

Finally, the score is multiplied by the weighting of its general classification, as determined by the entire Lipper universe of funds. The category weightings for the one-year results in 2021 were general equity, 37.1%; mixed asset, 20.6%; world equity, 16.8%; taxable bond, 20.9%; and tax-exempt bond, 4.5%.

The category weightings for the five-year results were general equity, 37.3%; mixed asset, 21%; world equity, 16.5%; taxable bond, 20.8%; and tax-exempt bond, 4.4%. For the 10-year list, they were general equity, 38.6%; mixed asset, 19.2%; world equity, 16.9%; taxable bond, 20.5%; and tax-exempt bond, 4.8%

The scoring: Say a fund in the general U.S. equity category has $500 million in assets, accounting for half of the firm’s assets in that category, and its performance lands it in the 75th percentile for the category. The first calculation would be 75 times 0.5, which comes to 37.5. That score is then multiplied by 37.1%, general equity’s overall weighting in Lipper’s universe. So it would be 37.5 times 0.371, which equals 13.9. Similar calculations are done for each fund in our study. Then the numbers are added for each category and overall. The shop with the highest total score wins. The same process is repeated to determine the five- and 10-year rankings.

Source: Barron’s, 2/21/22. Overall, MainStay Funds ranked number 9 for the one-year period, 25 for the five-year period, and 31 for the 10-year period ended December 31, 2021, out of 51, 49, and 45 fund families, respectively. Past performance is no guarantee of future results, which will vary. For the most recent MainStay Funds performance, please visit our web site at newyorklifeinvestments.com.

The S&P 500 Index measures the performance of 500 widely held stocks in US equity market. Standard and Poor's chooses member companies for the index based on market size, liquidity and industry group representation. Included are the stocks of industrial, financial, utility, and transportation companies. Since mid 1989, this composition has been more flexible and the number of issues in each sector has varied. It is market capitalization-weighted.

The Morningstar Rating™ for funds, or "star rating", is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange-traded funds, closed-end funds, and separate accounts) with at least a three-year history. Exchange-traded funds and open-ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a managed product's monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance (this does not include the effects of sales charges, loads, and redemption fees). The top 10% of products in each product category receive 5stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar Rating metrics. The weights are: 100% three-year rating for 36-59 months of total returns, 60% five-year rating/40% three-year rating for 60-119 months of total returns, and 50% 10-year rating/30% five-year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.