# NYLI MacKay Convertible Fund;I (MCNVX): Mutual Fund Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/mcnvx for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: New York Life / NYLI · Asset class: Equity - Strategy: Single-Stock · Inception: 2008-11-28 This fund is designed to achieve two main objectives: growth in its capital value and the generation of ongoing income. Typically, the fund allocates a minimum of 80% of its total assets (inclusive of any borrowed capital for investment purposes) to "convertible securities." This category generally encompasses debt instruments like bonds, debentures, and corporate notes, as well as preferred stocks or other financial instruments that can be exchanged for common stock, or for the cash equivalent value of a single stock, a group of stocks, or an equity index. The remainder of the portfolio ma... ## Key Facts | Metric | Value | |---|---| | Price | $22.75 | | Expense Ratio | 0.61% | | AUM (All Share Classes) | $1.83B | | NAV | $22.75 (2026-10-30 close) | | Holdings Count | — | | Distribution Yield (TTM) | 7.65% | | Annual Distribution (TTM) | $1.74 /share | | Distribution Frequency | Quarterly | | 52-Week Range | $19.60 – $24.10 | | Beta | 0.91 | ## Latest Distribution - Amount: $0.0763 /share - Ex-date: 2026-09-30 - Pay date: 2026-09-30 ## Frequently Asked Questions ### What does MCNVX invest in? This fund is designed to achieve two main objectives: growth in its capital value and the generation of ongoing income. Typically, the fund allocates a minimum of 80% of its total assets (inclusive of any borrowed capital for investment purposes) to "convertible securities." This category generally encompasses debt instruments like bonds, debentures, and corporate notes, as well as preferred stocks or other financial instruments that can be exchanged for common stock, or for the cash equivalent value of a single stock, a group of stocks, or an equity index. The remainder of the portfolio may be deployed in non-convertible debt instruments, equity securities that do not provide regular dividends, U.S. government-backed securities, or cash and highly liquid equivalents. ### What is the expense ratio of MCNVX? NYLI MacKay Convertible Fund;I (MCNVX) charges an expense ratio of 0.61%. This is the annual fee deducted from fund assets to cover management and operations. ### How big is MCNVX? NYLI MacKay Convertible Fund;I (MCNVX) is one share class of a fund that manages $1.83B across all of its share classes (MCINX reports the same total). Our data does not carry the assets of this share class alone. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation. ### Is MCNVX actively managed or an index fund? MCNVX's management style is described in the fund's prospectus. See the description on the Summary tab for the published strategy. ### When was MCNVX launched? NYLI MacKay Convertible Fund;I (MCNVX) launched in November 2008 and is managed by New York Life / NYLI. ### How has MCNVX performed? MCNVX's total return (price change plus reinvested distributions) is charted at the top of this page. Switch the price chart to Total Return and pick a 1-year, 3-year, 5-year, or 10-year window to read the compound annual growth rate (CAGR) over each horizon. ### Does MCNVX pay a dividend? NYLI MacKay Convertible Fund;I (MCNVX) currently distributes little or no income. Trailing-twelve-month yield is 7.65%. Investors looking for income should consider income-focused alternatives. See the Peers tab. ### How often does MCNVX pay dividends? NYLI MacKay Convertible Fund;I pays dividends Quarterly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### What is MCNVX's dividend yield? MCNVX's trailing-twelve-month yield is 7.65%, calculated from the sum of dividends over the past year divided by the current price. ### When is MCNVX's next ex-dividend date? The most recently announced ex-dividend date for MCNVX was 2026-09-30. The next ex-date typically follows Quarterly; once announced it appears at the top of the dividend history table on this page. ### How much will MCNVX's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.61% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does MCNVX charge its expense ratio? The expense ratio is deducted in tiny daily slices from MCNVX's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does MCNVX cost more than a fund like VOO? MCNVX's strategy (current expense ratio 0.61%) is different from a broad-market index tracker like VOO, so its fee belongs to a different cohort. The Cost Verdict card above shows you where MCNVX sits within its own category, which is the comparison that actually matters. ### Are there cheaper alternatives to MCNVX? The Lower-Fee Alternatives card above lists mutual funds following the same investment strategy as MCNVX (0.61%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/mcnvx - Distribution history: https://www.dividenddata.com/funds/mcnvx/dividend - Holdings & diversification: https://www.dividenddata.com/funds/mcnvx/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/mcnvx/expenses - Peer comparison: https://www.dividenddata.com/funds/mcnvx/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.