NYLI MacKay DefinedTerm Muni Opportunities Fund Shs of Beneficial Interest

Frequently Asked Questions About MMD

What does MMD invest in?

The MainStay DefinedTerm Municipal Opportunities Fund operates as a specialized closed-end investment vehicle, concentrating on fixed income securities. It is established and overseen by New York Life Investment Management LLC, with MacKay Shields LLC sharing co-management responsibilities. The fund primarily directs its capital toward U.S. debt markets, specifically focusing on high-quality municipal bonds that offer exemption from ordinary U.S. federal income taxation. Its performance is gauged against the Barclays Municipal Bond Index. This fund was initiated on June 26, 2012, and is domiciled within the United States.

What is the expense ratio of MMD?

NYLI MacKay DefinedTerm Muni Opportunities Fund Shs of Beneficial Interest (MMD) charges an expense ratio of 2.72%. This is the annual fee deducted from fund assets to cover management and operations.

What is MMD's dividend yield?

MMD's trailing-twelve-month yield is 5.17%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of MMD?

Effective duration measures MMD's sensitivity to interest-rate changes — a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. MMD's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of MMD?

MMD's credit quality breakdown — the share of holdings rated AAA through CCC and below — is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of MMD?

Yield to maturity (YTM) is the total return you'd earn from MMD if every bond in the portfolio is held to maturity at the current price. MMD's YTM is published on the fund's factsheet on the issuer's website — it differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.