- Summary & Performance
- Portfolio
- Fees & Expenses
There was no distribution for Marketfield Fund this year.
Marketfield Fund Ex-dividend date is December 28, 2020.
Fund Objective: Seeks capital appreciation.
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Investment Strategy and Process
The Fund seeks long-term growth of capital above that of the broad equity market over a full market cycle, with volatility that is lower than that of the broad equity market. Correlation between the Fund and the broad equity market may vary considerably over the course of an investment cycle.The Fund has a broad investment charter that allows it to allocate its assets among investments in equity securities, fixed-income instruments, commodities, futures, options, and other investment companies, including ETFs. Additionally, with respect to 50% of the Fund's net assets, the Fund may engage in short sales of securities to profit from an anticipated decline in the price of the security sold short.
Daily Prices (as of 06/14/21)
| Class | NAV | POP1 | Change | % Change | % YTD |
|---|---|---|---|---|---|
| I | 21.80 | 21.80 | -0.09 | -0.41 | 7.44 |
| A | 21.42 | 22.67 | -0.09 | -0.42 | 7.31 |
| C | 20.09 | 20.09 | -0.08 | -0.40 | 6.98 |
Gross Expense Ratios: Class I 2.66%, Class A 2.92%, Class C 3.68%
Performance data quoted represents past performance; past performance does not guarantee future
results. The investment return and principal value of an investment will fluctuate so that an
investor's shares, when redemmed, may be worth more or less than their original cost. Current
performance of the fund may be lower or higher than the performance quoted. Performance data
current to the most recent month end may be obtained by calling 800-311-MKTD (311-6583).
Performance data shown w/sales charges reflects the Class A maximum sales
charge of 5.50% and the Contingent Deferred Sales Charge of 1.00% for Class C Shares.
Performance data shown at NAV does not reflect the deduction of any sales load or CSDS.
If reflected, the load or fee would reduce the performance quoted.
Performance data for the classes varies based on differences in their fee and expense structures. The performance figures for Class I shares reflect the historical performance of the then-existing shares of MainStay Marketfield Fund (the predecessor to the Fund, for which the Adviser served as the investment sub-advisor) for periods from October 5, 2012 to April 8, 2016. The performance figures for Class I shares also reflect the historical performance of the then-existing shares of the predecessor fund to MainStay Marketfield Fund (which was subject to a different fee structure, and for which a predecessor entity to the Adviser served as the investment adviser) for periods prior to October 5, 2012. The returns in the table below for periods prior to October 5, 2012 have been calculated using the expenses of the predecessor fund to the MainStay Marketfield Fund. Performance figures for Class A and Class C shares, first offered on October 5, 2012, include the historical performance of Class I shares through October 4, 2012 and are adjusted to reflect differences in fees and expenses. Performance data for the classes varies based on differences in their fee and expense structures. The returns in the table below for periods prior to October 5, 2012 have been calculated using the expenses of the predecessor fund to the MainStay Marketfield Fund. Performance data for the classes varies based on differences in their fee and expense structures. Unadjusted, the performance for the newer classes would likely have been different because of differences in certain fees and expenses attributable to each share class.
Annual Performance
| Time Period | Class I | S&P 500 |
|---|---|---|
| 2007 (July 31-Dec31) | +3.80% | +0.90% |
| 2008 | -12.88% | -37.00% |
| 2009 | +31.08% | +26.46% |
| 2010 | +14.32% | +15.06% |
| 2011 | +3.70% | +2.11% |
| 2012 | +13.50% | +16.00% |
| 2013 | +16.93% | +32.39% |
| 2014 | -12.31% | +13.69% |
| 2015 | -8.31% | +1.38% |
| 2016 | -3.36% | +11.96% |
| 2017 | +21.20% | +21.83% |
| 2018 | -13.25% | -4.38% |
| 2019 | +12.13% | +31.49% |
| 2020 | +20.20% | +18.40% |
Fund Facts
| Class I | Class A | Class C | ||
|---|---|---|---|---|
| Inception Date | 07/31/2007 | 10/05/2012 | 10/05/2012 | |
| NASDAQ | MFLDX | MFADX | MFCDX | |
| CUSIP | 89834E245 | 89834E278 | 89834E252 | |
| Fund Number | 5127 | 5124 | 5126 | |
| Open to New Investors | Yes | |||
| Morningstar Category | US OE Long/Short Equity | |||
| Lipper Category | Alternative Global Macro Funds | |||
| Dividend Frequency | Annually | |||
| Benchmark | S&P 500 Index | |||
Before You Invest
Mutual fund investing involves risk. Principal loss is possible. The Fund invests in small and mid-cap companies, which involve additional risks such as limited liquidity and greater volatility. The Fund invests in foreign securities which involve greater volatility and political, economic and currency risks and differences in accounting methods. These risks are greater for investments in emerging markets. Investments in debt securities typically decrease in value when interest rates rise. This risk is usually greater for longer-term debt securities. Investment by the Fund in lower-rated and non-rated securities presents a greater risk of loss to principal and interest than higher-rated securities. Investments in asset-backed and mortgage-backed securities involve additional risks such as credit risk, prepayment risk, possible illiquidity and default, and increased susceptibility to adverse economic developments. The Fund regularly makes short sales of securities, which involve the risk that losses may exceed the original amount invested, however a mutual fund investor’s risk is limited to the amount invested in a fund. Investing in ETFs are subject to additional risks that do not apply to conventional mutual funds, including the risks that the market price of the shares may trade at a discount to its net asset value ("NAV"), an active secondary trading market may not develop or be maintained, or trading may be halted by the exchange in which they trade, which may impact a Funds ability to sell its shares. Derivatives involve special risks including correlation, counterparty, liquidity, operational, accounting and tax risks. These risks, in certain cases, may be greater than the risks presented by more traditional investments. The Fund may experience a portfolio turnover rate of over 100% and may generate short-term capital gains which are taxable.
Disclosure
1. POP (Public Offering Price) is the NAV (Net Asset Value) plus a sales charge. All POPs are subject to revision and include the maximum sales charge.
2. No sales charge applies to Class A share investments of $1,000,000 or more, but a CDSC of 1% may be imposed on certain redemptions of such shares within one year of the date of purchase.
3. Option delta is the relationship between the option price and the underlying price, which reflects the sensitivity of the price of the option to changes in the price of the underlying.
Investment Definitions
The S&P 500® Index is an unmanaged index and is widely regarded as the standard for measuring large-cap U.S. stock-market performance. Index results assume the reinvestment of all capital gain and dividend distributions. The securities holdings and volatility of the Fund differ significantly from the stocks that make up the S&P 500 Index. An investment cannot be made directly into an index.
Correlation is a statistical measure of the degree to which the movements of two variables (stock/option/convertible prices of returns) are related.