NYLI MacKay Short Duration High Income Fund
NEW YORK LIFE INVESTMENTS FUNDS TRUST · 5 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
NYLI MacKay Short Duration High Income Fund is an actively managed U.S. bond fund.
- Asset class
- Bonds
- Region
- United States
- Management
- Actively managed
- Fund type
- Open-end fund
- Credit quality
- High yield
- Rate sensitivity
- Short duration
Fund profile
As filed in the prospectus · 2026 Q1
The Fund seeks high current income. Capital appreciation is a secondary objective.
The fund invests at least 80% of its assets in high-yield debt securities rated below investment grade by a nationally recognized statistical rating organization, or unrated securities deemed comparable by the Subadvisor MacKay Shields LLC, which manages the fund day-to-day. The Subadvisor selects securities by analyzing individual companies' competitive position, financial condition, and business prospects, with emphasis on asset coverage and duration management to keep weighted average duration at three years or less. Because security selection depends on the Subadvisor's subjective judgments about asset coverage and issuer quality, fund returns will vary with the accuracy of those assessments.
| Share class | Gross | Net |
|---|---|---|
| MDHAX | 1.04% | 1.02% |
| MDHCX | 1.80% | 1.80% |
| MDHIX | 0.79% | 0.78% |
| MDHVX | 1.05% | 1.05% |
| MDHEX | 0.69% | 0.69% |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 33.00% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Bonds | 82.96% |
| Loans | 12.96% |
| Stocks | 0.58% |
Sector allocation
The same holdings as Allocation above, grouped by market sector instead of asset type · as of 2026 Q2
| Other | 55.1% |
| International | 14.9% |
| Consumer Discretionary | 6.4% |
| Communication Services | 4.2% |
| 9 smaller | 19.4% |
Government, Securitized and Cash are non-corporate buckets; International is foreign holdings we don’t sector-classify, and Other is the residual (held funds, unresolved names).
Latest quarter
What changed since the fund's previous filing
Largest new: 1011778 B.C. Unlimited Liability Co., Core Scientific Finance I LLC, SV RNO Property Owner 1 LLC, Talen Energy Supply LLC, PR RNO Property Owner 1 LLC, APLD ComputeCo 2 LLC, Black Pearl Compute LLC, PacifiCorp
Largest exited: T-Mobile USA, Inc., RHP Hotel Properties LP, Varex Imaging Corp., Performance Food Group, Inc., First Quantum Minerals Ltd., CCO Holdings LLC, Asurion LLC, Block Communications, Inc.
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +6.48% | +21.00% | +24.41% | 1.68% | -0.79% | |
| +5.67% | +18.23% | +19.67% | 1.77% | -0.91% | |
| +6.73% | +21.98% | +26.03% | 1.73% | -0.65% | |
| — | — | — | — | — | |
| +6.45% | +20.98% | +24.18% | 1.72% | -0.68% | |
| — | — | — | — | — |
Debt profile
What this fund holds — value-weighted across its bond and securitized long positions · as of 2026-04-30
Share of the fund's debt by how its coupon behaves — the fact that decides whether a rate move reaches this portfolio at all.
| Fixed rate | 83.6% |
| Floating rate | 16.4% |
Share of the fund's debt value in each maturity band, shortest first.
| <1y | 2.9% |
| 1-3y | 41.8% |
| 3-5y | 43.5% |
| 5-10y | 9.4% |
| 10y+ | 2.4% |
These three overlap — one holding can be in arrears and paying in kind at once — so they are shown separately and never summed.
Risk profile
Interest-rate and credit-spread sensitivity, both in years · as of 2026Q2
More of this fund’s sensitivity sits in credit spreads than in interest rates — a rate rally that comes with a credit selloff works against it.
Where the loss would come from. The two shocks are the same size, so this is the balance of the fund's two sensitivities rather than a bet on one moving more.
| Credit spreads | 57% |
| Interest rates | 43% |
Filers report the impact of a 0.01% move only, so the total is our own scaling of that one number and overstates the loss on most bonds — read it as approximate, never as precise. The two sensitivities overlap rather than add up: they measure the same positions against different shocks, which is why the durations above are shown side by side and never summed.
Share of the fund's spread duration carried by each credit tier.
| High yield | +2.21 yr |
| Investment grade | +0.05 yr |
Share of duration at each point, shortest first. A positive figure loses value when spreads widen; a negative one offsets — a credit hedge.
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.59 yr | 35% |
| 5 yr | 1.02 yr | 60% |
| 10 yr | 0.01 yr | 1% |
| 30 yr | 0.06 yr | 4% |
| 3 mo | 0.00 yr | 0% |
| 1 yr | 0.67 yr | 30% |
| 5 yr | 1.40 yr | 62% |
| 10 yr | 0.05 yr | 2% |
| 30 yr | 0.14 yr | 6% |
The two bands measure the same positions against different shocks and do not add — a Treasury carries rate duration and no spread duration, a floating-rate credit the reverse. Rate tenors are also summed across every currency the fund discloses.
Show the numbers
| Tenor | Rate yrs | IG yrs | HY yrs | IG $/bp | HY $/bp |
|---|---|---|---|---|---|
| 3 mo | +0.00 | +0.00 | +0.00 | $8 | $1.3k |
| 1 yr | +0.59 | +0.02 | +0.64 | $7.2k | $187.3k |
| 5 yr | +1.02 | +0.03 | +1.37 | $7.5k | $400.9k |
| 10 yr | +0.01 | +0.00 | +0.05 | $0 | $13.9k |
| 30 yr | +0.06 | +0.00 | +0.14 | $0 | $40.5k |
Dollar change per 1bp of spread movement, as filed and sign-anchored. A blank cell was not filed; a zero was.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Value | Shares |
|---|---|---|---|---|
| — | Great Outdoors Group LLC6.90% floating · due 2032-01-23 | 1.11% | $32.41M | — |
| — | Churchill Downs, Inc.5.50% · due 2027-04-01 | 1.01% | $29.48M | — |
| — | Cloud Software Group, Inc.6.50% · due 2029-03-31 | 0.94% | $27.49M | — |
| — | TransDigm, Inc.6.75% · due 2028-08-15 | 0.91% | $26.68M | — |
| — | Organon & Co.4.13% · due 2028-04-30 | 0.89% | $25.87M | — |
| — | TransDigm, Inc.6.38% · due 2029-03-01 | 0.84% | $24.48M | — |
| — | Big River Steel LLC6.63% · due 2029-01-31 | 0.74% | $21.68M | — |
| — | Jazz Securities DAC4.38% · due 2029-01-15 | 0.74% | $21.69M | — |
| — | Star Leasing Co. LLC7.63% · due 2030-02-15 | 0.71% | $20.64M | — |
| — | SS&C Technologies, Inc.5.50% · due 2027-09-30 | 0.70% | $20.53M | — |
Top 10 positions are 8.60% of net assets, top 25 18.05%, across 327 issuers.
See more of this fund's book
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