MainStay S&P 500 Index Fund

Fund Finder

Investment
Subadvisor

 

Founded in 1993, Cornerstone Capital Management is an investment manager with a broad array of quantitative and fundamental equity strategies across multiple capitalizations and styles including domestic and global long-only and absolute return strategies.

Portfolio Managers

  • Francis J. Ok
  • Fund's Manager:
    Since 1996

    Industry Experience:
    20 years

  • Lee Baker
  • Fund's Manager:
    Since 2008

    Industry Experience:
    16 years

  • Summary
  • Performance
  • Portfolio
  • Distributions
    & Yields
  • Fees &
    Expenses

Fund Objective: Seeks investment results that correspond to the total return performance (reflecting reinvestment of dividends) of common stocks in the aggregate, as represented by the S&P 500 Index.

  • Investment Strategy and Process
    The Fund normally invests at least 80% of its total assets in stocks as represented in the S&P 500 Index in the same proportion, to the extent feasible.

    The portfolio is managed to track changes in the composition of the Index, including additions, deletions, and capitalization changes.

    The Fund's investments may also include options and futures contracts that are used for cash management purposes.

    + Read More

Class A & INV: 3% maximum initial sales charge. Class I: No initial sales charge or CDSC. Total annual operating expenses are: Class A: 0.65%, INV: 0.83%, I: 0.40%. Total annual operating expenses after recoupments/waivers/reimbursements are: Class A: 0.60%, INV: 0.78%, I: 0.35%.

Performance data quoted represents past performance. Past performance is no guarantee of future results. Due to market volatility, current performance may be less or higher than the figures shown. Investment return and principal value will fluctuate so that upon redemption, shares may be worth more or less than their original cost. Performance figures reflect a contractual fee waiver and/or expense limitation agreement in effect through 2/28/15, without which total returns may have been lower. This agreement shall 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. There is also a voluntary fee waiver and/or expense limitation for Investor Class shares, which may be discontinued at any time without notice.

Style Box
Before You Invest

The Fund may invest in derivatives, which may increase the volatility of the Fund’s net asset value and may result in a loss to the Fund. Unlike other funds, which generally seek to “beat” the market, Index Funds seek to match their respective indices. If the value of the Index declines, the net asset value of shares of the Fund will also decline. The Fund’s ability to mirror the Index may be affected by, among other things, transaction costs, changes in either the makeup of the Index or the number of shares outstanding for the components of the Index, and the timing and amount of contributions to, and redemptions from, the Fund by shareholders.

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. Average annual total returns include the change in share price and reinvestment of dividends and capital gain distributions. Performance for Class A shares includes the historical performance of Class I shares from inception (1/2/91) through 12/31/03 adjusted to reflect the applicable sales charge and fees and expenses. Performance for Investor Class shares includes the historical performance of Class A shares from inception through 2/27/08 adjusted to reflect the applicable fees and expenses. Class I shares are generally available only to corporate and institutional investors.

4. No sales charge applies to Class A and Investor Class share investments of $1,000,000 or more ($500,000 for MainStay Floating Rate, High Yield Municipal Bond, New York Tax Free Opportunities, Short Duration High Yield, and Tax Free Bond Funds), but a CDSC of 1% may be imposed on certain redemptions of such shares within one year (18 months for Mainstay Short Duration High Yield Fund) of the date of purchase.

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. An investment cannot be made directly into an index.

The P/E Ratio (price-to-earnings) denotes the weighted average of all the P/Es of the securities in the Fund's portfolio. The P/B Ratio (price-to-book) is the weighted average of all the P/Bs of the securities in the Fund's portfolio. Return on Equity (ROE) is the weighted average of all the ROEs of the securities in the Fund's portfolio. ROE is calculated by dividing net income by book value. 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. 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. Alpha measures a fund's risk-adjusted performance and is expressed as an annualized percentage. R-Squared measures the percentage of a fund's movements that result from movements in the index. The Sharpe Ratio shown is calculated for the past 36-month period by dividing annualized excess returns by annualized standard deviation. The Annual Turnover Rate is as of the most recent annual shareholder report. Upside/Downside Market Capture measures a manager's performance in up/down markets relative to the Fund's benchmark.