Products & Performance

   

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 for all Funds reflect contractual waivers and/or expense limitations, without which total returns may have been lower. These limitations may be modified or terminated only with Board approval.

  • Daily Prices/Fact Sheets
  • Performance
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Disclosure

Total (Gross) and Net Annual Operating Expenses shown are from the most recent Fund prospectus fee table. Net annual operating expenses reflect contractual waivers and/or expense limitations. Total annual operating expenses are absent the waivers and/or limitations.

Class A and Investor Class shares of the following MainStay Funds are sold with a maximum initial sales charge of 5.5% and have an annual 12b-1 fee of 0.25%: Balanced, Common Stock, Conservative Allocation, Convertible, Cornerstone Growth, Epoch Global Choice, Epoch Global Equity Yield, Epoch International Small Cap, Epoch U.S. All Cap, Epoch U.S. Equity Yield, Growth Allocation, ICAP Equity, ICAP Global, ICAP International, ICAP Select Equity, Income Builder, International Equity, International Opportunities, Large Cap Growth, MAP, Marketfield, Moderate Allocation, Moderate Growth Allocation, U.S. Equity Opportunities, and U.S. Small Cap Funds.

Class A and Investor Class shares of the following MainStay Funds are sold with a maximum initial sales charge of 4.5% and have an annual 12b-1 fee of 0.25%: California Tax Free Opportunities, Global High Income, Government, High Yield Corporate Bond, High Yield Municipal Bond, High Yield Opportunities, Intermediate Term Bond, New York Tax Free Opportunities, Tax Free Bond, and Unconstrained Bond Funds.

Class A and Investor Class shares of the following MainStay Funds are sold with a maximum initial sales charge of 3% and have an annual 12b-1 fee of 0.25%: Floating Rate, Indexed Bond, S&P 500 Index, Short Duration High Yield, and Short Term Bond Funds.

Investment minimums: Class A share minimum initial investment is $25,000. Investor Class, Class B, and Class C share minimum initial investment is $1,000 ($2,500 for MainStay California Tax Free Opportunities, Cornerstone Growth, Epoch Global Choice, Epoch Global Equity Yield, Epoch International Small Cap, Epoch U.S. Equity Yield, High Yield Municipal Bond, Marketfield, New York Tax Free Opportunities, and Short Duration High Yield Funds).

Class B shares are sold with no initial sales charge, are subject to a CDSC of up to 5% (3% for MainStay Floating Rate Fund) if redeemed within the first six years of purchase (four years for MainStay Floating Rate Fund), and have an annual 12b-1 fee of 1% (0.5% for MainStay California Tax Free Opportunities, New York Tax Free Opportunities, and Tax Free Bond Funds). Class B shares of MainStay Cornerstone Growth Fund are closed to new investors.

Class C shares are sold with no initial sales charge, are subject to a CDSC of 1% if redeemed within one year of purchase, and have an annual 12b-1 fee of 1% (0.5% for MainStay California Tax Free Opportunities, New York Tax Free Opportunities, and Tax Free Bond Funds).

Class I shares are sold with no initial sales charge or CDSC, have no annual 12b-1 fee, and are generally available to corporate and institutional investors with a minimum initial investment of $5 million.

Class R1 and Class R6 shares are sold with no initial sales charge or CDSC, have no annual 12b-1 fee, and are available only through corporate-sponsored retirement programs, which include certain minimum program requirements.

Class R2 shares are sold with no initial sales charge or CDSC, have an annual 12b-1 fee of 0.25%, and are available only through corporate-sponsored retirement programs, which include certain minimum program requirements.

Class R3 shares are sold with no initial sales charge or CDSC, have an annual 12b-1 fee of 0.50%, and are available only through corporate-sponsored retirement programs, which include certain minimum program requirements.

Class P shares are only available to investors purchasing shares through a no-load transaction fee network or platform that has entered into an agreement with NYLIFE Distributors LLC, the Fund's principal underwriter and distributor or its affiliates to offer Class P shares through a no-load transaction fee network or platform.

Performance shown at NAV is based on total returns with reinvestment of capital gain and dividend distributions and does not reflect the effect of any sales charges or non-recurring fees, which, if reflected, would reduce performance shown.

SEC average annual total returns shown include the maximum sales charge (set forth above) and show the percentage change for each of the required periods with capital gain and dividend distributions reinvested.

Gross and Net Operating Expenses shown are from the most recent Fund prospectus fee table. Gross expenses are the total annual Fund operating expenses. Net expenses are the total annual Fund operating expenses after any recoupments, waivers, and/or reimbursements. MainStay Balanced, Common Stock, Convertible, Epoch Global Equity Yield, Epoch U.S. All Cap, Floating Rate, Global High Income, High Yield Corporate Bond, Income Builder, International Equity, MAP, U.S. Small Cap, and Unconstrained Bond Funds have no fee waiver or expense limitations in effect except as follows: there is a voluntary fee waiver and/or expense limitation for Class B, C, and Investor Class shares of MainStay Common Stock and International Equity Funds, which may be discontinued at any time without notice. Net expenses for MainStay Marketfield Fund Class I shares and MainStay Cornerstone Growth Fund Class A and I shares reflect a contractual fee waiver and/or expense limitation agreement in effect for two years (through 10/1/14 for MainStay Marketfield Fund and through 11/1/14 for MainStay Cornerstone Growth Fund) unless extended by New York Life Investments and approved by the Fund's Board. MainStay Cornerstone Growth Fund also has a voluntary fee waiver and/or expense limitation in effect through 2/28/14 unless terminated earlier by New York Life Investments or the Fund’s Board. Net expenses for the following MainStay Funds reflect contractual fee waiver and/or expense limitation agreements in effect through 2/28/14 which 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 Funds' Board: MainStay California Tax Free Opportunities, Conservative Allocation, Epoch Global Choice, Epoch International Small Cap, Epoch U.S. Equity Yield, Government, Growth Allocation, High Yield Municipal Bond, High Yield Opportunities, ICAP Equity (Class I only), ICAP Global, ICAP International (Class I only), ICAP Select Equity (Class A and I only), Indexed Bond, Intermediate Term Bond (Class I only), International Opportunities, Large Cap Growth (Class I only), Moderate Allocation, Moderate Growth Allocation, Money Market, New York Tax Free Opportunities, S&P 500 Index, Short Duration High Yield, Short Term Bond, Tax Free Bond, and U.S. Equity Opportunities Funds. Additionally, there are voluntary fee waiver and/or expense limitations in place as follows: MainStay ICAP Equity Fund (Class C, R1, and Investor Class); MainStay ICAP International Fund (Class R1); MainStay ICAP Select Equity Fund (Class R1 and R2); MainStay Intermediate Term Bond Fund (Class R1 and R2); MainStay International Opportunities Fund (Class C and Investor Class); MainStay Large Cap Growth Fund (Class R1); MainStay S&P 500 Index Fund (Investor Class); and MainStay U.S. Equity Opportunities Fund (Class C and Investor Class). These voluntary fee waiver and/or expense limitation may be discontinued at any time without notice.

Since inception return is quoted for Funds with less than 10 years of operating history.

MainStay Cornerstone Growth Fund: Effective 1/11/13, Keystone Large Cap Growth Fund was reorganized with and into MainStay Cornerstone Growth Fund. Performance for Clas A and Class I shares reflect the historical performance of the then-existing Class A and Class I shares of Keystone Large Cap Growth Fund (which was subject to a different fee structure) for periods prior to 1/11/13. Performance for Class B, C, R2, and Investor Class shares includes the historical performance of Class A shares from inception (8/7/06) through 1/11/13 adjusted to reflect differences in fees and expenses.

MainStay Epoch U.S. All Cap Fund: Performance for Class A, B, and C shares includes the historical performance of the Fund's Class I shares from inception (1/2/91) through 12/31/03 adjusted to reflect the applicable fees and expenses. Performance for Investor Class shares includes the adjusted historical performance of Class A shares from inception through 2/27/08.

MainStay Epoch U.S. Equity Yield Fund:  Effective after the close of business 11/13/09, Epoch U.S. Large Cap Equity Fund was reorganized as MainStay Epoch U.S. Equity Fund. Performance for Class A and I shares, reflects the performance of the Class P and Institutional Class shares, respectively, of Epoch U.S. Large Cap Equity Fund (which was subject to a different fee structure) adjusted to reflect sales charges, but not fees and expenses; absent these adjustments, performance may have been lower. Performance for Class C and Investor Class shares includes the performance of Class I shares from inception (12/3/08) through 11/15/09 adjusted to reflect the applicable fees and expenses. Effective 9/17/12, MainStay Epoch U.S. Equity Fund was renamed MainStay Epoch U.S. Equity Yield Fund. At that time, the Fund changed its investment objective and principal investment strategy.

MainStay ICAP Equity Fund, MainStay ICAP International Fund, MainStay ICAP Select Equity Fund: Effective 9/1/06, ICAP Equity Fund, ICAP International Fund, and ICAP Select Equity Fund were renamed MainStay ICAP Equity Fund, MainStay ICAP International Fund, and MainStay ICAP Select Equity Fund, respectively. At that time, each Fund's existing no-load shares were redesignated Class I shares. Performance for Class A, C, R1, R2, and R3 shares of each Fund includes the historical performance of each respective Fund's Class I shares from inception (12/31/94 for ICAP Equity Fund and 12/31/97 for ICAP International and ICAP Select Equity Funds) through 8/31/06 adjusted to reflect the applicable fees and expenses. Performance for Investor Class shares of each Fund includes the adjusted historical performance of each respective Fund's Class A shares from Fund inception through 4/28/08. Performance for Class B shares of MainStay ICAP Select Equity Fund includes the adjusted historical performance of the Fund's Class I shares from the Fund's inception through 11/12/09.

MainStay Large Cap Growth Fund: Effective after close of business January 13, 2012, MainStay Large Cap Growth Fund was closed to new investors. Existing shareholders may continue to purchase additional Fund shares, as well as certain employee benefit and retirement plans and other existing fee-based or wrap programs. Please see the Fund's prospectus for more information on eligibility. Effective 4/1/05, FMI Winslow Growth Fund was reorganized as MainStay Large Cap Growth Fund Class A shares. Performance for MainStay Large Cap Growth Fund Class A shares includes the historical performance of the FMI Winslow Growth Fund from inception (7/1/95) through 3/31/05 adjusted to reflect the current applicable maximum sales charge and fees and expenses. Performance for Class B, C, I, R1, R2, R3, and Investor Class shares includes the historical performance of Class A shares from inception through 3/31/05 for Class B, C, I, R1, and R2 shares; through 4/27/06 for Class R3 shares; and through 2/27/08 for Investor Class shares, adjusted to reflect the applicable fees and expenses.

MainStay Indexed Bond Fund, S&P 500 Index Fund,  and MainStay Short Duration High Yield Fund: Performance for Class A shares includes the historical performance of the Fund's Class I shares from inception (1/2/91) through 12/31/03 adjusted to reflect the applicable fees and expenses. Performance for Investor Class shares includes the adjusted historical performance of Class A shares from inception through 2/27/08.

MainStay U.S. Equity Opportunities Fund:  Effective 2/28/13, MainStay 130/30 Core Fund was renamed MainStay U.S. Equity Opportunities Fund. Performance for Investor Class shares includes the historical performance of Class A shares from inception (6/29/07) through 2/27/08 adjusted to reflect the applicable fees and expenses.

MainStay U.S. Small Cap Fund: Performance for Class A, B, R1, and R2 shares includes the historical performance of the Fund's Class I shares from inception (1/12/87) through 12/31/03 for Class A and B shares, and through 7/30/12 for Class R1 and R2 shares, adjusted to reflect the applicable fees and expenses. Prior to 1/1/04, the Fund offered Class L shares, which were subject to a 1% sales charge and a 1% CDSC on redemptions within one year of purchase. Performance for Class L shares includes the historical performance of the Class I shares from inception through 12/29/02 adjusted to reflect the applicable fees and expenses. Effective 1/1/04, all outstanding Class L shares of the Fund were converted and/or redesignated Class C shares. Performance for Investor Class shares includes the adjusted historical performance of Class A shares from inception through 2/27/08.

MainStay Epoch Global Choice Fund: Effective after the close of business 11/13/09, Epoch U.S. All Cap Equity Fund was reorganized as MainStay Epoch Global Choice Fund. Performance for Class A and I shares reflects the performance of the Class P and Institutional Class shares, respectively, of Epoch U.S. All Cap Equity Fund (which was subject to a different fee structure) adjusted to reflect sales charges, but not fees and expenses; absent these adjustments performance may have been lower. Performance for Class C and Investor Class shares includes the performance of Class I shares from inception (7/25/05) through 11/15/09 adjusted to reflect the applicable fees and expenses.

MainStay Epoch Global Equity Yield Fund: Effective after the close of business 11/13/09, Epoch Global Equity Shareholder Yield Fund was reorganized as MainStay Epoch Global Equity Yield Fund. Performance for Class A and I shares reflects the performance of the Class P and Institutional Class shares, respectively, of Epoch Global Equity Shareholder Yield Fund (which was subject to a different fee structure) adjusted to reflect sales charges, but not fees and expenses; absent these adjustments performance may have been lower. Performance for Class C and Investor Class shares includes the performance of Class I shares from inception (12/27/05) through 11/15/09 adjusted to reflect the applicable fees and expenses.

MainStay Epoch International Small Cap Fund: Effective after the close of business 11/13/09, Epoch International Small Cap Fund was reorganized as MainStay Epoch International Small Cap Fund. Performance for Class A and I shares reflects the performance of the Class P and Institutional Class shares, respectively, of Epoch International Small Cap Fund (which was subject to a different fee structure) adjusted to reflect sales charges, but not fees and expenses; absent these adjustments performance may have been lower. Performance for Class C and Investor Class shares includes the performance of Class I shares from inception (1/25/05) through 11/15/09 adjusted to reflect the applicable fees and expenses.

MainStay International Equity Fund: Performance for Class A, C, I, R1, R2, and R3 shares includes the historical performance of the Fund's Class B shares from inception (9/13/94) through 12/31/94 for Class A shares, through 8/31/98 for Class C shares, through 12/31/03 for Class I, R1, and R2 shares, and through 4/27/06 for Class R3, adjusted to reflect the applicable fees and expenses. Performance for Investor Class shares includes the adjusted historical performance of Class A shares from inception through 2/27/08.

MainStay International Opportunities Fund: Effective 2/28/13, MainStay 130/30 International Fund was renamed MainStay International Opportunities Fund. Performance for Investor Class shares includes the historical performance of Class A shares from inception (9/28/07) through 2/27/08 adjusted to reflect the applicable fees and expenses.

MainStay Government Fund: Performance for Class A, C, and I shares includes the historical performance of the Fund's Class B shares from inception (5/1/86) through 12/31/94 for Class Ashares, through 8/31/98 for Class C shares, and through 12/31/03 for Class I shares, adjusted to reflect the applicable fees and expenses. Performance for Investor Class shares includes the adjusted historical performance of Class A shares from inception through 2/27/08.

MainStay High Yield Corporate Bond Fund: Performance for Class A, C, I, R1, and R2 shares includes the historical performance of the Fund's Class B shares from inception (5/1/86) through 12/31/94 for Class A shares, through 8/31/98 for Class Cshares, through 12/31/03 for Class I shares, through 4/30/08 for R2 shares, and through 6/29/12 for R1 shares, adjusted to reflect the applicable fees and expenses. Performance for Investor Class shares includes the adjusted historical performance of Class A shares from inception through 2/27/08.

MainStay Intermediate Term Bond Fund:  Performance for Class A, B, C, R1, and R2 shares includes the historical performance of the Fund's Class I shares from inception (1/2/91) through 12/31/03 for Class A, B, and C shares, and through 6/28/12 for Class R1 and R2 shares, adjusted to reflect the applicable fees and expenses. Performance for Investor Class shares includes the adjusted historical performance of Class A shares from inception through 2/27/08.

 

MainStay Unconstrained Bond Fund:   Effective 2/28/13, MainStay Flexible Bond Fund was renamed MainStay Unconstrained Bond Fund. Performance for Class C shares includes the historical performance of the Fund's Class B shares from inception (2/28/97) through 8/31/98 adjusted to reflect the applicable fees and expenses. Performance for Class I and Investor Class shares includes the adjusted historical performance of Class A shares from inception through 12/31/03 for Class I shares, and through 2/27/08 for Investor Class shares.

MainStay California Tax Free Opportunities Fund, MainStay High Yield Municipal Bond Fund, MainStay New York Tax Free Opportunities Fund, and MainStay Tax Free Bond Fund:   The Fund is not available in Retirement Services products.

MainStay California Tax Free Opportunities Fund: The Fund is available for sale to CA, NV, OR, WA, AZ, and UT residents only.

MainStay New York Tax Free Opportunities Fund: The Fund is available for sale to NY, NJ, CT, MA, VT, FL, and DE residents only.

MainStay Tax Free Bond Fund:  Performance for Class A, C, and I shares includes the historical performance of the Fund's Class B shares from inception (5/1/86) through 12/31/94 for Class A shares, through 8/31/98 for Class C shares, and through 12/20/09 for Class I shares, adjusted to reflect the applicable fees and expenses. Performance for Investor Class shares includes the adjusted historical performance of Class A shares from inception through 2/27/08.

MainStay Balanced Fund:   Performance for Class A, B, R1, R2, and R3 shares includes the historical performance of the Fund's Class I shares from inception (5/1/89) through 12/31/03 for Class A, B, R1, and R2 shares, and through 4/27/06 for Class R3 shares, adjusted to reflect the applicable fees and expenses. Prior to 1/1/04, the Fund offered Class L shares, which were subject to a 1% sales charge and a 1% CDSC on redemptions within one year of purchase. Performance for Class L shares includes the historical performance of the Class I shares from inception through 12/29/02 adjusted to reflect the applicable fees and expenses. Effective 1/1/04, all outstanding Class L shares of the Fund were converted and/or redesignated Class C shares. Performance for Investor Class shares includes the adjusted historical performance of Class A shares from inception through 2/27/08.

MainStay Convertible Fund: Performance for Class A, C, and I shares includes the historical performance of the Fund's Class B shares from inception (5/1/86) through 12/31/94 for Class A shares, through 8/31/98 for Class C shares, and through 11/27/08 for Class I shares, adjusted to reflect the applicable fees and expenses. Performance for Investor Class shares includes the adjusted historical performance of Class A shares from inception through 2/27/08.

MainStay Income Builder Fund: Performance for Class A, C, and I shares includes the historical performance of the Fund's Class B shares from inception (12/29/87) through 12/31/94 for Class A shares, through 8/31/98 for Class C shares, and through 12/31/03 for Class I shares, adjusted to reflect the applicable fees and expenses. Performance for Investor Class shares includes the adjusted historical performance of Class A shares from inception through 2/27/08.

MainStay Marketfield Fund: Effective 10/8/12, Marketfield Fund was renamed MainStay Marketfield Fund. At that time, the Fund's existing no-load shares were redesignated Class I shares. Performance for Class I shares reflects the historical performance of the then-existing shares of Marketfield Fund (which was subject to a different fee structure) for periods prior to 10/8/12. Performance for Class A, C, R2, and Investor Class shares includes the historical performance of Class I shares from inception (7/31/07) through 10/7/12 adjusted to reflect differences in fees and expenses.

MainStay Conservative Allocation Fund, MainStay Growth Allocation Fund, MainStay Moderate Growth Allocation Fund, and MainStay Moderate Allocation Fund: The Fund is a "fund of funds" that invests in shares of other mutual funds within the MainStay Family of Funds (the underlying funds). Fund performance depends on the advisor's skill in determining the asset-class allocations and the mix of underlying MainStay Funds, as well as the performance of those underlying Funds. The underlying Funds' performance may be lower than the performance of the asset class which they were selected to represent. The Fund may invest more than 25% of its assets in one underlying Fund, which may significantly affect net asset value of the Fund. Also, the cost of investing in this type of Fund may be higher than the cost of investing in a mutual fund that invests directly in individual stocks and bonds. By investing in the Fund, you will indirectly bear fees and expenses charged by the underlying Funds in which the Fund invests in addition to the Fund's direct fees and expenses. Performance for Investor Class shares includes the historical performance of Class A shares from inception (4/4/05) through 2/27/08 adjusted to reflect the applicable fees and expenses.

MainStay Common Stock Fund:  Performance for Class C shares includes the historical performance of the Fund's Class B shares from inception (6/1/98) through 8/31/98 adjusted to reflect the applicable fees and expenses. Performance for Class I and Investor Class shares includes the adjusted historical performance of Class A shares from inception through 12/27/04 for Class I shares, and through 2/27/08 for Investor Class shares.

MainStay MAP Fund:  Performance for Class R1, R2, R3, and Investor Class shares includes the historical performance of the Fund's Class A shares from inception (6/9/99) through 12/31/03 for Class R1 and R2 shares, through 4/27/06 for Class R3 shares, and through 2/27/08 for Investor Class shares, adjusted to reflect the applicable fees and expenses. Effective 6/9/99, MAP-Equity Fund was reorganized as MainStay MAP Fund Class I shares. Performance for MainStay MAP Fund Class I shares includes the performance of MAP-Equity Fund from inception (1/21/71) through 6/8/99. Prior to the reorganization, shares of MAP-Equity Fund were subject to a maximum 4.75% sales charge.

MainStay Floating Rate Fund:  Performance for Investor Class shares includes the historical performance of Class A shares from inception (5/3/04) through 2/27/08 adjusted to reflect the applicable fees and expenses.

MainStay Global High Income Fund:  Performance for Class C shares includes the historical performance of the Fund's Class B shares from inception (6/1/98) through 8/31/98 adjusted to reflect the applicable fees and expenses. Performance for Class I and Investor Class shares includes the adjusted historical performance of Class A shares from inception through 8/30/07 for Class I shares, and through 2/27/08 for Investor Class shares.

MainStay High Yield Opportunities Fund: Performance for Investor Class shares includes the historical performance of Class A shares from inception (12/14/07) through 2/27/08 adjusted to reflect the applicable fees and expenses.

MainStay Epoch U.S. All Cap Fund, MainStay Indexed Bond Fund, MainStay Intermediate Bond Fund, and S&P 500 Index Fund: Effective 1/1/04, the Fund changed the name of the No-Load Class shares to the Class I.

Morningstar Ratings

MainStay Balanced Fund Class C Shares rated four stars overall for the period ended 03/31/2014 from among 742 US OE Moderate Allocation funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class C Shares rated four stars, four stars and three stars, for the three-, five- and ten-year periods ended 03/31/2014 from among 742, 666 and 437 US OE Moderate Allocation funds, respectively. Ratings shown for Class C only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Balanced Fund Class I Shares rated four stars overall for the period ended 03/31/2014 from among 742 US OE Moderate Allocation funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class I Shares rated five stars, four stars and four stars, for the three-, five- and ten-year periods ended 03/31/2014 from among 742, 666 and 437 US OE Moderate Allocation funds, respectively. Ratings shown for Class I only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Balanced Fund Class R1 Shares rated four stars overall for the period ended 03/31/2014 from among 742 US OE Moderate Allocation funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class R1 Shares rated five stars, four stars and four stars, for the three-, five- and ten-year periods ended 03/31/2014 from among 742, 666 and 437 US OE Moderate Allocation funds, respectively. Ratings shown for Class R1 only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Balanced Fund Class R2 Shares rated four stars overall for the period ended 03/31/2014 from among 742 US OE Moderate Allocation funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class R2 Shares rated five stars, four stars and three stars, for the three-, five- and ten-year periods ended 03/31/2014 from among 742, 666 and 437 US OE Moderate Allocation funds, respectively. Ratings shown for Class R2 only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Balanced Fund Class R3 Shares rated four stars overall for the period ended 03/31/2014 from among 742 US OE Moderate Allocation funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class R3 Shares rated four stars and four stars, for the three- and five-year periods ended 03/31/2014 from among 742 and 666 US OE Moderate Allocation funds, respectively. Ratings shown for Class R3 only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Common Stock Fund Class I Shares rated four stars overall for the period ended 03/31/2014 from among 1361 US OE Large Blend funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class I Shares rated five stars and three stars, for the three- and five-year periods ended 03/31/2014 from among 1361 and 1219 US OE Large Blend funds, respectively. Ratings shown for Class I only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Conservative Allocation Fund Class I Shares rated four stars overall for the period ended 03/31/2014 from among 562 US OE Conservative Allocation funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class I Shares rated five stars and four stars, for the three- and five-year periods ended 03/31/2014 from among 562 and 488 US OE Conservative Allocation funds, respectively. Ratings shown for Class I only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Epoch Global Choice Fund Class C Shares rated four stars overall for the period ended 03/31/2014 from among 804 US OE World Stock funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class C Shares rated four stars for the three-year period ended 03/31/2014 from among 804 US OE World Stock funds. Ratings shown for Class C only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Epoch Global Equity Yield Fund Class C Shares rated four stars overall for the period ended 03/31/2014 from among 804 US OE World Stock funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class C Shares rated four stars for the three-year period ended 03/31/2014 from among 804 US OE World Stock funds. Ratings shown for Class C only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Epoch Global Equity Yield Fund Class I Shares rated four stars overall for the period ended 03/31/2014 from among 804 US OE World Stock funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class I Shares rated five stars and four stars, for the three- and five-year periods ended 03/31/2014 from among 804 and 642 US OE World Stock funds, respectively. Ratings shown for Class I only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Epoch Global Equity Yield Fund Class INV Shares rated four stars overall for the period ended 03/31/2014 from among 804 US OE World Stock funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class INV Shares rated four stars for the three-year period ended 03/31/2014 from among 804 US OE World Stock funds. Ratings shown for Class INV only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Global High Income Fund Class I Shares rated four stars overall for the period ended 03/31/2014 from among 144 US OE Emerging Markets Bond funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class I Shares rated four stars and four stars, for the three- and five-year periods ended 03/31/2014 from among 144 and 99 US OE Emerging Markets Bond funds, respectively. Ratings shown for Class I only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay High Yield Corporate Bond Fund Class I Shares rated four stars overall for the period ended 03/31/2014 from among 550 US OE High Yield Bond funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class I Shares rated four stars, three stars and four stars, for the three-, five- and ten-year periods ended 03/31/2014 from among 550, 469 and 332 US OE High Yield Bond funds, respectively. Ratings shown for Class I only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay High Yield Municipal Bond Fund Class C Shares rated four stars overall for the period ended 03/31/2014 from among 153 US OE High Yield Muni funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class C Shares rated four stars for the three-year period ended 03/31/2014 from among 153 US OE High Yield Muni funds. Ratings shown for Class C only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay High Yield Municipal Bond Fund Class I Shares rated five stars overall for the period ended 03/31/2014 from among 153 US OE High Yield Muni funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class I Shares rated five stars for the three-year period ended 03/31/2014 from among 153 US OE High Yield Muni funds. Ratings shown for Class I only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay High Yield Opportunities Fund Class I Shares rated four stars overall for the period ended 03/31/2014 from among 550 US OE High Yield Bond funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class I Shares rated three stars and four stars, for the three- and five-year periods ended 03/31/2014 from among 550 and 469 US OE High Yield Bond funds, respectively. Ratings shown for Class I only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay ICAP Equity Fund Class I Shares rated four stars overall for the period ended 03/31/2014 from among 1068 US OE Large Value funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class I Shares rated three stars, three stars and four stars, for the three-, five- and ten-year periods ended 03/31/2014 from among 1068, 951 and 626 US OE Large Value funds, respectively. Ratings shown for Class I only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay ICAP International Fund Class I Shares rated four stars overall for the period ended 03/31/2014 from among 306 US OE Foreign Large Value funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class I Shares rated three stars, three stars and four stars, for the three-, five- and ten-year periods ended 03/31/2014 from among 306, 267 and 140 US OE Foreign Large Value funds, respectively. Ratings shown for Class I only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Income Builder Fund Class I Shares rated four stars overall for the period ended 03/31/2014 from among 742 US OE Moderate Allocation funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class I Shares rated five stars, four stars and four stars, for the three-, five- and ten-year periods ended 03/31/2014 from among 742, 666 and 437 US OE Moderate Allocation funds, respectively. Ratings shown for Class I only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay International Opportunities Fund Class A Shares rated four stars overall for the period ended 03/31/2014 from among 306 US OE Foreign Large Value funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class A Shares rated four stars and four stars, for the three- and five-year periods ended 03/31/2014 from among 306 and 267 US OE Foreign Large Value funds, respectively. Ratings shown for Class A only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay International Opportunities Fund Class C Shares rated four stars overall for the period ended 03/31/2014 from among 306 US OE Foreign Large Value funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class C Shares rated five stars and four stars, for the three- and five-year periods ended 03/31/2014 from among 306 and 267 US OE Foreign Large Value funds, respectively. Ratings shown for Class C only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay International Opportunities Fund Class I Shares rated five stars overall for the period ended 03/31/2014 from among 306 US OE Foreign Large Value funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class I Shares rated five stars and five stars, for the three- and five-year periods ended 03/31/2014 from among 306 and 267 US OE Foreign Large Value funds, respectively. Ratings shown for Class I only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay International Opportunities Fund Class INV Shares rated four stars overall for the period ended 03/31/2014 from among 306 US OE Foreign Large Value funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class INV Shares rated four stars and four stars, for the three- and five-year periods ended 03/31/2014 from among 306 and 267 US OE Foreign Large Value funds, respectively. Ratings shown for Class INV only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay MAP Fund Class I Shares rated four stars overall for the period ended 03/31/2014 from among 1361 US OE Large Blend funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class I Shares rated three stars, three stars and four stars, for the three-, five- and ten-year periods ended 03/31/2014 from among 1361, 1219 and 806 US OE Large Blend funds, respectively. Ratings shown for Class I only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay MAP Fund Class R1 Shares rated four stars overall for the period ended 03/31/2014 from among 1361 US OE Large Blend funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class R1 Shares rated three stars, three stars and four stars, for the three-, five- and ten-year periods ended 03/31/2014 from among 1361, 1219 and 806 US OE Large Blend funds, respectively. Ratings shown for Class R1 only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Marketfield Fund Class I Shares rated four stars overall for the period ended 03/31/2014 from among 144 US OE Long/Short Equity funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class I Shares rated five stars and four stars, for the three- and five-year periods ended 03/31/2014 from among 144 and 73 US OE Long/Short Equity funds, respectively. Ratings shown for Class I only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Moderate Growth Allocation Fund Class I Shares rated four stars overall for the period ended 03/31/2014 from among 324 US OE Aggressive Allocation funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class I Shares rated four stars and four stars, for the three- and five-year periods ended 03/31/2014 from among 324 and 295 US OE Aggressive Allocation funds, respectively. Ratings shown for Class I only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Retirement 2010 Fund Class I Shares rated four stars overall for the period ended 03/31/2014 from among 137 US OE Target Date 2000-2010 funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class I Shares rated five stars and four stars, for the three- and five-year periods ended 03/31/2014 from among 137 and 125 US OE Target Date 2000-2010 funds, respectively. Ratings shown for Class I only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay S&P 500 Index Fund Class I Shares rated four stars overall for the period ended 03/31/2014 from among 1361 US OE Large Blend funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class I Shares rated four stars, four stars and three stars, for the three-, five- and ten-year periods ended 03/31/2014 from among 1361, 1219 and 806 US OE Large Blend funds, respectively. Ratings shown for Class I only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Tax Free Bond Fund Class I Shares rated five stars overall for the period ended 03/31/2014 from among 227 US OE Muni National Long funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class I Shares rated five stars for the three-year period ended 03/31/2014 from among 227 US OE Muni National Long funds. Ratings shown for Class I only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Total Return Bond Fund Class I Shares rated four stars overall for the period ended 03/31/2014 from among 942 US OE Intermediate-Term Bond funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class I Shares rated four stars, three stars and four stars, for the three-, five- and ten-year periods ended 03/31/2014 from among 942, 808 and 581 US OE Intermediate-Term Bond funds, respectively. Ratings shown for Class I only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Unconstrained Bond Fund Class A Shares rated four stars overall for the period ended 03/31/2014 from among 150 US OE Nontraditional Bond funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class A Shares rated four stars, four stars and four stars, for the three-, five- and ten-year periods ended 03/31/2014 from among 150, 79 and 18 US OE Nontraditional Bond funds, respectively. Ratings shown for Class A only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Unconstrained Bond Fund Class B Shares rated four stars overall for the period ended 03/31/2014 from among 150 US OE Nontraditional Bond funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class B Shares rated four stars, four stars and four stars, for the three-, five- and ten-year periods ended 03/31/2014 from among 150, 79 and 18 US OE Nontraditional Bond funds, respectively. Ratings shown for Class B only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Unconstrained Bond Fund Class C Shares rated four stars overall for the period ended 03/31/2014 from among 150 US OE Nontraditional Bond funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class C Shares rated five stars, four stars and four stars, for the three-, five- and ten-year periods ended 03/31/2014 from among 150, 79 and 18 US OE Nontraditional Bond funds, respectively. Ratings shown for Class C only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Unconstrained Bond Fund Class I Shares rated five stars overall for the period ended 03/31/2014 from among 150 US OE Nontraditional Bond funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class I Shares rated five stars, five stars and five stars, for the three-, five- and ten-year periods ended 03/31/2014 from among 150, 79 and 18 US OE Nontraditional Bond funds, respectively. Ratings shown for Class I only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay Unconstrained Bond Fund Class INV Shares rated four stars overall for the period ended 03/31/2014 from among 150 US OE Nontraditional Bond funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class INV Shares rated four stars and four stars, for the three- and five-year periods ended 03/31/2014 from among 150 and 79 US OE Nontraditional Bond funds, respectively. Ratings shown for Class INV only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

MainStay U.S. Equity Opportunities Fund Class I Shares rated four stars overall for the period ended 03/31/2014 from among 1361 US OE Large Blend funds. The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with its three-, five-, and 10-year (if applicable) Morningstar RatingTM metrics. Class I Shares rated five stars and three stars, for the three- and five-year periods ended 03/31/2014 from among 1361 and 1219 US OE Large Blend funds, respectively. Ratings shown for Class I only; other share classes may vary. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar Risk-Adjusted Return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads, and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. The top 10% of funds in each category receive five stars, the next 22.5% receive four stars, the next 35% receive three stars, the next 22.5% receive two stars, and the next 10% receive one star. Past performance is no guarantee of future results.

  Daily Dividend Yield as of 04/25/13 12-month Yield as of 04/25/133 30-day SEC yield
as of 03/31/13
 

At NAV

At POP

At NAV

At POP

 
Money Market Yields Current 7-Day
Yield
NAV
(Amort Cost)6
NAV
(MKT Based)7

Investment Definitions

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.

Daily dividend yield (at NAV and POP) measures the percentage return in the form of dividends. It is the sum of the trailing 12 months of dividends divided by the NAV and POP, separately and respectively.

12-Month Yield is the sum of a fund’s total trailing 12-month interest and dividend payments divided by the last month’s ending share price (NAV) plus any capital gains distributed over the same period.

The SEC 30-day Yield is calculated by dividing the net investment income per share for the 30 days ended on the date of calculation by the offering price per share on that date. It is based on the most recent 30-day period covered by the fund’s filings with the SEC. The yield reflects the dividends and interest earned during the period, after the deduction of the Fund’s expenses.

  Dividend Distributions Capital Gains Distributions
 

Ex/Payable
Date

Dividend
Per Share

Cap Gains
Payable Date

Short-Term Cap Gains Per Share

Long-Term Cap Gains Per Share

Total Cap Gains Per Share

Disclosure

Dividend distributions are the distribution of a dividend to mutual fund shareholders as of a certain date. The following Funds declare daily dividends: MainStay California Tax Free Opportunities, MainStay Floating Rate, MainStay High Yield Municipal Bond, MainStay Money Market, MainStay New York Tax Free Opportunities, and MainStay Tax Free Bond.

Capital gains distributions are a distribution a mutual fund makes out of profits from selling stocks or bonds that is subject to capital gains taxes for the shareholders. The ex-date is when a distribution of dividends and capital gains is deducted from a mutual fund's assets. It is then set aside for payment to the shareholders. The payable date is the date when the declared dividend or capital gain distribution is scheduled to be paid to shareholders who elected to receive cash payments.

Short-term capital gains are a gain on an investment that has been held for one year or less.

Long-term capital gains are a gain on an investment that has been held for more than one year.