NYLI MacKay Core Plus Bond ETF (CPLB)

Overview

The NYLI MacKay Core Plus Bond ETF (NFRA) is an actively managed fund that seeks to provide total return by investing primarily in investment-grade fixed income securities. The fund may also invest a portion of its assets in below investment-grade securities. Its strategy focuses on actively allocating across various sectors of the fixed-income market.

Reputation and Reliability

New York Life Investment Management (NYLIM) has a strong reputation as a global asset manager with a long history. They are known for their conservative and risk-aware investment approach.

Management Expertise

MacKay Shields LLC, a subsidiary of NYLIM, manages the fixed-income assets. Their team possesses significant experience in managing core plus bond strategies.

Goal

To provide total return over a full market cycle.

Investment Approach and Strategy

Strategy: The fund employs an active management strategy, aiming to outperform the Bloomberg Barclays U.S. Aggregate Bond Index.

Composition Primarily invests in U.S. dollar-denominated investment-grade debt securities, but can also hold high-yield bonds, emerging market debt, and other fixed-income instruments.

Market Share: Insufficient data to provide accurate market share.

Total Net Assets (AUM): 21850000

Key Competitors

• AGG
• BND
• LQD

Competitive Landscape

The competitive landscape is dominated by large, passively managed ETFs like AGG and BND. NFRA differentiates itself through active management, potentially offering higher returns but also carrying higher risks and fees. NFRA's active approach might appeal to investors seeking outperformance compared to passive strategies. However, its AUM is significantly smaller than its competitors.

Historical Performance: Insufficient data to provide accurate historical performance data.

Benchmark Comparison: Insufficient data to provide accurate benchmark comparison data.

Expense Ratio: 0.3

Average Trading Volume

Insufficient data to assess average trading volume accurately.

Bid-Ask Spread

Insufficient data to accurately determine the typical bid-ask spread.

Market Environment Factors

Interest rate movements, credit spreads, and economic growth all impact the performance of NFRA. The fund is also susceptible to changes in investor sentiment and market liquidity.

Growth Trajectory

The growth trajectory of NFRA is dependent on its ability to consistently outperform its benchmark and attract new assets. Changes in the fund's investment strategy or holdings could also influence its growth.

Competitive Edge

NFRA's competitive advantage lies in its active management approach, which allows the fund to dynamically adjust its portfolio based on market conditions and security selection. The experienced management team at MacKay Shields seeks to identify undervalued securities and capitalize on market inefficiencies. This active approach allows for the potential to outperform passive bond ETFs during certain market environments. The fundu2019s flexibility to invest in various sectors, including high yield and emerging market debt, also provides a broader opportunity set.

Volatility

Insufficient data to assess historical volatility accurately.

Market Risk

NFRA is subject to market risk, including interest rate risk, credit risk, and liquidity risk. Rising interest rates could negatively impact the value of the fund's bond holdings. Credit risk arises from the possibility that issuers may default on their debt obligations.

Ideal Investor Profile

NFRA is suitable for investors seeking income and total return with a moderate risk tolerance. Investors should understand the complexities of active fixed income management.

Market Risk

NFRA may be best suited for long-term investors who are willing to accept some active management risk in exchange for the potential for higher returns. It is not ideal for those seeking a purely passive approach.

The NYLI MacKay Core Plus Bond ETF is an actively managed fixed-income fund seeking total return through investment-grade and below-investment-grade debt. Its active strategy provides flexibility but also carries risks and higher expenses compared to passive alternatives. The fund's success depends on the manager's ability to navigate changing market conditions and identify undervalued securities. Investors should consider their risk tolerance and investment goals before investing in NFRA. AUM has not been performing as expected since fundu2019s creation.

Data Sources:

• SEC Filings
• ETF.com
• Morningstar

Disclaimers:

The data and analysis provided are for informational purposes only and should not be considered investment advice. Investors should conduct their own research and consult with a financial advisor before making any investment decisions.