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Beacon

SECRNYLI MacKay Securitized Income ETF

Grow my moneyGet income2y track recordRanked #798 of 1,622 in this goal

Seeks total return with an emphasis on current income.

By New York Life Investment Management LLC · Launched 2024

Annual Cost

0.28%

#1,340 of 5,562 · low cost

Fund Size

$165M

#2,460 of 5,562 · mid-size

Return (1Y)Goal

+4.8%

Track Record

2 years

#3,595 of 5,562 · seasoned

Performance

Total-return NAV · USD
Growth of $10,000
$10,479+4.8%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Fixed income

Region

North america

Strategy

Active selection

Index tracked

Bloomberg US Securitized Index

What it actually holds

By weight

Concentration

Top 10 holdings = 15.9% of fund✓ well diversified

Woodward Capital Management
2.2%
Freddie Mac
2.2%
Freddie Mac
1.8%
Fannie Mae
1.7%
Fannie Mae
1.6%
Fannie Mae
1.5%
Fannie Mae
1.4%
US TREASURY N/B
1.4%
Freddie Mac
1.2%
Fannie Mae
1.0%

Asset allocation

Bonds
98.6%
Cash
1.4%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years
Volatility (1Y)
3.9%Low

Year-on-year price swings

Max drawdown
-3.9%Mild

Worst peak-to-trough loss

Sharpe (3Y)
Unavailable

Needs 3+ years of history

Sortino (3Y)
Not yet

Needs 3+ years of history

Bond profile

Duration

4.5 years

Avg maturity

9.1 years

Credit ratings

US Government
8.5%
AAA
14.4%
AA
48.8%
A
6.3%
BBB
9.7%
BB
7.9%
B
2.1%
Below B
1.1%
Other
9.7%

Where to buy

Listing

Exchange
NYSE Arca

Full fund details

Objective
Seeks total return with an emphasis on current income.
Strategy
Invests primarily in securitized assets, including CMBS, ABS, RMBS, and CLOs, with at least 80% of assets in these securities. The Fund may also invest in fixed-income instruments and derivatives to enhance returns or manage risk. It seeks to maintain a weighted average duration within 1.5 years of the Bloomberg U.S. Securitized Index.
Inception date
May 30, 2024
Fund family
New York Life Investment Management LLC

Our take

Structural notes on how this fund behaves. Read our guide on the 6 warning signs.

Closet indexing
Warning

Closet indexer — active fees, passive behavior

This fund charges active-management fees but closely tracks its benchmark index. You may be paying a premium for active management that does not meaningfully exist — a combination of high R² versus the benchmark, low tracking error, and a TER sitting well above the passive peer-group median.

R²
84.3%
TE
1.9%
Beta
0.91
Fee
4× 0.07%

Source: Cremers & Petajisto (2009) · Amihud & Goyenko (2013) · ESMA (2016)

Why we flagged this: strategy=active_selection + low_tracking_error+near_market_beta+fee_premium

Educational analysis of structural product characteristics. Not investment advice. Always read the fund prospectus and consult a qualified advisor before investing. More

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Data updated on 2026-06-19