The MainStay Moderate ETF Allocation Fund Class R3 (MDARX) is a mutual fund that aims to provide investors with a balanced and diversified portfolio by investing in a mix of exchange-traded funds (ETFs). This fund is designed for moderate risk tolerance investors who are seeking a steady return on their investment. With a focus on asset allocation, the fund aims to provide a combination of growth and income through a variety of asset classes, including stocks, bonds, and alternative investments. The R3 class of this fund is specifically designed for retirement accounts, offering lower fees and expenses. Overall, MDARX offers a convenient and cost-effective way for investors to achieve a moderate level of diversification and potential returns.