NYLI MacKay California Muni Intermediate ETF
$20.71+0.08 (+0.39%)
- 0.45%
- $89M
- −2.1%
- 3.40%
- 0M sh
- $20.57
- low $20.37high $22.26
The ETF.net MMCA Grade
C
Score 43 out of 100
- 17 of 20
Score 43 of 100 falls in the C band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F0 out of 100Rank 20 of 20Mission
Whether the fund did what it promised, tested against its stated mandate.A97 out of 100Rank 8 of 19Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C43 out of 100Rank 14 of 20Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.B57 out of 100Rank 8 of 20Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.F21 out of 100Rank 20 of 20Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.D38 out of 100Rank 16 of 20
Our read on MMCA
CA California-only muni fund, actively run by MacKay Shields' municipal team, built around income exempt from both federal and California income taxes. Intermediate maturities, roughly 120 bonds, monthly distributions.
The Fund seeks current income that is exempt from both federal and California income taxes.
Why people hold it
- Double tax-exempt by mandate: the fund seeks current income exempt from federal and California income taxes, not a national portfolio that happens to hold some California paper.
- Actively managed by MacKay Shields' municipal team rather than tracking an index, and it has hewed closely to the objective in its own filings.newyorklifeinvestments.com
- Pays monthly and spreads the risk across roughly 120 intermediate-maturity bonds, so no single issuer carries the portfolio.
- Part of NY Life's active muni ETF lineup alongside its national and insured muni funds, and it has been trading since 2021.newyorklifeinvestments.com
Worth knowing
- Active management costs: 0.45% a year against a 0.30% median for muni bond ETFs, while broad national trackers like VTEB (0.03%) and MUB (0.05%) sit far below that.
- One state, one budget. California issuers drive results, and the state-tax portion of the exemption is only worth something to California taxpayers.
- A smaller fund that trades lightly next to the big national muni ETFs, so spreads and limit orders matter more at the point of trade.
MMCA Holdings
- Bonds
- 109
- 39%
- Dreyfus Govt Cash Man Ins
Sectors
- Financials100.0%
Geography
- United States100.00%
MMCA Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.Not enough history yet.
MMCA$9,789
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | MMCA |
|---|---|
| Year to date | −3.2% |
| 1 month | −1.7% |
| 3 months | −4.0% |
| 1 year | −2.1% |
| 3 years | +3.4% |
| 5 years | — |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | MMCA |
|---|---|---|
| 2026 YTD | −3.2% | |
| 2025 | +5.8% | |
| 2024 | +1.7% | |
| 2023 | +5.7% | |
| 2022 | −12.1% | |
| 2021 | 0.0% |
MMCA in the news
MMCA Dividends
- 3.40%
- $0.70
- $0.06 per share
- Monthly
Distribution history
MMCA Risk
- 4.9%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.26
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −16.0%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.80
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
MMCA Cost
0.45%
MMCA0.45%
- The middle half of Intermediate Municipal Bonds funds
- Median 0.35%
Every other Intermediate Municipal Bonds fund charges less.
Other funds in Intermediate Municipal Bonds
- CTXXIBondBloxx IR+M Tax-Aware Intermediate Duration ETFExpense ratio 0.35%1 year return −1.9%
- CINTMInvesco Actively Managed Exchange-Traded Fund Trust - Invesco Intermediate Municipal ETFExpense ratio 0.35%1 year return −0.7%
- CGENMGenter Capital Municipal Quality Intermediate ETFExpense ratio 0.39%1 year return −1.2%
- CMNBDALPS BBH Intermediate Municipal Bond ETFExpense ratio 0.44%1 year return −1.4%
- CFIMUFidelity Intermediate Municipal Income ETFExpense ratio 0.31%1 year return —