NYLI MacKay Muni Insured ETF
$22.73−0.18 (−0.81%)
- Expense ratio
- 0.40%
- Fund size
- $459M
- 1Y return
- +0.3%
- Yield · Last 12 months
- 4.19%
- Holdings
- 222
- Volume · 30D
- 0.1M sh
- NAV per share
- $22.91
- 52W range
The ETF.net MMIN Grade
Score 54 of 100 sits in the C band. Bands: A ≥ 70, B ≥ 55, C ≥ 40, D ≥ 25, F < 25; the scale skips E.
Cost
What you pay to own it — the expense ratio plus trading frictions, ranked within its category.FScore 21Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 83Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.BScore 59Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.BScore 58Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 72Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.CScore 49Category rank
Our read on MMIN
CMost muni ETFs just buy the market. MMIN buys munis wearing a seatbelt: bonds whose payments carry third-party insurance, picked by MacKay's muni desk, paying federally tax-exempt income every month.
The Fund seeks current income that is exempt from federal income tax.
Why people hold it
- The insurance wrapper is the whole point: bonds where an outside insurer stands behind interest and principal payments, wrapped around income exempt from federal income tax.
- Income arrives monthly and is federally tax-exempt by mandate, which is the shape most muni buyers are after.
- No index to hug. The managers assemble a couple hundred bonds themselves, so credit and structure calls are deliberate rather than index-weighted.
- On the tape since 2017, with a multi-year operating history behind the strategy instead of a fresh-launch story.
Worth knowing
- It charges 0.40% a year. Broad index munis go for a fraction of that (VTEB at 0.03%, MUB at 0.05%). The insured, hand-built portfolio is what the premium buys.
- Insurance addresses defaults, not prices. This is still a bond portfolio, so the share price moves when rates move.
- In a crowded muni ETF field it lands in the lower half overall, and cost is the main reason rather than how the portfolio is run.
MMIN Holdings
- Bonds
- 222
- 12%
- Wayne Cnty Mich Arpt Auth Rev 5.5% 01-dec-2048
Geography
- United States100.00%
MMIN Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Returns run to the Sep 22, 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 | MMIN |
|---|---|
| Year to date | −1.7% |
| 1 month | −2.6% |
| 3 months | −4.3% |
| 1 year | +0.3% |
| 3 years | +3.6% |
| 5 years | −0.2% |
| 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 | MMIN |
|---|---|---|
| 2026 YTD | −1.7% | |
| 2025 | +4.7% | |
| 2024 | +0.9% | |
| 2023 | +7.4% | |
| 2022 | −11.2% | |
| 2021 | +1.3% | |
| 2020 | +7.5% |
MMIN in the news
ETF.net Research hasn’t filed on MMIN yet — coverage lands here as it’s written.
MMIN Dividends
- 4.19%
- $0.96
- $0.08 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 31, 2026 | Sep 2, 2026 | $0.08 |
| Jul 31, 2026 | Aug 4, 2026 | $0.08 |
| Jun 30, 2026 | Jul 2, 2026 | $0.08 |
| May 29, 2026 | Jun 2, 2026 | $0.08 |
| Apr 30, 2026 | May 4, 2026 | $0.08 |
| Mar 31, 2026 | Apr 2, 2026 | $0.08 |
| Feb 27, 2026 | Mar 3, 2026 | $0.07 |
| Jan 30, 2026 | Feb 3, 2026 | $0.08 |
| Dec 30, 2025 | Jan 5, 2026 | $0.08 |
| Dec 1, 2025 | Dec 5, 2025 | $0.08 |
| Nov 3, 2025 | Nov 7, 2025 | $0.08 |
| Oct 1, 2025 | Oct 6, 2025 | $0.08 |
MMIN Risk
- 6.7%
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.
- −0.10
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.
- −16.5%
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.
- 1.15
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
MMIN Cost
- The middle half of Other Municipal Bond funds
- Median 0.30%
49 of the 62 Other Municipal Bond funds charge less.