NYLI MacKay Muni Intermediate ETF
$23.15+0.11 (+0.48%)
- 0.40%
- $1.5B
- −1.6%
- 3.82%
- 0.5M sh
- $23.00
- low $22.77high $24.77
The ETF.net MMIT Grade
B
Score 59 out of 100
- 11 of 20
Score 59 of 100 falls in the B 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.F18 out of 100Rank 16 of 20Mission
Whether the fund did what it promised, tested against its stated mandate.A98 out of 100Rank 5 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.A87 out of 100Rank 2 of 20Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.B66 out of 100Rank 7 of 20Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B67 out of 100Rank 5 of 20
Our read on MMIT
BMost big muni ETFs just buy the index. MMIT hands the keys to MacKay's municipal credit team, which picks bonds across the intermediate part of the curve and pays out federally tax-exempt income monthly.
The Fund seeks current income exempt from federal income tax.
Why people hold it
- Actively run by the MacKay Municipal Managers team rather than tracking a benchmark, unlike the index giants that dominate the muni shelf (VTEB, MUB).newyorklifeinvestments.com
- Pays monthly, and the income it seeks is exempt from federal income tax, spread across about 800 bonds rather than a handful of big issuers.
- Trading since 2017 and now a $1B-$5B fund with moderate daily volume, so it isn't a thin, untested launch.
Worth knowing
- At 0.40%, it costs more than the 0.30% muni-ETF median and well above index rivals VTEB and SCMB at 0.03%. The manager's judgment is what the fee buys.
- With no index to hug, the portfolio rides on the team's credit and maturity calls and can look different from the broad muni market in either direction.newyorklifeinvestments.com
- The exemption the fund targets is federal. State and local treatment depends on where you live and which states' bonds it holds.
MMIT Holdings
- Bonds
- 890
- 12%
- Dreyfus Govt Cash Man Ins
Geography
- United States100.00%
MMIT 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.
MMIT$9,837
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 | MMIT |
|---|---|
| Year to date | −2.7% |
| 1 month | −1.6% |
| 3 months | −4.2% |
| 1 year | −1.6% |
| 3 years | +3.0% |
| 5 years | +0.4% |
| 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 | MMIT |
|---|---|---|
| 2026 YTD | −2.7% | |
| 2025 | +5.0% | |
| 2024 | +1.5% | |
| 2023 | +5.4% | |
| 2022 | −7.4% | |
| 2021 | +1.6% | |
| 2020 | +6.2% |
MMIT in the news
MMIT Dividends
- 3.82%
- $0.88
- $0.07 per share
- Monthly
Distribution history
MMIT Risk
- 4.7%
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.
- −0.33
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.
- −12.1%
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.
- 0.73
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
MMIT Cost
0.40%
MMIT0.40%
- The middle half of Intermediate Municipal Bonds funds
- Median 0.35%
15 of the 19 Intermediate Municipal Bonds funds charge less.
Other funds in Intermediate Municipal Bonds
- BNYMAB Active ETFs Inc. - AB New York Intermediate Municipal ETFExpense ratio 0.27%1 year return —
- BBKMIBNY Mellon Municipal Intermediate ETFExpense ratio 0.35%1 year return —
- BMFSMMFS Active Exchange Traded Funds Trust - MFS Active Intermediate Muni Bond ETFExpense ratio 0.34%1 year return −1.7%
- BAPMUActivePassive Intermediate Municipal Bond ETFExpense ratio 0.35%1 year return −1.7%
- CINMUiShares Intermediate Muni Income Active ETFExpense ratio 0.41%1 year return −1.0%