NYLI MacKay Muni Intermediate ETF
$23.66+0.01 (+0.04%)
- 0.30%
- $1.45B
- +0.7%
- 4.02%
- 689K sh
- low $22.77high $24.77
The ETF.net MMIT Grade
A
Score 72 out of 100
- 5 of 20
Score 72 of 100 falls in the A 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.C53 out of 100Rank 9 of 20Mission
Whether the fund did what it promised, tested against its stated mandate.A99 out of 100Rank 4 of 19Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C52 out of 100Rank 9 of 20Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.A85 out of 100Rank 2 of 20Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.A79 out of 100Rank 2 of 20Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.B66 out of 100Rank 6 of 20
Our read on MMIT
In short
AActive muni bond-picking in an ETF wrapper. MacKay Shields' municipal desk has run MMIT since 2017, sifting roughly 900 investment-grade, AMT-free bonds for income exempt from federal tax, and paying it out monthly.
Stated mandate
The Fund seeks current income exempt from federal income tax.
Why people hold it
Worth knowing
MMIT Holdings
- Bonds
- 963
- 8%
- Dreyfus Govt Cash Man Ins
Geography
- United States97.90%
- Puerto Rico1.68%
- Guam0.38%
- United Kingdom0.03%
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$10,066
Returns run to the Oct 30, 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 | +0.2% |
| 1 month | +3.7% |
| 3 months | −0.2% |
| 1 year | +0.7% |
| 3 years | +4.4% |
| 5 years | +1.0% |
| 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 | +0.2% | |
| 2025 | +5.0% | |
| 2024 | +1.5% | |
| 2023 | +5.4% | |
| 2022 | −7.4% | |
| 2021 | +1.6% | |
| 2020 | +6.2% |
MMIT in the news
MMIT Dividends
- 4.02%
- $0.95
- $0.07 per share
- Monthly
MMIT Risk
- 5.0%
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.
- −0.01
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.
FMP measures it over up to five years of monthly returns.
MMIT Cost
Overpaying vs TAXI, cheapest in Intermediate Municipal Bonds
$5,089
On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.
MMIT 0.30%
$6,149
TAXI 0.05% Cheapest
$1,060
Cost over time
Year by year
| Year | MMIT | TAXI | Overpaying |
|---|---|---|---|
| 10 | $545 | $92 | $453 |
| 20 | $2,113 | $360 | $1,753 |
| 30 | $6,149 | $1,060 | $5,089 |
Other funds in Intermediate Municipal Bonds
- AITMVanEck Intermediate Muni ETFExpense ratio 0.18%1 year return +0.1%
- AEVIMEaton Vance Intermediate Municipal Income ETFExpense ratio 0.11%1 year return +1.0%
- ATAXET. Rowe Price Intermediate Municipal Income ETFExpense ratio 0.24%1 year return +1.5%
- ACAMAB California Intermediate Municipal ETFExpense ratio 0.27%1 year return +0.9%
- ATAFMAB Tax-Aware Intermediate Municipal ETFExpense ratio 0.28%1 year return +0.3%
