NYLI MacKay Muni Intermediate ETF
$23.20−0.14 (−0.60%)
- Expense ratio
- 0.40%
- Fund size
- $1.5B
- 1Y return
- −0.5%
- Yield · Last 12 months
- 3.76%
- Holdings
- 837
- Volume · 30D
- 0.4M sh
- NAV per share
- $23.37
- 52W range
The ETF.net MMIT Grade
Score 57 of 100 sits in the B 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 18Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 92Category rankRisk
How violently it can move — volatility, drawdown depth, and downside capture versus its category.CScore 43Category rankTradability
How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.AScore 81Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.AScore 74Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.BScore 67Category rank
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
- 837
- 9%
- DREYFUS GOVT CASH MAN INS
Sectors
- Financials100.0%
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.
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 | MMIT |
|---|---|
| Year to date | −1.7% |
| 1 month | −2.4% |
| 3 months | −3.3% |
| 1 year | −0.5% |
| 3 years | +3.1% |
| 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 | −1.7% | |
| 2025 | +5.0% | |
| 2024 | +1.5% | |
| 2023 | +5.4% | |
| 2022 | −7.4% | |
| 2021 | +1.6% | |
| 2020 | +6.2% |
MMIT in the news
ETF.net Research hasn’t filed on MMIT yet — coverage lands here as it’s written.
MMIT Dividends
- 3.76%
- $0.88
- $0.07 per share
- Monthly
Distribution history
| Ex-date | Pay date | Amount per share |
|---|---|---|
| Aug 31, 2026 | Sep 2, 2026 | $0.07 |
| Jul 31, 2026 | Aug 4, 2026 | $0.07 |
| Jun 30, 2026 | Jul 2, 2026 | $0.07 |
| May 29, 2026 | Jun 2, 2026 | $0.08 |
| Apr 30, 2026 | May 4, 2026 | $0.07 |
| Mar 31, 2026 | Apr 2, 2026 | $0.07 |
| Feb 27, 2026 | Mar 3, 2026 | $0.07 |
| Jan 30, 2026 | Feb 3, 2026 | $0.07 |
| Dec 30, 2025 | Jan 5, 2026 | $0.07 |
| Dec 1, 2025 | Dec 5, 2025 | $0.07 |
| Nov 3, 2025 | Nov 7, 2025 | $0.07 |
| Oct 1, 2025 | Oct 6, 2025 | $0.07 |
MMIT Risk
- 4.2%
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.
- −0.23
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
- The middle half of Intermediate Municipal Bonds funds
- Median 0.35%
15 of the 19 Intermediate Municipal Bonds funds charge less.