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MMMA

GradeCNew York Stock Exchange Arca

NYLI MacKay Muni Allocation ETF

Municipal Bond · NY Life Investments · Inception 2025-12-16 · SEC filings

$24.28−0.18 (−0.72%)

As of Sep 23, 2026, 10:54 AM EDT

History starts Dec 16, 2025.History starts Dec 16, 2025.
Intraday session: down, 4 prints from 24.46 to 24.28. Range 24.28 to 24.46. Use the arrow keys to read each point.$24.35$24.40$24.4510 AM12 PM2 PM4 PM
Expense ratio
0.40%
Fund size
$28M
1Y return
—
Yield · Last 12 months
Data unavailable
Holdings
45
Volume · 30D
0M sh
NAV per share
$24.46
52W range
low $24.39high $25.74

The ETF.net MMMA Grade

C

49/ 100

Rank 48 of 63 in Other Municipal Bond⁠

Confidence High

Six-pillar profile for MMMA. Scores out of 100: Cost 21, Risk 62, Mission 89, Tradability 41, Holdings 37, Durability 29. Strongest: Mission (89). Weakest: Cost (21). Leans toward Mission.
F< 25
D≥ 25
C≥ 40
B≥ 55
A≥ 70

Score 49 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 21
    Category rank53/63 · bottom quartile

  • Mission

    How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.
    AScore 89
    Category rank25/57 · top 44%

  • Risk

    How violently it can move — volatility, drawdown depth, and downside capture versus its category.
    BScore 62
    Category rank10/62 · top 16%

  • Tradability

    How cheaply and easily you can get in and out — liquidity, spread, and premium/discount stability.
    CScore 41
    Category rank40/63 · mid-pack

  • Holdings

    What it actually owns — the quality, breadth, and concentration of the underlying portfolio.
    DScore 37
    Category rank52/63 · bottom quartile

  • Durability

    Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.
    DScore 29
    Category rank51/63 · bottom quartile

Graded as of Sep 22, 2026

Our read on MMMA

ETF.net Research

CA muni fund built by pickers, not by an index. Roughly 40 positions chosen for income exempt from regular US federal income tax, in a category ruled by thousand-line benchmark trackers.

Stated mandate

The Fund seeks current income that is exempt from regular U.S. federal income tax.

Why people hold it

  1. 01The mandate is narrow and legible: current income exempt from regular US federal income tax, from US issuers.
  2. 02About 40 positions and no declared index, so manager selection drives the portfolio instead of a benchmark's weighting rules.
  3. 03Standard 1940 Act fund structure, so holders get a 1099 at tax time rather than a K-1.

Worth knowing

  1. 01At 0.40% a year it runs above the muni ETF median of 0.30%, and far above index anchors like VTEB (0.03%) and MUB (0.05%).
  2. 02Launched December 2025, so there is little history to judge, and it remains a small, lightly traded fund, which typically means wider spreads than category giants.
  3. 03Distributions come on an irregular cadence rather than a set monthly rhythm, and the tax break is written against regular federal income tax, not state taxes.

MMMA Holdings

As of Sep 22, 2026, 10:00 PM
Asset class
Bonds
Holdings
45
Top-10 weight
37%
Largest holding
Natomas Uni Sch Dist Calif 0.05% 01-aug-20284.4%

Geography

  • United States100.00%
The fund’s holdings, weight-ordered — page 1 of 4.
#TickerCompanyWeight %SharesMarket valueIn ETFs
001—Natomas Uni Sch Dist Calif 0.05% 01-aug-20284.41%1,350,000$1M1
002—South Carolina St Pub Svc Auth Rev 5.0% 01-dec-20463.90%1,095,000$1M2
003—Los Angeles Calif Dept Arpts Arpt Rev 5.25% 15-may-20373.84%1,000,000$1M1
004—Illinois St Toll Hwy Auth Toll Highway Rev 5.0% 01-jan-20373.70%1,040,000$1M2
005—Chicago Ill O Hare Intl Arpt Rev 5.5% 01-jan-20483.64%1,000,000$1M3
006—Broward Cnty Fla Port Facs Rev 5.5% 01-sep-20523.58%1,000,000$1M1
007—Chicago Ill Brd Ed Dedicated Cap Impt 6.0% 01-apr-20463.57%1,000,000$1M6
008—Arizona Indl Dev Auth Natl Charter Sch Revolvingln Fd Rev 5.25% 01-nov-20533.53%1,000,000$992K3
009—Denver Colo City & Cnty Hsg Auth Multifamily Hsgrev 5.0% 01-dec-20453.41%1,000,000$959K1
010—National Fin Auth N H Mun Ctfs Var 20-nov-20423.18%989,242$894K5
011—Metropolitan Transn Auth N Y Rev 3.5% 15-nov-20413.10%1,075,000$872K1
012—Metropolitan Pier & Exposition Auth Ill Rev 4.0% 15-jun-20522.91%1,000,000$817K3
013—Alabama Toll Rd Brdg & Tunl Auth Rev 5.0% 01-oct-20322.77%750,000$779K26
014—New York N Y City Transitional Fin Auth Rev 5.0% 01-nov-20402.77%750,000$778K3
015—California Cmnty Choice Fing Auth Clean Energy Proj Rev 5.0% 01-mar-20362.69%750,000$756K12

Showing 1–15 of 53 holdings

MMMA Performance

Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.

MMMA$10,038
SPY tracks large US stocks. It provides market context, rather than representing this fund’s strategy, asset class or investment benchmark.$11,430
Dec 31, 2025 to Sep 22, 2026. MMMA $10,038. SPY $11,430. Use the arrow keys to read each point.$9,119$10,381$11,642Dec 2025May 2026Sep 2026

Dec 31, 2025 – Sep 22, 2026

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.

Trailing total return for MMMA. Periods over one year show the average yearly return.
PeriodMMMA
Year to date+0.4%
1 month−1.9%
3 months−3.0%
1 yearFund is under 1 year old—
3 yearsFund is under 3 years old—per year
5 yearsFund is under 5 years old—per year
10 yearsFund is under 10 years old—per year

As of the close, with distributions reinvested.

Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.

Annual total returns for MMMA
YearReturn barMMMA
2026 YTD+0.4%
2025+0.3%

Since listing, Dec 16, 2025

MMMA in the news

ETF.net Research hasn’t filed on MMMA yet — coverage lands here as it’s written.

MMMA Dividends

Adds up every distribution paid per share over the last 12 months, divided by the last completed close. Distributions are counted by ex-date. Data through Sep 22, 2026.
Data unavailableLast 12 months
Payout per share
Data unavailableLast 12 months
Last payment
$0.09 per share
Paid on
Shares bought on or after this date do not qualify for this distribution.
Frequency
Monthly

Distribution data unavailable.

Distribution history

2025–2026

One bar per payment. 9 payments from 2025 to 2026 YTD. Dec 30, 2025 $0.04; Jan 30, 2026 $0.10; Feb 27, 2026 $0.08; Mar 31, 2026 $0.09; Apr 30, 2026 $0.09; May 29, 2026 $0.10; Jun 30, 2026 $0.09; Jul 31, 2026 $0.09; Aug 31, 2026 $0.09. Use the arrow keys to read each point.20252026YTD
Ex-datePay dateAmount per share
Aug 31, 2026Sep 2, 2026$0.09
Jul 31, 2026Aug 4, 2026$0.09
Jun 30, 2026Jul 2, 2026$0.09
May 29, 2026Jun 2, 2026$0.10
Apr 30, 2026May 4, 2026$0.09
Mar 31, 2026Apr 2, 2026$0.09
Feb 27, 2026Mar 3, 2026$0.08
Jan 30, 2026Feb 3, 2026$0.10
Dec 30, 2025Jan 5, 2026$0.04

MMMA Risk

How much the fund’s monthly returns vary, scaled to a year.
—
Launched Dec 2025; fills in after 12 months
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.

Return above 3-month US Treasury bills per unit of volatility.
—
Launched Dec 2025; fills in after 12 months
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.

The largest fall from a peak to the low that followed.
—
Launched Dec 2025; fills in after 12 months
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.

How strongly the fund’s returns move with its asset-class index.
0.15
vs its asset-class index
How it’s calculated: beta

The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.

MMMA Cost

Expense ratio0.40%
  • The middle half of Other Municipal Bond funds
  • Median 0.30%

49 of the 62 Other Municipal Bond funds charge less.

MMMA costs $40.00 a year on $10,000. The median Other Municipal Bond fund costs $30.00.