NYLI MacKay Muni Short Duration ETF
$24.83−0.10 (−0.40%)
- Expense ratio
- 0.25%
- Fund size
- $75M
- 1Y return
- +0.9%
- Yield · Last 12 months
- 3.58%
- Holdings
- 150
- Volume · 30D
- 0M sh
- NAV per share
- $24.95
- 52W range
The ETF.net MMSD Grade
Score 53 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.CScore 43Category rankMission
How faithfully it does the job it claims — tracking its mandate or index with minimal slippage.AScore 100Category 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.DScore 33Category rankHoldings
What it actually owns — the quality, breadth, and concentration of the underlying portfolio.DScore 34Category rankDurability
Whether it will still be here — the fund’s assets, age, flows, and issuer staying power.FScore 22Category rank
Our read on MMSD
CNew York Life's muni desk in ETF form, aimed at the short end of the tax-exempt bond market. It undercuts the typical muni ETF on fee, but it opened in 2025 and is still building its record.
The Fund seeks current income that is exempt from regular federal income tax.
Why people hold it
- Costs 0.25% a year against a 0.30% median for muni bond ETFs. On tax-free income, the fee you skip is income you keep.
- The mandate targets current income exempt from regular federal income tax, and the fund distributes monthly.
- Short duration by design. Shorter bonds move less when rates jump, which is the whole point of the sleeve.
- Holds roughly 150 municipal bonds, so no single issuer carries the portfolio.
Worth knowing
- Thinly traded. Spreads can be wider than the muni heavyweights, so limit orders earn their keep here.
- Launched in 2025 with a modest asset base, so there is little history to judge it by.
- Broad index rivals VTEB and MUB charge 0.03% and 0.05%. This is a pricier, narrower slice of the muni market, and it sits in the lower half of its peer group.
MMSD Holdings
- Bonds
- 150
- 19%
- DREYFUS GOVT CASH MAN INS
Geography
- United States100.00%
MMSD 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 | MMSD |
|---|---|
| Year to date | +0.5% |
| 1 month | −1.0% |
| 3 months | −0.9% |
| 1 year | +0.9% |
| 3 years | — |
| 5 years | — |
| 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 | MMSD |
|---|---|---|
| 2026 YTD | +0.5% | |
| 2025 | +3.6% |
MMSD in the news
ETF.net Research hasn’t filed on MMSD yet — coverage lands here as it’s written.
MMSD Dividends
- 3.58%
- $0.89
- $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 | $0.08 |
| Feb 27, 2026 | Mar 3, 2026 | $0.07 |
| Jan 30, 2026 | Feb 3, 2026 | $0.08 |
| Dec 30, 2025 | Jan 5, 2026 | $0.10 |
| Dec 1, 2025 | Dec 5, 2025 | $0.07 |
| Nov 3, 2025 | Nov 7, 2025 | $0.06 |
| Oct 1, 2025 | Oct 6, 2025 | $0.07 |
MMSD Risk
- 1.8%
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.
- 0.03
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.
- −1.3%
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.
- 0.07
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
MMSD Cost
- The middle half of Short-Duration Municipal Bonds funds
- Median 0.25%
13 of the 27 Short-Duration Municipal Bonds funds charge less.