NYLI MacKay Muni Short Duration ETF
$24.85+0.02 (+0.08%)
- 0.25%
- $75M
- +1.0%
- 3.60%
- 0M sh
- $24.76
- low $24.59high $26.10
The ETF.net MMSD Grade
B
Score 56 out of 100
- 20 of 28
Score 56 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.C43 out of 100Rank 14 of 28Mission
Whether the fund did what it promised, tested against its stated mandate.A100 out of 100Rank 1 of 27Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.C51 out of 100Rank 12 of 27Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.D30 out of 100Rank 21 of 28Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.C51 out of 100Rank 18 of 28Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.F21 out of 100Rank 25 of 28
Our read on MMSD
BNew 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
- 157
- 17%
- 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.
Not enough history yet.Not enough history yet.Not enough history yet.
MMSD$10,103
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 | MMSD |
|---|---|
| Year to date | +0.4% |
| 1 month | −0.5% |
| 3 months | −1.2% |
| 1 year | +1.0% |
| 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 | +0.4% | |
| 2025 | +3.6% |
MMSD in the news
MMSD Dividends
- 3.60%
- $0.89
- $0.07 per share
- Monthly
Distribution history
MMSD Risk
- 2.3%
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.
- −0.57
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.
- −2.4%
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
0.25%
MMSD0.25%
- The middle half of Short-Duration Municipal Bonds funds
- Median 0.25%
13 of the 27 Short-Duration Municipal Bonds funds charge less.
Other funds in Short-Duration Municipal Bonds
- BCALIiShares Short-Term California Muni Active ETFExpense ratio 0.25%1 year return +1.1%
- BFSMBFirst Trust Short Duration Managed Municipal ETFExpense ratio 0.34%1 year return +0.3%
- BSMMUPIMCO Short Term Municipal Bond Active Exchange-Traded FundExpense ratio 0.35%1 year return +1.2%
- BPVIInvesco Floating Rate Municipal Income ETFExpense ratio 0.25%1 year return +2.2%
- CTAXXBondBloxx IR+M Tax-Aware Short Duration ETFExpense ratio 0.35%1 year return +1.5%