MMIT ETF — Holdings & Analysis
The NYLI MacKay Muni Intermediate ETF (MMIT) is a fixed-income ETF with $1.31 billion in assets under management. It aims to provide current income exempt from federal income tax by investing primarily in investment-grade municipal bonds.
With an expense ratio of 0.40%, MMIT seeks to enhance total return potential through active management, differentiating itself through a focus on after-tax returns and portfolio diversification. Past performance does not guarantee future results.
NYLI MacKay Muni Intermediate ETF (MMIT) ETF — Price, Holdings & Analysis
ETF Overview
Risk Metrics
Expense Ratio
How Is the Fund Allocated?
| Sector | Weight |
|---|---|
| Cash & Others | 100.0% |
| Country | Weight |
|---|---|
| Other | 100.0% |
Dividend Yield
- JPMorgan International Bond Opportunities ETF (JPIB) — 0.50% expense ratio
- IDX Dynamic Fixed Income ETF (DYFI) — 1.12% expense ratio
- Invesco Taxable Municipal Bond ETF (BAB) — 0.28% expense ratio
- Bluemonte Long Term Bond ETF (BLTD) — 0.23% expense ratio
- Academy Veteran Impact ETF (VETZ) — 0.35% expense ratio
- Brookstone Intermediate Bond ETF (BAMB) — 1.04% expense ratio
- Invesco Ultra Short Duration ETF (GSY) — 0.22% expense ratio
- Franklin U.S. Core Bond ETF (FLCB) — 0.15% expense ratio
Risk Metrics
- Beta: 0.72
Questions & Answers
What is MMIT and what does it track?
The NYLI MacKay Muni Intermediate ETF (MMIT) is a fixed-income ETF managed by NY Life Investments. It aims to provide current income that is exempt from federal income tax.
The fund primarily invests in investment-grade municipal bonds and uses an active management approach to enhance total return potential.
What is the expense ratio for MMIT?
The expense ratio for the NYLI MacKay Muni Intermediate ETF (MMIT) is 0.40%. This means that for every $10,000 invested in the fund, investors will pay $40 in annual fees.
While this is a factor to consider, it's important to weigh the expense ratio against the fund's potential benefits, such as tax-exempt income and active management.
What are the top holdings in MMIT?
As of the latest data, the NYLI MacKay Muni Intermediate ETF (MMIT) has a significant allocation to Cash & Others, representing 100% of its portfolio.
This allocation may reflect a temporary defensive strategy or a transitional phase in the fund's investment approach.
Is MMIT a good long-term investment?
Whether MMIT is a suitable long-term investment depends on an individual's investment goals, risk tolerance, and tax situation. The fund's focus on tax-exempt income may be attractive to investors in higher tax brackets.
With $1.31 billion in AUM and an expense ratio of 0.40%, MMIT offers exposure to the municipal bond market.
How does MMIT compare to similar ETFs?
MMIT distinguishes itself through its active management approach and focus on tax-exempt income. Compared to passively managed municipal bond ETFs, MMIT's active strategy aims to enhance returns. The ETF has $1.31B in AUM.
Its expense ratio of 0.40% may be higher than some passively managed competitors, but the active management component seeks to justify the higher cost.
Does MMIT pay dividends?
According to the latest data, the NYLI MacKay Muni Intermediate ETF (MMIT) has a dividend yield of 0.00%. This indicates that the fund is not currently distributing dividends to its shareholders.
Investors seeking current income may want to consider other municipal bond ETFs with a history of dividend payments. However, MMIT's focus on tax-exempt income may still be attractive to certain investors, even without regular dividend distributions.