NYLI MacKay DefinedTerm Muni Opportunities Fund (MMD) belongs to the Municipal Bonds category. Below you'll find alternative mutual funds from the same category, ranked by key criteria, plus funds that investors commonly compare with MMD. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to MMD
MMD charges 0.03% annually. There are 3 mutual funds in the Municipal Bonds category with lower expense ratios, going as low as 0.01%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Western Asset Managed Municipals Fund Inc | 0.01% | — | Jun 1992 | MMD vs MMU | |
| Western Asset SMASh Series TF Fund | 0.01% | — | Dec 2015 | MMD vs LSMSX | |
| Eaton Vance Municipal Bond Fund | 0.01% | — | Dec 1993 | MMD vs EIM | |
| Nuveen Select Maturities Municipal Fund | 0.03% | — | Sep 1992 | MMD vs NIM | |
| Nuveen New York Municipal Value Fund | 0.03% | — | Oct 1987 | MMD vs NNY |
Best Risk-Adjusted Alternatives to MMD
MMD has a PortfoliosLab risk / return rank of 22. There are 486 mutual funds in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short-Term Selective State Municipal Bond Port... | 100 | — | Apr 2022 | MMD vs DFABX | |
| DFA Short Term Municipal Bond Portfolio | 100 | — | Aug 2002 | MMD vs DFSMX | |
| abrdn Ultra Short Municipal Income Fund | 99 | — | Dec 2002 | MMD vs ATOIX | |
| Federated Hermes Conservative Municipal Microshort... | 99 | — | Feb 2021 | MMD vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | 99 | — | Apr 2016 | MMD vs TFCYX |
Top Performing MMD Alternatives (YTD)
MMD is at 5.32% YTD. There are 21 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 16.33%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Massachusetts Quality Municipal Income Fund | 16.33% | — | Jan 1993 | MMD vs NMT | |
| RiverNorth Opportunistic Municipal Income Fund | 13.39% | — | — | MMD vs RMI | |
| RiverNorth Flexible Municipal Income Fund II Inc. | 11.28% | — | — | MMD vs RFMZ | |
| Nuveen Municipal Income Fund, Inc. | 11.06% | — | Apr 1998 | MMD vs NMI | |
| Nuveen New York AMT Free Quality Municipal Income | 10.21% | — | Nov 2002 | MMD vs NRK |
Lowest Volatility Alternatives to MMD
MMD has 8.68% 1-year volatility. There are 474 mutual funds in the Municipal Bonds category with lower 1-year volatility, going as low as 0.55%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.55% | — | Aug 2002 | MMD vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 0.56% | — | Apr 2022 | MMD vs DFABX | |
| DFA California Short Term Municipal Bond Portfolio | 0.57% | — | Apr 2007 | MMD vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.58% | — | May 2016 | MMD vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.59% | — | May 2016 | MMD vs USMTX |
Lowest Drawdown Alternatives to MMD
MMD has a 1-year max drawdown of -7.41%. There are 483 mutual funds in the Municipal Bonds category with shallower 1-year drawdowns, going as shallow as 0.00%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| BlackRock Allocation Target Shares | 0.00% | — | May 2021 | MMD vs BATVX | |
| abrdn Ultra Short Municipal Income Fund | -0.10% | — | Dec 2002 | MMD vs ATOIX | |
| Federated Hermes Conservative Municipal Microshort... | -0.10% | — | Feb 2021 | MMD vs FHMIX | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | MMD vs TFCYX | |
| DFA Short-Term Selective State Municipal Bond Port... | -0.11% | — | Apr 2022 | MMD vs DFABX |
Often Compared With MMD
Investors most often compare MMD with NAC, RMMZ, MHF. These 17 comparison targets span 1 categories, based on PortfoliosLab usage data.
Compare MMD with Any Fund or Stock
Compare MMD with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair MMD with funds that move differently
NYLI MacKay DefinedTerm Muni Opportunities Fund alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to MMD.
Explore MMD Diversifiers