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 Minnesota Quality Municipal Income Fund | 0.03% | — | Jun 1993 | MMD vs NMS |
Best Risk-Adjusted Alternatives to MMD
MMD has a PortfoliosLab risk / return rank of 24. There are 483 mutual funds in the Municipal Bonds category with higher risk-adjusted ranks, going as high as 100.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| abrdn Ultra Short Municipal Income Fund | 100 | — | Dec 2002 | MMD vs ATOIX | |
| DFA Short Term Municipal Bond Portfolio | 100 | — | Aug 2002 | MMD vs DFSMX | |
| DFA Short-Term Selective State Municipal Bond Port... | 100 | — | Apr 2022 | MMD vs DFABX | |
| 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 3.43% YTD. There are 14 mutual funds in the Municipal Bonds category with higher YTD returns, going as high as 15.79%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Nuveen Massachusetts Quality Municipal Income Fund | 15.79% | — | Jan 1993 | MMD vs NMT | |
| RiverNorth Opportunistic Municipal Income Fund | 13.89% | — | — | MMD vs RMI | |
| Nuveen Municipal Income Fund, Inc. | 11.94% | — | Apr 1998 | MMD vs NMI | |
| RiverNorth Flexible Municipal Income Fund II Inc. | 7.65% | — | — | MMD vs RFMZ | |
| BlackRock MuniYield Michigan Quality Fund | 7.21% | — | Oct 1992 | MMD vs MIY |
Lowest Volatility Alternatives to MMD
MMD has 8.61% 1-year volatility. There are 471 mutual funds in the Municipal Bonds category with lower 1-year volatility, going as low as 0.54%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| DFA Short Term Municipal Bond Portfolio | 0.54% | — | 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 | 0.59% | — | Apr 2007 | MMD vs DFCMX | |
| JPMorgan Ultra-Short Municipal Fund | 0.63% | — | May 2016 | MMD vs USMSX | |
| JPMorgan Ultra-Short Municipal Fund | 0.65% | — | May 2016 | MMD vs USMTX |
Lowest Drawdown Alternatives to MMD
MMD has a 1-year max drawdown of -7.41%. There are 481 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 | |
| SEI Institutional Managed Trust Tax-Free Conservat... | -0.10% | — | Apr 2016 | MMD vs TFCYX | |
| 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 | |
| DFA Short-Term Selective State Municipal Bond Port... | -0.11% | — | Apr 2022 | MMD vs DFABX |
Other Mutual Funds from New York Life
The 10 most viewed New York Life mutual funds shown here include MLAAX, MSXAX, MHCAX and span 9 categories.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| MainStay Winslow Large Cap Growth Fund | Large Cap Growth Equities | 6 | -0.57% | — | Jul 1995 | MMD vs MLAAX | |
| NYLI S&P 500 Index Class A | S&P 500 | 58 | 9.05% | — | Jan 2004 | MMD vs MSXAX | |
| MainStay MacKay High Yield Corporate Bond Fund Cla... | High Yield Bonds | 79 | 1.49% | — | May 1986 | MMD vs MHCAX | |
| MainStay Epoch Global Equity Yield Fund | Global Equities | 96 | 21.42% | — | Dec 2005 | MMD vs EPSYX | |
| MainStay S&P 500 Index Fund | Large Cap Blend Equities | 58 | 9.20% | — | Jan 1991 | MMD vs MSPIX | |
| MainStay MacKay Short Term Municipal Fund | Municipal Bonds | 74 | 0.71% | — | Jan 1991 | MMD vs MSTIX | |
| MainStay CBRE Real Estate Fund | REIT | 53 | 18.63% | — | Dec 1996 | MMD vs CRARX | |
| MainStay WMC Growth Fund | Large Cap Growth Equities | 5 | -3.70% | — | Aug 2006 | MMD vs KLGAX | |
| MainStay Floating Rate Fund | Bank Loan | 69 | 1.04% | — | May 2004 | MMD vs MXFIX | |
| MainStay Epoch U.S. Equity Yield Fund | Large Cap Value Equities | 92 | 17.51% | — | Dec 2008 | MMD vs EPLCX |
Often Compared With MMD
Investors most often compare MMD with NAC, RMMZ, MHF. These 18 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