- Issuer
- New York Life
- Inception Date
- Oct 18, 2017
- Region
- North America (U.S.)
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- Bloomberg Barclays Municipal All Insured Bond Index
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $417M
Share Price Chart
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Performance
MMIN Performance Chart
IQ MacKay Municipal Insured ETF (MMIN) is up 2.7% since the beginning of the year. MMIN is currently trading at $24 per share. Investors who bought $1,000 worth of MMIN shares 5 years ago would now be looking at an investment worth $1,041.
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Returns By Period
IQ MacKay Municipal Insured ETF (MMIN) has returned 2.70% so far this year and 8.72% over the past 12 months.
IQ MacKay Municipal Insured ETF
- 1D
- 0.25%
- 1M
- 1.86%
- YTD
- 2.70%
- 6M
- 2.80%
- 1Y
- 8.72%
- 3Y*
- 3.97%
- 5Y*
- 0.81%
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- -0.37%
- 1M
- -0.01%
- YTD
- 9.16%
- 6M
- 8.64%
- 1Y
- 25.22%
- 3Y*
- 19.78%
- 5Y*
- 11.99%
- 10Y*
- 13.88%
MMIN Monthly Returns History
Based on dividend-adjusted daily data since Oct 18, 2017, MMIN's average daily return is +0.01%, while the average monthly return is +0.23%. At this rate, an investment would double in approximately 25.1 years.
Historically, 59% of months were positive and 41% were negative. The best month was Nov 2023 with a return of +7.1%, while the worst month was Sep 2022 at -4.5%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.
On a daily basis, MMIN closed higher 47% of trading days. The best single day was May 16, 2018 with a return of +8.7%, while the worst single day was May 17, 2018 at -8.1%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.88% | 1.51% | -2.33% | 1.48% | 0.51% | 0.67% | 2.70% | ||||||
| 2025 | 0.50% | 1.45% | -2.19% | -0.66% | -0.54% | 0.84% | -1.05% | 1.19% | 3.21% | 1.51% | 0.30% | 0.09% | 4.65% |
| 2024 | -0.12% | -0.09% | -0.20% | -1.48% | 0.08% | 1.27% | 1.33% | 0.34% | 1.65% | -1.64% | 1.79% | -1.90% | 0.93% |
| 2023 | 3.62% | -2.65% | 2.56% | -0.05% | -0.76% | 0.88% | 0.02% | -1.55% | -3.23% | -1.78% | 7.09% | 3.56% | 7.45% |
| 2022 | -2.73% | -0.66% | -3.47% | -3.42% | 1.42% | -2.59% | 2.94% | -3.07% | -4.45% | -1.23% | 6.34% | -0.38% | -11.20% |
| 2021 | 0.45% | -2.06% | 0.64% | 1.05% | 0.41% | 0.38% | 0.82% | -0.39% | -0.88% | -0.08% | 1.01% | 0.04% | 1.35% |
Benchmark Metrics
IQ MacKay Municipal Insured ETF has an annualized alpha of 1.95%, beta of 0.07, and R2 of 0.03 versus S&P 500 Index. Calculated based on daily prices since October 18, 2017.
- This ETF participated in 22.22% of S&P 500 Index downside but only 16.15% of its upside - more exposed to losses than it benefited from rallies.
- Beta of 0.07 may look defensive, but with R2 of 0.03 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
- R2 of 0.03 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.
- Alpha
- 1.95%
- Beta
- 0.07
- R²
- 0.03
- Upside Capture
- 16.15%
- Downside Capture
- 22.22%
Expense Ratio
MMIN has an expense ratio of 0.31%, placing it in the medium range.
Return for Risk
Risk / Return Rank
MMIN ranks 74 for risk / return — better than 74% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for IQ MacKay Municipal Insured ETF (MMIN) and compare them to S&P 500 Index.
Values are calculated on a 1-year rolling basis and updated daily. Risk-adjusted metrics are more stable over longer periods — use the period switch above to explore them.
| MMIN | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.34 | ||
| Sortino ratioReturn per unit of downside risk | +0.75 | ||
| Omega ratioGain probability vs. loss probability | 1.47 | 1.37 | +0.11 |
| Calmar ratioReturn relative to maximum drawdown | 3.05 | 2.78 | +0.26 |
| Martin ratioReturn relative to average drawdown | 11.19 | 12.44 | -1.25 |
Dividends
Dividend History
IQ MacKay Municipal Insured ETF provided a 4.11% dividend yield over the last twelve months, with an annual payout of $0.99 per share. The fund has been increasing its distributions for 4 consecutive years.
| Period | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 |
|---|---|---|---|---|---|---|---|---|---|---|
| Dividend | $0.99 | $0.97 | $0.94 | $0.92 | $0.69 | $0.47 | $0.61 | $0.72 | $0.70 | $0.12 |
Dividend yield | 4.11% | 4.07% | 3.96% | 3.73% | 2.93% | 1.72% | 2.21% | 2.75% | 2.78% | 0.47% |
Monthly Dividends
The table displays the monthly dividend distributions for IQ MacKay Municipal Insured ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | $0.08 | $0.07 | $0.08 | $0.08 | $0.08 | $0.00 | $0.40 | ||||||
| 2025 | $0.00 | $0.08 | $0.07 | $0.16 | $0.00 | $0.08 | $0.11 | $0.08 | $0.08 | $0.08 | $0.08 | $0.16 | $0.97 |
| 2024 | $0.00 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.15 | $0.94 |
| 2023 | $0.00 | $0.08 | $0.07 | $0.08 | $0.08 | $0.07 | $0.08 | $0.08 | $0.08 | $0.08 | $0.08 | $0.16 | $0.92 |
| 2022 | $0.00 | $0.04 | $0.04 | $0.05 | $0.05 | $0.06 | $0.05 | $0.06 | $0.06 | $0.07 | $0.07 | $0.15 | $0.69 |
| 2021 | $0.00 | $0.03 | $0.03 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.04 | $0.09 | $0.47 |
Drawdowns
Drawdowns Chart
The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.
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Worst Drawdowns
The table below displays the maximum drawdowns of the IQ MacKay Municipal Insured ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.
The maximum drawdown for the IQ MacKay Municipal Insured ETF was 16.87%, occurring on Oct 28, 2022. Recovery took 749 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
Bear market2022 | -16.87%Oct 2022 | 1y 3mo | 2y 12mo | 4y 2moJul 2021 - Oct 2025 |
COVID crash2020 | -13.91%Mar 2020 | 10d | 3mo 25d | 4mo 5dMar 2020 - Jul 2020 |
Rate-hike selloffLate 2018 | -8.85%Nov 2018 | 5mo 23d | 8mo 28d | 1y 2moMay 2018 - Aug 2019 |
2026 pullback2026 | -2.87%Mar 2026 | 24d | 2mo 17d | 3mo 11dMar 2026 - Jun 2026 |
2021 pullback2021 | -2.60%Feb 2021 | 8d | 3mo 14d | 3mo 22dFeb 2021 - Jun 2021 |
Drawdown Indicators
| MMIN | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -16.87% | -56.78% | +39.91% |
Max Drawdown (1Y)Largest decline over 1 year | -2.87% | -9.10% | +6.23% |
Max Drawdown (3Y)Largest decline over 3 years | -7.22% | -18.90% | +11.68% |
Max Drawdown (5Y)Largest decline over 5 years | -16.87% | -25.43% | +8.56% |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -1.80% | +1.80% |
Average DrawdownAverage peak-to-trough decline | -4.30% | -10.71% | +6.41% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.78% | 2.03% | -1.25% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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