NYLI MacKay Muni Allocation ETF (MMMA) belongs to the Municipal Bonds category. Below you'll find alternative ETFs from the same category, ranked by key criteria, plus funds that investors commonly compare with MMMA. Use the tables to find lower-cost options, better risk-adjusted returns, or a closer substitute for your current allocation.
Cheapest Alternatives to MMMA
MMMA charges 0.35% annually. There are 104 ETFs in the Municipal Bonds category with lower expense ratios, going as low as 0.03%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Vanguard Tax-Exempt Bond ETF | 0.03% | 45.70B | Aug 2015 | MMMA vs VTEB | |
| Schwab Municipal Bond ETF | 0.03% | 3.87B | Oct 2022 | MMMA vs SCMB | |
| Fidelity Systematic Municipal Bond Index ETF | 0.05% | 178.36M | Jul 2019 | MMMA vs FMUN | |
| Northern Trust Tax-Exempt Bond ETF | 0.05% | 59.79M | Aug 2025 | MMMA vs TAXT | |
| Northern Trust Short-Term Tax-Exempt Bond ETF | 0.05% | 94.44M | Aug 2025 | MMMA vs TAXS |
Best Risk-Adjusted Alternatives to MMMA
Among 110 ETFs in the Municipal Bonds category with risk / return rank data, the top risk-adjusted alternatives shown here go as high as 98.
| Symbol | Name | Risk / Return Rank | AUM | Inception | |
|---|---|---|---|---|---|
| State Street My2027 Municipal Bond ETF | 98 | 9.88M | Sep 2024 | MMMA vs MYMG | |
| State Street My2026 Municipal Bond ETF | 96 | 8.74M | Sep 2024 | MMMA vs MYMF | |
| First Trust Ultra Short Duration Municipal ETF | 96 | 230.57M | Nov 2018 | MMMA vs FUMB | |
| iShares Short Maturity Municipal Bond ETF | 96 | 1.38B | Mar 2015 | MMMA vs MEAR | |
| iShares Short-Term California Muni Active ETF | 94 | 360.67M | Oct 2007 | MMMA vs CALI |
Top Performing MMMA Alternatives (YTD)
MMMA is at 3.03% YTD. There are 4 ETFs in the Municipal Bonds category with higher YTD returns, going as high as 3.86%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 3.86% | 138.42M | Jun 2013 | MMMA vs RVNU | |
| Overlay Shares Municipal Bond ETF | 3.41% | 30.60M | Sep 2019 | MMMA vs OVM | |
| T. Rowe Price High Income Municipal ETF | 3.16% | 25.30M | Nov 2025 | MMMA vs THYM | |
| First Trust Flexible Municipal High Income ETF | 3.15% | 18.90M | Sep 2016 | MMMA vs MFLX | |
| SPDR Nuveen Bloomberg Barclays High Yield Municipa... | 2.87% | 2.93B | Apr 2011 | MMMA vs HYMB |
Lowest Volatility Alternatives to MMMA
MMMA has 4.15% 1-year volatility. There are 128 ETFs in the Municipal Bonds category with lower 1-year volatility, going as low as 0.00%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| iShares iBonds Dec 2024 Term Muni Bond ETF | 0.00% | 349.85M | Mar 2018 | MMMA vs IBMM | |
| F/m Ultrashort Tax-Free Municipal ETF | 0.54% | 27.03M | Sep 2025 | MMMA vs ZMUN | |
| iShares iBonds Dec 2025 Term Muni Bond ETF | 0.71% | 348.98M | Nov 2018 | MMMA vs IBMN | |
| Allspring Ultra Short Municipal ETF | 0.73% | 30.06M | Jul 2025 | MMMA vs AUSM | |
| State Street My2026 Municipal Bond ETF | 0.75% | 8.74M | Sep 2024 | MMMA vs MYMF |
Lowest Drawdown Alternatives to MMMA
Among 110 ETFs in the Municipal Bonds category with 1-year drawdown data, the lowest-drawdown alternatives shown here go as shallow as -0.22%.
| Symbol | Name | Max Drawdown 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| First Trust Ultra Short Duration Municipal ETF | -0.22% | 230.57M | Nov 2018 | MMMA vs FUMB | |
| iShares iBonds Dec 2025 Term Muni Bond ETF | -0.25% | 348.98M | Nov 2018 | MMMA vs IBMN | |
| Invesco BulletShares 2026 Municipal Bond ETF | -0.33% | 294.75M | Sep 2019 | MMMA vs BSMQ | |
| Goldman Sachs Ultra Short Municipal Income ETF | -0.36% | 40.29M | Jul 2024 | MMMA vs GUMI | |
| State Street My2027 Municipal Bond ETF | -0.36% | 9.88M | Sep 2024 | MMMA vs MYMG |
Other ETFs from NYLI
The 3 most viewed NYLI ETFs shown here include CPLB, IWLG, MMSD and span 3 categories. AUM among these funds goes as high as $629M.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| NYLI MacKay Core Plus Bond ETF | Intermediate Core-Plus Bond | 39 | 0.31% | 306.67M | Jun 2021 | MMMA vs CPLB | |
| NYLI Winslow Large Cap Growth ETF | Large Cap Growth Equities | 20 | 1.37% | 629.05M | Jun 2022 | MMMA vs IWLG | |
| NYLI MacKay Muni Short Duration ETF | Municipal Bonds | 83 | 1.22% | 57.46M | May 2025 | MMMA vs MMSD |
Often Compared With MMMA
Investors most often compare MMMA with MUNA, MUND, MUNX. These 5 comparison targets span 1 categories, based on PortfoliosLab usage data.
| Symbol | Name | Category | Risk / Return Rank | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|---|---|
| Northern Trust 2030 Tax-Exempt Distributing Ladder... | Municipal Bonds | — | 1.59% | 8.01M | Aug 2025 | MMMA vs MUNA | |
| Northern Trust 2055 Tax-Exempt Distributing Ladder... | Municipal Bonds | — | 1.28% | 8.24M | Aug 2025 | MMMA vs MUND | |
| AMG GW&K Muni Income ETF | Municipal Bonds | — | 1.74% | 19.52M | Oct 2025 | MMMA vs MUNX | |
| Northern Trust 2045 Tax-Exempt Distributing Ladder... | Municipal Bonds | — | 0.96% | 8.20M | Aug 2025 | MMMA vs MUNC | |
| Northern Trust 2035 Tax-Exempt Distributing Ladder... | Municipal Bonds | — | 0.68% | 14.10M | Aug 2025 | MMMA vs MUNB |
Compare MMMA with Any Fund or Stock
Compare MMMA with any ETF, mutual fund, or stock using PortfoliosLab's comparison tool.
Pair MMMA with funds that move differently
NYLI MacKay Muni Allocation ETF alternatives help with substitution. Diversifiers are the next step when you want funds with lower historical correlation to MMMA.
Explore MMMA Diversifiers