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 100 ETFs in the Municipal Bonds category with lower expense ratios, going as low as 0.03%.
| Symbol | Name | Expense Ratio | AUM | Inception | |
|---|---|---|---|---|---|
| Schwab Municipal Bond ETF | 0.03% | 4.00B | Oct 2022 | MMMA vs SCMB | |
| Vanguard Tax-Exempt Bond ETF | 0.03% | 47.60B | Aug 2015 | MMMA vs VTEB | |
| Fidelity Systematic Municipal Bond Index ETF | 0.05% | 183.09M | Jul 2019 | MMMA vs FMUN | |
| Northern Trust Short-Term Tax-Exempt Bond ETF | 0.05% | 126.55M | Aug 2025 | MMMA vs TAXS | |
| Northern Trust Intermediate Tax-Exempt Bond ETF | 0.05% | 163.46M | Aug 2025 | MMMA vs TAXI |
Best Risk-Adjusted Alternatives to MMMA
Among 108 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 | 8.64M | Sep 2024 | MMMA vs MYMG | |
| Allspring Ultra Short Municipal ETF | 97 | 30.06M | Jul 2025 | MMMA vs AUSM | |
| State Street My2026 Municipal Bond ETF | 97 | 8.73M | Sep 2024 | MMMA vs MYMF | |
| First Trust Ultra Short Duration Municipal ETF | 97 | 245.94M | Nov 2018 | MMMA vs FUMB | |
| iShares Short Maturity Municipal Bond ETF | 96 | 1.41B | Mar 2015 | MMMA vs MEAR |
Top Performing MMMA Alternatives (YTD)
MMMA is at 3.18% YTD. There are 6 ETFs in the Municipal Bonds category with higher YTD returns, going as high as 4.35%.
| Symbol | Name | YTD Return | AUM | Inception | |
|---|---|---|---|---|---|
| Rareview Tax Advantaged Income ETF | 4.35% | 18.13M | Oct 2020 | MMMA vs RTAI | |
| Xtrackers Municipal Infrastructure Revenue Bond ET... | 4.29% | 143.84M | Jun 2013 | MMMA vs RVNU | |
| First Trust Flexible Municipal High Income ETF | 3.78% | 20.73M | Sep 2016 | MMMA vs MFLX | |
| T. Rowe Price High Income Municipal ETF | 3.74% | 25.42M | Nov 2025 | MMMA vs THYM | |
| Overlay Shares Municipal Bond ETF | 3.62% | 30.60M | Sep 2019 | MMMA vs OVM |
Lowest Volatility Alternatives to MMMA
MMMA has 3.92% 1-year volatility. There are 119 ETFs in the Municipal Bonds category with lower 1-year volatility, going as low as 0.54%.
| Symbol | Name | Volatility 1Y | AUM | Inception | |
|---|---|---|---|---|---|
| F/m Ultrashort Tax-Free Municipal ETF | 0.54% | 33.31M | Sep 2025 | MMMA vs ZMUN | |
| State Street My2026 Municipal Bond ETF | 0.70% | 8.73M | Sep 2024 | MMMA vs MYMF | |
| iShares Short-Term California Muni Active ETF | 0.71% | 408.07M | Oct 2007 | MMMA vs CALI | |
| Allspring Ultra Short Municipal ETF | 0.74% | 30.06M | Jul 2025 | MMMA vs AUSM | |
| First Trust Ultra Short Duration Municipal ETF | 0.81% | 245.94M | Nov 2018 | MMMA vs FUMB |
Lowest Drawdown Alternatives to MMMA
Among 108 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% | 245.94M | Nov 2018 | MMMA vs FUMB | |
| Invesco BulletShares 2026 Municipal Bond ETF | -0.30% | 283.20M | Sep 2019 | MMMA vs BSMQ | |
| Goldman Sachs Ultra Short Municipal Income ETF | -0.36% | 38.99M | Jul 2024 | MMMA vs GUMI | |
| State Street My2027 Municipal Bond ETF | -0.36% | 8.64M | Sep 2024 | MMMA vs MYMG | |
| iShares iBonds Dec 2026 Term Muni Bond ETF | -0.38% | 581.67M | Apr 2019 | MMMA vs IBMO |
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 | 47 | 0.81% | 306.67M | Jun 2021 | MMMA vs CPLB | |
| NYLI Winslow Large Cap Growth ETF | Large Cap Growth Equities | 16 | 2.42% | 629.05M | Jun 2022 | MMMA vs IWLG | |
| NYLI MacKay Muni Short Duration ETF | Municipal Bonds | 83 | 1.41% | 57.46M | May 2025 | MMMA vs MMSD |
Often Compared With MMMA
Investors most often compare MMMA with NYM, INTM, MUNX. These 20 comparison targets span 2 categories, based on PortfoliosLab usage data.
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