- Issuer
- NYLI
- Inception Date
- May 5, 2025
- Region
- North America (U.S.)
- Category
- Municipal Bonds
- Leveraged
- 1x (No leverage)
- Index Tracked
- No Index (Active)
- Domicile
- United States
- Distribution Policy
- Distributing
- Asset Class
- Bond
- Assets Under Management
- $57M
Share Price Chart
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Performance
MMSD Performance Chart
NYLI MacKay Muni Short Duration ETF (MMSD) is up 1.5% since the beginning of the year. MMSD is currently trading at $25 per share.
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Returns By Period
NYLI MacKay Muni Short Duration ETF (MMSD) has returned 1.48% so far this year and 4.46% over the past 12 months.
NYLI MacKay Muni Short Duration ETF
- 1D
- 0.20%
- 1M
- 0.69%
- YTD
- 1.48%
- 6M
- 1.63%
- 1Y
- 4.46%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
Benchmark (S&P 500 Index)
- 1D
- 0.00%
- 1M
- -0.71%
- YTD
- 8.39%
- 6M
- 8.57%
- 1Y
- 24.33%
- 3Y*
- 18.94%
- 5Y*
- 12.24%
- 10Y*
- 13.54%
MMSD Monthly Returns History
Based on dividend-adjusted daily data since May 6, 2025, MMSD's average daily return is +0.02%, while the average monthly return is +0.37%. At this rate, an investment would double in approximately 15.6 years.
Historically, 93% of months were positive and 7% were negative. The best month was Jun 2025 with a return of +0.9%, while the worst month was Mar 2026 at -1.0%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 1 months.
On a daily basis, MMSD closed higher 54% of trading days. The best single day was Apr 7, 2026 with a return of +0.4%, while the worst single day was Mar 24, 2026 at -0.5%.
| Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec | Total | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 2026 | 0.75% | 0.69% | -1.03% | 0.52% | 0.31% | 0.24% | 1.48% | ||||||
| 2025 | 0.28% | 0.85% | 0.58% | 0.79% | 0.51% | 0.02% | 0.36% | 0.28% | 3.72% |
Benchmark Metrics
NYLI MacKay Muni Short Duration ETF has an annualized alpha of 3.81%, beta of 0.03, and R2 of 0.06 versus S&P 500 Index. Calculated based on daily prices since May 06, 2025.
- This ETF captured 11.50% of S&P 500 Index gains and tended to rise during its downturns (downside capture of -2.32%) - a profile typical of hedging or uncorrelated assets.
- Beta of 0.03 may look defensive, but with R2 of 0.06 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 0.06 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
- 3.81%
- Beta
- 0.03
- R²
- 0.06
- Upside Capture
- 11.50%
- Downside Capture
- -2.32%
Expense Ratio
MMSD has an expense ratio of 0.25%, which is considered low.
Return for Risk
Risk / Return Rank
MMSD ranks 82 for risk / return — in the top 82% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.
Return / Risk — by metrics
The table below present risk-adjusted performance metrics for NYLI MacKay Muni Short Duration ETF (MMSD) 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.
| MMSD | Benchmark | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.67 | ||
| Sortino ratioReturn per unit of downside risk | +1.49 | ||
| Omega ratioGain probability vs. loss probability | 1.58 | 1.35 | +0.22 |
| Calmar ratioReturn relative to maximum drawdown | 3.35 | 2.66 | +0.70 |
| Martin ratioReturn relative to average drawdown | 12.80 | 11.86 | +0.93 |
Dividends
Dividend History
NYLI MacKay Muni Short Duration ETF provided a 3.56% dividend yield over the last twelve months, with an annual payout of $0.90 per share.
| Period | TTM | 2025 |
|---|---|---|
| Dividend | $0.90 | $0.58 |
Dividend yield | 3.56% | 2.30% |
Monthly Dividends
The table displays the monthly dividend distributions for NYLI MacKay Muni Short Duration 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 | $0.07 | $0.08 | $0.00 | $0.37 | ||||||
| 2025 | $0.05 | $0.07 | $0.08 | $0.08 | $0.07 | $0.06 | $0.17 | $0.58 |
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 NYLI MacKay Muni Short Duration 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 NYLI MacKay Muni Short Duration ETF was 1.35%, occurring on Mar 26, 2026. Recovery took 53 trading sessions.
Related event | Drawdown | Fall | Recovery | Underwater |
|---|---|---|---|---|
2026 pullback2026 | -1.35%Mar 2026 | 27d | 2mo 17d | 3mo 14dFeb 2026 - Jun 2026 |
2025 pullback2025 | -0.49%Nov 2025 | 1mo 20d | 1mo 11d | 3mo 1dSep 2025 - Dec 2025 |
2025 selloff2025 | -0.36%May 2025 | 2d | 6d | 8dMay 2025 - May 2025 |
2025 selloff2025 | -0.22%May 2025 | 7d | 1d | 8dMay 2025 - May 2025 |
2026 pullback2026 | -0.19%Jun 2026 | 5d | 1d | 6dJun 2026 - Jun 2026 |
Drawdown Indicators
| MMSD | Benchmark | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -1.35% | -56.78% | +55.43% |
Max Drawdown (1Y)Largest decline over 1 year | -1.35% | -9.10% | +7.75% |
Max Drawdown (3Y)Largest decline over 3 years | — | -18.90% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -25.43% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -33.92% | — |
Current DrawdownCurrent decline from peak | 0.00% | -2.49% | +2.49% |
Average DrawdownAverage peak-to-trough decline | -0.21% | -10.72% | +10.51% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.35% | 2.03% | -1.68% |
Volatility
Volatility Chart
The chart below shows the rolling one-month volatility.
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