CPLB vs. MMMA

Last updated Jun 24, 2026

CPLB (NYLI MacKay Core Plus Bond ETF) and MMMA (NYLI MacKay Muni Allocation ETF) are both exchange-traded funds - CPLB is a Intermediate Core-Plus Bond fund actively managed by NYLI, while MMMA is a Municipal Bonds fund actively managed by NYLI. Both are actively managed. A 0.60 correlation means they provide meaningful diversification when combined. CPLB charges 0.30%/yr vs 0.35%/yr for MMMA.

Performance

CPLB vs. MMMA - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NYLI MacKay Core Plus Bond ETF (CPLB) and NYLI MacKay Muni Allocation ETF (MMMA). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, CPLB achieves a 0.79% return, which is significantly lower than MMMA's 3.45% return.

CPLB

• 1D: 0.05%
• 1M: 0.57%
• YTD: 0.79%
• 6M: 1.02%
• 1Y: 4.46%
• 3Y*: 5.66%
• 5Y*: —
• 10Y*: —

MMMA

• 1D: -0.09%
• 1M: 1.64%
• YTD: 3.45%
• 6M: 3.56%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

CPLB vs. MMMA - Yearly Performance Comparison

	2026 (YTD)	2025
CPLB NYLI MacKay Core Plus Bond ETF	0.79%	0.41%
MMMA NYLI MacKay Muni Allocation ETF	3.45%	0.35%

Correlation

The correlation between CPLB and MMMA is 0.60, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 16, 2025	0.60

Return for Risk

CPLB vs. MMMA — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

CPLB

CPLB Risk / Return Rank: 36
CPLB Sharpe Ratio Rank: 37
CPLB Sortino Ratio Rank: 37
CPLB Omega Ratio Rank: 35
CPLB Calmar Ratio Rank: 37
CPLB Martin Ratio Rank: 35

MMMA

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

CPLB vs. MMMA - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NYLI MacKay Core Plus Bond ETF (CPLB) and NYLI MacKay Muni Allocation ETF (MMMA). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

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.

	CPLB	MMMA	Difference
Sharpe ratio: Return per unit of total volatility	1.22	—	—
Sortino ratio: Return per unit of downside risk	1.78	—	—
Omega ratio: Gain probability vs. loss probability	1.22	—	—
Calmar ratio: Return relative to maximum drawdown	1.72	—	—
Martin ratio: Return relative to average drawdown	4.99	—	—

Drawdowns

CPLB vs. MMMA - Drawdown Comparison

The maximum CPLB drawdown since its inception was -18.96%, which is greater than MMMA's maximum drawdown of -2.79%. Use the drawdown chart below to compare losses from any high point for CPLB and MMMA.

Drawdown Indicators

	CPLB	MMMA	Difference
Max Drawdown Largest peak-to-trough decline	-18.96%	-2.79%	-16.17%
Max Drawdown (1Y) Largest decline over 1 year	-2.60%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-5.90%	—	—
Current Drawdown Current decline from peak	-1.15%	-0.09%	-1.06%
Average Drawdown Average peak-to-trough decline	-7.01%	-0.55%	-6.46%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.90%	—	—

Volatility

Volatility by Period

	CPLB	MMMA	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.99%	—	—
Volatility (6M) Calculated over the trailing 6-month period	2.79%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	3.69%	4.04%	-0.35%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	5.02%	4.04%	+0.98%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	5.02%	4.04%	+0.98%

CPLB vs. MMMA - Expense Ratio Comparison

CPLB has a 0.30% expense ratio, which is lower than MMMA's 0.35% expense ratio.

Dividends

CPLB vs. MMMA - Dividend Comparison

CPLB's dividend yield for the trailing twelve months is around 5.49%, more than MMMA's 1.95% yield.

Position	TTM	2025	2024	2023	2022	2021
CPLB NYLI MacKay Core Plus Bond ETF	5.49%	5.46%	5.40%	4.82%	3.17%	0.95%
MMMA NYLI MacKay Muni Allocation ETF	1.95%	0.17%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both CPLB and MMMA in my portfolio?

CPLB and MMMA have a correlation of 0.60, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, CPLB or MMMA?

On fees, CPLB is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, CPLB or MMMA?

CPLB is cheaper with a 0.30% expense ratio, compared with 0.35% for MMMA.

Which ETF pays a higher dividend yield, CPLB or MMMA?

CPLB has the higher dividend yield at 5.49%, compared with 1.95% for MMMA.

What is the main difference between CPLB and MMMA?

CPLB is categorized as Intermediate Core-Plus Bond, while MMMA is Municipal Bonds. Their fees differ too: 0.30% for CPLB and 0.35% for MMMA.