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IWFG vs. MMIN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

IWFG vs. MMIN

Last updated Jun 4, 2026

IWFG (NYLI Winslow Focused Large Cap Growth ETF) and MMIN (IQ MacKay Municipal Insured ETF) are both exchange-traded funds - IWFG is a Large Cap Growth Equities fund actively managed by New York Life, while MMIN is a Municipal Bonds fund tracking the Bloomberg Barclays Municipal All Insured Bond Index. IWFG is actively managed, while MMIN is passively managed. Over the past 3 years, IWFG returned 23.02%/yr vs 4.21%/yr for MMIN. At a 0.09 correlation, their price movements are largely independent. IWFG charges 0.46%/yr vs 0.31%/yr for MMIN.

Performance

IWFG vs. MMIN - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NYLI Winslow Focused Large Cap Growth ETF (IWFG) and IQ MacKay Municipal Insured ETF (MMIN). The values are adjusted to include any dividend payments, if applicable.

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Returns By Period

In the year-to-date period, IWFG achieves a 2.08% return, which is significantly lower than MMIN's 2.32% return.

IWFG

1D
-1.30%
1M
4.41%
YTD
2.08%
6M
1.13%
1Y
11.87%
3Y*
23.02%
5Y*
—
10Y*
—

MMIN

1D
0.00%
1M
0.85%
YTD
2.32%
6M
2.74%
1Y
9.31%
3Y*
4.21%
5Y*
0.74%
10Y*
—
*Multi-year figures are annualized to reflect compound growth (CAGR)

IWFG vs. MMIN - Yearly Performance Comparison

2026 (YTD)2025202420232022
IWFG
NYLI Winslow Focused Large Cap Growth ETF		2.08%14.33%37.56%38.40%3.75%
MMIN
IQ MacKay Municipal Insured ETF		2.32%4.65%0.93%7.45%0.81%

Correlation

The correlation between IWFG and MMIN is 0.18, which is low. Their price movements are largely independent, making them effective diversification partners.

Correlation
Correlation (1Y)
Calculated over the trailing 1-year period

0.18

Correlation (3Y)
Calculated over the trailing 3-year period

0.09

Correlation (All Time)
Calculated using the full available price history since Jun 24, 2022

0.09

IWFG vs. MMIN - Sectors Allocation Comparison

Sectors
IWFG
MMIN

Technology

52.4%

-

Communication Services

13.3%

-

Consumer Cyclical

11.0%

-

Industrials

7.5%

-

Healthcare

5.5%

-

Financial Services

4.8%
-0.9%

Utilities

4.0%

-

Basic Materials

-

-

Consumer Defensive

-

-

Energy

-

-

Real Estate

-

-

Technology

IWFG
52.4%
MMIN

-

Communication Services

IWFG
13.3%
MMIN

-

Consumer Cyclical

IWFG
11.0%
MMIN

-

Industrials

IWFG
7.5%
MMIN

-

Healthcare

IWFG
5.5%
MMIN

-

Financial Services

IWFG
4.8%
MMIN
-0.9%

Utilities

IWFG
4.0%
MMIN

-

Basic Materials

IWFG

-

MMIN

-

Consumer Defensive

IWFG

-

MMIN

-

Energy

IWFG

-

MMIN

-

Real Estate

IWFG

-

MMIN

-

Compare stocks, funds, or ETFs

Search for stocks, ETFs, and funds for a quick comparison or use the comparison tool for more options.

NYLI Winslow Focused Large Cap Growth ETF

IQ MacKay Municipal Insured ETF

Often compared with IWFG:
IWFG vs. QAIIWFG vs. SCHXIWFG vs. MMITIWFG vs. FTCSIWFG vs. CSNDX.MIIWFG vs. ACSIIWFG vs. HFXI
Often compared with MMIN:
MMIN vs. ACTHXMMIN vs. OVMMMIN vs. MMITMMIN vs. ZTAXMMIN vs. JMUBMMIN vs. LQDMMIN vs. IBMM

Return for Risk

IWFG vs. MMIN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
IWFG
IWFG Risk / Return Rank: 1919
Overall Rank
IWFG Sharpe Ratio Rank: 2222
Sharpe Ratio Rank
IWFG Sortino Ratio Rank: 2121
Sortino Ratio Rank
IWFG Omega Ratio Rank: 2121
Omega Ratio Rank
IWFG Calmar Ratio Rank: 1616
Calmar Ratio Rank
IWFG Martin Ratio Rank: 1717
Martin Ratio Rank
MMIN
MMIN Risk / Return Rank: 7474
Overall Rank
MMIN Sharpe Ratio Rank: 7575
Sharpe Ratio Rank
MMIN Sortino Ratio Rank: 8181
Sortino Ratio Rank
MMIN Omega Ratio Rank: 8282
Omega Ratio Rank
MMIN Calmar Ratio Rank: 6666
Calmar Ratio Rank
MMIN Martin Ratio Rank: 6565
Martin Ratio Rank
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.

IWFG vs. MMIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NYLI Winslow Focused Large Cap Growth ETF (IWFG) and IQ MacKay Municipal Insured ETF (MMIN). 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.

IWFGMMINDifference
Sharpe ratioReturn per unit of total volatility
0.72
2.46

-1.74

Sortino ratioReturn per unit of downside risk
1.07
3.66

-2.58

Omega ratioGain probability vs. loss probability

1.13

1.49

-0.36

Calmar ratioReturn relative to maximum drawdown

0.59

3.25

-2.66

Martin ratioReturn relative to average drawdown

1.73

11.93

-10.20

Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

IWFG vs. MMIN - Sharpe Ratio Comparison

The current IWFG Sharpe Ratio is 0.72, which is lower than the MMIN Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of IWFG and MMIN, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

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Sharpe Ratios by Period

IWFGMMINDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

0.72

2.46

-1.74

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

—

0.15

—

Sharpe Ratio (All Time)

Calculated using the full available price history

1.16

0.38

+0.78

Drawdowns

IWFG vs. MMIN - Drawdown Comparison

The maximum IWFG drawdown since its inception was -21.97%, which is greater than MMIN's maximum drawdown of -16.87%. Use the drawdown chart below to compare losses from any high point for IWFG and MMIN.

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Drawdown Indicators

IWFGMMINDifference

Max Drawdown

Largest peak-to-trough decline

-21.97%

-16.87%

-5.10%

Max Drawdown (1Y)

Largest decline over 1 year

-20.20%

-2.87%

-17.33%

Max Drawdown (3Y)

Largest decline over 3 years

-21.97%

-7.22%

-14.75%

Max Drawdown (5Y)

Largest decline over 5 years

—

-16.87%

—

Current Drawdown

Current decline from peak

-2.79%

-0.08%

-2.71%

Average Drawdown

Average peak-to-trough decline

-4.13%

-4.32%

+0.19%

Ulcer Index

Depth and duration of drawdowns from previous peaks

6.89%

0.78%

+6.11%

Volatility

IWFG vs. MMIN - Volatility Comparison

NYLI Winslow Focused Large Cap Growth ETF (IWFG) has a higher volatility of 3.85% compared to IQ MacKay Municipal Insured ETF (MMIN) at 1.16%. This indicates that IWFG's price experiences larger fluctuations and is considered to be riskier than MMIN based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

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Volatility by Period

IWFGMMINDifference

Volatility (1M)

Calculated over the trailing 1-month period

3.85%

1.16%

+2.69%

Volatility (6M)

Calculated over the trailing 6-month period

12.59%

2.49%

+10.10%

Volatility (1Y)

Calculated over the trailing 1-year period

16.50%

3.81%

+12.69%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

20.48%

5.02%

+15.46%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

20.48%

6.97%

+13.51%

IWFG vs. MMIN - Expense Ratio Comparison

IWFG has a 0.46% expense ratio, which is higher than MMIN's 0.31% expense ratio.

Dividends

IWFG vs. MMIN - Dividend Comparison

IWFG has not paid dividends to shareholders, while MMIN's dividend yield for the trailing twelve months is around 4.12%.

PositionTTM202520242023202220212020201920182017
IWFG
NYLI Winslow Focused Large Cap Growth ETF		0.00%0.00%5.44%1.01%0.05%0.00%0.00%0.00%0.00%0.00%
MMIN
IQ MacKay Municipal Insured ETF		4.12%4.07%3.96%3.73%2.93%1.72%2.21%2.75%2.78%0.47%

Frequently Asked Questions

IWFG and MMIN have a correlation of 0.18, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

IWFG has higher volatility (3.85%) compared to MMIN (1.16%). In terms of maximum drawdown, IWFG dropped -21.97% vs MMIN's -16.87%.

On 3-year performance, IWFG leads with 23.02% vs 4.21% for MMIN. On fees, MMIN is cheaper at 0.31% per year. On volatility, MMIN has been the lower-risk option at 1.16%. The better choice depends on whether you care most about return, fees, risk, or income.

Over the 3-year period, IWFG has performed better with a 23.02% return vs 4.21%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

MMIN is cheaper with a 0.31% expense ratio, compared with 0.46% for IWFG.

MMIN has the higher dividend yield at 4.12%, compared with 0.00% for IWFG.

IWFG is categorized as Large Cap Growth Equities, while MMIN is Municipal Bonds. Their fees differ too: 0.46% for IWFG and 0.31% for MMIN.

MMIN currently has the higher Sharpe Ratio (2.46 vs 0.72), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.

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