IWLG vs. MMMA
IWLG (NYLI Winslow Large Cap Growth ETF) and MMMA (NYLI MacKay Muni Allocation ETF) are both exchange-traded funds - IWLG is a Large Cap Growth Equities fund actively managed by NYLI, while MMMA is a Municipal Bonds fund actively managed by NYLI. Both are actively managed. Their 0.31 correlation means their historical movements had little consistent relationship. IWLG charges 0.50%/yr vs 0.35%/yr for MMMA.
Performance
IWLG vs. MMMA - Performance Comparison
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Returns By Period
In the year-to-date period, IWLG achieves a 5.56% return, which is significantly higher than MMMA's 2.85% return.
IWLG
- 1D
- 2.81%
- 1M
- 3.33%
- 6M
- 10.45%
- YTD
- 5.56%
- 1Y
- 9.25%
- 3Y*
- 21.69%
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- 22.63%
MMMA
- 1D
- 0.39%
- 1M
- -1.14%
- 6M
- 1.35%
- YTD
- 2.85%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
- ALL TIME*
- —
Liquidity Comparison
| Position | Avg. Volume Value (2W) | Avg. Volume Value (1M) | Avg. Volume Value (3M) |
|---|---|---|---|
| $1.72M | $1.42M | $1.37M | |
| $143.96K | $107.64K | $51.93K |
IWLG vs. MMMA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
IWLG NYLI Winslow Large Cap Growth ETF | 5.56% | 1.29% |
MMMA NYLI MacKay Muni Allocation ETF | 2.85% | 0.35% |
Correlation
The correlation between IWLG and MMMA is 0.31, which is low. Their historical price movements had little consistent relationship.
| Correlation | |
|---|---|
Correlation (All Time) Calculated using the full available price history since Dec 16, 2025 | 0.31 |
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Return for Risk
IWLG vs. MMMA — Risk / Return Rank
IWLG
MMMA
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
IWLG vs. MMMA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NYLI Winslow Large Cap Growth ETF (IWLG) 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.
| IWLG | MMMA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.10 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 0.48 | — | — |
| Martin ratioReturn relative to average drawdown | 1.39 | — | — |
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Drawdowns
IWLG vs. MMMA - Drawdown Comparison
The maximum IWLG drawdown since its inception was -23.19%, which is greater than MMMA's maximum drawdown of -2.79%. Use the drawdown chart below to compare losses from any high point for IWLG and MMMA.
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Drawdown Indicators
| IWLG | MMMA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -23.19% | -2.79% | -20.40% |
Max Drawdown (1Y)Largest decline over 1 year | -19.45% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -23.19% | — | — |
Current DrawdownCurrent decline from peak | -1.42% | -1.25% | -0.17% |
Average DrawdownAverage peak-to-trough decline | -4.56% | -0.61% | -3.95% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 6.67% | — | — |
Volatility
IWLG vs. MMMA - Volatility Comparison
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Volatility by Period
| IWLG | MMMA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 7.00% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 15.47% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 18.88% | 4.04% | +14.84% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 21.20% | 4.04% | +17.16% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 21.20% | 4.04% | +17.16% |
IWLG vs. MMMA - Expense Ratio Comparison
IWLG has a 0.50% expense ratio, which is higher than MMMA's 0.35% expense ratio.
Dividends
IWLG vs. MMMA - Dividend Comparison
IWLG has not paid dividends to shareholders, while MMMA's dividend yield for the trailing twelve months is around 2.68%.
| Position | TTM | 2025 | 2024 | 2023 | 2022 |
|---|---|---|---|---|---|
IWLG NYLI Winslow Large Cap Growth ETF | 0.00% | 0.00% | 1.34% | 0.01% | 0.05% |
MMMA NYLI MacKay Muni Allocation ETF | 2.68% | 0.17% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
IWLG and MMMA have a correlation of 0.31, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, MMMA is cheaper at 0.35% per year. The better choice depends on whether you care most about return, fees, risk, or income.
MMMA is cheaper with a 0.35% expense ratio, compared with 0.50% for IWLG.
MMMA has the higher dividend yield at 2.68%, compared with 0.00% for IWLG.
IWLG is categorized as Large Cap Growth Equities, while MMMA is Municipal Bonds. Their fees differ too: 0.50% for IWLG and 0.35% for MMMA.
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