MINO vs. MMMA
MINO (PIMCO Municipal Income Opportunities Active Exchange-Traded Fund) and MMMA (NYLI MacKay Muni Allocation ETF) are both Municipal Bonds funds. Both are actively managed. A 0.73 correlation means they provide meaningful diversification when combined. MINO charges 0.39%/yr vs 0.35%/yr for MMMA.
Performance
MINO vs. MMMA - Performance Comparison
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Returns By Period
In the year-to-date period, MINO achieves a 2.24% return, which is significantly lower than MMMA's 3.45% return.
MINO
- 1D
- -0.04%
- 1M
- 1.62%
- YTD
- 2.24%
- 6M
- 2.29%
- 1Y
- 7.49%
- 3Y*
- 4.61%
- 5Y*
- —
- 10Y*
- —
MMMA
- 1D
- -0.09%
- 1M
- 1.64%
- YTD
- 3.45%
- 6M
- 3.56%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MINO vs. MMMA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MINO PIMCO Municipal Income Opportunities Active Exchange-Traded Fund | 2.24% | 0.26% |
MMMA NYLI MacKay Muni Allocation ETF | 3.45% | 0.35% |
Correlation
The correlation between MINO and MMMA is 0.73, 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 | 0.73 |
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Return for Risk
MINO vs. MMMA — Risk / Return Rank
MINO
MMMA
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MINO vs. MMMA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for PIMCO Municipal Income Opportunities Active Exchange-Traded Fund (MINO) 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.
| MINO | MMMA | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | 1.61 | — | — |
| Calmar ratioReturn relative to maximum drawdown | 3.12 | — | — |
| Martin ratioReturn relative to average drawdown | 11.17 | — | — |
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Drawdowns
MINO vs. MMMA - Drawdown Comparison
The maximum MINO drawdown since its inception was -15.24%, which is greater than MMMA's maximum drawdown of -2.79%. Use the drawdown chart below to compare losses from any high point for MINO and MMMA.
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Drawdown Indicators
| MINO | MMMA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -15.24% | -2.79% | -12.45% |
Max Drawdown (1Y)Largest decline over 1 year | -2.41% | — | — |
Max Drawdown (3Y)Largest decline over 3 years | -5.34% | — | — |
Current DrawdownCurrent decline from peak | -0.04% | -0.09% | +0.05% |
Average DrawdownAverage peak-to-trough decline | -4.21% | -0.55% | -3.66% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.67% | — | — |
Volatility
MINO vs. MMMA - Volatility Comparison
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Volatility by Period
| MINO | MMMA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.72% | — | — |
Volatility (6M)Calculated over the trailing 6-month period | 1.90% | — | — |
Volatility (1Y)Calculated over the trailing 1-year period | 2.71% | 4.04% | -1.33% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.52% | 4.04% | +0.48% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.52% | 4.04% | +0.48% |
MINO vs. MMMA - Expense Ratio Comparison
MINO has a 0.39% expense ratio, which is higher than MMMA's 0.35% expense ratio.
Dividends
MINO vs. MMMA - Dividend Comparison
MINO's dividend yield for the trailing twelve months is around 3.88%, more than MMMA's 1.95% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
MINO PIMCO Municipal Income Opportunities Active Exchange-Traded Fund | 3.88% | 3.71% | 3.91% | 3.78% | 2.87% | 0.29% |
MMMA NYLI MacKay Muni Allocation ETF | 1.95% | 0.17% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MINO and MMMA have a correlation of 0.73, 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 0.39% for MINO.
MINO has the higher dividend yield at 3.88%, compared with 1.95% for MMMA.
They also come from different issuers: PIMCO and NYLI. Their fees differ too: 0.39% for MINO and 0.35% for MMMA.
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