MMIT vs. IQSU

Last updated Jun 4, 2026

MMIT (IQ MacKay Municipal Intermediate ETF) and IQSU (IQ Candriam ESG U.S. Equity ETF) are both exchange-traded funds - MMIT is a Municipal Bonds fund actively managed by New York Life, while IQSU is a Large Cap Growth Equities fund tracking the IQ Candriam ESG US Equity Index. MMIT is actively managed, while IQSU is passively managed. Over the past 5 years, MMIT returned 1.11%/yr vs 12.84%/yr for IQSU. At a 0.11 correlation, their price movements are largely independent. MMIT charges 0.31%/yr vs 0.09%/yr for IQSU.

Performance

MMIT vs. IQSU - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IQ MacKay Municipal Intermediate ETF (MMIT) and IQ Candriam ESG U.S. Equity ETF (IQSU). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MMIT achieves a 1.40% return, which is significantly lower than IQSU's 13.06% return.

MMIT

• 1D: -0.04%
• 1M: 0.50%
• YTD: 1.40%
• 6M: 1.79%
• 1Y: 6.45%
• 3Y*: 3.85%
• 5Y*: 1.11%
• 10Y*: —

IQSU

• 1D: -0.46%
• 1M: 6.63%
• YTD: 13.06%
• 6M: 13.30%
• 1Y: 29.34%
• 3Y*: 19.64%
• 5Y*: 12.84%
• 10Y*: —

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

MMIT vs. IQSU - Yearly Performance Comparison

	2026 (YTD)	2025	2024	2023	2022	2021	2020	2019
MMIT IQ MacKay Municipal Intermediate ETF	1.40%	5.03%	1.46%	5.42%	-7.40%	1.55%	6.17%	-0.34%
IQSU IQ Candriam ESG U.S. Equity ETF	13.06%	14.44%	16.64%	32.96%	-22.10%	30.53%	28.24%	1.24%

Correlation

The correlation between MMIT and IQSU is 0.16, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	0.16
Correlation (3Y) Calculated over the trailing 3-year period	0.19
Correlation (5Y) Calculated over the trailing 5-year period	0.13
Correlation (All Time) Calculated using the full available price history since Dec 18, 2019	0.11

MMIT vs. IQSU - Sectors Allocation Comparison

Sectors	MMIT	IQSU
Basic Materials	-	2.7%
Communication Services	-	15.0%
Consumer Cyclical	-	14.8%
Consumer Defensive	-	3.5%
Energy	-	1.3%
Healthcare	-	6.2%
Industrials	-	6.8%
Real Estate	-	2.8%
Technology	-	34.0%
Utilities	-	1.2%
Financial Services	-1.1%	11.7%

Return for Risk

MMIT vs. IQSU — Risk / Return Rank

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

MMIT

MMIT Risk / Return Rank: 70
MMIT Sharpe Ratio Rank: 79
MMIT Sortino Ratio Rank: 84
MMIT Omega Ratio Rank: 86
MMIT Calmar Ratio Rank: 51
MMIT Martin Ratio Rank: 51

IQSU

IQSU Risk / Return Rank: 61
IQSU Sharpe Ratio Rank: 64
IQSU Sortino Ratio Rank: 62
IQSU Omega Ratio Rank: 64
IQSU Calmar Ratio Rank: 54
IQSU Martin Ratio Rank: 61

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.

MMIT vs. IQSU - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ MacKay Municipal Intermediate ETF (MMIT) and IQ Candriam ESG U.S. Equity ETF (IQSU). 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.

	MMIT	IQSU	Difference
Sharpe ratio: Return per unit of total volatility	2.56	2.13	+0.43
Sortino ratio: Return per unit of downside risk	3.79	2.91	+0.88
Omega ratio: Gain probability vs. loss probability	1.53	1.39	+0.15
Calmar ratio: Return relative to maximum drawdown	2.50	2.64	-0.13
Martin ratio: Return relative to average drawdown	8.50	10.74	-2.24
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

MMIT vs. IQSU - Sharpe Ratio Comparison

The current MMIT Sharpe Ratio is 2.56, which is comparable to the IQSU Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of MMIT and IQSU, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	MMIT	IQSU	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.56	2.13	+0.43
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	0.72	-0.41
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	0.79	-0.16

Drawdowns

MMIT vs. IQSU - Drawdown Comparison

The maximum MMIT drawdown since its inception was -12.28%, smaller than the maximum IQSU drawdown of -31.29%. Use the drawdown chart below to compare losses from any high point for MMIT and IQSU.

Drawdown Indicators

	MMIT	IQSU	Difference
Max Drawdown Largest peak-to-trough decline	-12.28%	-31.29%	+19.01%
Max Drawdown (1Y) Largest decline over 1 year	-2.59%	-11.18%	+8.59%
Max Drawdown (3Y) Largest decline over 3 years	-3.96%	-20.96%	+17.00%
Max Drawdown (5Y) Largest decline over 5 years	-12.28%	-26.76%	+14.48%
Current Drawdown Current decline from peak	-0.77%	-0.48%	-0.29%
Average Drawdown Average peak-to-trough decline	-2.27%	-5.99%	+3.72%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.76%	2.74%	-1.98%

Volatility

MMIT vs. IQSU - Volatility Comparison

The current volatility for IQ MacKay Municipal Intermediate ETF (MMIT) is 0.77%, while IQ Candriam ESG U.S. Equity ETF (IQSU) has a volatility of 3.64%. This indicates that MMIT experiences smaller price fluctuations and is considered to be less risky than IQSU based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MMIT	IQSU	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.77%	3.64%	-2.87%
Volatility (6M) Calculated over the trailing 6-month period	1.66%	9.83%	-8.17%
Volatility (1Y) Calculated over the trailing 1-year period	2.53%	13.85%	-11.32%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.54%	17.88%	-14.34%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.30%	20.68%	-16.38%

MMIT vs. IQSU - Expense Ratio Comparison

MMIT has a 0.31% expense ratio, which is higher than IQSU's 0.09% expense ratio.

Dividends

MMIT vs. IQSU - Dividend Comparison

MMIT's dividend yield for the trailing twelve months is around 3.57%, more than IQSU's 0.97% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
IQSU IQ Candriam ESG U.S. Equity ETF	0.97%	1.09%	1.12%	1.15%	1.47%	1.07%	0.98%	0.00%	0.00%	0.00%
MMIT IQ MacKay Municipal Intermediate ETF	3.57%	3.54%	3.76%	3.46%	2.30%	1.81%	2.59%	4.14%	2.46%	0.35%

Frequently Asked Questions

Can I hold both MMIT and IQSU in my portfolio?

MMIT and IQSU have a correlation of 0.16, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MMIT or IQSU?

IQSU has higher volatility (3.64%) compared to MMIT (0.77%). In terms of maximum drawdown, MMIT dropped -12.28% vs IQSU's -31.29%.

Which ETF is better, MMIT or IQSU?

On 5-year performance, IQSU leads with 12.84% vs 1.11% for MMIT. On fees, IQSU is cheaper at 0.09% per year. On volatility, MMIT has been the lower-risk option at 0.77%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MMIT or IQSU?

Over the 5-year period, IQSU has performed better with a 12.84% return vs 1.11%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MMIT or IQSU?

IQSU is cheaper with a 0.09% expense ratio, compared with 0.31% for MMIT.

Which ETF pays a higher dividend yield, MMIT or IQSU?

MMIT has the higher dividend yield at 3.57%, compared with 0.97% for IQSU.

What is the main difference between MMIT and IQSU?

MMIT is categorized as Municipal Bonds, while IQSU is Large Cap Growth Equities. Their fees differ too: 0.31% for MMIT and 0.09% for IQSU.

Which has better risk-adjusted returns?

MMIT currently has the higher Sharpe Ratio (2.56 vs 2.13), 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.