MMIT vs. IVEP

Last updated Jun 24, 2026

MMIT (IQ MacKay Municipal Intermediate ETF) and IVEP (Dan IVES Wedbush AI Power & Infrastructure ETF) are both exchange-traded funds - MMIT is a Municipal Bonds fund actively managed by New York Life, while IVEP is a Industrials Equities fund tracking the Solactive Wedbush AI Power & Infrastructure Index. MMIT is actively managed, while IVEP is passively managed. At a 0.33 correlation, their price movements are largely independent. MMIT charges 0.31%/yr vs 0.75%/yr for IVEP.

Performance

MMIT vs. IVEP - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in IQ MacKay Municipal Intermediate ETF (MMIT) and Dan IVES Wedbush AI Power & Infrastructure ETF (IVEP). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MMIT

• 1D: 0.04%
• 1M: 1.25%
• YTD: 1.65%
• 6M: 1.77%
• 1Y: 6.09%
• 3Y*: 3.69%
• 5Y*: 1.21%
• 10Y*: —

IVEP

• 1D: -4.10%
• 1M: -1.11%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MMIT vs. IVEP - Yearly Performance Comparison

	2026 (YTD)
MMIT IQ MacKay Municipal Intermediate ETF	1.30%
IVEP Dan IVES Wedbush AI Power & Infrastructure ETF	7.06%

Correlation

The correlation between MMIT and IVEP is 0.33, which is low. Their price movements are largely independent, making them effective diversification partners.

	Correlation
Correlation (All Time) Calculated using the full available price history since Apr 8, 2026	0.33

Return for Risk

MMIT vs. IVEP — Risk / Return Rank

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

MMIT

MMIT Risk / Return Rank: 72
MMIT Sharpe Ratio Rank: 82
MMIT Sortino Ratio Rank: 87
MMIT Omega Ratio Rank: 88
MMIT Calmar Ratio Rank: 52
MMIT Martin Ratio Rank: 50

IVEP

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.

MMIT vs. IVEP - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ MacKay Municipal Intermediate ETF (MMIT) and Dan IVES Wedbush AI Power & Infrastructure ETF (IVEP). 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.

	MMIT	IVEP	Difference
Sharpe ratio: Return per unit of total volatility	2.43	—	—
Sortino ratio: Return per unit of downside risk	3.59	—	—
Omega ratio: Gain probability vs. loss probability	1.50	—	—
Calmar ratio: Return relative to maximum drawdown	2.36	—	—
Martin ratio: Return relative to average drawdown	7.88	—	—

Drawdowns

MMIT vs. IVEP - Drawdown Comparison

The maximum MMIT drawdown since its inception was -12.28%, which is greater than IVEP's maximum drawdown of -10.90%. Use the drawdown chart below to compare losses from any high point for MMIT and IVEP.

Drawdown Indicators

	MMIT	IVEP	Difference
Max Drawdown Largest peak-to-trough decline	-12.28%	-10.90%	-1.38%
Max Drawdown (1Y) Largest decline over 1 year	-2.59%	—	—
Max Drawdown (3Y) Largest decline over 3 years	-3.96%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-12.28%	—	—
Current Drawdown Current decline from peak	-0.52%	-4.10%	+3.58%
Average Drawdown Average peak-to-trough decline	-2.26%	-2.78%	+0.52%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.77%	—	—

Volatility

Volatility by Period

	MMIT	IVEP	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.68%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.68%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.52%	29.34%	-26.82%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.55%	29.34%	-25.79%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.29%	29.34%	-25.05%

MMIT vs. IVEP - Expense Ratio Comparison

MMIT has a 0.31% expense ratio, which is lower than IVEP's 0.75% expense ratio.

Dividends

MMIT vs. IVEP - Dividend Comparison

MMIT's dividend yield for the trailing twelve months is around 3.56%, while IVEP has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
IVEP Dan IVES Wedbush AI Power & Infrastructure ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%
MMIT IQ MacKay Municipal Intermediate ETF	3.56%	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 IVEP in my portfolio?

MMIT and IVEP have a correlation of 0.33, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MMIT or IVEP?

On fees, MMIT is cheaper at 0.31% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MMIT or IVEP?

MMIT is cheaper with a 0.31% expense ratio, compared with 0.75% for IVEP.

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

MMIT has the higher dividend yield at 3.56%, compared with 0.00% for IVEP.

What is the main difference between MMIT and IVEP?

MMIT is categorized as Municipal Bonds, while IVEP is Industrials Equities. They also come from different issuers: New York Life and Wedbush. Their fees differ too: 0.31% for MMIT and 0.75% for IVEP.