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MMIT vs. MMIN
Performance
Return for Risk
Drawdowns
Volatility
Dividends

MMIT vs. MMIN

Last updated Jun 4, 2026

MMIT (IQ MacKay Municipal Intermediate ETF) and MMIN (IQ MacKay Municipal Insured ETF) are both Municipal Bonds funds from New York Life. MMIT is actively managed, while MMIN is passively managed. Over the past 5 years, MMIT returned 1.11%/yr vs 0.74%/yr for MMIN. A 0.68 correlation means they provide meaningful diversification when combined. Both charge a 0.31% expense ratio.

Performance

MMIT vs. MMIN - Performance Comparison

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

Loading charts...

Returns By Period

In the year-to-date period, MMIT achieves a 1.40% return, which is significantly lower than MMIN's 2.32% return.

MMIT

1D
-0.04%
1M
0.50%
YTD
1.40%
6M
1.79%
1Y
6.45%
3Y*
3.85%
5Y*
1.11%
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)

MMIT vs. MMIN - Yearly Performance Comparison

2026 (YTD)202520242023202220212020201920182017
MMIT
IQ MacKay Municipal Intermediate ETF		1.40%5.03%1.46%5.42%-7.40%1.55%6.17%7.49%2.41%0.43%
MMIN
IQ MacKay Municipal Insured ETF		2.32%4.65%0.93%7.45%-11.20%1.35%7.47%8.08%1.97%1.20%

Correlation

The correlation between MMIT and MMIN is 0.58, which is moderate. They share some common price drivers but move independently often enough to provide real diversification benefit when combined.

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

0.58

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

0.73

Correlation (5Y)
Calculated over the trailing 5-year period

0.76

Correlation (All Time)
Calculated using the full available price history since Oct 19, 2017

0.68

The correlation between MMIT and MMIN shifts across timeframes, from 0.58 (1 year) to 0.76 (5 years), reflecting how their relationship changes across market environments.

MMIT vs. MMIN - Sectors Allocation Comparison

Sectors
MMIT
MMIN

Basic Materials

-

-

Communication Services

-

-

Consumer Cyclical

-

-

Consumer Defensive

-

-

Energy

-

-

Healthcare

-

-

Industrials

-

-

Real Estate

-

-

Technology

-

-

Utilities

-

-

Financial Services

-1.1%
-0.9%

Basic Materials

MMIT

-

MMIN

-

Communication Services

MMIT

-

MMIN

-

Consumer Cyclical

MMIT

-

MMIN

-

Consumer Defensive

MMIT

-

MMIN

-

Energy

MMIT

-

MMIN

-

Healthcare

MMIT

-

MMIN

-

Industrials

MMIT

-

MMIN

-

Real Estate

MMIT

-

MMIN

-

Technology

MMIT

-

MMIN

-

Utilities

MMIT

-

MMIN

-

Financial Services

MMIT
-1.1%
MMIN
-0.9%

Compare stocks, funds, or ETFs

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

IQ MacKay Municipal Intermediate ETF

IQ MacKay Municipal Insured ETF

Often compared with MMIT:
MMIT vs. HMOPMMIT vs. IEIMMIT vs. IWFGMMIT vs. QAIMMIT vs. HFXIMMIT vs. CALIMMIT vs. MNA
Often compared with MMIN:
MMIN vs. ACTHXMMIN vs. OVMMMIN vs. JMUBMMIN vs. ZTAXMMIN vs. IWFGMMIN vs. LQDMMIN vs. IBMM

Return for Risk

MMIT vs. MMIN — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.
MMIT
MMIT Risk / Return Rank: 7070
Overall Rank
MMIT Sharpe Ratio Rank: 7979
Sharpe Ratio Rank
MMIT Sortino Ratio Rank: 8484
Sortino Ratio Rank
MMIT Omega Ratio Rank: 8686
Omega Ratio Rank
MMIT Calmar Ratio Rank: 5151
Calmar Ratio Rank
MMIT Martin Ratio Rank: 5151
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.

MMIT vs. MMIN - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ MacKay Municipal Intermediate ETF (MMIT) 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.

MMITMMINDifference
Sharpe ratioReturn per unit of total volatility
2.56
2.46

+0.10

Sortino ratioReturn per unit of downside risk
3.79
3.66

+0.13

Omega ratioGain probability vs. loss probability

1.53

1.49

+0.04

Calmar ratioReturn relative to maximum drawdown

2.50

3.25

-0.75

Martin ratioReturn relative to average drawdown

8.50

11.93

-3.43

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. MMIN - Sharpe Ratio Comparison

The current MMIT Sharpe Ratio is 2.56, which is comparable to the MMIN Sharpe Ratio of 2.46. The chart below compares the historical Sharpe Ratios of MMIT 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

MMITMMINDifference

Sharpe Ratio (1Y)

Calculated over the trailing 1-year period

2.56

2.46

+0.10

Sharpe Ratio (5Y)

Calculated over the trailing 5-year period

0.32

0.15

+0.17

Sharpe Ratio (All Time)

Calculated using the full available price history

0.63

0.38

+0.25

Drawdowns

MMIT vs. MMIN - Drawdown Comparison

The maximum MMIT drawdown since its inception was -12.28%, smaller than the maximum MMIN drawdown of -16.87%. Use the drawdown chart below to compare losses from any high point for MMIT and MMIN.

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Drawdown Indicators

MMITMMINDifference

Max Drawdown

Largest peak-to-trough decline

-12.28%

-16.87%

+4.59%

Max Drawdown (1Y)

Largest decline over 1 year

-2.59%

-2.87%

+0.28%

Max Drawdown (3Y)

Largest decline over 3 years

-3.96%

-7.22%

+3.26%

Max Drawdown (5Y)

Largest decline over 5 years

-12.28%

-16.87%

+4.59%

Current Drawdown

Current decline from peak

-0.77%

-0.08%

-0.69%

Average Drawdown

Average peak-to-trough decline

-2.27%

-4.32%

+2.05%

Ulcer Index

Depth and duration of drawdowns from previous peaks

0.76%

0.78%

-0.02%

Volatility

MMIT vs. MMIN - Volatility Comparison

The current volatility for IQ MacKay Municipal Intermediate ETF (MMIT) is 0.77%, while IQ MacKay Municipal Insured ETF (MMIN) has a volatility of 1.16%. This indicates that MMIT experiences smaller price fluctuations and is considered to be less risky 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

MMITMMINDifference

Volatility (1M)

Calculated over the trailing 1-month period

0.77%

1.16%

-0.39%

Volatility (6M)

Calculated over the trailing 6-month period

1.66%

2.49%

-0.83%

Volatility (1Y)

Calculated over the trailing 1-year period

2.53%

3.81%

-1.28%

Volatility (5Y)

Calculated over the trailing 5-year period, annualized

3.54%

5.02%

-1.48%

Volatility (10Y)

Calculated over the trailing 10-year period, annualized

4.30%

6.97%

-2.67%

MMIT vs. MMIN - Expense Ratio Comparison

Both MMIT and MMIN have an expense ratio of 0.31%.

Dividends

MMIT vs. MMIN - Dividend Comparison

MMIT's dividend yield for the trailing twelve months is around 3.57%, less than MMIN's 4.12% yield.

PositionTTM202520242023202220212020201920182017
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%
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

MMIT and MMIN have a correlation of 0.58, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

MMIN has higher volatility (1.16%) compared to MMIT (0.77%). In terms of maximum drawdown, MMIT dropped -12.28% vs MMIN's -16.87%.

On 5-year performance, MMIT leads with 1.11% vs 0.74% for MMIN. Both ETFs have the same 0.31% expense ratio. 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.

Over the 5-year period, MMIT has performed better with a 1.11% return vs 0.74%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

MMIT and MMIN have the same expense ratio: 0.31% per year.

MMIN has the higher dividend yield at 4.12%, compared with 3.57% for MMIT.

MMIT currently has the higher Sharpe Ratio (2.56 vs 2.46), 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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