MMIT vs. QCON

Last updated Jun 4, 2026

MMIT (IQ MacKay Municipal Intermediate ETF) and QCON (American Century Quality Convertible Securities ETF) are both exchange-traded funds - MMIT is a Municipal Bonds fund actively managed by New York Life, while QCON is a Corporate Bonds fund actively managed by American Century. Both are actively managed. MMIT charges 0.31%/yr vs 0.32%/yr for QCON.

Performance

MMIT vs. QCON - Performance Comparison

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

Returns By Period

MMIT

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

QCON

• 1D: 0.00%
• 1M: 0.00%
• YTD: —
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MMIT vs. QCON - Yearly Performance Comparison

	2026 (YTD)
MMIT IQ MacKay Municipal Intermediate ETF	0.11%
QCON American Century Quality Convertible Securities ETF	0.00%

MMIT vs. QCON - Sectors Allocation Comparison

Sectors	MMIT	QCON
Basic Materials	-	-
Communication Services	-	-
Consumer Cyclical	-	-
Consumer Defensive	-	-
Energy	-	-
Healthcare	-	-
Industrials	-	1.0%
Real Estate	-	-
Technology	-	-
Utilities	-	1.5%
Financial Services	-1.1%	7.9%

Return for Risk

MMIT vs. QCON — 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

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. QCON - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for IQ MacKay Municipal Intermediate ETF (MMIT) and American Century Quality Convertible Securities ETF (QCON). 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	QCON	Difference
Sharpe ratio: Return per unit of total volatility	2.56	—	—
Sortino ratio: Return per unit of downside risk	3.79	—	—
Omega ratio: Gain probability vs. loss probability	1.53	—	—
Calmar ratio: Return relative to maximum drawdown	2.50	—	—
Martin ratio: Return relative to average drawdown	8.50	—	—
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

Sharpe Ratios by Period

	MMIT	QCON	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	2.56	—	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.32	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.63	—	—

Drawdowns

MMIT vs. QCON - Drawdown Comparison

The maximum MMIT drawdown since its inception was -12.28%, which is greater than QCON's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for MMIT and QCON.

Drawdown Indicators

	MMIT	QCON	Difference
Max Drawdown Largest peak-to-trough decline	-12.28%	0.00%	-12.28%
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	-0.77%	0.00%	-0.77%
Average Drawdown Average peak-to-trough decline	-2.27%	0.00%	-2.27%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.76%	—	—

Volatility

Volatility by Period

	MMIT	QCON	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.77%	—	—
Volatility (6M) Calculated over the trailing 6-month period	1.66%	—	—
Volatility (1Y) Calculated over the trailing 1-year period	2.53%	0.00%	+2.53%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	3.54%	0.00%	+3.54%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.30%	0.00%	+4.30%

MMIT vs. QCON - Expense Ratio Comparison

MMIT has a 0.31% expense ratio, which is lower than QCON's 0.32% expense ratio.

Dividends

MMIT vs. QCON - Dividend Comparison

MMIT's dividend yield for the trailing twelve months is around 3.57%, while QCON has not paid dividends to shareholders.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
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%
QCON American Century Quality Convertible Securities ETF	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Which ETF is better, MMIT or QCON?

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 QCON?

MMIT is cheaper with a 0.31% expense ratio, compared with 0.32% for QCON.

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

MMIT has the higher dividend yield at 3.57%, compared with 0.00% for QCON.

What is the main difference between MMIT and QCON?

MMIT is categorized as Municipal Bonds, while QCON is Corporate Bonds. They also come from different issuers: New York Life and American Century. Their fees differ too: 0.31% for MMIT and 0.32% for QCON.