MMMA vs. HYMB

Last updated Jun 7, 2026

MMMA (NYLI MacKay Muni Allocation ETF) and HYMB (SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF) are both Municipal Bonds funds. MMMA is actively managed, while HYMB is passively managed. A 0.71 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.

Performance

MMMA vs. HYMB - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NYLI MacKay Muni Allocation ETF (MMMA) and SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MMMA achieves a 3.03% return, which is significantly higher than HYMB's 2.87% return.

MMMA

• 1D: -0.27%
• 1M: 0.50%
• YTD: 3.03%
• 6M: —
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

HYMB

• 1D: -0.20%
• 1M: 0.62%
• YTD: 2.87%
• 6M: 3.06%
• 1Y: 7.70%
• 3Y*: 5.06%
• 5Y*: 0.42%
• 10Y*: 2.44%

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

MMMA vs. HYMB - Yearly Performance Comparison

	2026 (YTD)	2025
MMMA NYLI MacKay Muni Allocation ETF	3.03%	0.33%
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF	2.87%	-0.10%

Correlation

The correlation between MMMA and HYMB is 0.71, 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 17, 2025	0.71

Return for Risk

MMMA vs. HYMB — Risk / Return Rank

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

HYMB

HYMB Risk / Return Rank: 56
HYMB Sharpe Ratio Rank: 56
HYMB Sortino Ratio Rank: 57
HYMB Omega Ratio Rank: 63
HYMB Calmar Ratio Rank: 50
HYMB Martin Ratio Rank: 52

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.

MMMA vs. HYMB - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NYLI MacKay Muni Allocation ETF (MMMA) and SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF (HYMB). 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.

Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.

Sharpe Ratios by Period

	MMMA	HYMB	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	1.83	—
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	—	0.06	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	—	0.22	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.79	0.45	+1.34

Drawdowns

MMMA vs. HYMB - Drawdown Comparison

The maximum MMMA drawdown since its inception was -2.79%, smaller than the maximum HYMB drawdown of -29.57%. Use the drawdown chart below to compare losses from any high point for MMMA and HYMB.

Drawdown Indicators

	MMMA	HYMB	Difference
Max Drawdown Largest peak-to-trough decline	-2.79%	-29.57%	+26.78%
Max Drawdown (1Y) Largest decline over 1 year	—	-3.11%	—
Max Drawdown (3Y) Largest decline over 3 years	—	-7.44%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-20.15%	—
Max Drawdown (10Y) Largest decline over 10 years	—	-29.57%	—
Current Drawdown Current decline from peak	-0.27%	-0.20%	-0.07%
Average Drawdown Average peak-to-trough decline	-0.60%	-3.80%	+3.20%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.88%	—

Volatility

Volatility by Period

	MMMA	HYMB	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	1.34%	—
Volatility (6M) Calculated over the trailing 6-month period	—	3.15%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.15%	4.06%	+0.09%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.15%	6.66%	-2.51%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.15%	11.35%	-7.20%

MMMA vs. HYMB - Expense Ratio Comparison

Both MMMA and HYMB have an expense ratio of 0.35%.

Dividends

MMMA vs. HYMB - Dividend Comparison

MMMA's dividend yield for the trailing twelve months is around 1.96%, less than HYMB's 4.54% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015
HYMB SPDR Nuveen Bloomberg Barclays High Yield Municipal Bond ETF	4.54%	4.55%	4.29%	4.07%	3.77%	3.19%	3.55%	3.95%	4.03%	3.78%	4.08%	4.54%
MMMA NYLI MacKay Muni Allocation ETF	1.96%	0.17%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MMMA and HYMB in my portfolio?

MMMA and HYMB have a correlation of 0.71, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which ETF is better, MMMA or HYMB?

Both ETFs have the same 0.35% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MMMA or HYMB?

MMMA and HYMB have the same expense ratio: 0.35% per year.

Which ETF pays a higher dividend yield, MMMA or HYMB?

HYMB has the higher dividend yield at 4.54%, compared with 1.96% for MMMA.

What is the main difference between MMMA and HYMB?

They also come from different issuers: NYLI and State Street.