MMMA vs. IBMM

Last updated Jun 7, 2026

MMMA (NYLI MacKay Muni Allocation ETF) and IBMM (iShares iBonds Dec 2024 Term Muni Bond ETF) are both Municipal Bonds funds. MMMA is actively managed, while IBMM is passively managed. MMMA charges 0.35%/yr vs 0.18%/yr for IBMM.

Performance

MMMA vs. IBMM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NYLI MacKay Muni Allocation ETF (MMMA) and iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

MMMA

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

IBMM

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

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

MMMA vs. IBMM - Yearly Performance Comparison

	2026 (YTD)
MMMA NYLI MacKay Muni Allocation ETF	1.20%
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%

Return for Risk

MMMA vs. IBMM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NYLI MacKay Muni Allocation ETF (MMMA) and iShares iBonds Dec 2024 Term Muni Bond ETF (IBMM). 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	IBMM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.79	—	—

Drawdowns

MMMA vs. IBMM - Drawdown Comparison

The maximum MMMA drawdown since its inception was -2.79%, which is greater than IBMM's maximum drawdown of 0.00%. Use the drawdown chart below to compare losses from any high point for MMMA and IBMM.

Drawdown Indicators

	MMMA	IBMM	Difference
Max Drawdown Largest peak-to-trough decline	-2.79%	0.00%	-2.79%
Current Drawdown Current decline from peak	-0.27%	0.00%	-0.27%
Average Drawdown Average peak-to-trough decline	-0.60%	0.00%	-0.60%

Volatility

Volatility by Period

	MMMA	IBMM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	4.15%	0.00%	+4.15%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.15%	0.00%	+4.15%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.15%	0.00%	+4.15%

MMMA vs. IBMM - Expense Ratio Comparison

MMMA has a 0.35% expense ratio, which is higher than IBMM's 0.18% expense ratio.

Dividends

MMMA vs. IBMM - Dividend Comparison

MMMA's dividend yield for the trailing twelve months is around 1.96%, while IBMM has not paid dividends to shareholders.

Position	TTM	2025
IBMM iShares iBonds Dec 2024 Term Muni Bond ETF	0.00%	0.00%
MMMA NYLI MacKay Muni Allocation ETF	1.96%	0.17%

Frequently Asked Questions

Which ETF is better, MMMA or IBMM?

On fees, IBMM is cheaper at 0.18% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MMMA or IBMM?

IBMM is cheaper with a 0.18% expense ratio, compared with 0.35% for MMMA.

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

MMMA has the higher dividend yield at 1.96%, compared with 0.00% for IBMM.

What is the main difference between MMMA and IBMM?

They also come from different issuers: NYLI and iShares. Their fees differ too: 0.35% for MMMA and 0.18% for IBMM.