MMMA vs. INMU
MMMA (NYLI MacKay Muni Allocation ETF) and INMU (BlackRock Intermediate Muni Income Bond ETF) are both Municipal Bonds funds. Both are actively managed. A 0.67 correlation means they provide meaningful diversification when combined. MMMA charges 0.35%/yr vs 0.30%/yr for INMU.
Performance
MMMA vs. INMU - Performance Comparison
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Returns By Period
In the year-to-date period, MMMA achieves a 3.87% return, which is significantly higher than INMU's 2.19% return.
MMMA
- 1D
- 0.06%
- 1M
- 1.21%
- YTD
- 3.87%
- 6M
- 4.11%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
INMU
- 1D
- -0.04%
- 1M
- 1.15%
- YTD
- 2.19%
- 6M
- 2.32%
- 1Y
- 7.02%
- 3Y*
- 4.71%
- 5Y*
- 1.89%
- 10Y*
- —
MMMA vs. INMU - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MMMA NYLI MacKay Muni Allocation ETF | 3.87% | 0.35% |
INMU BlackRock Intermediate Muni Income Bond ETF | 2.19% | 0.26% |
Correlation
The correlation between MMMA and INMU is 0.67, 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 16, 2025 | 0.67 |
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Return for Risk
MMMA vs. INMU — Risk / Return Rank
MMMA
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
INMU
MMMA vs. INMU - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NYLI MacKay Muni Allocation ETF (MMMA) and BlackRock Intermediate Muni Income Bond ETF (INMU). 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.
| MMMA | INMU | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.64 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.73 | — |
| Martin ratioReturn relative to average drawdown | — | 9.19 | — |
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Drawdowns
MMMA vs. INMU - Drawdown Comparison
The maximum MMMA drawdown since its inception was -2.79%, smaller than the maximum INMU drawdown of -10.67%. Use the drawdown chart below to compare losses from any high point for MMMA and INMU.
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Drawdown Indicators
| MMMA | INMU | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.79% | -10.67% | +7.88% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.58% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.88% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -10.67% | — |
Current DrawdownCurrent decline from peak | 0.00% | -0.21% | +0.21% |
Average DrawdownAverage peak-to-trough decline | -0.54% | -2.78% | +2.24% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.77% | — |
Volatility
MMMA vs. INMU - Volatility Comparison
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Volatility by Period
| MMMA | INMU | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.62% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.91% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 4.00% | 2.47% | +1.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 4.00% | 3.61% | +0.39% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.00% | 3.53% | +0.47% |
MMMA vs. INMU - Expense Ratio Comparison
MMMA has a 0.35% expense ratio, which is higher than INMU's 0.30% expense ratio.
Dividends
MMMA vs. INMU - Dividend Comparison
MMMA's dividend yield for the trailing twelve months is around 1.94%, less than INMU's 3.34% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 |
|---|---|---|---|---|---|---|
INMU BlackRock Intermediate Muni Income Bond ETF | 3.34% | 3.48% | 3.47% | 3.44% | 1.92% | 1.14% |
MMMA NYLI MacKay Muni Allocation ETF | 1.94% | 0.17% | 0.00% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
MMMA and INMU have a correlation of 0.67, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
On fees, INMU is cheaper at 0.30% per year. The better choice depends on whether you care most about return, fees, risk, or income.
INMU is cheaper with a 0.30% expense ratio, compared with 0.35% for MMMA.
INMU has the higher dividend yield at 3.34%, compared with 1.94% for MMMA.
They also come from different issuers: NYLI and BlackRock. Their fees differ too: 0.35% for MMMA and 0.30% for INMU.
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