MMMA vs. INTM

Last updated Aug 2, 2026

MMMA (NYLI MacKay Muni Allocation ETF) and INTM (Invesco Intermediate Municipal ETF) are both Municipal Bonds funds. Both are actively managed. Their 0.40 correlation means their historical movements had little consistent relationship. Both charge a 0.35% expense ratio.

Performance

MMMA vs. INTM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NYLI MacKay Muni Allocation ETF (MMMA) and Invesco Intermediate Municipal ETF (INTM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MMMA achieves a 2.42% return, which is significantly higher than INTM's 1.34% return.

MMMA

• 1D: -0.10%
• 1M: -1.54%
• 6M: 1.05%
• YTD: 2.42%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: —

INTM

• 1D: 0.08%
• 1M: -1.53%
• 6M: 0.48%
• YTD: 1.34%
• 1Y: 5.82%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 6.00%

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

Liquidity Comparison

Position	Avg. Volume Value (2W)	Avg. Volume Value (1M)	Avg. Volume Value (3M)
INTM Invesco Intermediate Municipal ETF	$28.16K	$23.38K	$38.15K
MMMA NYLI MacKay Muni Allocation ETF	$111.36K	$97.19K	$48.83K

MMMA vs. INTM - Yearly Performance Comparison

	2026 (YTD)	2025
MMMA NYLI MacKay Muni Allocation ETF	2.42%	0.35%
INTM Invesco Intermediate Municipal ETF	1.34%	0.49%

Correlation

The correlation between MMMA and INTM is 0.40, which is low. Their historical price movements had little consistent relationship.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 16, 2025	0.40

Return for Risk

MMMA vs. INTM — Risk / Return Rank

Compare historical risk-adjusted metric ranks over the past 12 months.

MMMA

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

INTM

INTM Risk / Return Rank: 79
INTM Sharpe Ratio Rank: 91
INTM Sortino Ratio Rank: 90
INTM Omega Ratio Rank: 94
INTM Calmar Ratio Rank: 64
INTM Martin Ratio Rank: 59

The rank (0–100) uses a weighted average of the Sharpe, Sortino, Omega, Calmar, and Martin percentile ranks for the trailing 12 months. Higher means stronger historical risk-adjusted performance within the peer group.

MMMA vs. INTM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NYLI MacKay Muni Allocation ETF (MMMA) and Invesco Intermediate Municipal ETF (INTM). 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	INTM	Difference
Sharpe ratio: Return per unit of total volatility	—	2.32	—
Sortino ratio: Return per unit of downside risk	—	3.16	—
Omega ratio: Gain probability vs. loss probability	—	1.51	—
Calmar ratio: Return relative to maximum drawdown	—	2.26	—
Martin ratio: Return relative to average drawdown	—	7.12	—

Drawdowns

MMMA vs. INTM - Drawdown Comparison

The maximum MMMA drawdown since its inception was -2.79%, which is greater than INTM's maximum drawdown of -2.65%. Use the drawdown chart below to compare losses from any high point for MMMA and INTM.

Drawdown Indicators

	MMMA	INTM	Difference
Max Drawdown Largest peak-to-trough decline	-2.79%	-2.65%	-0.14%
Max Drawdown (1Y) Largest decline over 1 year	—	-2.65%	—
Current Drawdown Current decline from peak	-1.65%	-1.64%	-0.01%
Average Drawdown Average peak-to-trough decline	-0.60%	-0.49%	-0.11%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.84%	—

Volatility

Volatility by Period

	MMMA	INTM	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.76%	—
Volatility (6M) Calculated over the trailing 6-month period	—	2.05%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.04%	2.58%	+1.46%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.04%	2.55%	+1.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.04%	2.55%	+1.49%

MMMA vs. INTM - Expense Ratio Comparison

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

Dividends

MMMA vs. INTM - Dividend Comparison

MMMA's dividend yield for the trailing twelve months is around 2.69%, less than INTM's 3.26% yield.

Position	TTM	2025
INTM Invesco Intermediate Municipal ETF	3.26%	1.15%
MMMA NYLI MacKay Muni Allocation ETF	2.69%	0.17%

Frequently Asked Questions

Can I hold both MMMA and INTM in my portfolio?

MMMA and INTM have a correlation of 0.40, 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 INTM?

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 INTM?

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

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

INTM has the higher dividend yield at 3.26%, compared with 2.69% for MMMA.

What is the main difference between MMMA and INTM?

They also come from different issuers: NYLI and Invesco.