MMMA vs. MMSD

Last updated Jun 7, 2026

MMMA (NYLI MacKay Muni Allocation ETF) and MMSD (NYLI MacKay Muni Short Duration ETF) are both Municipal Bonds funds from NYLI. Both are actively managed. Their correlation of 0.80 suggests significant overlap in exposure. MMMA charges 0.35%/yr vs 0.25%/yr for MMSD.

Performance

MMMA vs. MMSD - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NYLI MacKay Muni Allocation ETF (MMMA) and NYLI MacKay Muni Short Duration ETF (MMSD). 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 MMSD's 1.22% return.

MMMA

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

MMSD

• 1D: -0.12%
• 1M: 0.18%
• YTD: 1.22%
• 6M: 1.55%
• 1Y: 4.66%
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MMMA vs. MMSD - Yearly Performance Comparison

	2026 (YTD)	2025
MMMA NYLI MacKay Muni Allocation ETF	3.03%	0.33%
MMSD NYLI MacKay Muni Short Duration ETF	1.22%	0.19%

Correlation

The correlation between MMMA and MMSD is 0.80, indicating a strong positive relationship between their price movements. Combining them offers limited diversification - they tend to fall together during downturns.

	Correlation
Correlation (All Time) Calculated using the full available price history since Dec 17, 2025	0.80

Return for Risk

MMMA vs. MMSD — Risk / Return Rank

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

MMSD

MMSD Risk / Return Rank: 83
MMSD Sharpe Ratio Rank: 85
MMSD Sortino Ratio Rank: 92
MMSD Omega Ratio Rank: 92
MMSD Calmar Ratio Rank: 72
MMSD Martin Ratio Rank: 74

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. MMSD - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NYLI MacKay Muni Allocation ETF (MMMA) and NYLI MacKay Muni Short Duration ETF (MMSD). 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	MMSD	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	—	2.63	—
Sharpe Ratio (All Time) Calculated using the full available price history	1.79	2.59	-0.80

Drawdowns

MMMA vs. MMSD - Drawdown Comparison

The maximum MMMA drawdown since its inception was -2.79%, which is greater than MMSD's maximum drawdown of -1.35%. Use the drawdown chart below to compare losses from any high point for MMMA and MMSD.

Drawdown Indicators

	MMMA	MMSD	Difference
Max Drawdown Largest peak-to-trough decline	-2.79%	-1.35%	-1.44%
Max Drawdown (1Y) Largest decline over 1 year	—	-1.35%	—
Current Drawdown Current decline from peak	-0.27%	-0.22%	-0.05%
Average Drawdown Average peak-to-trough decline	-0.60%	-0.22%	-0.38%
Ulcer Index Depth and duration of drawdowns from previous peaks	—	0.35%	—

Volatility

Volatility by Period

	MMMA	MMSD	Difference
Volatility (1M) Calculated over the trailing 1-month period	—	0.69%	—
Volatility (6M) Calculated over the trailing 6-month period	—	1.43%	—
Volatility (1Y) Calculated over the trailing 1-year period	4.15%	1.73%	+2.42%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.15%	1.76%	+2.39%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.15%	1.76%	+2.39%

MMMA vs. MMSD - Expense Ratio Comparison

MMMA has a 0.35% expense ratio, which is higher than MMSD's 0.25% expense ratio.

Dividends

MMMA vs. MMSD - Dividend Comparison

MMMA's dividend yield for the trailing twelve months is around 1.96%, less than MMSD's 3.57% yield.

Position	TTM	2025
MMMA NYLI MacKay Muni Allocation ETF	1.96%	0.17%
MMSD NYLI MacKay Muni Short Duration ETF	3.57%	2.30%

Frequently Asked Questions

Can I hold both MMMA and MMSD in my portfolio?

MMMA and MMSD have a correlation of 0.80, 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 MMSD?

On fees, MMSD is cheaper at 0.25% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MMMA or MMSD?

MMSD is cheaper with a 0.25% expense ratio, compared with 0.35% for MMMA.

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

MMSD has the higher dividend yield at 3.57%, compared with 1.96% for MMMA.

What is the main difference between MMMA and MMSD?

Their fees differ too: 0.35% for MMMA and 0.25% for MMSD.