MMMA vs. MUNI
MMMA (NYLI MacKay Muni Allocation ETF) and MUNI (PIMCO Intermediate Municipal Bond Active ETF) are both Municipal Bonds funds. Both are actively managed. A 0.77 correlation means they provide meaningful diversification when combined. Both charge a 0.35% expense ratio.
Performance
MMMA vs. MUNI - Performance Comparison
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Returns By Period
In the year-to-date period, MMMA achieves a 3.18% return, which is significantly higher than MUNI's 1.15% return.
MMMA
- 1D
- -0.12%
- 1M
- -0.17%
- 6M
- 2.28%
- YTD
- 3.18%
- 1Y
- —
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
MUNI
- 1D
- -0.17%
- 1M
- -0.31%
- 6M
- 0.49%
- YTD
- 1.15%
- 1Y
- 5.69%
- 3Y*
- 3.66%
- 5Y*
- 1.12%
- 10Y*
- 2.06%
MMMA vs. MUNI - Yearly Performance Comparison
| 2026 (YTD) | 2025 | |
|---|---|---|
MMMA NYLI MacKay Muni Allocation ETF | 3.18% | 0.35% |
MUNI PIMCO Intermediate Municipal Bond Active ETF | 1.15% | 0.29% |
Correlation
The correlation between MMMA and MUNI is 0.77, 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 | 0.77 |
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Return for Risk
MMMA vs. MUNI — Risk / Return Rank
MMMA
Risk / return metrics aren't available yet — we need at least 12 months of trading data to calculate them.
MUNI
MMMA vs. MUNI - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for NYLI MacKay Muni Allocation ETF (MMMA) and PIMCO Intermediate Municipal Bond Active ETF (MUNI). 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 | MUNI | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | — | — | |
| Sortino ratioReturn per unit of downside risk | — | — | |
| Omega ratioGain probability vs. loss probability | — | 1.56 | — |
| Calmar ratioReturn relative to maximum drawdown | — | 2.49 | — |
| Martin ratioReturn relative to average drawdown | — | 7.98 | — |
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Drawdowns
MMMA vs. MUNI - Drawdown Comparison
The maximum MMMA drawdown since its inception was -2.79%, smaller than the maximum MUNI drawdown of -11.15%. Use the drawdown chart below to compare losses from any high point for MMMA and MUNI.
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Drawdown Indicators
| MMMA | MUNI | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -2.79% | -11.15% | +8.36% |
Max Drawdown (1Y)Largest decline over 1 year | — | -2.29% | — |
Max Drawdown (3Y)Largest decline over 3 years | — | -4.09% | — |
Max Drawdown (5Y)Largest decline over 5 years | — | -11.15% | — |
Max Drawdown (10Y)Largest decline over 10 years | — | -11.15% | — |
Current DrawdownCurrent decline from peak | -0.93% | -0.88% | -0.05% |
Average DrawdownAverage peak-to-trough decline | -0.53% | -1.72% | +1.19% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | — | 0.72% | — |
Volatility
MMMA vs. MUNI - Volatility Comparison
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Volatility by Period
| MMMA | MUNI | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | — | 0.50% | — |
Volatility (6M)Calculated over the trailing 6-month period | — | 1.67% | — |
Volatility (1Y)Calculated over the trailing 1-year period | 3.92% | 2.24% | +1.68% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.92% | 3.32% | +0.60% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.92% | 3.84% | +0.08% |
MMMA vs. MUNI - Expense Ratio Comparison
Both MMMA and MUNI have an expense ratio of 0.35%.
Dividends
MMMA vs. MUNI - Dividend Comparison
MMMA's dividend yield for the trailing twelve months is around 2.31%, less than MUNI's 3.32% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
MMMA NYLI MacKay Muni Allocation ETF | 2.31% | 0.17% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
MUNI PIMCO Intermediate Municipal Bond Active ETF | 3.32% | 3.26% | 3.50% | 3.09% | 2.13% | 1.62% | 1.92% | 2.44% | 2.38% | 2.37% | 2.37% | 2.20% |
Frequently Asked Questions
MMMA and MUNI have a correlation of 0.77, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
Both ETFs have the same 0.35% expense ratio. The better choice depends on whether you care most about return, fees, risk, or income.
MMMA and MUNI have the same expense ratio: 0.35% per year.
MUNI has the higher dividend yield at 3.32%, compared with 2.31% for MMMA.
They also come from different issuers: NYLI and PIMCO.
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