MMMA vs. THYM

Last updated Jun 7, 2026

MMMA (NYLI MacKay Muni Allocation ETF) and THYM (T. Rowe Price High Income Municipal ETF) are both exchange-traded funds - MMMA is a Municipal Bonds fund actively managed by NYLI, while THYM is a High Yield Muni fund actively managed by T. Rowe Price. Both are actively managed. A 0.78 correlation means they provide meaningful diversification when combined. MMMA charges 0.35%/yr vs 0.32%/yr for THYM.

Performance

MMMA vs. THYM - Performance Comparison

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

Returns By Period

The year-to-date returns for both investments are quite close, with MMMA having a 3.03% return and THYM slightly higher at 3.16%.

MMMA

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

THYM

• 1D: -0.52%
• 1M: 0.50%
• YTD: 3.16%
• 6M: 3.44%
• 1Y: —
• 3Y*: —
• 5Y*: —
• 10Y*: —

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

MMMA vs. THYM - Yearly Performance Comparison

	2026 (YTD)	2025
MMMA NYLI MacKay Muni Allocation ETF	3.03%	0.33%
THYM T. Rowe Price High Income Municipal ETF	3.16%	0.02%

Correlation

The correlation between MMMA and THYM is 0.78, 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 17, 2025	0.78

Return for Risk

MMMA vs. THYM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NYLI MacKay Muni Allocation ETF (MMMA) and T. Rowe Price High Income Municipal ETF (THYM). 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	THYM	Difference
Sharpe Ratio (All Time) Calculated using the full available price history	1.79	1.50	+0.29

Drawdowns

MMMA vs. THYM - Drawdown Comparison

The maximum MMMA drawdown since its inception was -2.79%, roughly equal to the maximum THYM drawdown of -2.93%. Use the drawdown chart below to compare losses from any high point for MMMA and THYM.

Drawdown Indicators

	MMMA	THYM	Difference
Max Drawdown Largest peak-to-trough decline	-2.79%	-2.93%	+0.14%
Current Drawdown Current decline from peak	-0.27%	-0.52%	+0.25%
Average Drawdown Average peak-to-trough decline	-0.60%	-0.49%	-0.11%

Volatility

Volatility by Period

	MMMA	THYM	Difference
Volatility (1Y) Calculated over the trailing 1-year period	4.15%	4.40%	-0.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	4.15%	4.40%	-0.25%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	4.15%	4.40%	-0.25%

MMMA vs. THYM - Expense Ratio Comparison

MMMA has a 0.35% expense ratio, which is higher than THYM's 0.32% expense ratio.

Dividends

MMMA vs. THYM - Dividend Comparison

MMMA's dividend yield for the trailing twelve months is around 1.96%, less than THYM's 2.19% yield.

Position	TTM	2025
MMMA NYLI MacKay Muni Allocation ETF	1.96%	0.17%
THYM T. Rowe Price High Income Municipal ETF	2.19%	0.37%

Frequently Asked Questions

Can I hold both MMMA and THYM in my portfolio?

MMMA and THYM have a correlation of 0.78, 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 THYM?

On fees, THYM is cheaper at 0.32% per year. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF is cheaper, MMMA or THYM?

THYM is cheaper with a 0.32% expense ratio, compared with 0.35% for MMMA.

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

THYM has the higher dividend yield at 2.19%, compared with 1.96% for MMMA.

What is the main difference between MMMA and THYM?

MMMA is categorized as Municipal Bonds, while THYM is High Yield Muni. They also come from different issuers: NYLI and T. Rowe Price. Their fees differ too: 0.35% for MMMA and 0.32% for THYM.