MMSD vs. COM

Last updated Aug 4, 2026

MMSD (NYLI MacKay Muni Short Duration ETF) and COM (Direxion Auspice Broad Commodity Strategy ETF) are both exchange-traded funds - MMSD is a Municipal Bonds fund actively managed by NYLI, while COM is a Commodities fund tracking the Auspice Broad Commodity ER Index. MMSD is actively managed, while COM is passively managed. Over the past year, MMSD returned 3.02% vs 25.71% for COM. Their -0.11 correlation means they have often moved in opposite directions in the past. MMSD charges 0.25%/yr vs 0.70%/yr for COM.

Performance

MMSD vs. COM - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in NYLI MacKay Muni Short Duration ETF (MMSD) and Direxion Auspice Broad Commodity Strategy ETF (COM). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, MMSD achieves a 1.30% return, which is significantly lower than COM's 15.98% return.

MMSD

• 1D: 0.28%
• 1M: -0.30%
• 6M: 0.52%
• YTD: 1.30%
• 1Y: 3.02%
• 3Y*: —
• 5Y*: —
• 10Y*: —
• ALL TIME*: 4.06%

COM

• 1D: -0.01%
• 1M: 3.62%
• 6M: 12.15%
• YTD: 15.98%
• 1Y: 25.71%
• 3Y*: 8.10%
• 5Y*: 8.38%
• 10Y*: —
• ALL TIME*: 7.03%

*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)
COM Direxion Auspice Broad Commodity Strategy ETF	$1.46M	$1.65M	$5.10M
MMSD NYLI MacKay Muni Short Duration ETF	$356.67K	$303.49K	$338.45K

MMSD vs. COM - Yearly Performance Comparison

	2026 (YTD)	2025
MMSD NYLI MacKay Muni Short Duration ETF	1.30%	3.72%
COM Direxion Auspice Broad Commodity Strategy ETF	15.98%	6.41%

Correlation

The correlation between MMSD and COM is -0.17, meaning they have often moved in opposite directions in the past. This relationship can weaken or reverse as market conditions change.

	Correlation
Correlation (1Y) Focuses on recent behavior, but can change the most.	-0.17
Correlation (All Time) Calculated using the full available price history since May 6, 2025	-0.11

Return for Risk

MMSD vs. COM — Risk / Return Rank

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

MMSD

MMSD Risk / Return Rank: 65
MMSD Sharpe Ratio Rank: 64
MMSD Sortino Ratio Rank: 69
MMSD Omega Ratio Rank: 72
MMSD Calmar Ratio Rank: 58
MMSD Martin Ratio Rank: 63

COM

COM Risk / Return Rank: 88
COM Sharpe Ratio Rank: 93
COM Sortino Ratio Rank: 92
COM Omega Ratio Rank: 93
COM Calmar Ratio Rank: 86
COM Martin Ratio Rank: 78

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.

MMSD vs. COM - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for NYLI MacKay Muni Short Duration ETF (MMSD) and Direxion Auspice Broad Commodity Strategy ETF (COM). 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.

	MMSD	COM	Difference
Sharpe ratio: Return per unit of total volatility	1.66	2.57	-0.90
Sortino ratio: Return per unit of downside risk	2.51	3.50	-0.99
Omega ratio: Gain probability vs. loss probability	1.33	1.49	-0.15
Calmar ratio: Return relative to maximum drawdown	2.25	3.38	-1.13
Martin ratio: Return relative to average drawdown	8.19	10.17	-1.97

MMSD vs. COM - Sharpe Ratio Comparison

The current MMSD Sharpe Ratio is 1.66, which is lower than the COM Sharpe Ratio of 2.57. The chart below compares the historical Sharpe Ratios of MMSD and COM, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Drawdowns

MMSD vs. COM - Drawdown Comparison

The maximum MMSD drawdown since its inception was -1.35%, smaller than the maximum COM drawdown of -15.95%. Use the drawdown chart below to compare losses from any high point for MMSD and COM.

Drawdown Indicators

	MMSD	COM	Difference
Max Drawdown Largest peak-to-trough decline	-1.35%	-15.95%	+14.60%
Max Drawdown (1Y) Largest decline over 1 year	-1.35%	-7.63%	+6.28%
Max Drawdown (3Y) Largest decline over 3 years	—	-8.50%	—
Max Drawdown (5Y) Largest decline over 5 years	—	-14.02%	—
Current Drawdown Current decline from peak	-0.42%	-3.70%	+3.28%
Average Drawdown Average peak-to-trough decline	-0.21%	-6.26%	+6.05%
Ulcer Index Depth and duration of drawdowns from previous peaks	0.37%	2.54%	-2.17%

Volatility

MMSD vs. COM - Volatility Comparison

The current volatility for NYLI MacKay Muni Short Duration ETF (MMSD) is 0.74%, while Direxion Auspice Broad Commodity Strategy ETF (COM) has a volatility of 2.00%. This indicates that MMSD experiences smaller price fluctuations and is considered to be less risky than COM based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	MMSD	COM	Difference
Volatility (1M) Calculated over the trailing 1-month period	0.74%	2.00%	-1.26%
Volatility (6M) Calculated over the trailing 6-month period	1.57%	7.48%	-5.91%
Volatility (1Y) Calculated over the trailing 1-year period	1.83%	10.08%	-8.25%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	1.80%	9.44%	-7.64%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	1.80%	9.73%	-7.93%

MMSD vs. COM - Expense Ratio Comparison

MMSD has a 0.25% expense ratio, which is lower than COM's 0.70% expense ratio.

Dividends

MMSD vs. COM - Dividend Comparison

MMSD's dividend yield for the trailing twelve months is around 3.56%, more than COM's 2.51% yield.

Position	TTM	2025	2024	2023	2022	2021	2020	2019	2018	2017
COM Direxion Auspice Broad Commodity Strategy ETF	2.51%	2.99%	3.88%	3.80%	8.59%	10.32%	0.13%	1.09%	2.36%	0.09%
MMSD NYLI MacKay Muni Short Duration ETF	3.56%	2.30%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%

Frequently Asked Questions

Can I hold both MMSD and COM in my portfolio?

MMSD and COM have a correlation of -0.17, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, MMSD or COM?

COM has higher volatility (2.00%) compared to MMSD (0.74%). In terms of maximum drawdown, MMSD dropped -1.35% vs COM's -15.95%.

Which ETF is better, MMSD or COM?

On 1-year performance, COM leads with 25.71% vs 3.02% for MMSD. On fees, MMSD is cheaper at 0.25% per year. On volatility, MMSD has been the lower-risk option at 0.74%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, MMSD or COM?

Over the 1-year period, COM has performed better with a 25.71% return vs 3.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, MMSD or COM?

MMSD is cheaper with a 0.25% expense ratio, compared with 0.70% for COM.

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

MMSD has the higher dividend yield at 3.56%, compared with 2.51% for COM.

What is the main difference between MMSD and COM?

MMSD is categorized as Municipal Bonds, while COM is Commodities. They also come from different issuers: NYLI and Direxion. Their fees differ too: 0.25% for MMSD and 0.70% for COM.

Which has better risk-adjusted returns?

COM currently has the higher Sharpe Ratio (2.57 vs 1.66), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.