NYLI MacKay California Muni Intermediate ETF

Frequently Asked Questions About MMCA

What does MMCA invest in?

The NYLI MacKay California Muni Intermediate ETF (MMCA) is designed to generate ongoing income that is exempt from both federal and California income taxes. To achieve this, the ETF allocates a minimum of 80% of its assets to municipal bonds. Furthermore, it endeavors to enhance overall total return through the proactive management strategies employed by its subadvisor.

What is the expense ratio of MMCA?

NYLI MacKay California Muni Intermediate ETF (MMCA) charges an expense ratio of 0.45%. This is the annual fee deducted from fund assets to cover management and operations.

What is MMCA's dividend yield?

MMCA's trailing-twelve-month yield is 3.32%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of MMCA?

Effective duration measures MMCA's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. MMCA's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of MMCA?

MMCA's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of MMCA?

Yield to maturity (YTM) is the total return you'd earn from MMCA if every bond in the portfolio is held to maturity at the current price. MMCA's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.