# NYLI MacKay California Muni Intermediate ETF (MMCA): ETF Facts & Distributions > Markdown mirror of https://www.dividenddata.com/funds/mmca for AI agents. Same live data as the HTML page, regenerated on the same refresh cycle. Not investment advice. - Issuer: NY Life Investments · Asset class: Fixed Income - Strategy: Actively Managed · Inception: 2021-12-21 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. ## Key Facts | Metric | Value | |---|---| | Price | $21.14 | | Expense Ratio | 0.45% | | Assets Under Management | $85.0M | | NAV | $21.11 | | Holdings Count | 123 | | Distribution Yield (TTM) | 3.32% | | Annual Distribution (TTM) | $0.70 /share | | Distribution Frequency | Monthly | | 52-Week Range | $20.37 – $22.26 | | Beta | 0.80 | ## Latest Distribution - Amount: $0.0618 /share - Ex-date: 2026-09-30 - Pay date: 2026-10-02 ## Frequently Asked Questions ### 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. ### Does MMCA pay a dividend? Yes, NYLI MacKay California Muni Intermediate ETF (MMCA) distributes dividends to shareholders. The trailing-twelve-month yield is 3.32%. Full dividend history is on this page. ### How often does MMCA pay dividends? NYLI MacKay California Muni Intermediate ETF pays dividends Monthly. Each ex-dividend date, record date, and payment date is listed in the dividend history table on this page. ### When is MMCA's next ex-dividend date? The most recently announced ex-dividend date for MMCA was 2026-09-30. The next ex-date typically follows Monthly; once announced it appears at the top of the dividend history table on this page. ### How much will MMCA's expense ratio cost me over 30 years? On a $10,000 investment compounding at 7% gross return, a 0.45% expense ratio quietly compounds against your balance every year. The Fee Compounding Forecast card above projects the dollar drag for any holding period and assumption you pick. The typical result for a 1.0% expense ratio on a 30-year hold is roughly 25% of the final balance lost to fees. ### How does MMCA charge its expense ratio? The expense ratio is deducted in tiny daily slices from MMCA's net asset value (NAV). You never see a bill. The price quoted on every exchange is already net of fees. There's no "fee day" to avoid; the cost is continuous and built into the trading price. ### Why does MMCA cost more than a fund like VOO? MMCA is actively managed (current expense ratio 0.45%). Active funds charge more than passive index trackers in exchange for the manager's discretion to over- or under-weight positions. The Cost Verdict card above tells you whether MMCA's fee is competitive for the active-management cohort. ### Are there cheaper alternatives to MMCA? The Lower-Fee Alternatives card above lists ETFs following the same investment strategy as MMCA (0.45%) but at a lower expense ratio. Each row shows the fee gap, the peer's AUM as a liquidity sanity-check, and a direct link to that fund's analysis page. Cheaper price doesn't automatically mean better. Verify the peer holds what you actually want. ## More on Dividend Data - Overview (HTML): https://www.dividenddata.com/funds/mmca - Distribution history: https://www.dividenddata.com/funds/mmca/dividend - Holdings & diversification: https://www.dividenddata.com/funds/mmca/diversification - Fees & cheaper alternatives: https://www.dividenddata.com/funds/mmca/expenses - Peer comparison: https://www.dividenddata.com/funds/mmca/peers Data sourced from primary filings and market data providers; see https://www.dividenddata.com/methodology.