NYLIM MacKay Muni High Income ETF

Frequently Asked Questions About MMHI

What does MMHI invest in?

NYLIM MacKay Muni High Income ETF is an actively managed exchange-traded fund that seeks a high level of current income exempt from regular federal income tax. The fund primarily invests in municipal securities issued by states, municipalities, and related governmental entities, with an emphasis on higher-yielding municipal obligations. The ETF is listed on NYSE Arca under the ticker MMHI.

What is the expense ratio of MMHI?

NYLIM MacKay Muni High Income ETF (MMHI) charges an expense ratio of 0.40%. This is the annual fee deducted from fund assets to cover management and operations.

What is the duration of MMHI?

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

What is the credit quality of MMHI?

MMHI'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 MMHI?

Yield to maturity (YTM) is the total return you'd earn from MMHI if every bond in the portfolio is held to maturity at the current price. MMHI'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.

How big is MMHI?

NYLIM MacKay Muni High Income ETF (MMHI) manages $42.6M in total assets. AUM determines bid-ask liquidity and the fund's vulnerability to closure. Funds below ~$50M are at higher risk of liquidation.