NYLI MacKay Muni Insured ETF

Frequently Asked Questions About MMIN

What does MMIN invest in?

MMIN offers an active management perspective on the US investment-grade municipal bond space. The portfolio includes bonds of varying maturities (dollar-weighted average duration of 3-15 years), issued by at least 15 different states and encompassing at least 10 sectors, with no more than 30% of the securities from a single state. The fund selects bonds covered by an insurance policy, which guarantees principal and interest payments but lowers yield, and debt securities whose interest is exempt from federal Income tax. Investments are based on an assessment of macro factors that could include ESG criteria. An investment strategy is developed to position the fund among various sectors of the municipal bond market in different states. A fundamental, bottom-up credit research analysis is employed to finally select individual bonds. Prior to Aug. 28, 2024, the fund name was branded under IndexIQ.

What is the expense ratio of MMIN?

NYLI MacKay Muni Insured ETF (MMIN) charges an expense ratio of 0.40%. This is the annual fee deducted from fund assets to cover management and operations.

What is MMIN's dividend yield?

MMIN's trailing-twelve-month yield is 4.07%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of MMIN?

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

What is the credit quality of MMIN?

MMIN'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 MMIN?

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