NYLI MacKay Muni Allocation ETF

Frequently Asked Questions About MMMA

What does MMMA invest in?

The NYLI MacKay Muni Allocation ETF (MMMA) endeavors to provide significant tax-free income. Its primary investment approach involves allocating capital to high-quality municipal bonds, but it also retains the strategic flexibility to invest in lower-rated, non-investment-grade municipal securities. This tactical allocation is guided by a rigorous, research-driven analysis focused on identifying relative value opportunities in the market.

What is the expense ratio of MMMA?

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

What is MMMA's dividend yield?

MMMA's trailing-twelve-month yield is 2.95%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of MMMA?

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

What is the credit quality of MMMA?

MMMA'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 MMMA?

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