MMIT

NYLI MacKay Muni Intermediate ETF

$24.34

+0.00%

Market closed. Last update: 11:45 PM ET

📎 Investment Objective

The NYLI MacKay Muni Intermediate ETF seeks to provide current income exempt from federal income taxes by investing primarily in investment-grade municipal bonds.

Overview

ETF tracking NYLI MacKay Muni Intermediate ETF

Category Municipal Bonds

Issuer Other

Inception Date 2017-10-18

Market Cap $1.1B

Average Volume N/A

Dividend Yield 2.95%

52-Week Range $23.36 - $24.48

VWAP $24.35

Performance

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Investment Summary

📎 Investment Objective

The NYLI MacKay Muni Intermediate ETF seeks to provide current income exempt from federal income taxes by investing primarily in investment-grade municipal bonds.

🎯 Investment Strategy

The fund invests in a diversified portfolio of municipal bonds with intermediate-term maturities, typically 3-10 years. The portfolio is actively managed, with the goal of generating tax-exempt income while managing interest rate risk.

✨ Key Features

Focuses on investment-grade municipal bonds with intermediate-term maturities
Actively managed portfolio to balance income generation and interest rate risk
Seeks to provide federal tax-exempt income
Low expense ratio of 0.00%

⚠️ Primary Risks

Interest rate risk: The value of the fund's holdings may decline if interest rates rise
Credit risk: The fund is exposed to the risk of default or downgrade of the municipal bonds it holds
Liquidity risk: Municipal bonds may have lower liquidity compared to other fixed income securities
Concentration risk: The fund's performance may be more sensitive to events affecting the municipal bond market

👤 Best For

The NYLI MacKay Muni Intermediate ETF may be suitable for investors seeking tax-exempt income and moderate interest rate risk, such as those in higher tax brackets or with a medium-term investment horizon.