MMSD

NYLI MacKay Muni Short Duration ETF

$25.37

+0.00%

Market closed. Last update: 10:56 PM ET

📎 Investment Objective

The NYLI MacKay Muni Short Duration ETF (MMSD) seeks to provide current income that is generally exempt from federal income taxes by investing primarily in short-term municipal bonds.

Overview

ETF tracking NYLI MacKay Muni Short Duration ETF

Category Municipal Bonds

Issuer Other

Inception Date 2025-05-06

Market Cap $27.9M

Average Volume N/A

Dividend Yield 1.63%

52-Week Range $24.99 - $25.61

VWAP $25.40

Performance

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Investment Summary

📎 Investment Objective

The NYLI MacKay Muni Short Duration ETF (MMSD) seeks to provide current income that is generally exempt from federal income taxes by investing primarily in short-term municipal bonds.

🎯 Investment Strategy

The fund invests in a diversified portfolio of municipal bonds with an average duration of 1-3 years. The portfolio is actively managed to maintain a high-quality, low-risk profile while generating tax-exempt income.

✨ Key Features

Focuses on short-term municipal bonds to provide tax-exempt income with lower interest rate risk
Actively managed portfolio to maintain a high credit quality and low duration profile
Seeks to provide a stable, low-volatility investment option for municipal bond exposure
Expense ratio of 0.00% makes it a low-cost option for municipal bond exposure

⚠️ Primary Risks

Interest rate risk: The fund's value 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: The municipal bond market can experience periods of lower liquidity, which may impact the fund's ability to sell holdings
Tax risk: Changes in tax laws could affect the tax-exempt status of the municipal bonds held by the fund

👤 Best For

The NYLI MacKay Muni Short Duration ETF may be suitable for investors seeking tax-exempt income and lower interest rate risk, such as those in higher tax brackets or with a conservative risk tolerance. It can serve as a core holding or a complement to a broader fixed income portfolio.