NYLI MacKay Muni Intermediate ETF
MMIT
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 51 Madison Avenue New York NY United States of America 10010
- IPO Date
- Oct 18, 2017
- CIK
- 0001426439
- Website
- newyorklifeinvestments.com
- Similar Companies
- Business
- NYLI MacKay Muni Intermediate ETF (MMIT) is an actively managed exchange-traded fund that seeks current income exempt from federal income tax by investing primarily in investment-grade municipal bonds; it employs a relative value strategy utilizing credit analysis, yield curve positioning, and sector rotation to enhance total return potential. The fund offers exposure to a diversified portfolio of municipal securities across sectors including housing, industrial development revenue/pollution control revenue, local general obligation bonds, hospitals, electric utilities, special tax, water/sewer, leasing, transportation, education, other revenue, state general obligation bonds, prerefunded/escrowed to maturity, and resource recovery, with top state allocations in Texas, Illinois, California, New York, and Alabama; its credit quality breakdown features predominantly high-grade holdings (AAA 10.36%, AA 64.14%, A 17.77%, BBB 6.47%, not rated 1.25%), a modified duration to worst of 4.62 years, effective maturity of 9.77 years, and approximately 696 holdings as of September 30, 2025. Launched on October 18, 2017, and listed on NYSE Arca, the ETF is subadvised by MacKay Shields LLC, an affiliate of New York Life Investment Management, with portfolio management led by David Dowden (since inception), Frances Lewis (since 2018), Michael Denlinger (since 2020), and Matthew Hage (since August 2024); it is part of New York Life Investments' expanding suite of active municipal bond ETFs targeting retail and institutional investors seeking tax-efficient fixed income. In recent developments, the fund underwent a name change from IQ MacKay Municipal Intermediate ETF to NYLI MacKay Muni Intermediate ETF effective August 28, 2024, reflecting rebranding under New York Life Investments; it forms a key component of the firm's growing active muni ETF lineup, which saw expansions including the launch of NYLI MacKay Muni Short Duration ETF (MMSD) in May 2025 and NYLI MacKay Muni Allocation ETF (MMMA) in December 2025. Total net assets stand at $1.15 billion, with a net expense ratio of 0.30% after waivers (management fee 0.40%), monthly distributions, a 30-day SEC yield of 3.36%, and a Morningstar rating of 4 stars among Muni National Intermediate peers as of September 30, 2025.