Symbols

MMIN

NYLI MacKay Muni Insured ETF·ARCA

--(--)

Key Stats

Assets Under Management

409.39MUSD

Fund Flow (1Y)

-62.60MUSD

Dividend Yield

4.75%

Discount / Premium to NAV

0.13%

Shares Outstanding

17.30M

Expense Ratio

0.30%

About NYLI MacKay Muni Insured ETF

Issuer

New York Life Investment Management LLC

Brand

New York Life Investments

Home Page

https://www.newyorklifeinvestments.com/etf/nyli-mackay-muni-insured-etf-mmin?ticker=MMIN

Inception Date

Oct 18, 2017

Structure

Open-Ended Fund

Index Tracked

Management Style

Active

Dividend Treatment

Distributes

Distribution Tax Treatment

Ordinary income

Income Tax Type

Capital Gains

Max ST Capital Gains Rate

39.60%

Max LT Capital Gains Rate

20.00%

Primary Advisor

New York Life Investment Management LLC

Distributor

ALPS Distributors, Inc.

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.