MMCANYLI MacKay California Muni Intermediate ETF

Get income4y track recordRanked #754 of 1,622 in this goal

Seeks current income exempt from federal and California income taxes.

By New York Life Investment Management LLC · Launched 2021

Annual Cost

0.36%

#1,826 of 5,562 · low cost

Fund Size

$88M

#3,067 of 5,562 · mid-size

Dividend YieldGoal

3.58%

Track Record

4 years

#2,576 of 5,562 · seasoned

Performance

Total-return NAV · USD

Growth of $10,000

$10,628+6.3%

Total-return NAV, USD. Net of fund fees, before tax.

Classification

How Beacon categorizes this fund

Asset class

Fixed income

Region

North america

Strategy

Active selection

What it actually holds

By weight

Concentration

Top 10 holdings = 19.0% of fund✓ well diversified

CALIFORNIA CMNTY CHOICE FING A

2.9%

CALIFORNIA CMNTY CHOICE FING A

2.3%

SACRAMENTO CITY CA UNIF SCH DI

2.1%

SAN FRANCISCO CA CITY &CNTY AR

1.8%

SACRAMENTO CNTY CA ARPT SYS RE

1.7%

CALIFORNIA STWD CMNTYS DEV AUT

1.6%

CALIFORNIA ST HLTH FACS FING A

1.6%

UNIV OF CALIFORNIA CA REVENUES

1.6%

LOS ANGELES CA DEPT OF WTR & P

1.6%

CALIFORNIA ST HLTH FACS FING A

1.6%

Asset allocation

Bonds

97.1%

Cash

2.9%

Risk profile

Last 12 months · Sharpe & Sortino need 3+ years

Volatility (1Y)

2.6%Low

Year-on-year price swings

Max drawdown

-16.0%Moderate

Worst peak-to-trough loss

Sharpe (3Y)

0.20Below average

Sortino (3Y)

0.27Moderate downside risk

Bond profile

Duration

4.5 years

Avg maturity

10.4 years

Credit ratings

AAA

7.9%

53.1%

16.4%

BBB

12.6%

0.9%

Other

9.2%

Where to buy

Listing

Exchange: NYSE Arca

Full fund details

Objective: Seeks current income exempt from federal and California income taxes.
Strategy: Invests primarily in municipal bonds exempt from federal and California taxes, maintaining at least 80% of assets in such bonds. The Fund may invest up to 20% in below investment grade bonds. It targets a modified duration of 3 to 8 years and employs active management to identify mispriced bonds, focusing on credit quality and yield advantage.
Inception date: December 21, 2021
Fund family: New York Life Investment Management LLC