MMCAvsDFCAETF Comparison
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NYLI MacKay California Muni Intermediate ETF (MMCA) and Dimensional California Municipal Bond ETF (DFCA) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. MMCA is more expensive with a Total Expense Ratio (TER) of 0.7%, versus 0.19% for DFCA. MMCA is up 0.23% year-to-date (YTD) with +$23M in YTD flows. DFCA performs worse with 0.13% YTD performance, and +$133M in YTD flows. Run a side-by-side ETF comparison of MMCA and DFCA below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.
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MMCA vs DFCA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 08/27/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MMCA DFCA | +0.39%-0.14% | -0.30%-0.81% | +0.23%+0.13% | +3.47%+2.87% | +12.37%+7.81% | n/an/a |
| Flows | MMCA DFCA | +$1M+$19M | +$4M+$47M | +$23M+$133M | +$59M+$239M | +$58M+$560M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MMCA DFCA | +2.40%+1.62% | +2.21%+1.54% | +2.93%+2.27% | n/an/a |
| Max drawdown | MMCA DFCA | -2.04%-1.32% | -2.77%-1.73% | -3.70%-3.58% | n/an/a |
| Max drawdown duration | MMCA DFCA | 52d56d | 179d183d | 151d270d | n/an/a |
Trading data
MMCA | DFCA | |
Last sale 9/2/2026 at 1:30 PM | $21.26 | $49.13 |
| Previous close 09/01/2026 | $21.25 | $49.12 |
| Consolidated volume 09/01/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/2/2026 at 1:30 PM
Live
Closed
MMCA | DFCA | |
|---|---|---|
| Last price | $21.26 | $49.13 |
| 1D performance | +0.05% | +0.02% |
| AuM | $90.02 M | $722.96 M |
| E/R | 0.7% | 0.19% |
Characteristics
MMCA | DFCA | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | New York Life Investments | Dimensional |
| Benchmark | - | - |
| N° of holdings | 35 | 133 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 22, 2021 | June 27, 2023 |
| ESG | No | No |
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Exposure
Countries
MMCA
USA
33.52%
Other
66.48%
DFCA
USA
36.1%
Other
63.9%
Sectors
MMCA
Municipal
33.52%
Other
66.48%
DFCA
Municipal
36.1%
Other
63.9%
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Diversification
MMCA
Total weight of top 15 holdings out of 15
25.56%
DFCA
Total weight of top 15 holdings out of 15
13.43%
Top 15 holdings
Data as of July 31, 2026
MMCA
California Community Choice Financing Authority, 5% 1oct2034, USD (2026G)
2.70%
California Community Choice Financing Authority, 5.25% 1feb2036, USD (2026C)
2.29%
US13013JCM62
2.26%
California Public Works Board, 5% 1sep2035, USD (2026)
2.14%
US120827ES50
2.06%
US13077DYV80
1.84%
San Jose (CA), 3.05% 1may2066, USD (2026A)
1.60%
California Infrastructure and Economic Development Bank, 3.25% 1jun2033, USD (2026)
1.59%
US845389PU30
1.37%
US13032UWT14
1.37%
California Community Choice Financing Authority, 5% 1apr2056, USD (2026A-1)
1.35%
US13080SJE54
1.29%
US376087EM00
1.24%
Anaheim Community Facilities District №08-1, 4% 1sep2041, USD (2016)
1.23%
US010824PH72
1.20%
DFCA
California, 5% 1apr2035, USD
1.53%
US769110DA28
1.32%
US797661G257
1.04%
US072024YF30
0.95%
US544647HM52
0.91%
US797661D510
0.90%
California, 5% 1oct2042, USD
0.88%
California, 5% 1oct2029, USD
0.79%
US013079R2J7
0.77%
US797661F424
0.76%
California, 4% 1nov2036, USD
0.75%
US544647JH40
0.73%
US013079QGW5
0.70%
US013079Q2R1
0.70%
University of California Medical Center, FRN 15may2045, USD
0.70%
Frequently asked questions about MMCA and DFCA
How have the MMCA and DFCA ETFs performed in 2026?
As of August 27, 2026, MMCA is up 0.23% year-to-date (YTD), while DFCA has returned 0.13%. That puts MMCA better performer ahead so far this year.
Which ETF is attracting more investor money: MMCA or DFCA?
Year-to-date, the MMCA ETF saw +$23M in flows, compared to +$133M for DFCA.
Which ETF is more volatile: MMCA or DFCA?
Over the past year, MMCA had a volatility of 2.21%, while DFCA experienced 1.54%.
Which ETF is bigger: MMCA or DFCA?
As of August 27, 2026, MMCA holds $90.02 M in assets under management (AUM), while DFCA manages $722.96 M.
What sectors do the MMCA and DFCA ETFs invest in?
MMCA leans toward sectors like Municipal. Meanwhile, DFCA focuses on Municipal.
What are the top holdings of the MMCA ETF and DFCA ETF?
MMCA top holdings include California Community Choice Financing Authority, 5% 1oct2034, USD (2026G), California Community Choice Financing Authority, 5.25% 1feb2036, USD (2026C) and US13013JCM62. DFCA holds in its top three: California, 5% 1apr2035, USD, US769110DA28 and US797661G257.
Which ETF is more diversified: MMCA or DFCA?
MMCA holds 124 securities with 25.56% of its assets in the top 15. DFCA has 505 securities and a top 15 weight of 13.43%.
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