MMCAvsSTAXETF Comparison
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NYLI MacKay California Muni Intermediate ETF (MMCA) and Nomura Tax-Free USA Short Term ETF (STAX) 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 0.29% for STAX. MMCA is down -2.54% year-to-date (YTD) with +$33M in YTD flows. STAX performs better with 0.62% YTD performance, and +$6M in YTD flows. Run a side-by-side ETF comparison of MMCA and STAX 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 STAX performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MMCA STAX | -0.54%-0.05% | -3.25%-0.88% | -2.54%+0.62% | -1.81%+1.00% | +11.12%n/a | n/an/a |
| Flows | MMCA STAX | +$9M-$3K | +$11M-$2M | +$33M+$6M | +$43M+$6M | +$67M- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MMCA STAX | +4.73%+2.37% | +2.98%+1.45% | +3.12%n/a | n/an/a |
| Max drawdown | MMCA STAX | -5.42%-2.49% | -6.73%-2.57% | -6.73%n/a | n/an/a |
| Max drawdown duration | MMCA STAX | 64d64d | 229d101d | 229dn/a | n/an/a |
Trading data
MMCA | STAX | |
Last sale 10/16/2026 at 1:30 PM | $20.81 | $24.92 |
| Previous close 10/15/2026 | $20.78 | $24.92 |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
MMCA | STAX | |
|---|---|---|
| Last price | $20.81 | $24.92 |
| 1D performance | +0.14% | +0.00% |
| AuM | $97.66 M | $11.24 M |
| E/R | 0.7% | 0.29% |
Characteristics
MMCA | STAX | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | New York Life Investments | Nomura |
| Benchmark | - | - |
| N° of holdings | 33 | 30 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 22, 2021 | November 28, 2023 |
| ESG | No | No |
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Exposure
Countries
MMCA
USA
31.29%
Other
68.71%
STAX
USA
34.04%
Other
65.96%
Sectors
MMCA
Municipal
31.29%
Other
68.71%
STAX
Municipal
34.04%
Other
65.96%
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Diversification
MMCA
Total weight of top 15 holdings out of 15
26.09%
STAX
Total weight of top 15 holdings out of 15
27.98%
Top 15 holdings
Data as of August 31, 2026
MMCA
California Community Choice Financing Authority, 5% 1oct2034, USD (2026G)
2.63%
California Community Choice Financing Authority, 5.25% 1feb2036, USD (2026C)
2.22%
US13013JCM62
2.20%
California Public Works Board, 5% 1sep2035, USD (2026)
2.06%
US120827ES50
2.00%
US13077DYV80
1.80%
US544446BN68
1.72%
San Jose (CA), 3.05% 1may2066, USD (2026A)
1.57%
California Infrastructure and Economic Development Bank, 3.25% 1jun2033, USD (2026)
1.55%
Puerto Rico, 4% 1jul2037, USD
1.52%
Foothill/Eastern Transportation Corridor Agency, 0% 15jan2035, USD (2015A, 7270D)
1.49%
California, 5% 1sep2039, USD
1.41%
US13032UWT14
1.33%
US845389PU30
1.30%
US13050WAL54
1.28%
STAX
US650116FF84
2.40%
US4521525L18
2.31%
US85236DAK46
2.12%
Chicago, 5% 1nov2026, USD (2004)
2.08%
US45470YGF25
1.90%
US54877EAC03
1.89%
Tobacco Settlement Financing Corp. (NJ), 5% 1jun2029, USD (2018A)
1.82%
New York Transportation Development Corp., 5% 1jan2028, USD (2018)
1.80%
US472682YZ07
1.79%
US73358XNJ71
1.74%
US60374VEX73
1.73%
US46613SRN26
1.73%
US725304TX70
1.66%
US63608SAG75
1.55%
Equitable School Revolving Fund, 5% 1nov2028, USD (2022A)
1.47%
Frequently asked questions about MMCA and STAX
How have the MMCA and STAX ETFs performed in 2026?
As of October 16, 2026, MMCA is down -2.54% year-to-date (YTD), while STAX has returned 0.62%. That puts STAX better performer ahead so far this year.
Which ETF is attracting more investor money: MMCA or STAX?
Year-to-date, the MMCA ETF saw +$33M in flows, compared to +$6M for STAX.
Which ETF is more volatile: MMCA or STAX?
Over the past year, MMCA had a volatility of 2.98%, while STAX experienced 1.45%.
Which ETF is bigger: MMCA or STAX?
As of October 16, 2026, MMCA holds $97.66 M in assets under management (AUM), while STAX manages $11.24 M.
What sectors do the MMCA and STAX ETFs invest in?
MMCA leans toward sectors like Municipal. Meanwhile, STAX focuses on Municipal.
What are the top holdings of the MMCA ETF and STAX 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. STAX holds in its top three: US650116FF84, US4521525L18 and US85236DAK46.
Which ETF is more diversified: MMCA or STAX?
MMCA holds 120 securities with 26.09% of its assets in the top 15. STAX has 82 securities and a top 15 weight of 27.98%.
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