MMCAvsTAXFETF Comparison
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NYLI MacKay California Muni Intermediate ETF (MMCA) and American Century Diversified Municipal Bond ETF (TAXF) 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 0.25% for TAXF. MMCA is down -2.54% year-to-date (YTD) with +$33M in YTD flows. TAXF performs better with -1.87% YTD performance, and +$186M in YTD flows. Run a side-by-side ETF comparison of MMCA and TAXF 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 TAXF 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 TAXF | -0.54%-0.40% | -3.25%-3.76% | -2.54%-1.87% | -1.81%-1.18% | +11.12%+11.92% | n/a+1.98% |
| Flows | MMCA TAXF | +$9M+$40M | +$11M+$63M | +$33M+$186M | +$43M+$219M | +$67M+$386M | -+$580M |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MMCA TAXF | +4.73%+5.54% | +2.98%+3.44% | +3.12%+3.93% | n/a+3.88% |
| Max drawdown | MMCA TAXF | -5.42%-6.26% | -6.73%-6.91% | -6.73%-6.91% | n/a-13.26% |
| Max drawdown duration | MMCA TAXF | 64d92d | 229d103d | 229d103d | n/a1001d |
Trading data
MMCA | TAXF | |
Last sale 10/16/2026 at 1:30 PM | $20.81 | $47.83 |
| Previous close 10/15/2026 | $20.78 | $47.87 |
| 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 | TAXF | |
|---|---|---|
| Last price | $20.81 | $47.83 |
| 1D performance | +0.14% | -0.08% |
| AuM | $97.66 M | $705.56 M |
| E/R | 0.7% | 0.25% |
Characteristics
MMCA | TAXF | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | New York Life Investments | American Century Investments |
| Benchmark | - | - |
| N° of holdings | 33 | 244 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 22, 2021 | September 10, 2018 |
| ESG | No | No |
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Exposure
Countries
MMCA
USA
31.29%
Other
68.71%
TAXF
USA
35.49%
Other
64.51%
Sectors
MMCA
Municipal
31.29%
Other
68.71%
TAXF
Municipal
35.49%
Other
64.51%
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Diversification
MMCA
Total weight of top 15 holdings out of 15
26.09%
TAXF
Total weight of top 15 holdings out of 15
8.47%
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%
TAXF
US74442PN840
0.88%
Build NYC Resource Corp., 5.25% 15dec2031, USD (2026B-3)
0.88%
Arkansas Development Finance Authority, 4% 1sep2046, USD (2026A)
0.73%
US60637GRY79
0.65%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
0.58%
US646080ZU81
0.57%
US452252RA98
0.54%
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
0.54%
Southeast Alabama Gas Supply District, FRN 1aug2054, USD (A)
0.54%
US681725PH47
0.46%
Orlando Utilities Commission, 5% 1oct2048, USD (2023A)
0.45%
US74439YBD22
0.44%
US292723AY90
0.41%
US880157EC24
0.40%
Patriots Energy Group Financing Agency, 5.25% 1oct2054, USD (2023A-1)
0.40%
Frequently asked questions about MMCA and TAXF
How have the MMCA and TAXF ETFs performed in 2026?
As of October 16, 2026, MMCA is down -2.54% year-to-date (YTD), while TAXF has lost -1.87%. That puts TAXF better performer ahead so far this year.
Which ETF is attracting more investor money: MMCA or TAXF?
Year-to-date, the MMCA ETF saw +$33M in flows, compared to +$186M for TAXF.
Which ETF is more volatile: MMCA or TAXF?
Over the past year, MMCA had a volatility of 2.98%, while TAXF experienced 3.44%.
Which ETF is bigger: MMCA or TAXF?
As of October 16, 2026, MMCA holds $97.66 M in assets under management (AUM), while TAXF manages $705.56 M.
What sectors do the MMCA and TAXF ETFs invest in?
MMCA leans toward sectors like Municipal. Meanwhile, TAXF focuses on Municipal.
What are the top holdings of the MMCA ETF and TAXF 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. TAXF holds in its top three: US74442PN840, Build NYC Resource Corp., 5.25% 15dec2031, USD (2026B-3) and Arkansas Development Finance Authority, 4% 1sep2046, USD (2026A).
Which ETF is more diversified: MMCA or TAXF?
MMCA holds 120 securities with 26.09% of its assets in the top 15. TAXF has 792 securities and a top 15 weight of 8.47%.
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