MMMAvsSUBETF Comparison
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NYLI MacKay Muni Allocation ETF (MMMA) and iShares Short-Term National Muni Bond ETF (SUB) belong to the same industry segment: Municipal Bonds. MMMA's top 1 sector exposures are Municipal. In contrast, SUB's top sector exposures are Municipal and Non-Corporate. MMMA is more expensive with a Total Expense Ratio (TER) of 0.69%, versus 0.07% for SUB. MMMA is down -0.2% year-to-date (YTD) with +$31M in YTD flows. SUB performs better with 0.64% YTD performance, and +$2.50B in YTD flows. Run a side-by-side ETF comparison of MMMA and SUB 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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MMMA vs SUB performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MMMA SUB | -0.49%+0.09% | -3.30%-0.38% | -0.20%+0.64% | n/a+1.13% | n/a+9.28% | n/a+7.37% |
| Flows | MMMA SUB | +$29M+$1.05B | +$30M+$1.51B | +$31M+$2.50B | -+$2.84B | -+$3.82B | -+$6.63B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MMMA SUB | +5.86%+1.90% | n/a+1.15% | n/a+1.17% | n/a+1.22% |
| Max drawdown | MMMA SUB | -5.97%-1.94% | n/a-1.94% | n/a-1.94% | n/a-3.94% |
| Max drawdown duration | MMMA SUB | 92d52d | n/a52d | n/a52d | n/a771d |
Trading data
MMMA | SUB | |
Last sale 10/16/2026 at 1:30 PM | $105.28 | |
| Previous close 10/15/2026 | $105.28 | |
| Consolidated volume 10/15/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
Replication quality
Data as of October 18, 2026
1-year trailing difference
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MMMA
is actively managed and doesn’t replicate an indexMMMA | SUB | |
|---|---|---|
| Tracking error | ||
| Tracking difference | ||
| 1 year cumulative return difference | ||
| Best | ||
| Worst | ||
| Daily return difference | ||
| Average | ||
| Worst | ||
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Main metrics
Last update 10/16/2026 at 1:30 PM
Live
Closed
MMMA | SUB | |
|---|---|---|
| Last price | – | $105.28 |
| 1D performance | – | +0.00% |
| AuM | $56.92 M | $12.74 B |
| E/R | 0.69% | 0.07% |
Characteristics
MMMA | SUB | |
|---|---|---|
| Management strategy | Active | Passive |
| Provider | New York Life Investments | iShares |
| Benchmark | - | ICE Short Maturity AMT-Free US National Municipal Index |
| N° of holdings | 23 | 1169 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | December 16, 2025 | November 5, 2008 |
| ESG | No | No |
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Exposure
Countries
MMMA
USA
42.81%
Other
57.19%
SUB
USA
46.89%
Other
53.11%
Sectors
MMMA
Municipal
42.81%
Other
57.19%
SUB
Municipal
46.88%
Other
53.12%
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Diversification
MMMA
Total weight of top 15 holdings out of 15
50.35%
SUB
Total weight of top 15 holdings out of 15
3.97%
Top 15 holdings
Data as of August 31, 2026
MMMA
US63877NPK71
4.24%
US8371516N47
3.80%
US544446BM85
3.73%
Black Belt Energy Gas District, 5% 1dec2034, USD (2026)
3.57%
Chicago O'Hare International Airport, 5.5% 1jan2048, USD (2025E)
3.52%
Illinois Toll Highway Authority, 5% 1jan2037, USD
3.52%
US11506KHB08
3.46%
Chicago Board of Education, 6% 1apr2046, USD (2017)
3.42%
Equitable School Revolving Fund, 5.25% 1nov2053, USD (2023A)
3.42%
US24917QBP81
3.38%
US63607WBN39
3.15%
US59261ACR68
2.94%
Colorado Health Facilities Authority, 4% 1aug2049, USD (2019A-2)
2.90%
US03843TBE01
2.71%
Minnesota Municipal Gas Energy, 5% 1sep2035, USD (2026A)
2.60%
SUB
US13063EUS35
0.44%
New Jersey Economic Development Authority, 5% 1mar2028, USD (2023)
0.36%
US64972JWP91
0.33%
New York Municipal Water Finance Authority, FRN 15jun2053, USD (2023)
0.27%
US13063EDB92
0.26%
US89602RPH20
0.25%
Empire State Development Corp., 5% 15sep2028, USD (2022A)
0.25%
US91412HWB58
0.24%
US646140JM63
0.24%
California, 5% 1nov2027, USD
0.23%
California, 5% 1apr2029, USD
0.23%
US812643H643
0.23%
US373385QU02
0.22%
City of New York, FRN 1feb2056, USD (2026)
0.22%
US207758Y563
0.20%
Frequently asked questions about MMMA and SUB
How have the MMMA and SUB ETFs performed in 2026?
As of October 16, 2026, MMMA is down -0.2% year-to-date (YTD), while SUB has returned 0.64%. That puts SUB better performer ahead so far this year.
Which ETF is attracting more investor money: MMMA or SUB?
Year-to-date, the MMMA ETF saw +$31M in flows, compared to +$2.50B for SUB.
Which ETF is bigger: MMMA or SUB?
As of October 16, 2026, MMMA holds $56.92 M in assets under management (AUM), while SUB manages $12.74 B.
What sectors do the MMMA and SUB ETFs invest in?
MMMA leans toward sectors like Municipal. Meanwhile, SUB focuses on Municipal.
What are the top holdings of the MMMA ETF and SUB ETF?
MMMA top holdings include US63877NPK71, US8371516N47 and US544446BM85. SUB holds in its top three: US13063EUS35, New Jersey Economic Development Authority, 5% 1mar2028, USD (2023) and US64972JWP91.
Which ETF is more diversified: MMMA or SUB?
MMMA holds 49 securities with 50.35% of its assets in the top 15. SUB has 2884 securities and a top 15 weight of 3.97%.
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