MMSDvsFTMSETF Comparison
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NYLI MacKay Muni Short Duration ETF (MMSD) and Franklin Short-Term Municipal Income ETF (FTMS) belong to the same industry segment: Municipal Bonds. MMSD's top 3 sector exposures are Municipal, Healthcare and Industrials. In contrast, FTMS's top sector exposures are Municipal. MMSD is more expensive with a Total Expense Ratio (TER) of 0.44%, versus 0.22% for FTMS. MMSD is up 0.68% year-to-date (YTD) with +$28M in YTD flows. FTMS performs worse with -0.98% YTD performance, and +$73M in YTD flows. Run a side-by-side ETF comparison of MMSD and FTMS 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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MMSD vs FTMS performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/15/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | MMSD FTMS | -0.19%-0.29% | -0.84%-1.34% | +0.68%-0.98% | +1.32%n/a | n/an/a | n/an/a |
| Flows | MMSD FTMS | -$4K+$25M | +$9M+$45M | +$28M+$73M | +$30M- | -- | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | MMSD FTMS | +2.35%+2.06% | +1.49%n/a | n/an/a | n/an/a |
| Max drawdown | MMSD FTMS | -2.45%-2.33% | -2.45%n/a | n/an/a | n/an/a |
| Max drawdown duration | MMSD FTMS | 51d92d | 51dn/a | n/an/a | n/an/a |
Trading data
MMSD | FTMS | |
Last sale 10/16/2026 at 1:30 PM | $24.93 | $9.78 |
| Previous close 10/15/2026 | $24.89 | $9.79 |
| 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
MMSD | FTMS | |
|---|---|---|
| Last price | $24.93 | $9.78 |
| 1D performance | +0.16% | -0.10% |
| AuM | $83.38 M | $232.32 M |
| E/R | 0.44% | 0.22% |
Characteristics
MMSD | FTMS | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | New York Life Investments | Franklin Templeton |
| Benchmark | - | - |
| N° of holdings | 39 | 47 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | May 5, 2025 | October 24, 2025 |
| ESG | No | No |
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Exposure
Countries
MMSD
USA
22.7%
Other
77.3%
FTMS
USA
24.57%
Other
75.43%
Sectors
MMSD
Municipal
20.42%
Other
79.58%
FTMS
Municipal
24.57%
Other
75.43%
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Diversification
MMSD
Total weight of top 15 holdings out of 15
19.73%
FTMS
Total weight of top 15 holdings out of 15
16.97%
Top 15 holdings
Data as of August 31, 2026
MMSD
US04780M6J36
1.81%
US708692BV94
1.77%
US72342NAF24
1.45%
US1675937H96
1.33%
US118217CN67
1.26%
US84136HCT86
1.25%
US19648FJ393
1.25%
Black Belt Energy Gas District, 5% 1jun2031, USD (2026)
1.24%
Main Street Natural Gas Inc., 5% 1may2054, USD (2023D)
1.23%
US452152S852
1.21%
US63609YAA64
1.19%
US04785VCD47
1.18%
US360059AL37
1.18%
New York Housing Development Corp., 5.458% 15dec2031, USD (2024, A)
1.18%
US59447UBB52
1.18%
FTMS
Southeast Energy Authority, 5.25% 1mar2055, USD (2025B)
1.45%
US091097AA35
1.31%
US69068WAD56
1.20%
US81640AAB98
1.18%
Main Street Natural Gas Inc., 4% 1jul2052, USD (2021A)
1.16%
California State University, 0.55% 1nov2049, USD (2016B-2)
1.13%
US686865AR74
1.11%
Texas Municipal Gas Acquisition and Supply Corp., 5% 1apr2036, USD (2026)
1.09%
Kentucky Public Energy Authority, 5% 1dec2033, USD (2025)
1.06%
City of Los Angeles, 5% 24jun2027, USD (2026)
1.06%
California Community Choice Financing Authority, 5% 1nov2055, USD (2024G)
1.05%
US717883J787
1.05%
Newark, 4.25% 5may2027, USD (2026)
1.05%
US352410CV42
1.04%
US773661AB90
1.04%
Frequently asked questions about MMSD and FTMS
How have the MMSD and FTMS ETFs performed in 2026?
As of October 15, 2026, MMSD is up 0.68% year-to-date (YTD), while FTMS has lost -0.98%. That puts MMSD better performer ahead so far this year.
Which ETF is attracting more investor money: MMSD or FTMS?
Year-to-date, the MMSD ETF saw +$28M in flows, compared to +$73M for FTMS.
Which ETF is bigger: MMSD or FTMS?
As of October 15, 2026, MMSD holds $83.38 M in assets under management (AUM), while FTMS manages $232.32 M.
What sectors do the MMSD and FTMS ETFs invest in?
MMSD leans toward sectors like Municipal. Meanwhile, FTMS focuses on Municipal.
What are the top holdings of the MMSD ETF and FTMS ETF?
MMSD top holdings include US04780M6J36, US708692BV94 and US72342NAF24. FTMS holds in its top three: Southeast Energy Authority, 5.25% 1mar2055, USD (2025B), US091097AA35 and US69068WAD56.
Which ETF is more diversified: MMSD or FTMS?
MMSD holds 162 securities with 19.73% of its assets in the top 15. FTMS has 253 securities and a top 15 weight of 16.97%.
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