PMIOvsMMCAETF Comparison
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PGIM Municipal Income Opportunities ETF (PMIO) and NYLI MacKay California Muni Intermediate ETF (MMCA) belong to the same industry segment: Municipal Bonds. PMIO's top 2 sector exposures are Municipal and Non-Corporate. In contrast, MMCA's top sector exposures are Municipal. PMIO is less expensive with a Total Expense Ratio (TER) of 0.25%, versus 0.7% for MMCA. PMIO is up 0.9% year-to-date (YTD) with +$17M in YTD flows. MMCA performs worse with -1.13% YTD performance, and +$23M in YTD flows. Run a side-by-side ETF comparison of PMIO and MMCA 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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PMIO vs MMCA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/08/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | PMIO MMCA | -0.58%-1.66% | -1.04%-2.22% | +0.90%-1.13% | +3.09%+0.83% | n/a+10.82% | n/an/a |
| Flows | PMIO MMCA | +$1M- | +$4M+$3M | +$17M+$23M | +$25M+$58M | -+$58M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | PMIO MMCA | +2.09%+2.71% | +1.95%+2.25% | n/a+2.96% | n/an/a |
| Max drawdown | PMIO MMCA | -1.62%-2.63% | -2.30%-3.31% | n/a-3.70% | n/an/a |
| Max drawdown duration | PMIO MMCA | 64d65d | 108d192d | n/a151d | n/an/a |
Trading data
PMIO | MMCA | |
Last sale 9/10/2026 at 1:30 PM | $49.46 | $20.98 |
| Previous close 09/09/2026 | $49.76 | $21.13 |
| Consolidated volume 09/09/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/10/2026 at 1:30 PM
Live
Closed
PMIO | MMCA | |
|---|---|---|
| Last price | $49.46 | $20.98 |
| 1D performance | -0.59% | -0.72% |
| AuM | $51.25 M | $88.79 M |
| E/R | 0.25% | 0.7% |
Characteristics
PMIO | MMCA | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | PGIM | New York Life Investments |
| Benchmark | - | - |
| N° of holdings | 3899 | 35 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | June 28, 2024 | December 22, 2021 |
| ESG | No | No |
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Exposure
Countries
PMIO
USA
37.59%
Other
62.41%
MMCA
USA
33.52%
Other
66.48%
Sectors
PMIO
Municipal
35.68%
Other
64.32%
MMCA
Municipal
33.52%
Other
66.48%
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Diversification
PMIO
Total weight of top 15 holdings out of 15
29.74%
MMCA
Total weight of top 15 holdings out of 15
25.56%
Top 15 holdings
Data as of July 31, 2026
PMIO
Black Belt Energy Gas District, 5.5% 1jun2049, USD (2023)
2.50%
US34074HJC79
2.30%
Illinois Toll Highway Authority, 5% 1jan2045, USD
2.29%
US74442PB613
2.21%
Kentucky Public Energy Authority, 5.25% 1apr2054, USD (2023)
2.11%
County of Utah, 5% 15may2043, USD (2020A)
2.07%
New York Liberty Development Corp., 2.45% 15sep2069, USD (2019)
2.03%
US63607WBD56
1.91%
PGIM Core Government Money Market Fund
1.90%
US63607WBN39
1.84%
National Finance Authority, 6.5% 1dec2034, USD (2026)
1.81%
US63607DAB29
1.76%
US64985STJ23
1.68%
US924190WL18
1.68%
US92708HAQ74
1.66%
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%
Frequently asked questions about PMIO and MMCA
How have the PMIO and MMCA ETFs performed in 2026?
As of September 8, 2026, PMIO is up 0.9% year-to-date (YTD), while MMCA has lost -1.13%. That puts PMIO better performer ahead so far this year.
Which ETF is attracting more investor money: PMIO or MMCA?
Year-to-date, the PMIO ETF saw +$17M in flows, compared to +$23M for MMCA.
Which ETF is more volatile: PMIO or MMCA?
Over the past year, PMIO had a volatility of 1.95%, while MMCA experienced 2.25%.
Which ETF is bigger: PMIO or MMCA?
As of September 8, 2026, PMIO holds $51.25 M in assets under management (AUM), while MMCA manages $88.79 M.
What sectors do the PMIO and MMCA ETFs invest in?
PMIO leans toward sectors like Municipal. Meanwhile, MMCA focuses on Municipal.
What are the top holdings of the PMIO ETF and MMCA ETF?
PMIO top holdings include Black Belt Energy Gas District, 5.5% 1jun2049, USD (2023), US34074HJC79 and Illinois Toll Highway Authority, 5% 1jan2045, USD. MMCA holds in its top three: California Community Choice Financing Authority, 5% 1oct2034, USD (2026G), California Community Choice Financing Authority, 5.25% 1feb2036, USD (2026C) and US13013JCM62.
Which ETF is more diversified: PMIO or MMCA?
PMIO holds 6869 securities with 29.74% of its assets in the top 15. MMCA has 124 securities and a top 15 weight of 25.56%.
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