TAXEvsMMCAETF Comparison
VS
T. Rowe Price Intermediate Municipal Income ETF (TAXE) and NYLI MacKay California Muni Intermediate ETF (MMCA) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. TAXE is less expensive with a Total Expense Ratio (TER) of 0.24%, versus 0.7% for MMCA. TAXE is down -0.97% year-to-date (YTD) with +$256M in YTD flows. MMCA performs worse with -2.63% YTD performance, and +$33M in YTD flows. Run a side-by-side ETF comparison of TAXE 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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TAXE vs MMCA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 10/16/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAXE MMCA | +0.07%-0.54% | -2.52%-3.23% | -0.97%-2.63% | -0.14%-1.98% | n/a+11.94% | n/an/a |
| Flows | TAXE MMCA | +$154M+$9M | +$188M+$11M | +$256M+$33M | +$276M+$42M | -+$67M | -- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAXE MMCA | +4.49%+4.77% | +2.78%+2.98% | n/a+3.11% | n/an/a |
| Max drawdown | TAXE MMCA | -4.92%-5.42% | -5.51%-6.73% | n/a-6.73% | n/an/a |
| Max drawdown duration | TAXE MMCA | 92d67d | 102d232d | n/a232d | n/an/a |
Trading data
TAXE | MMCA | |
Last sale 10/20/2026 at 1:30 PM | $49.24 | $20.77 |
| Previous close 10/19/2026 | $49.22 | $20.78 |
| Consolidated volume 10/19/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 10/20/2026 at 1:30 PM
Live
Closed
TAXE | MMCA | |
|---|---|---|
| Last price | $49.24 | $20.77 |
| 1D performance | +0.04% | -0.05% |
| AuM | $359.97 M | $97.56 M |
| E/R | 0.24% | 0.7% |
Characteristics
TAXE | MMCA | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | T. Rowe Price | New York Life Investments |
| Benchmark | - | - |
| N° of holdings | 169 | 33 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | July 10, 2024 | December 22, 2021 |
| ESG | No | No |
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Exposure
Countries
TAXE
USA
36.28%
Other
63.72%
MMCA
USA
31.29%
Other
68.71%
Sectors
TAXE
Municipal
36.28%
Other
63.72%
MMCA
Municipal
31.29%
Other
68.71%
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Diversification
TAXE
Total weight of top 15 holdings out of 15
11.04%
MMCA
Total weight of top 15 holdings out of 15
26.09%
Top 15 holdings
Data as of August 31, 2026
TAXE
New York Municipal Water Finance Authority, FRN 15jun2053, USD (2023)
1.63%
Puerto Rico, 5.75% 1jul2031, USD
0.87%
Michigan Finance Authority, 5% 15aug2055, USD (2025B-1)
0.85%
US249182LT15
0.75%
Denver, 5% 1dec2029, USD (2018A)
0.74%
US899530AY53
0.74%
US736754TT94
0.71%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
0.68%
Colorado, 6% 15dec2041, USD (2022)
0.67%
US040507QB45
0.59%
Puerto Rico Sales Tax Financing Corp., 4.55% 1jul2040, USD
0.58%
South Carolina Jobs-Economic Development Authority, 5% 1may2043, USD (2018A)
0.56%
US92812XXT44
0.56%
US64972JNL88
0.56%
Black Belt Energy Gas District, 5% 1nov2036, USD (2026)
0.55%
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%
Frequently asked questions about TAXE and MMCA
How have the TAXE and MMCA ETFs performed in 2026?
As of October 16, 2026, TAXE is down -0.97% year-to-date (YTD), while MMCA has lost -2.63%. That puts TAXE better performer ahead so far this year.
Which ETF is attracting more investor money: TAXE or MMCA?
Year-to-date, the TAXE ETF saw +$256M in flows, compared to +$33M for MMCA.
Which ETF is more volatile: TAXE or MMCA?
Over the past year, TAXE had a volatility of 2.78%, while MMCA experienced 2.98%.
Which ETF is bigger: TAXE or MMCA?
As of October 16, 2026, TAXE holds $359.97 M in assets under management (AUM), while MMCA manages $97.56 M.
What sectors do the TAXE and MMCA ETFs invest in?
TAXE leans toward sectors like Municipal. Meanwhile, MMCA focuses on Municipal.
What are the top holdings of the TAXE ETF and MMCA ETF?
TAXE top holdings include New York Municipal Water Finance Authority, FRN 15jun2053, USD (2023), Puerto Rico, 5.75% 1jul2031, USD and Michigan Finance Authority, 5% 15aug2055, USD (2025B-1). 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: TAXE or MMCA?
TAXE holds 612 securities with 11.04% of its assets in the top 15. MMCA has 120 securities and a top 15 weight of 26.09%.
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