TAXFvsMMCAETF Comparison
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American Century Diversified Municipal Bond ETF (TAXF) 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. TAXF is less expensive with a Total Expense Ratio (TER) of 0.25%, versus 0.7% for MMCA. TAXF is up 0.1% year-to-date (YTD) with +$143M in YTD flows. MMCA performs better with 0.23% YTD performance, and +$23M in YTD flows. Run a side-by-side ETF comparison of TAXF 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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TAXF vs MMCA performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TAXF MMCA | -0.79%+0.39% | -1.55%-0.30% | +0.10%+0.23% | +4.52%+3.47% | +11.22%+12.37% | +3.20%n/a |
| Flows | TAXF MMCA | +$5M+$1M | +$38M+$4M | +$143M+$23M | +$193M+$59M | +$348M+$58M | +$554M- |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TAXF MMCA | +2.75%+2.40% | +2.59%+2.21% | +3.77%+2.93% | +3.72%n/a |
| Max drawdown | TAXF MMCA | -2.50%-2.04% | -2.70%-2.77% | -5.30%-3.70% | -13.26%n/a |
| Max drawdown duration | TAXF MMCA | 58d52d | 114d179d | 275d151d | 1001dn/a |
Trading data
TAXF | MMCA | |
Last sale 9/2/2026 at 1:30 PM | $49.31 | $21.27 |
| Previous close 09/01/2026 | $49.33 | $21.25 |
| Consolidated volume 09/01/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/2/2026 at 1:30 PM
Live
Closed
TAXF | MMCA | |
|---|---|---|
| Last price | $49.31 | $21.27 |
| 1D performance | -0.05% | +0.09% |
| AuM | $680.13 M | $90.02 M |
| E/R | 0.25% | 0.7% |
Characteristics
TAXF | MMCA | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | American Century Investments | New York Life Investments |
| Benchmark | - | - |
| N° of holdings | 253 | 35 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | September 10, 2018 | December 22, 2021 |
| ESG | No | No |
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Exposure
Countries
TAXF
USA
37.04%
Other
62.96%
MMCA
USA
33.52%
Other
66.48%
Sectors
TAXF
Municipal
37.04%
Other
62.96%
MMCA
Municipal
33.52%
Other
66.48%
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Diversification
TAXF
Total weight of top 15 holdings out of 15
8.47%
MMCA
Total weight of top 15 holdings out of 15
25.56%
Top 15 holdings
Data as of July 31, 2026
TAXF
US74442PN840
0.89%
Build NYC Resource Corp., 5.25% 15dec2031, USD (2026B-3)
0.87%
Arkansas Development Finance Authority, 4% 1sep2046, USD (2026A)
0.73%
US60637GRY79
0.65%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
0.57%
US646080ZU81
0.57%
US452252RA98
0.55%
Southeast Alabama Gas Supply District, FRN 1aug2054, USD (A)
0.54%
Black Belt Energy Gas District, 5% 1oct2035, USD (2025)
0.54%
US681725PH47
0.47%
Orlando Utilities Commission, 5% 1oct2048, USD (2023A)
0.46%
US74439YBD22
0.44%
US292723AY90
0.42%
Patriots Energy Group Financing Agency, 5.25% 1oct2054, USD (2023A-1)
0.40%
New York Transitional Finance Authority, 5.5% 1nov2054, USD (2026)
0.39%
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 TAXF and MMCA
How have the TAXF and MMCA ETFs performed in 2026?
As of September 1, 2026, TAXF is up 0.1% year-to-date (YTD), while MMCA has returned 0.23%. That puts MMCA better performer ahead so far this year.
Which ETF is attracting more investor money: TAXF or MMCA?
Year-to-date, the TAXF ETF saw +$143M in flows, compared to +$23M for MMCA.
Which ETF is more volatile: TAXF or MMCA?
Over the past year, TAXF had a volatility of 2.59%, while MMCA experienced 2.21%.
Which ETF is bigger: TAXF or MMCA?
As of September 1, 2026, TAXF holds $680.13 M in assets under management (AUM), while MMCA manages $90.02 M.
What sectors do the TAXF and MMCA ETFs invest in?
TAXF leans toward sectors like Municipal. Meanwhile, MMCA focuses on Municipal.
What are the top holdings of the TAXF ETF and MMCA ETF?
TAXF top holdings include US74442PN840, Build NYC Resource Corp., 5.25% 15dec2031, USD (2026B-3) and Arkansas Development Finance Authority, 4% 1sep2046, USD (2026A). 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: TAXF or MMCA?
TAXF holds 785 securities with 8.47% of its assets in the top 15. MMCA has 124 securities and a top 15 weight of 25.56%.
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