TMNSvsMMITETF Comparison
VS
T. Rowe Price Short Municipal Income ETF (TMNS) and NYLI MacKay Muni Intermediate ETF (MMIT) belong to the same industry segment: Municipal Bonds. Both ETFs have the same top 1 sector exposures: Municipal. TMNS is less expensive with a Total Expense Ratio (TER) of 0.18%, versus 0.48% for MMIT. TMNS is up 1.25% year-to-date (YTD) with +$2M in YTD flows. MMIT performs worse with -0.16% YTD performance, and +$183M in YTD flows. Run a side-by-side ETF comparison of TMNS and MMIT 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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TMNS vs MMIT performance and flow charts
Performance
Cumulative Flows
Historic performance and flows
Data as of 09/01/2026
| 1M | 3M | YTD | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|---|---|
| Perf. | TMNS MMIT | +0.18%-0.56% | +0.18%-1.62% | +1.25%-0.16% | n/a+3.15% | n/a+10.41% | n/a+3.85% |
| Flows | TMNS MMIT | +$1M+$6M | +$2M+$31M | +$2M+$183M | -+$394M | -+$994M | -+$1.30B |
Volatility and drawdown
| 3M | 1Y | 3Y | 5Y | ||
|---|---|---|---|---|---|
| Volatility | TMNS MMIT | +1.12%+2.25% | n/a+2.10% | n/a+2.91% | n/a+2.94% |
| Max drawdown | TMNS MMIT | -0.76%-2.07% | n/a-2.49% | n/a-3.83% | n/a-11.87% |
| Max drawdown duration | TMNS MMIT | 57d58d | n/a185d | n/a178d | n/a997d |
Trading data
TMNS | MMIT | |
Last sale 9/3/2026 at 1:30 PM | $49.62 | $23.69 |
| Previous close 09/02/2026 | $49.67 | $23.72 |
| Consolidated volume 09/02/2026 | ||
| Average volume 30 days | ||
| Average discount or premium 30 days | ||
| Average Bid/Ask spread 30 days |
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Main metrics
Last update 9/3/2026 at 1:30 PM
Live
Closed
TMNS | MMIT | |
|---|---|---|
| Last price | $49.62 | $23.69 |
| 1D performance | -0.08% | -0.13% |
| AuM | $23.58 M | $1.45 B |
| E/R | 0.18% | 0.48% |
Characteristics
TMNS | MMIT | |
|---|---|---|
| Management strategy | Active | Active |
| Provider | T. Rowe Price | New York Life Investments |
| Benchmark | - | - |
| N° of holdings | 56 | 193 |
| Asset class | - | - |
| Trailing 12m distribution yield | Join | Join |
| Inception date | November 19, 2025 | October 18, 2017 |
| ESG | No | No |
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Exposure
Countries
TMNS
USA
31.14%
Other
68.86%
MMIT
USA
31.45%
Other
68.55%
Sectors
TMNS
Municipal
31.14%
Other
68.86%
MMIT
Municipal
31.45%
Other
68.55%
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Diversification
TMNS
Total weight of top 15 holdings out of 15
28.33%
MMIT
Total weight of top 15 holdings out of 15
10.56%
Top 15 holdings
Data as of July 31, 2026
TMNS
US425507GL89
3.14%
US23503CFK80
2.35%
US735240L842
2.25%
New York Housing Finance Agency, FRN 1may2049, USD
2.21%
US09182TCG04
1.98%
California Community Choice Financing Authority, 5.5% 1oct2054, USD (2023F)
1.93%
US650116DJ25
1.88%
US735389D620
1.77%
New York Mortgage Agency, 3.4% 1oct2030, USD
1.74%
Illinois Toll Highway Authority, 5% 1jan2031, USD
1.64%
US546068AZ00
1.63%
US64988YQ831
1.48%
US04052FDU66
1.46%
Puerto Rico, 5.75% 1jul2031, USD
1.45%
US187145WS29
1.43%
MMIT
City of New York, 5.125% 15nov2011, USD
1.03%
Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD
1.00%
Los Angeles Department of Water and Power, 5% 1jul2041, USD (2026)
0.91%
Minnesota Municipal Gas Energy, 5% 1sep2035, USD (2026A)
0.90%
Hudson Yards Infrastructure Corp., 5% 15feb2042, USD
0.90%
US70879QQA49
0.86%
Black Belt Energy Gas District, 4% 1oct2052, USD
0.63%
US850578UC77
0.62%
Chicago Board of Education, 6% 1apr2046, USD (2017)
0.59%
Phoenix Industrial Development Authority, 5% 31oct2044, USD (2024)
0.57%
US09182TFT97
0.56%
US74440DFC39
0.53%
US56035DJJ28
0.52%
Main Street Natural Gas Inc., 5% 1dec2052, USD (2022B)
0.47%
National Finance Authority, 4.25% 20jul2041, USD (2026-1, A-1)
0.47%
Frequently asked questions about TMNS and MMIT
How have the TMNS and MMIT ETFs performed in 2026?
As of September 1, 2026, TMNS is up 1.25% year-to-date (YTD), while MMIT has lost -0.16%. That puts TMNS better performer ahead so far this year.
Which ETF is attracting more investor money: TMNS or MMIT?
Year-to-date, the TMNS ETF saw +$2M in flows, compared to +$183M for MMIT.
Which ETF is bigger: TMNS or MMIT?
As of September 1, 2026, TMNS holds $23.58 M in assets under management (AUM), while MMIT manages $1.45 B.
What sectors do the TMNS and MMIT ETFs invest in?
TMNS leans toward sectors like Municipal. Meanwhile, MMIT focuses on Municipal.
What are the top holdings of the TMNS ETF and MMIT ETF?
TMNS top holdings include US425507GL89, US23503CFK80 and US735240L842. MMIT holds in its top three: City of New York, 5.125% 15nov2011, USD, Puerto Rico Sales Tax Financing Corp., 4.329% 1jul2040, USD and Los Angeles Department of Water and Power, 5% 1jul2041, USD (2026).
Which ETF is more diversified: TMNS or MMIT?
TMNS holds 183 securities with 28.33% of its assets in the top 15. MMIT has 854 securities and a top 15 weight of 10.56%.
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