MMSD ETF — NYLI MacKay Muni Short Duration ETF

NYLI MacKay Muni Short Duration ETF (MMSD)

Updated October 8, 2026.

MMSD is an ETF. its distribution rate is 3.59%, its trailing-12-month yield is 3.62%, its expense ratio is 0.25%. Dividend Vision Distribution Safety Score™ is 93/100 (Safe). Total return is 3.7% over the past 1.4 years, 37.1 points behind SPY at 40.8%.

At the current 3.59% distribution rate, a $10,000 investment would generate approximately $359 per year, or $29.92 per month.

This ETF invests at least 80% of its assets in municipal debt securities, focusing on shorter-duration bonds whose interest is generally exempt from federal income tax. The fund distributes monthly and carries a modest expense ratio of 0.25%. It appeals primarily to income-focused investors seeking tax-advantaged fixed income in a relatively liquid, actively managed vehicle.

MMSD performance versus SPY

Price and return data through 2026-10-08.

Total return is 3.7% over the past 1.4 years, 37.1 points behind SPY at 40.8%. Its deepest 1-year drawdown was 2.4%.

MMSD key facts

Distribution Safety Score™

93 · Safe

Safety-Adjusted Yield

3.34%

Issuer

New York Life Investments

Asset type

ETF

Asset class

Fixed Income

Inception date

05/05/2025

Expense ratio

0.25%

Distribution rate

3.59%

Distribution frequency

Monthly

Trailing yield

3.62%

Last close

$24.72 (as of 2026-10-08)

AUM

$82,178,452

Average volume

31832.0

Last dividend

$0.074

Last ex-dividend date

09/30/2026

Last payment date

10/02/2026

Beta

0.0341

How Dividend Vision calculates yield and returns

Distribution rate (3.59%) is the latest regular payout annualized by the fund's stated frequency, divided by the last close. Issuers often publish this as “Distribution Rate” on the fact sheet. Trailing-12-month yield (3.62%) is the sum of distributions paid in the last 12 months, split-adjusted, divided by the last close. It lags a recent raise or cut. Total return uses split-adjusted close with distributions reinvested on the ex-dividend date (a modeling convention, not the cash-settlement date) from the first stored bar on or after inception through the latest bar, compared with the same window on the benchmark. That is the security's total return, not your personal gain/loss.

Yield and safety methodology · Distribution rate methodology · Distribution Safety Score methodology

Sources and review

Primary sources: New York Life Investments; prices and distributions from Dividend Vision, derived from vendor EOD data.

Reviewed by Bert Sweet, CEO and Co-owner of Dividend Vision. Methodology: Distribution Safety Score.

MMSD risks and drawbacks

MMSD's current distribution rate is moderate, not a high-yield payout — the strategy is dividend quality more than maximum income. Total return has trailed SPY over the available window. The deepest 1-year drawdown on record here is 2.4%.

Who may consider MMSD — and who may not

MMSD may suit someone looking for a high Distribution Safety Score, moderate current income with a quality tilt. It is a weaker fit for investors hunting double-digit covered-call yields; investors whose main goal is matching SPY total return. This is educational context, not a recommendation to buy or sell.

Frequently asked questions

More securities from New York Life Investments.