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MMSD ETF — NYLI MacKay Muni Short Duration ETF
NYLI MacKay Muni Short Duration ETF (MMSD)
Updated October 16, 2026.
Verdict as of October 16, 2026
MMSD's distribution is rated safe by the Dividend Vision Distribution Safety Score™ (94/100, high confidence). It pays monthly and its distribution rate is 3.56%. The latest total cash payment per current share, $0.074 with an ex-date of September 30, 2026, was 1.4% higher than the previous $0.073. These payments are unclassified; this does not establish a base-dividend change.
Sources: New York Life Investments, Section 19a-1 notices, scoring methodology.
MMSD is an ETF. its distribution rate is 3.56%, its trailing-12-month yield is 3.59%, its expense ratio is 0.25%. Dividend Vision Distribution Safety Score™ is 94/100 (Safe). Total return is 4.5% over the past 1.4 years, 34.4 points behind SPY at 38.9%.
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 dividend yield and income
Price as of 2026-10-16.
The distribution rate (3.56%) uses calculation basis unavailable. Trailing-12-month yield (3.59%) is the last year of cash distributions by ex-date divided by the current price. The dividend amount is $0.074. The ex-dividend date is 09/30/2026. The payment date is 10/02/2026.
| Ex-date | Amount | Change from previous payment |
|---|---|---|
| 2026-09-30 | $0.074 | 1.4% Unclassified cash |
| 2026-08-31 | $0.073 | -1.4% Unclassified cash |
| 2026-07-31 | $0.074 | 2.8% Unclassified cash |
| 2026-06-30 | $0.072 | -5.3% Unclassified cash |
| 2026-05-29 | $0.076 | 4.1% Unclassified cash |
| 2026-04-30 | $0.073 | -6.4% Unclassified cash |
| 2026-03-31 | $0.078 | 11.4% Unclassified cash |
| 2026-02-27 | $0.07 | -7.9% Unclassified cash |
| 2026-01-30 | $0.076 | -23.2% Unclassified cash |
| 2025-12-30 | $0.099 | 39.4% Unclassified cash |
| 2025-12-01 | $0.071 | 20.3% Unclassified cash |
| 2025-11-03 | $0.059 | -19.2% Unclassified cash |
| 2025-10-01 | $0.073 | -5.2% Unclassified cash |
| 2025-09-02 | $0.077 | 0.0% Unclassified cash |
| 2025-08-01 | $0.077 | 2.7% Unclassified cash |
| 2025-07-01 | $0.075 | 38.9% Unclassified cash |
| 2025-06-02 | $0.054 | — |
| 2025 total (partial launch year) | $0.585 | — |
| 2026 YTD total | $0.666 | — |
MMSD holdings and sector exposure
Holdings are not available for this snapshot.
MMSD performance versus SPY
Price and return data through 2026-10-16.
Total return is 4.5% over the past 1.4 years, 34.4 points behind SPY at 38.9%. Its deepest 1-year drawdown was 2.4%.
| Window | Total return | CAGR |
|---|---|---|
| 1M | 0.1% | — |
| 3M | -0.5% | — |
| 6M | 0.0% | — |
| YTD | 0.9% | — |
| 1Y | 1.4% | — |
| Since inception (1.4 years) | 4.5% | 3.10% |
MMSD key facts
- Distribution Safety Score™
- 94 · Safe
- Safety-Adjusted Yield
- 3.35%
- Issuer
- New York Life Investments
- Asset type
- ETF
- Asset class
- Fixed Income
- Inception date
- 05/05/2025
- Expense ratio
- 0.25%
- Distribution rate
- 3.56%
- Distribution frequency
- Monthly
- Trailing yield
- 3.59%
- Last close
- $24.93 (as of 2026-10-16)
- AUM
- $82,039,133
- Average volume
- 2214.0
- Dividend
- $0.074
- Ex-dividend date
- 09/30/2026
- Payment date
- 10/02/2026
- Beta
- 0.0341
How Dividend Vision calculates yield and returns
Distribution rate (3.56%) uses calculation basis unavailable. Issuer rates can use a different denominator and date, including ex-date NAV. Trailing-12-month yield (3.59%) is the sum of split-adjusted cash distributions with ex-dates in the last 12 months, divided by the published price. 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.
More on MMSD
Frequently asked questions
Does MMSD pay monthly?
Yes. MMSD currently pays monthly.
What is MMSD's expense ratio?
MMSD's expense ratio is 0.25%.
What is MMSD's dividend yield?
MMSD's distribution rate is 3.56%, paid monthly, with a 0.25% expense ratio — calculation basis unavailable.
When does MMSD pay a dividend?
MMSD pays monthly. The dividend amount is $0.074. The ex-dividend date is 09/30/2026. The payment date is 10/02/2026.
How has MMSD performed?
Total return is 4.5% over the past 1.4 years, 34.4 points behind SPY at 38.9%. Its deepest 1-year drawdown was 2.4%.
Is MMSD a good investment?
MMSD's Dividend Vision Distribution Safety Score is 94 (Safe). That is a risk signal, not investment advice. Its distribution rate is 3.56% (calculation basis unavailable). Compare peers below rather than treating any single figure as a buy or sell.
More securities from New York Life Investments.
Tickers
Holdings as-of date unavailable.
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