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Trending ETFs

IQ MacKay Municipal Insured ETF

Active ETF
MMIN
Dividend policy
Active
Price as of:
$27.26 -0.03 -0.11%
primary theme
Municipal Bond
MMIN (ETF)

IQ MacKay Municipal Insured ETF

Dividend policy
Active
Price as of:
$27.26 -0.03 -0.11%
primary theme
Municipal Bond
MMIN (ETF)

IQ MacKay Municipal Insured ETF

Dividend policy
Active
Price as of:
$27.26 -0.03 -0.11%
primary theme
Municipal Bond

Name

Price

Aum/Mkt Cap

YIELD & DIV

Exp Ratio

Watchlist

$27.26

$492 M

1.75%

$0.48

0.31%

Vitals

YTD Return

-1.3%

1 yr return

2.7%

3 Yr Avg Return

6.0%

5 Yr Avg Return

N/A

Net Assets

$492 M

Holdings in Top 10

11.0%

52 WEEK LOW AND HIGH

$27.3
$27.04
$27.93

Expenses

OPERATING FEES

Expense Ratio 0.31%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover 71.00%

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund

Investment Style

Muni National Interm


Name

Price

Aum/Mkt Cap

YIELD & DIV

Exp Ratio

Watchlist

$27.26

$492 M

1.75%

$0.48

0.31%

MMIN - Profile

Distributions

  • YTD Total Return -1.2%
  • 3 Yr Annualized Total Return 6.0%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.40%
DIVIDENDS
  • Dividend Yield 1.8%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    IQ MacKay Municipal Insured ETF
  • Fund Family Name
    IndexIQ
  • Inception Date
    Oct 18, 2017
  • Shares Outstanding
    17950000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    John Lawlor

Fund Description

The fund is an actively managed ETF and thus does not seek to replicate the performance of a specific index. Instead, it uses an active management strategy to meet its investment objective. The fund, under normal circumstances, invests at least 80% of its assets (net assets plus borrowings for investment purposes) in: (i) debt securities whose interest is, in the opinion of bond counsel for the issuer at the time of issuance, exempt from federal Income tax ("Municipal Bonds"); and (ii) debt securities covered by an insurance policy guaranteeing the payment of principal and interest.


MMIN - Performance

Return Ranking - Trailing

Period MMIN Return Category Return Low Category Return High Rank in Category (%)
YTD -1.3% -88.5% 99.9% 60.27%
1 Yr 2.7% -20.5% 20.4% 51.06%
3 Yr 6.0%* -6.2% 10.4% 9.95%
5 Yr N/A* -3.5% 6.8% N/A
10 Yr N/A* -0.2% 8.7% N/A

* Annualized

Return Ranking - Calendar

Period MMIN Return Category Return Low Category Return High Rank in Category (%)
2020 5.1% -91.1% 310.0% 1.46%
2019 5.1% -79.8% 15.4% 13.90%
2018 -0.8% -72.6% 97.2% 10.64%
2017 N/A -100.0% 7.6% N/A
2016 N/A -35.9% 96.8% N/A

Total Return Ranking - Trailing

Period MMIN Return Category Return Low Category Return High Rank in Category (%)
YTD -1.2% -88.5% 100.0% 56.24%
1 Yr 2.7% -24.2% 24.2% 32.67%
3 Yr 6.0%* -7.0% 11.7% 9.48%
5 Yr N/A* -4.0% 6.8% N/A
10 Yr N/A* -0.6% 8.7% N/A

* Annualized

Total Return Ranking - Calendar

Period MMIN Return Category Return Low Category Return High Rank in Category (%)
2020 5.1% -91.1% 310.0% 1.46%
2019 5.1% -79.8% 15.4% 13.90%
2018 -0.8% -72.6% 11.0% 13.30%
2017 N/A -100.0% 7.6% N/A
2016 N/A -35.9% 3.0% N/A

MMIN - Holdings

Concentration Analysis

MMIN Category Low Category High MMIN % Rank
Net Assets 492 M 878 K 87.9 B 48.71%
Number of Holdings 652 1 12437 13.60%
Net Assets in Top 10 54.5 M -308 M 3.88 B 41.29%
Weighting of Top 10 11.02% 2.3% 100.0% 85.88%

Top 10 Holdings

  1. PUBLIC FIN AUTH WIS HOSP REV 0.08% 1.74%
  2. CONNECTICUT ST SPL TAX OBLIG REV 4% 1.71%
  3. CONNECTICUT ST SPL TAX OBLIG REV 4% 1.58%
  4. ALLEGHENY CNTY PA ARPT AUTH ARPT REV 4% 1.15%
  5. MILWAUKEE WIS 3% 1.15%
  6. HUDSON YDS INFRASTRUCTURE CORP N Y SECOND INDENTURE REV 4% 1.13%
  7. NEW HAVEN CONN 5% 1.04%
  8. WEST VIRGINIA ST HOSP FIN AUTH HOSP REV 4% 0.95%
  9. METROPOLITAN TRANSN AUTH N Y REV 4% 0.92%
  10. NEW BRITAIN CONN 3% 0.91%

Asset Allocation

Weighting Return Low Return High MMIN % Rank
Bonds
98.56% 46.14% 145.79% 62.94%
Cash
1.45% -45.79% 53.86% 35.76%
Stocks
0.00% -1.11% 3.02% 48.28%
Preferred Stocks
0.00% -3.40% 1.04% 44.86%
Other
0.00% -9.70% 30.00% 45.92%
Convertible Bonds
0.00% -0.02% 0.75% 45.64%

Bond Sector Breakdown

Weighting Return Low Return High MMIN % Rank
Municipal
98.55% 46.14% 100.00% 59.85%
Cash & Equivalents
1.45% 0.00% 53.86% 38.80%
Derivative
0.00% 0.00% 1.12% 45.64%
Securitized
0.00% 0.00% 8.03% 46.25%
Corporate
0.00% 0.00% 11.97% 54.49%
Government
0.00% 0.00% 50.79% 49.65%

Bond Geographic Breakdown

Weighting Return Low Return High MMIN % Rank
US
98.33% 0.00% 141.11% 42.93%
Non US
0.23% 0.00% 100.00% 54.85%

MMIN - Expenses

Operational Fees

MMIN Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.31% 0.04% 4.23% 74.51%
Management Fee 0.40% 0.00% 1.60% 38.95%
12b-1 Fee 0.00% 0.00% 1.00% 8.33%
Administrative Fee N/A 0.01% 0.47% N/A

Sales Fees

MMIN Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 5.75% N/A
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

MMIN Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

MMIN Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 71.00% 0.00% 314.00% 92.23%

MMIN - Distributions

Dividend Yield Analysis

MMIN Category Low Category High MMIN % Rank
Dividend Yield 1.75% 0.00% 35.27% 52.84%

Dividend Distribution Analysis

MMIN Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

MMIN Category Low Category High MMIN % Rank
Net Income Ratio 1.40% -0.53% 24.00% 82.82%

Capital Gain Distribution Analysis

MMIN Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Monthly Monthly

Dividend Payout History

View More +

MMIN - Fund Manager Analysis

Managers

John Lawlor


Start Date

Tenure

Tenure Rank

Oct 17, 2017

3.96

4.0%

John Lawlor joined MacKay Shields as a Director in 2016. Before joining the firm, he was a senior trader on the floor of the New York Stock Exchange. Mr. Lawlor has a broad and diverse set of skills in sales, trading and electronic trading platforms. He earned a Bachelor's degree in Finance from Lehigh University and has been in the financial services industry since 1997.

Michael Petty


Start Date

Tenure

Tenure Rank

Oct 17, 2017

3.96

4.0%

Mike joined MacKay Shields in July 2009. Before joining the firm he was a Portfolio Manager for Mariner Municipal Managers. He has been a municipal bond portfolio manager since 1992, and has worked in the municipal products market since 1985. Mike has a broad array of trading, portfolio management, and sales experience. Prior to joining Mariner Municipal Managers, he was a Senior Portfolio Manager at Dreyfus Corporation from 1997 to 2009. From 1992 to 1997, he served as a Portfolio Manager for Merrill Lynch Investment Managers. He is a member of the firm’s Management Committee. Mike graduated from Hobart College with a B.S. in Mathematics and Economics.

Scott Sprauer


Start Date

Tenure

Tenure Rank

Oct 17, 2017

3.96

4.0%

Scott joined MacKay Shields in 2009. Before joining the firm he was Head Trader, Fixed Income, at Financial Guaranty Insurance Company. Scott was previously with Dreyfus Corporation and Merrill Lynch Investment Managers as a Municipal Bond Portfolio Manager/Trader. He has a BSBA from Villanova University. Scott has been in the investment management industry since 1991.

David Dowden


Start Date

Tenure

Tenure Rank

Oct 17, 2017

3.96

4.0%

David joined MacKay Shields in 2009. Before joining the firm he was Chief Investment Officer at Financial Guaranty Insurance Company. David was previously with Alliance Capital Management as a Senior Portfolio Manager and at Merrill Lynch & Co. as a Municipal Strategist. David has an AB from Brown University and an MBA from Columbia University. He has been in the investment management industry since 1989.

Frances Lewis


Start Date

Tenure

Tenure Rank

Aug 29, 2018

3.09

3.1%

Frances Lewis joined MacKay Shields in July 2009 and is currently a Senior Managing Director. Ms. Lewis was the Director of Research for Mariner Municipal Managers and was previously at Merrill Lynch. Ms. Lewis began her municipal analyst career in 1991 as an Analyst for Merrill Lynch Investment Managers where she was a Senior Fund Analyst covering various sectors of the municipal market and becoming a Director in the Municipal Research Group in 1997. Ms. Lewis earned an MBA from Boston University and a BA from the University of Michigan.

Michael Denlinger


Start Date

Tenure

Tenure Rank

Aug 28, 2020

1.09

1.1%

Mr. Denlinger joined MacKay Shields in 2019 and is currently a Director. Prior to joining MacKay Shields, he was an institutional municipal credit trader at Bank of America Merrill Lynch with a primary focus on taxable and healthcare securities. Prior to trading credit, he was a high grade municipal trader. Mr. Denlinger earned a Bachelor’s degree in Economics from Johns Hopkins University in 2014. Mr. Denlinger is a CFA Charterholder and has been in the financial services industry since 2014.

Peter Bartlett


Start Date

Tenure

Tenure Rank

Aug 28, 2020

1.09

1.1%

Peter joined MacKay Shields in November 2019. He has been in the municipal bond industry for over four decades managing Citibank’s topranked Municipal bond department. His specific responsibilities included the management of trading, sales, research, derivatives and the bank’s municipal portfolio. Peter successfully ran the largest high yield position on Wall Street and was directly involved with banking and underwriting efforts of the firm. Peter is a graduate of Princeton University and resides in Los Angeles.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.06 36.52 7.21 0.91