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IQ MacKay Municipal Intermediate ETF

etf
MMIT
Dividend policy
Increase
Price as of:
$26.6 -0.04 0%
primary theme
Municipal Bond
MMIT (ETF)

IQ MacKay Municipal Intermediate ETF

Dividend policy
Increase
Price as of:
$26.6 -0.04 0%
primary theme
Municipal Bond
MMIT (ETF)
IQ MacKay Municipal Intermediate ETF
Dividend policy
Increase
Price as of:
$26.6 -0.04 0%
primary theme
Municipal Bond

MMIT - Snapshot

Vitals

  • YTD Return 2.9%
  • 3 Yr Annualized Return 4.8%
  • 5 Yr Annualized Return N/A
  • Net Assets $68.2 M
  • Holdings in Top 10 12.7%

52 WEEK LOW AND HIGH

$26.64
$23.81
$26.71

Expenses

OPERATING RELATED FEES

  • Expense Ratio 0.62%

SALES FEES

  • Front Load N/A
  • Deferred Load N/A

BROKERAGE FEES

  • Turnover 77.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) N/A
  • IRA N/A

Fund Classification

  • Primary Theme Municipal Bond
  • Fund Type Exchange Traded Fund
  • Investment Style Muni National Interm

Compare MMIT to Popular Municipal Bond Funds

Overview

Next Dividend

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

Dividend.com Ratings*

$14.80

+0.07%

$78.56 B

-

$0.00

blocked
blocked
blocked

2.28%

-

$11.24

0.00%

$32.48 B

-

$0.00

blocked
blocked
blocked

1.44%

-

$13.56

0.00%

$24.26 B

-

$0.00

blocked
blocked
blocked

1.73%

-

$15.94

0.00%

$20.00 B

-

$0.00

blocked
blocked
blocked

0.57%

-

$12.35

0.00%

$17.53 B

-

$0.00

blocked
blocked
blocked

2.15%

-

Compare MMIT to Popular Municipal Bond ETFs

Overview

Next Dividend

Income Profile

Income Risk

Returns Profile

Allocations

Expenses

About

Dividend.com Ratings*

$54.94

+0.07%

$10.00 B

2.04%

$1.12

blocked
blocked
blocked

2.56%

-

$49.86

0.00%

$4.28 B

1.24%

$0.62

blocked
blocked
blocked

1.41%

-

$52.43

+0.08%

$3.26 B

1.95%

$1.02

blocked
blocked
blocked

3.68%

-

$33.27

-0.09%

$2.10 B

3.06%

$1.01

blocked
blocked
blocked

5.05%

-

-

-

$1.71 B

-

$0.09

blocked
blocked
blocked

3.03%

-

MMIT - Profile

Distributions

  • YTD Total Return 2.9%
  • 3 Yr Annualized Total Return 4.8%
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio 2.02%
DIVIDENDS
  • Dividend Yield 3.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    IQ MacKay Municipal Intermediate ETF
  • Fund Family Name
    IndexIQ
  • Inception Date
    Oct 17, 2017
  • Shares Outstanding
    2600000
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    John Loffredo

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 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").


MMIT - Performance

Return Ranking - Trailing

Period MMIT Return Category Return Low Category Return High Rank in Category (%)
YTD 2.9% -4.4% 307.0% 5.02%
1 Yr 4.1% -5.4% 5.8% 2.97%
3 Yr 4.8%* -0.6% 8.2% 4.76%
5 Yr N/A* -0.3% 6.9% N/A
10 Yr N/A* -0.1% 8.1% N/A

* Annualized

Return Ranking - Calendar

Period MMIT Return Category Return Low Category Return High Rank in Category (%)
2019 3.2% -0.3% 15.4% 73.35%
2018 -0.1% -10.3% 97.2% 7.02%
2017 N/A -100.0% 7.6% N/A
2016 N/A -7.9% 96.8% N/A
2015 N/A -4.8% 3.0% N/A

Total Return Ranking - Trailing

Period MMIT Return Category Return Low Category Return High Rank in Category (%)
YTD 2.9% -4.4% 307.0% 4.62%
1 Yr 4.1% -8.3% 5.8% 2.51%
3 Yr 4.8%* -2.5% 8.2% 4.35%
5 Yr N/A* -1.5% 6.9% N/A
10 Yr N/A* -0.4% 8.1% N/A

* Annualized

Total Return Ranking - Calendar

Period MMIT Return Category Return Low Category Return High Rank in Category (%)
2019 3.2% -0.3% 15.4% 73.58%
2018 -0.1% -10.3% 11.0% 11.00%
2017 N/A -100.0% 7.6% N/A
2016 N/A -7.9% 3.0% N/A
2015 N/A -4.8% 4.0% N/A

MMIT - Holdings

Concentration Analysis

MMIT Category Low Category High MMIT % Rank
Net Assets 68.2 M 611 K 78.6 B 90.02%
Number of Holdings 164 1 10805 64.88%
Net Assets in Top 10 8.74 M -199 M 3.97 B 92.00%
Weighting of Top 10 12.74% 2.5% 100.0% 75.20%

Top 10 Holdings

  1. NEW JERSEY ST TPK AUTH TPK REV 0.8% 1.46%
  2. WILL CNTY ILL SCH DIST NO 114 MANHATTAN 3.5% 1.32%
  3. NEWARK N J 5% 1.20%
  4. ILLINOIS ST 5% 1.18%
  5. NEW BRITAIN CONN 5.25% 1.12%
  6. BIRMINGHAM ALA ARPT AUTH ARPT REV 5% 1.11%
  7. PORT NEW ORLEANS LA BRD COMMRSPORT FAC REV 5% 1.08%
  8. NEW HAMPSHIRE ST BUSINESS FIN AUTH WTR FAC REV 4% 1.08%
  9. Ripon Calif Redev Agy Successo Ref Bds 4% 1.07%
  10. OXNARD CALIF WTR REV 5% 1.06%

Asset Allocation

Weighting Return Low Return High MMIT % Rank
Bonds
97.73% 0.00% 147.66% 65.52%
Cash
2.27% -47.66% 100.00% 33.82%
Stocks
0.00% 0.00% 1.80% 98.25%
Preferred Stocks
0.00% -0.98% 1.07% 99.10%
Other
0.00% -1.46% 12.83% 98.65%
Convertible Bonds
0.00% 0.00% 1.64% 99.44%

Bond Sector Breakdown

Weighting Return Low Return High MMIT % Rank
Municipal
97.73% 0.00% 100.00% 62.85%
Cash & Equivalents
2.27% 0.00% 100.00% 34.72%
Derivative
0.00% 0.00% 2.16% 99.44%
Securitized
0.00% 0.00% 6.06% 99.44%
Corporate
0.00% 0.00% 12.97% 99.44%
Government
0.00% 0.00% 49.72% 99.44%

Bond Geographic Breakdown

Weighting Return Low Return High MMIT % Rank
US
96.06% 0.00% 141.34% 59.70%
Non US
1.67% 0.00% 27.82% 37.37%

MMIT - Expenses

Operational Fees

MMIT Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.62% 0.01% 4.23% 68.93%
Management Fee 0.40% 0.00% 1.10% 40.06%
12b-1 Fee 0.00% 0.00% 1.00% 17.78%
Administrative Fee N/A 0.01% 0.47% N/A

Sales Fees

MMIT Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 5.75% N/A
Deferred Load N/A 0.25% 5.50% N/A

Trading Fees

MMIT Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 2.00% 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.

MMIT Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 77.00% 0.00% 233.00% 93.30%

MMIT - Distributions

Dividend Yield Analysis

MMIT Category Low Category High MMIT % Rank
Dividend Yield 3.55% 0.00% 3.55% 0.06%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

MMIT Category Low Category High MMIT % Rank
Net Income Ratio 2.02% 0.00% 6.48% 71.49%

Capital Gain Distribution Analysis

MMIT Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually

Dividend Payout History

View More +

MMIT - Fund Manager Analysis

Managers

John Loffredo


Start Date

Tenure

Tenure Rank

Oct 17, 2017

3.04

3.0%

John joined MacKay Shields in July 2009 when the firm acquired the assets of Mariner Municipal Managers LLC. He was the Chairman and co-founder of Mariner Municipal Managers from 2007 to 2009. He has been a municipal portfolio manager and/or municipal analyst since 1990, with a broad range of portfolio management and analytic experience in the municipal markets. John was a Managing Director and Co-Head of BlackRock’s Municipal Portfolio Management Group (from 2006 to 2007). Prior to BlackRock’s merger with Merrill Lynch Investment Managers (MLIM), he served as Chief Investment Officer of the Municipal Products Group. He was employed by Merrill Lynch from 1990 to 2006. Before Merrill Lynch, he worked for the City of Boston Treasury Department. John is a member of the firm’s Senior Leadership Team. He graduated with an MBA and Certificate of Public Management from Boston University and with a Bachelors degree in Finance, cum laude, from Utah State University where he was a Harry S. Truman Scholar. He is a CFA Charterholder.

Scott Sprauer


Start Date

Tenure

Tenure Rank

Oct 17, 2017

3.04

3.0%

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

3.04

3.0%

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.

Robert DiMella


Start Date

Tenure

Tenure Rank

Oct 17, 2017

3.04

3.0%

Robert joined MacKay Shields in July 2009 when the firm acquired the assets of Mariner Municipal Managers LLC. He was the President and co-founder of Mariner Municipal Managers from 2007 to 2009. He has been a municipal portfolio manager since 1992, with a broad range of trading and portfolio management experience in the municipal markets. Robert was a Managing Director and Co-Head of BlackRock’s Municipal Portfolio Management Group (from 2006 to 2007). Prior to BlackRock’s merger with Merrill Lynch Investment Managers, he served as a Senior Portfolio Manager and Managing Director of the Municipal Products Group. He was employed by Merrill Lynch from 1993 to 2006. Robert is a member of the firm’s Senior Leadership Team. He earned his Master’s degree at Rutgers University Business School and an undergraduate degree at the University of Connecticut. He is a CFA Charterholder.

John Lawlor


Start Date

Tenure

Tenure Rank

Oct 17, 2017

3.04

3.0%

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

3.04

3.0%

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.

Frances Lewis


Start Date

Tenure

Tenure Rank

Aug 29, 2018

2.18

2.2%

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.

Peter Bartlett


Start Date

Tenure

Tenure Rank

Aug 28, 2020

0.18

0.2%

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.

Michael Denlinger


Start Date

Tenure

Tenure Rank

Aug 28, 2020

0.18

0.2%

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.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.02 35.61 7.61 2.84

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