Which returned more over the last year, MMIT or MUNI?

In the year to Oct 28, 2026, with distributions reinvested, MMIT returned +0.4% and MUNI +0.1%.

Which is cheaper, MMIT or MUNI?

MMIT is cheaper, by 0.05 percentage points a year. That is about $5 on $10,000 held for a year. Fees come from each fund's prospectus.

Data as of Oct 28, 2026.

Across categories

MMIT vs MUNI: Differences, Returns & Fees

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MMIT's duration was 5.7 years on Jul 31, 2026 and MUNI's 4.5 on Jun 30, 2026; MMIT charges 0.30% to MUNI's 0.35%.

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Net assets: $1.5bn on Jul 31, 2026 for NYLIM MacKay Muni Intermediate ETF, and $3.1bn on Jun 30, 2026 for PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund.

MMIT on its own →MUNI on its own →

At a glance

+0.4%

MMIT total return, 1 year

+0.1%

MUNI total return, 1 year

0.30%

MMIT expense ratio

0.35%

MUNI expense ratio

Pair scorecard

MMIT costs 0.05 points a year less; their one-year returns differ by 0.3 points.

MMIT vs MUNI: Differences, Returns & Fees
Measure	MMIT	MUNI
Return
Measure	MMIT	MUNI
Total return, 1 year	+0.4%	+0.1%
Benchmark
Measure	MMIT	MUNI
What it tracks	No index, actively managed	No index, actively managed
Cost and size
Measure	MMIT	MUNI
Expense ratio	0.30%	0.35%
Net assets, MMIT as of Jul 31, 2026 and MUNI as of Jun 30, 2026	$1.5bn	$3.1bn
Holdings
Measure	MMIT	MUNI
Holdings in common	5%

Holdings in common uses holdings dated Jun 30, 2026 and Jul 31, 2026. Method

Risk and return

Oct 27, 2017 to Oct 23, 2026 · 469 weekly returns

MMIT MUNI

Return

Total return edge MMIT +23.5% +19.8%

Annualized edge MMIT +2.4% +2.0%

Price return edge MUNI −6.0% −5.3%

Risk

Volatility edge MUNI 5.5% 4.8%

Max drawdown edge MUNI (slight) −12.0% −10.9%

Risk-adjusted

Sharpe edge MMIT −0.04 −0.12

Sortino edge MMIT −0.05 −0.17

Calmar edge MMIT (slight) 0.20 0.19

Reading

MMIT returned more: +23.5% to +19.8%. MUNI swung less: 4.8% to 5.5%. MUNI fell slightly less at its worst: −10.9% to −12.0%.

Full scorecard

9 measures, with how each is measured Open ↓

Risk and return: MMIT vs MUNI: Differences, Returns & Fees
Measure	MMIT	MUNI	Edge	How it is measured
Return
Total return	+23.5%	+19.8%	MMIT	Price change plus distributions, reinvested.
Annualized	+2.4%	+2.0%	MMIT	Total return as a yearly rate.
Price return	−6.0%	−5.3%	MUNI	Price change alone, distributions left out.
Risk
Volatility	5.5%	4.8%	MUNI	Spread of weekly returns, annualized. Lower is steadier.
Downside deviation	4.0%	3.5%	MUNI	Like volatility, counting only weeks below the Treasury bill rate.
Max drawdown	−12.0%	−10.9%	MUNI (slight)	Deepest fall from a high to the low after it.
Risk-adjusted
Sharpe	−0.04	−0.12	MMIT	Return above Treasury bills per unit of volatility.
Sortino	−0.05	−0.17	MMIT	Return above Treasury bills per unit of downside deviation.
Calmar	0.20	0.19	MMIT (slight)	Annualized return divided by the max drawdown.

Computed by ETFIQ from Tiingo daily prices and ETFIQ's distribution records, 469 weekly returns. Cash rate: the 13-week Treasury bill.

What they share

By the books each fund has filed, MMIT and MUNI hold 5% of their money in the same securities at the same weight. Holdings dated Jun 30, 2026 and Jul 31, 2026.

50%

0 half 100%

half

5% in common

Positions both hold · largest shared weight first MMIT MUNI

NC CHAMED 01/15/2037, due Jan 15, 2037 0.34% 0.58%

WA WASHSG 11/20/2041, due Nov 20, 2041 0.38% 0.32%

NH NFADEV 11/20/2042, due Nov 20, 2042 0.42% 0.29%

NH NFADEV 02/20/2041, due Feb 20, 2041 0.34% 0.28%

TX TAREDU 11/15/2064, due Nov 15, 2064 0.45% 0.23%

TX TXSUTL 5 04/01/2036, due Apr 1, 2036 0.18% 0.80%

AL BBEUTL 02/01/2053, due Feb 1, 2053 0.29% 0.17%

MO MOSSFH 6 05/01/2056, due May 1, 2056 0.15% 0.25%

AL BBEUTL 5 11/01/2036, due Nov 1, 2036 0.14% 0.37%

PR PRCGEN 4.5 07/01/2034, due Jul 1, 2034 0.14% 0.28%

LA LASFAC 5 05/15/2030, due May 15, 2030 0.14% 0.15%

CA CCEDEV 01/01/2055, due Jan 1, 2055 0.18% 0.13%

Only in one fund ↓

Only in MMIT

NY GOBNYC 02/01/2055, due Feb 1, 2055 1.03%

PR PRCGEN 4.33 07/01/2040, due Jul 1, 2040 1.00%

CA LOSUTL 5 07/01/2041, due Jul 1, 2041 0.91%

MN MGAUTL 5 09/01/2035, due Sep 1, 2035 0.91%

NY HUYGEN 5 02/15/2042, due Feb 15, 2042 0.91%

PA PASSFH 3 10/01/2051, due Oct 1, 2051 0.87%

AL BBEUTL 10/01/2052, due Oct 1, 2052 0.63%

IL SPRPWR 5 03/01/2032, due Mar 1, 2032 0.62%

Only in MUNI

U.S. Treasury Notes, due Feb 29, 2028 2.20%

U.S. Treasury Notes, due Feb 28, 2031 1.78%

U.S. Treasury Notes, due Apr 30, 2031 1.16%

U.S. Treasury Notes, due Feb 28, 2031 0.86%

Puerto Rico Sales Tax Financing Corp. Sales Tax Revenue, due Jul 1, 2046 0.81%

Connecticut State Health & Educational Facilities Authority, due Jul 1, 2057 0.81%

Black Belt Energy Gas District, due Jan 1, 2034 0.81%

Fort Bend Independent School District, due Aug 1, 2055 0.79%

Check overlap with more funds →

Side by side

MMIT NYLIM MacKay Muni Intermediate ETF MUNI PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund

Where it sits Bond ETF Bond ETF

Issuer New York Life Investments PIMCO

What it is Actively managed Actively managed

Total return, 1 year +0.4% +0.1%

Expense ratio 0.30% 0.35%

Holdings 854 647

Net assets, MMIT as of Jul 31, 2026 and MUNI as of Jun 30, 2026 $1.5bn $3.1bn

MMIT and MUNI on the fields both publish, as of Oct 28, 2026. Source: ETFIQ.

Client brief · page 1 of 2 Report BR-5B817B3B86

MMIT and MUNI are built for the same job. How do they differ in cost, holdings and results?

Holdings in common. 5% of the weight is in the same securities (holdings dated Jul 31, 2026 and Jun 30, 2026).
What each follows (similar). Both follow No index, actively managed.
One-year total return (similar). Over 1 year to Oct 28, 2026 MMIT returned +0.4% and MUNI +0.1% with distributions reinvested, a gap of 0.3 points.

Data as of Oct 28, 2026.

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About each fund

MMIT

MMIT is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +0.4% with distributions reinvested. The prospectus expense ratio is 0.30% a year.

MUNI

MUNI is actively managed and tracks no index. Over the year to Oct 28, 2026 it returned +0.1% with distributions reinvested. The prospectus expense ratio is 0.35% a year.

Questions people ask

Which returned more over the last year, MMIT or MUNI?: In the year to Oct 28, 2026, with distributions reinvested, MMIT returned +0.4% and MUNI +0.1%.
Which is cheaper, MMIT or MUNI?: MMIT is cheaper, by 0.05 percentage points a year. That is about $5 on $10,000 held for a year. Fees come from each fund's prospectus.

Other comparisons

DFNM vs MMIT MMIT vs VTEI CGMU vs MMIT MMIT vs VSDM MUNI vs VSDM CGMU vs MUNI MUNI vs VTEI DFNM vs MUNI

Where to next

MMIT on its own →MUNI on its own →Hold both: look the portfolio through →Rankings →MMIT dividend history →MMIT holdings →MUNI dividend history →MUNI holdings →Standards and sources →

Sources and dates

MMIT filings on SEC EDGAR ↗

MMIT prospectus with the expense ratio (SEC) ↗

New York Life Investments website ↗

MUNI filings on SEC EDGAR ↗

MUNI prospectus with the expense ratio (SEC) ↗

PIMCO website ↗

Links are sources, not endorsements. A comparison is not a recommendation.

How this is computed

Overlap adds up the smaller of the two weights for each security both funds hold.

Cite this pageCitation, APA and Markdown

ETFIQ, MMIT against MUNI, data as of Oct 28, 2026. https://etfiq.com/compare/any/mmit-vs-muni

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Free to use with attribution for data ETFIQ computes; issuer data stays under its owner's terms.