NYLI MacKay California Muni Intermediate ETF (MMCA) Performance
MMCA total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −1.2% since Dec 31, 2025
- 1 year
- −0.6% total return
- 3 years
- +4.4% a year
- Since first price
- −0.3% a year since 2021
MMCA trailing returns vs AGG, TLT, SPY
| Period | MMCA total return | Price only | U.S. bonds (AGG) | 20+ yr Treasuries (TLT) | S&P 500 (SPY) |
|---|---|---|---|---|---|
| 1 month | +1.8% | +1.5% | +0.9% | +1.5% | −1.0% |
| 3 months | −0.6% | −1.4% | −0.4% | −1.0% | +3.2% |
| 6 months | −2.0% | −3.6% | −1.5% | −3.8% | +7.8% |
| YTD | −1.2% | −3.6% | −1.0% | −3.4% | +12.3% |
| 1 year | −0.6% | −3.8% | −1.1% | −6.9% | +14.4% |
| 3 years | +13.7%+4.4%/yr | +2.3% | +16.6%+5.2%/yr | +9.7%+3.1%/yr | +87.4%+23.3%/yr |
| Since inceptionDec 21, 2021 | −1.3%−0.3%/yr | −15.9% | — | — | — |
Total return from adjusted closes (distributions reinvested, before tax). Periods of 3 years or more are also shown annualized. Price only excludes distributions.
Growth of $10,000: MMCA vs AGG
From Dec 21, 2021: MMCA grew to $9,874, AGG to $9,870.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
MMCA returns by calendar year
3 of 4 full years positive. Best 2023 (+5.8%), worst 2022 (−12.2%). 2026 is year to date.
MMCA annual returns table
| Year | MMCA | Largest drop | AGG | TLT | SPY |
|---|---|---|---|---|---|
| 2026YTD | −1.2% | −6.6% | −1.0% | −3.4% | +12.3% |
| 2025 | +5.7% | −3.4% | +7.2% | +4.3% | +17.7% |
| 2024 | +1.7% | −2.1% | +1.3% | −8.1% | +24.9% |
| 2023 | +5.8% | −4.2% | +5.7% | +2.8% | +26.2% |
| 2022 | −12.2% | −15.9% | −13.0% | −31.2% | −18.2% |
Largest drop = deepest fall from a high within that calendar year.
Calendar-year return vs largest drop within the year
Most years include a sizable fall at some point even when the year ends higher.
MMCA largest drawdowns
Now 3.4% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Dec 22, 2021 | −16.0% | Oct 27, 2022 | Jan 5, 2026 | 10 months | 4.0 years |
| Feb 27, 2026 | −6.6% | Sep 29, 2026 | not yet | 7 months | 8 months so far |
Declines from a closing high (distributions reinvested) of 5% or more. Underwater = time from the peak until the old high was regained.
MMCA risk statistics
| Statistic | 3 years | Since 2021 |
|---|---|---|
| Annualized return | +3.1% | −0.8% |
| Volatility (annualized) | 4.9% | 6.5% |
| Sharpe ratio | -0.24 | -0.69 |
| Sortino ratio | -0.31 | -0.83 |
| Best month | +4.6% | +4.6% |
| Worst month | −3.7% | −4.7% |
| Best 12 months | +9.0% | +9.0% |
| Worst 12 months | −2.5% | −12.2% |
| Positive months | 67% | 56% |
| Beta vs S&P 500 | 0.24 | — |
| Correlation with S&P 500 | 0.61 | — |
From monthly total returns. Sharpe and Sortino use 1–3 month T-bills (BIL) as the risk-free rate, so they need history from 2007 on.
MMCA rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 47 | −12.2% | +3.2% | +9.0% | 83% |
| 3-year (a year) | 23 | −1.9% | +3.5% | +5.6% | 91% |
Every holding period starting at a month-end since 2021. Returns for 3 years and longer are annualized.
MMCA performance overview
NYLI MacKay California Muni Intermediate ETF (MMCA) returned −0.6% over the past year, with distributions reinvested. Since its first recorded price in 2021 it has returned −0.3% a year, turning $10,000 into about $9,874. Over the same year U.S. bonds (AGG) returned −1.1%.
The deepest decline was −16.0%, from Dec 22, 2021 to Oct 27, 2022, and it took 3.2 years to get back to the old high. MMCA finished 3 of its 4 full calendar years with a gain; the best year was 2023 (+5.8%) and the worst 2022 (−12.2%). Volatility has been 6.5% a year.
Related: MMCA chart, MMCA holdings, MMCA dividends, MMCA bond profile. See the MMCA overview for the latest quote and fund facts.
MMCA performance FAQ
What is the MMCA return over the past year?
MMCA returned −0.6% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 3.8%.
How much would $10,000 invested in MMCA be worth?
$10,000 invested in MMCA at its first recorded close on December 21, 2021 would be worth about $9,874 on October 23, 2026 with distributions reinvested.
What was the worst year for MMCA?
The worst calendar year was 2022, with a total return of −12.2%. The best was 2023 at +5.8%.
What is the biggest drawdown of MMCA?
The largest peak-to-trough decline was −16.0% between December 22, 2021 and October 27, 2022. It recovered to the old high on January 5, 2026, 3.2 years after the bottom.
How volatile is MMCA?
Over the past 3 years MMCA had an annualized volatility of 4.9% and a Sharpe ratio of -0.24 (excess return over 1–3 month T-bills per unit of risk).