IQ MacKay Municipal Intermediate ETF (MMIT) Performance
MMIT total return
Distributions reinvested · as of Oct 23, 2026- YTD
- −0.6% since Dec 31, 2025
- 1 year
- +0.0% total return
- 5 years
- +0.9% a year
- Since first price
- +2.3% a year since 2017
MMIT trailing returns vs SPY, QQQ, AGG
| Period | MMIT total return | Price only | S&P 500 (SPY) | Nasdaq-100 (QQQ) | U.S. bonds (AGG) |
|---|---|---|---|---|---|
| 1 month | +1.7% | +1.3% | −1.0% | −5.0% | +0.9% |
| 3 months | −0.8% | −1.7% | +3.2% | +1.9% | −0.4% |
| 6 months | −1.6% | −3.4% | +7.8% | +8.4% | −1.5% |
| YTD | −0.6% | −3.3% | +12.3% | +15.1% | −1.0% |
| 1 year | +0.0% | −3.5% | +14.4% | +15.9% | −1.1% |
| 3 years | +12.6%+4.0%/yr | +0.9% | +87.4%+23.3%/yr | +101.4%+26.3%/yr | +16.6%+5.2%/yr |
| 5 years | +4.4%+0.9%/yr | −11.5% | +79.3%+12.4%/yr | +94.0%+14.2%/yr | −0.8%−0.2%/yr |
| Since inceptionOct 18, 2017 | +23.3%+2.3%/yr | −6.1% | — | — | — |
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: MMIT vs SPY
From Oct 18, 2017: MMIT grew to $12,328, SPY to $34,110.
Year-end values with distributions reinvested, no taxes or trading costs. Start: first common trading day of both funds.
MMIT returns by calendar year
7 of 8 full years positive. Best 2019 (+7.5%), worst 2022 (−7.4%). 2026 is year to date.
MMIT annual returns table
| Year | MMIT | Largest drop | SPY | QQQ | AGG |
|---|---|---|---|---|---|
| 2026YTD | −0.6% | −6.0% | +12.3% | +15.1% | −1.0% |
| 2025 | +5.0% | −3.6% | +17.7% | +20.8% | +7.2% |
| 2024 | +1.5% | −2.0% | +24.9% | +25.6% | +1.3% |
| 2023 | +5.4% | −4.3% | +26.2% | +54.9% | +5.7% |
| 2022 | −7.4% | −11.9% | −18.2% | −32.6% | −13.0% |
| 2021 | +1.6% | −2.0% | +28.7% | +27.4% | −1.8% |
| 2020 | +6.2% | −10.6% | +18.3% | +48.6% | +7.5% |
| 2019 | +7.5% | −1.7% | +31.2% | +39.0% | +8.5% |
| 2018 | +2.6% | −1.2% | −4.6% | −0.1% | +0.1% |
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.
MMIT largest drawdowns
Now 2.7% below the high| Peak | Decline | Bottom | Recovered | Fall | Underwater |
|---|---|---|---|---|---|
| Jul 27, 2021 | −12.3% | Oct 25, 2022 | Sep 27, 2024 | 1.2 years | 3.2 years |
| Mar 9, 2020 | −10.6% | Mar 23, 2020 | Jul 20, 2020 | 14 days | 4 months |
Declines from a closing high (distributions reinvested) of 10% or more. Underwater = time from the peak until the old high was regained.
MMIT risk statistics
| Statistic | 3 years | 5 years | Since 2017 |
|---|---|---|---|
| Annualized return | +2.9% | +0.2% | +2.3% |
| Volatility (annualized) | 4.7% | 5.6% | 5.1% |
| Sharpe ratio | -0.30 | -0.58 | -0.03 |
| Sortino ratio | -0.39 | -0.74 | -0.05 |
| Best month | +4.3% | +4.6% | +4.6% |
| Worst month | −3.7% | −3.7% | −3.7% |
| Best 12 months | +8.7% | +8.7% | +11.6% |
| Worst 12 months | −2.1% | −10.9% | −10.9% |
| Positive months | 61% | 53% | 62% |
| Beta vs S&P 500 | 0.23 | 0.23 | — |
| Correlation with S&P 500 | 0.61 | 0.66 | — |
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.
MMIT rolling returns
| Holding period | Periods | Worst | Median | Best | Positive |
|---|---|---|---|---|---|
| 1-year | 87 | −10.9% | +3.4% | +11.6% | 82% |
| 3-year (a year) | 63 | −1.6% | +1.0% | +6.2% | 62% |
| 5-year (a year) | 39 | +0.2% | +1.3% | +2.5% | 100% |
Every holding period starting at a month-end since 2017. Returns for 3 years and longer are annualized.
MMIT performance overview
IQ MacKay Municipal Intermediate ETF (MMIT) returned +0.0% over the past year and +0.9% a year over five years, with distributions reinvested. Since its first recorded price in 2017 it has returned +2.3% a year, turning $10,000 into about $12,328. Over the same year S&P 500 (SPY) returned +14.4%.
The deepest decline was −12.3%, from Jul 27, 2021 to Oct 25, 2022, and it took 1.9 years to get back to the old high. MMIT finished 7 of its 8 full calendar years with a gain; the best year was 2019 (+7.5%) and the worst 2022 (−7.4%). Volatility has been 5.1% a year.
Related: MMIT chart, MMIT dividends. See the MMIT overview for the latest quote and fund facts.
MMIT performance FAQ
What is the MMIT return over the past year?
MMIT returned +0.0% over the 12 months to October 23, 2026, including reinvested distributions. On price alone it fell 3.5%.
What is the average annual return of MMIT?
MMIT has returned +0.9% a year over 5 years, +2.3% a year since October 18, 2017 (total return, distributions reinvested).
How much would $10,000 invested in MMIT be worth?
$10,000 invested in MMIT at its first recorded close on October 18, 2017 would be worth about $12,328 on October 23, 2026 with distributions reinvested.
What was the worst year for MMIT?
The worst calendar year was 2022, with a total return of −7.4%. The best was 2019 at +7.5%.
What is the biggest drawdown of MMIT?
The largest peak-to-trough decline was −12.3% between July 27, 2021 and October 25, 2022. It recovered to the old high on September 27, 2024, 1.9 years after the bottom.
How volatile is MMIT?
Over the past 3 years MMIT had an annualized volatility of 4.7% and a Sharpe ratio of -0.30 (excess return over 1–3 month T-bills per unit of risk).