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- Upturn Summary
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Upturn AI Summary
IQ MacKay Municipal Intermediate ETF(MMIT)
Advisory History & Simulated Performance *
*as per simulation (see disclosures)- ALL
- 1Y
- 1M
- 1W
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- PASS (Skip)
Stock price based on last close Advisory Performance History (Simulated)
Upturn Advisory & Investor View for MMIT
11/06/2026: MMIT (2-star) has a low Upturn Star Rating. Not recommended to BUY.
MMIT provides exposure to investment-grade, intermediate-term municipal bonds through an active management strategy. By leveraging the expertise of MacKay Shields, the fund seeks to optimize credit selection and duration compared to passive index alternatives. Its primary strength lies in its potential to provide reliable, tax-exempt income, making it a strong choice for conservative investors in higher tax brackets. The most significant risks include interest rate sensitivity and potential liquidity constraints inherent in the municipal market. Investors should monitor both the fund's management performance versus its benchmark and general economic trends in state and local fiscal health.
How to Read the Upturn Advisory
The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.
ETF holdings, costs, diversification, valuation, risks, and market conditions provide supporting context about the fund.
Investor Fit
| Investor style | Fit | Why |
|---|---|---|
| Growth investor | Weak fit | This fund focuses on capital preservation and income rather than aggressive capital appreciation. |
| Momentum investor | Weak fit | Fixed-income ETFs generally lack the price velocity required to suit momentum-based strategies. |
| Value investor | Mixed fit | Value investors may appreciate the disciplined credit selection, but the fund is not designed for equity-style value metrics. |
| Dividend/Income investor | Strong fit | The fund is specifically designed to provide tax-exempt income, making it ideal for investors in higher tax brackets. |
| Low-risk investor | Strong fit | Its intermediate duration and focus on investment-grade municipals align well with a conservative, risk-averse profile. |
Investor Profile
Ideal Investor Profile
Investors in a high federal tax bracket seeking steady, tax-advantaged income and capital preservation.
Suitability
Best suited for long-term investors looking to build tax-efficient portfolios rather than active traders.
Risk Profile
| Risk factor | Level | Why it matters |
|---|---|---|
| Volatility | Low | The fund is designed to maintain lower price swings than equity portfolios through intermediate bond holdings. |
| Market risk | Medium | Changes in interest rates will directly impact the market price of the fund's municipal bonds. |
| Concentration | Medium | Portfolios are concentrated in the municipal debt market, which can be sensitive to regional fiscal health. |
| Tracking/expense | Low | As an active fund, it does not aim to track an index, mitigating traditional tracking error concerns. |
| Liquidity | Medium | Municipal bonds can sometimes experience liquidity crunches, potentially affecting execution prices. |
| Business/sector quality | Low | The fund focuses on investment-grade issuers, which historically carry a low risk of default. |
Risk Analysis
Volatility
MMIT exhibits lower volatility than equity markets, typical of intermediate-term, investment-grade fixed-income funds.
Market Risk
The fund is primarily exposed to interest rate risk (duration risk) and municipal credit risk.
What the ETF Owns
| Exposure Type | Exposure | Weight (%) | Retail Investor Read |
|---|---|---|---|
| Fixed-income type | Investment-Grade Municipal Bonds | 97 | These bonds provide the core tax-exempt income stream that defines the fund's primary utility for investors. |
| Cash/collateral | Cash and Cash Equivalents | 3 | This small liquidity buffer is held to manage daily inflows, outflows, and operational requirements. |
Analysis of Past Performance
Type ETF | Historic Profit 6.52% | Avg. Invested days 48 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Advisory Rating  | Upturn Advisory Performance  3.0 | ETF Returns Performance  2.0 |
| Profits based on simulation | Last Close 11/06/2026 |
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