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Upturn AI SWOT - About
IQ MacKay Municipal Intermediate ETF (MMIT)
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Upturn Advisory Summary
10/24/2025: MMIT (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type ETF | Historic Profit 2.94% | Avg. Invested days 40 | Today’s Advisory Consider higher Upturn Star rating |
Upturn Star Rating | Upturn Advisory Performance  2.0 | ETF Returns Performance  1.0 |
| Profits based on simulation | Last Close 10/24/2025 |
Key Highlights
Volume (30-day avg) - | Beta 0.8 | 52 Weeks Range 22.85 - 24.16 | Updated Date 06/29/2025 |
52 Weeks Range 22.85 - 24.16 | Updated Date 06/29/2025 |
Upturn AI SWOT
IQ MacKay Municipal Intermediate ETF
ETF Overview
Overview
The IQ MacKay Municipal Intermediate ETF (MMIT) seeks to provide current income exempt from federal income tax by investing primarily in investment-grade municipal bonds with intermediate maturities. The fund offers a diversified portfolio of tax-exempt securities.
Reputation and Reliability
MacKay Shields is a well-established investment manager with a long history in fixed income and other asset classes.
Management Expertise
MacKay Shields has a team of experienced portfolio managers specializing in municipal bonds and fixed-income strategies.
Investment Objective
Goal
To seek current income exempt from federal income tax.
Investment Approach and Strategy
Strategy: The ETF invests in a portfolio of municipal bonds with intermediate maturities.
Composition The ETF primarily holds investment-grade municipal bonds.
Market Position
Market Share: Data unavailable.
Total Net Assets (AUM): 114800000
Competitors
Key Competitors
- VTEB
- ITM
- HYMB
- SUB
Competitive Landscape
The municipal bond ETF market is competitive, with several large players like Vanguard and iShares. MMIT differentiates itself through its active management and focus on intermediate maturities. Active management can potentially offer higher returns but also carries higher fees and the risk of underperformance relative to passive benchmarks.
Financial Performance
Historical Performance: Historical performance data unavailable without a specific date range.
Benchmark Comparison: Benchmark comparison data unavailable without a specific benchmark index.
Expense Ratio: 0.25
Liquidity
Average Trading Volume
The average trading volume of MMIT reflects moderate liquidity for an ETF of its size.
Bid-Ask Spread
The bid-ask spread varies depending on market conditions but is typically relatively tight for MMIT.
Market Dynamics
Market Environment Factors
Economic factors such as interest rates, inflation, and tax policy changes can significantly impact the performance of municipal bonds held by MMIT. State and local government financial health also influence bond values.
Growth Trajectory
MMIT's growth trajectory depends on investor demand for tax-exempt income and the overall performance of the municipal bond market. The ETF may adjust its holdings and strategy based on market conditions and opportunities.
Moat and Competitive Advantages
Competitive Edge
MMIT benefits from MacKay Shields' expertise in fixed-income investing and active management approach. The intermediate maturity focus can be attractive to investors seeking a balance between income and interest rate risk. The fund's tax-exempt income is a key advantage for investors in higher tax brackets. Active management offers potential outperformance but requires skilled portfolio managers and can result in greater downside risk. The fund provides a liquid and transparent way to access the municipal bond market.
Risk Analysis
Volatility
MMIT's volatility is generally lower than equity ETFs due to its focus on fixed-income securities. Volatility can increase during periods of interest rate uncertainty or economic stress.
Market Risk
Market risk includes interest rate risk (bond prices falling when interest rates rise) and credit risk (the risk of default by municipal bond issuers). Tax law changes could also impact the attractiveness of municipal bonds.
Investor Profile
Ideal Investor Profile
MMIT is suitable for investors seeking tax-exempt income, particularly those in higher tax brackets. It's also appropriate for investors looking for diversification within their fixed-income portfolio.
Market Risk
MMIT is best suited for long-term investors who prioritize income and tax efficiency over aggressive growth.
Summary
The IQ MacKay Municipal Intermediate ETF (MMIT) provides tax-exempt income by investing in investment-grade municipal bonds with intermediate maturities. It is actively managed by MacKay Shields and offers diversification within the municipal bond market. It is suitable for investors seeking tax-efficient income and a more conservative fixed-income investment. The ETF's performance is influenced by interest rates, credit quality, and overall market conditions and its active management introduces the potential for both outperformance and underperformance.
Peer Comparison
Sources and Disclaimers
Data Sources:
- IQ ETF Website
- MacKay Shields Website
- SEC Filings
Disclaimers:
The data provided is for informational purposes only and should not be considered investment advice. Past performance is not indicative of future results. Investment decisions should be made based on individual circumstances and after consulting with a qualified financial advisor.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About IQ MacKay Municipal Intermediate ETF
Exchange NYSE ARCA | Headquaters - | ||
IPO Launch date - | CEO - | ||
Sector - | Industry - | Full time employees - | Website |
Full time employees - | Website | ||
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). It does not intend to invest in Municipal Bonds whose interest is subject to the federal alternative minimum tax.
Note: This website is maintained by Upturn Corporation, which is an investment adviser registered with the U.S. Securities and Exchange Commission. Such registration does not imply a certain level of skill or training. Investing in securities has risks. Past performance is no guarantee of future returns. No assurance is provided as to any particular investment return, and you may lose money using our services. You are strongly advised to consult appropriate counsel before making any investments in companies you learn about through our services. You should obtain appropriate legal, tax, investment, accounting, and other advice that takes into account your investment portfolio and overall financial situation. You are solely responsible for conducting due diligence on a potential investment. We do not affect trades for you. You will select your own broker through which to transact. Investments are not FDIC insured, they are not guaranteed, and they may lose value. Please see the Privacy Policy, Terms of Use, and Disclosure for more information.