MMCA vs SCHD
NYLI MacKay California Muni Intermediate ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. SCHD offers more diversification with 100 holdings.
Side-by-Side Comparison
| Metric | MMCA | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.36% | 0.06% | |
| AUM | $90M | $103.7B | |
| Dividend Yield | 3.54% | 3.31% | |
| Holdings | 114 | 104 | |
| YTD Return | +0.21% | +24.26% | |
| 1Y Return | +4.01% | +31.38% | |
| 3Y Return (annualized) | +3.80% | +15.08% | |
| 5Y Return (annualized) | - | +9.72% | |
| Volatility (annualized) | 6.4% | 13.6% | |
| Max Drawdown | -16.0% | -33.4% | |
| Fund Family | New York Life Investments | Charles Schwab Asset Management | |
| Category | Fixed Income | Equity | |
| Inception | Dec 21, 2021 | Oct 20, 2011 |
MMCA vs SCHD Performance
NYLI MacKay California Muni Intermediate ETF (MMCA) is a ETF from New York Life Investments and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year MMCA returned +4.01% while SCHD returned +31.38%. Year to date, MMCA is up 0.21% versus a gain of 24.26% for SCHD.
Over three years, MMCA compounded at +3.80% per year against +15.08% for SCHD. Across the full 5-year window we track, SCHD has the edge at +11.39% annualized vs +0.00%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
SCHD has been the more volatile fund, with annualized monthly volatility of 13.6% compared with 6.4% for MMCA. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -16.0% for MMCA and -33.4% for SCHD. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
The two funds' monthly returns correlate at 0.57. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MMCA charges 0.36% per year while SCHD charges 0.06%. On a $10,000 position that is $36 vs $6 annually, a gap of $30 per year that compounds over a long holding period. On income, MMCA currently yields 3.54% against 3.31% for SCHD.
Holdings Overlap
MMCA and SCHD share 0 holdings out of 127 unique holdings combined, representing a 0.0% weight overlap.
Moderate overlap means holding both could provide meaningful diversification benefits.
Frequently Asked Questions
Which is cheaper, MMCA or SCHD?
MMCA has an expense ratio of 0.36% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $30 per year of difference.
Which performed better, MMCA or SCHD?
Over the past year MMCA returned +4.01% vs +31.38% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (5 years), MMCA annualized +0.00% vs +11.39% for SCHD. Past performance does not guarantee future results.
Which is riskier, MMCA or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 6.4% for MMCA. Worst drawdown: MMCA -16.0% vs SCHD -33.4%.
Should I hold both MMCA and SCHD?
MMCA and SCHD have a monthly-return correlation of 0.57, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MMCA and SCHD?
MMCA and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 127 unique securities.
Which pays a higher dividend, MMCA or SCHD?
MMCA yields 3.54% while SCHD yields 3.31%, so MMCA currently pays the higher dividend yield.
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