MMD vs VOO
NYLIM MacKay DefinedTerm Muni Opportunities Fund vs Vanguard S&P 500 ETF
Which is better, MMD or VOO?
Municipal Bond against Large Cap Blend.
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | MMD | VOO |
|---|---|---|
| Expense Ratio | 2.33% | 0.03%Best |
| AUM | $478M | $1.0T |
| Dividend Yield | 4.82% | 1.04% |
| Holdings | 96 | 506 |
| YTD Return | -3.49% | +14.81%Best |
| 1Y Return | -3.68% | +18.66%Best |
| 3Y Return (annualized) | +1.88% | +23.30%Best |
| 5Y Return (annualized) | -3.50% | +13.98%Best |
| Volatility (annualized) | 11.4%Best | 14.0% |
| Max Drawdown | -30.1%Best | -34.3% |
| $10,000 over 5 years | $8,368 | $19,237Best |
| Fund Family | New York Life Investments | Vanguard (US) |
| Category | Tax Preferred | Equity |
| Style | Municipal Bond | Large Cap Blend |
| Inception | Jun 27, 2012 | Sep 7, 2010 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jun 27, 2012 to Oct 12, 2026 (14.3 years).
MMD vs VOO growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
MMD vs VOO Performance
NYLIM MacKay DefinedTerm Muni Opportunities Fund (MMD) is an ETF from New York Life Investments and Vanguard S&P 500 ETF (VOO) is an ETF from Vanguard (US). Over the past year MMD returned -3.68% while VOO returned +18.66%. Year to date, MMD is down 3.49% versus a gain of 14.81% for VOO.
Over three years, MMD compounded at +1.88% per year against +23.30% for VOO; over five years the annualized figures are -3.50% and +13.98% respectively. Across the full 14-year window we track, VOO has the edge at +13.82% annualized vs -0.59%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VOO has been the more volatile fund, with annualized monthly volatility of 14.0% compared with 11.4% for MMD. 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 -30.1% for MMD and -34.3% for VOO. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.43. They move together some of the time, and apart the rest.
Fees and Cost Over Time
MMD charges 2.33% per year while VOO charges 0.03%. On a $10,000 position that is $233 vs $3 annually, a gap of $230 per year that compounds over a long holding period. On income, MMD currently yields 4.82% against 1.04% for VOO.
Holdings Overlap
We hold position weights for 34 holdings in MMD and 494 in VOO, totalling 46.5% and 99.5% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
0 positions in common, counted across the 34 positions we hold weights for in MMD and 494 in VOO, against full books of 96 and 506.
You are not choosing between two funds in isolation.
Whichever of MMD and VOO you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, MMD or VOO?
MMD has an expense ratio of 2.33% while VOO charges 0.03%. VOO is the cheaper option, by $230 a year on a $10,000 investment.
Which performed better, MMD or VOO?
Over the past year MMD returned -3.68% vs +18.66% for VOO, so VOO leads on 1-year performance. Over the longest common window we track (14 years), MMD annualized -0.59% vs +13.82% for VOO. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MMD or VOO?
VOO has been the more volatile fund at 14.0% annualized versus 11.4% for MMD. Worst drawdown: MMD -30.1% vs VOO -34.3%.
Should I hold both MMD and VOO?
MMD and VOO have a monthly-return correlation of 0.43, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, MMD or VOO?
MMD yields 4.82% while VOO yields 1.04%, so MMD currently pays the higher dividend yield.
Is VOO better than MMD?
VOO has a lower expense ratio. VOO led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.