MMIT vs QQQ
NYLI MacKay Muni Intermediate ETF vs Invesco QQQ Trust, Series 1
Quick Verdict
QQQ has a lower expense ratio. QQQ delivered stronger 1-year returns. MMIT offers more diversification with 525 holdings.
Side-by-Side Comparison
| Metric | MMIT | QQQ | Winner |
|---|---|---|---|
| Expense Ratio | 0.30% | 0.18% | |
| AUM | $1.5B | $455.8B | |
| Dividend Yield | 3.86% | 0.41% | |
| Holdings | 1,608 | 108 | |
| YTD Return | +0.97% | +17.46% | |
| 1Y Return | +4.46% | +26.02% | |
| 3Y Return (annualized) | +3.53% | +25.51% | |
| 5Y Return (annualized) | +0.92% | +15.12% | |
| Volatility (annualized) | 5.0% | 30.6% | |
| Max Drawdown | -12.3% | -83.0% | |
| Fund Family | INDEXIQ ETF TRUST | Invesco (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Oct 18, 2017 | Mar 10, 1999 |
MMIT vs QQQ Performance
NYLI MacKay Muni Intermediate ETF (MMIT) is a ETF from INDEXIQ ETF TRUST and Invesco QQQ Trust, Series 1 (QQQ) is a ETF from Invesco (US). Over the past year MMIT returned +4.46% while QQQ returned +26.02%. Year to date, MMIT is up 0.97% versus a gain of 17.46% for QQQ.
Over three years, MMIT compounded at +3.53% per year against +25.51% for QQQ; over five years the annualized figures are +0.92% and +15.12% respectively. Across the full 9-year window we track, QQQ has the edge at +13.08% annualized vs +1.43%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
QQQ has been the more volatile fund, with annualized monthly volatility of 30.6% compared with 5.0% for MMIT. 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 -12.3% for MMIT and -83.0% for QQQ. 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 0.47. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MMIT charges 0.30% per year while QQQ charges 0.18%. On a $10,000 position that is $30 vs $18 annually, a gap of $12 per year that compounds over a long holding period. On income, MMIT currently yields 3.86% against 0.41% for QQQ.
Holdings Overlap
MMIT and QQQ share 0 holdings out of 628 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, MMIT or QQQ?
MMIT has an expense ratio of 0.30% while QQQ charges 0.18%. QQQ is the cheaper option. On a $10,000 investment, that is $12 per year of difference.
Which performed better, MMIT or QQQ?
Over the past year MMIT returned +4.46% vs +26.02% for QQQ, so QQQ leads on 1-year performance. Over the longest common window we track (9 years), MMIT annualized +1.43% vs +13.08% for QQQ. Past performance does not guarantee future results.
Which is riskier, MMIT or QQQ?
QQQ has been the more volatile fund at 30.6% annualized versus 5.0% for MMIT. Worst drawdown: MMIT -12.3% vs QQQ -83.0%.
Should I hold both MMIT and QQQ?
MMIT and QQQ have a monthly-return correlation of 0.47, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MMIT and QQQ?
MMIT and QQQ share 0 common holdings with a 0.0% weight overlap. Combined, they hold 628 unique securities.
Which pays a higher dividend, MMIT or QQQ?
MMIT yields 3.86% while QQQ yields 0.41%, so MMIT currently pays the higher dividend yield.
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