MMIT vs SCHD
MMIT vs SCHD
NYLI MacKay Muni Intermediate ETF vs Schwab US Dividend Equity ETF
Quick Verdict
SCHD has a lower expense ratio. SCHD delivered stronger 1-year returns. MMIT offers more diversification with 525 holdings.
Side-by-Side Comparison
| Metric | MMIT | SCHD | Winner |
|---|---|---|---|
| Expense Ratio | 0.30% | 0.06% | |
| AUM | $1.5B | $103.7B | |
| Dividend Yield | 3.86% | 3.31% | |
| Holdings | 1,608 | 104 | |
| YTD Return | +0.97% | +24.26% | |
| 1Y Return | +4.59% | +31.38% | |
| 3Y Return (annualized) | +3.58% | +15.08% | |
| 5Y Return (annualized) | +0.91% | +9.72% | |
| Volatility (annualized) | 5.0% | 13.6% | |
| Max Drawdown | -12.3% | -33.4% | |
| Fund Family | INDEXIQ ETF TRUST | Charles Schwab Asset Management | |
| Category | Tax Preferred | Equity | |
| Inception | Oct 18, 2017 | Oct 20, 2011 |
MMIT vs SCHD Performance
NYLI MacKay Muni Intermediate ETF (MMIT) is a ETF from INDEXIQ ETF TRUST and Schwab US Dividend Equity ETF (SCHD) is a ETF from Charles Schwab Asset Management. Over the past year MMIT returned +4.59% while SCHD returned +31.38%. Year to date, MMIT is up 0.97% versus a gain of 24.26% for SCHD.
Over three years, MMIT compounded at +3.58% per year against +15.08% for SCHD; over five years the annualized figures are +0.91% and +9.72% respectively. Across the full 9-year window we track, SCHD has the edge at +11.39% annualized vs +1.43%. 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 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 -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 0.37. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MMIT charges 0.30% per year while SCHD charges 0.06%. On a $10,000 position that is $30 vs $6 annually, a gap of $24 per year that compounds over a long holding period. On income, MMIT currently yields 3.86% against 3.31% for SCHD.
Holdings Overlap
MMIT and SCHD share 0 holdings out of 625 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 SCHD?
MMIT has an expense ratio of 0.30% while SCHD charges 0.06%. SCHD is the cheaper option. On a $10,000 investment, that is $24 per year of difference.
Which performed better, MMIT or SCHD?
Over the past year MMIT returned +4.59% vs +31.38% for SCHD, so SCHD leads on 1-year performance. Over the longest common window we track (9 years), MMIT annualized +1.43% vs +11.39% for SCHD. Past performance does not guarantee future results.
Which is riskier, MMIT or SCHD?
SCHD has been the more volatile fund at 13.6% annualized versus 5.0% for MMIT. Worst drawdown: MMIT -12.3% vs SCHD -33.4%.
Should I hold both MMIT and SCHD?
MMIT and SCHD have a monthly-return correlation of 0.37, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MMIT and SCHD?
MMIT and SCHD share 0 common holdings with a 0.0% weight overlap. Combined, they hold 625 unique securities.
Which pays a higher dividend, MMIT or SCHD?
MMIT yields 3.86% while SCHD yields 3.31%, so MMIT currently pays the higher dividend yield.
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