MMIT vs VYM
MMIT vs VYM
NYLI MacKay Muni Intermediate ETF vs Vanguard High Dividend Yield ETF
Quick Verdict
VYM has a lower expense ratio. VYM delivered stronger 1-year returns. VYM offers more diversification with 558 holdings.
Side-by-Side Comparison
| Metric | MMIT | VYM | Winner |
|---|---|---|---|
| Expense Ratio | 0.30% | 0.04% | |
| AUM | $1.5B | $79.0B | |
| Dividend Yield | 3.86% | 2.86% | |
| Holdings | 1,608 | 568 | |
| YTD Return | +0.97% | +15.80% | |
| 1Y Return | +4.59% | +26.12% | |
| 3Y Return (annualized) | +3.58% | +18.25% | |
| 5Y Return (annualized) | +0.91% | +12.51% | |
| Volatility (annualized) | 5.0% | 14.6% | |
| Max Drawdown | -12.3% | -58.8% | |
| Fund Family | INDEXIQ ETF TRUST | Vanguard (US) | |
| Category | Tax Preferred | Equity | |
| Inception | Oct 18, 2017 | Nov 10, 2006 |
MMIT vs VYM Performance
NYLI MacKay Muni Intermediate ETF (MMIT) is a ETF from INDEXIQ ETF TRUST and Vanguard High Dividend Yield ETF (VYM) is a ETF from Vanguard (US). Over the past year MMIT returned +4.59% while VYM returned +26.12%. Year to date, MMIT is up 0.97% versus a gain of 15.80% for VYM.
Over three years, MMIT compounded at +3.58% per year against +18.25% for VYM; over five years the annualized figures are +0.91% and +12.51% respectively. Across the full 9-year window we track, VYM has the edge at +7.07% annualized vs +1.43%. Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
VYM has been the more volatile fund, with annualized monthly volatility of 14.6% 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 -58.8% for VYM. 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 0.40. They move independently enough that combining them can meaningfully diversify a portfolio.
Fees and Cost Over Time
MMIT charges 0.30% per year while VYM charges 0.04%. On a $10,000 position that is $30 vs $4 annually, a gap of $26 per year that compounds over a long holding period. On income, MMIT currently yields 3.86% against 2.86% for VYM.
Holdings Overlap
MMIT and VYM share 0 holdings out of 1083 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 VYM?
MMIT has an expense ratio of 0.30% while VYM charges 0.04%. VYM is the cheaper option. On a $10,000 investment, that is $26 per year of difference.
Which performed better, MMIT or VYM?
Over the past year MMIT returned +4.59% vs +26.12% for VYM, so VYM leads on 1-year performance. Over the longest common window we track (9 years), MMIT annualized +1.43% vs +7.07% for VYM. Past performance does not guarantee future results.
Which is riskier, MMIT or VYM?
VYM has been the more volatile fund at 14.6% annualized versus 5.0% for MMIT. Worst drawdown: MMIT -12.3% vs VYM -58.8%.
Should I hold both MMIT and VYM?
MMIT and VYM have a monthly-return correlation of 0.40, so combining them can provide real diversification depending on your allocation goals.
What is the holdings overlap between MMIT and VYM?
MMIT and VYM share 0 common holdings with a 0.0% weight overlap. Combined, they hold 1083 unique securities.
Which pays a higher dividend, MMIT or VYM?
MMIT yields 3.86% while VYM yields 2.86%, so MMIT currently pays the higher dividend yield.
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