MMMA vs SPY
NYLI MacKay Muni Allocation ETF vs State Street SPDR S&P 500 ETF Trust
Quick Verdict
SPY has a lower expense ratio. SPY offers more diversification with 505 holdings.
Side-by-Side Comparison
| Metric | MMMA | SPY | Winner |
|---|---|---|---|
| Expense Ratio | 0.35% | 0.09% | |
| AUM | $28M | $821.1B | |
| Dividend Yield | 2.68% | 1.01% | |
| Holdings | 50 | 505 | |
| YTD Return | +2.16% | +12.68% | |
| 1Y Return | - | +21.82% | |
| 3Y Return (annualized) | - | +21.98% | |
| 5Y Return (annualized) | - | +12.89% | |
| Volatility (annualized) | - | 15.3% | |
| Max Drawdown | -2.8% | -56.5% | |
| Fund Family | New York Life Investments | State Street Investment Management | |
| Category | Fixed Income | Equity | |
| Inception | Dec 16, 2025 | Jan 22, 1993 |
MMMA vs SPY Performance
NYLI MacKay Muni Allocation ETF (MMMA) is a ETF from New York Life Investments and State Street SPDR S&P 500 ETF Trust (SPY) is a ETF from State Street Investment Management. Year to date, MMMA is up 2.16% versus a gain of 12.68% for SPY.
Risk: Volatility and Drawdowns
The deepest peak-to-trough decline in our data was -2.8% for MMMA and -56.5% for SPY. Drawdown depth is worth weighing if you expect to sell during market stress rather than ride it out.
Fees and Cost Over Time
MMMA charges 0.35% per year while SPY charges 0.09%. On a $10,000 position that is $35 vs $9 annually, a gap of $26 per year that compounds over a long holding period. On income, MMMA currently yields 2.68% against 1.01% for SPY.
Holdings Overlap
MMMA and SPY share 0 holdings out of 505 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, MMMA or SPY?
MMMA has an expense ratio of 0.35% while SPY charges 0.09%. SPY is the cheaper option. On a $10,000 investment, that is $26 per year of difference.
What is the holdings overlap between MMMA and SPY?
MMMA and SPY share 0 common holdings with a 0.0% weight overlap. Combined, they hold 505 unique securities.
Which pays a higher dividend, MMMA or SPY?
MMMA yields 2.68% while SPY yields 1.01%, so MMMA currently pays the higher dividend yield.
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