NYLIM MacKay Muni Allocation ETF (MMMA)

NYLIM MacKay Muni Allocation ETF is an actively managed fixed income fund from New York Life Investment Management, with portfolio management provided by its affiliate MacKay Shields. The fund seeks current income that is generally exempt from federal income tax.

The portfolio invests mainly in municipal bonds issued by U.S. states, cities and other local government entities. As an allocation strategy, the managers have flexibility to shift among sectors, credit qualities, maturities and issuers across the municipal market based on their assessment of value and risk, rather than tracking a fixed index. Shares trade on NYSE Arca.