NYLIM MacKay Muni Short Duration ETF (MMSD)

NYLIM MacKay Muni Short Duration ETF is an actively managed municipal bond fund sponsored by New York Life Investment Management and managed by MacKay Shields, the firm's municipal bond specialist affiliate.

The fund seeks income exempt from federal income tax while keeping interest-rate sensitivity relatively low. It does this by focusing on municipal securities with shorter maturities and maintaining a short overall portfolio duration. Holdings include bonds issued by states, municipalities and public authorities across the United States, selected through the managers' credit research rather than by replicating an index. The fund's shares are listed on NYSE Arca.