ETF Report: NYLI MACKAY MUNI INSURED ETF (MMIN)

What this ETF is trying to do

The NYLI MACKAY MUNI INSURED ETF, known by its ticker symbol MMIN, is an exchange-traded fund. This type of investment is designed to provide certain types of income to its investors through regular payments.

What the numbers show

As of July 10, 2026, the current price of one share is $24.07. Looking back at the past year, the price has grown by about 4.11%. When you include the extra money paid out to investors, the total return for the last year was 8.40%.

If we look at a longer period, the three-year total return was 13.06%. This shows how much value an investor gained over three years when including all payments received.

Income and distribution explanation

This ETF is designed to pay out money regularly. Over the last 12 months, it made 12 separate payments. These payments usually happen once a month. The total amount paid out per share over the last year was $0.9646.

The "distribution yield" is 4.0075%. This number tells you how much income the ETF paid compared to its price. It is important to remember that a high yield alone can be misleading. A high percentage might look good, but it does not tell you if the actual value of your investment is staying healthy or shrinking.

NAV erosion explanation

"NAV erosion" happens when the value of the underlying assets in an ETF drops over time. Think of NAV (Net Asset Value) as the "true value" of one share. If an ETF's price keeps falling lower and lower, it is experiencing erosion.

In this case, MMIN has an erosion score of 94, which is labeled as "Stable / sideways." This means the fund is not showing signs of severe erosion. It is generally staying steady rather than collapsing in price.

Pros

• The ETF has a history of regular monthly payments.

• The total returns over one year and three years have been positive.

• The price has remained stable rather than dropping sharply.

Cons

• Investors must watch the yield closely to ensure it isn't coming at the expense of the share price.

Beginner takeaway

Income investors usually prefer ETFs that go "sideways" (staying at a steady price) or move slightly up. They generally avoid ETFs that collapse in price. This is because if the share price drops too much, you lose your original money (your principal), which can cancel out the benefits of the income you received.

Because MMIN is labeled as stable/sideways, it is not currently showing the type of severe erosion that destroys an investor's principal.