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New York Life Investments has launched the NYLI MacKay Muni Short Duration ETF (MMSD), an actively managed municipal bond ETF focused on providing tax-exempt income through short-duration strategy. The ETF primarily invests in high-quality, short-term municipal bonds with a target duration of 1-3 years and can allocate up to 20% of assets to non-investment grade municipal securities.
The fund is managed by the MacKay Municipal Managers team, led by Scott Sprauer, John Lawlor, Sanjit Gill, and Vineeth Krishnakumar. MMSD joins New York Life Investments' existing suite of active muni-focused ETFs, which includes MMIN, MMIT, and MMCA.
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