FTMU vs MMCA
Franklin Municipal Income ETF vs NYLIM MacKay California Muni Intermediate ETF
Which is better, FTMU or MMCA?
Nearly the same fund. FTMU costs less.
FTMU has a lower expense ratio. MMCA led over 1Y. The two have moved almost in lockstep, correlation 0.97.
MarketXLS is not an investment adviser. This comparison is generated automatically from market data and is for information only. A Best mark means the better reading on that one measure, not a recommendation to buy.
Side-by-Side Comparison
| Metric | FTMU | MMCA |
|---|---|---|
| Expense Ratio | 0.30%Best | 0.36% |
| AUM | $467M | $96M |
| Dividend Yield | 4.08% | 3.73% |
| Holdings | 533 | 123 |
| YTD Return | -2.93%Best | -2.96% |
| 1Y Return | -2.83% | -1.99%Best |
| 3Y Return (annualized) | - | +3.42% |
| Volatility (annualized) | 6.2% | 5.5%Best |
| Fund Family | Franklin Templeton Investments (US) | New York Life Investments |
| Category | Fixed Income | Fixed Income |
| Style | Municipal Bond | Municipal Bond |
| Inception | Dec 31, 1976 | Dec 21, 2021 |
Not shown on this pair: 5Y Return (annualized), Max Drawdown, $10,000 over the window, Top 10 Weight.
FTMU vs MMCA growth
Month-end closes. Both lines start at 0% in the first month shown, so the gap between them is the difference in growth across that window. The full view is available from the range buttons; it is not the opening view here because over the whole period one of these two funds moves so much further than the other that its line would sit flat on the axis.
FTMU vs MMCA Performance
Franklin Municipal Income ETF (FTMU) is an ETF from Franklin Templeton Investments (US) and NYLIM MacKay California Muni Intermediate ETF (MMCA) is an ETF from New York Life Investments. Over the past year FTMU returned -2.83% while MMCA returned -1.99%. Year to date, FTMU is down 2.93% versus a loss of 2.96% for MMCA.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
FTMU has been the more volatile fund, with annualized monthly volatility of 6.2% compared with 5.5% for MMCA. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The two funds' monthly returns correlate at 0.97. They move almost in lockstep, so holding both mostly duplicates the same exposure.
Fees and Cost Over Time
FTMU charges 0.30% per year while MMCA charges 0.36%. On a $10,000 position that is $30 vs $36 annually, a gap of $6 per year that compounds over a long holding period. On income, FTMU currently yields 4.08% against 3.73% for MMCA.
Holdings Overlap
We hold position weights for 81 holdings in FTMU and 21 in MMCA, totalling 41.1% and 22.4% of the two funds. Neither is a share of a fund we can divide by, so no overlap percentage is shown here. Within what we can see, 1 positions appear in both.
1 positions in common, counted across the 81 positions we hold weights for in FTMU and 21 in MMCA, against full books of 533 and 123.
Top Shared Holdings
| Stock | Weight in FTMU | Weight in MMCA | Difference |
|---|---|---|---|
| PR PRC 4 07/01/2037Pr Commonwealth 4.00% 07/01/2037 | 0.32% | 1.73% | 1.41% |
You are not choosing between two funds in isolation.
Whichever of FTMU and MMCA you pick has to sit alongside everything else you own. Add the rest and see what the combination actually holds.
Free for up to 10 holdings. No account needed.
Frequently Asked Questions
Which is cheaper, FTMU or MMCA?
FTMU has an expense ratio of 0.30% while MMCA charges 0.36%. FTMU is the cheaper option, by $6 a year on a $10,000 investment.
Which performed better, FTMU or MMCA?
Over the past year FTMU returned -2.83% vs -1.99% for MMCA, so MMCA leads on 1-year performance. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, FTMU or MMCA?
FTMU has been the more volatile fund at 6.2% annualized versus 5.5% for MMCA.
Should I hold both FTMU and MMCA?
FTMU and MMCA have a monthly-return correlation of 0.97, so they move almost identically. What is left to separate them is the fee and the index each one tracks. This is information, not a recommendation.
Which pays a higher dividend, FTMU or MMCA?
FTMU yields 4.08% while MMCA yields 3.73%, so FTMU currently pays the higher dividend yield.
Is MMCA better than FTMU?
FTMU has a lower expense ratio. MMCA led over 1Y. The two have moved almost in lockstep, correlation 0.97. Which one suits a particular account depends on what it is for. This is information, not a recommendation.