MMD vs RVNU
NYLIM MacKay DefinedTerm Muni Opportunities Fund vs Xtrackers Municipal Infrastructure Revenue Bond Active ETF
Which is better, MMD or RVNU?
RVNU has been ahead.
RVNU has a lower expense ratio. RVNU led over 1Y, 3Y, 5Y and the full window.
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 | MMD | RVNU |
|---|---|---|
| Expense Ratio | 2.33% | 0.15%Best |
| AUM | $478M | $131M |
| Dividend Yield | 5.20% | 3.84% |
| Holdings | 96 | 513 |
| YTD Return | -3.64% | -1.63%Best |
| 1Y Return | -4.21% | -2.01%Best |
| 3Y Return (annualized) | +2.15% | +3.91%Best |
| 5Y Return (annualized) | -3.64% | -1.05%Best |
| Volatility (annualized) | 11.6% | 8.1%Best |
| Max Drawdown | -30.1% | -23.5%Best |
| $10,000 over 5 years | $8,308 | $9,486Best |
| Fund Family | New York Life Investments | Xtrackers ETFs |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Jun 27, 2012 | Jun 4, 2013 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown are measured over the window both funds cover: Jun 4, 2013 to Oct 15, 2026 (13.4 years).
MMD vs RVNU 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 covers the 13.4 years both funds cover.
MMD vs RVNU Performance
NYLIM MacKay DefinedTerm Muni Opportunities Fund (MMD) is an ETF from New York Life Investments and Xtrackers Municipal Infrastructure Revenue Bond Active ETF (RVNU) is an ETF from Xtrackers ETFs. Over the past year MMD returned -4.21% while RVNU returned -2.01%. Year to date, MMD is down 3.64% versus a loss of 1.63% for RVNU.
Over three years, MMD compounded at +2.15% per year against +3.91% for RVNU; over five years the annualized figures are -3.64% and -1.05% respectively. Across the full 13-year window we track, RVNU has the edge at +0.81% annualized vs -0.12%.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MMD has been the more volatile fund, with annualized monthly volatility of 11.6% compared with 8.1% for RVNU. Lower volatility generally means a smoother ride, though it often comes with lower long-run returns.
The deepest peak-to-trough decline in our data was -30.1% for MMD and -23.5% for RVNU. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.74. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
MMD charges 2.33% per year while RVNU charges 0.15%. On a $10,000 position that is $233 vs $15 annually, a gap of $218 per year that compounds over a long holding period. On income, MMD currently yields 5.20% against 3.84% for RVNU.
Holdings Overlap
We hold position weights for 34 holdings in MMD and 115 in RVNU, totalling 46.5% and 35.5% 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.
The two holdings books were reported 93 days apart, MMD as of Jun 30, 2026 and RVNU as of Oct 1, 2026, so some of the difference between them is the time between the two reports rather than the funds.
1 positions in common, counted across the 34 positions we hold weights for in MMD and 115 in RVNU, against full books of 96 and 513.
Top Shared Holdings
| Stock | Weight in MMD | Weight in RVNU | Difference |
|---|---|---|---|
| OH COLAPT 5.5 01/01/Columbus Oh Regl Arpt Auth Revenue | 1.71% | 0.29% | 1.42% |
You are not choosing between two funds in isolation.
Whichever of MMD and RVNU 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, MMD or RVNU?
MMD has an expense ratio of 2.33% while RVNU charges 0.15%. RVNU is the cheaper option, by $218 a year on a $10,000 investment.
Which performed better, MMD or RVNU?
Over the past year MMD returned -4.21% vs -2.01% for RVNU, so RVNU leads on 1-year performance. Over the longest common window we track (13 years), MMD annualized -0.12% vs +0.81% for RVNU. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MMD or RVNU?
MMD has been the more volatile fund at 11.6% annualized versus 8.1% for RVNU. Worst drawdown: MMD -30.1% vs RVNU -23.5%.
Should I hold both MMD and RVNU?
MMD and RVNU have a monthly-return correlation of 0.74, so their returns are far enough apart for the mix to behave differently from either one alone. This is information, not a recommendation.
Which pays a higher dividend, MMD or RVNU?
MMD yields 5.20% while RVNU yields 3.84%, so MMD currently pays the higher dividend yield.
Is RVNU better than MMD?
RVNU has a lower expense ratio. RVNU led over 1Y, 3Y, 5Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.