MMD vs TXXI
NYLIM MacKay DefinedTerm Muni Opportunities Fund vs BondBloxx IR+M Tax-Aware Intermediate Duration ETF
Which is better, MMD or TXXI?
TXXI has been ahead.
TXXI has a lower expense ratio. TXXI led over 1Y 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 | TXXI |
|---|---|---|
| Expense Ratio | 2.33% | 0.35%Best |
| AUM | $478M | $38M |
| Dividend Yield | 5.20% | 3.64% |
| Holdings | 96 | 164 |
| YTD Return | -4.95% | -2.69%Best |
| 1Y Return | -5.20% | -1.88%Best |
| 3Y Return (annualized) | +1.68% | - |
| 5Y Return (annualized) | -3.93% | - |
| Volatility (annualized) | 10.9% | 4.5%Best |
| Max Drawdown | -17.1% | -5.9%Best |
| $10,000 over 1.6 years | $9,777 | $10,156Best |
| Fund Family | New York Life Investments | BondBloxx |
| Category | Tax Preferred | Tax Preferred |
| Style | Municipal Bond | Municipal Bond |
| Inception | Jun 27, 2012 | Mar 13, 2025 |
Not shown on this pair: Top 10 Weight.
Volatility and max drawdown, and the $10,000 over 1.6 years row, are measured over the window both funds cover: Mar 13, 2025 to Oct 14, 2026 (1.6 years).
MMD vs TXXI 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 1.6 years both funds cover.
MMD vs TXXI Performance
NYLIM MacKay DefinedTerm Muni Opportunities Fund (MMD) is an ETF from New York Life Investments and BondBloxx IR+M Tax-Aware Intermediate Duration ETF (TXXI) is an ETF from BondBloxx. Over the past year MMD returned -5.20% while TXXI returned -1.88%. Year to date, MMD is down 4.95% versus a loss of 2.69% for TXXI.
Past performance does not guarantee future results.
Risk: Volatility and Drawdowns
MMD has been the more volatile fund, with annualized monthly volatility of 10.9% compared with 4.5% for TXXI. 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 -17.1% for MMD and -5.9% for TXXI. Drawdown depth is what each fund did in the worst stretch of the window measured above.
The two funds' monthly returns correlate at 0.89. They usually move together, but the gap leaves some room for diversification.
Fees and Cost Over Time
MMD charges 2.33% per year while TXXI charges 0.35%. On a $10,000 position that is $233 vs $35 annually, a gap of $198 per year that compounds over a long holding period. On income, MMD currently yields 5.20% against 3.64% for TXXI.
Holdings Overlap
We hold position weights for 34 holdings in MMD and 86 in TXXI, totalling 46.5% and 42.8% of the two funds. The two books name no position in common, so there is no overlap percentage to show.
The two holdings books were reported 94 days apart, MMD as of Jun 30, 2026 and TXXI as of Oct 2, 2026, so some of the difference between them is the time between the two reports rather than the funds.
0 positions in common, counted across the 34 positions we hold weights for in MMD and 86 in TXXI, against full books of 96 and 164.
You are not choosing between two funds in isolation.
Whichever of MMD and TXXI 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 TXXI?
MMD has an expense ratio of 2.33% while TXXI charges 0.35%. TXXI is the cheaper option, by $198 a year on a $10,000 investment.
Which performed better, MMD or TXXI?
Over the past year MMD returned -5.20% vs -1.88% for TXXI, so TXXI leads on 1-year performance. Over the longest common window we track (2 years), MMD annualized -1.40% vs +0.97% for TXXI. Past performance does not guarantee future results. This is information, not a recommendation.
Which is riskier, MMD or TXXI?
MMD has been the more volatile fund at 10.9% annualized versus 4.5% for TXXI. Worst drawdown: MMD -17.1% vs TXXI -5.9%.
Should I hold both MMD and TXXI?
MMD and TXXI have a monthly-return correlation of 0.89, 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 TXXI?
MMD yields 5.20% while TXXI yields 3.64%, so MMD currently pays the higher dividend yield.
Is TXXI better than MMD?
TXXI has a lower expense ratio. TXXI led over 1Y and the full window. Which one suits a particular account depends on what it is for. This is information, not a recommendation.