MMCA – IQ MacKay California Mncpl Intmdt ETF – ETF Stock Quote

Will MMCA outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable MMCA’s performance objective and investment process is for both security selection and portfolio construction.
People Pillar

The People Pillar is our evaluation of the MMCA management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
Parent Pillar

The Parent Pillar is our rating of MMCA’s parent organization’s priorities and whether they’re in line with investors’ interests.

IQ MacKay California Mncpl Intmdt ETF’s Process Pillar rating is Average, but a strong management team still helps this strategy retain its Morningstar Medalist Rating of Bronze.

Morningstar Manager Research

Summary

The portfolio maintains a sizable cost advantage over competitors, priced within the least expensive fee quintile among peers.

by Morningstar Manager Research

Rated on Mar 31, 2024 Published on Mar 31, 2024

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Current Portfolio Date May 16, 2024
Equity Holdings —
Bond Holdings —
Other Holdings —
% Assets in Top 10 Holdings 41.0

Top 10 Holdings	% Portfolio Weight	Market Value USD	Sector
GUAM GOVT BUSINESS PRIVILEGE TAX REV 5%	5.53	1.3 Mil	municipal
VICTORVILLE CALIF ELEC REV 5%	4.57	1.1 Mil	municipal
CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5.5%	4.55	1.1 Mil	municipal
GUAM PWR AUTH REV 5%	4.28	1.0 Mil	municipal
MODESTO CALIF IRR DIST FING AUTH ELEC SYS REV 5%	4.23	1.0 Mil	municipal
LOS ANGELES CALIF DEPT ARPTS ARPT REV 5%	4.19	1.0 Mil	municipal
CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 4%	4.14	999,713	municipal
COMPTON CALIF UNI SCH DIST 5%	3.31	798,888	municipal
CALIFORNIA INFRASTRUCTURE & ECONOMIC DEV BK REV 4.01583%	3.11	750,082	municipal
KERN CALIF CMNTY COLLEGE DIST 5%	3.05	735,478	municipal

IQ MacKay California Mncpl Intmdt ETF MMCA

Morningstar’s Analysis MMCA

Will MMCA outperform in future?

Process Pillar

People Pillar

Parent Pillar

IQ MacKay California Mncpl Intmdt ETF’s Process Pillar rating is Average, but a strong management team still helps this strategy retain its Morningstar Medalist Rating of Bronze.

Summary

Portfolio Holdings MMCA

GUAM GOVT BUSINESS PRIVILEGE TAX REV 5%

VICTORVILLE CALIF ELEC REV 5%

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5.5%

GUAM PWR AUTH REV 5%

MODESTO CALIF IRR DIST FING AUTH ELEC SYS REV 5%

LOS ANGELES CALIF DEPT ARPTS ARPT REV 5%

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 4%

COMPTON CALIF UNI SCH DIST 5%

CALIFORNIA INFRASTRUCTURE & ECONOMIC DEV BK REV 4.01583%

KERN CALIF CMNTY COLLEGE DIST 5%

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Morningstar’s Analysis MMCA

Will MMCA outperform in future?

Process Pillar

People Pillar

Parent Pillar

IQ MacKay California Mncpl Intmdt ETF’s Process Pillar rating is Average, but a strong management team still helps this strategy retain its Morningstar Medalist Rating of Bronze.

Summary

Portfolio Holdings MMCA

GUAM GOVT BUSINESS PRIVILEGE TAX REV 5%

VICTORVILLE CALIF ELEC REV 5%

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 5.5%

GUAM PWR AUTH REV 5%

MODESTO CALIF IRR DIST FING AUTH ELEC SYS REV 5%

LOS ANGELES CALIF DEPT ARPTS ARPT REV 5%

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 4%

COMPTON CALIF UNI SCH DIST 5%

CALIFORNIA INFRASTRUCTURE & ECONOMIC DEV BK REV 4.01583%

KERN CALIF CMNTY COLLEGE DIST 5%

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