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Morningstar

IQ MacKay California Mncpl Intmdt ETF MMCA

Morningstar Analyst Rating
Quantitative rating as of | See New York Life Investment Hub

Morningstar’s Analysis MMCA

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.

Summary

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IQ MacKay California Mncpl Intmdt ETF’s Process Pillar rating is just average, but a strong management team still helps this strategy retain its Morningstar Quantitative Rating of Bronze. The portfolio maintains a cost advantage over competitors, priced within the cheapest fee quintile among peers. The strategy changed its peer group last December, moving from the Muni California Long category to the Muni California Intermediate Morningstar Category.

Unlock our full analysis with Morningstar Investor

Portfolio Holdings MMCA

More MMCA Holdings
  • Current Portfolio Date Mar 20, 2023
  • Equity Holdings 0
  • Bond Holdings 57
  • Other Holdings 1
  • % Assets in Top 10 Holdings 28.3
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REV 4%

3.94
1,978,465
municipal

SAN JOSE CALIF ARPT REV 5%

3.26
1,635,901
municipal

ONTARIO CALIF INTL ARPT AUTH REV 5%

2.90
1,457,300
municipal

CALIFORNIA HEALTH FACS FING AUTH REV 5%

2.86
1,437,370
municipal

MT DIABLO CALIF UNI SCH DIST 4%

2.75
1,380,107
municipal

TORRANCE CALIF UNI SCH DIST 4.25%

2.73
1,373,060
municipal

GUAM GOVT BUSINESS PRIVILEGE TAX REV 5%

2.64
1,326,926
municipal

SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN INTL ARPT REV 5.5%

2.49
1,252,257
municipal

SOUTHERN CALIF PUB PWR AUTH REV 5%

2.45
1,231,155
municipal

LOS ANGELES CALIF MUN IMPT CORP LEASE REV 5%

2.31
1,158,468
municipal