MMIT Fees and Costs — NYLI MacKay Muni Intermediate ETF
Data updated: 2026-09-25
The net expense ratio is 0.30%: a 0.40% management fee plus 0.06% other expenses, less a 0.16% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 32%.
MMIT Fees and Expenses
Annual operating expenses and sales charges of MMIT. Prospectus, as of August 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.06% |
| Gross expense ratio | 0.46% |
| Fee waiver | −0.16% |
| Net expense ratio | 0.30% |
| Sales charges | |
|---|---|
| Max front load | — |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
MMIT Costs Over Time
On $10,000 invested in MMIT, assuming 5% a year before costs, total costs come to $190 over 5 years, cutting the return by 0.31% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.30%) | $32 | $99 | $173 |
| Lost growth on money paid in costs | $0 | $5 | $17 |
| Total costs | $32 | $104 | $190 |
| Value after costs | $10,468 | $11,472 | $12,573 |
| Impact on return, per year | 0.31% | 0.31% | 0.31% |
MMIT Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending April 30, 2026.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $1.4B
- Portfolio turnover (prospectus): 32%
- Securities lending: none during the year
MMIT Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $194.6M | 19.12% |
| BOFA SECURITIES, INC. | $127.8M | 12.55% |
| STIFEL FINANCIAL CORP. | $114.5M | 11.24% |
| RBC CAPITAL MARKETS, LLC | $107.3M | 10.54% |
| TD SECURITIES (USA) LLC | $95.2M | 9.35% |
| WELLS FARGO SECURITIES, LLC | $93.9M | 9.22% |
| MORGAN STANLEY & CO. LLC | $86.2M | 8.46% |
| GOLDMAN SACHS & CO. LLC | $82.3M | 8.08% |
| JEFFERIES LLC | $61.1M | 6.00% |
| BARCLAYS CAPITAL, INC. | $55.4M | 5.44% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.