MMMA Fees and Costs — NYLI MacKay Muni Allocation ETF
Data updated: 2026-09-25
The net expense ratio is 0.35%: a 0.40% management fee plus 0.32% other expenses, less a 0.37% fee waiver. There are no sales loads or redemption fees. Portfolio turnover was 40%.
MMMA Fees and Expenses
Annual operating expenses and sales charges of MMMA. Prospectus, as of August 27, 2026.
| Annual operating expenses | |
|---|---|
| Management fee | 0.40% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.32% |
| Gross expense ratio | 0.72% |
| Fee waiver | −0.37% |
| Net expense ratio | 0.35% |
| 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 |
MMMA Costs Over Time
On $10,000 invested in MMMA, assuming 5% a year before costs, total costs come to $222 over 5 years, cutting the return by 0.37% 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 0.35%) | $37 | $115 | $202 |
| Lost growth on money paid in costs | $0 | $6 | $20 |
| Total costs | $37 | $121 | $222 |
| Value after costs | $10,463 | $11,455 | $12,541 |
| Impact on return, per year | 0.37% | 0.37% | 0.37% |
MMMA 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): $98.7M
- Portfolio turnover (prospectus): 40%
- Securities lending: none during the year
MMMA Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| J.P. Morgan Securities LLC | $25.3M | 30.94% |
| MORGAN STANLEY & CO. LLC | $15.5M | 18.97% |
| WELLS FARGO SECURITIES, LLC | $12.0M | 14.73% |
| BOFA SECURITIES, INC. | $8.7M | 10.70% |
| PIPER SANDLER & CO. | $5.3M | 6.55% |
| FHN FINANCIAL SECURITIES CORP | $3.6M | 4.35% |
| SIEBERT WILLIAMS SHANK & CO LLC | $3.2M | 3.94% |
| D.A. Davidson & Co. | $2.9M | 3.57% |
| GOLDMAN SACHS & CO. LLC | $2.6M | 3.14% |
| JEFFERIES LLC | $2.6M | 3.12% |
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.