MMSB — IQ MacKay Multi-Sector Income ETF

MMSB Fund Overview

MMSB — IQ MacKay Multi-Sector Income ETF is a US ETF managed by New York Life Investments Active ETF Trust, categorised as Total / Aggregate Bond. ABC INVEST provides holdings, performance, costs, cashflows, risk data, prospectus documents and SEC filings, sourced from SEC filings.

• Type: US ETF
• Manager: New York Life Investments Active ETF Trust
• Category: Total / Aggregate Bond
• Assets under management: $22.38M
• 1-year return: 1.9%
• Ticker: MMSB
• SEC CIK: 0001426439
• SEC series ID: S000076613
• Share class ID: C000236602

MMSB Investment Objective and Strategy

IQ MacKay Multi-Sector Income ETF describes its objective and strategy as follows, from its latest prospectus filed with the SEC by New York Life Investments Active ETF Trust.

Investment objective

The IQ MacKay Multi-Sector Income ETF (the Fund) seeks to maximize current income and long-term capital appreciation.

Principal investment strategy

The Fund seeks to achieve its investment objective primarily through a flexible multisector investment process that allocates investments across the global fixed-income markets. The Fund, under normal circumstances, invests at least 80% of its assets in a diversified portfolio of debt or debt-related securities such as: debt or debt-related securities issued or guaranteed by the U.S. or foreign governments, their agencies or instrumentalities; obligations of international or supranational entities; debt or debt-related securities issued by U.S. or foreign corporate entities; zero coupon bonds; municipal bonds; mortgage-related and other asset-backed securities; bank loans; loan participation interests; convertible bonds; contingent convertible securities (CoCos); variable or floating rate debt securities; preferred securities; and hybrid instruments.

The Fund may invest up to 60% of its assets in debt instruments that are rated below investment grade by a nationally recognized statistical rating organization (NRSRO) (such securities rated lower than BBB- and Baa3), or, if unrated, judged to be of comparable quality by the Subadvisor. Securities that are rated below investment grade by NRSROs are commonly referred to as high-yield securities or junk bonds. If NRSROs assign different ratings to the same security, the Fund will use the higher rating for purposes of determining the instruments credit quality. The securities may be denominated in U.S. or foreign currencies, and may have fixed, variable, floating or inverse floating rates of interest. The Fund may invest without limitation in securities of foreign issuers and may invest up to 20% of its assets in emerging market issuers.

Up to 20% of the Funds assets may be exposed to non-US currency risk. Generally, an issuer of a security is considered to be U.S. or foreign based on the issuers country of risk, as determined by a third-party service provider, such as Bloomberg. The currency exposure of non-U.S. investments may or may not be hedged. The Fund may invest up to 5% of its total assets in exchange-traded funds and other exchange-traded vehicles, mutual funds and closed-end funds. The Fund intends to invest in a broad array of fixed-income sectors to achieve its investment objective. The Fund will not be constrained by portfolio management relative to an index. Because the Fund does not track a fixed-income index, its performance may vary at times and demonstrate low correlation to traditional fixed-income indices.

The Fund will generally seek to maintain a portfolio modified duration to worst that does not exceed the duration of the Bloomberg Barclays U.S. Universal Index by more than 1 year. Duration is a measure used to determine the sensitivity of a securitys price to changes in interest rates. The longer a securitys duration, the more sensitive it will be to changes in interest rates. The Fund may invest in derivatives, such as futures, forwards, options, forward commitments and swap agreements, including interest rate, total return and credit default swaps to seek to enhance returns or reduce the risk of loss by hedging certain of its holdings or manage duration. The Fund may invest in mortgage dollar rolls, to-be-announced (TBA) securities transactions, variable rate notes and floating rate notes.

The Fund may purchase or sell securities on a when-issued, delayed delivery or forward commitment basis. The Fund may, without limitation, seek to obtain market exposure to the securities in which it primarily invests by entering into a series of purchase and sale contracts or by using other investment techniques (such as buy backs or dollar rolls). Investment Process: MacKay Shields LLC (the Subadvisor) seeks to identify investment opportunities through an investment process focused on macroeconomic analysis and bottom-up security selection. The Subadvisor allocates the Funds investments among various fixed income sectors and other securities and investments based on current and projected economic and market conditions. The Fund may invest across fixed income sectors, geographies and credit qualities, and in additional types of securities and investments.

The Subadvisors investment process includes a risk analysis that gives consideration to a variety of security-specific risks, including but not limited to, environmental, social and governance (ESG) risks that may have a material impact on the performance of a security. In addition to proprietary research, the Subadvisor may use screening tools and, to the extent available, third-party data to identify ESG risk factors that may not have been captured through its own research. The Subadvisors consideration of ESG risk is weighed against other criteria and no sectors or industries are explicitly excluded from the Fund. The Subadvisor may sell a security if it believes the security will no longer contribute to meeting the investment objective of the Fund. In considering whether to sell a security, the Subadvisor may evaluate, among other things, the condition of the domestic and foreign economies, and meaningful changes in the issuers financial condition, including changes in the issuers credit risk and competitiveness.

MMSB Performance

Total returns for MMSB (as of 2026-10-01), from SEC filings.

MMSB Risk Information

Risk metrics for MMSB, derived from monthly returns in SEC filings.

• 1-year volatility (annualised): 7.9%

MMSB Costs and Fees

MMSB costs about $40 per $10,000 invested per year in fund expenses.

• Net expense ratio: 0.40%
• Gross expense ratio: 0.74%
• Portfolio turnover: 131%
• Brokerage commissions: 0.24 bps of average net assets (SEC N-CEN)

MMSB Cashflows

Over the 12 months to 2023-10, IQ MacKay Multi-Sector Income ETF had net inflows of $0, from monthly SEC N-PORT filings.

MMSB Debt Constituents

No individual debt constituents are reported in IQ MacKay Multi-Sector Income ETF's latest SEC N-PORT filing.

MMSB Prospectus and SEC Filings

Official IQ MacKay Multi-Sector Income ETF filings on SEC EDGAR — prospectus, portfolio holdings and annual reports.

• Prospectus (485BPOS) — filed 2023-08-28
• Prospectus (485BPOS) — filed 2022-06-29
• Portfolio holdings (N-PORT) — filed 2023-12-20
• Portfolio holdings (N-PORT) — filed 2023-09-27
• Portfolio holdings (N-PORT) — filed 2023-06-22
• Annual census (N-CEN) — filed 2023-07-11

Related Funds

Other Total / Aggregate Bond funds tracked on ABC INVEST:

• FormulaFolios Tactical Income ETF (FFTI)
• DriveWealth Steady Saver ETF (STBL)
• DriveWealth Power Saver ETF (EERN)
• WBI BullBear Global Income ETF (WBII)
• Rimrock Core Bond Fund (RMRKX)

Data Sources

ABC INVEST compiles this page from public filings made to the U.S. Securities and Exchange Commission (SEC) through EDGAR: portfolio holdings and monthly cashflows from Form N-PORT, expenses and returns from fund prospectuses (Form 485BPOS) and the SEC DERA Risk/Return Summary data sets, annual data from Form N-CEN, and shareholder reports from Form N-CSR.