Fund Description
The Fund is an actively managed ETF and thus does not seek to replicate the performance of a specific index. Instead, the Fund uses an active management strategy to meet its investment objective. Consequently, investors should not expect the Fund s returns to track the returns of any index or market for any period of time. The Fund, under normal circumstances, invests at least 80% of its assets (net assets plus any borrowings for investment purposes) in municipal bonds, whose interest is, in the opinion of bond counsel for the issuers at the time of issuance, exempt from federal and California income taxes. Municipal bonds are generally debt obligations issued by or on behalf of states, territories and possessions of the United States, and their political subdivisions, agencies and instrumentalities that provide income free from federal, state and potentially local income taxes. If the interest on a particular municipal bond is exempt from federal and California income taxes, the Fund will treat the bond as qualifying for purposes of the 80% policy even though the issuer of the bond may be located outside of California.
Fund Profile
Fund Name IQ MacKay California Municipal Intermediate ETF
Fund Exchange Ticker MMCA
Fund Sponsor Index IQ
Fund ISIN US45409F7776
Net Expense Ratio 0.36 %
Fund Inception Date 21 December 2021
Fund Legal Structure ETF (Open end fund)
Exchange NYSE Arca
Listing Country Code US
Fund Investment Objective
ETF Type Specific Bonds - Municipal
Asset Class Bonds
Index Linked Active
Index Name Not Applicable
Index Provider Not Applicable
Currency Hedged No
Inverse / Leveraged Not Applicable
Developed / Emerging Developed Market Funds
Bond Type Municipal
Credit Quality Investment Grade Only
Average Maturity Fund Holds All Maturity Ranges
Bond Currency Denomination USD
Key Statistics
Return As of Date 28 June 2022
Asset Under Management 43.88 Million (USD)
1 Month Total Return -3.10 %
Year To Date Return -13.54 %
1 Year Total Return
3 Year Annualized Total Return
NAV 21.403
Share Outstanding 2,050,000
Top 10 Holdings (28 June 2022)
Constituent Name Constituent Ticker Constituent Type Weighting
RESTRUCTURED-SER A1 BOND 5.611684661200438e-05
RESTRUCTURED-SER A1 BOND 5.565742723255593e-05
RESTRUCTURED-SER A1 5.25 7/1/2023 BOND 5.3754802034631784e-05
RESTRUCTURED-SER A1 BOND 4.364939877954152e-05
RESTRUCTURED-SER A1 4 7/1/2046 BOND 4.269637703110233e-05
RESTRUCTURED-SER A1 4 7/1/2041 BOND 4.2322187238912674e-05
RESTRUCTURED-SER A1 BOND 3.8467485451526514e-05
RESTRUCTURED-CABS-SER 0 7/1/2033 BOND 3.438398552080392e-05
RESTRUCTURED-SER A1 BOND 3.238268542640101e-05
RESTRUCTURED-CABS-SER BOND 2.239669474811183e-05