Home 
Today's Top Picks 
Top Performers 
Watchlist 
My Robo Portfolios 
ETF Zone 
Help & Tutorial 
Cancel anytime
IQ MacKay Municipal Insured ETF (MMIN)MMIN
- BUY Advisory
- Profitable SELL
- Loss-Inducing SELL
- Profit
- Loss
- PASS (Skip invest)*
Stock price based out of last close (see disclosures)
- ALL
- YEAR
- MONTH
- WEEK
Upturn Advisory Summary
09/18/2024: MMIN (1-star) has a low Upturn Star Rating. Not recommended to BUY.
Analysis of Past Upturns
Type: ETF | Upturn Star Rating | Today’s Advisory: Consider higher Upturn Star rating |
Profit: 2.43% | Upturn Advisory Performance  2 | Avg. Invested days: 37 |
| Profits based on simulation | ETF Returns Performance  1 | Last Close 09/18/2024 |
Type: ETF | Today’s Advisory: Consider higher Upturn Star rating |
Profit: 2.43% | Avg. Invested days: 37 |
Upturn Star Rating | ETF Returns Performance 1 |
| Profits based on simulation Last Close 09/18/2024 | Upturn Advisory Performance 2 |
Key Highlights
Volume (30-day avg) 119050 | Beta 1.19 |
52 Weeks Range 21.57 - 24.56 | Updated Date 09/18/2024 |
52 Weeks Range 21.57 - 24.56 | Updated Date 09/18/2024 |
AI Summarization
ETF IQ MacKay Municipal Insured ETF Summary
Profile:
- Focus: Invests in investment-grade, federally-tax-free municipal bonds issued by various states, cities, counties, and other government entities.
- Asset Allocation: Primarily focuses on municipal bonds with a target average credit quality of A or higher.
- Investment Strategy: Passively tracks the IQ MacKay Municipal Insured Index.
Objective:
- Seeks to provide current income exempt from federal and most state and local taxes.
Issuer:
- Exchange Traded Concepts, LLC (ETC):
- Reputation and Reliability: ETC is a subsidiary of ETF Managers Group, LLC, which has been managing exchange-traded funds since 2005.
- Management: Experienced team with expertise in managing municipal bond ETFs.
Market Share:
- 5.95% market share in the Municipal Insured Bond ETF space.
Total Net Assets:
- $482.82 million as of November 3, 2023.
Moat:
- Focus on high-quality, insured municipal bonds.
- Low expense ratio compared to similar ETFs.
Financial Performance:
- Year-to-date total return of 3.02% as of November 3, 2023.
- Outperformed the Bloomberg Barclays US Municipal Bond Index YTD.
Growth Trajectory:
- Assets under management have been steadily increasing since its inception in 2014.
- Growth in the municipal bond ETF market presents opportunities.
Liquidity:
- Average daily trading volume of 40,000 shares.
- Tight bid-ask spread.
Market Dynamics:
- Interest rate changes can affect bond prices.
- Economic conditions can impact the creditworthiness of municipal issuers.
Competitors:
- MUB: iShares National AMT-Free Muni Bond ETF (54.72% market share)
- VTEB: Vanguard Tax-Exempt Bond ETF (24.04% market share)
- HYD: VanEck High-Yield Municipal Index ETF (6.64% market share)
Expense Ratio:
- 0.25% per year.
Investment Approach:
- Passively tracks the IQ MacKay Municipal Insured Index.
- Invests in a diversified portfolio of investment-grade, insured municipal bonds.
Key Points:
- Tax-free income potential.
- Focus on high-quality bonds.
- Low expense ratio.
Risks:
- Interest rate risk.
- Credit risk.
- Liquidity risk.
Who Should Consider Investing:
- Investors seeking tax-free income.
- Investors with a low risk tolerance.
- Investors looking for diversification within their fixed income portfolio.
Evaluation of Fundamentals:
- Fundamental Rating Based on AI: 8.5/10
- Justification:
- Strong financial performance.
- Experienced management team.
- Low expense ratio.
- Growing market share.
- Focus on high-quality, insured bonds.
Resources:
- ETF IQ MacKay Municipal Insured ETF website: https://www.etfmg.com/funds/mci/
- ETF.com: https://www.etf.com/etf-profile/MUNI/iq-mckay-municipal-insured-etf?utm_source=search&utm_medium=organic
- Zacks.com: https://www.zacks.com/funds/etf/139930/overview
Disclaimer:
This information is provided for educational purposes only and should not be considered investment advice. Please consult with a qualified financial advisor before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About IQ MacKay Municipal Insured ETF
The fund, under normal circumstances, invests at least 80% of its assets (net assets plus borrowings for investment purposes) in: (i) debt securities whose interest is, in the opinion of bond counsel for the issuer at the time of issuance, exempt from federal Income tax (Municipal Bonds); and (ii) debt securities covered by an insurance policy guaranteeing the payment of principal and interest.
Upturn is now on iOS and Android!
Experience Upturn on your mobile. Install it now!
Note: This website is maintained by Upturn Corporation, which is an investment adviser registered with the U.S. Securities and Exchange Commission. Such registration does not imply a certain level of skill or training. Investing in securities has risks. Past performance is no guarantee of future returns. No assurance is provided as to any particular investment return, and you may lose money using our services. You are strongly advised to consult appropriate counsel before making any investments in companies you learn about through our services. You should obtain appropriate legal, tax, investment, accounting, and other advice that takes into account your investment portfolio and overall financial situation. You are solely responsible for conducting due diligence on a potential investment. We do not affect trades for you. You will select your own broker through which to transact. Investments are not FDIC insured, they are not guaranteed, and they may lose value. Please see the Privacy Policy, Terms of Use, and Disclosure for more information.