MMD vs REVS

Comparison between MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD, ETF) and COLUMBIA RESEARCH ENHANCED VALUE ETF (REVS, ETF).

5-Year PerformanceREVS has outperformed MMD, delivering a return of +12.3% compared to -2.4%

MMD vs REVS - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	MMD(ETF)	REVS(ETF)
Net Assets	$310M	$310M
Expense Ratio	N/A	0.19%
Max Drawdown	39.44%	37.85%
Sharpe Ratio	0.73	1.72
5Y Beta	0.17	0.70
P/E Ratio	N/A	20.92
Forward P/E	N/A	15.29
5Y Dividends CAGR	-4.15%	-26.00%
5Y EPS CAGR	N/A	12.25%
Debt to Equity	N/A	59.76%
P/S Ratio	N/A	1.43
P/B Ratio	N/A	2.98

Net Assets

MMD

$310M

Winner

REVS

$310M

Expense Ratio

MMD

N/A

REVS

0.19%

Max Drawdown

MMD

39.44%

Winner

REVS

37.85%

Sharpe Ratio

MMD

0.73

Winner

REVS

1.72

5Y Beta

Winner

MMD

0.17

REVS

0.70

P/E Ratio

MMD

N/A

REVS

20.92

Forward P/E

MMD

N/A

REVS

15.29

5Y Dividends CAGR

Winner

MMD

-4.15%

REVS

-26.00%

5Y EPS CAGR

MMD

N/A

REVS

12.25%

Debt to Equity

MMD

N/A

REVS

59.76%

P/S Ratio

MMD

N/A

REVS

1.43

P/B Ratio

MMD

N/A

REVS

2.98

MMD vs REVS - Historical Returns

Returns include dividend reinvestment.

Period	MMD	REVS
1 month	-0.28%	+3.12%
3 months	+1.53%	+8.51%
6 months	+2.57%	+12.44%
1 year	+10.15%	+25.36%
5 years(CAGR)	-2.36%	+12.34%
10 years(CAGR)	+2.15%	N/A
Max(CAGR)	+3.75%	+13.28%

MMD

-0.28%

Winner

REVS

+3.12%

MMD

+1.53%

Winner

REVS

+8.51%

MMD

+2.57%

Winner

REVS

+12.44%

MMD

+10.15%

Winner

REVS

+25.36%

5Y(CAGR)

MMD

-2.36%

Winner

REVS

+12.34%

10Y(CAGR)

MMD

+2.15%

REVS

N/A

Max(CAGR)

MMD

+3.75%

Winner

REVS

+13.28%

MMD vs REVS - Annual Returns (2012 - 2026)

Returns include dividend reinvestment.

Year	MMD	REVS
2026	+4.87%	+14.81%
2025	+3.28%	+16.91%
2024	-4.81%	+15.82%
2023	+4.24%	+13.26%
2022	-20.66%	-6.33%
2021	+4.65%	+30.07%
2020	+8.58%	+1.13%
2019	+12.10%	+7.21%
2018	+3.95%	N/A
2017	+13.82%	N/A
2016	+2.65%	N/A
2015	+9.39%	N/A
2014	+20.47%	N/A
2013	-17.78%	N/A
2012	+4.83%	N/A

MMD vs REVS Drawdown Comparison

The maximum drawdown for MMD was -30.12%, occurring on Oct 27, 2023. This drawdown has not yet recovered.

The maximum drawdown for REVS was -37.85%, occurring on Mar 23, 2020. Recovery took 227 trading sessions.

The current MMD drawdown is -15.70%. The current REVS drawdown is -0.61%.

Rank	MMD	REVS
#1	-30.12% Aug 9, 2021 - Oct 27, 2023	-37.85% Feb 12, 2020 - Jan 6, 2021
#2	-25.16% Jan 11, 2013 - Oct 17, 2014	-18.04% Apr 20, 2022 - Jul 18, 2023
#3	-24.57% Feb 13, 2020 - Dec 2, 2020	-16.33% Nov 29, 2024 - Jul 1, 2025
#4	-11.66% Jul 7, 2016 - May 31, 2017	-11.26% Jul 26, 2023 - Dec 14, 2023
#5	-8.45% Apr 23, 2015 - Nov 23, 2015	-6.94% Feb 9, 2026 - Apr 17, 2026
#6	-6.58% Dec 14, 2017 - Jul 16, 2018	-6.86% Jan 12, 2022 - Mar 29, 2022
#7	-6.20% Dec 12, 2012 - Jan 11, 2013	-6.03% Nov 12, 2021 - Dec 27, 2021
#8	-5.57% Sep 10, 2018 - Dec 14, 2018	-5.66% Mar 28, 2024 - Jul 15, 2024
#9	-5.40% Feb 9, 2021 - Apr 13, 2021	-5.55% Jul 30, 2024 - Aug 23, 2024
#10	-5.09% Sep 15, 2017 - Dec 7, 2017	-4.86% Jun 4, 2021 - Aug 10, 2021
#11	-3.90% Feb 5, 2015 - Apr 14, 2015	-4.61% Oct 27, 2025 - Nov 28, 2025
#12	-3.56% Dec 14, 2018 - Feb 7, 2019	-4.58% Aug 27, 2021 - Oct 20, 2021
#13	-3.54% May 11, 2016 - Jun 22, 2016	-4.36% Jan 20, 2021 - Feb 5, 2021
#14	-3.54% May 27, 2021 - Jul 28, 2021	-3.63% Sep 25, 2019 - Oct 21, 2019
#15	-3.28% Nov 11, 2014 - Dec 30, 2014	-3.44% Jan 17, 2020 - Feb 11, 2020

Correlation

Correlation between MMD and REVS is -0.25 which considered as a very weak or no correlation - the stocks move independently of each other.

-0.25

-101

Dividend Comparison (2012 - 2026)

MMD vs REVS dividend yield comparison.

Year	MMD	REVS
2026	3.06%	0.00%
2025	4.84%	2.13%
2024	4.82%	1.89%
2023	5.26%	2.49%
2022	6.35%	2.46%
2021	4.68%	1.18%
2020	4.68%	27.75%
2019	4.85%	0.70%
2018	5.38%	0.00%
2017	5.45%	0.00%
2016	6.16%	0.00%
2015	6.25%	0.00%
2014	6.39%	0.00%
2013	9.50%	0.00%
2012	2.86%	0.00%