MMD vs USMF

Comparison between MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD, ETF) and WISDOMTREE U.S. MULTIFACTOR FUND (USMF, ETF).

5-Year PerformanceUSMF has outperformed MMD, delivering a return of +7.4% compared to -2.7%

MMD vs USMF - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	MMD(ETF)	USMF(ETF)
Net Assets	$310M	$310M
Expense Ratio	N/A	0.28%
Max Drawdown	39.44%	36.24%
Sharpe Ratio	0.60	0.13
5Y Beta	0.17	0.69
P/E Ratio	N/A	25.70
Forward P/E	N/A	17.48
PEG Ratio	N/A	0.14
5Y Dividends CAGR	-4.15%	15.79%
5Y EPS CAGR	N/A	21.90%
Debt to Equity	N/A	69.34%
P/S Ratio	N/A	1.87
P/B Ratio	N/A	3.95

Net Assets

MMD

$310M

Winner

USMF

$310M

Expense Ratio

MMD

N/A

USMF

0.28%

Max Drawdown

MMD

39.44%

Winner

USMF

36.24%

Sharpe Ratio

Winner

MMD

0.60

USMF

0.13

5Y Beta

Winner

MMD

0.17

USMF

0.69

P/E Ratio

MMD

N/A

USMF

25.70

Forward P/E

MMD

N/A

USMF

17.48

PEG Ratio

MMD

N/A

USMF

0.14

5Y Dividends CAGR

MMD

-4.15%

Winner

USMF

15.79%

5Y EPS CAGR

MMD

N/A

USMF

21.90%

Debt to Equity

MMD

N/A

USMF

69.34%

P/S Ratio

MMD

N/A

USMF

1.87

P/B Ratio

MMD

N/A

USMF

3.95

MMD vs USMF - Historical Returns

Returns include dividend reinvestment.

Period	MMD	USMF
1 month	-1.59%	-0.79%
3 months	+0.66%	+3.32%
6 months	+1.02%	+3.00%
1 year	+9.16%	+4.07%
5 years(CAGR)	-2.74%	+7.43%
10 years(CAGR)	+2.05%	+10.30%
Max(CAGR)	+3.66%	+10.30%

MMD

-1.59%

Winner

USMF

-0.79%

MMD

+0.66%

Winner

USMF

+3.32%

MMD

+1.02%

Winner

USMF

+3.00%

Winner

MMD

+9.16%

USMF

+4.07%

5Y(CAGR)

MMD

-2.74%

Winner

USMF

+7.43%

10Y(CAGR)

MMD

+2.05%

Winner

USMF

+10.30%

Max(CAGR)

MMD

+3.66%

Winner

USMF

+10.30%

MMD vs USMF - Annual Returns (2012 - 2026)

Returns include dividend reinvestment.

Year	MMD	USMF
2026	+3.49%	+4.04%
2025	+3.28%	+4.59%
2024	-4.81%	+19.52%
2023	+4.24%	+13.88%
2022	-20.66%	-8.76%
2021	+4.65%	+22.46%
2020	+8.58%	+11.53%
2019	+12.10%	+24.74%
2018	+3.95%	-4.54%
2017	+13.82%	+11.27%
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 USMF 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 USMF was -36.24%, occurring on Mar 23, 2020. Recovery took 137 trading sessions.

The current MMD drawdown is -16.81%. The current USMF drawdown is -2.78%.

Rank	MMD	USMF
#1	-30.12% Aug 9, 2021 - Oct 27, 2023	-36.24% Feb 19, 2020 - Sep 2, 2020
#2	-25.16% Jan 11, 2013 - Oct 17, 2014	-19.07% Sep 14, 2018 - Jul 3, 2019
#3	-24.57% Feb 13, 2020 - Dec 2, 2020	-18.11% Jan 4, 2022 - Dec 4, 2023
#4	-11.66% Jul 7, 2016 - May 31, 2017	-15.39% Nov 26, 2024 - Sep 11, 2025
#5	-8.45% Apr 23, 2015 - Nov 23, 2015	-8.63% Jan 29, 2018 - Jun 8, 2018
#6	-6.58% Dec 14, 2017 - Jul 16, 2018	-7.91% Sep 2, 2020 - Oct 13, 2020
#7	-6.20% Dec 12, 2012 - Jan 11, 2013	-6.90% Oct 13, 2020 - Nov 16, 2020
#8	-5.57% Sep 10, 2018 - Dec 14, 2018	-6.46% Sep 29, 2025 - May 8, 2026
#9	-5.40% Feb 9, 2021 - Apr 13, 2021	-5.94% Nov 12, 2021 - Dec 27, 2021
#10	-5.09% Sep 15, 2017 - Dec 7, 2017	-5.63% Mar 28, 2024 - Jul 16, 2024
#11	-3.90% Feb 5, 2015 - Apr 14, 2015	-5.51% Jul 31, 2024 - Aug 16, 2024
#12	-3.56% Dec 14, 2018 - Feb 7, 2019	-5.18% Jul 12, 2019 - Oct 28, 2019
#13	-3.54% May 11, 2016 - Jun 22, 2016	-4.99% Feb 12, 2021 - Mar 11, 2021
#14	-3.54% May 27, 2021 - Jul 28, 2021	-4.66% Sep 2, 2021 - Oct 22, 2021
#15	-3.28% Nov 11, 2014 - Dec 30, 2014	-4.08% Jun 11, 2021 - Jul 29, 2021

Correlation

Correlation between MMD and USMF is 0.24 which considered as a very weak or no correlation - the stocks move independently of each other.

0.24

-101

Dividend Comparison (2012 - 2026)

MMD vs USMF dividend yield comparison.

Year	MMD	USMF
2026	3.10%	0.67%
2025	4.84%	1.37%
2024	4.82%	1.22%
2023	5.26%	1.33%
2022	6.35%	1.74%
2021	4.68%	1.42%
2020	4.68%	1.34%
2019	4.85%	1.38%
2018	5.38%	1.45%
2017	5.45%	0.67%
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%