MMD vs VALQ

Comparison between MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD, ETF) and AMERICAN CENTURY U.S. QUALITY VALUE ETF (VALQ, ETF).

5-Year PerformanceVALQ has outperformed MMD, delivering a return of +8.4% compared to -2.7%

MMD vs VALQ - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	MMD(ETF)	VALQ(ETF)
Net Assets	$307M	$306M
Expense Ratio	N/A	0.29%
Max Drawdown	39.44%	38.19%
Sharpe Ratio	0.88	0.98
5Y Beta	0.17	0.69
P/E Ratio	N/A	19.57
Forward P/E	N/A	15.50
PEG Ratio	N/A	0.50
5Y Dividends CAGR	-4.51%	10.43%
5Y EPS CAGR	N/A	12.20%
Debt to Equity	N/A	78.11%
P/S Ratio	N/A	1.94
P/B Ratio	N/A	4.37

Net Assets

Winner

MMD

$307M

VALQ

$306M

Expense Ratio

MMD

N/A

VALQ

0.29%

Max Drawdown

MMD

39.44%

Winner

VALQ

38.19%

Sharpe Ratio

MMD

0.88

Winner

VALQ

0.98

5Y Beta

Winner

MMD

0.17

VALQ

0.69

P/E Ratio

MMD

N/A

VALQ

19.57

Forward P/E

MMD

N/A

VALQ

15.50

PEG Ratio

MMD

N/A

VALQ

0.50

5Y Dividends CAGR

MMD

-4.51%

Winner

VALQ

10.43%

5Y EPS CAGR

MMD

N/A

VALQ

12.20%

Debt to Equity

MMD

N/A

VALQ

78.11%

P/S Ratio

MMD

N/A

VALQ

1.94

P/B Ratio

MMD

N/A

VALQ

4.37

MMD vs VALQ - Historical Returns

Returns include dividend reinvestment.

Period	MMD	VALQ
1 month	+2.26%	+3.52%
3 months	+0.34%	+1.47%
6 months	+5.00%	+4.62%
1 year	+10.83%	+15.38%
5 years(CAGR)	-2.72%	+8.44%
10 years(CAGR)	+2.35%	+8.72%
Max(CAGR)	+3.76%	+8.72%

MMD

+2.26%

Winner

VALQ

+3.52%

MMD

+0.34%

Winner

VALQ

+1.47%

Winner

MMD

+5.00%

VALQ

+4.62%

MMD

+10.83%

Winner

VALQ

+15.38%

5Y(CAGR)

MMD

-2.72%

Winner

VALQ

+8.44%

10Y(CAGR)

MMD

+2.35%

Winner

VALQ

+8.72%

Max(CAGR)

MMD

+3.76%

Winner

VALQ

+8.72%

MMD vs VALQ - Annual Returns (2012 - 2026)

Returns include dividend reinvestment.

Year	MMD	VALQ
2026	+4.51%	+4.01%
2025	+3.28%	+10.83%
2024	-4.81%	+16.88%
2023	+4.24%	+13.99%
2022	-20.66%	-7.93%
2021	+4.65%	+28.72%
2020	+8.58%	+0.66%
2019	+12.10%	+24.50%
2018	+3.95%	-10.45%
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 VALQ 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 VALQ was -38.19%, occurring on Mar 23, 2020. Recovery took 227 trading sessions.

The current MMD drawdown is -16.00%. The current VALQ drawdown is -1.50%.

Rank	MMD	VALQ
#1	-30.12% Aug 9, 2021 - Oct 27, 2023	-38.19% Feb 12, 2020 - Jan 6, 2021
#2	-25.16% Jan 11, 2013 - Oct 17, 2014	-20.19% Apr 20, 2022 - Dec 11, 2023
#3	-24.57% Feb 13, 2020 - Dec 2, 2020	-18.24% Sep 20, 2018 - Sep 11, 2019
#4	-11.66% Jul 7, 2016 - May 31, 2017	-15.62% Feb 19, 2025 - Aug 13, 2025
#5	-8.45% Apr 23, 2015 - Nov 23, 2015	-9.45% Jan 26, 2018 - Aug 17, 2018
#6	-6.58% Dec 14, 2017 - Jul 16, 2018	-8.36% Jan 4, 2022 - Apr 20, 2022
#7	-6.20% Dec 12, 2012 - Jan 11, 2013	-7.85% Feb 6, 2026 - Jun 1, 2026
#8	-5.57% Sep 10, 2018 - Dec 14, 2018	-6.61% Mar 28, 2024 - Jul 16, 2024
#9	-5.40% Feb 9, 2021 - Apr 13, 2021	-6.11% Dec 2, 2024 - Feb 19, 2025
#10	-5.09% Sep 15, 2017 - Dec 7, 2017	-5.70% Sep 2, 2021 - Nov 12, 2021
#11	-3.90% Feb 5, 2015 - Apr 14, 2015	-5.30% Nov 15, 2021 - Dec 23, 2021
#12	-3.56% Dec 14, 2018 - Feb 7, 2019	-5.02% Jul 16, 2024 - Aug 19, 2024
#13	-3.54% May 11, 2016 - Jun 22, 2016	-4.62% Oct 27, 2025 - Nov 28, 2025
#14	-3.54% May 27, 2021 - Jul 28, 2021	-4.24% Jan 17, 2020 - Feb 12, 2020
#15	-3.28% Nov 11, 2014 - Dec 30, 2014	-4.01% May 10, 2021 - Jul 23, 2021

Correlation

Correlation between MMD and VALQ is 0.11 which considered as a very weak or no correlation - the stocks move independently of each other.

0.11

-101

Dividend Comparison (2012 - 2026)

MMD vs VALQ dividend yield comparison.

Year	MMD	VALQ
2026	2.16%	0.30%
2025	4.84%	1.88%
2024	4.82%	1.58%
2023	5.26%	1.76%
2022	6.35%	2.71%
2021	4.68%	1.58%
2020	4.68%	2.08%
2019	4.85%	2.31%
2018	5.38%	2.35%
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%