UAE vs MMD

Comparison between ISHARES MSCI UAE ETF (UAE, ETF) and MainStay MacKay DefinedTerm Municipal Opportunities Fund (MMD, ETF).

5-Year PerformanceUAE has outperformed MMD, delivering a return of +10.5% compared to -2.7%

UAE vs MMD - Performance Comparison

Log

Key Characteristics

Financial metrics and valuation ratios

Metric	UAE(ETF)	MMD(ETF)
Net Assets	$309M	$310M
Expense Ratio	0.59%	N/A
Max Drawdown	68.26%	39.44%
Sharpe Ratio	-0.11	0.64
5Y Beta	0.67	0.17
5Y Dividends CAGR	6.32%	-4.15%

Net Assets

UAE

$309M

Winner

MMD

$310M

Expense Ratio

UAE

0.59%

MMD

N/A

Max Drawdown

UAE

68.26%

Winner

MMD

39.44%

Sharpe Ratio

UAE

-0.11

Winner

MMD

0.64

5Y Beta

UAE

0.67

Winner

MMD

0.17

5Y Dividends CAGR

Winner

UAE

6.32%

MMD

-4.15%

UAE vs MMD - Historical Returns

Returns include dividend reinvestment.

Period	UAE	MMD
1 month	-4.07%	-1.59%
3 months	+2.32%	+0.66%
6 months	-4.63%	+1.02%
1 year	-2.00%	+9.16%
5 years(CAGR)	+10.47%	-2.74%
10 years(CAGR)	+4.94%	+2.05%
Max(CAGR)	+1.66%	+3.66%

UAE

-4.07%

Winner

MMD

-1.59%

Winner

UAE

+2.32%

MMD

+0.66%

UAE

-4.63%

Winner

MMD

+1.02%

UAE

-2.00%

Winner

MMD

+9.16%

5Y(CAGR)

Winner

UAE

+10.47%

MMD

-2.74%

10Y(CAGR)

Winner

UAE

+4.94%

MMD

+2.05%

Max(CAGR)

UAE

+1.66%

Winner

MMD

+3.66%

UAE vs MMD - Annual Returns (2012 - 2026)

Returns include dividend reinvestment.

Year	UAE	MMD
2026	+1.55%	+3.49%
2025	+22.17%	+3.28%
2024	+15.42%	-4.81%
2023	+1.82%	+4.24%
2022	-7.21%	-20.66%
2021	+42.05%	+4.65%
2020	-7.81%	+8.58%
2019	-1.30%	+12.10%
2018	-15.13%	+3.95%
2017	+1.84%	+13.82%
2016	+12.76%	+2.65%
2015	-13.32%	+9.39%
2014	-22.36%	+20.47%
2013	N/A	-17.78%
2012	N/A	+4.83%

UAE vs MMD Drawdown Comparison

The maximum drawdown for UAE was -60.51%, occurring on Mar 18, 2020. Recovery took 1968 trading sessions.

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

The current UAE drawdown is -12.23%. The current MMD drawdown is -16.81%.

Rank	UAE	MMD
#1	-60.51% Jun 6, 2014 - Mar 30, 2022	-30.12% Aug 9, 2021 - Oct 27, 2023
#2	-27.43% Apr 4, 2022 - Feb 11, 2025	-25.16% Jan 11, 2013 - Oct 17, 2014
#3	-21.50% Feb 18, 2026 - Mar 20, 2026	-24.57% Feb 13, 2020 - Dec 2, 2020
#4	-11.93% Feb 20, 2025 - Apr 29, 2025	-11.66% Jul 7, 2016 - May 31, 2017
#5	-10.19% May 5, 2014 - Jun 2, 2014	-8.45% Apr 23, 2015 - Nov 23, 2015
#6	-9.12% Jul 25, 2025 - Jan 21, 2026	-6.58% Dec 14, 2017 - Jul 16, 2018
#7	-6.46% Jun 10, 2025 - Jun 24, 2025	-6.20% Dec 12, 2012 - Jan 11, 2013
#8	-2.23% Jun 2, 2014 - Jun 6, 2014	-5.57% Sep 10, 2018 - Dec 14, 2018
#9	-1.39% May 20, 2025 - Jun 10, 2025	-5.40% Feb 9, 2021 - Apr 13, 2021
#10	-1.27% Jul 17, 2025 - Jul 23, 2025	-5.09% Sep 15, 2017 - Dec 7, 2017
#11	-1.25% Jan 28, 2026 - Feb 2, 2026	-3.90% Feb 5, 2015 - Apr 14, 2015
#12	-1.09% May 13, 2025 - May 16, 2025	-3.56% Dec 14, 2018 - Feb 7, 2019
#13	-1.02% Jan 22, 2026 - Jan 27, 2026	-3.54% May 11, 2016 - Jun 22, 2016
#14	-0.98% May 6, 2025 - May 13, 2025	-3.54% May 27, 2021 - Jul 28, 2021
#15	-0.96% Feb 11, 2025 - Feb 20, 2025	-3.28% Nov 11, 2014 - Dec 30, 2014

Correlation

Correlation between UAE and MMD is 0.06 which considered as a very weak or no correlation - the stocks move independently of each other.

0.06

-101

Dividend Comparison (2012 - 2026)

UAE vs MMD dividend yield comparison.

Year	UAE	MMD
2026	3.51%	3.10%
2025	4.10%	4.84%
2024	3.32%	4.82%
2023	3.25%	5.26%
2022	2.67%	6.35%
2021	4.88%	4.68%
2020	4.75%	4.68%
2019	3.54%	4.85%
2018	5.56%	5.38%
2017	3.39%	5.45%
2016	4.74%	6.16%
2015	3.77%	6.25%
2014	2.58%	6.39%
2013	0.00%	9.50%
2012	0.00%	2.86%