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MMIT is actively managed to provide current income, exempt from federal income tax, via investing 80% of its assets in investment-grade municipal bonds. The funds subadvisor considers macroeconomic factors such as tax rates, treasury rates, regulatory, technical factors, and other global economic data. In addition, certain ESG criteria may also be considered for evaluation. Based on this assessment, the manager employs fundamental analysis among various sectors and states to select individual muni bonds with no single state making up 30% of the total investment. The fund aims to maintain a dollar-weighted average duration of 3 to 10 years. As an actively managed fund, MMIT may make certain investment decisions at its discretion to meet its objectives. Prior to Aug. 28, 2024, the fund name was branded under IndexIQ.
| Symbol | Name | Weight | Market Value |
|---|---|---|---|
| — | DREYFUS GOVT CASH MAN INS | 2.51% | $36.76M |
| — | New York N Y Var 01-feb-2055 | 1.02% | $15.00M |
| — | Puerto Rico Sales Tax Fing Corp Sales Tax Rev 4.329% 01-jul-2040 | 1.01% | $14.83M |
| — | Los Angeles Calif Dept Wtr & Pwr Rev 5.0% 01-jul-2041 | 0.93% | $13.58M |
| — | Minnesota Mun Gas Agy Gas Proj Rev 5.0% 01-sep-2035 | 0.90% | $13.26M |
| — | Hudson Yds Infrastructure Corp N Y Second Indenture Rev 5.0% 15-feb-2042 | 0.90% | $13.26M |
| — | Pennsylvania Hsg Fin Agy Single Family Mtg Rev 3.0% 01-oct-2051 | 0.86% | $12.68M |
| — | Black Belt Energy Gas Dist Ala Gas Proj Rev Var 01-oct-2052 | 0.62% | $9.15M |
| — | Springfield Ill Elec Rev 5.0% 01-mar-2032 | 0.62% | $9.08M |
| — | Chicago Ill Brd Ed Dedicated Cap Impt 6.0% 01-apr-2046 | 0.59% | $8.60M |
| — | Phoenix Ariz Indl Dev Auth Lease Rev 5.0% 31-oct-2044 | 0.58% | $8.48M |
| — | Kentucky Inc Ky Pub Energy Auth Gas Suplly Rev Var 01-jan-2055 | 0.53% | $7.80M |
| — | Main Str Nat Gas Inc Ga Gas Supply Rev Var 01-may-2055 | 0.52% | $7.66M |
| — | National Fin Auth N H Mun Ctfs Var 20-jul-2041 | 0.48% | $7.03M |
| — | Main Str Nat Gas Inc Ga Gas Supply Rev Var 01-dec-2052 | 0.48% | $7.01M |
| — | Southern Calif Pub Pwr Auth Southn Transmissionsys Renewal Proj Rev 5.0% 01-jul-2042 | 0.46% | $6.82M |
| — | Black Belt Energy Gas Dist Ala Gas Proj Rev 5.0% 01-dec-2035 | 0.46% | $6.80M |
| — | Parker Cnty Tex 5.0% 15-feb-2042 | 0.45% | $6.67M |
| — | Tarrant Cnty Tex Cultural Ed Facs Fin Corp Rev Var 15-nov-2064 | 0.45% | $6.58M |
| — | Southeast Energy Auth Coop Dist Ala Energy Supply Rev Var 01-may-2055 | 0.44% | $6.49M |
| — | Illinois Hsg Dev Auth Rev 6.0% 01-oct-2055 | 0.44% | $6.44M |
| — | Patriots Energy Group Fing Agy S C Gas Supply Rev Var 01-feb-2054 | 0.42% | $6.23M |
| — | National Fin Auth N H Mun Ctfs Var 20-nov-2042 | 0.42% | $6.21M |
| — | Brownsburg Ind 1999 Sch Bldg Corp 5.5% 15-jul-2041 | 0.42% | $6.13M |
| — | Energy Southeast Ala Coop Dist Energy Supply Rev 5.0% 01-sep-2033 | 0.42% | $6.11M |