ETF Evaluator:
NYLI MacKay Securitized Income ETF ()
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(as of Aug 26)
Best Performing in Securitized Bond - Diversified Over the Last Year
| 6.5% | Obra Opportunistic Structured Prdcts ETF (OOSP) |
| 5.6% | iShares Securitized Income Active ETF (SECU) |
| 5.2% | Obra High Grade Structured Products ETF (OGSP) |
| 5.0% | Touchstone Securitized Income ETF (TSEC) |
| 4.8% | Eaton Vance Mortgage Opportunities ETF (EVMO) |
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ETF Details
NYLI MacKay Securitized Income ETF Overview
NYLI MacKay Securitized Income ETF (SECR) is an actively managed Taxable Bond Securitized Bond - Diversified exchange-traded fund (ETF). New York Life Investment Management LLC launched the ETF in 2024.
The investment seeks total return with an emphasis on current income.
The fund, under normal circumstances, invests at least 80% of its assets (net assets plus the amount of any borrowings for investment purposes) in securitized assets, which include commercial mortgage-backed securities (CMBS), asset-backed securities (ABS), agency and non-agency residential mortgage-backed securities (RMBS), collateralized mortgage obligations (CMOs), and collateralized loan obligations (CLOs).
About NYLI MacKay Securitized Income ETF (SECR)
There are 3 members of the management team with an average tenure of 2.17 years: Neil Moriarty (2024), Michael DePalma (2024) and Zach Aronson (2024). Management tenure is more important for actively managed ETFs than passive index ETFs.
The ETF has 2 primary benchmarks: Bloomberg US Agg Bond TR USD index with a weighting of 100% and Bloomberg US Securitized AAA TR USD index with a weighting of 100%. NYLI MacKay Securitized Income ETF has 460 securities in its portfolio. The top 10 holdings constitute 27.9% of the ETF’s assets. The ETF meets the SEC requirement of being classified as a diversified fund. The ETF is not considered to have an ESG focus with its investment selection and management.
NYLI MacKay Securitized Income ETF is part of the Fixed Income global asset class and is within the Taxable Bond ETF group. NYLI MacKay Securitized Income ETF has 0.5% of its portfolio invested in foreign issues. The overall assets allocated to domestic stock is 0.0% There is 0.0% allocated to foreign stock, and 0.0% is allocated to preferred stocks. The bond allocation as a percentage of total assets is 99.0% (98.5% domestic bond, 0.5% foreign bond and 0.0% convertible bond). NYLI MacKay Securitized Income ETF has 1.0% of the portfolio in cash.
Assets Under Management
The fund has $163 million in total assets, which is below the $912 million average for the Securitized Bond - Diversified category. Normally, lower assets under management translates to higher average expense ratios, and greater total assets are desired. However, for some investment categories, such as small-cap investing, it may be difficult for the manager to fully employ the desired active strategy if assets grow too large or too quickly.
SECR Performance and Fees
The expense ratio measures how much of a fund’s assets are used for administrative expenses and operating expenses, including adviser fees and fees for the transfer agent and custodial services. The NYLI MacKay Securitized Income ETF expense ratio is below average compared to funds in the Securitized Bond - Diversified category. NYLI MacKay Securitized Income ETF has an expense ratio of 0.28%, which is 32% lower than its category average, making the fund expense ratio grade a A. While it is difficult to predict returns, it is known that high annual expense ratios reduce your rate of return, and excessive fees are difficult to overcome. Active management normally comes with higher expense ratios than passive index management. Certain investment categories such as small company and foreign also normally have higher expense ratios. It is best to compare fund expense ratios against the category averages for meaningful assessments.
High portfolio turnover can translate to higher expenses and lower aftertax returns. NYLI MacKay Securitized Income ETF has a portfolio turnover rate of 150%, which indicates that it holds its assets around / 0.0 years. By way of comparison, the average portfolio turnover is 154% for the Securitized Bond - Diversified category.
Recently, in the month of July 2026, NYLI MacKay Securitized Income ETF returned -1.0%, which earned it a grade of D, as the Securitized Bond - Diversified category had an average return of -0.4%. The letter grades of A, B, C, D and F are based upon relative rankings within the investment category. A grade of A, for example, would indicate that the return is in the highest 20% for that time period compared to all ETFs in that category.
NYLI MacKay Securitized Income ETF has a trailing yield of 6.90%, which is above the 5.35% category average.
The fund normally distributes its income monthly and its capital gains annually.
It’s natural to seek the best-performing investments, but you must consider the relationship between risk and return and the impact of costs and taxes on your realized returns.
NYLI MacKay Securitized Income ETF Grades
Year to date, the ETF has returned -0.0%, 1.1 percentage points worse than the category, which translates into a grade of F. The fund has returned 3.4% over the past year (grade of F).
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SECR Trailing NAV Total Returns Data as of 7/31/26
| Last Month |
Last Quarter |
Ann'l. 1Yr |
Ann'l. 3Yr |
Ann'l. 5Yr |
Ann'l. 10Yr |
|
| SECR Return (NAV) | -1.0% | -0.7% | 3.4% | na | na | na |
| SECR Return (Price) | -1.2% | -1.0% | 3.3% | na | na | na |
| NAV +/- Price Return | 0.198% | 0.310% | 0.195% | na | na | na |
| Securitized Bond - Diversified Avg | -0.4% | 0.2% | 4.5% | 5.8% | 1.6% | 2.7% |
| SECR Grade (NAV) | D | F | F | na | na | na |
| +/- Category (NAV) | -0.6% | -0.8% | -1.1% | na | na | na |
| SECR Tax-Cost Ratio | na | na | 2.7% | na | na | na |
SECR Annual NAV Total ReturnsData as of 7/31/26
| 2026 | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | |
| SECR Return (NAV) | -0.0% | 7.9% | na | na | na | na | na | na | na | na | na |
| SECR Return (Price) | -0.2% | 7.3% | na | na | na | na | na | na | na | na | na |
| NAV +/- Price Ret | 5.474% | -0.076% | na | na | na | na | na | na | na | na | na |
| Securitized Bond - Diversified Avg | 1.1% | 7.6% | 5.1% | 6.6% | -10.6% | 1.3% | 2.9% | 5.9% | 1.6% | 3.7% | 3.0% |
| SECR Grade (NAV) | F | C | na | na | na | na | na | na | na | na | na |
| +/- Category | -1.1% | 0.2% | na | na | na | na | na | na | na | na | na |
| Risk Measures | |
| Beta: | na |
| R-Squared: | na |
| Standard Deviation: | na |
| Category Risk Index: | na |
| Category Risk Rating: | |
| Total Risk Index: | na |
| Total Risk Rating: | |
| Portfolio Characteristics | |
| Yield: | 6.9% |
| Total Assets: | $ 164 Mil |
| Share Class Assets: | $ 164 Mil |
| Turnover: | 150.0% |
| Expense Ratio: | 0.28% |
| Index Fund: | No |
| Index Tracked: | Bloomberg US Agg Bond TR USD |
| Index Weighting: | 100% |
| Leveraged: | No |
| Socially Responsible Fund: | No |
| Capital Gains Distribution Frequency: | Annually |
| Income Distribution Frequency: | Monthly |
Management Team
| Number of Managers: 3 | |||
| Longest Tenure: 2.2 years | |||
| Average Tenure: 2.2 years | |||
| Managers (Year): Moriarty Neil (2024), DePalma Michael (2024), Aronson Zach (2024) | |||
Portfolio Composition (as of 7/31/26)
| # of Holdings: | 460 |
| % in Top 10 Holdings: | 27.9% |
| Fund is Non-Diversified: | No |
| % in Foreign Issues: | 0.5% |
Portfolio Allocation |
|
| Domestic Stock: | 0.0% |
| Foreign Stock: | 0.0% |
| Preferred Stock: | 0.0% |
| Domestic Bond: | 98.5% |
| Foreign Bond: | 0.5% |
| Convertible Bond: | 0.0% |
| Other: | 0.0% |
| Cash: | 1.0% |
Purchase Information
| Legal Structure: | Open Ended Investment Company |
| Fund Family: | New York Life Investment Management LLC |
| Phone Number: | 888-474-7725 |
| Website: | www.indexiq.com |
| Inception Date: | May 30, 2024 |
Expenses and Fees
| Expense Ratio (%): | 0.28% (Rating: Below Avg) |
| Category Average Expense Ratio (%): | 0.41% |
