NYSE Arca · ETF
Invest in MMIN ETF from India
Indian and foreign residents can buy NYLI MacKay Muni Insured ETF (MMIN) units directly through Paasa.
By Paasa · Updated
MMIN at a glance
- Price
- $22.19-$0.06 (0.27%)
- Expense ratio
- 0.4%
- Day range
- $22.13 – $22.27
- Assets
- $459.2M
- Domicile
- the US
- Holdings
- 222
- Launched
- 2017
- Dividends
- Distributing
- 1 month
- -5.57%
- 6 months
- -6.29%
- YTD
- -7.31%
- 1 year
- -6.65%
- 5 years
- -19.10%
Price change, excluding dividends.
Top 10 holdings
- 1CASH1.7%
- 2Wayne Cnty Mich Arpt Auth Rev 5.5% 01-dec-20481.5%
- 3Pennsylvania Economic Dev Fing Auth Private Activity Rev 5.75% 31-dec-20621.3%
- 4Temple Tex Tax Increment 5.0% 01-aug-20511.3%
- 5Summit Cnty Ohio Dev Fin Auth Student Hsg Rev 5.25% 01-jul-20551.2%
- 6DREYFUS GOVT CASH MAN INS1.1%
- 7Cook Cnty Ill High Sch Dist No 205 Thornton Twp 5.0% 01-dec-20431.1%
- 8Sangamon Cnty Ill Sch Dist No 186 Springfield 5.5% 01-jun-20501.1%
- 9Los Angeles Calif Dept Wtr & Pwr Rev 5.0% 01-jul-20551.1%
- 10Chicago Ill Wtr Rev 5.25% 01-nov-20611.0%
MMIN holds 222 securities in total. These 10 are 12.5% of the fund.
Where the money is invested
Sectors
- Financial Services1.1%
Countries
- United States99.8%
- Other0.2%
How to invest in MMIN from India
Step 1
Open your Paasa account
KYC takes a few minutes: PAN, Aadhaar and address proof. Your brokerage account is opened in your own name with Interactive Brokers.
Step 2
Add funds from your Indian bank account
Remit up to $250,000 a year under the RBI's Liberalised Remittance Scheme. Your bank converts the rupees to US dollars at its rate on the day you remit.
Step 3
Search MMIN and buy
Find the fund by its ticker, MMIN, on NYSE Arca, and place your order. Fractional units are available and there is no minimum trade size, so you can buy by amount.
Why invest in MMIN from India
What MMIN holds
MMIN offers an active management perspective on the US investment-grade municipal bond space. The portfolio includes bonds of varying maturities (dollar-weighted average duration of 3-15 years), issued by at least 15 different states and encompassing at least 10 sectors, with no more than 30% of the securities from a single state.
Hold a dollar asset
MMIN is priced in US dollars, so a weaker rupee adds to what it's worth in rupees. The rupee depreciated over 85% against the dollar between 2010 and 2025.
Buy a fraction of a unit
Buy by amount, not by unit, and get the matching fraction of one MMIN unit. There is no minimum trade size.
Paasa handles the paperwork
Investing abroad brings paperwork with it: remittance filings, capital gains reporting, foreign asset disclosure. Paasa prepares all of it for you. Your India-ready tax reports arrive at year end, ready to file.
Planning to hold more than $60,000 in US ETFs? Here's what US estate tax means for you.
US-domiciled ETFs held in your own name fall under US estate tax rules. If your US holdings cross $60,000, the amount above that can be taxed at up to 40% when the account passes to your family.
A UCITS ETF tracking a similar market sits outside US estate tax.
Frequently asked questions
Can I buy MMIN from India?
Yes. Indian residents can buy NYLI MacKay Muni Insured ETF (MMIN) through Paasa. It is listed on NYSE Arca and trades in US dollars. Your money leaves India under the RBI's Liberalised Remittance Scheme, and the units are held in your own name at Interactive Brokers.
What does MMIN invest in?
NYLI MacKay Muni Insured ETF holds 222 securities. Its largest holdings are CASH (1.7%), Wayne Cnty Mich Arpt Auth Rev 5.5% 01-dec-2048 (1.5%) and Pennsylvania Economic Dev Fing Auth Private Activity Rev 5.75% 31-dec-2062 (1.3%). Financial Services is its largest sector at 1.1%. It is a distributing fund domiciled in the US.
What is the expense ratio of MMIN?
NYLI MacKay Muni Insured ETF has an expense ratio of 0.4% a year, taken from the fund's assets rather than billed to you. The fund manages about $459.2M.
How are MMIN dividends taxed in India?
NYLI MacKay Muni Insured ETF is a distributing fund. It pays the dividends from its holdings out to you in cash. Dividends are taxed at your slab rate in India. Paasa's dividend report lists the gross dividend and any tax withheld for each payment.
What tax do I pay in India when I sell MMIN?
The US does not levy capital gains tax on shares for Indian residents. Gains are taxable in India. Debt-oriented funds can be taxed differently from equity funds, so confirm your rate before selling. The gain is worked out in rupees at the USD/INR rate on the day you bought and the day you sold, so the currency move is part of the gain. Paasa's capital-gains statement gives you the figures for your return.
Can I buy a fraction of one MMIN unit?
Yes. You can buy by amount rather than by unit and add to your position over time. One unit is $22.19, and there is no minimum trade size.
What happens to my MMIN units if I pass away?
US-domiciled ETFs held in your own name fall under US estate tax rules. If your US holdings cross $60,000, the amount above that can be taxed at up to 40% when the account passes to your family. A UCITS ETF tracking a similar market sits outside US estate tax. Paasa's US estate tax calculator shows the exposure for a given portfolio value.