NYLI MacKay DefinedTerm Muni Opportunities FundMMD +0.32%30 Return-on-Tangible-Equity is 12.96% as of Nov. 2025, which is 451% above its 10-year median of 2.35. GuruFocus rates MMD with a GF Score™ of 30/100. The stock has 5 warning signs investors should review. Among 1,588 Asset Management companies, NYLI MacKay DefinedTerm Muni Opportunities Fund ranks worse than 73.8% on this metric.
MMD's Return-on-Tangible-Equity is ranked worse than 73.8% of 1588
companies
in the Asset Management industry
Industry Median: 7.165
vs MMD: 0.61
NYLI MacKay DefinedTerm Muni Opportunities Fund (NYSE:MMD) Return-on-Tangible-Equity Explanation
Return-on-Tangible-Equity measures the rate of return on the ownership interest (shareholder's tangible equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' tangible equity (shareholders equity minus intangibles). Return-on-Tangible-Equity shows how well a company uses investment funds to generate earnings growth. Return-on-Tangible-Equitys between 15% and 20% are considered desirable.
Be Aware
Net Income is used.
Because a company can increase its Return-on-Tangible-Equity by having more financial leverage, it is important to watch the leverage ratio when investing in high Return-on-Tangible-Equity companies. Like Return-on-Tangible-Asset, Return-on-Tangible-Equity is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their Return-on-Tangible-Equitys can be extremely high.
NYLI MacKay DefinedTerm Muni Opportunities Fund Return-on-Tangible-Equity Related Terms
NYLI MacKay DefinedTerm Muni Opportunities Fund Return-on-Tangible-Equity Historical Data
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
NYLI MacKay DefinedTerm Muni Opportunities Fund Return-on-Tangible-Equity Chart
NYLI MacKay DefinedTerm Muni Opportunities Fund Annual Data
MMD vs RMM, PMO, NCZ: Return-on-Tangible-Equity Comparison
For the Asset Management subindustry, NYLI MacKay DefinedTerm Muni Opportunities Fund's Return-on-Tangible-Equity, along with its competitors' market caps and Return-on-Tangible-Equity data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
NYLI MacKay DefinedTerm Muni Opportunities Fund Return-on-Tangible-Equity vs Asset Management Industry
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
In the calculation of annual Return-on-Tangible-Equity, the net income of the last fiscal year and the average total shareholder tangible equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is two times the semi-annual (Nov. 2025) net income data.
Return-on-Tangible-Equity is displayed in the 10-year financial page.
What does a Return-on-Tangible-Equity of 12.96% mean?
NYLI MacKay DefinedTerm Muni Opportunities Fund (MMD) has a Return-on-Tangible-Equity of 12.96% as of Nov. 2025. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on NYLI MacKay DefinedTerm Muni Opportunities Fund and its competitors. This is 451% above median its historical median of 2.35. According to the industry distribution chart, NYLI MacKay DefinedTerm Muni Opportunities Fund ranks #1172 out of 1588 companies in the Asset Management industry, placing it in the top 73.8%.
Is NYLI MacKay DefinedTerm Muni Opportunities Fund's Return-on-Tangible-Equity too high?
NYLI MacKay DefinedTerm Muni Opportunities Fund's current Return-on-Tangible-Equity of 12.96% is 451% above median its 10-year median of 2.35. The Asset Management industry median Return-on-Tangible-Equity is 7.17. NYLI MacKay DefinedTerm Muni Opportunities Fund's value of 12.96% is 80.9% above this industry median. Based on the distribution chart, NYLI MacKay DefinedTerm Muni Opportunities Fund ranks #1172 out of 1588 companies in the Asset Management industry, which is below the industry midpoint. Overall, NYLI MacKay DefinedTerm Muni Opportunities Fund has a GF Score™ of 30/100, reflecting its overall financial health beyond just this single metric.
How does NYLI MacKay DefinedTerm Muni Opportunities Fund's Return-on-Tangible-Equity compare to RMM and PMO?
According to the Asset Management industry distribution chart, NYLI MacKay DefinedTerm Muni Opportunities Fund ranks #1172 out of 1588 companies for Return-on-Tangible-Equity. This places NYLI MacKay DefinedTerm Muni Opportunities Fund in the lower half of its industry. The industry median Return-on-Tangible-Equity is 7.17. NYLI MacKay DefinedTerm Muni Opportunities Fund's value of 12.96% is 80.9% above this benchmark. While the company's 10-year median is 2.35 vs. the industry median of 7.17, NYLI MacKay DefinedTerm Muni Opportunities Fund has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Equity for an Asset Management company?
The median Return-on-Tangible-Equity among Asset Management companies is 7.17, based on 1,588 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Equity significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Equity should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NYLI MacKay DefinedTerm Muni Opportunities Fund's current Return-on-Tangible-Equity of 12.96% is 80.9% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Return-on-Tangible-Equity mean?
A high Return-on-Tangible-Equity can signal that a stock is expensive relative to its fundamentals. Return on tangible equity is the ratio of current-period net income to average two-period tangible equity. View historical data on NYLI MacKay DefinedTerm Muni Opportunities Fund and its competitors. For the Asset Management industry, the median Return-on-Tangible-Equity is 7.17 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NYLI MacKay DefinedTerm Muni Opportunities Fund's current Return-on-Tangible-Equity is 12.96%, which is 451% above median its own 10-year median of 2.35. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NYLI MacKay DefinedTerm Muni Opportunities Fund stock overvalued right now?
NYLI MacKay DefinedTerm Muni Opportunities Fund (MMD) has a current Return-on-Tangible-Equity of 12.96%. The current Return-on-Tangible-Equity is 12.96%, which is 451% above median its 10-year median of 2.35 and 80.9% above the Asset Management industry median of 7.17. NYLI MacKay DefinedTerm Muni Opportunities Fund's overall GF Score™ is 30/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Equity calculated?
Return-on-Tangible-Equity is calculated from a company's financial statements. For NYLI MacKay DefinedTerm Muni Opportunities Fund (MMD), the current Return-on-Tangible-Equity is 12.96% as of Nov. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
NYLI MacKay DefinedTerm Muni Opportunities Fund Business Description
NYLI MacKay DefinedTerm Muni Opportunities Fund is a USA-based diversified closed-end management investment company. The fund's investment objective is to seek current income exempt from regular U.S. Federal income taxes as well as total return. The company predominantly invests in municipal bonds, the interest on which is, in the opinion of bond counsel to the issuers, generally excludable from gross income for regular U.S. Federal income tax purposes.
30GF Score
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