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Trending ETFs

Name

As of 06/17/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$51.30

$1.98 B

3.15%

$1.62

0.65%

Vitals

YTD Return

0.6%

1 yr return

4.5%

3 Yr Avg Return

-1.1%

5 Yr Avg Return

1.2%

Net Assets

$1.98 B

Holdings in Top 10

5.2%

52 WEEK LOW AND HIGH

$51.4
$48.08
$51.74

Expenses

OPERATING FEES

Expense Ratio 0.65%

SALES FEES

Front Load N/A

Deferred Load N/A

TRADING FEES

Turnover N/A

Redemption Fee N/A


Min Investment

Standard (Taxable)

N/A

IRA

N/A


Fund Classification

Fund Type

Exchange Traded Fund


Name

As of 06/17/2024

Price

Aum/Mkt Cap

YIELD

Annualized forward dividend yield. Multiplies the most recent dividend payout amount by its frequency and divides by the previous close price.

Exp Ratio

Expense ratio is the fund’s total annual operating expenses, including management fees, distribution fees, and other expenses, expressed as a percentage of average net assets.

Watchlist

$51.30

$1.98 B

3.15%

$1.62

0.65%

FMB - Profile

Distributions

  • YTD Total Return 0.6%
  • 3 Yr Annualized Total Return -1.1%
  • 5 Yr Annualized Total Return 1.2%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 1.99%
DIVIDENDS
  • Dividend Yield 3.1%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    First Trust Managed Municipal ETF
  • Fund Family Name
    First Trust Advisors L.P.
  • Inception Date
    May 13, 2014
  • Shares Outstanding
    40200002
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Johnathan Wilhelm

Fund Description

Under normal market conditions, the Fund seeks to achieve its investment objectives by investing at least 80% of its net assets (including investment borrowings) in municipal debt securities that pay interest that is exempt from regular federal income taxes. Municipal securities are generally issued by or on behalf of states, territories or possessions of the United States and the District of Columbia and their political subdivisions, agencies, authorities and other instrumentalities. The types of municipal securities in which the Fund may invest as a part of its principal investment strategy include municipal general obligation bonds, municipal revenue bonds and private activity bonds (including without limitation industrial development bonds). The Fund may invest in municipal securities of any maturity.The Fund’s investment advisor selects the securities for the Fund by implementing an investment process that is comprised of the following components:1.Total return scenario analysis: Evaluate individual bonds and portfolios of securities that are exposed to interest rate, yield curve and credit spread movements or shifts.2.Sector analysis: Perform top-down review of core sectors based on bottom-up analysis of individual credits to determine the sectors in which the Fund will be overweight, neutral weight and underweight.3.New issue credit analysis: Evaluate new bond offerings to determine portfolio suitability based on fundamental credit research on each borrower and individual bond security features.4.Trading: Analyze how a bond might trade in the secondary market by reviewing total bond issuance size, underwriter willingness to make secondary markets and bond structural features, such as coupon, maturity, call dates and sinking fund payments.5.Surveillance: Analyze holdings on a systematic basis to monitor any changes in credit trend. The Fund’s advisor monitors the credit rating momentum of each bond.6.Performance attribution: Perform granular total return analysis by reviewing key portfolio attributes such as duration, credit rating, sector and state. The portfolio’s performance is also compared to various benchmarks.The Fund invests at least 65% of its net assets in investment grade securities, which are securities that are rated at the time of investment in one of the four highest credit quality categories by at least one nationally recognized statistical rating organization rating that security or, if unrated, determined by the Fund’s investment advisor to be of comparable quality. The Fund considers pre-refunded or escrowed-to-maturity bonds, regardless of rating, to be investment grade securities. The Fund may invest up to 35% of its net assets in securities that are, at the time of investment, rated below investment grade (or securities that are unrated and determined by the Fund’s investment advisor to be of comparable quality), commonly referred to as “high yield” or “junk” bonds. If, subsequent to purchase by the Fund, a security held by the Fund experiences a decline in credit quality and falls below investment grade, the Fund may continue to hold the security and it will not cause the Fund to violate the 35% investment limitation; however, the security will be taken into account for purposes of determining whether purchases of additional securities will cause the Fund to violate such limitation. The Fund may also invest in derivatives, including futures contracts.
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FMB - Performance

Return Ranking - Trailing

Period FMB Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% -2.9% 17.0% 61.34%
1 Yr 4.5% -1.4% 29.0% 32.25%
3 Yr -1.1%* -11.1% 2.9% 52.05%
5 Yr 1.2%* -6.3% 1102.2% 23.24%
10 Yr 2.9%* -0.6% 248.4% 6.50%

* Annualized

Return Ranking - Calendar

Period FMB Return Category Return Low Category Return High Rank in Category (%)
2023 3.1% -1.4% 41.0% 37.59%
2022 -12.1% -39.7% 0.3% 56.21%
2021 0.4% -5.6% 6.9% 16.29%
2020 2.1% -2.6% 310.0% 30.39%
2019 5.6% 0.0% 26.0% 8.45%

Total Return Ranking - Trailing

Period FMB Return Category Return Low Category Return High Rank in Category (%)
YTD 0.6% -2.9% 17.0% 61.34%
1 Yr 4.5% -1.4% 29.0% 32.25%
3 Yr -1.1%* -11.1% 2.9% 52.05%
5 Yr 1.2%* -6.3% 1102.2% 23.24%
10 Yr 2.9%* -0.6% 248.4% 6.50%

* Annualized

Total Return Ranking - Calendar

Period FMB Return Category Return Low Category Return High Rank in Category (%)
2023 6.3% -1.3% 41.0% 32.96%
2022 -9.9% -39.7% 1.1% 57.93%
2021 2.4% -4.8% 23761504.0% 27.59%
2020 4.4% -1.5% 17057.9% 28.76%
2019 8.3% 0.2% 3514.6% 11.45%

FMB - Holdings

Concentration Analysis

FMB Category Low Category High FMB % Rank
Net Assets 1.98 B 3.22 M 71.9 B 17.30%
Number of Holdings 1339 2 13067 6.24%
Net Assets in Top 10 102 M -317 M 3.56 B 42.95%
Weighting of Top 10 5.16% 2.0% 100.2% 98.57%

Top 10 Holdings

  1. County of Meade KY 0.82%
  2. Main Street Natural Gas Inc 0.73%
  3. New York City Transitional Finance Authority Future Tax Secured Revenue 0.52%
  4. Black Belt Energy Gas District 0.51%
  5. Energy Southeast A Cooperative District 0.47%
  6. City of Atlanta GA Airport Passenger Facility Charge 0.46%
  7. New York State Dormitory Authority 0.43%
  8. Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 0.42%
  9. Southeast Energy Authority A Cooperative District 0.41%
  10. Black Belt Energy Gas District 0.39%

Asset Allocation

Weighting Return Low Return High FMB % Rank
Bonds
98.32% 0.00% 150.86% 58.77%
Cash
1.70% -50.86% 46.80% 38.79%
Stocks
0.00% 0.00% 99.81% 55.26%
Preferred Stocks
0.00% 0.00% 0.56% 49.06%
Convertible Bonds
0.00% 0.00% 0.93% 49.05%
Other
-0.03% -3.18% 33.35% 96.75%

Bond Sector Breakdown

Weighting Return Low Return High FMB % Rank
Municipal
98.19% 44.39% 100.00% 52.51%
Cash & Equivalents
0.00% 0.00% 46.24% 78.17%
Securitized
0.00% 0.00% 5.93% 49.90%
Corporate
0.00% 0.00% 9.41% 58.19%
Government
0.00% 0.00% 52.02% 53.23%
Derivative
-0.03% -3.18% 19.67% 96.82%

Bond Geographic Breakdown

Weighting Return Low Return High FMB % Rank
US
98.32% 0.00% 142.23% 56.40%
Non US
0.00% 0.00% 23.89% 51.27%

FMB - Expenses

Operational Fees

FMB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.65% 0.01% 20.65% 60.53%
Management Fee 0.65% 0.00% 1.20% 98.25%
12b-1 Fee 0.00% 0.00% 1.00% 7.62%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

FMB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.50% 4.75% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

FMB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 1.00% 1.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

FMB Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 283.00% 84.11%

FMB - Distributions

Dividend Yield Analysis

FMB Category Low Category High FMB % Rank
Dividend Yield 3.15% 0.00% 14.51% 34.61%

Dividend Distribution Analysis

FMB Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Monthly Monthly Monthly

Net Income Ratio Analysis

FMB Category Low Category High FMB % Rank
Net Income Ratio 1.99% -0.53% 5.33% 47.73%

Capital Gain Distribution Analysis

FMB Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Annually Annually

Distributions History

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FMB - Fund Manager Analysis

Managers

Johnathan Wilhelm


Start Date

Tenure

Tenure Rank

May 13, 2014

8.05

8.1%

Johnathan N. Wilhelm was born in 1966. Mr. Wilhelm joined First Trust in September 2013 as Senior Vice President and Senior Portfolio Manager for the First Trust Advisors Municipal Securities Team and has over 30 years of credit research and portfolio management experience in corporate and municipal securities. Prior to joining First Trust, Mr. Wilhelm was a Portfolio Manager for Municipal Bonds at Performance Trust Investment Advisors for two and one-half years and Senior Vice President and Portfolio Manager at Nuveen Investments for 11 years. Mr. Wilhelm has a BS in Business from Miami University of Ohio and his JD from DePaul University College of Law.

J. Thomas Futrell


Start Date

Tenure

Tenure Rank

May 13, 2014

8.05

8.1%

J. Thomas Futrell, CFA was born in 1955. Mr. Futrell earned a B.A. in Economics from Wheaton College and an M.B.A. from Northern Illinois University. He has been with First Trust Advisors L.P. since 2013 and he is a Portfolio Manager responsible for managing municipal bond portfolios. Prior to joining First Trust Advisors L.P., Mr. Futrell held various positions in portfolio management and research. Mr. Futrell earned the Chartered Financial Analyst (CFA) charter designation in 1989. The CFA charter is a globally respected, graduate-level investment credential established in 1962 and awarded by CFA Institute — the largest global association of investment professionals. The CFA Program curriculum provides a comprehensive framework of knowledge for investment decision making and is firmly grounded in the knowledge and skills used every day in the investment profession. The three levels of the CFA Program test a proficiency with a wide range of fundamental and advanced investment topics, including ethical and professional standards, fixed-income and equity analysis, alternative and derivative investments, economics, financial reporting standards, portfolio management, and wealth planning.

Thomas Byron


Start Date

Tenure

Tenure Rank

Mar 23, 2022

0.19

0.2%

Tom Byron is a Senior Vice President and Senior Portfolio Manager at First Trust. He joined First Trust in 2022 and has over 40 years of experience in municipal unit trust and municipal bond portfolio management. Prior to joining First Trust, Mr. Byron was a Director and senior portfolio manager on the Tax-Exempt Fixed Income Team at BMO Global Asset Management for over six years. Before joining BMO Global Asset Management in 2015, Tom was an Executive Director and senior portfolio manager at Invesco for five years and Morgan Stanley for thirteen years. He began his career in the investment industry as a unit trust administrator for Invesco in 1981. Tom holds an M.B.A. in finance from DePaul University and a B.S. in finance from Marquette University.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.08 35.05 7.36 1.58