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Name

As of 04/23/2024

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

First Trust New York Municipal High Income ETF

FMNY | Active ETF

$26.66

$17.5 M

0.00%

0.65%

Vitals

YTD Return

-0.9%

1 yr return

3.1%

3 Yr Avg Return

N/A

5 Yr Avg Return

N/A

Net Assets

$17.5 M

Holdings in Top 10

21.6%

52 WEEK LOW AND HIGH

$26.7
$25.02
$27.23

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 04/23/2024

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

First Trust New York Municipal High Income ETF

FMNY | Active ETF

$26.66

$17.5 M

0.00%

0.65%

FMNY - Profile

Distributions

  • YTD Total Return -0.9%
  • 3 Yr Annualized Total Return N/A
  • 5 Yr Annualized Total Return N/A
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    First Trust New York Municipal High Income ETF
  • Fund Family Name
    First Trust Advisors L.P.
  • Inception Date
    May 12, 2021
  • Shares Outstanding
    N/A
  • 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 and New York State and New York City income taxes (collectively, “Municipal Securities”). Municipal Securities will be issued by or on behalf of the State of New York or territories or possessions of the U.S. (including, but not limited to, Puerto Rico, the U.S. Virgin Islands and Guam), and/or the political subdivisions, agencies, authorities and other instrumentalities of such State, territories or possessions. In general, interest on Municipal Securities issued by or on behalf of the State of New York will be exempt from the New York individual income tax. Municipal Securities issued by or on behalf of territories or possessions of the U.S. and/or the political subdivisions, agencies, authorities and other instrumentalities of such territories or possessions (collectively, “Territorial Obligations”) will pay interest that is exempt from regular federal income taxes and the New York individual income tax. The Fund may invest up to 100% of its net assets in Municipal Securities that pay interest that generates income subject to the federal alternative minimum tax on individuals. For tax years beginning after December 31, 2022, interest on the bonds may affect the corporate alternative minimum tax for certain corporations. 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). Industrial development bonds are revenue bonds issued by or on behalf of public authorities to obtain funds to finance various public and/or privately operated facilities, including those for business and manufacturing, housing, sports, pollution control, airport, mass transit, port and parking facilities. The Fund may invest in Municipal Securities of any duration and any maturity, however, under normal market conditions, the Fund expects it will have an effective duration of approximately 3-9 years.Under normal market conditions, the Fund will invest at least 50% of its net assets in Municipal Securities that are, at the time of investment, rated investment grade (i.e., rated Baa3/BBB- or above) by at least one nationally recognized statistical rating organization rating such securities (or Municipal Securities that are unrated and determined by the Fund’s advisor to be of comparable quality). If, subsequent to purchase by the Fund, a Municipal Security held by the Fund experiences a decrease in credit quality and is no longer an investment grade Municipal Security, the Fund may continue to hold the Municipal Security and it will not cause the Fund to violate the 50% investment grade requirement; however, the Municipal Security will be taken into account for purposes of determining whether purchases of additional Municipal Securities will cause the Fund to violate such requirement. The Fund will consider pre-refunded or escrowed to maturity bonds, regardless of rating, to be investment grade Municipal Securities.Under normal market conditions, the Fund will invest no more than 50% of its net assets in Municipal Securities that are, at the time of investment, not investment grade, commonly referred to as “high yield” or “junk” bonds. The Municipal Securities in which the Fund will invest to satisfy this 50% investment limitation may include Municipal Securities that are currently in default and not expected to pay the current coupon (“Distressed Municipal Securities”). The Fund may invest up to 10% of its net assets in Distressed Municipal Securities. If, subsequent to purchase by the Fund, a Municipal Security held by the Fund becomes a Distressed Municipal Security, the Fund may continue to hold the Distressed Municipal Security and it will not cause the Fund to violate the 10% investment limitation; however, the Distressed Municipal Security will be taken into account for purposes of determining whether purchases of additional Municipal Securities will cause the Fund to violate such limitation. The Fund may also invest in derivatives instruments (including futures contracts).The Fund is classified as “non-diversified” under the Investment Company Act of 1940 (the “1940 Act”).
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FMNY - Performance

Return Ranking - Trailing

Period FMNY Return Category Return Low Category Return High Rank in Category (%)
YTD -0.9% -86.8% 7.5% 89.04%
1 Yr 3.1% -48.9% 15.3% 81.18%
3 Yr N/A* -21.5% 51.9% N/A
5 Yr N/A* -5.9% 29.0% N/A
10 Yr N/A* -3.6% 13.2% N/A

* Annualized

Return Ranking - Calendar

Period FMNY Return Category Return Low Category Return High Rank in Category (%)
2023 2.6% -91.1% 101.7% N/A
2022 -12.7% -79.2% 102.5% N/A
2021 N/A -66.1% 60.0% N/A
2020 N/A -57.4% 7.6% N/A
2019 N/A -35.9% 3.2% N/A

Total Return Ranking - Trailing

Period FMNY Return Category Return Low Category Return High Rank in Category (%)
YTD -0.9% -86.8% 7.5% 93.48%
1 Yr 3.1% -48.9% 15.4% 81.34%
3 Yr N/A* -21.5% 51.9% N/A
5 Yr N/A* -5.9% 29.0% N/A
10 Yr N/A* -3.6% 13.3% N/A

* Annualized

Total Return Ranking - Calendar

Period FMNY Return Category Return Low Category Return High Rank in Category (%)
2023 6.1% -91.1% 101.7% N/A
2022 -10.7% -79.2% 102.5% N/A
2021 N/A -66.1% 60.0% N/A
2020 N/A -57.4% 7.6% N/A
2019 N/A -35.9% 3.2% N/A

FMNY - Holdings

Concentration Analysis

FMNY Category Low Category High FMNY % Rank
Net Assets 17.5 M 2.87 M 73.9 B 98.80%
Number of Holdings 61 1 14000 75.11%
Net Assets in Top 10 3.79 M -317 M 8.64 B 79.63%
Weighting of Top 10 21.56% 2.4% 100.0% 29.92%

Top 10 Holdings

  1. New York Transportation Development Corp 2.70%
  2. Long Island Power Authority 2.29%
  3. Puerto Rico Sales Tax Financing Corp Sales Tax Revenue 2.27%
  4. Commonwealth of Puerto Rico 2.21%
  5. New York State Urban Development Corp 2.05%
  6. New York Transportation Development Corp 2.05%
  7. New York State Dormitory Authority 2.05%
  8. New York City Transitional Finance Authority Future Tax Secured Revenue 2.00%
  9. Hempstead Town Local Development Corp 1.98%
  10. City of Long Beach NY 1.97%

Asset Allocation

Weighting Return Low Return High FMNY % Rank
Bonds 		97.03% 0.00% 150.86% 96.21%
Cash 		2.97% -50.86% 100.00% 3.56%
Stocks 		0.00% -0.03% 4.63% 12.09%
Preferred Stocks 		0.00% -1.79% 0.04% 9.04%
Convertible Bonds 		0.00% 0.00% 0.93% 9.13%
Other 		0.00% -13.03% 30.01% 10.32%

Bond Sector Breakdown

Weighting Return Low Return High FMNY % Rank
Cash & Equivalents 		0.00% 0.00% 100.00% 4.70%
Securitized 		0.00% 0.00% 5.93% 10.41%
Corporate 		0.00% 0.00% 9.99% 25.07%
Municipal 		0.00% 0.00% 100.00% 94.38%
Government 		0.00% 0.00% 52.02% 14.70%
Derivative 		0.00% 0.00% 21.68% 9.00%

Bond Geographic Breakdown

Weighting Return Low Return High FMNY % Rank
US 		97.03% 0.00% 142.23% 95.34%
Non US 		0.00% 0.00% 62.14% 12.05%

FMNY - Expenses

Operational Fees

FMNY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.65% 0.02% 3.60% 56.02%
Management Fee 0.65% 0.00% 1.10% 97.38%
12b-1 Fee N/A 0.00% 1.00% 0.57%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

FMNY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 0.00% 4.90% N/A
Deferred Load N/A 0.25% 5.00% N/A

Trading Fees

FMNY 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.

FMNY Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover N/A 0.00% 283.00% 45.26%

FMNY - Distributions

Dividend Yield Analysis

FMNY Category Low Category High FMNY % Rank
Dividend Yield 0.00% 0.00% 35.27% 41.56%

Dividend Distribution Analysis

FMNY Category Low Category High Category Mod
Dividend Distribution Frequency Monthly Quarterly Monthly Monthly

Net Income Ratio Analysis

FMNY Category Low Category High FMNY % Rank
Net Income Ratio N/A -0.53% 24.00% 75.03%

Capital Gain Distribution Analysis

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

Distributions History

View More +

FMNY - Fund Manager Analysis

Managers

Johnathan Wilhelm

Start Date

Tenure

Tenure Rank

May 12, 2021

1.05

1.1%

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 12, 2021

1.05

1.1%

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 7.21 1.58

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