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Trending ETFs

Name

As of 05/24/2024

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

$16.83

$15.9 M

3.64%

$0.61

0.88%

Vitals

YTD Return

0.2%

1 yr return

7.1%

3 Yr Avg Return

-3.5%

5 Yr Avg Return

1.2%

Net Assets

$15.9 M

Holdings in Top 10

21.1%

52 WEEK LOW AND HIGH

$16.8
$15.23
$17.13

Expenses

OPERATING FEES

Expense Ratio 0.88%

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 05/24/2024

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

$16.83

$15.9 M

3.64%

$0.61

0.88%

MFLX - Profile

Distributions

  • YTD Total Return 0.2%
  • 3 Yr Annualized Total Return -3.5%
  • 5 Yr Annualized Total Return 1.2%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio N/A
DIVIDENDS
  • Dividend Yield 3.6%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name
    First Trust Flexible Municipal High Income ETF
  • Fund Family Name
    First Trust Advisors L.P
  • Inception Date
    Sep 27, 2016
  • Shares Outstanding
    N/A
  • Share Class
    N/A
  • Currency
    USD
  • Domiciled Country
    US
  • Manager
    Ken Fincher

Fund Description

Under normal market conditions, the Fund seeks to achieve its investment objective by investing at least 80% of its net assets (plus any investment borrowings) in municipal debt securities that pay interest that is exempt from regular federal income taxes. Municipal debt 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 Fund may invest in a range of municipal securities, including, but not limited to, municipal lease obligations (and certificates of participation in such obligations), municipal general obligation bonds, municipal revenue bonds, municipal notes, municipal cash equivalents, private activity bonds (including without limitation industrial development bonds), and pre-refunded and escrowed to maturity bonds. In addition, the Fund may invest in inverse floating rate securities issued by tender option bond (“TOB”) trusts and securities issued by custodial receipt trusts, each of which are investment vehicles the underlying assets of which are municipal bonds. The Fund may invest without limitation in municipal securities that pay interest and generate income subject to federal and state alternative minimum tax.The Fund may invest in municipal debt securities of any duration, maturity or credit quality, but will focus on longer duration, higher yielding municipal debt securities, including municipal debt securities that are rated below investment grade or unrated and determined by the Fund's investment advisor, First Trust Advisors L.P. ("First Trust" or the "Advisor") to be of comparable quality, also known as “junk” bonds. The Fund may invest up to 10% of its net assets in municipal debt securities that are currently in default ("Distressed Securities"). If, subsequent to purchase by the Fund, a municipal debt security held by the Fund goes into default, the Fund may continue to hold the security and it will not cause the Fund to violate the 10% investment limitation; however, the defaulted municipal debt security will be taken into account for purposes of determining whether purchases of additional municipal debt securities will cause the Fund to violate its limitation on holding Distressed SecuritiesIn addition, the Fund may invest up to 10% of its net assets in closed-end investment companies that are listed and traded in the United States on registered exchanges which invest primarily in municipal debt securities, some or all of which pay interest that is exempt from regular federal income taxes. The Fund may also invest in derivatives instruments (including futures contracts).
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MFLX - Performance

Return Ranking - Trailing

Period MFLX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -86.8% 7.5% N/A
1 Yr 7.1% -48.9% 15.3% 96.89%
3 Yr -3.5%* -21.5% 51.9% 24.99%
5 Yr 1.2%* -5.9% 29.0% 21.19%
10 Yr N/A* -3.6% 13.2% N/A

* Annualized

Return Ranking - Calendar

Period MFLX Return Category Return Low Category Return High Rank in Category (%)
2023 4.9% -91.1% 101.7% N/A
2022 -23.1% -79.2% 102.5% N/A
2021 4.5% -66.1% 60.0% N/A
2020 3.6% -57.4% 7.6% N/A
2019 13.4% -35.9% 3.2% N/A

Total Return Ranking - Trailing

Period MFLX Return Category Return Low Category Return High Rank in Category (%)
YTD 0.2% -86.8% 7.5% 96.30%
1 Yr 7.1% -48.9% 15.4% 96.93%
3 Yr -3.5%* -21.5% 51.9% 25.40%
5 Yr 1.2%* -5.9% 29.0% 17.71%
10 Yr N/A* -3.6% 13.3% N/A

* Annualized

Total Return Ranking - Calendar

Period MFLX Return Category Return Low Category Return High Rank in Category (%)
2023 9.0% -91.1% 101.7% 0.19%
2022 -19.9% -79.2% 102.5% 9.00%
2021 8.4% -66.1% 60.0% 0.89%
2020 7.2% -57.4% 7.6% 96.65%
2019 15.2% -35.9% 3.2% 0.56%

MFLX - Holdings

Concentration Analysis

MFLX Category Low Category High MFLX % Rank
Net Assets 15.9 M 2.87 M 73.9 B 98.09%
Number of Holdings 78 1 14000 72.24%
Net Assets in Top 10 3.59 M -317 M 8.64 B 79.91%
Weighting of Top 10 21.12% 2.4% 100.0% 53.56%

Top 10 Holdings

  1. County of Meade KY 2.94%
  2. County of Jefferson AL Sewer Revenue 2.91%
  3. City of Long Beach CA Airport System Revenue 2.06%
  4. New York City Transitional Finance Authority 1.95%
  5. Dutchess County Local Development Corp 1.91%
  6. Indianapolis Local Public Improvement Bond Bank 1.90%
  7. Chicago Board of Education 1.88%
  8. Skagit County Public Hospital District No 1 1.88%
  9. California Health Facilities Financing Authority 1.87%
  10. San Francisco City County Public Utilities Commission Power Revenue 1.82%

Asset Allocation

Weighting Return Low Return High MFLX % Rank
Bonds
93.68% 0.00% 150.86% 86.95%
Stocks
4.91% -0.03% 4.63% 3.06%
Cash
1.42% -50.86% 100.00% 11.46%
Preferred Stocks
0.00% -1.79% 0.04% 99.68%
Other
0.00% -13.03% 30.01% 51.74%
Convertible Bonds
0.00% 0.00% 0.93% 51.78%

Stock Sector Breakdown

Weighting Return Low Return High MFLX % Rank
Utilities
0.00% 0.00% 0.00% N/A
Technology
0.00% 0.00% 0.00% N/A
Real Estate
0.00% 0.00% 0.00% N/A
Industrials
0.00% 0.00% 100.00% N/A
Healthcare
0.00% 0.00% 0.00% N/A
Financial Services
0.00% 0.00% 0.00% N/A
Energy
0.00% 0.00% 0.00% N/A
Communication Services
0.00% 0.00% 100.00% N/A
Consumer Defense
0.00% 0.00% 0.00% N/A
Consumer Cyclical
0.00% 0.00% 100.00% N/A
Basic Materials
0.00% 0.00% 0.00% N/A

Stock Geographic Breakdown

Weighting Return Low Return High MFLX % Rank
US
4.91% -0.03% 4.63% 3.06%
Non US
0.00% 0.00% 0.00% 51.64%

Bond Sector Breakdown

Weighting Return Low Return High MFLX % Rank
Derivative
0.00% 0.00% 21.68% 51.60%
Cash & Equivalents
0.00% 0.00% 100.00% 10.91%
Securitized
0.00% 0.00% 5.93% 52.37%
Corporate
0.00% 0.00% 9.99% 14.98%
Municipal
0.00% 0.00% 100.00% 88.08%
Government
0.00% 0.00% 52.02% 54.70%

Bond Geographic Breakdown

Weighting Return Low Return High MFLX % Rank
US
93.68% 0.00% 142.23% 89.59%
Non US
0.00% 0.00% 62.14% 9.77%

MFLX - Expenses

Operational Fees

MFLX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 0.88% 0.02% 3.60% 37.85%
Management Fee 0.75% 0.00% 1.10% 98.69%
12b-1 Fee N/A 0.00% 1.00% 9.37%
Administrative Fee N/A 0.01% 0.44% N/A

Sales Fees

MFLX 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

MFLX 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.

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

MFLX - Distributions

Dividend Yield Analysis

MFLX Category Low Category High MFLX % Rank
Dividend Yield 3.64% 0.00% 35.27% 0.82%

Dividend Distribution Analysis

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

Net Income Ratio Analysis

MFLX Category Low Category High MFLX % Rank
Net Income Ratio N/A -0.53% 24.00% 5.45%

Capital Gain Distribution Analysis

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

Distributions History

View More +

MFLX - Fund Manager Analysis

Managers

Ken Fincher


Start Date

Tenure

Tenure Rank

Sep 27, 2016

5.68

5.7%

Ken Fincher is a Senior Vice President and Portfolio Manager at First Trust. His current responsibilities include management of separately managed accounts that invest primarily in closed-end funds. He has also helped develop new product structures in the closed-end fund space. Mr. Fincher has been named Outstanding Individual Contributor to the Closed-End Fund Sector in 2007, 2006, 2005 and 2004 by financial analysts and his peers in the closed-end fund community and also served on the Closed-End Fund committee of the Investment Company Institute. Mr. Fincher received a B.A. in financial administration from Michigan State University and an M.B.A. from Loyola University Graduate School of Business.

Johnathan Wilhelm


Start Date

Tenure

Tenure Rank

Apr 14, 2022

0.13

0.1%

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

Apr 14, 2022

0.13

0.1%

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

Apr 14, 2022

0.13

0.1%

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