First Eagle Core Municipal ETF

Frequently Asked Questions About FECM

What does FECM invest in?

An actively managed ETF that seeks to provide current income exempt from regular federal income taxes, with capital appreciation as a secondary objective. The fund leverages First Eagle's municipal credit expertise through an actively managed portfolio that is primarily investment grade and diversified across sectors, issuers and maturities.

What is the expense ratio of FECM?

First Eagle Core Municipal ETF (FECM) charges an expense ratio of 0.40%. This is the annual fee deducted from fund assets to cover management and operations.

What is FECM's dividend yield?

FECM's trailing-twelve-month yield is 1.10%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of FECM?

Effective duration measures FECM's sensitivity to interest-rate changes: a duration of 6 means a 1% rate move shifts NAV by roughly 6% in the opposite direction. FECM's current duration is published on the fund's factsheet on the issuer's website.

What is the credit quality of FECM?

FECM's credit quality breakdown (the share of holdings rated AAA through CCC and below) is published on the fund's factsheet. Higher-quality (investment-grade) funds yield less but carry less default risk than high-yield / junk bond funds.

What is the yield to maturity of FECM?

Yield to maturity (YTM) is the total return you'd earn from FECM if every bond in the portfolio is held to maturity at the current price. FECM's YTM is published on the fund's factsheet on the issuer's website. It differs from the trailing-12-month yield because YTM reflects current bond prices rather than historical income paid.