First Trust Managed Municipal ETF

Frequently Asked Questions About FMB

What does FMB invest in?

The main goal of this Fund is to provide an ongoing stream of income that is not subject to regular federal income taxes. Its secondary aim is to achieve long-term growth in the value of its investments. Under typical market conditions, the Fund works towards these objectives by allocating at least 80% of its net assets (including any borrowed capital) to municipal debt instruments that pay interest which is exempt from standard federal income taxation.

What is the expense ratio of FMB?

First Trust Managed Municipal ETF (FMB) charges an expense ratio of 0.39%. This is the annual fee deducted from fund assets to cover management and operations.

What is FMB's dividend yield?

FMB's trailing-twelve-month yield is 3.80%, calculated from the sum of dividends over the past year divided by the current price.

What is the duration of FMB?

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

What is the credit quality of FMB?

FMB'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 FMB?

Yield to maturity (YTM) is the total return you'd earn from FMB if every bond in the portfolio is held to maturity at the current price. FMB'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.