Fund Description
The First Trust Short Duration Managed Municipal ETF seeks to provide federally tax-exempt income consistent with capital preservation. Under normal market conditions, the Fund seeks to achieve its investment objective 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.
Fund Profile
Fund Name First Trust Short Duration Managed Municipal ETF
Fund Exchange Ticker FSMB
Fund Sponsor First Trust
Fund ISIN US33739P8308
Net Expense Ratio 0.35 %
Fund Inception Date 1 November 2018
Fund Legal Structure ETF (Open end fund)
Exchange NYSE Arca
Listing Country Code US
Fund Investment Objective
ETF Type Specific Bonds - Municipal
Asset Class Bonds
Index Linked Active
Index Name Not Applicable
Index Provider Not Applicable
Currency Hedged No
Inverse / Leveraged Not Applicable
Developed / Emerging Developed Market Funds
Bond Type Municipal
Credit Quality Investment Grade Only
Average Maturity Short (1-3 years)
Bond Currency Denomination USD
Key Statistics
Return As of Date 26 November 2021
Asset Under Management 177.06 Million (USD)
1 Month Total Return 0.19 %
Year To Date Return 1.19 %
1 Year Total Return 1.71 %
3 Year Annualized Total Return
NAV 20.83
Share Outstanding 8,500,000
Top 10 Holdings (26 November 2021)
Constituent Name Constituent Ticker Constituent Type Weighting
US Dollar CASH 0.0390000000
PEFA INC IA GAS PROJ REVENUE Variable rate due 09/01/2049 PREF 0.0115000000
NEW JERSEY ST N/C 5% due 06/01/2025 BOND 0.0094000000
MICHIGAN ST STRATEGIC FUND LTD OBLG REV Variable rate due 10/01/2061 PREF 0.0094000000
HOUSTON TX ARPT SYS REVENUE N/C 5% due 07/15/2027 BOND 0.0084000000
WILKES-BARRE PA AREA SCH DIST 5% due 08/01/2027 BOND 0.0084000000
TEXAS ST WTR DEV BRD N/C 5% due 10/15/2025 BOND 0.0079000000
MARYLAND ST N/C 5% due 08/01/2024 BOND 0.0078000000
SA ENERGY ACQUISITION PUBLIC FAC CORP TX 5.50% due 08/01/2025 BOND 0.0077000000
MIDDLESEX CNTY NJ CTFS PARTN 5% due 10/15/2031 BOND 0.0071000000