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 0.45 %
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 January 2021
Asset Under Management 82.32 Million (USD)
1 Month Total Return 0.45 %
Year To Date Return 0.46 %
1 Year Total Return 3.13 %
3 Year Annualized Total Return
NAV 20.84
Share Outstanding 3,950,000
Top 10 Holdings (26 January 2021)
Constituent Name Constituent Ticker Constituent Type Weighting
US Dollar CASH 0.0205686954
NEWARK NJ N/C 3.50% due 07/27/2021 BOND 0.0186286227
HOUSTON TX ARPT SYS REVENUE N/C 5% due 07/15/2027 BOND 0.0180018912
TENDER OPTION BOND TRUST RECPTS Variable rate due 06/15/2038 BOND 0.0175647612
MIDDLESEX CNTY NJ CTFS PARTN 5% due 10/15/2031 BOND 0.0158983489
ARIZONA ST INDL DEV AUTH REV B/C 5% due 05/01/2027 BOND 0.0154970155
UNIV OF CONNECTICUT CT N/C 5% due 11/01/2026 BOND 0.0148487852
NEW JERSEY ST N/C 5% due 06/01/2025 BOND 0.0145865856
ALABAMA FEDERAL AID HIGHWAY FIN AUTH 5% due 09/01/2030 BOND 0.0140651509
MICHIGAN ST FIN AUTH REVENUE 5% due 07/01/2028 BOND 0.0131297435