Key stats
About First Trust Municipal High Income ETF
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Inception date
Nov 1, 2017
Structure
Open-Ended Fund
Replication method
Physical
Dividend treatment
Distributes
Distribution tax treatment
Ordinary income
Income tax type
Capital Gains
Max ST capital gains rate
39.60%
Max LT capital gains rate
20.00%
Primary advisor
First Trust Advisors LP
Distributor
First Trust Portfolios LP
ISIN
US33739P3010
FMHI is an actively managed fund that seeks tax-exempt income by focusing on municipal bonds, with capital appreciation as a secondary goal. The fund allows for a wide amount of variety within the municipal spaceit may invest in securities of any duration or maturity. FMHI must invest at least 50% of assets in securities that, at the time of investment, are rated below investment grade. It is worth noting that up to 10% of FMHIs assets may be invested in bonds currently in default and not expected to pay the current coupon (distressed municipal securities).
Related funds
Classification
What's in the fund
Exposure type
Municipal
Bonds, Cash & Other100.00%
Municipal98.90%
Cash0.98%
Securitized0.11%
Top 10 holdings
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Frequently Asked Questions
An exchange-traded fund (ETF) is a collection of assets (stocks, bonds, commodities, etc.) that track an underlying index and can be bought on an exchange like individual stocks.
FMHI assets under management is 795.96 M USD. AUM is an important metric as it reflects the fund's size and can serve as a gauge of how successful the fund is in attracting investors, which, in its turn, can influence decision-making.
Since ETFs work like an individual stock, they can be bought and sold on exchanges (e.g. NASDAQ, NYSE, EURONEXT). As it happens with stocks, you need to select a brokerage to access trading. Explore our list of available brokers to find the one to help execute your strategies. Don't forget to do your research before getting to trading. Explore ETFs metrics in our ETF screener to find a reliable opportunity.
FMHI invests in bonds. See more details in our Analysis section.
FMHI expense ratio is 0.70%. It's an important metric for helping traders understand the fund's operating costs relative to assets and how expensive it would be to hold the fund.
No, FMHI isn't leveraged, meaning it doesn't use borrowings or financial derivatives to magnify the performance of the underlying assets or index it follows.
Yes, FMHI pays dividends to its holders with the dividend yield of 4.15%.
FMHI shares are issued by AJM Ventures LLC
FMHI follows the No Underlying Index. ETFs usually track some benchmark seeking to replicate its performance and guide asset selection and objectives.
The fund started trading on Nov 1, 2017.
The fund's management style is active, aiming to outperform its benchmark index by actively selecting and adjusting assets. The goal is to achieve returns that exceed those of the index the fund tracks.