FMHI

First Trust Municipal High Income ETF

$47.94

+0.00%

Market closed. Last update: 10:56 PM ET

📎 Investment Objective

The First Trust Municipal High Income ETF (FMHI) seeks to provide current income that is generally exempt from regular federal income taxes.

Overview

ETF tracking First Trust Municipal High Income ETF

Category Municipal Bonds

Issuer First Trust

Inception Date 2017-11-02

Market Cap $783.8M

Average Volume N/A

Dividend Yield 3.45%

52-Week Range $45.90 - $49.30

VWAP $48.00

Performance

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Investment Summary

📎 Investment Objective

The First Trust Municipal High Income ETF (FMHI) seeks to provide current income that is generally exempt from regular federal income taxes.

🎯 Investment Strategy

The fund invests primarily in municipal bonds that are rated below investment grade, with the goal of generating higher levels of tax-exempt income compared to investment-grade municipal bonds. The portfolio is actively managed to maintain a high-yield focus while managing risk.

✨ Key Features

Focuses on lower-rated municipal bonds to generate higher tax-exempt income
Actively managed portfolio to balance yield and risk
Diversified exposure to the municipal bond market
Potential for higher volatility and risk compared to investment-grade municipal bond funds

⚠️ Primary Risks

Credit risk: Exposure to lower-rated municipal bonds with higher default risk
Interest rate risk: Sensitivity to changes in interest rates
Liquidity risk: Potential difficulty trading less liquid municipal bonds
Tax risk: Changes in tax laws could affect the tax-exempt status of the fund's income

👤 Best For

FMHI may be suitable for investors seeking higher levels of tax-exempt income, who have a higher risk tolerance, and a longer investment horizon to weather potential volatility. It is generally not recommended for investors with a low risk appetite or short-term investment needs.