FMNY

First Trust New York Municipal High Income ETF

$26.74

+0.00%

Market closed. Last update: 10:56 PM ET

📎 Investment Objective

The First Trust New York Municipal High Income ETF (FMNY) seeks to provide current income that is exempt from regular federal income taxes and New York state and local income taxes.

Overview

ETF tracking First Trust New York Municipal High Income ETF

Category Municipal Bonds

Issuer First Trust

Inception Date 2021-05-13

Market Cap $21.4M

Average Volume N/A

Dividend Yield 3.03%

52-Week Range $25.51 - $27.25

VWAP $26.76

Performance

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Investment Summary

📎 Investment Objective

The First Trust New York Municipal High Income ETF (FMNY) seeks to provide current income that is exempt from regular federal income taxes and New York state and local income taxes.

🎯 Investment Strategy

The fund invests primarily in municipal bonds issued by the state of New York and its local governments. The portfolio is actively managed, with the goal of generating high levels of tax-exempt income for investors.

✨ Key Features

Focuses on municipal bonds from the state of New York
Actively managed portfolio to target high levels of tax-exempt income
No expense ratio currently, as the fund has not yet launched
Relatively small asset base as a new ETF

⚠️ Primary Risks

Interest rate risk, as bond prices may decline when interest rates rise
Credit risk, as the fund is exposed to the creditworthiness of municipal issuers
Concentration risk, as the fund is focused solely on New York municipal bonds
Liquidity risk, as the small asset base may limit trading volume and liquidity

👤 Best For

This ETF may be suitable for investors seeking tax-exempt income from New York municipal bonds, with a moderate risk tolerance and a longer-term investment horizon. It may be particularly appealing to investors subject to New York state and local income taxes.