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ETFs

First Trust Exchange-Traded Fund III First Trust Municipal High Income ETF

FMHI
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Nov 01 2017
Expense Ratio
0.55%
Type
US Bonds
Fund Owner
First Trust
Volume (1m avg. daily)
$2,429,161
AUM
$409,462,591
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
Yes
Prospectus
View

Top 10 Holdings

n/a
Derivatives offset
7.31%
n/a
BUCKEYE OH TOBACCO SETTLEMENT FING AUTH 5% due 06/01/2055
1.39%
n/a
MEADE CNTY KY INDL BLDG REVENUE Variable rate due 08/01/2061
1.39%
n/a
BURKE CNTY GA DEV AUTH POLL CTRL REV Variable rate due 11/01/2052
1.34%
n/a
MISSISSIPPI ST BUSINESS FIN CORP Variable rate due 07/01/2025
1.09%
n/a
CHICAGO IL BRD OF EDU N/C 5% due 12/01/2030
0.89%
n/a
NEW YORK CITY NY INDL DEV AGY Variable rate due 10/01/2042
0.74%
n/a
IOWA ST FIN AUTH MIDWSTRN DISASTER AREA REV 5% due 12/01/2050
0.72%
n/a
ARKANSAS DEV FIN AUTH ENVIRONMENTAL REV 5.45% due 09/01/2052
0.71%
n/a
St CT 5 % Bonds 2016-01.12.45 Trinity Health Series 2016CT
0.68%
Invest with FMHI

What is FMHI?

The First Trust Municipal High Income ETF is an actively managed exchange-traded fund. The Funds primary investment objective will be to seek to provide federally tax-exempt income, and its secondary objective will be long term capital appreciation. Under normal market conditions, the Fund seeks to achieve its investment objectives 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 (collectively, "Municipal Securities").

ETFs related toFMHI

ETFs correlated to FMHI include FMB, SCMB, JMHI

FMHI
First Trust Exchange-Traded Fund III - First Trust Municipal High Income ETF
FMB
First Trust Exchange-Traded Fund III - First Trust Managed Municipal ETF
SCMB
Schwab Strategic Trust - Schwab Municipal Bond ETF
JMHI
J.P. Morgan Exchange-Traded Fund Trust - JPMorgan High Yield Municipal ETF
PZA
Invesco Capital Management LLC - Invesco National AMT-Free Municipal Bond ETF
MUNI
Pimco Exchange Traded Fund - PIMCO Intermediate Municipal Bond Active Exchange-Traded Fund
PWZ
Invesco Capital Management LLC - Invesco California AMT-Free Municipal Bond ETF
JMUB
J.P. Morgan Exchange-Traded Fund Trust - JPMorgan Municipal ETF
VTEB
Vanguard Group, Inc. - Vanguard Tax-Exempt Bond ETF
TAXF
American Century ETF Trust - American Century Diversified Municipal Bond ETF
MMIN
IndexIQ Active ETF Trust - IQ MacKay Municipal Insured ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

FAQ

FMHI is a US Bonds ETF. The First Trust Municipal High Income ETF is an actively managed exchange-traded fund. The Funds primary investment objective will be to seek to provide federally tax-exempt income, and its secondary objective will be long term capital appreciation. Under normal market conditions, the Fund seeks to achieve its investment objectives 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 (collectively, "Municipal Securities").

Yes, FMHI is actively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

No, FMHI is not passively managed. It is actively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on FMHI is -0.0152%. This is the percent change in the value of FMHI over the most recent 1-month period. The 3-month return on FMHI is -0.0279%. This is the percent change in the value of FMHI over the most recent 3-month period.

The standard deviation of FMHI for the past year is 0.0549%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to FMHI include SUB, HYD, and CMF.

ETFs correlated to FMHI include FMB, SCMB, and JMHI.

ETFs that are inversely correlated to FMHI include TTT, TBT, and TMV.

Disclaimers

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We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.