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ETFs

First Trust New York Municipal High Income ETF

FMNY
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
May 12 2021
Expense Ratio
0.50%
Type
US Bonds
Fund Owner
First Trust
Volume (1m avg. daily)
$33,030
AUM
$12,880,051
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

n/a
NEW YORK ST TRANSPRTN DEV CORP N/C 5% due 12/01/2030
3.57%
n/a
LONG ISLAND NY PWR AUTH ELEC SYS REV 5% due 09/01/2035
3.00%
n/a
PUERTO RICO CMWLTH 4% due 07/01/2033
2.92%
n/a
PUERTO RICO SALES TAX FING CORP 4.329% due 07/01/2040
2.91%
n/a
NEW YORK ST TRANSPRTN DEV CORP 4% due 10/01/2030
2.77%
n/a
NEW YORK ST DORM AUTH REVENUES 5% due 05/01/2038
2.66%
n/a
NASSAU CNTY NY N/C 5% due 04/01/2029
2.63%
n/a
LONG BEACH NY 5.25% due 07/15/2032
2.54%
n/a
NEW YORK ST ENVRNMNTL FACS CORP 5% due 06/15/2044
2.39%
n/a
NEW YORK ST DORM AUTH REVENUES N/C 5% due 07/01/2031
2.39%
Invest with FMNY

What is FMNY?

The First Trust New York Municipal High Income ETFs (the "Fund") primary investment objective is to seek to provide current income that is exempt from regular federal income taxes and New York income taxes, and its secondary objective is 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 and New York State and New York City income taxes (collectively, "Municipal Securities").

ETFs related toFMNY

ETFs correlated to FMNY include JMUB, SCMB, TAXF

FMNY
First Trust Exchange-Traded Fund III - First Trust New York Municipal High Income ETF
JMUB
J.P. Morgan Exchange-Traded Fund Trust - JPMorgan Municipal ETF
SCMB
Schwab Strategic Trust - Schwab Municipal Bond ETF
TAXF
American Century ETF Trust - American Century Diversified Municipal Bond ETF
CGMU
Capital Group Fixed Income ETF Trust - Capital Group Municipal Income ETF
MMIN
IndexIQ Active ETF Trust - IQ MacKay Municipal Insured ETF
NYF
BlackRock Institutional Trust Company N.A. - iShares New York Muni Bond ETF
FMB
First Trust Exchange-Traded Fund III - First Trust Managed Municipal ETF
VTEB
Vanguard Group, Inc. - Vanguard Tax-Exempt Bond ETF
MMIT
IndexIQ Active ETF Trust - IQ MacKay Municipal Intermediate ETF
TFI
SPDR Series Trust - SPDR Nuveen Bloomberg Municipal Bond 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

FMNY is a US Bonds ETF. The First Trust New York Municipal High Income ETFs (the "Fund") primary investment objective is to seek to provide current income that is exempt from regular federal income taxes and New York income taxes, and its secondary objective is 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 and New York State and New York City income taxes (collectively, "Municipal Securities").

Yes, FMNY 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, FMNY 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 FMNY is -0.0172%. This is the percent change in the value of FMNY over the most recent 1-month period. The 3-month return on FMNY is -0.03%. This is the percent change in the value of FMNY over the most recent 3-month period.

The standard deviation of FMNY for the past year is 0.0408%. 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 FMNY include SUB, HYD, and CMF.

ETFs correlated to FMNY include JMUB, SCMB, and TAXF.

ETFs that are inversely correlated to FMNY include TBT, TBF, and TMV.

Disclaimers

*

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.