FSMBFirst Trust Short Duration Managed Municipal ETF
Seeks federally tax-exempt income consistent with capital preservation.
By First Trust · Launched 2018
Annual Cost
0.34%
#1,522 of 5,861 · low cost
Fund Size
$626M
#1,434 of 5,861 · large
Dividend YieldGoal
3.15%
Track Record
7 years
#1,805 of 5,861 · established
Performance
Total-return NAV · USDGrowth of $10,000
$10,256+2.6%
Total-return NAV, USD. Net of fund fees, before tax.
What's inside
How Beacon categorizes this fundWhat it actually holds
By weightConcentration
Top 10 holdings = 7.1% of fund✓ well diversified
SOUTHEAST ENERGY AUTHORITY (AL)
1.1%
UTAH (UT), COUNTY OF
0.8%
OHIO AIR QUALITY DEVELOPMENT AUTHORITY (OH)
0.8%
PUBLIC FINANCE AUTHORITY (WI)
0.7%
ST JOHN BAPTIST PARISH LA
0.7%
MAIN STR ENERGY INC GA
0.7%
PALM BEACH COUNTY HEALTH FACILITIES AUTHORITY (FL)
0.6%
NEW YORK CITY MUNICIPAL WATER FINANCE AUTHORITY (NY)
0.6%
PUBLIC ENERGY AUTHORITY OF KENTUCKY (KY)
0.6%
BLACK BELT ENERGY GAS DIST ALA
0.6%
Asset allocation
Bonds
98.2%
Cash
1.8%
Risk profile
Last 12 months · Sharpe & Sortino need 3+ yearsVolatility (1Y)
1.5%Low
Year-on-year price swings
Max drawdown
-6.3%Mild
Worst peak-to-trough loss
Sharpe (3Y)
-0.24Below average
Sortino (3Y)
-0.31Moderate downside risk
Bond profile
Duration
4.3 years
Avg maturity
10.3 years
Credit ratings
AA
40.8%
A
35.0%
BBB
11.8%
BB
4.2%
B
0.5%
Other
8.6%
Listing
- Exchange
- NYSE Arca
Full fund details
- Objective
- Seeks federally tax-exempt income consistent with capital preservation.
- Strategy
- Invests primarily in municipal debt securities that pay interest exempt from federal income taxes, focusing on investment-grade Municipal Securities across the U.S. portfolio with a weighted average duration of 1-3 years.
- Inception date
- November 1, 2018
- Fund family
- First Trust
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Data updated on 2026-08-04