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2023 Estimated Capital Gain Distributions
Please note that none of our First Trust Exchange-Traded Funds are expected to pay a special long-term capital gain distribution in December. Also, none of the First Trust Exchange-Traded Funds are expected to pay any special short-term capital gain distributions in December. Final determination of the source and tax status of all distributions paid in the current year are to be made after year-end and could differ from the expectations noted above.
Investment Objective/Strategy - First Trust Ultra Short Duration Municipal ETF seeks to provide federally tax-exempt income consistent with capital preservation. Under normal market conditions, the Fund seeks to achieve its investment objective 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.
There can be no assurance that the Fund's investment objectives will be achieved.
Ticker | FUMB |
Fund Type | Tax-Free Fixed Income |
Investment Advisor | First Trust Advisors L.P. |
Investor Servicing Agent | Bank of New York Mellon Corp |
CUSIP | 33740J104 |
ISIN | US33740J1043 |
Intraday NAV | FUMBIV |
Fiscal Year-End | 07/31 |
Exchange | NYSE Arca |
Inception | 11/1/2018 |
Inception Price | $20.00 |
Inception NAV | $20.00 |
Expense Ratio* | 0.45% |
* As of 12/1/2023
The Investment Advisor has implemented fee breakpoints, which reduce the fund's investment management fee at certain assets levels. Please see the fund's Statement of Additional Information for full details.
Closing NAV1 | $20.06 |
Closing Market Price2 | $20.04 |
Bid/Ask Midpoint | $20.04 |
Bid/Ask Discount | 0.10% |
30-Day Median Bid/Ask Spread3 | 0.05% |
Total Net Assets | $233,700,027 |
Outstanding Shares | 11,650,002 |
Daily Volume | 100,468 |
Average 30-Day Daily Volume | 117,379 |
Closing Market Price 52-Week High/Low | $20.04 / $19.89 |
Closing NAV 52-Week High/Low | $20.06 / $19.90 |
Number of Holdings (excluding cash) | 204 |
Holding |
Percent |
PENNSYLVANIA ST ECON DEV FING AUTH Variable rate, due 08/01/2045 |
2.16% |
NORTH CAROLINA ST TURNPIKE AUTH N/C, 5%, due 02/01/2024 |
1.39% |
DOVER NJ N/C, 5%, due 01/24/2024 |
1.30% |
MISSION TX ECON DEV CORP SOL WST DISP Variable rate, due 01/01/2026 |
1.30% |
PATRIOTS ENERGY GROUP FING AGY SC Variable rate, due 10/01/2048 |
1.19% |
NTHRN KY WTR DIST REVENUE N/C, 4%, due 02/01/2025 |
1.16% |
PENNSYLVANIA ST TURNPIKE COMMN TPK REV 5%, due 12/01/2038 |
1.13% |
CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK Variable rate, due 01/01/2050 |
1.12% |
PORTLAND OR WTR SYS REVENUE N/C, 5%, due 05/01/2025 |
1.11% |
HAWAII ST ARPTS SYS REVENUE N/C, 5%, due 07/01/2024 |
1.09% |
*Â Excluding cash.Â
Holdings are subject to change.
State |
Percent |
Texas |
14.35% |
Illinois |
7.73% |
Pennsylvania |
6.80% |
New York |
6.42% |
New Jersey |
5.76% |
Georgia |
5.40% |
Kentucky |
4.75% |
Florida |
4.06% |
Colorado |
3.40% |
Indiana |
3.35% |
Past performance is not indicative of future results.
Among 210 funds in the Muni National Short category. This fund was rated 4 stars/210 funds (3 years) based on risk adjusted returns.
Weighted Average Effective Duration11 | 0.61 Years |
Weighted Average Modified Duration12 | 0.60 Years |
Weighted Average Maturity | 0.65 Years |
Weighted Average Price | $100.16 |
Weighted Average Coupon | 4.57% |
Weighted Average Yield-to-Worst13 | 4.12% |
Portfolio information statistics exclude cash and other assets and liabilities.
Years |
Percent |
Net cash & equiv. |
0.08% |
1-3 months |
35.87% |
3-6 months |
9.73% |
6-12 months |
27.03% |
1-2 years |
24.87% |
2-3 years |
2.22% |
>3 years |
0.20% |
|
2022 |
Q1 2023 |
Q2 2023 |
Q3 2023 |
Days Traded at Premium |
202 |
31 |
7 |
7 |
Days Traded at Discount |
49 |
31 |
55 |
56 |
Cash
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0.08%
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AAA
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15.81%
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AA
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41.06%
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A
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22.04%
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BBB
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6.07%
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BB
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0.40%
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B
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0.31%
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NR
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2.67%
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SP-1+ (short-term)
|
6.31%
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SP-1/MIG1 (short-term)
|
5.25%
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The credit quality information presented reflects the ratings assigned by one or more nationally recognized statistical rating organizations (NRSROs), including S&P Global Ratings, Moody's Investors Service, Inc., Fitch Ratings or a comparably rated NRSRO. For situations in which a security is rated by more than one NRSRO and ratings are not equivalent, the highest ratings are used. Sub-investment grade ratings are those rated BB+/Ba1 or lower. Investment grade ratings are those rated BBB-/Baa3 or higher. The credit ratings shown relate to the creditworthiness of the issuers of the underlying securities in the Fund, and not to the Fund or its shares. Credit ratings are subject to change.
PRE/ETM
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14.07%
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GO-UNLTD
|
13.90%
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WATER & SEWER
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7.99%
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IDB
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7.54%
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GAS
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7.47%
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DEDICATED TAX
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7.37%
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INSURED
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6.64%
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COP
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6.58%
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Airport
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5.60%
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HOSPITAL
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4.60%
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Standard Deviation |
Alpha |
Beta |
Sharpe Ratio |
Correlation |
FUMB |
0.78% |
-0.20 |
1.19 |
-1.33 |
0.94 |
Bloomberg Municipal Short-Term Index |
0.64% |
--- |
1.00 |
-1.14 |
1.00 |
Standard Deviation is a measure of price variability (risk). Alpha is an indication of how much an investment outperforms or underperforms
on a risk-adjusted basis relative to its benchmark.Beta is a measure of price variability relative to the market. Sharpe Ratio is a measure
of excess reward per unit of volatility. Correlation is a measure of the similarity of performance.
Bloomberg Municipal Short-Term Index - The Index is a subset of the Bloomberg Municipal Bond Index that measures the performance of investment-grade municipal bond issues with remaining maturities of 0 to 1 years.
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The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
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