First TrustBonds & CashMunicipal#318 of 786 by YTD

First Trust Municipal High Income ETFFMHI

$46.810.0%

$0.00 · Nov 9 close

AUM: $1.1B
Fee: 0.49%
Yield: 4.5%

Bumpy · 1Y: 0.3×S&P
Volume: 310K
NAV: $46.82

NEW YORK CITY NY MUNI WTR FIN AUTH Variable rate, due 06/15/2041 0.8%LOUISVILLE & JEFFERSON CNTY KY REGL ARPT AUTH Variable rate, due 01/01/2029 0.7%CHICAGO IL O'HARE INTL ARPT REV 5.50%, due 01/01/2051 0.7%MOBILE CNTY AL INDL DEV AUTH SOL WST DISP 5%, due 06/01/2054 0.6%

52-week range4% below the high

$44.34$48.73

Returns	Today	1W	1M	3M	YTD	1Y	3Y	5Y	Max
Total return	0.0%	+1.2%	+5.0%	−1.0%	+1.4%	+1.9%	+18.7%	+3.0%	+29.5%
Peer average	+0.1%	+0.9%	+3.9%	−0.1%	+1.2%	+1.5%	+14.6%	+3.2%	—
S&P 500 · VOO	+2.3%	+0.1%	−3.3%	−2.1%	+11.3%	+13.6%	+81.6%	+75.4%	—

FMHI in One Breath

FMHI Among Municipal ETFs

YTD

#1MMMANY Life Investments+3.5%$60.0M

#2TAXTFlexShares+2.8%$198M

#3MYMGSPDR+2.6%$8.6M

#4SMMUPIMCO+2.5%$1.3B

#5OVMOverlay Shares+2.4%$45.7M

#6INMUiShares+2.4%$814M

#7SHYMiShares+2.4%$931M

#8TMNLT. Rowe Price+2.3%$24.7M

#63FMHIFirst Trust+1.4%$1.1B

End-of-day Nov 9, 2026 · 141 Municipal ETFs by YTD

$10,000 in FMHI

$10,000 in FMHI became

$10,299

In the S&P 500 (VOO)

$17,543

Total return, dividends in · Nov 1, 2021 – Nov 9, 2026 · S&P 500 uses VOO

FMHI’s Top Holdings

Today

NEW YORK CITY NEW YORK CITY NY MUNI WTR FIN AUTH Variable rate, due 06/15/20410.8%LOUISVILLE &0.7%CHICAGO IL O0.7%MOBILE CNTY 0.6%PUERTO RICO 0.6%NEW HOPE CUL0.6%ATLANTA GA A0.5%PUB FIN AUTH0.5%PENNSYLVANIA0.5%DIST OF COLU0.5%MOBILE AL IN0.5%PENSACOLA FL0.4%ILLINOIS ST 0.4%PUERTO RICO 0.4%BLACK BELT E0.4%BUCKEYE OH T0.4%VIRGINIA SMA0.4%SAINT LOUIS 0.4%MARICOPA CNT0.4%ARKANSAS DEV0.4%SPRING VLY I0.4%EDGEWATER EA0.4%

First Trust FMHI · 787 holdings · top 22 shown · tile size = share of the fund · as of Nov 9, 2026

What FMHI Holds

Today

All holdings100.0%

NEW YORK C · LOUISVILLE · CHICAGO IL · MOBILE CNT · PUERTO RIC · NEW HOPE C · ATLANTA GA

First Trust FMHI · share of the fund · as of Nov 9, 2026

NEW’s Share of FMHI

Today

0.8%

$8 of every $1,000 in FMHI is NEW

NEW held by FMHI

$8.8M

First Trust FMHI · each square = $10 of $1,000 · as of Nov 9, 2026

FMHI’s Share of Municipal ETFs

Today

0.5%

of the $247B in 166 Municipal ETFs

FMHI$1.1B0.5%

MUB$55.0B22.3%

VTEB$49.6B20.1%

163 others$141B57.1%

Municipal ETF AUM · Nov 9, 2026

FMHI Fee per $100 vs Peers

Today

$0.49a year
per $100

$49 a year on $10,000

VTEB$0.03

MUB$0.05

SUB$0.07

JMUB$0.18

CGMU$0.27

FMHI$0.49

Expense ratio · Municipal peers · Nov 9, 2026

Inside FMHI

787 holdings · as of Nov 9, 2026

FMHI

First Trust Municipal High Income ETF

Today

All holdings100.0%773 more holdings92.4% of the fund

All holdings100.0%781 more holdings96.1% of the fund

#	Ticker	Company	Weight ▼
1	—	NEW YORK CITY NY MUNI WTR FIN AUTH Variable rate, due 06/15/2041	0.79%
2	—	LOUISVILLE & JEFFERSON CNTY KY REGL ARPT AUTH Variable rate, due 01/01/2029	0.74%
3	—	CHICAGO IL O'HARE INTL ARPT REV 5.50%, due 01/01/2051	0.66%
4	—	MOBILE CNTY AL INDL DEV AUTH SOL WST DISP 5%, due 06/01/2054	0.58%
5	—	PUERTO RICO SALES TAX FING 4.329%, due 07/01/2040	0.56%
6	—	NEW HOPE CULTURAL EDU FACS FIN TX Variable rate, due 08/01/2055	0.55%
7	—	ATLANTA GA ARPT REVENUE 5.50%, due 07/01/2051	0.51%
8	—	PUB FIN AUTH WI TAX INCREMENT REV 5%, due 06/01/2041	0.49%
9	—	PENNSYLVANIA ST ECON DEV FING AUTH 5.25%, due 06/30/2053	0.49%
10	—	DIST OF COLUMBIA WTR & SWR AUTH Variable rate, due 10/01/2060	0.45%

See all 788 holdings ↓

First Trust FMHI · current holdings by weight · as of Nov 9, 2026 · each tile is one holding · top 20 = 10.0%

All FMHI Holdings

788 holdings · as of Nov 9, 2026

FMHI

FMHI’s Holdings

Today

#
1	—NEW YORK CITY NY MUNI WTR FIN AUTH Variable rate, due 06/15/2041	0.79%	$79.00	8.7M	$8.7M
2	—LOUISVILLE & JEFFERSON CNTY KY REGL ARPT AUTH Variable rate, due 01/01/2029	0.74%	$73.55	8.1M	$8.1M
3	—CHICAGO IL O'HARE INTL ARPT REV 5.50%, due 01/01/2051	0.66%	$65.78	7.1M	$7.2M
4	—MOBILE CNTY AL INDL DEV AUTH SOL WST DISP 5%, due 06/01/2054	0.58%	$58.49	7.0M	$6.4M
5	—PUERTO RICO SALES TAX FING 4.329%, due 07/01/2040	0.56%	$55.51	6.3M	$6.1M
6	—NEW HOPE CULTURAL EDU FACS FIN TX Variable rate, due 08/01/2055	0.55%	$55.39	6.1M	$6.1M
7	—ATLANTA GA ARPT REVENUE 5.50%, due 07/01/2051	0.51%	$50.83	5.4M	$5.6M
8	—PUB FIN AUTH WI TAX INCREMENT REV 5%, due 06/01/2041	0.49%	$48.66	5.4M	$5.4M
9	—PENNSYLVANIA ST ECON DEV FING AUTH 5.25%, due 06/30/2053	0.49%	$48.66	5.5M	$5.4M
10	—DIST OF COLUMBIA WTR & SWR AUTH Variable rate, due 10/01/2060	0.45%	$45.40	5.0M	$5.0M
11	—MOBILE AL INDL DEV BRD POLL CONTROL Variable rate, due 06/01/2034	0.45%	$45.40	5.0M	$5.0M
12	—PENSACOLA FL ARPT REVENUE 5.50%, due 10/01/2050	0.45%	$44.78	4.8M	$4.9M
13	—ILLINOIS ST 5.50%, due 03/01/2047	0.44%	$43.99	4.8M	$4.8M
14	—PUERTO RICO CMWLTH AQUEDUCT & SWR AUTH 4%, due 07/01/2047	0.43%	$43.41	5.8M	$4.8M
15	—BLACK BELT ENERGY GAS DIST AL 5%, due 10/01/2035	0.43%	$43.23	4.6M	$4.8M

First Trust FMHI · every reported holding · per $10,000 = dollars of each holding in a $10,000 stake · as of Nov 9, 2026

How It Compares

FMHI

First Trust Municipal High Income ETF’s Peers

YTD


MUB	iSharesRead Desk	0.05%	+0.7%	+1.1%	$55.0B
VTEB	VanguardRead Desk	0.03%	+0.8%	+1.2%	$49.6B
SUB	iSharesRead Desk	0.07%	+1.6%	+2.4%	$13.4B
JMUB	J.P. MorganRead Desk	0.18%	+1.0%	+1.4%	$9.2B
CGMU	Capital GroupRead Desk	0.27%	+1.4%	+2.0%	$7.7B
FMHI	First TrustThis fundRead Desk	0.49%	+1.4%	+1.9%	$1.1B

Municipal peers · YTD and past-year returns · as of Nov 10, 2026 · sorted by AUM

Head to Head

Put FMHI head to head with MUB →

MUB vs FMHI

YTD

MUBiShares · MunicipalFMHIFirst Trust · Municipal

Year to date

+0.7%

+1.4%

FMHI wins+0.7 pts

Past year

+1.1%

+1.9%

FMHI wins+0.8 pts

Fee

0.05%

0.49%

MUB winslower fee

Yield

3.3%

4.5%

FMHI wins+1.2 pts

AUM

$55.0B

$1.1B

MUB49.3× more

3–1FMHI wins

iShares MUB and First Trust FMHI · year-to-date · as of Nov 10, 2026 · AUM not scored

FMHI vs VOO

YTD

FMHI · First Trust Municipal High Income

+1.4%

VOO · S&P 500

+11.3%

Gap

9.9 pts

First Trust FMHI and Vanguard VOO · YTD total return · as of Nov 10, 2026

FMHI vs Its Peer Average

YTD

FMHIAvsBPeer average

1D0.0%+0.1%

1M+5.0%+3.9%

3M−1.0%−0.1%

YTD+1.4%+1.2%

1Y+1.9%+1.5%

3Y+18.7%+14.6%

5Y+3.0%+3.2%

4–3FMHI wins

165 Municipal peers · each row scaled to its leader

How Bumpy Is FMHI?

View

FMHI

How Bumpy

0.3×the S&P 500’s swings

CalmerBumpierS&P 1×FMHI

Bumpiest of 7 municipal fundsFMHI

Other municipal funds0.1× to 0.3×

First Trust FMHI · daily swings over the past year vs the S&P 500

FMHI

Worst Drop

−7.4%from its Jul 2 high

Still below the high−2.2%

$10,000 at the high is now$9,780

First Trust FMHI · fall from the highest close, past year

FMHI

On a Bad Day

0.1×the S&P 500’s fall

FMHI’s worst day: Monday, Sep 28

FMHI

−1.1%

S&P 500

−0.7%

Up days50 of every 100

S&P 500 up days52 of every 100

First Trust FMHI · average move on days the S&P 500 fell

FMHI

Return for the Bumps

1Y#1 of 7 municipal funds

#1FMHIFirst Trust

closest to cash

#2CGMUCapital Group

#3JMUBJ.P. Morgan

#4VTEBVanguard

#5MUBiShares

#6CMFiShares

#7SUBiShares

Every fund here earned less than cash (3.8%) over the past year; the bars still rank them by return for the bumps.

Ranked by return above cash for each unit of bumpiness (Sharpe ratio) · cash = 3.8%

FMHI

Cost

Today

$49a year per $10,000

VTEB

MUB

SUB

CMF

JMUB

$18

CGMU

$27

FMHI

$49

Expense ratio 0.49%, taken from the fund’s value

FMHI

Volatility & Beta

4.1%annual volatility

S&P 500 volatility13.7%

Downside volatility3.0%

Beta vs SPY0.08

Correlation vs SPY0.27

Beta rank, lowest first, of 7#7

Daily total returns × √252 · past 254 trading days

FMHI

Max Drawdown

−7.4%peak to trough

Peak closeJul 2, 2026

Current drawdown−2.2%

Worst day−1.13% · Sep 28

Closing prices, dividends in

FMHI

Up / Down Capture

12%down capture vs SPY

Down days

12%

Up days

12%

S&P 500

100%

Up ÷ down capture1.04

Up days50.4% (S&P 52.4%)

Average daily move on SPY up days and down days

FMHI

Sharpe & Sortino vs Peers

Fund	Sharpe	Sortino	Volatility	Max DD	Beta	Fee / $10k
FMHI	−0.48	−0.65	4.1%	−7.4%	0.08	$49
CGMU	−0.58	−0.79	3.0%	−5.6%	0.06	$27
JMUB	−0.70	−0.96	3.4%	−5.9%	0.06	$18
VTEB	−0.71	−0.98	3.6%	−6.6%	0.07	$3
MUB	−0.72	−1.00	3.7%	−6.3%	0.08	$5
CMF	−0.79	−1.06	3.6%	−6.5%	0.08	$8
SUB	−0.98	−1.44	1.4%	−1.9%	0.02	$7

Sharpe = (return − 3.8% cash) ÷ volatility · Sortino uses downside volatility only

FMHI

Trading

Today

[…]premium / discount: the NAV on file is from an earlier day

Close$46.81

NAV$46.82

Fee per $10,000$49 a year

Avg. volume 30D436K shares

Premium / discount history starts once daily NAV is saved

Close vs net asset value, Nov 9

The Details

FMHI

Fund Facts

Today

2017launched Nov 1

Tracks[…]

Exchange · CUSIPNASDAQ · 33739P301

StructureETF

Leverage1x

Cost on $10,000$49 a year

Go deeper

Prospectus & documents Trading & liquidity Fees & costs Distributions

First Trust FMHI · fund facts · as of Nov 10, 2026

FMHI

Payouts by Year

$0.18per share, Oct 2026

Distribution yield4.5%

PaidEvery month

Latest ex-date · paidOct 21 · Oct 30, 2026

12 payouts added up$2.10 a share

First Trust FMHI · distributions by ex-date · 2021–2026

All Fund FactsDocuments · trading · fees · every payout

Prospectus & Documents

Trading & Liquidity

Net asset value$46.82

Premium / discount[…]

Median spread · 30D[…]

Volume today310K

Average volume · 30D436K

Shares outstanding[…]

Options[…]

Fees & Costs

Net expense ratio0.49%

Gross expense ratio[…]

Management fee[…]

Cost on $10,000 a year$49.00

Our risk indicator2/5

Estimated yearly cost excludes trading costs and assumes constant assets.

Distributions

Ex-date	Paid	Per share
Oct 21, 2026	Oct 30, 2026	$0.18
Sep 24, 2026	Sep 30, 2026	$0.18
Aug 21, 2026	Aug 31, 2026	$0.18
Jul 21, 2026	Jul 31, 2026	$0.18
Jun 25, 2026	Jun 30, 2026	$0.18
May 21, 2026	May 29, 2026	$0.18
Apr 21, 2026	Apr 30, 2026	$0.17
Mar 26, 2026	Mar 31, 2026	$0.17
Feb 20, 2026	Feb 27, 2026	$0.17
Jan 21, 2026	Jan 30, 2026	$0.17
Dec 12, 2025	Dec 31, 2025	$0.17
Nov 21, 2025	Nov 28, 2025	$0.17

Issuer contentFrom First TrustHear the strategy from the people behind FMHI.No issuer videos have been published for this fund.Are you the issuer? Claim this fund →