First TrustBonds & CashMunicipal#237 of 786 by YTD
First Trust Short Duration Managed Municipal ETFFSMB
- AUM
- $668M
- Fee
- 0.34%
- Yield
- 3.2%
- Bumpy · 1Y
- 0.1×S&P
- Volume
- 98K
- NAV
- $19.85
What's insideAll 581 →
KENTUCKY ST PUBLIC ENERGY AUTH Variable rate, due 06/01/2055 0.8%CHICAGO IL O'HARE INTL ARPT REV N/C, 5%, due 01/01/2031 0.8%US Dollar 0.8%OHIO ST AIR QUALITY DEV AUTH Variable rate, due 11/01/2039 0.7%
52-week range2% below the high
$19.36$20.25
| Returns | 1D | 1M | 3M | YTD | 1Y | 3Y | 5Y | MAX |
|---|---|---|---|---|---|---|---|---|
| Total return | +0.1% | +2.1% | +0.3% | +1.7% | +2.4% | +12.3% | +8.2% | +18.2% |
| Peer average | +0.2% | +4.2% | −0.2% | +1.1% | +1.5% | +15.2% | +3.0% | — |
| S&P 500 · VOO | +0.3% | −5.0% | −4.6% | +8.7% | +9.8% | +80.8% | +71.8% | — |
FSMB in One Breath
FSMB Among Municipal ETFs
YTDEnd-of-day Nov 9, 2026 · 141 Municipal ETFs by YTD
$10,000 in FSMB
5Y$10,000 in FSMB became
$10,823
In the S&P 500 (VOO)
$17,177
Total return, dividends in · Oct 29, 2021 – Nov 6, 2026 · S&P 500 uses VOO
FSMB’s Top Holdings
TodayKENTUCKY ST PUKENTUCKY ST PUBLIC ENERGY AUTH Variable rate, due 06/01/20550.8%CHICAGO IL O0.8%US Dollar0.8%OHIO ST AIR 0.7%COLORADO ST 0.7%WHITING IN E0.6%PINELLAS CNT0.6%UTAH CNTY UT0.6%MOBILE AL IN0.6%EFFINGHAM CN0.6%SAINT JOHN T0.6%SOUTHEAST EN0.6%PALM BEACH C0.6%MAIN STREET 0.6%NEW YORK CIT0.6%BURKE CNTY G0.6%CHARLOTTE-ME0.6%NEW MEXICO S0.6%BLACK BELT E0.5%SAINT JAMES 0.5%MIAMI-DADE C0.5%NEW YORK ST 0.5%
KENTUCKY ST PUKENTUCKY ST PUBLIC ENERGY AUTH Variable rate, due 06/01/20550.8%CHICAGO IL O0.8%US Dollar0.8%OHIO ST AIR 0.7%COLORADO ST 0.7%WHITING IN E0.6%PINELLAS CNT0.6%UTAH CNTY UT0.6%MOBILE AL IN0.6%EFFINGHAM CN0.6%SAINT JOHN T0.6%SOUTHEAST EN0.6%
First Trust FSMB · 584 holdings · top 22 shown · tile size = share of the fund · as of Nov 6, 2026
What FSMB Holds
TodayAll holdings100.0%
KENTUCKY S · CHICAGO IL · US Dollar · OHIO ST AI · COLORADO S · WHITING IN · PINELLAS C
First Trust FSMB · share of the fund · as of Nov 6, 2026
KENTUCKY’s Share of FSMB
Today0.8%
$8 of every $1,000 in FSMB is KENTUCKY
KENTUCKY held by FSMB
$5.6M
First Trust FSMB · each square = $10 of $1,000 · as of Nov 6, 2026
FSMB’s Share of Municipal ETFs
Today0.3%
of the $247B in 166 Municipal ETFs
$668M0.3%
$55.0B22.3%
$49.6B20.1%
$141B57.3%
Municipal ETF AUM · Nov 9, 2026
FSMB Fee per $100 vs Peers
TodayExpense ratio · Municipal peers · Nov 9, 2026
Inside FSMB
584 holdings · as of Nov 6, 2026FSMB
First Trust Short Duration Managed Municipal ETF
TodayAll holdings100.0%570 more holdings90.8% of the fund
All holdings100.0%578 more holdings95.6% of the fund
| # | Ticker | Company | Weight ▼ |
|---|---|---|---|
| 1 | — | KENTUCKY ST PUBLIC ENERGY AUTH Variable rate, due 06/01/2055 | 0.84% |
| 2 | — | CHICAGO IL O'HARE INTL ARPT REV N/C, 5%, due 01/01/2031 | 0.80% |
| 3 | — | US Dollar | 0.77% |
| 4 | — | OHIO ST AIR QUALITY DEV AUTH Variable rate, due 11/01/2039 | 0.72% |
| 5 | — | COLORADO ST HLTH FACS AUTH REV Variable rate, due 11/15/2060 | 0.68% |
| 6 | — | WHITING IN ENVRNMNTL FACS REV Variable rate, due 11/01/2045 | 0.63% |
| 7 | — | PINELLAS CNTY FL HSG FIN AUTH MF HSG REV Variable rate, due 10/01/2043 | 0.61% |
| 8 | — | UTAH CNTY UT HOSP REVENUE Variable rate, due 05/15/2058 | 0.61% |
| 9 | — | MOBILE AL INDL DEV BRD POLL CONTROL Variable rate, due 06/01/2034 | 0.61% |
| 10 | — | EFFINGHAM CNTY GA INDL DEV AUTH Variable rate, due 02/01/2038 | 0.61% |
First Trust FSMB · current holdings by weight · as of Nov 6, 2026 · each tile is one holding · top 20 = 12.5%
All FSMB Holdings
581 holdings · as of Nov 6, 2026FSMB
FSMB’s Holdings
Today| # | |||||
|---|---|---|---|---|---|
| 1 | —KENTUCKY ST PUBLIC ENERGY AUTH Variable rate, due 06/01/2055 | 0.84% | $83.92 | 5.4M | $5.5M |
| 2 | —CHICAGO IL O'HARE INTL ARPT REV N/C, 5%, due 01/01/2031 | 0.80% | $80.20 | 5.0M | $5.3M |
| 3 | —US Dollar | 0.77% | $77.26 | 5.1M | $5.1M |
| 4 | —OHIO ST AIR QUALITY DEV AUTH Variable rate, due 11/01/2039 | 0.72% | $72.34 | 4.8M | $4.8M |
| 5 | —COLORADO ST HLTH FACS AUTH REV Variable rate, due 11/15/2060 | 0.68% | $67.81 | 4.2M | $4.5M |
| 6 | —WHITING IN ENVRNMNTL FACS REV Variable rate, due 11/01/2045 | 0.63% | $62.89 | 4.1M | $4.2M |
| 7 | —PINELLAS CNTY FL HSG FIN AUTH MF HSG REV Variable rate, due 10/01/2043 | 0.61% | $60.72 | 4.0M | $4.0M |
| 8 | —UTAH CNTY UT HOSP REVENUE Variable rate, due 05/15/2058 | 0.61% | $60.53 | 4.0M | $4.0M |
| 9 | —MOBILE AL INDL DEV BRD POLL CONTROL Variable rate, due 06/01/2034 | 0.61% | $60.53 | 4.0M | $4.0M |
| 10 | —EFFINGHAM CNTY GA INDL DEV AUTH Variable rate, due 02/01/2038 | 0.61% | $60.53 | 4.0M | $4.0M |
| 11 | —SAINT JOHN THE BAPTIST PARISH LA Variable rate, due 06/01/2037 | 0.60% | $60.42 | 4.0M | $4.0M |
| 12 | —SOUTHEAST ENERGY AUTHORITY A COOP DIST AL 5%, due 10/01/2030 | 0.60% | $59.76 | 3.8M | $3.9M |
| 13 | —PALM BEACH CNTY FL HLTH FACS AUTH 5%, due 11/15/2032 | 0.59% | $59.27 | 3.9M | $3.9M |
| 14 | —MAIN STREET NATURAL GAS GA Variable rate, due 05/01/2055 | 0.58% | $58.05 | 3.7M | $3.8M |
| 15 | —NEW YORK CITY NY MUNI WTR FIN AUTH Variable rate, due 06/15/2041 | 0.58% | $57.58 | 3.8M | $3.8M |
First Trust FSMB · every reported holding · per $10,000 = dollars of each holding in a $10,000 stake · as of Nov 6, 2026
How It Compares
FSMB
First Trust Short Duration Managed Municipal ETF’s Peers
TodayMunicipal peers · Today’s and past-year returns · as of Nov 9, 2026 · sorted by AUM
Head to Head
Put FSMB head to head with MUB →MUB vs FSMB
YTDYear to date
FSMB wins+1.2 pts
Past year
FSMB wins+1.4 pts
Fee
MUB winslower fee
Yield
MUB wins+0.1 pts
AUM
MUB82.4× more
2–2level
iShares MUB and First Trust FSMB · year-to-date · as of Nov 9, 2026 · AUM not scored
FSMB vs VOO
YTDFSMB · First Trust Short Duration Managed Municipal
+1.7%
VOO · S&P 500
+8.7%
Gap
7.0 pts
First Trust FSMB and Vanguard VOO · Today total return · as of Nov 9, 2026
FSMB vs Its Peer Average
YTDFSMBAvsBPeer average
1D+0.1%+0.2%
1M+2.1%+4.2%
3M+0.3%−0.2%
YTD+1.7%+1.1%
1Y+2.4%+1.5%
3Y+12.3%+15.2%
5Y+8.2%+3.0%
4–3FSMB wins
165 Municipal peers · each row scaled to its leader
How Bumpy Is FSMB?
ViewFSMB
How Bumpy
1Y0.1×the S&P 500’s swings
CalmerBumpierS&P 1×FSMB
Calm rank among 7 municipal funds#2
Other municipal funds0.1× to 0.3×
First Trust FSMB · daily swings over the past year vs the S&P 500
FSMB
Worst Drop
1Y−2.4%from its Aug 13 high
Still below the highAt its high
$10,000 at the high is now$10,000
First Trust FSMB · fall from the highest close, past year
FSMB
On a Bad Day
1Y0.0×the S&P 500’s fall
FSMB’s worst day: Wednesday, Sep 23Up days44 of every 100
S&P 500 up days52 of every 100
First Trust FSMB · average move on days the S&P 500 fell
FSMB
Return for the Bumps
1Y#6 of 7 municipal fundsEvery 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%
FSMB
Cost
Today$34a year per $10,000
Expense ratio 0.34%, taken from the fund’s value
FSMB
Volatility & Beta
1Y1.8%annual volatility
S&P 500 volatility13.6%
Downside volatility1.3%
Beta vs SPY0.03
Correlation vs SPY0.21
Beta rank, lowest first, of 7#2
Daily total returns × √252 · past 254 trading days
FSMB
Max Drawdown
1Y−2.4%peak to trough
Peak closeAug 13, 2026
Current drawdownAt its high
Worst day−0.46% · Sep 23
Closing prices, dividends in
FSMB
Up / Down Capture
1Y2%down capture vs SPY
Up ÷ down capture2.07
Up days44.1% (S&P 52.0%)
Average daily move on SPY up days and down days
FSMB
Sharpe & Sortino vs Peers
1YSharpe = (return − 3.8% cash) ÷ volatility · Sortino uses downside volatility only
FSMB
Trading
Today0.00%at its holdings’ value
Close$19.85
NAV$19.85
Fee per $10,000$34 a year
Avg. volume 30D270K shares
Close vs net asset value, Nov 6
The Details
FSMB
Fund Facts
Today2018launched Nov 1
Tracks[…]
Exchange · CUSIPAMEX · 33739P830
StructureETF
Leverage1x
Cost on $10,000$34 a year
Go deeper
First Trust FSMB · fund facts · as of Nov 9, 2026
FSMB
Payouts by Year
6Y$0.0540per share, Oct 2026
Distribution yield3.2%
PaidEvery month
Latest ex-date · paidOct 21 · Oct 30, 2026
12 payouts added up$0.64 a share
First Trust FSMB · distributions by ex-date · 2021–2026
All Fund FactsDocuments · trading · fees · every payout
Prospectus & Documents
SEC reported portfolio · 2026-07-31 ↗SEC reported portfolio · 2026-04-30 ↗SEC reported portfolio · 2026-01-31 ↗prospectus · SEC 497 ↗summary prospectus · SEC 497K ↗summary prospectus · SEC 497K ↗prospectus · SEC 497 ↗SEC reported portfolio · 2025-10-31 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2025-07-31 ↗SEC reported portfolio · 2025-04-30 ↗SEC reported portfolio · 2025-01-31 ↗SEC reported portfolio · 2024-10-31 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2024-07-31 ↗SEC reported portfolio · 2024-04-30 ↗prospectus · SEC 497 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2024-01-31 ↗SEC reported portfolio · 2023-10-31 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2023-07-31 ↗SEC reported portfolio · 2023-04-30 ↗SEC reported portfolio · 2023-01-31 ↗SEC reported portfolio · 2022-10-31 ↗summary prospectus · SEC 497K ↗summary prospectus · SEC 497K ↗prospectus · SEC 497 ↗SEC reported portfolio · 2022-07-31 ↗SEC reported portfolio · 2022-04-30 ↗summary prospectus · SEC 497K ↗prospectus · SEC 497 ↗SEC reported portfolio · 2022-01-31 ↗prospectus · SEC 497 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2021-10-31 ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2021-07-31 ↗SEC reported portfolio · 2021-04-30 ↗prospectus · SEC 497 ↗SEC reported portfolio · 2021-01-31 ↗SEC reported portfolio · 2020-10-31 ↗summary prospectus · SEC 497K ↗summary prospectus · SEC 497K ↗SEC reported portfolio · 2020-07-31 ↗SEC reported portfolio · 2020-04-30 ↗SEC reported portfolio · 2020-01-31 ↗
Trading & Liquidity
Net asset value$19.85
Premium / discount[…]
Median spread · 30D[…]
Volume today98K
Average volume · 30D270K
Shares outstanding[…]
Options[…]
Fees & Costs
Net expense ratio0.34%
Gross expense ratio[…]
Management fee[…]
Cost on $10,000 a year$34.00
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 | $0.0540 |
| Sep 24, 2026 | Sep 30, 2026 | $0.0540 |
| Aug 21, 2026 | Aug 31, 2026 | $0.0530 |
| Jul 21, 2026 | Jul 31, 2026 | $0.0530 |
| Jun 25, 2026 | Jun 30, 2026 | $0.0530 |
| May 21, 2026 | May 29, 2026 | $0.0530 |
| Apr 21, 2026 | Apr 30, 2026 | $0.0530 |
| Mar 26, 2026 | Mar 31, 2026 | $0.0530 |
| Feb 20, 2026 | Feb 27, 2026 | $0.0530 |
| Jan 21, 2026 | Jan 30, 2026 | $0.0530 |
| Dec 12, 2025 | Dec 31, 2025 | $0.0520 |
| Nov 21, 2025 | Nov 28, 2025 | $0.0520 |
Issuer contentFrom First TrustHear the strategy from the people behind FSMB.No issuer videos have been published for this fund.Are you the issuer? Claim this fund →