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First Trust Managed Municipal ETF FMB

Morningstar Medalist Rating
Medalist Rating as of | See First Trust Investment Hub

Morningstar’s Analysis FMB

Will FMB outperform in future?

Get our overall rating based on a fundamental assessment of the pillars below.

Process Pillar

The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FMB’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the FMB management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

Parent Pillar

The Parent Pillar is our rating of FMB’s parent organization’s priorities and whether they’re in line with investors’ interests.

A healthy serving of credit risk.

Associate Analyst Max Curtin

Max Curtin

Associate Analyst

Summary

First Trust Managed Municipal ETF FMB’s growing resources are encouraging, but the strategy still lacks the research breadth of larger competitors, especially given its tendency to take significant credit risk. This supports a Morningstar Analyst Rating of Neutral.

by Max Curtin
Rated on Published on

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Portfolio Holdings FMB

More FMB Holdings
  • Current Portfolio Date
  • Equity Holdings 0
  • Bond Holdings 1518
  • Other Holdings 9
  • % Assets in Top 10 Holdings −0.0
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

MEADE CNTY KY INDL BLDG REV 4%

0.90
16,200,000
municipal

Interest/Overdraft

0.84
15,021,207
Cash and Equivalents

MAIN STR NAT GAS INC GA GAS SUPPLY REV 4%

0.78
14,076,368
municipal

NEW YORK N Y CITY TRANSITIONAL FIN AUTH REV 4%

0.56
10,013,806
municipal

BLACK BELT ENERGY GAS DIST ALA GAS PROJ REV 4%

0.55
9,923,968
municipal

ENERGY SOUTHEAST ALA COOP DIST ENERGY SUPPLY REV 5.5%

0.51
9,113,088
municipal

ATLANTA GA ARPT PASSENGER FAC CHARGE REV 4%

0.49
8,846,085
municipal

BURKE CNTY GA DEV AUTH POLLUTN CTL REV 3.35%

0.48
8,700,000
municipal

NEW YORK ST DORM AUTH SALES TAX REV ST SUPPORTED DEBT 5%

0.47
8,433,023
municipal

PUERTO RICO SALES TAX FING CORP SALES TAX REV 4.5%

0.45
8,141,486
municipal