FMB – First Trust Managed Municipal ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks to generate current income that is exempt from regular federal income taxes and its secondary objective is long term capital appreciation. Under normal market conditions, the fund seeks to achieve its investment objectives 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.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
FMB	First Trust Managed Municipal ETF	ETF	Open			May 13, 2014	$1.95B	0.390%	—	—	$114.09M

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