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Morningstar

First Trust Flexible Muncpl Hgh Inc ETF MFLX

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

Morningstar’s Analysis MFLX

Will MFLX 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 MFLX’s performance objective and investment process is for both security selection and portfolio construction.

People Pillar

The People Pillar is our evaluation of the MFLX 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 MFLX’s parent organization’s priorities and whether they’re in line with investors’ interests.

null Morningstar Manager Research

Morningstar Manager Research

Summary

The combination of a middling Process Pillar rating and a Below Average People Pillar rating limit First Trust Flexible Muncpl Hgh Inc ETF to a Morningstar Medalist Rating of Neutral. Fees are a weakness here. The strategy's lofty fees are a high hurdle to clear, as it is priced within the second-highest quintile among peers.

by Morningstar Manager Research
Rated on Published on

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Portfolio Holdings MFLX

More MFLX Holdings
  • Current Portfolio Date
  • Equity Holdings 0
  • Bond Holdings 47
  • Other Holdings 16
  • % Assets in Top 10 Holdings 25.1
Top 10 Holdings
% Portfolio Weight
Market Value USD
Sector

PALM BEACH CNTY FLA HEALTH FACS AUTH HOSP REV

3.05
371,193
municipal

LONG BEACH CALIF ARPT REV

2.84
345,050
municipal

CHICAGO ILL BRD ED

2.60
316,467
municipal

OREGON ST FACS AUTH REV

2.55
309,988
municipal

SAN FRANCISCO CALIF CITY & CNTY PUB UTILS COMMN PWR REV

2.48
301,451
municipal

MISSISSIPPI BUSINESS FIN CORP MISS SOLID WASTE DISP REV

2.47
300,000
municipal

MONTGOMERY CNTY OHIO HOSP REV

2.39
290,069
municipal

Interest/Overdraft

2.29
278,696
Cash and Equivalents

OHIO ST HIGHER EDL FAC COMMN REV

2.24
272,502
municipal

MIAMI-DADE CNTY FLA AVIATION REV

2.22
270,256
municipal