MFLX – First Trust Flexible Muncpl Hgh Inc ETF – ETF Investment Strategy | Morningstar

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Strategy

The investment seeks to provide current income. Under normal market conditions, the fund seeks to achieve its investment objective by investing at least 80% of its net assets (plus any investment borrowings) in municipal debt securities that pay interest that is exempt from regular federal income taxes. Municipal debt securities are generally issued by or on behalf of states, territories or possessions of the United States and the District of Columbia and their political subdivisions, agencies, authorities and other instrumentalities.

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
MFLX	First Trust Flexible Municipal High Income ETF	ETF	Open			Sep 27, 2016	$20.40M	0.490%	—	—	$2.88M

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