First Eagle Core Municipal ETF
FECM
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Mehdi Mahmud
- Sector
- Financial Services
- Industry
- Asset Management
- Address
- 1345 Avenue of the Americas New York NY United States of America 10105
- IPO Date
- Jul 1, 2026
- CIK
- 0002083193
- Website
- firsteagle.com
- Similar Companies
- Business
- First Eagle Core Municipal ETF (FECM) is an actively managed municipal bond ETF that seeks to provide current tax-exempt income with capital appreciation as a secondary objective, primarily by allocating to investment-grade and select high-yield U.S. municipal bonds and related floating-rate securities. Main products and services - Core municipal fixed income solutions: actively managed EFT exposure to high-quality and selective high-yield municipal bonds; emphasis on tax-exempt current income with capital appreciation as a secondary objective. - Floating-rate municipal securities: allocation to short-duration floating-rate instruments issued by municipal entities, including tender option bond structures where appropriate, to enhance income during varying rate environments. - Risk-managed municipal strategies: diversification across general obligation and revenue bonds, with attention to sector and credit risk, liquidity features, and duration management; use of leverage techniques or hedging as determined by the mandate. - Sub-advised and fund-level wrappers: operates within a broader family of First Eagle municipal strategies, including related core-plus and high-yield municipal fund products, offering investors access through multiple share classes and fee structures. Geographic and strategic footprint - Geography: U.S. municipal market exposure with focus on domestic state and local government issuances; portfolio construction reflects nationwide availability of tax-exempt munis. - Market positioning: targets taxable-equivalent income for U.S. investors seeking federal tax-exempt yield with diversified sector and credit risk management. Founding and headquarters - Founded: First Eagle Investments traces its roots to prior municipal investing platforms and joined under the First Eagle umbrella; the fund family operates from First Eagle's headquarters and investment teams. (Founding year and primary headquarters are linked to the firm’s broader history rather than a standalone corporate entity for the ETF itself.) Subsidiaries and parent relationships - Parent/affiliates: ETF is part of the First Eagle Investments family, leveraging the firm’s investment platform, research, and global distribution infrastructure. Recent major changes - Product launches and enhancements: introduction of the Core Plus Municipal Fund strategy and related ETF structure to broaden access to a diversified, high-conviction municipal income approach; accompanying marketing and distribution initiatives to expand investor reach. - Strategic partnerships and expansions: ongoing collaborations within the First Eagle platform to align municipal strategies with client needs, including cross-fund product integration and platform-level marketing campaigns. - Portfolio and product updates: periodic revisions to holdings and strategy allocations to reflect market opportunities in investment-grade and selective high-yield municipal bonds; adjustments to floating-rate municipal exposure through TOB-related instruments as appropriate to the mandate. - Corporate actions: no major reorganizations publicly disclosed within the last 1–2 years beyond standard fund-level amendments, share-class initiatives, and ongoing fund research disclosures. Industry and business segments - Industry: Financial services; Investment management; Fixed-income and municipal bond strategies. - Business segments: U.S. municipal fixed-income management; product development for municipal bond funds and ETFs; client-focused distribution across institutional and retail channels. Target markets and customers - Clients: individual investors seeking tax-exempt income; high-net-worth individuals; financial advisors; defined contribution and defined benefit plans seeking municipal income exposure; wholesale and intermediary channels. Notes on disclosures - The ETF is designed to provide regular income exempt from federal personal income tax, with capital appreciation as a secondary objective, and normally invests at least 80% of net assets in qualifying municipal bonds, consistent with the fund’s stated objective. This description reflects the fund's core purpose, product scope, and strategic position within First Eagle Investments’ municipal bond offerings, emphasizing the ETF’s focus on tax-exempt income, diversified municipal exposure, and risk-managed fixed-income strategies.