First Trust Managed Municipal ETF
FMB
NASDAQ Global Market- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Bonds
- Address
- 120 East Liberty Drive Wheaton United States of America 60187
- IPO Date
- May 15, 2014
- CIK
- 0001424212
- Website
- ftportfolios.com
- Similar Companies
- Business
- First Trust Managed Municipal ETF (FMB) is an actively managed exchange-traded fund that seeks current income exempt from regular federal income taxes and secondary long-term capital appreciation by investing at least 80% of its net assets in investment-grade municipal debt securities issued by or on behalf of U.S. states, territories, possessions, and their political subdivisions, agencies, and instrumentalities. The fund primarily holds a diversified portfolio of approximately 1,238 municipal bonds across varying maturities and sectors, including revenue bonds from airports (e.g., Atlanta GA Airport Passenger Facility Charge Revenue), healthcare facilities (e.g., Colorado Health Facilities Authority), toll roads (e.g., North Texas Tollway Authority), utilities, education, and general obligations from issuers such as New York City NY, Puerto Rico Sales Tax Financing Corporation, and Texas Municipal Gas Acquisition; it maintains 99.72% allocation to municipals, with minor exposures to cash (0.17%) and asset-backed securities (0.12%), emphasizing broad maturities and investment-grade ratings while allowing limited high-yield exposure for yield enhancement. Managed by First Trust Advisors L.P., an affiliate of First Trust Portfolios L.P., the ETF trades on NASDAQ, holds assets under management of approximately $1.90-$1.92 billion, and features a gross expense ratio of 0.65% (contractually capped at 0.50%). Launched on May 13, 2014, and headquartered in Wheaton, Illinois, FMB targets tax-sensitive individual and institutional investors seeking U.S. municipal fixed income exposure with active management to navigate liquidity and credit risks in the municipal securities market. Recent developments include ongoing monthly dividend distributions, such as $0.144 per share declared in June 2025 and $0.146 per share in November 2025, alongside sustained portfolio adjustments amid market volatility; First Trust Advisors L.P. reported managing approximately $235 billion in total assets as of July 2024, reflecting the firm's expanded scale supporting FMB's operations.