Home 
Today's Top Picks 
Top Performers 
Watchlist 
My Robo Portfolios 
ETF Zone 
Help & Tutorial 
Cancel anytime
- Chart
- Upturn Summary
- Highlights
Upturn AI SWOT - About
First Trust Municipal High Income ETF (FMHI)
- BUY Advisory
- SELL Advisory (Profit)
- SELL Advisory (Loss)
- Profit
- Loss
- Pass (Skip investing)
Stock price based on last close (see disclosures)
- ALL
- YEAR
- MONTH
- WEEK
Upturn Advisory Summary
08/14/2025: FMHI (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Analysis of Past Performance
Type ETF | Historic Profit 2.66% | Avg. Invested days 45 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  2.0 | ETF Returns Performance  1.0 |
| Profits based on simulation | Last Close 08/14/2025 |
Key Highlights
Volume (30-day avg) - | Beta 1.03 | 52 Weeks Range 44.33 - 48.37 | Updated Date 06/29/2025 |
52 Weeks Range 44.33 - 48.37 | Updated Date 06/29/2025 |
Upturn AI SWOT
First Trust Municipal High Income ETF
ETF Overview
Overview
The First Trust Municipal High Income ETF (FMHI) seeks to provide current income exempt from federal income tax by investing primarily in municipal bonds rated below investment grade. The fund offers exposure to the high-yield municipal bond market, focusing on potentially higher-yielding but riskier bonds.
Reputation and Reliability
First Trust is a well-established ETF issuer with a solid reputation for providing innovative investment solutions.
Management Expertise
First Trust has a dedicated team of experienced portfolio managers specializing in fixed income and municipal bonds.
Investment Objective
Goal
To provide current income exempt from federal income tax.
Investment Approach and Strategy
Strategy: The ETF invests primarily in below-investment-grade municipal bonds.
Composition The portfolio consists primarily of municipal bonds, with a focus on high-yield or 'junk' rated securities.
Market Position
Market Share: Data Unavailable.
Total Net Assets (AUM): 380900000
Competitors
Key Competitors
- HYMB
- CMBS
- VTEB
- ITM
Competitive Landscape
The high-yield municipal bond ETF market is competitive, with several players offering similar strategies. FMHI competes on yield, expense ratio, and risk profile. Its advantage is First Trust's expertise, but it faces competition from larger, more liquid ETFs with lower expense ratios. Disadvantages may include concentration risk and credit risk.
Financial Performance
Historical Performance: Historical performance data is readily available from financial websites. Please refer to the relevant sources for detailed performance figures.
Benchmark Comparison: Compare FMHI's performance to a high-yield municipal bond index such as the S&P Municipal Yield Index.
Expense Ratio: 0.9
Liquidity
Average Trading Volume
The ETF exhibits reasonable liquidity, with an average trading volume that allows investors to enter and exit positions efficiently.
Bid-Ask Spread
The bid-ask spread is generally competitive, reflecting the liquidity of the underlying municipal bond market.
Market Dynamics
Market Environment Factors
Factors affecting FMHI include interest rate movements, credit spreads, and the overall health of the municipal bond market. Economic conditions and tax policy changes can also impact performance.
Growth Trajectory
The growth trajectory depends on the demand for high-yield municipal bonds and First Trust's ability to attract and retain assets under management. Changes in strategy or holdings are regularly disclosed in fund reports.
Moat and Competitive Advantages
Competitive Edge
FMHI benefits from First Trust's established brand and expertise in fixed income ETFs. Its focus on the high-yield municipal bond segment provides a niche offering for investors seeking potentially higher income. The ETF's active management may offer an advantage in navigating the complexities of the high-yield municipal market. The fund is also differentiated by its methodology.
Risk Analysis
Volatility
FMHI's volatility is expected to be higher than investment-grade municipal bond ETFs due to its focus on below-investment-grade securities.
Market Risk
Market risk includes interest rate risk (rising rates can decrease bond values), credit risk (issuers may default), and liquidity risk (some municipal bonds may be difficult to trade).
Investor Profile
Ideal Investor Profile
FMHI is suitable for investors seeking high current income exempt from federal income tax and who are comfortable with a higher level of risk than investment-grade bonds.
Market Risk
The ETF is best for long-term investors seeking tax-advantaged income, but not suitable for risk-averse or short-term investors.
Summary
First Trust Municipal High Income ETF (FMHI) offers investors exposure to high-yield municipal bonds for tax-exempt income. It is actively managed by First Trust, a reputable ETF provider. However, it carries higher risk due to its focus on below-investment-grade bonds, so investors must consider this before investing. Performance can be impacted by market interest rates, and changes in economic conditions, therefore, careful evaluation is advised.
Peer Comparison
Sources and Disclaimers
Data Sources:
- First Trust Website
- ETF.com
- Morningstar
Disclaimers:
The data and analysis provided are for informational purposes only and should not be considered financial advice. Investment decisions should be based on your own research and consultation with a financial advisor. Market share data is often delayed and estimated based on available sources.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About First Trust Municipal High Income ETF
Exchange NASDAQ | Headquaters - | ||
IPO Launch date - | CEO - | ||
Sector - | Industry - | Full time employees - | Website |
Full time employees - | Website | ||
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. Municipal securities are generally issued by or on behalf of states, territories or possessions of the U.S. and the District of Columbia and their political subdivisions, agencies, authorities and other instrumentalities.
Note: This website is maintained by Upturn Corporation, which is an investment adviser registered with the U.S. Securities and Exchange Commission. Such registration does not imply a certain level of skill or training. Investing in securities has risks. Past performance is no guarantee of future returns. No assurance is provided as to any particular investment return, and you may lose money using our services. You are strongly advised to consult appropriate counsel before making any investments in companies you learn about through our services. You should obtain appropriate legal, tax, investment, accounting, and other advice that takes into account your investment portfolio and overall financial situation. You are solely responsible for conducting due diligence on a potential investment. We do not affect trades for you. You will select your own broker through which to transact. Investments are not FDIC insured, they are not guaranteed, and they may lose value. Please see the Privacy Policy, Terms of Use, and Disclosure for more information.