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Upturn AI SWOT - About
First Trust Exchange-Traded Fund III - First Trust New York Municipal High Income ETF (FMNY)
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Upturn Advisory Summary
08/14/2025: FMNY (1-star) has a low Upturn Star Rating. Not recommended to BUY.
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 -1.71% | Avg. Invested days 30 | Today’s Advisory Consider higher Upturn Star rating |
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 0.97 | 52 Weeks Range 24.74 - 26.74 | Updated Date 06/29/2025 |
52 Weeks Range 24.74 - 26.74 | Updated Date 06/29/2025 |
Upturn AI SWOT
First Trust Exchange-Traded Fund III - First Trust New York Municipal High Income ETF
ETF Overview
Overview
The First Trust New York Municipal High Income ETF (VNY) seeks high current income exempt from federal and New York state income taxes by investing in a portfolio of municipal securities issued by New York state and its political subdivisions.
Reputation and Reliability
First Trust is a well-established ETF provider known for its diverse range of investment products.
Management Expertise
First Trust has a dedicated team of portfolio managers with experience in managing fixed-income portfolios, including municipal bonds.
Investment Objective
Goal
To seek high current income exempt from federal and New York state income taxes.
Investment Approach and Strategy
Strategy: The ETF primarily invests in municipal securities issued by New York state and its political subdivisions.
Composition The ETF holds a portfolio of New York municipal bonds.
Market Position
Market Share: Data unavailable.
Total Net Assets (AUM): 38020000
Competitors
Key Competitors
- HYD
- MUB
- NYF
Competitive Landscape
The municipal bond ETF market is competitive, with larger, more liquid ETFs like MUB dominating. VNY focuses specifically on New York municipal bonds, offering tax advantages to NY residents, but potentially limiting its appeal and liquidity compared to broader national municipal bond funds. HYD is focused on high yield municipal bonds.
Financial Performance
Historical Performance: Data unavailable.
Benchmark Comparison: Data unavailable.
Expense Ratio: 0.45
Liquidity
Average Trading Volume
VNY's average trading volume is relatively low, indicating lower liquidity compared to more popular ETFs.
Bid-Ask Spread
The bid-ask spread may be wider than more liquid ETFs, potentially increasing trading costs.
Market Dynamics
Market Environment Factors
Economic conditions in New York, interest rate movements, and changes in tax laws can significantly impact the performance of VNY.
Growth Trajectory
Growth is tied to the demand for New York municipal bonds and the ETF's ability to deliver tax-advantaged income. Strategy changes and holdings are subject to issuer's investment decisions.
Moat and Competitive Advantages
Competitive Edge
VNY's primary advantage is its focus on New York municipal bonds, offering tax benefits specifically to New York residents. This niche focus can be appealing to investors seeking state-specific tax advantages. However, this narrow focus also limits its diversification compared to national municipal bond funds. There are other ETFs which provide similar state-specific exposure; therefore VNY may not be entirely unique.
Risk Analysis
Volatility
Volatility is influenced by interest rate sensitivity and credit risk of the underlying municipal bonds.
Market Risk
Market risk includes the potential for interest rate increases, credit downgrades of New York municipal bonds, and changes in the New York state economy.
Investor Profile
Ideal Investor Profile
The ideal investor is a New York resident seeking high current income exempt from federal and New York state income taxes.
Market Risk
VNY is best suited for long-term investors seeking tax-advantaged income.
Summary
The First Trust New York Municipal High Income ETF (VNY) offers targeted exposure to New York municipal bonds for state residents seeking tax-exempt income. Its performance is tied to the credit quality and interest rate sensitivity of the underlying bonds. Liquidity may be lower compared to broader municipal bond ETFs. Investors should consider the concentration risk and potential impact of New York's economic health.
Peer Comparison
Sources and Disclaimers
Data Sources:
- First Trust Website
- ETF.com
- Bloomberg
Disclaimers:
The data and analysis provided are for informational purposes only and should not be considered investment advice. Consult with a financial advisor before making any investment decisions.
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 Exchange-Traded Fund III - First Trust New York Municipal High Income ETF
Exchange NYSE ARCA | Headquaters - | ||
IPO Launch date - | CEO - | ||
Sector - | Industry - | Full time employees - | Website |
Full time employees - | Website | ||
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 and New York State and New York City income taxes. It may invest in Municipal Securities of any duration and any maturity, however, the Advisor expects it will have an effective duration of approximately 3-9 years. The fund is non-diversified.
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