First TrustMuni National ShortFSMB · NYSE Arca

First Trust Short Duration Managed Municipal ETF (FSMB)

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Price: $19.75; —11 Sept 2026
Assets: $623.1M; Total net assets
Expense ratio: 0.34%; Category 0.54%
Yield: 3.18%; Trailing distributions

1Y return: 1.1%-0.4%; Category 1.4%
3Y CAGR: 3.3%+0.2%; Category 3.1%
5Y CAGR: 1.3%-0.4%; Category 1.7%

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First Trust Short Duration Managed Municipal ETF

Calendar-year returns

Fund only: no comparison series covers this fund's history.

Risk statistics

Five years of daily closes. Risk-free rate 4% a year.

Standard deviation: —
Maximum drawdown: —
Sharpe ratio: —
Sortino ratio: —
Beta: —
Alpha: —
R²: —
Information ratio: —
Upside capture: —
Downside capture: —
Tracking error: —

Trailing returns compared with benchmark
Period	1M	3M	6M	YTD	1Y	3YCAGR	5YCAGR	10YCAGR	LaunchCAGR
ETF	-0.7%	-0.5%	-0.3%	+0.6%	+1.1%	+3.3%	+1.3%	—	+2.1%
Muni National Short average	-0.4%	-0.1%	0.2%	1.0%	1.4%	3.1%	1.7%	1.5%	2.3%
Difference	-0.3%	-0.4%	-0.6%	-0.3%	-0.4%	+0.2%	-0.4%	—	-0.2%

Holdings

Allocation as last published by the fund.

Credit quality

Share of the bonds by rating.

AAA0.6%
AA40.4%
A34.0%
BBB11.8%
BB4.1%
B0.5%
Other8.6%

Asset mix

Bonds99.3%
Cash0.8%

ETF details

Issuer: First Trust
Category: Fixed Income · Muni National Short
Ticker: FSMB
Exchange: NYSE Arca
Inception: 1 Nov 2018 (7.9 years)
Structure: Exchange Traded Fund
Expense ratio: 0.34% (category 0.54%)
Holdings turnover: 45% (category 59%)
Distribution yield: 3.18%
Beta, 3 years: 0.36
Total net assets: $623.1M
Average duration: 4.31 years
Average maturity: 10.20 years

Prices and returns as of 11 Sept 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

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