First TrustMuni National ShortFSMB · NYSE Arca

First Trust Short Duration Managed Municipal ETF (FSMB)

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Price: $19.78; —30 Oct 2026
Assets: $637.9M; Total net assets
Expense ratio: 0.34%; Category 0.54%
Yield: 3.26%; Trailing distributions

1Y return: 1.9%-0.4%; Category 2.3%
3Y CAGR: 3.9%+0.3%; Category 3.6%
5Y CAGR: 1.5%-0.4%; Category 1.9%

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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	+1.9%	+0.3%	+0.6%	+1.3%	+1.9%	+3.9%	+1.5%	—	+2.1%
Muni National Short average	1.5%	0.5%	0.9%	1.6%	2.3%	3.6%	1.9%	1.6%	2.3%
Difference	+0.4%	-0.2%	-0.3%	-0.3%	-0.4%	+0.3%	-0.4%	—	-0.2%

Holdings

Allocation as last published by the fund.

Credit quality

Share of the bonds by rating.

AA40.2%
A36.5%
BBB11.7%
BB4.0%
B0.5%
Other8.2%

Asset mix

Bonds98.2%
Cash1.8%

ETF details

Issuer: First Trust
Category: Fixed Income · Muni National Short
Ticker: FSMB
Exchange: NYSE Arca
Inception: 1 Nov 2018 (8.0 years)
Structure: Exchange Traded Fund
Expense ratio: 0.34% (category 0.54%)
Holdings turnover: 30% (category 59%)
Distribution yield: 3.26%
Beta, 3 years: 0.37
Total net assets: $637.9M
Average duration: 4.32 years
Average maturity: 9.98 years

Prices and returns as of 30 Oct 2026; total return with distributions reinvested, before brokerage and taxes. Not investment advice.

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