First Trust Flexible Municipal High Income ETF

The First Trust Flexible Municipal High Income ETF (the "Fund") seeks to provide current income.

$17.26

Key Metrics

TER 75.00% per year
Distribution policy Distributing
Fund size USD 18 M
Inception date September 27, 2016
Holdings 75
Fund currency USD
Fund domicile US
Provider First Trust
For full official fund details, factsheets, and holdings, visit ftportfolios.com (opens in new tab).

Compare similar ETFs

Fund Size
Dividend
Fees
Current
Flexible Municipal High Income ETF MFLX
Fund Size
$18.2M
Dividend
4.1%
Fees
75.00%

Historical Return

Last updated: Jun 01, 2026
1 Year +4.4% +4.1% Div
3 Years (avg.) +1.5% +4.1% Div
5 Years (avg.) +0.2% +4.1% Div

Risk & Analysis Metrics

Last updated: Jun 01, 2026

Volatility

4.15% 1 Year
10.12% 3 Years
10.61% 5 Years
10.61% 10 Years

Max Drawdown

-3.46% 1 Year
-8.92% 3 Years
-12.62% 5 Years
-12.62% 10 Years

Sharpe Ratio

-0.07 1 Year
-0.23 3 Years
-0.33 5 Years
-0.33 10 Years

Return Triangle (Heatmap)

Last updated: Jun 01, 2026
2022 2023 2024 2025
2022 -4.8% -0.1% 0.2% 0.1%
2023 4.9% 2.8% 1.9%
2024 0.8% 0.4%
2025 -0.1%

Distributions

*by ETF Portfolio Weight Last updated: Jun 01, 2026

Profit Margin Distribution

< 0%
23%
1y 3y N/A N/A
0 - 5%
0%
1y 3y N/A N/A
5 - 10%
0%
1y 3y N/A N/A
10 - 15%
0%
1y 3y N/A N/A
15 - 20%
0%
1y 3y N/A N/A
20 - 30%
0%
1y 3y N/A N/A
30 - 40%
9%
1y 3y N/A N/A
> 40%
68%
1y 3y N/A N/A

P/E Ratio Distribution

< 0
23%
1y 3y N/A N/A
0 - 10
0%
1y 3y N/A N/A
10 - 15
0%
1y 3y N/A N/A
15 - 20
0%
1y 3y N/A N/A
20 - 25
7%
1y 3y N/A N/A
25 - 35
31%
1y 3y N/A N/A
35 - 50
24%
1y 3y N/A N/A
> 50
14%
1y 3y N/A N/A

Discounted Cash Flow

Weighted Average Undervaluation
N/A
Undervalued
> 60%
0%
1y 3y N/A N/A
45 - 60%
0%
1y 3y N/A N/A
30 - 45%
0%
1y 3y N/A N/A
15 - 30%
0%
1y 3y N/A N/A
Fair (&plusmn;15%)
0%
1y 3y N/A N/A
Overvalued
15 - 30%
0%
1y 3y N/A N/A
30 - 45%
0%
1y 3y N/A N/A
45 - 60%
0%
1y 3y N/A N/A
> 60%
0%
1y 3y N/A N/A

Market Cap Size Distribution

Micro Cap
0.0%
1y 3y N/A N/A
Small Cap
62.9%
1y 3y N/A N/A
Mid Cap
37.1%
1y 3y N/A N/A
Large Cap
0.0%
1y 3y N/A N/A
Mega Cap
0.0%
1y 3y N/A N/A
Micro: < $300M Small: $300M–$2B Mid: $2B–$10B Large: $10B–$200B Mega: > $200B

Portfolio Concentration

*by ETF Portfolio Weight Last updated: Jun 01, 2026
58.7% Top 5 Holdings
90.1% Top 10 Holdings
100.0% Top 50 Holdings
100.0% Top 100 Holdings
Top 5 Companies
MHD BlackRock MuniHoldings Fund Inc
16.9%
NEA Nuveen AMT-Free Quality Municipal Income Fund
13.8%
NVG Nuveen AMT-Free Municipal Credit Income Fund
10.0%
MMU Western Asset Managed Municipals Fund Inc
9.2%
MYI BlackRock MuniYield Quality Fund III Inc
8.7%

Latest News

almost 2 years ago • seekingalpha.com

MYI: Buy The Discount For Rate-Cut Rally

MYI is a Muni CEF managed by BlackRock with AUM over $800M. It pays a high 5.95% dividend tax free. MYI has a deep NAV Discount at 10.18%, which co...

almost 2 years ago • seekingalpha.com

NEA: Income Boosts Keep Boosting The Market Price

The fund saw another income boost to start the month of June. The muni yield curve is upward sloping, providing a distinct advantage over similarly...

almost 2 years ago • forbes.com

Forget NVIDIA: These ‘Boring' 7.7% Dividends Just Jumped 30%

Some of our favorite high-yield dividends just did something stunning: They sent their investors' payouts soaring—in some cases by more than 30% ov...

Average metrics of all companies in portfolio

Last updated: May 31, 2026
Market
Average
Market Cap The market value of the company. It's calculated by multiplying the share price by the number of outstanding shares. $1.5B -
Dividend Yield Yearly payout to shareholders per share. The percentage indicates the payout in relation to the share price. - 2.02%
Beta Indicates the relationship between the price performance of a share and the market. 0.69 -
P/E Ratio Ratio between share price and earnings per share. A low ratio could indicate that the stock is undervalued or investors aren't expecting high growth. A high ratio could indicate that the stock is overvalued or investors are expecting high growth. 59.92 29.69
Negative P/E Ratio a negative P/E ratio shows that the company is not profitable, and it shows how many years it would take the company to lose its entire market capitalisation if it did not change anything -19.44 -
Profitable Companies 75% -
PEG The ratio between the P/E ratio and the growth rate of the company's earnings per share in the last twelve months. A lower PEG could mean that a stock is undervalued. 21.14 17.06
Price to Sales Ratio Market cap divided by the revenue in the most recent year. 9.94 7.44
Price to Book Ratio Price to Book Ratio is the Market cap divided by the Book value of the company 1.01 11.28
Market
Average
Enterprise Value to EBIT Enterprise Value divided by EBIT 10.43 21.27
Enterprise Value to Revenue Enterprise value divided by revenue 14.29 8.71
Total Debt to Enterprise Value Total debt divided by enterprise value 0.36 0.04
Debt to Equity A higher ratio indicates a higher risk. However, the ratio is difficult to compare between industries where common amounts of debt vary. 0.57 0.27
Profit Margin Net income divided by revenue of the last 4 quarters. It indicates the company's profitability. -1.86% 21.08%
Quarterly Earnings Growth (YoY) The rate at which the company's net income has increased to the same quarter one year ago. +38.0% -107.0%
Return on Equity Equity divided by market cap. 10.00% 3.50%
Return on Assets Indicates a company's profitability in relation to its total assets. 6.09% 4.45%
Return on Invested Capital Return on invested capital (ROIC) is net income after dividends divided by the sum of debt and equity. It shows how effective a company is at turning capital invested by shareholders and other debtholders into profits. 11.08% 4.22%

Countries

Other 94.5%
United States 5.5%
Other 0.0%

Stock Screener

Select filters to narrow down the 13 investments below

13 companies
$0B >$1T

Ratio between share price and earnings per share. A low ratio could indicate undervaluation.

<0 >50

Ratio of dividends in the last 12 months to current share price.

0% 3%

Revenue increase compared to the same quarter one year ago.

0% 30%

Net income increase compared to the same quarter one year ago.

0% 30%

Profitability of the last quarter.

<-30% >30%

A higher ratio indicates a higher risk. The ratio is difficult to compare between industries.

<0 >3

Discounted cash flow valuation vs. current price. Positive = undervalued, negative = overvalued.

<-50% >+100%
Market Cap $607.97M
P/E Ratio -18.8
Dividends 6.1%
Total Investment $211.03K
Weight 1.16%

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Market Cap $3.45B
P/E Ratio 42.0
Dividends 7.2%
Total Investment $173.27K
Weight 0.95%

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Market Cap $2.71B
P/E Ratio 47.4
Dividends 7.5%
Total Investment $125.78K
Weight 0.69%

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Market Cap $563.12M
P/E Ratio 227.8
Dividends 6.3%
Total Investment $115.36K
Weight 0.63%

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Market Cap $731.14M
P/E Ratio 29.4
Dividends 6.1%
Total Investment $109.36K
Weight 0.60%

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Market Cap $2.44B
P/E Ratio 24.2
Dividends 7.6%
Total Investment $85.81K
Weight 0.47%

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Market Cap $559.13M
P/E Ratio 32.8
Dividends 7.5%
Total Investment $82.29K
Weight 0.45%

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Market Cap $2.78B
P/E Ratio 25.7
Dividends 7.2%
Total Investment $79.36K
Weight 0.44%

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Market Cap $524.61M
P/E Ratio 29.3
Dividends 7.6%
Total Investment $75.62K
Weight 0.41%

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Market Cap $822.49M
P/E Ratio -21.4
Dividends 6.1%
Total Investment $70.14K
Weight 0.38%

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Market Cap $427.8M
P/E Ratio 1004.2
Dividends 5.7%
Total Investment $59.21K
Weight 0.32%

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Market Cap $542.29M
P/E Ratio 31.8
Dividends 7.7%
Total Investment $36.88K
Weight 0.20%

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Market Cap $658.22M
P/E Ratio 34.1
Dividends 7.7%
Total Investment $27.93K
Weight 0.15%

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