FMB First Trust Managed Municipal ETF

ETF

ETF quote, holdings, sector allocation, technicals, and options analytics. Fibonacci levels

Market data may be delayed, incomplete, or inaccurate. Not a recommendation to buy, sell, or hold any security. Verify quotes with your broker before trading. See Terms §17.

FMB — —
Key stats
About

First Trust Managed Municipal ETF (FMB) ETF

No description available.

Exchange
XNAS
Inception
2014-05-13
Has Options
No
Fund profile
holdings as of Oct 19, 2026issuer datathrough Jul 2026flows, SEC filings
Municipal Bond National Muni#13 of 70 by assets First Trust US Actively managed
Expense ratio
0.39%
prospectus, filed Feb 27, 2026
Assets
$1.9B
issuer-reported, Oct 19, 2026
Trailing yield
3.80%
paid monthly
Average daily volume
$30M
30 sessions
Holdings
1,252
top 10 are 5.2%
Listed
May 13, 2014
Nasdaq
Last fee change
-26 bp
filed Feb 27, 2026
Net asset value
$48.66
issuer, Oct 19, 2026
30-day SEC yield
4.22%
issuer, Sep 30, 2026
Closure risk, 12 months
0.2%
low · model
FrenzyCap ETF score
63
how it is built
Cost16
Liquidity82
Scale84
Diversification100

Moves with. Long Treasuries (24% of its variance, beta 0.16); US large-cap stocks (7% of its variance, beta 0.06); Gold (3% of its variance, beta 0.01). These factors explain 37% of its daily moves over the last year.

Stated objective. The First Trust Managed Municipal ETFs (the Fund ) primary investment objective is to generate current income that is exempt from regular federal income taxes and its secondary objective is long term capital appreciation. (from the fund's prospectus)

All 1,252 holdingsFlow historyOverlap toolAll National Muni ETFs

Fund flows
through Jul 2026SEC filings
Jul 2026
+$38M
latest reported month
Latest 3 months
+$69M
+3.4% of assets
Latest 12 months
+$161M
+7.9% of assets
Aug 2025: −$9.9MSep 2025: +$2.5MSepOct 2025: +$2.6MNov 2025: +$23MNovDec 2025: +$18MJan 2026: −$21M−$21MJanFeb 2026: +$16MMar 2026: +$36MMarApr 2026: +$25MMay 2026: +$20MMayJun 2026: +$10MJul 2026: +$38M+$38MJul
View as a table
Net flows of FMB by month, Aug 2025 to Jul 2026
MonthNet flow
Jul 2026+$38M
Jun 2026+$10M
May 2026+$20M
Apr 2026+$25M
Mar 2026+$36M
Feb 2026+$16M
Jan 2026−$21M
Dec 2025+$18M
Nov 2025+$23M
Oct 2025+$2.6M
Sep 2025+$2.5M
Aug 2025−$9.9M

Net creations and redemptions from the fund's SEC filings, which become public about 60 days after each quarter. Every month since 84 months ago

Similar funds
FundOverlapFeeAssets1Y
MUBiShares National Muni Bond ETF—0.05%$51.7B−4.7%compare
VTEBVanguard Tax-Exempt Bond Index Fund—0.03%$50.4B−5.0%compare
JMUBJPMorgan Municipal ETF—0.18%$8.7B−4.9%compare
CGMUCapital Group Municipal Income ETF—0.27%$7.2B−4.0%compare
PZAInvesco National AMT-Free Municipal Bond ETF—0.28%$4.1B−8.0%compare

The largest other funds in the National Muni category.

Under the hood
fiscal year to Oct 31, 2025SEC census
Authorized participants
5 active
of 23 with agreements; top 3 did 87%
Created · redeemed
$139M · $247M
over the fiscal year
Redemptions in kind
0%
creations 0% in kind
Creation unit
50,000
shares
Securities lending
authorized, none lent

From the fund's annual census filing with the SEC. In-kind redemptions are what let an ETF shed appreciated securities without realising gains.

ETF Profile
holdings as of 2026-10-20
Holdings
1251
AUM
$1.9B
Provider
First Trust
Inception
2014-05-13
Exchange
XNAS
Data As Of
2026-10-20
Expense Ratio
0.39%
Dividend Yield
3.83%
Distribution
Monthly
Recent distributions
Ex-Date Pay Date Amount Type
2026-10-21 2026-10-30 $0.1590 CD
2026-09-24 2026-09-30 $0.1590 CD
2026-08-21 2026-08-31 $0.1580 CD
2026-07-21 2026-07-31 $0.1570 CD
2026-06-25 2026-06-30 $0.1570 CD
2026-05-21 2026-05-29 $0.1560 CD
Asset Allocation
Top Holdings
top 50 of 1251 holdings
Symbol Name Weight % Asset Class Country
— MEADE CNTY KY INDL BLDG REVENUE Variable rate, due 08/01/2061 0.85% Municipal Bond —
— MAIN STREET NATURAL GAS INC GA Variable rate, due 09/01/2052 0.75% Municipal Bond —
— NEW YORK CITY NY TRANSITIONAL FIN AUTH REV 4%, due 11/01/2037 0.50% Municipal Bond —
— PEFA INC IA GAS PROJ REVENUE 5%, due 04/01/2035 0.50% Municipal Bond US
— ENERGY S E AL A COOPERATIVE DIST Variable rate, due 11/01/2053 0.47% Municipal Bond US
— TEXAS ST MUNI GAS ACQUISITION & SPLY CORP IV Variable rate, due 01/01/2054 0.46% Municipal Bond —
— ATLANTA GA ARPT PASSENGER FAC CHG REV 4%, due 07/01/2037 0.44% Municipal Bond US
— PUERTO RICO SALES TAX FING CORP 4.50%, due 07/01/2034 0.43% Municipal Bond —
— SOUTHEAST ENERGY AUTH AL COMMODITY SPLY Variable rate, due 11/01/2051 0.43% Municipal Bond —
— NEW YORK ST DORM AUTH SALES TAX 5%, due 03/15/2038 0.42% Municipal Bond —
— COLORADO ST HLTH FACS AUTH REV 4%, due 01/01/2040 0.39% Municipal Bond —
— COLORADO ST HLTH FACS AUTH REV 5%, due 08/01/2044 0.39% Municipal Bond US
— SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN 5%, due 05/01/2039 0.36% Municipal Bond —
— SAN ANTONIO TX WTR REVENUE Variable rate, due 05/01/2054 0.34% Municipal Bond US
— TARRANT CNTY TX CULTURAL EDU FACS FIN CORP 5.25%, due 12/01/2049 0.34% Municipal Bond —
— KENTUCKY ST PUBLIC ENERGY AUTH Variable rate, due 02/01/2050 0.33% Municipal Bond —
— LOS ANGELES CA DEPT ARPTS 5.25%, due 05/15/2044 0.32% Municipal Bond —
— NEW YORK NY 5%, due 03/01/2042 0.32% Municipal Bond —
— PENNSYLVANIA ST ECON DEV FING AUTH 5.25%, due 06/30/2036 0.32% Municipal Bond —
— S E ALABAMA ST GAS SPLY DIST GAS SPLY REV Variable rate, due 08/01/2054 0.32% Municipal Bond —
— UNIV OF TEXAS TX UNIV REVENUES 5%, due 08/15/2043 0.32% Municipal Bond —
— NEW YORK NY 5.25%, due 10/01/2039 0.31% Municipal Bond —
— WALKER CNTY AL ECON & INDL DEV AUTH Variable rate, due 08/01/2063 0.31% Municipal Bond —
— E BATON ROUGE PARISH LA SWR COMMN REV 4%, due 02/01/2045 0.30% Municipal Bond —
— N TX TOLLWAY AUTH REVENUE 4%, due 01/02/2038 0.30% Municipal Bond —
— BLACK BELT ENERGY GAS DIST AL 5.25%, due 06/01/2036 0.29% Municipal Bond —
— CONNECTICUT ST 4%, due 01/15/2038 0.29% Municipal Bond —
— ENERGY S E AL A COOPERATIVE DIST 5%, due 11/01/2035 0.29% Municipal Bond —
— LOWER COLORADO RIVER TX AUTH 5%, due 05/15/2045 0.29% Municipal Bond —
— MONROE CNTY GA DEV AUTH POLL CTRL REV Variable rate, due 04/01/2032 0.29% Municipal Bond —
— BLACK BELT ENERGY GAS DIST AL Variable rate, due 02/01/2053 0.28% Municipal Bond —
— ISLE OF WIGHT CNTY VA ECON DEV 5.25%, due 07/01/2043 0.28% Municipal Bond —
— NEW YORK NY 4%, due 08/01/2040 0.27% Municipal Bond —
— SOUTHEAST ENERGY AUTHORITY A COOP DIST AL 5%, due 09/01/2035 0.27% Municipal Bond US
— TEXAS ST PRIV ACTIVITY BOND 5%, due 12/31/2034 0.27% Municipal Bond —
— WASHINGTON ST 5%, due 08/01/2041 0.27% Municipal Bond —
— CENTRL VLY CA ENERGY AUTH COMMODITY SPLY REV Variable rate, due 12/01/2055 0.26% Municipal Bond —
— DENVER CITY & CNTY CO ARPT REV 5%, due 12/01/2032 0.26% Municipal Bond —
— DENVER CITY & CNTY CO ARPT REV 5%, due 12/01/2034 0.26% Municipal Bond —
— LOS ANGELES CA DEPT ARPTS 5.25%, due 05/15/2046 0.26% Municipal Bond —
— PORT OF SEATTLE WA REVENUE 5%, due 08/01/2039 0.26% Municipal Bond —
— TRI-CNTY OR MET TRANSPRTN DIST 5%, due 10/01/2032 0.26% Municipal Bond —
— ENERGY S E AL A COOPERATIVE DIST Variable rate, due 04/01/2054 0.25% Municipal Bond —
— MET NASHVILLE TN ARPT AUTH ARPT REV 5%, due 07/01/2041 0.25% Municipal Bond —
— MONTGOMERY CNTY PA INDL DEV AUTH Variable rate, due 10/01/2053 0.25% Municipal Bond US
— PUERTO RICO CMWLTH 4%, due 07/01/2033 0.25% Municipal Bond —
— E ALLEN IN MULTI-SCH BLDG CORP 5%, due 07/15/2043 0.24% Municipal Bond —
— ILLINOIS ST 5%, due 11/01/2029 0.24% Municipal Bond US
— IPS MULTI-SCH BLDG CORP IN 5%, due 07/15/2041 0.24% Municipal Bond —
— NEW YORK ST HSG FIN AGY AFFORDABLE HSG REV Variable rate, due 05/01/2042 0.24% Municipal Bond —
Non-Equity Breakdown
First Trust Managed Municipal ETF · NPORT-P period 2026-07-31 (filed 2026-09-24)
Net assets: $2.05B · 1276 total positions · equity 0.00% · non-equity 99.49%
Non-equity holdings — 1276 positions, 99.49% of NAV
Category Weight Value Positions
Municipal 99.49% $2.04B 1276
Chart
Seasonality
'21'22'23'24'25'26Avg
Jan0.58%-2.71%2.30%-0.12%-0.12%0.45%0.06%
Feb-1.77%-1.06%-2.33%-0.46%0.74%1.01%-0.65%
Mar0.55%-3.42%1.43%-0.33%-1.98%-2.31%-1.01%
Apr0.71%-3.24%-0.23%-0.96%-1.44%0.55%-0.77%
May0.55%0.62%-0.49%-0.53%-0.34%0.06%-0.02%
Jun0.25%-2.07%0.48%0.67%0.63%0.38%0.06%
Jul0.65%1.77%-0.04%0.88%-0.81%-2.12%0.05%
Aug-0.57%-2.35%-1.13%-0.04%-0.02%-0.70%-0.80%
Sep-0.96%-3.31%-2.35%0.52%2.10%-3.82%-1.30%
Oct-0.42%-1.43%-1.29%-1.80%0.98%0.81%*-0.53%
Nov0.78%3.94%4.43%1.33%0.16%--2.13%
Dec0.02%-0.73%1.76%-1.73%0.03%---0.13%
Total0.33%-13.38%2.35%-2.59%-0.14%-5.66%-3.18%
Technical Indicators

Quick-reference for reading the values below. Indicators combine to confirm a view — no single one is a trade signal on its own.

Trend Indicators
  • SMA 20 / 50 / 200 — price above = uptrend, below = downtrend. SMA 50 crossing SMA 200 is the golden/death cross.
  • EMA 12 / 26 — faster-reacting averages; 12 above 26 is short-term bullish.
  • MACD — bullish when MACD > signal (green badge), bearish when below. Divergence from price often precedes reversals.
  • ADX (14) — trend strength regardless of direction. <20 range, 20–25 weak trend, 25–50 trend, >50 strong trend.
  • +DI / −DI — +DI > −DI favors bulls; the reverse favors bears. Read alongside ADX.
Momentum Oscillators
  • RSI (14) — <30 oversold, >70 overbought. 40–60 is neutral; trending names can stay extreme.
  • Stochastic %K / %D — <20 oversold, >80 overbought. %K crossing %D is an early momentum signal.
  • Williams %R — inverted scale: <−80 oversold, >−20 overbought.

Oscillators work best in range-bound markets; in strong trends they give premature reversal signals.

Volume & Volatility
  • Bollinger Bands — price at upper band = overbought, lower = oversold. Narrow bands (squeeze) often precede expansion.
  • OBV — cumulative volume; rising OBV confirms uptrend, falling OBV confirms downtrend. Divergence from price is a warning.
  • Vol SMA 20 / Vol ROC — today's volume vs. 20-day average. Positive ROC with price move = conviction.
  • ATR / True Range — average daily $ move; sizing and stop-loss reference.
  • HV 20 / 30 / 60 — realized (historical) volatility. Compare to IV on the options cards: IV > HV = rich premium.

Confluence matters: trend + momentum + volume agreeing carries far more weight than any single indicator. For how these feed the spread scanner score, see the algorithm docs →

Trend Indicators

SMA 20: $48.15
SMA 50: $49.11
SMA 200: $50.66
Current: $48.54
EMA 12: $48.41
EMA 26: $48.53
MACD: -0.1183 | Signal: 0.1407
BEARISH
ADX (14): 33.44
TREND
+DI: 27.46
−DI: 25.74

Momentum Oscillators

RSI (14): 49.70
NEUTRAL
Stoch %K: 87.01
Stoch %D: 91.04
Williams %R: -19.82

Volume & Volatility

BB Upper: $48.84
BB Lower: $47.47
NEUTRAL
OBV: 3,996,501
Vol SMA 20: 662,413
Vol ROC: 15.32%
ATR: $0.29
True Range: $0.26
HV 20: 7.6%
HV 30: 6.7%
HV 60: 5.2%

Data Summary

Data Points: 500
Last Updated:
Date Range: 2024-10-23T00:00:00 – 2026-10-21T00:00:00
AI Analysis

Click Frenzy-Pro™ for an AI analysis of this ticker.

Analysis includes technical indicators, news sentiment, risk assessment, and specific price levels to watch.

News
All FMB news →

FMB Options Activity & IV Rank

Loading options activity...
Spread Scanner GPU
Full Algorithm Docs ↗

Each spread is ranked by a composite score built in three stages. Full documentation →

Stage 1 — Base Score (GPU scanner)

score = P(profit) × (credit / spread_width)
P(profit) from short leg delta (1 − |delta|), penalised above 85%. Credit uses mid-price to handle illiquid chains fairly.

Stage 2 — Skew Adjustment (±25% cap)

RR and BF (30-delta) from the persisted per-symbol skew snapshot — wing strikes picked by real greeks.delta, not a moneyness proxy. Put skew boosts bull puts, penalises bear calls. High butterfly boosts iron condors. Calendars are skew-neutral.

Stage 3 — Technical Overlay (±50% cap, 5 groups)
Group 1 · Directional Bias (±0.25)
  • RSI <40 bullish / >60 bearish
  • MACD crossover + histogram trend
  • Price vs SMA 50 & SMA 200
Group 2 · Momentum (±0.10)
  • Stochastic %K <20 / >80
  • Williams %R <−80 / >−20
Group 3 · Volatility (up to −0.25 / +0.15)
  • Blended ATR + straddle expected-move penalty
  • Bollinger Band signal (+ counter-trend penalty)
  • BB width — vol contraction boost for ICs
Group 4 · IV Regime (±0.15)
  • IV rank ≥ 75 → strong boost for credit spreads
  • IV rank < 25 → penalty (selling cheap vol)
Group 5 · Liquidity (penalty up to −0.10)
  • Min open interest across all legs
  • OI < 100 → −0.10 · OI < 500 → −0.05

score = base_score × skew_multiplier × tech_multiplier
Both multipliers are shown per spread. Beta is informational only — ATR already captures realized vol. Full algorithm documentation →

Enter a ticker to scan for optimal spread opportunities.

Evaluates all bull put, bear call, iron condor, and calendar spread combinations using GPU-accelerated analysis.

Skew (Wing IV − ATM IV)
DTE:
Wing Δ:
Metric:
Wing vs ATM
IV(put wing) − IV(ATM), in vol points

How much the OTM put trades above (or below) the at-the-money strike. Measures the height of the put-side tail relative to ATM — i.e. how expensive crash insurance is on this name.

  • Positive (typical) — wing IV > ATM IV. Standard equity put skew: portfolios bid up crash protection, so OTM puts trade richer than ATM.
  • Near zero or negative (unusual) — wing IV ≤ ATM IV. Flat or inverted put side. Common when there's no fear demand, in tightly mean-reverting names, or right after an earnings catalyst clears.
  • Percentile vs own 3-yr history: high = wings rich (good time to sell wing premium); low = wings cheap (good time to buy protection).
  • Not directional — high or low wings don't predict up or down moves. It's a price tag on tail insurance, not a forecast.
Risk Reversal
IV(call wing) − IV(put wing), equal delta on each side

Which side of the smile is the market paying up for? Measures the tilt of the surface — call skew vs put skew at matched deltas.

  • Negative (typical) — puts richer than calls. Standard equity behavior: hedging demand makes puts carry a premium. Most large-caps sit in the −1 to −5 vol-point range.
  • Strongly negative (< −5 pts) — heavy downside hedging, elevated fear, or an upcoming catalyst (earnings, FDA, macro event). Worth flagging.
  • Positive — calls richer than puts. Unusual for equities; signals bullish momentum, short-squeeze positioning, or takeover/M&A speculation.
  • Near zero — symmetric surface. Market sees roughly equal up/down risk. Rare for large-caps; more common in commodities and FX.
Reading them together

Wing-vs-ATM tells you how expensive the tails are. Risk Reversal tells you which side is favored. Combined:

  • High wing percentile + deeply negative RR → strong put bid; stress or major event priced in. Owning protection costs a premium; selling put premium is dangerous.
  • Low wing percentile + near-zero RR → complacency; insurance cheap and balanced. Good environment to add cheap downside hedges.
  • Positive RR + elevated wings → call-side fear-of-missing-out; common in squeeze setups. Upside calls expensive, downside puts not bid.
14 DTE / 10d —
— pts EXTREME
ATM — / Wing —
30 DTE / 10d —
— pts EXTREME
ATM — / Wing —

Percentile is the rank of today's reading within ~3 years of this symbol's own history. High percentile = wings are rich relative to history; not a directional signal. Skew is read off the chain in real time, not from CBOE SKEW.

Volatility Surface

Enter a ticker to render the implied volatility surface.

Volatility Smile

Enter a ticker to render the implied volatility smile.

IV Rank (7 DTE)
IV Rank (30 DTE)
Straddle Price (30 DTE)
Beta Analysis

Risk Metrics

Beta: 0.0887
Alpha: -6.54%
Correlation: 0.3133
R-Squared: 9.8%
Stock Volatility: 3.6%
Market Volatility: 12.7%

Analysis Details

Benchmark: SPY
Data Points: 251
Period: 252 trading days
Interpretation:
Low volatility - stock moves less than market
Beta & Alpha Over Time

FMB Institutional Ownership (13F)

Latest filings — 2026-09-30

Institutional managers with $100M+ AUM file Form 13F-HR quarterly, due 45 days after quarter end. Holdings are reported gross at quarter-end market value — they are a snapshot, not a real-time position.

  • Shares — long equity positions in this name, aggregated across share classes.
  • Calls / Puts — notional value of long call / put exposure where this ticker is the underlying.
  • % of Float — holder's reported shares divided by the latest diluted shares outstanding. Sums above 100% indicate large custodian / prime broker positions where the same shares are reported by multiple filers.
  • Custodian badge — filers with more than 5,000 holdings are typically broker-dealers / custodians reporting customer-held shares, not active managers.

Each filer is counted once at its latest 13F-HR filing. New filings are ingested on a weekly cadence.

322 filers31,169,978 shares$1.60B value
# Filer Shares Value % of Total % of Float Period
1 Morgan Stanley Custodian 3,496,125 $179.59M 11.25% — 2026-06-30
2 LPL Financial LLC Custodian 2,423,152 $124.47M 7.80% — 2026-06-30
3 Wells Fargo & Company Custodian 2,127,424 $109.28M 6.85% — 2026-06-30
4 Bank of America Corp Custodian 2,078,113 $106.75M 6.69% — 2026-06-30
5 UBS Group AG Custodian 1,891,649 $97.17M 6.09% — 2026-06-30
6 Raymond James Financial, Inc. Custodian 1,256,709 $64.55M 4.04% — 2026-06-30
7 OSAIC HOLDINGS, INC. Custodian 911,907 $46.84M 2.93% — 2026-06-30
8 Avantax Planning Partners, Inc. 837,252 $43.01M 2.69% — 2026-06-30
9 OneDigital Investment Advisors LLC 782,447 $40.19M 2.52% — 2026-06-30
10 Janney Montgomery Scott LLC 519,985 $26.71M 1.67% — 2026-06-30
11 NewEdge Advisors, LLC 497,684 $25.56M 1.60% — 2026-06-30
12 Royal Bank of Canada Custodian 443,110 $22.76M 1.43% — 2026-06-30
13 TRUIST FINANCIAL CORP Custodian 428,848 $22.03M 1.38% — 2026-06-30
14 Cetera Investment Advisers Custodian 396,678 $20.38M 1.28% — 2026-06-30
15 RMR Wealth Builders 351,741 $18.07M 1.13% — 2026-06-30
16 COMMONWEALTH EQUITY SERVICES, LLC 349,602 $17.96M 1.12% — 2026-06-30
17 Envestnet Asset Management, Inc. 345,208 $17.73M 1.11% — 2026-06-30
18 Cambridge Investment Research Advisors, Inc. 331,431 $17.02M 1.07% — 2026-06-30
19 Rockefeller Capital Management L.P. Custodian 323,763 $16.63M 1.04% — 2026-06-30
20 Stifel Financial Corp Custodian 298,518 $15.33M 0.96% — 2026-06-30
21 Jones Financial Companies LLLP Custodian 273,980 $14.06M 0.88% — 2026-06-30
22 Composition Wealth, LLC 251,295 $12.91M 0.81% — 2026-06-30
23 Wealthspire Advisors, LLC 245,248 $12.60M 0.79% — 2026-06-30
24 True Blue Financial, LLC 259,546 $12.42M 0.78% — 2026-09-30
25 GM Advisory Group, LLC 240,580 $12.19M 0.76% — 2026-03-31
# Filer Notional Value % of Total Period
# Filer Notional Value % of Total Period
Constituent Performance

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Constituents
Symbol Name Weight % Price 1 Day 1 Week 1 Month