First Trust Municipal High Income ETF(FMHI · ETF)

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

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FMHI
Snapshot
Info

First Trust Municipal High Income ETF (FMHI) ETF

Exchange
XNAS
Inception
2017-11-01
Has Options
No
ETF Profile
holdings as of 2026-07-31
Holdings
692
AUM
$899.9M
Provider
Nport
Inception
2017-11-01
Exchange
XNAS
Data As Of
2026-07-31
Expense Ratio
Dividend Yield
4.33%
Distribution
Monthly
Recent distributions
Ex-Date Pay Date Amount Type
2026-07-21 2026-07-31 $0.1770 CD
2026-06-25 2026-06-30 $0.1770 CD
2026-05-21 2026-05-29 $0.1760 CD
2026-04-21 2026-04-30 $0.1750 CD
2026-03-26 2026-03-31 $0.1750 CD
2026-02-20 2026-02-27 $0.1750 CD
Asset Allocation
Top Holdings
top 50 of 692 holdings
Symbol Name Weight % Asset Class Country
PUERTO RICO SALES TAX FING COR 0.64% Debt US
CHICAGO IL O'HARE INTERNATIONA 0.64% Debt US
MOBILE CNTY AL INDL DEV AUTH S 0.62% Debt US
MOBILE AL INDL DEV BRD POLL CO 0.55% Debt US
PUERTO RICO CMWLTH AQUEDUCT & 0.52% Debt US
DETROIT MI 0.52% Debt US
INDIANA ST MUNI PWR AGY 0.50% Debt US
SAINT LOUIS CNTY MO INDL DEV A 0.47% Debt US
SPRING VLY CMNTY INFRASTRUCTUR 0.45% Debt US
PUERTO RICO CMWLTH 0.45% Debt US
ARKANSAS DEV FIN AUTH ENVIRONM 0.44% Debt US
COLUMBUS OH REGL ARPT AUTH REV 0.44% Debt US
MAIN STREET NATURAL GAS INC GA 0.43% Debt US
CHARLOTTE CNTY FL INDL DEV AUT 0.43% Debt US
NEW YORK ST TRANSPRTN DEV CORP 0.42% Debt US
MARYLAND ST HLTH & HGR EDUCTNL 0.42% Debt US
NEW HAMPSHIRE ST HLTH & EDU FA 0.41% Debt US
PUB FIN AUTH WI TAX INCREMENT 0.41% Debt US
MEADE CNTY KY INDL BLDG REVENU 0.40% Debt US
RED BARN MET DIST CO 0.39% Debt US
BUCKEYE OH TOBACCO SETTLEMENT 0.39% Debt US
VOLUSIA CNTY FL EDUCTNL FAC AU 0.38% Debt US
VIRGINIA SMALL BUSINESS FING A 0.38% Debt US
AEROTROPOLIS REGL TRANPRTN AUT 0.37% Debt US
KANSAS CITY MO INDL DEV AUTH E 0.36% Debt US
NORTH CAROLINA ST MED CARE COM 0.36% Debt US
CLACKAMAS CNTY OR HOSP FAC AUT 0.36% Debt US
SOUTHEAST ENERGY AUTHORITY A C 0.35% Debt US
NORTH CAROLINA ST MED CARE COM 0.35% Debt US
DELAWARE ST HLTH FACS AUTH REV 0.35% Debt US
MARYLAND ST HLTH & HGR EDUCTNL 0.34% Debt US
VIRGINIA ST SMALL BUSINESS FIN 0.34% Debt US
MISSOURI ST HLTH & EDUCTNL FAC 0.34% Debt US
OHIO ST HSG FIN AGY MF HSG REV 0.34% Debt US
KANSAS CITY MO INDL DEV AUTH 0.34% Debt US
UTAH ST CHRT SCH FIN AUTH CHRT 0.34% Debt US
SCHAUMBURG COOK & DUPAGE CNTYS 0.34% Debt US
SALT LAKE CITY UT ARPT REVENUE 0.33% Debt US
PUERTO RICO CMWLTH 0.33% Debt US
CHICAGO IL O'HARE INTERNATIONA 0.33% Debt US
IOWA ST FIN AUTH MIDWSTRN DISA 0.33% Debt US
COLORADO ST HLTH FACS AUTH REV 0.33% Debt US
BURKE CNTY GA DEV AUTH POLL CO 0.33% Debt US
PUERTO RICO CMWLTH 0.32% Debt US
PORT OF GTR CINCINNATI DEV AUT 0.32% Debt US
NORTH CAROLINA ST MED CARE COM 0.32% Debt US
PUBLIC FIN AUTH WI TOLL REVENU 0.31% Debt US
HANOVER CNTY VA ECON DEV AUTHR 0.31% Debt US
SALTLEAF CDD FL CAPITAL IMPT R 0.31% Debt US
BARTOW CNTY GA DEV AUTH SOLID 0.31% Debt US
Non-Equity Breakdown
First Trust Municipal High Income ETF · NPORT-P period 2026-07-31 (filed 2026-03-25)
Net assets: $906M · 692 total positions · equity 0.00% · non-equity 99.38%
Non-equity holdings — 692 positions, 99.38% of NAV
Category Weight Value Positions
Municipal 99.28% $899.1M 690
Mortgage-backed (Municipal) 0.10% $899219 1
Derivative (interest rate) -0.00% $-25000 1
Chart
Seasonality
MonthAvg ReturnYears of Data
Jan +0.37% 6
Feb -0.67% 6
Mar -1.05% 6
Apr -1.22% 6
May +0.07% 6
Jun -0.10% 6
Jul +0.15% 6
Aug -0.98% 5
Sep -1.15% 5
Oct -1.05% 5
Nov +1.99% 5
Dec -0.20% 5
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: $48.31
SMA 50: $48.22
SMA 200: $48.08
Current: $47.49
EMA 12: $48.10
EMA 26: $48.22
MACD: -0.1196 | Signal: -0.0996
BEARISH
ADX (14): 24.11
WEAK TREND
+DI: 9.10
−DI: 47.51
Momentum Oscillators
RSI (14): 19.93
OVERSOLD
Stoch %K: 5.73
Stoch %D: 8.43
Williams %R: -91.06
Volume & Volatility
BB Upper: $48.84
BB Lower: $47.79
OVERSOLD
OBV: 710,310
Vol SMA 20: 111,093
Vol ROC: 229.75%
ATR: $0.18
True Range: $0.46
HV 20: 3.5%
HV 30: 3.5%
HV 60: 3.3%

Data Summary
Data Points: 500
Last Updated:
Date Range: 2024-07-25T00:00:00 – 2026-07-23T00:00:00
AI Analysis

Choose Frenzy-Fast™ for quick analysis or Frenzy-Pro™ for comprehensive analysis.

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

News
Options Activity
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Spread Scanner GPU

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
Beta (1Y vs SPY)
0.08
Correlation (SPY)
27.8%
0.08
Ann. Volatility
3.5%
SPY Volatility
12.7%

Low volatility - stock moves less than market

Beta & Alpha Over Time
Constituent Performance

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