First Trust Municipal High Income ETF (FMHI)

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First Trust Municipal High Income ETF (FMHI) is up 3.0% since the beginning of the year. FMHI is currently trading at $48 per share. Investors who bought $1,000 worth of FMHI shares 5 years ago would now be looking at an investment worth $1,043.

First Trust Municipal High Income ETF (FMHI) has returned 2.97% so far this year and 8.19% over the past 12 months.

Based on dividend-adjusted daily data since Nov 3, 2017, FMHI's average daily return is +0.01%, while the average monthly return is +0.29%. At this rate, an investment would double in approximately 19.9 years.

Historically, 67% of months were positive and 33% were negative. The best month was Nov 2023 with a return of +5.6%, while the worst month was Mar 2020 at -10.4%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 4 months.

On a daily basis, FMHI closed higher 54% of trading days. The best single day was Mar 25, 2020 with a return of +3.5%, while the worst single day was Mar 20, 2020 at -5.8%.

First Trust Municipal High Income ETF has an annualized alpha of 2.26%, beta of 0.08, and R2 of 0.07 versus S&P 500 Index. Calculated based on daily prices since November 03, 2017.

• This ETF participated in 27.39% of S&P 500 Index downside but only 20.18% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.08 may look defensive, but with R2 of 0.07 this ETF is largely uncorrelated with S&P 500 Index - low beta reflects independence, not downside protection. See the Volatility section for a true picture of this ETF's risk.
• R2 of 0.07 means this ETF moves largely independently of S&P 500 Index - capture ratios reflect limited market correlation rather than active downside protection. Consider using a more representative benchmark.

FMHI has an expense ratio of 0.55%, placing it in the medium range.

FMHI ranks 83 for risk / return — in the top 83% of ETFs on our site. This means strong returns relative to risk — exactly what professional investors look for. Well-suited for investors who want to maximize return per unit of risk.

First Trust Municipal High Income ETF provided a 4.23% dividend yield over the last twelve months, with an annual payout of $2.05 per share. The fund has been increasing its distributions for 4 consecutive years.

The table displays the monthly dividend distributions for First Trust Municipal High Income ETF. The dividends shown in the table have been adjusted to account for any splits that may have occurred.

The Drawdowns chart displays portfolio losses from any high point along the way. Drawdowns are calculated considering price movements and all distributions paid, if any.

The table below displays the maximum drawdowns of the First Trust Municipal High Income ETF. A maximum drawdown is a measure of risk, indicating the largest reduction in portfolio value due to a series of losing trades.

The maximum drawdown for the First Trust Municipal High Income ETF was 18.83%, occurring on Oct 27, 2022. Recovery took 800 trading sessions.

The current First Trust Municipal High Income ETF drawdown is 0.01%.

The chart below shows the rolling one-month volatility.