First Trust New York High Income Municipal ETF (FMNY)

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First Trust New York High Income Municipal ETF (FMNY) is up 2.1% since the beginning of the year. FMNY is currently trading at $27 per share. Investors who bought $1,000 worth of FMNY shares 5 years ago would now be looking at an investment worth $1,032.

First Trust New York High Income Municipal ETF (FMNY) has returned 2.09% so far this year and 7.10% over the past 12 months.

Based on dividend-adjusted daily data since May 13, 2021, FMNY's average daily return is 0.00%, while the average monthly return is +0.08%. At this rate, an investment would double in approximately 72.2 years.

Historically, 56% of months were positive and 44% were negative. The best month was Nov 2023 with a return of +6.2%, while the worst month was Apr 2022 at -3.7%. The longest winning streak lasted 4 consecutive months, and the longest losing streak was 4 months.

On a daily basis, FMNY closed higher 51% of trading days. The best single day was Nov 10, 2022 with a return of +1.2%, while the worst single day was Apr 7, 2025 at -1.7%.

First Trust New York High Income Municipal ETF has an annualized alpha of 0.37%, beta of 0.04, and R2 of 0.02 versus S&P 500 Index. Calculated based on daily prices since May 13, 2021.

• This ETF participated in 37.40% of S&P 500 Index downside but only 18.03% of its upside - more exposed to losses than it benefited from rallies.
• Beta of 0.04 may look defensive, but with R2 of 0.02 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 0.02 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.

FMNY has an expense ratio of 0.65%, placing it in the medium range.

FMNY ranks 65 for risk / return — better than 65% of ETFs on our site. You're getting solid returns for the risk taken. A good sign, especially for investors who want growth without excessive volatility.

First Trust New York High Income Municipal ETF provided a 3.68% dividend yield over the last twelve months, with an annual payout of $0.99 per share. The fund has been increasing its distributions for 4 consecutive years.

The table displays the monthly dividend distributions for First Trust New York High Income Municipal 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 New York High Income Municipal 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 New York High Income Municipal ETF was 15.90%, occurring on Oct 26, 2022. Recovery took 799 trading sessions.

The current First Trust New York High Income Municipal ETF drawdown is 0.50%.

The chart below shows the rolling one-month volatility.