First Trust Short Duration Managed Municipal ETF (FSMB)

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First Trust Short Duration Managed Municipal ETF (FSMB) is up 1.3% since the beginning of the year. FSMB is currently trading at $20 per share. Investors who bought $1,000 worth of FSMB shares 5 years ago would now be looking at an investment worth $1,078.

First Trust Short Duration Managed Municipal ETF (FSMB) has returned 1.26% so far this year and 3.84% over the past 12 months.

Based on dividend-adjusted daily data since Nov 27, 2018, FSMB's average daily return is +0.01%, while the average monthly return is +0.18%. At this rate, an investment would double in approximately 32.1 years.

Historically, 64% of months were positive and 36% were negative. The best month was Nov 2023 with a return of +2.2%, while the worst month was Mar 2020 at -2.7%. The longest winning streak lasted 10 consecutive months, and the longest losing streak was 5 months.

On a daily basis, FSMB closed higher 49% of trading days. The best single day was Mar 13, 2020 with a return of +2.3%, while the worst single day was Mar 12, 2020 at -3.4%.

First Trust Short Duration Managed Municipal ETF has an annualized alpha of 1.71%, beta of 0.03, and R2 of 0.05 versus S&P 500 Index. Calculated based on daily prices since November 27, 2018.

• This ETF participates in less of S&P 500 Index's moves in both directions, but captures a larger share of gains (8.33%) than losses (7.89%) - typical of diversified or defensive assets.
• Beta of 0.03 may look defensive, but with R2 of 0.05 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 0.05 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.

FSMB has an expense ratio of 0.45%, placing it in the medium range.

FSMB ranks 78 for risk / return — better than 78% 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 Short Duration Managed Municipal ETF provided a 3.14% dividend yield over the last twelve months, with an annual payout of $0.63 per share. The fund has been increasing its distributions for 4 consecutive years.

The table displays the monthly dividend distributions for First Trust Short Duration Managed 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 Short Duration Managed 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 Short Duration Managed Municipal ETF was 6.32%, occurring on Mar 20, 2020. Recovery took 81 trading sessions.

The current First Trust Short Duration Managed Municipal ETF drawdown is 0.15%.

The chart below shows the rolling one-month volatility.