FLTR vs. FSMB
FLTR (VanEck Vectors Investment Grade Floating Rate ETF) and FSMB (First Trust Short Duration Managed Municipal ETF) are both exchange-traded funds - FLTR is a Corporate Bonds fund tracking the MVIS US Investment Grade Floating Rate Index, while FSMB is a Municipal Bonds fund actively managed by First Trust. FLTR is passively managed, while FSMB is actively managed. Over the past 5 years, FLTR returned 4.49%/yr vs 1.51%/yr for FSMB. At a 0.03 correlation, their price movements are largely independent. FLTR charges 0.14%/yr vs 0.45%/yr for FSMB.
Performance
FLTR vs. FSMB - Performance Comparison
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Returns By Period
In the year-to-date period, FLTR achieves a 1.91% return, which is significantly higher than FSMB's 1.15% return.
FLTR
- 1D
- -0.04%
- 1M
- 0.46%
- YTD
- 1.91%
- 6M
- 2.40%
- 1Y
- 5.30%
- 3Y*
- 6.10%
- 5Y*
- 4.49%
- 10Y*
- 3.51%
FSMB
- 1D
- 0.05%
- 1M
- 0.44%
- YTD
- 1.15%
- 6M
- 1.51%
- 1Y
- 4.18%
- 3Y*
- 3.56%
- 5Y*
- 1.51%
- 10Y*
- —
FLTR vs. FSMB - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
FLTR VanEck Vectors Investment Grade Floating Rate ETF | 1.91% | 5.22% | 7.38% | 7.41% | 0.74% | 0.55% | 1.44% | 5.70% | -0.95% |
FSMB First Trust Short Duration Managed Municipal ETF | 1.15% | 4.22% | 2.35% | 3.54% | -3.75% | 1.20% | 3.53% | 3.80% | 0.61% |
Correlation
The correlation between FLTR and FSMB is -0.11, meaning they tend to move in opposite directions. This is especially valuable for risk management - when one declines, the other has historically tended to hold steady or rise.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | -0.11 |
Correlation (3Y) Calculated over the trailing 3-year period | -0.03 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.03 |
Correlation (All Time) Calculated using the full available price history since Nov 28, 2018 | 0.03 |
The correlation between FLTR and FSMB shifts across timeframes, from -0.11 (1 year) to 0.03 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
FLTR vs. FSMB — Risk / Return Rank
FLTR
FSMB
FLTR vs. FSMB - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for VanEck Vectors Investment Grade Floating Rate ETF (FLTR) and First Trust Short Duration Managed Municipal ETF (FSMB). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| FLTR | FSMB | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.78 | ||
| Sortino ratioReturn per unit of downside risk | +8.30 | ||
| Omega ratioGain probability vs. loss probability | 3.15 | 1.63 | +1.52 |
| Calmar ratioReturn relative to maximum drawdown | 16.96 | 3.26 | +13.70 |
| Martin ratioReturn relative to average drawdown | 101.23 | 11.17 | +90.05 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| FLTR | FSMB | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 6.77 | 2.99 | +3.78 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 2.11 | 0.78 | +1.34 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.70 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.53 | 0.75 | -0.22 |
Drawdowns
FLTR vs. FSMB - Drawdown Comparison
The maximum FLTR drawdown since its inception was -17.84%, which is greater than FSMB's maximum drawdown of -6.32%. Use the drawdown chart below to compare losses from any high point for FLTR and FSMB.
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Drawdown Indicators
| FLTR | FSMB | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -17.84% | -6.32% | -11.52% |
Max Drawdown (1Y)Largest decline over 1 year | -0.31% | -1.29% | +0.98% |
Max Drawdown (3Y)Largest decline over 3 years | -1.93% | -1.76% | -0.17% |
Max Drawdown (5Y)Largest decline over 5 years | -3.06% | -5.97% | +2.91% |
Max Drawdown (10Y)Largest decline over 10 years | -17.84% | — | — |
Current DrawdownCurrent decline from peak | -0.04% | -0.25% | +0.21% |
Average DrawdownAverage peak-to-trough decline | -0.67% | -1.16% | +0.49% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.05% | 0.37% | -0.32% |
Volatility
FLTR vs. FSMB - Volatility Comparison
The current volatility for VanEck Vectors Investment Grade Floating Rate ETF (FLTR) is 0.25%, while First Trust Short Duration Managed Municipal ETF (FSMB) has a volatility of 0.42%. This indicates that FLTR experiences smaller price fluctuations and is considered to be less risky than FSMB based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FLTR | FSMB | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.25% | 0.42% | -0.17% |
Volatility (6M)Calculated over the trailing 6-month period | 0.62% | 1.02% | -0.40% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.79% | 1.40% | -0.61% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 2.13% | 1.96% | +0.17% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 5.00% | 2.92% | +2.08% |
FLTR vs. FSMB - Expense Ratio Comparison
FLTR has a 0.14% expense ratio, which is lower than FSMB's 0.45% expense ratio.
Dividends
FLTR vs. FSMB - Dividend Comparison
FLTR's dividend yield for the trailing twelve months is around 4.73%, more than FSMB's 3.14% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FLTR VanEck Vectors Investment Grade Floating Rate ETF | 4.73% | 4.97% | 5.93% | 6.07% | 2.29% | 0.63% | 1.49% | 3.05% | 2.67% | 1.69% | 1.16% | 0.71% |
FSMB First Trust Short Duration Managed Municipal ETF | 3.14% | 3.09% | 2.88% | 2.40% | 1.47% | 1.20% | 1.79% | 2.27% | 0.19% | 0.00% | 0.00% | 0.00% |
Frequently Asked Questions
FLTR and FSMB have a correlation of -0.11, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
FSMB has higher volatility (0.42%) compared to FLTR (0.25%). In terms of maximum drawdown, FLTR dropped -17.84% vs FSMB's -6.32%.
On 5-year performance, FLTR leads with 4.49% vs 1.51% for FSMB. On fees, FLTR is cheaper at 0.14% per year. On volatility, FLTR has been the lower-risk option at 0.25%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, FLTR has performed better with a 4.49% return vs 1.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FLTR is cheaper with a 0.14% expense ratio, compared with 0.45% for FSMB.
FLTR has the higher dividend yield at 4.73%, compared with 3.14% for FSMB.
FLTR is categorized as Corporate Bonds, while FSMB is Municipal Bonds. They also come from different issuers: VanEck and First Trust. Their fees differ too: 0.14% for FLTR and 0.45% for FSMB.
FLTR currently has the higher Sharpe Ratio (6.77 vs 2.99), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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