FMB vs. CA
Compare and contrast key facts about First Trust Managed Municipal ETF (FMB) and Xtrackers California Municipal Bond ETF (CA).
FMB and CA are both exchange-traded funds (ETFs), meaning they are traded on stock exchanges and can be bought and sold throughout the day. FMB is an actively managed fund by First Trust. It was launched on May 13, 2014. CA is a passively managed fund by Xtrackers that tracks the performance of the ICE AMT-Free Broad Liquid California Municipal Index - Benchmark TR Gross. It was launched on Dec 13, 2023.
Performance
FMB vs. CA - Performance Comparison
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FMB vs. CA - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | |
|---|---|---|---|---|
FMB First Trust Managed Municipal ETF | -0.03% | 3.73% | 1.94% | 0.56% |
CA Xtrackers California Municipal Bond ETF | -0.08% | 3.05% | 1.51% | 0.79% |
Returns By Period
In the year-to-date period, FMB achieves a -0.03% return, which is significantly higher than CA's -0.08% return.
FMB
- 1D
- 0.16%
- 1M
- -2.26%
- YTD
- -0.03%
- 6M
- 1.70%
- 1Y
- 4.05%
- 3Y*
- 3.14%
- 5Y*
- 0.70%
- 10Y*
- 2.30%
CA
- 1D
- 0.38%
- 1M
- -2.00%
- YTD
- -0.08%
- 6M
- 1.22%
- 1Y
- 3.88%
- 3Y*
- —
- 5Y*
- —
- 10Y*
- —
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FMB vs. CA - Expense Ratio Comparison
FMB has a 0.50% expense ratio, which is higher than CA's 0.07% expense ratio.
Return for Risk
FMB vs. CA — Risk / Return Rank
FMB
CA
FMB vs. CA - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Managed Municipal ETF (FMB) and Xtrackers California Municipal Bond ETF (CA). 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.
| FMB | CA | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | 1.05 | 0.89 | +0.16 |
Sortino ratioReturn per unit of downside risk | 1.33 | 1.17 | +0.17 |
Omega ratioGain probability vs. loss probability | 1.24 | 1.21 | +0.03 |
Calmar ratioReturn relative to maximum drawdown | 1.17 | 1.17 | 0.00 |
Martin ratioReturn relative to average drawdown | 3.23 | 3.35 | -0.12 |
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
| FMB | CA | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 1.05 | 0.89 | +0.16 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.19 | — | — |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | 0.51 | — | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.64 | 0.57 | +0.07 |
Correlation
The correlation between FMB and CA is 0.72, which is considered to be high. That indicates a strong positive relationship between their price movements. Having highly-correlated positions in a portfolio may signal a lack of diversification, potentially leading to increased risk during market downturns.
Dividends
FMB vs. CA - Dividend Comparison
FMB's dividend yield for the trailing twelve months is around 3.48%, more than CA's 3.20% yield.
| TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
FMB First Trust Managed Municipal ETF | 3.48% | 3.37% | 3.22% | 2.98% | 2.47% | 1.96% | 2.19% | 2.47% | 2.58% | 2.49% | 2.93% | 3.07% |
CA Xtrackers California Municipal Bond ETF | 3.20% | 3.14% | 3.03% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% | 0.00% |
Drawdowns
FMB vs. CA - Drawdown Comparison
The maximum FMB drawdown since its inception was -14.16%, which is greater than CA's maximum drawdown of -5.24%. Use the drawdown chart below to compare losses from any high point for FMB and CA.
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Drawdown Indicators
| FMB | CA | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -14.16% | -5.24% | -8.92% |
Max Drawdown (1Y)Largest decline over 1 year | -3.55% | -3.67% | +0.12% |
Max Drawdown (5Y)Largest decline over 5 years | -14.16% | — | — |
Max Drawdown (10Y)Largest decline over 10 years | -14.16% | — | — |
Current DrawdownCurrent decline from peak | -2.26% | -2.00% | -0.26% |
Average DrawdownAverage peak-to-trough decline | -2.63% | -1.30% | -1.33% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 1.29% | 1.28% | +0.01% |
Volatility
FMB vs. CA - Volatility Comparison
First Trust Managed Municipal ETF (FMB) and Xtrackers California Municipal Bond ETF (CA) have volatilities of 1.31% and 1.31%, respectively, indicating that both stocks experience similar levels of price fluctuations. This suggests that the risk associated with both stocks, as measured by volatility, is nearly the same. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FMB | CA | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 1.31% | 1.31% | 0.00% |
Volatility (6M)Calculated over the trailing 6-month period | 1.79% | 1.78% | +0.01% |
Volatility (1Y)Calculated over the trailing 1-year period | 3.87% | 4.40% | -0.53% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 3.69% | 4.09% | -0.40% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 4.55% | 4.09% | +0.46% |