FSMB vs. NFTY
FSMB (First Trust Short Duration Managed Municipal ETF) and NFTY (First Trust India NIFTY 50 Equal Weight ETF) are both exchange-traded funds - FSMB is a Municipal Bonds fund actively managed by First Trust, while NFTY is a Asia Pacific Equities fund tracking the NIFTY 50 Equal Weight Index. FSMB is actively managed, while NFTY is passively managed. Over the past 5 years, FSMB returned 1.51%/yr vs 4.62%/yr for NFTY. At a 0.07 correlation, their price movements are largely independent. FSMB charges 0.45%/yr vs 0.80%/yr for NFTY.
Performance
FSMB vs. NFTY - Performance Comparison
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Returns By Period
In the year-to-date period, FSMB achieves a 1.15% return, which is significantly higher than NFTY's -9.70% return.
FSMB
- 1D
- 0.05%
- 1M
- 0.44%
- YTD
- 1.15%
- 6M
- 1.51%
- 1Y
- 4.18%
- 3Y*
- 3.56%
- 5Y*
- 1.51%
- 10Y*
- —
NFTY
- 1D
- -1.34%
- 1M
- -1.64%
- YTD
- -9.70%
- 6M
- -7.99%
- 1Y
- -8.48%
- 3Y*
- 5.72%
- 5Y*
- 4.62%
- 10Y*
- 8.13%
FSMB vs. NFTY - Yearly Performance Comparison
| 2026 (YTD) | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|---|
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% |
NFTY First Trust India NIFTY 50 Equal Weight ETF | -9.70% | 5.47% | 5.18% | 24.00% | -3.46% | 26.83% | 10.04% | 0.58% | 3.06% |
Correlation
The correlation between FSMB and NFTY is 0.23, which is low. Their price movements are largely independent, making them effective diversification partners.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.23 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.07 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.07 |
Correlation (All Time) Calculated using the full available price history since Nov 28, 2018 | 0.07 |
The correlation between FSMB and NFTY shifts across timeframes, from 0.07 (5 years) to 0.23 (1 year), reflecting how their relationship changes across market environments.
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Return for Risk
FSMB vs. NFTY — Risk / Return Rank
FSMB
NFTY
FSMB vs. NFTY - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for First Trust Short Duration Managed Municipal ETF (FSMB) and First Trust India NIFTY 50 Equal Weight ETF (NFTY). 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.
| FSMB | NFTY | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +3.57 | ||
| Sortino ratioReturn per unit of downside risk | +5.26 | ||
| Omega ratioGain probability vs. loss probability | 1.63 | 0.91 | +0.71 |
| Calmar ratioReturn relative to maximum drawdown | 3.26 | -0.53 | +3.79 |
| Martin ratioReturn relative to average drawdown | 11.17 | -1.39 | +12.56 |
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
| FSMB | NFTY | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | 2.99 | -0.58 | +3.57 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | 0.78 | 0.27 | +0.51 |
Sharpe Ratio (10Y)Calculated over the trailing 10-year period | — | 0.39 | — |
Sharpe Ratio (All Time)Calculated using the full available price history | 0.75 | 0.28 | +0.47 |
Drawdowns
FSMB vs. NFTY - Drawdown Comparison
The maximum FSMB drawdown since its inception was -6.32%, smaller than the maximum NFTY drawdown of -47.67%. Use the drawdown chart below to compare losses from any high point for FSMB and NFTY.
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Drawdown Indicators
| FSMB | NFTY | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.32% | -47.67% | +41.35% |
Max Drawdown (1Y)Largest decline over 1 year | -1.29% | -16.14% | +14.85% |
Max Drawdown (3Y)Largest decline over 3 years | -1.76% | -21.55% | +19.79% |
Max Drawdown (5Y)Largest decline over 5 years | -5.97% | -21.55% | +15.58% |
Max Drawdown (10Y)Largest decline over 10 years | — | -47.67% | — |
Current DrawdownCurrent decline from peak | -0.25% | -17.45% | +17.20% |
Average DrawdownAverage peak-to-trough decline | -1.16% | -9.58% | +8.42% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.37% | 6.12% | -5.75% |
Volatility
FSMB vs. NFTY - Volatility Comparison
The current volatility for First Trust Short Duration Managed Municipal ETF (FSMB) is 0.42%, while First Trust India NIFTY 50 Equal Weight ETF (NFTY) has a volatility of 4.58%. This indicates that FSMB experiences smaller price fluctuations and is considered to be less risky than NFTY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| FSMB | NFTY | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.42% | 4.58% | -4.16% |
Volatility (6M)Calculated over the trailing 6-month period | 1.02% | 12.57% | -11.55% |
Volatility (1Y)Calculated over the trailing 1-year period | 1.40% | 14.72% | -13.32% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.96% | 17.39% | -15.43% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 2.92% | 20.72% | -17.80% |
FSMB vs. NFTY - Expense Ratio Comparison
FSMB has a 0.45% expense ratio, which is lower than NFTY's 0.80% expense ratio.
Dividends
FSMB vs. NFTY - Dividend Comparison
FSMB's dividend yield for the trailing twelve months is around 3.14%, more than NFTY's 1.96% yield.
| Position | TTM | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
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% |
NFTY First Trust India NIFTY 50 Equal Weight ETF | 1.96% | 1.24% | 1.61% | 0.13% | 5.89% | 1.53% | 0.61% | 0.97% | 0.00% | 4.10% | 3.28% | 4.39% |
Frequently Asked Questions
FSMB and NFTY have a correlation of 0.23, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
NFTY has higher volatility (4.58%) compared to FSMB (0.42%). In terms of maximum drawdown, FSMB dropped -6.32% vs NFTY's -47.67%.
On 5-year performance, NFTY leads with 4.62% vs 1.51% for FSMB. On fees, FSMB is cheaper at 0.45% per year. On volatility, FSMB has been the lower-risk option at 0.42%. The better choice depends on whether you care most about return, fees, risk, or income.
Over the 5-year period, NFTY has performed better with a 4.62% return vs 1.51%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.
FSMB is cheaper with a 0.45% expense ratio, compared with 0.80% for NFTY.
FSMB has the higher dividend yield at 3.14%, compared with 1.96% for NFTY.
FSMB is categorized as Municipal Bonds, while NFTY is Asia Pacific Equities. Their fees differ too: 0.45% for FSMB and 0.80% for NFTY.
FSMB currently has the higher Sharpe Ratio (2.99 vs -0.58), 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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