Morningstar

First Trust Managed Municipal ETF FMB ETF Analysis

Morningstar Medalist Rating
| Medalist Rating as of | See First Trust Investment Hub

Morningstar’s Analysis FMB

Will FMB outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable FMB’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the FMB management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of FMB’s parent organization’s priorities and whether they’re in line with investors’ interests.

An active muni ETF with an appetite for credit risk.

Associate Analyst Rafael Ramirez

Rafael Ramirez

Associate Analyst

Summary

First Trust Managed Municipal ETF’s research capabilities are sufficient, but the team’s propensity to take more credit risk than most muni national intermediate Morningstar Category peers hasn’t paid off.

by Rafael Ramirez
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