---
ticker: "FECM"
name: "First Eagle Core Municipal ETF"
url: "https://etf.net/etf/FECM"
grade: "D"
score: 29
graded_at: "2026-10-12"
category: "Other Municipal Bond"
category_rank: "61 of 63"
methodology: "https://etf.net/methodology"
---

# FECM: First Eagle Core Municipal ETF

Grade **D**, Score 29 of 100. Rank 61 of 63 in Other Municipal Bond.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 26 | 44 of 63 |
| Mission | Not scored | — |
| Risk | 42 | 44 of 63 |
| Tradability | 9 | 60 of 63 |
| Holdings | 56 | 35 of 63 |
| Durability | 24 | 54 of 63 |

## Top holdings

The fund holds 131 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | New York St Dorm Auth St Pers Income Tax Rev Rev | 2.07% |
| 2 | — | New Jersey St Transn Tr Fd Auth Transn Program Bds | 1.96% |
| 3 | — | Indiana Fin Auth Edl Facs Rev Bds 2026 22/OCT/2026 | 1.94% |
| 4 | — | Illinois Fin Auth Rev Bds 2026 21/JUL/2026 | 1.85% |
| 5 | — | Colorado Intl Ctr Met Dist No 14 Ltd Tax Gen Oblig | 1.80% |
| 6 | — | Eanes Tex Indpt Sch Dist Unltd Tax Bldg Bds 2019 A | 1.72% |
| 7 | — | New York N Y City Transitional Fin Auth Rev Future | 1.70% |
| 8 | — | Kent Cnty Del Rev Rev Bds 2016 30/JUN/2016 | 1.70% |
| 9 | — | New York St Dorm Auth St Pers Income Tax Rev Tax | 1.67% |
| 10 | — | Katy Tex Indpt Sch Dist Ultd Tax Sch Bldg Bds 2017 | 1.67% |
| 11 | — | Florida Gulf Coast Univ Fing Corp Fla Cap Impt Rev | 1.67% |
| 12 | — | District Columbia Multimodal Gen Oblig Bds 2026C | 1.67% |
| 13 | — | Austin Tex Elec Util Sys Rev Rev Ref Bds 2017 | 1.63% |
| 14 | — | New York St Dorm Auth Revs Non St Supported Debt | 1.49% |
| 15 | — | Kalamazoo Mich Pub Schs Go Unltd Tax Sch Bldg Site | 1.48% |
| 16 | — | Rhode Is St Health & Edl Bldg Corp Rev Bds 2026A | 1.47% |
| 17 | — | Wisconsin St Health & Edl Facs Auth Rev Rev Bds | 1.46% |
| 18 | — | Illinois Fin Auth Rev Bds 2016 29/SEP/2016 | 1.41% |
| 19 | — | California Infrastructure & Economic Dev Bk Rev | 1.36% |
| 20 | — | Black Belt Energy Gas Dist Ala Gas Proj Rev Bds | 1.35% |
| 21 | — | Northampton Cnty Pa Gen Purp Auth Hosp Rev Bds | 1.33% |
| 22 | — | Southeast Energy Auth Coop Dist Ala Energy Supply | 1.32% |
| 23 | — | Energy Southeast Ala Coop Dist Energy Supply Rev | 1.30% |
| 24 | — | California Cmnty Choice Fing Auth Clean Energy | 1.24% |
| 25 | — | Oak Lawn Ill Gen Oblig Bds 2026 26/AUG/2026 | 1.23% |
| 26 | — | Maricopa Cnty Ariz Pollution Ctl Corp Pollution | 1.15% |
| 27 | — | Houston Tex Util Sys Rev First Lien Rev and Ref | 1.11% |
| 28 | — | California St Enterprise Dev Auth Rev Bds 2026A | 1.08% |
| 29 | — | JPMorgan Us Govt Mm | 1.04% |
| 30 | — | Pratt Kans Elec Sys Rev Util Bds 2026 27/AUG/2026 | 1.03% |

Source: etf.net, https://etf.net/etf/FECM. Please cite the page URL.