---
ticker: "FMB"
name: "First Trust Managed Municipal ETF"
url: "https://etf.net/etf/FMB"
grade: "B"
score: 67
graded_at: "2026-10-12"
category: "Other Municipal Bond"
category_rank: "20 of 63"
methodology: "https://etf.net/methodology"
---

# FMB: First Trust Managed Municipal ETF

Grade **B**, Score 67 of 100. Rank 20 of 63 in Other Municipal Bond.

Graded Oct 12, 2026.

## Grade pillars

| Pillar | Score | Category rank |
| --- | --- | --- |
| Cost | 26 | 44 of 63 |
| Mission | 100 | 1 of 59 |
| Risk | 55 | 22 of 63 |
| Tradability | 89 | 1 of 63 |
| Holdings | 92 | 3 of 63 |
| Durability | 79 | 8 of 63 |

## Top holdings

The fund holds 1249 positions. These are the largest 30, by weight.

| # | Ticker | Name | Weight |
| --- | --- | --- | --- |
| 1 | — | MEADE CNTY KY INDL BLDG REVENUE Variable rate, due 08/01/2061 | 0.86% |
| 2 | — | MAIN STREET NATURAL GAS INC GA Variable rate, due 09/01/2052 | 0.75% |
| 3 | — | NEW YORK CITY NY MUNI WTR FIN AUTH Variable rate, due 06/15/2041 | 0.57% |
| 4 | — | PEFA INC IA GAS PROJ REVENUE 5%, due 04/01/2035 | 0.50% |
| 5 | — | NEW YORK CITY NY TRANSITIONAL FIN AUTH REV 4%, due 11/01/2037 | 0.50% |
| 6 | — | ENERGY S E AL A COOPERATIVE DIST Variable rate, due 11/01/2053 | 0.47% |
| 7 | — | TEXAS ST MUNI GAS ACQUISITION & SPLY CORP IV Variable rate, due 01/01/2054 | 0.47% |
| 8 | — | ATLANTA GA ARPT PASSENGER FAC CHG REV 4%, due 07/01/2037 | 0.43% |
| 9 | — | PUERTO RICO SALES TAX FING CORP 4.50%, due 07/01/2034 | 0.43% |
| 10 | — | SOUTHEAST ENERGY AUTH AL COMMODITY SPLY Variable rate, due 11/01/2051 | 0.43% |
| 11 | — | NEW YORK ST DORM AUTH SALES TAX 5%, due 03/15/2038 | 0.43% |
| 12 | — | COLORADO ST HLTH FACS AUTH REV 5%, due 08/01/2044 | 0.39% |
| 13 | — | COLORADO ST HLTH FACS AUTH REV 4%, due 01/01/2040 | 0.39% |
| 14 | — | SAN FRANCISCO CALIF CITY & CNTY ARPTS COMMN 5%, due 05/01/2039 | 0.37% |
| 15 | — | SAN ANTONIO TX WTR REVENUE Variable rate, due 05/01/2054 | 0.34% |
| 16 | — | TARRANT CNTY TX CULTURAL EDU FACS FIN CORP 5.25%, due 12/01/2049 | 0.34% |
| 17 | — | KENTUCKY ST PUBLIC ENERGY AUTH Variable rate, due 02/01/2050 | 0.33% |
| 18 | — | S E ALABAMA ST GAS SPLY DIST GAS SPLY REV Variable rate, due 08/01/2054 | 0.32% |
| 19 | — | PENNSYLVANIA ST ECON DEV FING AUTH 5.25%, due 06/30/2036 | 0.32% |
| 20 | — | LOS ANGELES CA DEPT ARPTS 5.25%, due 05/15/2044 | 0.32% |
| 21 | — | WALKER CNTY AL ECON & INDL DEV AUTH Variable rate, due 08/01/2063 | 0.32% |
| 22 | — | NEW YORK NY 5%, due 03/01/2042 | 0.31% |
| 23 | — | NEW YORK NY 5.25%, due 10/01/2039 | 0.31% |
| 24 | — | N TX TOLLWAY AUTH REVENUE 4%, due 01/02/2038 | 0.30% |
| 25 | — | E BATON ROUGE PARISH LA SWR COMMN REV 4%, due 02/01/2045 | 0.29% |
| 26 | — | BLACK BELT ENERGY GAS DIST AL 5.25%, due 06/01/2036 | 0.29% |
| 27 | — | MONROE CNTY GA DEV AUTH POLL CTRL REV Variable rate, due 04/01/2032 | 0.29% |
| 28 | — | ENERGY S E AL A COOPERATIVE DIST 5%, due 11/01/2035 | 0.29% |
| 29 | — | BLACK BELT ENERGY GAS DIST AL Variable rate, due 02/01/2053 | 0.29% |
| 30 | — | CONNECTICUT ST 4%, due 01/15/2038 | 0.28% |

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