First Trust New York Municipal High Income ETF
$24.96+0.13 (+0.53%)
- 0.49%
- $25M
- −3.3%
- 4.03%
- 0M sh
- $24.84
- low $24.49high $27.22
The ETF.net FMNY Grade
D
Score 39 out of 100
- 18 of 19
Score 39 of 100 falls in the D band. A is 70 or higher, B 55 to under 70, C 40 to under 55, D 25 to under 40, F under 25.
Cost
The fund’s net expense ratio, ranked against its category.F22 out of 100Rank 13 of 19Mission
Whether the fund did what it promised, tested against its stated mandate.A70 out of 100Rank 17 of 18Risk
How the fund held up when markets fell: downside volatility, drawdowns and tail loss.D30 out of 100Rank 18 of 19Tradability
How easy the fund is to trade: daily volume, and how far its price strays from net asset value.C45 out of 100Rank 12 of 19Holdings
How concentrated the fund is, and how complete and current its disclosed holdings are.F21 out of 100Rank 18 of 19Durability
Whether the fund is likely to stay open, judged by its age, its assets and its issuer’s assets.C45 out of 100Rank 13 of 19
Our read on FMNY
DTriple tax-free New York income, picked by managers instead of an index. FMNY can hold up to half its book in below-investment-grade munis, a lever the passive New York funds don't pull.
The Fund seeks current income exempt from regular federal and New York income taxes, with long-term capital appreciation as a secondary objective.
Why people hold it
- Income is exempt from regular federal, New York State and New York City taxes: the full triple-exempt package for city residents.sec.govftportfolios.com
- Actively run, with a mandate allowing up to 50% of net assets in below-investment-grade munis. That is credit an index-bound New York fund cannot reach.sec.gov
- Concentrated book of roughly 70 bonds, managed toward an effective duration of about 3 to 9 years rather than the long end alone. Distributions come monthly.sec.gov
Worth knowing
- The 0.49% fee sits above the muni ETF median and well above index staples like VTEB (0.03%) and NYF (0.09%). Active credit selection carries a price tag.
- A small fund that trades lightly, so spreads and order execution matter more here than with the category's heavyweights.
- Non-diversified and all-New York. State and city credit conditions, plus that junk-muni allowance, swing results in both directions.sec.gov
FMNY Holdings
- Bonds
- 76
- 27%
- US Dollar
FMNY Performance
Shows how $10,000 changes over the selected period, with cash distributions reinvested at the closing price on each ex-dividend date.
Not enough history yet.
FMNY$9,667
Returns run to the Oct 12, 2026 close, with cash distributions reinvested. Each period starts on the same date that many months or years earlier. Periods over one year show the average yearly return.
| Period | FMNY |
|---|---|
| Year to date | −4.5% |
| 1 month | −2.6% |
| 3 months | −6.7% |
| 1 year | −3.3% |
| 3 years | +2.7% |
| 5 years | −0.5% |
| 10 years | — |
Calendar-year total return with cash distributions hypothetically reinvested at the ex-dividend date’s closing price. The current year shows year to date.
| Year | Return bar | FMNY |
|---|---|---|
| 2026 YTD | −4.5% | |
| 2025 | +4.0% | |
| 2024 | +1.7% | |
| 2023 | +6.1% | |
| 2022 | −10.6% | |
| 2021 | +1.6% |
FMNY in the news
FMNY Dividends
- 4.03%
- $1.00
- $0.09 per share
- Monthly
Distribution history
FMNY Risk
- 6.1%
How it’s calculated: standard deviation
The sample standard deviation of monthly total returns, multiplied by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Total returns include reinvested distributions.
- −0.23
How it’s calculated: Sharpe ratio
Subtract each month’s Treasury-bill return from the fund’s monthly total return.
Divide the average of those excess returns by their sample standard deviation, then multiply by the square root of 12.
Uses up to 36 complete months, with at least 12 required. Each month uses the Treasury yield quoted at the end of the previous month.
- −15.6%
How it’s calculated: maximum drawdown
The largest percentage decline from an earlier peak, using total returns with reinvested distributions.
Uses up to five years through the last close, with at least 12 months required.
- 0.99
How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMNY Cost
0.49%
FMNY0.49%
- The middle half of High-Yield Municipal Bonds funds
- Median 0.40%
12 of the 19 High-Yield Municipal Bonds funds charge less.
Other funds in High-Yield Municipal Bonds
- BFCALFirst Trust California Municipal High Income ETFExpense ratio 0.49%1 year return −2.3%
- CHTAXNomura National High-Yield Municipal Bond ETFExpense ratio 0.49%1 year return −2.2%
- CJMHIJPMorgan High Yield Municipal ETFExpense ratio 0.52%1 year return −2.8%
- DMFLXFirst Trust Flexible Municipal High Income ETFExpense ratio 0.49%1 year return −2.7%
- FAMHIAmerican Beacon Aberdeen Municipal High Income ETFExpense ratio 0.55%1 year return —