Launched Nov 1, 2018 · SEC filings

First Trust Ultra Short Duration Municipal ETF

FUMBNYSE ArcaFirst TrustC

$20.040.00 (+0.02%)

At close: Nov 2, 2026, 4:00 PM ET

C54/ 100

Rank 20 of 28 in Short-Duration Municipal Bonds

C54/100Rank 20 of 28inShort-Duration Municipal Bonds

Expense ratio: 0.45%
Fund size: $299M
1Y total return: +2.6%
Yield · Last 12 months: 2.70%
Holdings: 293
Avg volume · 30D: 118K sh
52W range: low $19.88high $20.72
Launched: Nov 1, 2018
Filings: SEC EDGAR

The ETF.net FUMB Grade

Score 54 out of 100

Category: Short-Duration Municipal Bonds⁠
Rank: 20 of 28

Cost
F4 out of 100
Rank 27 of 28
Mission
A100 out of 100
Rank 1 of 27
Risk
B63 out of 100
Rank 4 of 27
Tradability
C54 out of 100
Rank 13 of 28
Holdings
A83 out of 100
Rank 1 of 28
Durability
B55 out of 100
Rank 16 of 28

Our read on FUMB

ETF.net Research

In short

CActive ultra-short munis with a filter: First Trust's managers hand-pick bonds that fund basic infrastructure and essential local services, and keep portfolio duration under a year. Federally tax-exempt income, paid monthly, for 0.45%.

Stated mandate

FUMB seeks federally tax-exempt income while preserving capital. Normally, it invests at least 80% of net assets in municipal debt securities whose interest is exempt from regular federal income tax.

Why people hold it

Built to sit at the very short end: the prospectus targets a weighted average duration of less than one year, the lever that governs how much a bond portfolio's price moves when rates move.sec.gov
The selection screen is unusual for a park-your-cash fund: munis that meet basic infrastructure needs or critical community services, across at least 10 states, tilted toward growing populations and healthy employment.sec.gov
Roughly 300 muni positions, with interest exempt from regular federal income tax, distributed monthly rather than quarterly.
No index to copy. A human team picks the bonds and has run this mandate since the 2018 launch, which is early for an ultra-short muni ETF.sec.gov

Worth knowing

0.45% sits above the category median and well above index-run neighbors: VTES at 0.05%, SUB at 0.07%, GUMI at 0.16%. Active credit research is what the gap buys.
Tax-exempt here means regular federal income tax. It is not automatically exempt from your state's income tax.
A few-hundred-million-dollar fund that trades moderately, not one of the category's liquidity giants, so bid-ask spreads carry more weight on entry and exit.

FUMB Holdings

Holdings pillarA83Rank 1 of 28 in Short-Duration Municipal Bonds

Asset class: Bonds
Holdings: 293
Top-10 weight: 8%
Largest holding: NEW YORK NY Variable rate, due 10/01/20461.0%

Geography

United States99.97%
Puerto Rico0.03%

The fund’s holdings, weight-ordered — page 1 of 20.
#	Ticker	Company	Weight %	Shares	Market value	Held by ETFs
1	No data	NEW YORK NY Variable rate, due 10/01/2046	1.05%	3,100,000	$3.1M	4
2	No data	MUNI ELEC AUTH OF GEORGIA N/C, 5%, due 01/01/2027	0.95%	2,805,000	$2.81M	1
3	No data	ILLINOIS ST N/C, 5.25%, due 09/01/2027	0.86%	2,500,000	$2.55M	3
4	No data	CALIFORNIA ST MUNI FIN AUTH Variable rate, due 11/01/2046	0.84%	2,500,000	$2.5M	1
5	No data	CUMBERLAND CNTY NC INDL FACS & POLL CTRL FING AUTH Variable rate, due 12/01/2027	0.84%	2,500,000	$2.5M	5
6	No data	MIAMI-DADE CNTY FL INDL DEV AUTH SOL WST DISP Variable rate, due 11/01/2048	0.75%	2,225,000	$2.21M	3
7	No data	PENNSYLVANIA ST ECON DEV FING AUTH Variable rate, due 04/01/2034	0.74%	2,200,000	$2.2M	4
8	No data	DU PAGE & COOK CNTYS IL TWP HS DIST 86 N/C, 5%, due 01/15/2027	0.72%	2,130,000	$2.14M	1
9	No data	DALLAS-FORT WORTH TX INTL ARPT REV N/C, 5%, due 11/01/2027	0.69%	2,000,000	$2.04M	1
10	No data	CAPE ELIZABETH ME N/C, 5%, due 11/04/2027	0.69%	2,000,000	$2.04M	1
11	No data	MASSACHUSETTS ST PORT AUTH N/C, 5%, due 07/01/2027	0.69%	2,000,000	$2.03M	1
12	No data	CLARK CNTY NV ARPT REVENUE N/C, 5%, due 07/01/2027	0.68%	2,000,000	$2.02M	2
13	No data	MILWAUKEE WI N/C, 5%, due 04/01/2027	0.68%	2,000,000	$2.02M	1
14	No data	N TX TOLLWAY AUTH REVENUE N/C, 5%, due 01/01/2027	0.68%	2,000,000	$2.01M	1
15	No data	OHIO ST AIR QUALITY DEV AUTH Variable rate, due 11/01/2039	0.68%	2,000,000	$2.01M	7

Showing 1–15 of 293 holdings

FUMB Performance

Launched Nov 1, 2018

FUMB$10,264

$11,146

Oct 31, 2025 – Nov 2, 2026

Trailing total return for FUMB. Periods over one year show the average yearly return.
Period	FUMB
Year to date	+2.2%
1 month	+0.8%
3 months	+0.7%
1 year	+2.6%
3 years	per year+3.0%
5 years	per year+2.2%
10 yearsFund is under 10 years old	per yearNo data

With distributions reinvested.

Annual total returns for FUMB
Year	Return bar	FUMB
2026 YTD		+2.2%
2025		+2.8%
2024		+3.1%
2023		+2.8%
2022		0.0%
2021		+0.4%
2020		+1.2%

FUMB in the news

Filtered to FUMB · Short-Duration Municipal Bonds

Filings Digest
Four T-REX 2X ETFs will stop trading Nov. 3, and REX will close ULTI and TLDR
Oct 22, 2026ULTI−0.67%
New ETFs
Nine new bond ETFs match the index fund beside them, or cost more
Oct 5, 2026VMHY+0.23%
New ETFs
Victory's two new municipal ETFs list at fees a waiver is holding down
Oct 5, 2026VMHY+0.23%
First-Year Review
AllianceBernstein's California muni ETF lost 0.5%, less than the fund most like it
Oct 5, 2026CAM+0.09%
Launch Roundup
Issuers filed 2x ETFs on unlisted stocks and moved to convert $10 billion of munis
Sep 18, 2026TDNA−2.16%
ETF Filings
Morgan Stanley files seven Eaton Vance muni ETFs with the fee left blank
Sep 16, 2026XAGG+0.08%

FUMB Dividends

: 2.70%Last 12 months
Payout per share: $0.54Last 12 months

Last payment: $0.04 per share
Paid on: Oct 30, 2026
: Oct 21, 2026
Frequency: Monthly

Distribution history

2023–2026

Ex-date	Pay date	Amount per share
Oct 21, 2026	Oct 30, 2026	$0.04
Sep 24, 2026	Sep 30, 2026	$0.04
Aug 21, 2026	Aug 31, 2026	$0.04
Jul 21, 2026	Jul 31, 2026	$0.04
Jun 25, 2026	Jun 30, 2026	$0.05
May 21, 2026	May 29, 2026	$0.05
Apr 21, 2026	Apr 30, 2026	$0.05
Mar 26, 2026	Mar 31, 2026	$0.05
Feb 20, 2026	Feb 27, 2026	$0.05
Jan 21, 2026	Jan 30, 2026	$0.05
Dec 12, 2025	Dec 31, 2025	$0.05
Nov 21, 2025	Nov 28, 2025	$0.05

See all 95 payments⁠

$10,000 in FUMB 5 years ago paid $1,127 in dividends.⁠

FUMB Risk

Risk pillarB63Rank 4 of 27 in Short-Duration Municipal Bonds

: 0.9%; Annualised · 36 months to Oct 2026; 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.
: −1.77; vs 3-month T-bills · to Oct 2026; 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.
: −1.2%; Trough May 2022; 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.
: 0.07; vs its asset-class index; How it’s calculated: beta
The beta figure is supplied by FMP. The comparison index depends on the fund’s broad asset class.
FMP measures it over up to five years of monthly returns.

FUMB Cost

Compare FUMB and VTES

Overpaying vs VTES, tied cheapest in Short-Duration Municipal Bonds

$7,981

On $10,000 over 30 years. 7% growth a year before fees, expense ratio only.

FUMB 0.45%
$9,041
VTES 0.05% Tied cheapest
$1,060

Amount$10,000

Years30 years

Cost over time

FUMB 0.45%
VTES 0.05%
Overpaying

Year by year

Year	FUMB	VTES	Overpaying
10	$812	$92	$720
20	$3,128	$360	$2,768
30	$9,041	$1,060	$7,981

Other funds in Short-Duration Municipal Bonds

BSMMUPIMCO Short Term Municipal Bond Active Exchange-Traded FundExpense ratio 0.35%1 year return +2.6%
BAMUNabrdn Ultra Short Municipal Income Active ETFExpense ratio 0.25%1 year return +2.7%
CMMSDNYLI MacKay Muni Short Duration ETFExpense ratio 0.25%1 year return +2.4%
CPVIInvesco Floating Rate Municipal Income ETFExpense ratio 0.25%1 year return +2.6%
CTAXXBondBloxx IR+M Tax-Aware Short Duration ETFExpense ratio 0.35%1 year return +2.4%

See others

First Trust Ultra Short Duration Municipal ETF

Cost

Mission

Risk

Tradability

Holdings

Durability