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First Trust Flexible Municipal High Income ETF (MFLX)
About this ETF
The First Trust Flexible Municipal High Income ETF (MFLX), formerly known as the First Trust Municipal CEF Income Opportunity ETF, aims to generate current income. Under typical market conditions, the Fund endeavors to meet this goal by allocating a minimum of 80% of its net assets (plus any borrowed capital) to municipal debt securities. These investments feature interest payments that are exempt from regular federal income taxes. Municipal debt securities are commonly issued by or on behalf of U.S. states, territories, and possessions, along with the District of Columbia, and their associated political entities, agencies, and authorities. The Fund may invest in a broad spectrum of municipal instruments, including, but not limited to, municipal lease obligations (and their certificates of…
Price
Top 10 holdings
| US Dollar $USD | 4.66% |
| COLUMBUS OH REGL ARPT AUTH REV 5.50%, due 01/01/2050 | 2.48% |
| JEFFERSON CNTY AL SWR REVENUE 5.25%, due 10/01/2042 | 2.27% |
| SAN ANTONIO TX WTR REVENUE Variable rate, due 05/01/2054 | 1.87% |
| CHARLESTON CNTY SC ARPT DIST 5.25%, due 07/01/2042 | 1.52% |
| DUTCHESS CNTY NY LOCAL DEV CORP N/C, 5%, due 10/01/2040 | 1.49% |
| MAINE ST FIN AUTH SOL WST DISP N/C, 5%, due 08/01/2035 | 1.47% |
| INDIANAPOLIS IN LOCAL PUBLIC IMPT BOND BANK 6%, due 03/01/2053 | 1.46% |
| TEXAS WTR DEV BRD REVENUE 5%, due 10/15/2060 | 1.45% |
| HAMILTON CNTY OH HLTH CARE REV 5.25%, due 01/01/2045 | 1.45% |
Sector mix
Price chart
Returns
| 1 month | +0.29% |
| 3 months | +1.47% |
| 6 months | +1.23% |
| Year to date | +1.82% |
| 1 year | +4.66% |
| 3 years (ann.) | +1.53% |
| 5 years (ann.) | -4.18% |
| 10 years (ann.) | — |
Risk profile
| Volatility (1y, ann.) | 4.39% |
| Sharpe (1y) | 1.06 |
| Sharpe (3y) | 0.20 |
| Sortino (1y) | 1.47 |
| Max drawdown (1y) | -3.46% |
| Max drawdown (5y) | -29.72% |
| Max drawdown (full) | -29.72% |
| Beta vs S&P 500 (1y) | 0.09 |
| Correlation vs S&P 500 (1y) | 0.27 |
Technical outlook as of 2026-07-13
The Monte Carlo cone is drawn on the price chart above (Forecast overlay); RSI, MACD and the rest of the oscillators live in its indicator panels.
Full holdings
| Constituent | ISIN | Market value | Weight |
|---|---|---|---|
| Loading… | |||
Sector breakdown
Geographic exposure
Cost vs. peers
Comparison universe: 1,710 funds of the same asset class.
Cost impact calculator
Dividend history
Distributing share class Income is paid out to shareholders.
| Ex-date | Payment | Amount |
|---|---|---|
| 2026-06-25 | 2026-06-30 | USD 0.0610 |
| 2026-05-21 | 2026-05-29 | USD 0.0610 |
| 2026-04-21 | 2026-04-30 | USD 0.0600 |
| 2026-03-26 | 2026-03-31 | USD 0.0600 |
| 2026-02-20 | 2026-02-27 | USD 0.0600 |
| 2026-01-21 | 2026-01-30 | USD 0.0600 |
| 2025-12-12 | 2025-12-31 | USD 0.0575 |
| 2025-11-21 | 2025-11-28 | USD 0.0575 |
| 2025-10-21 | 2025-10-31 | USD 0.0575 |
| 2025-09-25 | 2025-09-30 | USD 0.0575 |
| 2025-08-21 | 2025-08-29 | USD 0.0575 |
| 2025-07-22 | 2025-07-31 | USD 0.0575 |
| 2025-06-26 | 2025-06-30 | USD 0.0575 |
| 2025-05-21 | 2025-05-30 | USD 0.0575 |
| 2025-04-22 | 2025-04-30 | USD 0.0575 |
| 2025-03-27 | 2025-03-31 | USD 0.0575 |
| 2025-02-21 | 2025-02-28 | USD 0.0600 |
| 2025-01-22 | 2025-01-31 | USD 0.0575 |
| 2024-12-13 | 2024-12-31 | USD 0.0575 |
| 2024-11-21 | 2024-11-29 | USD 0.0575 |
| 2024-10-22 | 2024-10-31 | USD 0.0575 |
| 2024-09-26 | 2024-09-30 | USD 0.0575 |
| 2024-08-21 | 2024-08-30 | USD 0.0575 |
| 2024-07-23 | 2024-07-31 | USD 0.0550 |
| 2024-06-27 | 2024-06-28 | USD 0.0510 |
| 2024-05-21 | 2024-05-31 | USD 0.0510 |
| 2024-04-23 | 2024-04-30 | USD 0.0510 |
| 2024-03-21 | 2024-03-28 | USD 0.0510 |
| 2024-02-21 | 2024-02-29 | USD 0.0510 |
| 2024-01-23 | 2024-01-31 | USD 0.0510 |
| 2023-12-22 | 2023-12-29 | USD 0.0510 |
| 2023-11-21 | 2023-11-30 | USD 0.0510 |
| 2023-10-24 | 2023-10-31 | USD 0.0500 |
| 2023-09-22 | 2023-09-29 | USD 0.0500 |
| 2023-08-22 | 2023-08-31 | USD 0.0500 |
| 2023-07-21 | 2023-07-31 | USD 0.0500 |
| 2023-06-27 | 2023-06-30 | USD 0.0500 |
| 2023-05-23 | 2023-05-31 | USD 0.0540 |
| 2023-04-21 | 2023-04-28 | USD 0.0540 |
| 2023-03-24 | 2023-03-31 | USD 0.0540 |
ESG profile
No ESG estimate available: none of the scored universe overlaps this portfolio (typical for bond, commodity or synthetic funds).
Scored coverage: 0.0% of the portfolio by weight.
Similar ETFs
| Fund | TER | AUM (USD) | Yield (TTM) | Return 1y | Sharpe 1y |
|---|---|---|---|---|---|
| Vanguard Total Bond Market ETF BND | 0.03% | 394.40B | 4.01% | -0.82% | -0.19 |
| iShares Core U.S. Aggregate Bond ETF AGG | 0.03% | 138.36B | 4.03% | -0.76% | -0.17 |
| Vanguard Total International Bond ETF BNDX | 0.07% | 122.00B | 4.52% | -2.72% | -0.64 |
| iShares 0-3 Month Treasury Bond ETF SGOV | 0.09% | 97.69B | 3.80% | +0.05% | 0.05 |
| Vanguard Short-Term Inflation-Protected Securities ETF VTIP | 0.03% | 70.50B | 4.16% | -0.54% | -0.18 |
| Vanguard Short-Term Bond ETF BSV | 0.03% | 70.40B | 4.02% | -1.02% | -0.48 |
| Vanguard Intermediate-Term Corporate Bond ETF VCIT | 0.03% | 68.70B | 4.86% | -1.04% | -0.22 |
| Vanguard Intermediate-Term Bond ETF BIV | 0.03% | 52.20B | 4.27% | -1.28% | -0.28 |
| Vanguard Short-Term Corporate Bond ETF VCSH | 0.03% | 50.50B | 4.47% | -0.85% | -0.36 |
| Vanguard Intermediate-Term Treasury ETF VGIT | 0.03% | 49.50B | 3.89% | -1.50% | -0.41 |
Cheaper alternatives
No fund of the class reaches 60% portfolio overlap — showing the cheapest funds of the class instead.
| Fund | TER | AUM (USD) | Overlap |
|---|---|---|---|
| Vanguard Short-Term Corporate Bond ETF VCSH | 0.03% | 50.50B | 0.0% |
| Vanguard Total Bond Market ETF BND | 0.03% | 394.40B | 0.0% |
| iShares Core U.S. Aggregate Bond ETF AGG | 0.03% | 138.36B | 0.0% |
| Vanguard Short-Term Inflation-Protected Securities ETF VTIP | 0.03% | 70.50B | 0.0% |
| Vanguard Short-Term Bond ETF BSV | 0.03% | 70.40B | 0.0% |
