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ETFs

First Trust Exchange-Traded Fund VIII First Trust Flexible Municipal High Income ETF

MFLX
$--
Today’s Change
-- (--)

Snapshot
*

Inception Date
Sep 27 2016
Expense Ratio
0.83%
Type
US Bonds
Fund Owner
First Trust
Volume (1m avg. daily)
$36,104
AUM
$12,097,532
Associated Index
None
Inverse/Leveraged
No
Passive/Active
Active
Fractionable on Composer
No
Prospectus
View

Top 10 Holdings

n/a
LONG BEACH CA ARPT REVENUE 5% due 06/01/2037
2.78%
n/a
CHICAGO IL BRD OF EDU N/C 5% due 12/01/2030
2.59%
n/a
MISSISSIPPI ST BUSINESS FIN CORP Variable rate due 05/01/2028
2.51%
n/a
DUTCHESS CNTY NY LOCAL DEV CORP N/C 5% due 10/01/2040
2.48%
n/a
SAN FRANCISCO CITY & CNTY CA PUB UTIL COMMN 4% due 11/01/2042
2.43%
n/a
MONTGOMERY CNTY OH HOSP REVENUE 4% due 08/01/2041
2.29%
n/a
OHIO ST HGR EDUCTNL FAC COMMN 5% due 02/01/2035
2.24%
n/a
Miami Dade Cnty 5 % Bonds 2017-01.10.40 Refunding Amount Series 2017B
2.24%
n/a
TOBACCO SECURITIZATION AUTH STHRN CA 5% due 06/01/2035
2.19%
n/a
NEW YORK ST DORM AUTH REVENUES 5% due 05/01/2038
2.18%
Invest with MFLX

What is MFLX?

The First Trust Flexible Municipal High Income ETF (the "Fund") (formerly First Trust Municipal CEF Income Opportunity ETF) seeks to provide current income. Under normal market conditions, the Fund seeks to achieve its investment objective by investing at least 80% of its net assets (plus any investment borrowings) in municipal debt securities that pay interest that is exempt from regular federal income taxes. Municipal debt securities are generally issued by or on behalf of states, territories or possessions of the United States and the District of Columbia and their political subdivisions, agencies, authorities and other instrumentalities. The Fund may invest in a range of municipal securities, including, but not limited to, municipal lease obligations (and certificates of participation in such obligations),municipal general obligation bonds, municipal revenue bonds, municipal notes, municipal cash equivalents, private activity bonds (including without limitation industrial development bonds), and pre-refunded and escrowed to maturity bonds.

ETFs related toMFLX

ETFs correlated to MFLX include CONY, TCAF, TSLR

MFLX
First Trust Exchange-Traded Fund VIII - First Trust Flexible Municipal High Income ETF
CONY
Tidal Trust II - YieldMax COIN Option Income Strategy ETF
TCAF
T. Rowe Price ExchangeTraded Funds Inc - T. Rowe Price Capital Appreciation Equity ETF
TSLR
GraniteShares ETF Trust - GraniteShares 1.75x Long TSLA Daily ETF
DRSK
ETF Series Solutions Trust - Aptus Defined Risk ETF
GAUG
First Trust Exchange-Traded Fund VIII - FT Cboe Vest U.S. Equity Moderate Buffer ETF - August
JSCP
J.P. Morgan Exchange-Traded Fund Trust - JPMorgan Short Duration Core Plus ETF
PZA
Invesco Capital Management LLC - Invesco National AMT-Free Municipal Bond ETF
SCHJ
Schwab Strategic Trust - Schwab 1-5 Year Corporate Bond ETF
IBDU
iShares Trust - iShares iBonds Dec 2029 Term Corporate ETF
HYEM
VanEck ETF Trust - VanEck Emerging Markets High Yield Bond ETF

What is ETF correlation?

Correlation is a measure of the strength of the relationship between two ETFs. It quantifies the degree to which prices of the two ETFs typically move together.

Here, correlation is measured over the past year with the Pearson correlation coefficient (Pearon’s r), which ranges from -1 to 1.

Using ETF correlations in portfolio and strategy construction

ETF correlations can help you create investing strategies and portfolios. Use them to:

  • •Build a diversified portfolio from uncorrelated or inversely correlated ETFs with the aim of minimizing portfolio risk.
  • •Compare correlated or related ETFs to find one with a lower expense ratio or higher trading volume.
  • •Create an investing strategy that hedges an ETF with an uncorrelated or inversely correlated ETF.

FAQ

MFLX is a US Bonds ETF. The First Trust Flexible Municipal High Income ETF (the "Fund") (formerly First Trust Municipal CEF Income Opportunity ETF) seeks to provide current income. Under normal market conditions, the Fund seeks to achieve its investment objective by investing at least 80% of its net assets (plus any investment borrowings) in municipal debt securities that pay interest that is exempt from regular federal income taxes. Municipal debt securities are generally issued by or on behalf of states, territories or possessions of the United States and the District of Columbia and their political subdivisions, agencies, authorities and other instrumentalities. The Fund may invest in a range of municipal securities, including, but not limited to, municipal lease obligations (and certificates of participation in such obligations),municipal general obligation bonds, municipal revenue bonds, municipal notes, municipal cash equivalents, private activity bonds (including without limitation industrial development bonds), and pre-refunded and escrowed to maturity bonds.

Yes, MFLX is actively managed. In an actively managed fund, the fund manager makes decisions about how funds are invested. A passively managed fund typically tries to track or follow a market index.

No, MFLX is not passively managed. It is actively managed. A passively managed fund typically tries to track or follow a market index. In an actively managed fund, the fund manager makes decisions about how funds are invested.

The 1-month return on MFLX is -0.0258%. This is the percent change in the value of MFLX over the most recent 1-month period. The 3-month return on MFLX is -0.0346%. This is the percent change in the value of MFLX over the most recent 3-month period.

The standard deviation of MFLX for the past year is 0.1363%. Standard deviation is the typical amount that the daily returns vary from the mean of the returns over the time period, standardized to a period of a year.

ETFs similar to MFLX include SUB, HYD, and CMF.

ETFs correlated to MFLX include CONY, TCAF, and TSLR.

ETFs that are inversely correlated to MFLX include PST, TBX, and EDZ.

Disclaimers

*

We show information directly obtained from our data provider, Xignite. Data shown here is provided by Xignite, an unaffiliated third party. Composer believes the information shown here is reliable, but has not been verified and there is no guarantee that the information is accurate.

**

We show information based on calculations performed by Composer using data from our provider. Information provided here is based on calculations performed by Composer using data sourced from Xignite, an unaffiliated third party. Composer believes this information is reliable, but has not verified the data and there is no guarantee that the calculations are accurate.