MFLX
First Trust Flexible Municipal High Income ETF·NASDAQ
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Key Stats
Assets Under Management
17.94MUSD
Fund Flows (1Y)
3.30MUSD
Dividend Yield
4.06%
Discount/Premium to NAV
-0.29%
Shares Outstanding
1.05M
Expense Ratio
0.93%
About First Trust Flexible Municipal High Income ETF
Issuer
First Trust Advisors L.P.
Brand
First Trust
Inception Date
Sep 27, 2016
Structure
Open-Ended Fund
Index Tracked
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Management Style
Active
Dividend Treatment
Distributes
Distribution Tax Treatment
Ordinary income
Income Tax Type
Capital Gains
Max ST Capital Gains Rate
39.60%
Max LT Capital Gains Rate
20.00%
Primary Advisor
First Trust Advisors LP
Distributor
First Trust Portfolios LP
MFLX seeks to provide current income through an actively managed portfolio of US municipal debt securities whose interests are exempted from federal income taxes. The fund spans a wide range of municipal bonds, including lease obligations, general obligation bonds, revenue bonds, notes, cash equivalents, private activity bonds, as well as pre-refunded and escrowed to maturity bonds. The fund is diversified to invest in municipal bonds of any maturity and credit quality. In addition, the fund may invest, without limitation, in municipal securities that pay interest and generate income subject to federal and state alternative minimum tax. Prior to April 14, 2022, the fund traded as the First Trust Municipal CEF Income Opportunity ETF (Ticker: MCEF). Unlike MCEF's fund-of-CEFs (closed-end funds) structure, MFLX invests in US municipal bonds directly. Although, the fund may still invest in municipal CEFs for up to 10% of its net assets.
Classification
Asset Class
Fixed Income
Category
Government, Local Authority/Municipal
Focus
Broad Credit
Niche
Broad Maturities
Strategy
Active
Geography
U.S.
Weighting Scheme
Proprietary
Selection Criteria
Proprietary
Returns
1-Month | 3-Month | YTD | 1-Year | 3-Year | 5-Year | |
|---|---|---|---|---|---|---|
Price Performance | +0.30% | -0.28% | +0.06% | +0.54% | +1.31% | -16.75% |
NAV Total Return | +0.71% | +1.20% | +0.47% | +4.45% | +14.29% | +2.10% |
Ratings
No data is currently available
Ainvest’s AI-powered ETF Scoring Algorithm, built to help retail investors make smarter, data-driven decisions. Leveraging deep learning, reinforcement learning, and large language models, the algorithm scores ETFs across five key dimensions: Fund Flow, Momentum, Safety, Fundamentals, and Performance. Each factor is weighted by its correlation to future returns, resulting in a single, actionable score. Backtested over five years with consistently strong predictive accuracy. Ainvest brings institutional-grade artificial intelligence to everyday investors—transforming complexity into clarity with every score.
Holdings Analysis
Sector
Utilities
100.00%
Utilities
100.00%
Asset
Region
100%
Category
Ratio
North America
100.00%
Investment Style
No data is currently available
Top 10 Holdings
Symbol
Ratio
COLUMBUS OH REGL ARPT AUTH REV 5.50%, due 01/01/2050
2.97%
JEFFERSON CNTY AL SWR REVENUE 5.25%, due 10/01/2042
2.75%
DUTCHESS CNTY NY LOCAL DEV CORP N/C, 5%, due 10/01/2040
1.84%
CHARLESTON CNTY SC ARPT DIST 5.25%, due 07/01/2042
1.84%
MAINE ST FIN AUTH SOL WST DISP N/C, 5%, due 08/01/2035
1.81%
INDIANAPOLIS IN LOCAL PUBLIC IMPT BOND BANK 6%, due 03/01/2053
1.76%
TEXAS WTR DEV BRD REVENUE 5%, due 10/15/2060
1.74%
MASSACHUSETTS ST DEV FIN AGY REV 5.25%, due 06/01/2060
1.74%
VERMONT ST ECON DEV AUTH MTGE REV 4%, due 05/01/2037
1.73%
ERIE PA SWR AUTH 5%, due 12/01/2046
1.73%
Top 10 Weight 19.91%
81 Total Holdings
Is SPY better than MFLX?
Dividends
Dividend Payout History
Declaration Date | Record Date | Payment Date | Amount |
|---|---|---|---|
| 2026-01-21 | 2026-01-21 | 2026-01-30 | 0.060 |
| 2025-12-12 | 2025-12-12 | 2025-12-31 | 0.058 |
| 2025-11-21 | 2025-11-21 | 2025-11-28 | 0.058 |
| 2025-10-21 | 2025-10-21 | 2025-10-31 | 0.058 |
| 2025-09-25 | 2025-09-25 | 2025-09-30 | 0.058 |
| 2025-08-21 | 2025-08-21 | 2025-08-29 | 0.058 |
| 2025-07-22 | 2025-07-22 | 2025-07-31 | 0.058 |
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How Much Does MFLX Pay in Dividends?
Premium/Discount Chart
Assets Under Management
Should I buy MFLX?
Fund Flows
